The Northwestern Banker: May 1908, Thirteenth Year, Number 5

The Fourth National Bank of the City of New Yorkoffers to Depositors Every Facility Which Their Balances, Business and Responsibility Warrants

Thirteenth Year Des Moines, Iowa, May, 1908 Number 5

= Hanover National Bank

OF THE CITY OF NEW YORK.Nassau and Pine

JAS. T. WOODWARD, President JAS. M. DONALD, V ice President E. HAYWARD FERRY, V ice Pres. WM. WOODWARD, V ice President ELMER E. W HITTAKER, Cashier WM. I. LIGH THIPE, A ss’t Cashier HENRY R. CARSE, A ss’t Cashier ALEX. D. CAMBELL, A ss’t Cashier CHAS. N. HAMPTON, A ss’t Cash.

Established 1851.

Capital . . $3,000,000Surplus . . 9,000,000

The

CityBankof C hicago

C ap ita l $ 1 ,5 0 0 ,0 0 0 S urp lus $ 3 0 0 ,0 0 0

S olic its Your B usiness

U. S. DEPOSITORY

CitizensNationalBank

DES MOINES, IOWA

J. G. ROUNDS, PresidentGEO. E. PEARSALL, Cashier

GEO. COOPER, A ss’t Cashier

CapitalSurplus

$200,000100,000

ACCOUNTS SOLICITED.

The Bankers National BankOF CHICAGO, ILL.

Capital, Surplus and Profits $3,328,957.84EDWARD S. LACEY, President JOHN C. CRAFT, V ice-President FRANK P. JUDSON, Cashier CHAS. C. W ILLSON, A ss’t Cash

RALPH C. WILSON, A ss’t Cashier

Comparative Statement, Showing Increase in Deposits.

February 14, 1899___ $ 8,165,540.26February 14, 1902___ 13,639,218.29February 14, 1905___ 16,311,723.35February 14, 1908___ 18,519,298.50

New Business Desired and Unexcelled Facilities Offered

The Bank of Personal Service

The

Merchants National Bankof Philadelphia

F. W . A Y E R . President

W M . A . L A W , V ice-President

T H O M A S W - A N D R E W . Cashier

W . P. B A R R O W S . A s s t . Cashier

Capital, Surplus and Profits, $1,850,000

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

May, 1908T H E N O R T H W E S T E R N B A N K E R

The Commercial National Bank

of CHICAGOCapital, Surplus and Undivided Profits, $ 7 , 0 0 0 , 0 0 0

Deposits, $ 4 0 , 0 0 0 , 0 0 0OFFICERS

GEORGE E. ROBERTS . . . P r es id f n t GEORGE B. S M ITH . . A s s 'T C ash ie r JOSEPH T . TA LBERT . , . V ic e -P r e s . HARVEY C. VERNON . A s s ’T C a sh ier

RALPH VAN V E C H T E N , 2 nd V ice-P r e s . H . ERSKINE S M IT H . • A s s 'T C a sh ier DAVID VERNON . . . 3 rd V ice-P rEs . W M . T . BRUCKNER . . A s s ’T C ash ier

N A THANIEL R. LOSCH • . . C a s h ie r EDGAR N. JOHNSON , . . A u ditor

This bank is p leased to p lace at the d isposa l o f its custom ers the facilities gained

during f o r t y years o f continuouss e r v i c e and growth

Fisk ù R obinsonBANKERS

Government Bonds City oi New York BondsInvestment Securities

NEW YORK CHICAGO BOSTON

Members New York Stock Exchange

CHICAGO OFFICE: 135 Adams StreetC. FREDERICK CHILDS, Mgr. Telephone Cent. 6216

■-........ T H E .— -■

C E N T U R YSAVINGS BANKDES M O IN E S , - - IO W A

C A P IT A L , - - - $ 100 ,000.00

OFFICERSW. G. HARVISON, Pres.

L. E. HARBACH, V ice-Pres.H. M. W HINERY, Cashier.

D. A. BYERS, A ss’t Cash.

DIRECTORSW. G. Harvison,

Geo. M. Christian,J. W. R-idebeck,

Li. E. Harbach,

P. C. Kenyon,J. B. Uhl,

J. B. Sullivan,H. H. Teachout,

W . G. Burnside.

Accounts of Banks and Bankers Solicited. Superior Facilities for Collections. Interest

Paid on Tim e Deposits.

Great Western Accident Association

DES MOINES, - IOWA

ASSETSJanuary 1, 1902

$ 7 ,7 8 1 .9 1 January 1, 1903 5 5 2 ,3 4 8 .7 3January 1, 1904

$131,123.92January 1, 1905

$ 1 6 6 ,4 8 8 .3 2January 1, 1906

$ 232,770.28Januayy 1, 1907

$299,898.09January 1, 1908

$ 359,700.35For literature or other inlormation, address

H. B. H A W L E Y , President,Great Western Building. Des Moines, Iowa.


May, 1908 T H E N O R T H W E S T E R N B A N K E R

St. Paul Bankers Express Themselves on Oklahoma Law

Evidently the bankers of St. Paul are not very enthusiastic on the new Oklahoma law regarding the guarantee of bank deposits by the state, and their opinions as expressed recently in the News of that city, will be read with much interest:

Kenneth ChirkPresident Merchants National Bank—I think the Oklahoma banking law is amusing. All humbug. It is a socialistic-anarchistic scheme that will never in the world work among business men. They might as well have the state guarantee the circulation of a newspaper. I wouldn't work in a bank that was operated under any such law.

Joseph LockePresident American National Bank—I think that the tax rate they propose is altogether too high. It would create a much larger fund than is necessary. It is possible that such a law might be drafted in a way that would be practicable, but I do not approve of it as it stands.

T . D. MontfortCashier Second National Bank— It will be an interesting experiment, but I hardly think it will succeed.

I do not approve of it. It smacks of socialism and is a m eagre of extreme paternalism. It strike5 me as unfair to tax all the banks for such a fund.

C. G. LawrenceTreasurer State Savings Bank— It’s the worst law that could be passed. Under it any man could do as he pleased, and other bankers would have to pay his debts if he got into difficulties. The recent failures of the Morse chain of banks in New York City is an instance of wildcat banking which would flourish under the new Oklahoma law.

W E. BriggsCashier Stockyards National Bank—I do not approve of the principles of the measure. Every banker ought to be placed on his own merits. Under the new act a weak bank may be supported by a stronger, and the latter made to bear the responsibilities of the former.

James W . LuskPresident National German-American Bank—Under the new Oklahoma law anybody could start a bank. It gives no safety to the public, no assurance of soundness in banking. Wild cats will spring up in Oklahoma under the new law. The only way to safeguard depositors is to make every bank pay into the state every cent of capital stock. Then state examiners ought to make rigid examinations every few months and make public to the letter the exact condition of each bank. That's enough guarantee.

DO YOU W ISH TO SELL YOUR BANK?

We have a list of clients who desire to buy controlling interest in banks with capital from S I 0 ,0 0 0 to S 5 0 ,0 0 0 . If you want to sell, w rite today. Everything confidential. Address,

F. T. CO.,Care NORTHW ESTERN BANKER,

Des M oines, Iowa.

■UNITED STATES DEPOSI TORY-

Your Account

Will be handled in the most carelul and intelligent manner. Collection facilities excellent.

TH E

NATIONAL CITY BANKOF C H IC A G O

O FFICERS

D A V ID R. F O R G A N , Pres. L. H. GRIMME, A sst. Cash.A L FR E D L. BA K ER , V ice-Pres. F. A . C R A N D A L L , Asst. Cash. H. E. O T T E , Cashier W . D . D IC K EY , A sst. Cash.

R. U. L A N S IN G , M anager Bond D epartm ent

Capital $1,500,000 Surplus $300,000


4 T H E N O R T H W E S T E R N B A N K E R May, 190S

The Safe to TrustW e are selling more bank safes than all other dealers

combined. Fifty per cent increase in business from last year. A large stock of safes carrried for immediate shipmeut.

Western agents, Maganese Steel Safes, Mosler screw door safes, Mosler-Corliss safes, Stoddard Dayton and Ford automobiles.

J. J. DERIGHT & CO.18th & Farnam Sts., OMAHA, NEB

Citizens Savings BankD EC O R A H , IO W A

C apital $50,000.00

Special Attention Given to Collections. Send Us Your Decorah Items.

E. J. C U R T IN , PresidentO G D E N C A S T E R T O N , V ice President

B. J. M cK AY , CashierE. L. A M U N D S O N , A sst. Cashier

J A M E S B. F O R G A N C H A R L E S N . G IL L E T T President Cashier

T H E F IR S T N A T I O N A L B A N K O F C H I C A G O

C A P IT A L A N D S U R P L U S , $15 ,000,000.00

Welcomes and appreciates the accounts of banks and bankers believing that its extensive clientele which has been gradually developed by more than forty years of consistent, considerate service is splendid endorsement of the agreeable and satisfactory accommodations rendered to its customers

DIVISION “F” (Banks and Bankers) A U G U S T B L U M , Vice-President H E R B E R T W . B R O U G H , Asst. Mgr.

< S S ^ 5 >LITHOGRAPHING

< 0 #ESTABLISHED 1 8 5 6

Iowa Lithographing Co.5 Des Moines, la.Bank and Com m ercial Stationery a Specialty.

No Trouble to Quote Prices.


THE OLDEST BANK IN THE UNITED STATES(CHARTERED BY CONTINENTAL CONGRESS, 1781)

THE BANK OF NORTH AMERICANATIONAL BANK

PHILADELPHIA, PENNSYLVANIA

CA PITA L - SURPLUS . . . -UNDIVIDED PROFITS, O VER DEPOSITS DEC. 3, O VER

$ 1,000,000.00 2,000,000.00

- 400,000 00$1 1,000,000.00

PresidentCashierAssistant Cashier Assistant Cashier

H. G. MICHENER- JOHN H. W A TT SAML. D. JO RDAN- WM. J. M U RPH Y

SOLICITS THE ACCOUNTS OF BANKS, FIRMS, INDIVIDUALS AND CORPORATIONS

T he Northwestern Banker$2.00 Per Annum DES JVIOINES, IOWA, 1V1AY, 1908 20 dts. Per C opy

H ow Government Guaranty of Deposits M ay be Made Feasible

B y P . E . Johannsen, CashierIn my opinion the western country is by a very large

majority in favor of the plan, and it is going to be persistently insisted upon through our Congressmen and Senators, and if they fail to act, it is going to be threshed out in our national campaign.

A sumary of changes to our national banking laws as would make a Government guaranty of deposits in national banks feasible:

1. Government to guaranty all deposits; to be payable in first instance by dividends from amounts realized from the asets of the bank and stockholders’ liability, and when all disbursed, any balance remaining to be paid by the Government direct, from the fund created for that purpose.

2. Create a fund to begin with, by a tax of i per cent, on the capital stock and surplus of all banks and a tax of one-tenth of i per cent, each year thereafter until a conservative fund shall have been established and then reduce the tax proportionately each year to meet all needs.

3. In event of insolvency, bank aflairs to be administered as provided by present law ; compensations of receiver and counsel to be fixed by a certain per cent, on the amount realized from assets, and same to be in full for all services, thereby limiting large shrinkage in assets of banks in cases of insolvency, as seems to be the case under present conditions. No asset of a bank to be sold or compromised until a reasonable notice of such intention be first given to all stockholders, and they shall have had a reasonable opportunity to bid thereon, and not then until it shall have been duly appraised, and is not to be sold for les than appraised value.

4. No preferences to be given any depositor in the payment of claims. Government guaranty to apply onlyto deposits.

5. Government to have first lien on all assets of the

First National Bank of Colfaxbank and stockholders liability to reimburse it for any and all liabilities to depositors or otherwise.

6. In case of insolvency, claims to be filed within a stipulated period and if not filed to be bared by limitation, and on expiration of period for filing claims, certificates of indebtedness to be issued from office of Comptroller of Currency, to creditors for all proven claims, same to be without interest, and to be negotable. All dividends paid to be receipted for and endorsed on certificates of indebtedness.

7. Have all bank examiners appointed by civil service commission and make them liable to penal code for willful neglect of duty in making examinations of banks. Detailed rules for examination to be compiled; have uniform forms of certificates of deposits to be used by the banks, to be prepared and issued by Government, and issued to banks on requisition at actual cost. Uniform permanent liability registers to be kept by banks, showing complete individual records of liabilities to banks as borrowers and endorsers and security given in each case.

8. Make provision for the enforced verification of each deposit and loan, by letters sent out by examiner after each examination, and give public notice of when examination has been made, that a depositor not having received notice by mail for verification of amount of his deposit, he may have opportunity to advise proper official of error.

9. No bank to be permitted to pledge any of its assets or securities to any person or in any manner whatever.

10. No money or other thing to be received or borrowed by a bank, except as a deposit, without first securing the consent and approval of officials having supervision of banks, and all facts as to rate paid, from whom borrowed, etc., and purpose for which wanted to be fully set forth in application to officials.

ir . Legal lawful money reserve of banks to be the


6 T H E N O R T H W E S T E R N B A N K E R May, 1908

Capital $ 1 , 0 0 0 ,0 0 0

Surplus and Profits $400,000

L. A. GODDARD, - - - - PresidentNELSON N. LAMPERT, - Vice-PresidentHENRY R. KENT,..................... CashierCHARLES FERNALD, - - Asst. Cashier COLIN S. CAMPBELL, - - Asst. Cashier

Clark and M onroe Streets

C H IC A G O

SO LIC ITS

YOURAC C O U N T

We particularly appreciate the accounts of Banks and have unusual facilities fo r handling such business.

same as now except that a larger per cent be required to be kept in bank at all times.

12. Limit classes of loans to the following per cents of the amount of deposits held, viz., 10 per cent in mortgage loans, 10 per cent in stocks and bonds or on such as collateral, 75 per cent in individual and commercial loans.

13. Reduce the present minimum amount of national bank note circulation required to be taken out, so as to conform to estimated amount of United States bonds available therefor.

14. Stockholders’ liability for double amount of stock held to remain as at present.

15. Prohibit loans to directors and officers and firms wherein they or any of their relatives or associates may be interested.

16. Limit amount of minimum capital permitted in conservative amounts proportionate to population and towns where bank is located.

17. No deposits to be received after the deposits of any bank reach four times the amount of its paid up capital and surplus.

18. Deposits not to be received from any single depositor in excess of a certain per cent of capital paid in, say 10 per cent, and require books to be kept so the amounts deposited by each is ascertainable.

19. Limit loans to any individual or firm to 10 per cent of capital and surplus as now provided.

20. Have United States divided into districts conformable to present congressional district or state lines, and make it obligatory for an officer of each bank In each district, to meet their respective districts once each three months, and they by official determination to fix a maximum rate allowed to be paid on deposits and terms thereof, and their acts to be certified to the Comptroller, and no bank to be permitted to pay interest in excess of terms certified, under severe penalty, and in no case shall interest be paid to exceed 4 per cent for the longest period.

21. If made a law, have it take effect at a future date, so as to give state banks opportunity to be converted into national banks, or to permit states to enact suitable legislation conformable to the needs and protection of state banks.

22. Provide for graduated scale of bonds to be given

by officers and employes of banks, direct to Government, in proportion to capital paid in.

23. No tax to be levied against the assets of national banks by any state or municipal sub-division thereof, for the purpose of reimbursing a state for any loss sustained by it, through the guaranteeing of the deposits or liabilities i nany state bank.

24. Enact penal laws for strict punishment by fine and imprisonment for any violations of national banking laws, and no fine or imprisonment to be commuted and provide for immediate liquidation of the bank for certain violation of laws.

25. Limit the per cent of capital stock and surplus allowed to be invested in bank property, other than those taken under foreclosure or to secure pre-existing debts to bank, the latter to be desposed of within a limited time.

26. All banks to keep their loans classified, in addition to the classification stated in paragraph 12, as to the following particulars: All loans under 2 ^ per cent ofcapital and surplus, all loans between 234 and 5 per cent, all loans between 5 and 734 per cent, all loans between 7*4 and 10 per cent, and such classification also to show the average rate of interest received on the different classifications of loans. This classification is to be for statistical purposes. Published statements of banks to certain classifications of loans held by the bank.

27. Suitable emergency currency legislation to be enacted in conjuction with the foregoing, upon a basis to enforce its retirement within the earliest period possible; along the lines of the American Bankers’ Association plan, or Fowler plan.

Meeting of Group Five

The meeting of Group 5 of the Iowa Bankers Association will be held at Council Bluffs May 20th. A \ ery interesting and attractive program has been prepared and a cordial invitation is extended to all the members and friends to be present on this occasion. Group 5 has 123 members and comprises the counties of Audubon, Cass, Carroll, Crawford, Fremont, Harrison, Mills, Montgomery, Page, Pottawattamie and Shelby. J. F. Lake of Shenandoah is chairman and Jas. Hunter of Minden, secretary.


May, 1908 T H E N O R T H W E S T E R N B A N K E R 7

Decision of Great Interest to Iowa Banks

A decision of interest to about 300 banking institutions in the state of Iowa, and one of the most important ever handed down, has just been made by the Iowa supreme court. The decision came in the Corning State Savings Bank case and the court holds that savings banks in Iowa have the statutory power to endorse and guarantee commercial paper in which they deal.

The case came from Adams county and was appealed by C. W. Johnston of Des Moines on behalf of Bruce Butler, the adverse judgment of Judge H. K. Evans being reversed by the supreme court.

President La Rue of the Corning Savings Bank before 1907 sold commercial paper held by his bank to the E. K. Butler Iowa National Bank in Des Moines and to W. O. Curtis for this bank, and endorsed the paper with the guarantee of the Corning institution and his own personal endorsement.

When La Rue killed himself it was discovered that he had negotiated much paper that was forged, and the holders of the paper sought to have their claims established as against the La Rue institution at Corning. Judge Evans held that a savings bank in Iowa was limited as to its powers by section 1850 of the code and by section 1855 'm such a way that it could not guarantee any commercial paper by its endorsement.

The supreme court takes the opposite view. It says, in part:

‘'We cannot think that after authorizing savings banks to deal in paper as commercial banks the legislature intended so to limit and cripple such authority as practically to defeat the object sought to be obtained.

“ Very little paper comparatively passes on endorsement ‘without recourse,’ and even then this does not obviate the liability involved in the warranty of genuineness and of title.

“ If appellees’ view should prevail every one taking paper from a savings bank must not only receive it endorsed ‘without recourse,’ but must know at his peril whether the paper is genuine and the bank has title as well as that the object of the officers of the bank in disposing of it was ‘for the purpose of obtaining money with which to pay deposits.’

“ One of the basic functions of banking is the dealing in notes, bills of exchange and credits.

“ Having authority to deal in commercial paper they necessarily must assume the obligations incident thereto and among these are those of guaranty and endorsement in transferring the same.”

City National to Enlarge

The splendid business enjoyed by the City National of Marshalltown makes expansion necessary, and they are planning to enlarge their quarters in the near future. The remodeled bank will probably include the present Fair Store, and the room occupied by the Postal Telegraph Co. When completed the City National will have the largest and finest banking room in the city, and one which will be fully in keeping with the progressive spirit of this up-to-date institution.

Capitaland

Surplus

$ 7 , #00,00#

. T H E l l l lCONTINENTAL

NATIONAL!B o l l i i

OF i l l !CHICAGO

Deposits

$ 65,ooo,ooo

OFFICERS

GEO. M. REYNOLDS, Pres. HERMAN WALDECK, Asst. CashierALEX ROBERTSON, V. Pres. F. H. ELMORE, Asst. CashierWM. G. SCHROEDER, Cashier WILBER HATTERY, Asst. CashierB. S. MAYER, Asst. Cashier J. R. WASHBURN. Asst. Cashier

BOARD OF DIRECTORSJOHN C. BLACK. Chairman of the Board

J. OGDEN ARMOUR ALBERT J. EARLING HENRY BOTSFORD B. A. ECKHART

WM. C.SEIPP EDWARD HINES FRANK HIBBARD

F. WEYERHAEUSER SAM’L McROBERTS ALEX ROBERTSON GEO. M. REYNOLDS

W e invite Banks, Bankers, Manufacturers, Merchants and Individuals to open accounts with us and

avail themselves of our superior facilities

The Hamilton National Bank of Chicago

Capital $500,000 Surplus and Profits, $176.306

DIRECTORS:

Officers: Officers:

CHAS. B. PIKE,President

HENRY MEYER,Cashier

J. H. CAMERON,Vice-Pres.

GEO. H. WILSON,A ss ’t Cash.

F. A. Delano, President Wabash Railroad Company.Charles L. Bartlett, Mgr. Proctor & Gamble Distributing Co. T. A. Shaw of T. A. Shaw & Co.Louis E. Laflin, Manager Estate of Matthew Laflin.Charles B. Pike, President.J. H. Cameron, Vice-President.Henry Meytr, Cashier.C. J. Eldredge of Merrill & Eldredge, Com. Merchants. Frank Cuneo, of Garibaldi & Cuneo.Edmund A. Russell, Otis Elevator Co.W. C. Brown, Vice-Pres. New York Central Lines.

We Study the Requirements of the Banks in the N orthw est and Endeavor to Meet Them in Every Reasonable Way.



THE LIVE STOCK EXCHANGE NATIONAL BANKo f C H I C A G O

CAPITAL $1,250,000 SURPLUS $250,000

..... O F F I C E R S .....S. R. Flynn, President G. A. Ryther, Cashier

G. F. Emery, Asst. Cashier

.....D I R E C T O R S .......J. A. Spoor Arthur G. Leonard James H. Ashby Edward Morris

Samuel Cozzens Gates A. Ryther J. Ogden Armour S. R. Flynn

Chicago Chapter, American Institute of BankingChicago Chapter of the American Institute of Bank

ing was organized in 1901 with Fred I. Kent, Manager of the Foreign Exchange Department of the First National Bank, as president. Five hundred members were secured during the first year and much enthusiasm was engendered among both the bank men and the bank officers of Chicago, with the result that there was laid a safe and sure foundation for the educational advancement of Chicago bank men.

Seven years have passed and to-day finds the Chapter a strong, healthy, powerful, educational and fraternal club whose membership is drawn from practically

F. W . E L L S W O R T HPresident Chicago Chapter. A d. Mgr. First National Bank

every banking institution in the city of Chicago. There have served as president of the organization during these seven years, in addition to Mr. Kent, the following gentlemen: Ralph C. Wilson, Assistant Cashier of the Bankers National Bank ; George K. Wadsworth, Discount Clerk, American Trust & Savings Bank; Fred A. Crandall, Assistant Cashier, National City Bank; Edward J. Goit, Paying Teller, Bankers National Bank, and F. W. Ellsworth, Manager Publicity Department of the First National Bank,

The success of each administration has been assured by the active co-operation of an Executive Committee selected by the Chapter whose personnel almost invariably has been indicative of superior ability and earnest purpose.

While the primary object of the organization has been the educational uplift of its members other features from time to time are introduced to supplement and assist the larger purpose.

Minstrel Shows, participated in exclusively by Chapter members, have been given, netting large sums to the Chapter treasury. Ladies’ nights, special Chapter nights at some of the theaters, athletic meets, Chapter dances, and lake trips have added to the variety of entertainment.

The Chapter at different times has affiliated with both Northwestern and Chicago Universities in conducting classes in banking and finance and at the present time is engaged with Northwestern University in such a course.

At the regular meetings lectures and addresses are given by men prominent in various lines of business and these help to broaden the knowledge of the members.

Permanent headquarters are maintained in Northwestern University Building where the boys can drop in at any time and enjoy its advantages.

Inter-City debates have been held with various cities and these have promoted a feeling of good fellowship which should prevail among Chapter men universally.

The Bank Man, a sixteen-page monthly, which is devoted to Chicago Chapter and its activities, was established in 1906 and is a most successful periodical.C. B. Hazlewood of the Commercial National Bank is editor.

The various special activities of the organization are carried on by eleven committees, such as the membership, the ways and means, debate, educational, house, press, etc., and the entire work is supervised by an Executive Committee, which consists of the following gentlemen :F. W. Ellsworth, Pres. Chas. W. Alison, Sec.C. Frank Spearin, Vice Pres. Walter L. Clark, Treas. Lester B. Brady Peter P. ThorsonChas. E. Whittle Edw. J. Goit Walter L. Johnson



An Historical InstitutionThe Farmers & Mechanics National Bank of Phila

delphia has recently celebrated its one hundredth anniversary. Since 1858 it has been the depositary of the Philadelphia Clearing House, which recently celebrated its fiftieth anniversary. The Farmers & Mechanics National Bank has had a career to be proud of.

Organized in 1807, it became a national bank in

Farmers and Mechanics National Bank, Philadelphia, Pa.,Bank Building 1807

1864 and has distributed in dividends among its stockholders since its institution the sum of $12,637,000. It has always had close relations with the national, the state and the city government. During the War of 1812 the bank made a subscription of $300,000 to the war loan of the government. It was designated a depositary for public moneys by the treasurer of the United States on October 25, 1864. It was appointed loan and transfer agent of the Commonwealth of

Farmers and Mechanics National Bank, Philadelphia, Pa., Bank Building 1907

Pennsylvania in 1858. It became the fiscal agent of the city of Philadelphia in 1872. As fiscal agent of the city it has paid in interest to holders of city loans more than $110,000,000; transferred to holders of city loans over $476,000,000; disbursed to holders of matured loans more than $79,000,000; all of these oper-

TheFarmers’ and Mechanics’

National Bankof Philadelphia, Pennsylvania

427 Chestnut Street

CAPITAL, . . . . $2,000,000.00

SURPLUS AND PROFITS, - - 1,275,000.00

DEPOSITS, . . . . 14,637,939.00

Organized January 17, 1807

DIVIDENDS PAID, - - . $12,637,000.00

UNITED S T A T E S , ST A T E and CITY DEPOSITORY

o r n c E R SHOWARD W. LEW IS, President

HENRY B. BARTOW, CashierJOHN M ASON, Transfer A gent

O SCAR A. W E IS S , Assistant Cashier

Accounts of Banks and Bankers Solicited.

Your Chicago Businesswill receive prompt, careful and intelligent attention if entrusted to the

State Bank ot ChicagoCH ICA G O

E ST A B L ISH E D 1879

Capital, O N E M I L L I O N D O L L A R S

Surplus ( earned) O N E M I L L I O N D O L L A R S

A ctiv e and reserve accounts o f state banks and bankers esp ecia lly so lic ited

H. A. Haugan, President John R. Lindgren, CashierFrank I. Packard, Asst. Cashier Henry S. Henschen, Asst. Cash.Henry A. Haugan, Asst. Cash.

Samuel E. Knecht, Sec. William C. Miller, Asst. Sec.

Directors:DAVID N. BARKER, M anager Jones & 1» aughlin Steel Co.

CALVIN DURAND, President Durand & K asper Co THEO. FREEMAN, Grocer.H. A. HAUGAN, President.

JOHN R. LINDGREN, Cashier.T'HOS. MURDOCH, President Reid, M urdoch & Co.WM. A. PETERSON, Proprietor Peterson Nursery

GEO. E. RICKCORDS, Chicago T itle & T ru st Company MOSES J. WENTWORTH, Capitalist.


May, 1908T H E N O R T H W E S T E R N B A N K E R

There never was a real satisfactory way of handling Transit Collections until the advent ol the Elliott-FisherADDING TYPEWRITER.

But now since the difficulty has been solved there is no excuse for any banker not being familiar with its possibilities.Hundreds ol Elliott-Fisher machines are being used by banks ol national prominence, and the reason lor their popularity is that

They save 5 0 per cent of the time, labor and expense ol other methods.They turn out printed letters, in duplicate, automatically added and proved, with unerring accuracy.They furnish an absolute check on the Transit Department.

List ol prominent users and samples of forms mailed free on request.ELLIOTT-FISHER COMPANY,General Offices and Factory, HARRISBURG, PENNSYLVANIA. Sales offices throughout the world.

ations being handled without the loss of a dollar to the city. As loan and transfer agent of the state of Pennsylvania, it has paid in interest $45,000,000; transferred to holders of state loans $141,000,000; disbursed to holders of matured loans, $80,000,000.

H E N R Y B. B A R T O WCashier Farmers and Mechanics Bank, Philadelphia, Pa.

As agent of the Philadelphia Clearing House during the fifty years ending March 16, 1908, it has received deposits of gold coin and United States notes amounting to $299,151,000, and paid oüt to clearing house banks gold coin and United States amounting to $293,141,000. We show cut of the bank building in

its first location, 102 Chestnut Street. In 1819 the bank removed to its present site, 427 Chestnut Street, opposite the United States Custom House. This was the site of the Lawrence mansion, which was occupied by Admiral Howe while the city was in possession of the British during during the war for independence.

In 1854 the present handsome marble building was erected. It has a carved marble front 65 feet in height, with a width of 55 feet and a depth of 135 feet. We show a cut of the bank’s present home. The bank’s statement of condition as of April 14, 1908, is as follows :

R E SO U R C ES.Loans ............................................................... $ io-339>6i 8.55United States Bonds .................................. 2,014,983.39Due from banks .............. ........................... 2,529,739.31Cash and Reserve ................................................................ 4.483.5 5 L O O

$19,358,892.25

$ 2,000,000.00 1,344,467.45L 959.30o.oo

14,055,124.80

$19,358,892,25The present officers of the bank are :

Howard W. L e w is ................................................ PresidentLlenry B. B a r t o w .................................................... CashierJohn Mason ..............................................Transfer OfficerOscar E. W e is s ..............-...................... Assistant Cashier

Important Change in DenverMr. William Bierkamp, Jr., who was formerly cashier

of the Denver Stock Yards Bank, has severed his connection with that institution to become the vice president and general manager of the Denver & Colorado Securities Company of Denver. This company is incorporated with a capital of $200,000, and will make a specialty of selling Colorado banks. They also deal largely in bank stocks, farm lands and city property, and are doing an extensive and constantly growing business. Mr. Bierkamp was formerly a resident of Iowa and whenever Iowa sends men out into other states, she generally sends the kind which make a success in whatever they undertake, and Mr. _ Bierkamp is certainly that kind of a man. We predict for him unbounded success in his new field of endeavor.

L IA B IL IT IE S .Capital ..................................................Surplus and Net Profits .................C irculation...........................................D epo sits................................................


May, 1908 T H E N O R T H W E S T E R N B A N K E R i l

T H E / ONE WRITING ^ FOR

Baker-Vawter 1With Either Pen, Pencil or Typewriter, M AKES THE j

i FULL PARTICULARS

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Ledger and Maturity Tickler [ CompanyAND

' The M ost Practical System Ever Devised for the Purpose. ' Equally Adaptable to Banks of all Sizes. (Jones Perpetual Ledger Co.)

DISCOUNTS ' ® ) CHICAGO NEW YORKTribune Big 3 5 0 B roadw ’y

Advertising The BankBY H. B. CRADDICK

NUMBER IPractical Talks, on a Practical Subject, by a Practical Man

A few weeks ago, following the “ flurry,” an advertising solicitor for a newspaper in a Kansas town, called on one of the local bankers and asked the bank to use some advertising space. He met with a flat refusal and the banker took occasion to add this stinger, “ None of the banks in this city advertise, and the bank that starts would be a jackass.”

This opinion, while perhaps extreme, is cited for the purpose of expressing the attitude of many bankers, not a few, on the subect of newspaper advertising for the bank.^As a matter of fact, all three of the banks in that

Kansas town do advertise. It is possible they have not, as yet, advanced to the point of using their local paper as an advertising medium, but newspaper advertising is but one of the many methods employed by banks in this field, and it would be difficult to find the bank in any community that is not, in some way, by some method, advertising its business.

With the banker today, it is not a question of “ Do we want the business?” or “ Shall we advertise?” but it is an important question of “ Plow shall we advertise to get the business?” It is a matter of method.

Modern bank advertising had its beginning but a few years ago. Bankers were slow to admit the necessity of advertising and to see its possibilities. Many bankers had an idea that it was positively undignified. We know now that advertsing may be just as dignified and at the same time effective, as the dignity of any bank may require.

For the science of advertising, or the art of publicity, is advancing, just as business and business methods are progressing along more scientific lines. It is so closely allied with business and business interests that they are inseparable.

The bank has a definite object in view to be accomplished by its publicity. It is to promote and instil confidence in the bank and to attract new business in the way of depositors and borrowers. Unless a bank’s advertising shall be prepared with this idea in mind at all times, it is needless to say that the results will not prove satisfactory.

Of depositors, a bank desires first, depositors who borrow and check against the loans; second, cash de

posit accounts ; third, large inactive checking accounts. This practically constitutes the ends to which a bank’s advertising should be directed and the plan which will eventually increase its business must be conducted along these lines.

There are five general methods of advertising commonly in use by banks today. Named in their order of effectiveness, they are :

Newspaper advertising.Personal letters.Circular letters.Statements and booklets.Calendars, souvenirs, novelties.I am well aware that many bankers may take ex

ception to this arrangement. I admit, that in some localities this list might well be reversed, or revised, for each of the methods has been used successfully and to good advantage in the past.

I place newspaper advertising first in importance because it has been proven the most effective, the most practical and the most reasonable in cost (con-

E. H. GaryFamily

Mausoleumw hich w e have nearly com pleted on the H on. E. H. Gary (Chairman o f the U. S. Steel Corporation) fam ily lot.

THE TOMB OR MAUSOLEUM

H as ever been the favorite m ethod o f burial by the w ealthy. W itness those o f Egypt, India, Assyria and Greece. St. M atthew tells us that a certain rich man o f A rim athea laid the body o f Jesus in h is tom b and rolled a great stone to the door thereof. And thus it has been down through the centuries.

Today they are made even more durable, in th at w e m ake them o f granite, and the roofs are o f great stones instead o f tile and sm all pieces. They cost from $3,000 upwards. W rite for free book let to

CHAS. G. BLAKE & CO.the old and reliable M ausoleum and M onum ent m akers,

Woman’s Temple, La Salle and Monroe Sts., Chicago, 111.



Irving National Exchange BankWest Broadway and Chambers Sts.

Capital $ 2 ,0 0 0 ,0 0 0 NEW YORK CITY Surplus $1 ,000,000

LEW I'S E . PIERSO N , President JA M E S E . N ICH O LS, Vice-Pres CH AS. L . F A R R E L L , Vice-Pres

RO LLIN P. G R A N T, Vice-President B E N JA M IN F. W E R N E R , Cashier DAVID H. G. P E N N Y , A ss’t Cash. H A R R Y E . W ARD, A ss’t Cashier

Resources $ 2 6 ,0 0 0 ,0 0 0COLLECTION OF BILL-0F-LADING DRAFTS

OUR SPECIALTY

Strictly a Com m ercial

FOREIGN AND DOMESTIC EXCHANGE BOUGHT AND SOLD

Bank

sidering results) of any of the methods of publicity with which banks are familiar.

It is a difficult matter to estimate the real force of newspaper advertising, simply for the reason that it is possible to influence the reader without a realization on his part. It is human nature to follow lines of knowledge; that is, we purchase from merchants we know and we purchase goods we know, if not in a personal way then by other knowledge we possess. It is a process of imparting and impressing on others, information or knowledge which will, in the future, react in the advertiser’s favor.

Thus it is that successful advertising is not necessarily immediate in results. The man who reads a bank advertisement week after week may not have any idea of opening a bank account until he is possessed of funds for the purpose, or the necessity of a bank connection is realized.

The newspaper reaches the reader in a receptive mood, and in a time of leisure. This gives the advertiser an opportunity to get a hearing. Circular letters, booklets, etc., usually arrive at a busy time of the day and are often a mere waste just for this reason. You cannot talk business with a man when he has something else on his mind. You must have his undivided attention. The newspaper advertisement gets that attention. It is a “ meeting by appointment.”

Governor Haskell in Des MoinesThe new governor of the new state of Oklahoma

was in Des Moines recently to attend the banquet given in honor of W. J. Bryan. The governor is quite enthusiastic with reference to the new law in his state regarding the guarantee of bank deposits. R eferring to same he said:

“ The new bank guarantee law is attracting money from all the surrounding states,” declared Governor Haskell. “ The banks along the Kansas border have raised their rates i per cent, while the Oklahoma banks have reduced their rates I per cent and yet the money continues to flow into our institutions.

“ The banks which are secured have increased their deposits $1,000,000 in the last quarter, five weeks of which have been under the guarantee law, while the non-secured banks have lost $500,000. The national banks are coming in at the rate of about ten a week

and it will not be long before they will all be in. When they come in they subject themselves to the state law which fixes a maximum interest rate to be paid by the banks. The maximum is now 4 per cent on time deposits and 3 per cent on ordinary daily balances.”

State Treasurer of Pennsylvania not in Favor of Aldrich Bill

Former State Treasurer W. H. Berry of Pennsylvania believes that if the Aldrich Emergency Currency bill passes it will increase the demand for state, county and municipal bonds and enhance their value.

He says, in giving his opinion of the bill:“ If the Aldrich bill is passed, and banks are per

mitted to substitute state, county and municipal bonds for the government bonds now hypothecated as security for circulation, the demand for such bonds will be increased and their value enhanced, while the value of government bonds which bear a lower rate of interest will be depreciated.

“ If the Aldrich bill could be so amended as to provide for the issue of legal tender money in exchange for national, state, county and municipal bonds, the currency question would in my mind be settled and currency issued to the full extent of the legitimate demand therefore.

“ This of course would widen the market for state and municipal bonds and tend to increase their value. It would in my opinion provide a market for at least one billion of such bonds, and provide an adequate reserve in legal tender money back of all deposits.

“ My firm conviction is that non-legal tender money is already over issue, and because it continues to come into the banks as deposits and will not stand in reserves when deposited, makes it impossible for the banks to maintain their reserves against deposits, and, therefore precludes its use to any considerable extent beyond the present volume.”

Mr. Berry adds that he does not believe the Aldrich bill will pass, ought to pass or will prove of any value if passed.

E very bank in Iowa not a member of the Iowa State Bankers Association should send $ 5.00 at once to Treasurer Curtin at Decorah and get it. You cannot afford to stay out.


May, 1908 T H E N O R T H W E S T E R N B A N K E R IS

Meeting of the Philadelphia ChapterThe Quaker City Chapter has been doing things

this past season in splendid form, and following their recent annual banquet, they held a special session, on which occasion Mr. R. H. Edmunds gave a very instructive talk about the South. Mr. W. A. Glasgow, counsel for the Interstate Commerce Commission, delivered an address on “ The Duties and Responsibilities of the Interstate Commerce Commission.” The intellectual feast of the evening was completed by a review of the economic events of the world during the preceding months. This was given by Mr. E. J. Cat- tell, corresponding secretary of the Atlantic Deeper Waterways Commission. Mr. Cattell laid special emphasis on the awakening of China. So popular have these meetings of the Philadelphia Chapter become that the “ Standing Room Only” sign is usually hung on the outer wall very early in the evening.

Security Savings of Cedar Rapids to be Elegantly Housed

The work on the new Security Savings bank building is being rushed as fast as possible and great progress is being made toward its completion, says the Cedar Rapids Republican. As large a force of men as can possibly be utilized to advantage is working on the building, representing every department of the trade, but despite the efforts that are beirtg put forth it will be near the first of Tune before the building will be completed and the Security bank located in its new home, although a number of the office rooms will be completed in the early part of May and will probably be occupied as soon as completed.

The building, which is of fireproof construction, will, when completed, be the largest as well as one of the finest office buildings in the city. The rooms w:ll be finished in mahogany stained birch, with red b:rch doors, while the plastering on the walls and ceilings will be what is called the sand finish, with a calcimine

Each of the seven upper stories will contain eleven rooms, all of which will be utilized as office rooms, the greater portion of which have already been contracted for, and it is not anticipated that there will be any difficulty in securing occupants for the balance.

The entire first floor will be occupied by the bank and main entrance to the building-, and the banking- department will be one of the most complete and conveniently arranged banking rooms in the city.

The corner of the basement, next the street and avenue, will be occupied as a barber shop and the balance will be used as a heating plant, for elevator machinery and as a general storage.

The steps on the stairways will be given a marble finish and the railings will be of artistic cast iron with a marble rail. The entire building is to be modern in every respect. The water and gas connections are laid in the solid cement and each floor will have a hose and water connection that will reach to any location should fire happen to develop. The arrangement of the rooms is ideal, and the building is well provided with fire escapes, which makes it a safe and pleasant place to locate, and when completed will be an ornament to the business portion of the city.

E v ery bank in Iowa not a member of the Iowa State Bankers Association should send ft5.00 at once to Treasurer Curtin at Decorah and get it. You cannot afford to stay out.

U b e

Chase ftational Bank® f tbe Citç of Ißew Ports

UNITED STATES DEPOSITORYCLEARING HOUSE BUILDING

Dec. 3, 1907CAPITAL, - - - - $ 5 ,000,000.00SURPLUS AND PROFITS, (earned) - 4,991,134.04DEPOSITS - -_______ - 80,898,767.35

A. B. HEPBURN, Pres. A. H. (WIGGIN, V ice-Pres.E. J. STALKER, Cashier. C. C. SLADE, A ss't Cashier.S. H. MILLER, A ss’t Cashier. E. A. LEE, A ss’t Cashier.

W. E. PURDY, A ssistant Cashier.© hectors

HENRY W. CANNON, Chn. JAMES J. H IL L GEORGE F. BAKER. A. BARTON HEPBURN.OLIVER H. PAYNE. JOHN I. W ATERBURY.GRANT B. SCHLEY. ALBERT H. WIGGIN.

GEORGE F. BAKER, JR.

RationalBanfe of Commerce

in fi.m gorfeI« .» unrvccuco tacuttteg for tt)ctransaction of domestic anD foreign

banning, tljc Pational "Sana of Commerce in Dew port! offers to ban6s ana banners the most liberal terms consistent with consemttbe metboas, ana the assurance that tlje interests of its clients shall at all times receibe its paramount consiBeratton.

Che statement of the conattum of the "Bans on the 22na of augu st last, as Submitteb to the com ptroller of the Currency shotaeb

Capital, . . . $25,000,000.00 Surplus anti | . . OOQ Ann no

Uniututielj profits.; H.928.09Q.22Sepostts, • • . 144,511,475.46

OfficersValentine P. Snyder. President

Thomas F . R y a n , V ice-President H en ry A . Smith. V ice-President W . C . D uvall. Cashier Nedaon O leott, Assistant Cashier O liv e r I . P ilat. Assistant Cashier Joseph Byrn e. J r . , Assistant Cashier F an s R . R ussell, Assistant Cashier

Charles H. ÂEe* George F. Biker CWLs* T. Barney E, J, Berwind C- Ledyard Bl«ir John Claflin Paul D. Crav.th Frederic Cromwell Henry C, Deraing John F. Dry den Jam« B. Duke George J . Gould

DirrctorsTbam** H. Hubka.nl Adrian belie, Jr. Brayton Ivt*James N. Jarr*«A. D. Juiliiard Otto H. Kahn Luther Kouatse Alvin W . Kreeb Woodbury Length»* Charîe» Lanier A. W. Mellon David H, MoffatVictor Mor«wet*

James H Parker Charle» A. Peabody Charle» H. Ru«eU Thom** F. Ryan M H. Schi ff •Valentine P. Snyder Frederick Sterge*K. H. VreeLnd Harry Payne Whataay Georg« W. Young



F R A N C I S B. R E E V E S , R I C H A R D L , A U S T I N , V i c e - P r e s i d e n t . J O S E P H W A Y N E , JR

P r e s i d e n t. T H E O . E. W I E D E R S H E I M , 2n d V i c e - P r e s i d e n t . Ca sh i e r .

T H E G IR A R D N A T IO N A LPHILADELPHIA, PA. B A N K

CAPITAL, $2,000,000. SURPLUS and PROFITS, $3,648,244. DEPOSITS, $28,027,346

ACCOUNTS OF BANKS AND BANKERS SOLICITED

The Commercial National Bank Buildingness and solidity. The Commercial National Bank building embodies the efforts of the modern builders to embellish the sky-scraper and reconcile it to artistic treatment perhaps more satisfactorily than any other tall building in the West. The architecture is Italian Renaissance, and the exterior consists of three architectural divisions. The lower is a colonnade of the Corinthian order set upon a base formed by the first story. This division is forty feet high, capped with a richly developed Corinthian cornice. The massive columns, four feet ten inches in diameter, give a dignity and beauty to the building not possible with the ordinary construction of plain shaft pierced by windows. The middle division, or shaft of the building, is of terra cotta with a decorated surface and rises straight to the fifteenth story, or over two hundred feet from the sidewalk. The topmost division of three stories is composed of an arcade, the arches of which enclose the windows on three floors. The surfaces of the arches are ornamented by the conventional figures of the “ lion’s head” and “ caduceus,” emblematic of safety and commerce, respectively. The whole is crowned by the main, highly-ornamented cornice.

The building is situated on the northeast corner of Clark and Adams streets, 184 feet on Adams street and 190 feet on Clark street, forming a link in the chain of great office buildings surrounding the federal building. There are three entrances, leading from Adams street, Clark street, and through the Marquette Building from Dearborn street.

The building is owned by the Commercial National Safe Deposit Company, of which W. J. Chalmers is president.

D. H. Burnham & Co. are the architects of the building, the work being entrusted by them to the special care of Frederick Phillip Dinkelberg, architect, who also designed all the interior decorations.

The main approach to the banking room is from Adams street by an easy flight of stairs thirteen feet wide, guarded by two handsome bronze piers at the foot and heavy, richly-ornamented bronze rails. The banking room is one of the most spacious in the world, occupying

The Northwestern Banker is pleased to present to its readers some interior photographic views of the splendid new building in which the Commercial National has recently taken up its permanent abode.

This building makes a departure from the style here-

The Grand Stairway, Commercial National Bank Chicago

tofore followed in large office and commercial buildings in Chicago. The dominating effect in the more notable of the older buildings has been that of plain massive



Capital, Surplus & Profits $ 3,000,000

La Salle and Monroe Sts,CHICAGO

Organized, developed and conducted on the principle B of conservative banking along progressive lines,

The National Bank of the Republic,transacting a legitimate commercial banking business in the city $ ® ® 9 o f C h ic a g o , ® ® ® ® believes it can meet the requirements of discriminating bankers.

JOHN A. LYNCH, President W. T. FENTON, Vice-President R. M. McKINNEY, CashierO. H. SWAN, Asst. Cashier THOS. JANSEN, Asst. Cashier

approximately 28,000 square feet, with a main lobby unobstructed by pillars about sixty by one hundred feet. A great span of skylight covers this lobby at a lofty height. The walls and massive pillars enclosing the great court are faced with Istrian marble and Caen stone. The whole interior of the bank office is Greek in spirit, and its architecture depends for its beauty upon proportion and pure line rather than ornament. Its dignity is consistently maintained throughout the entire office. The electric lighting arrangements contribute to this effect. On the floor of the lobby are eighteen handsome bronze candelbra about ten feet high which ornament the room, but conform to the prevailing effect. An information desk flanked by two bronze lamps, check desks lighted by lamps subdued by a shade of bronze and opalescent glass, and wide marble seats along the wall complete the furniture of the public lobby. The Commercial National Bank is one of the oldest of Chicago’s banking institutions, having been organized in 1864 with a capital of $200,000. From the day it first opened for business to the present time it has numbered among its leading stockholders and upon its board of directors some of the foremost business men of Chicago, and has been closely identified with the city’s commercial life and progress.

The surplus of the bank is now $3,000,- 000, and its undivided profits $1,300,000.Throughout its career, notwithstanding the periods of panic and depression covered, it has gone on in an even way, treating its customers with liberality and never finding it necessary to pass, reduce, or defer the payment of regular dividends, which have been declared for ninety-seven consecutive periods.

It is worthy of note that this increasing business has not been obtained by the absorption of other banking .institutions, but is wholly the result of the Commercial National Bank’s own natural and substantial growth.

Since the retirement of its first president, P. R. West-

fall, in 1866, the bank has had but three presidents, to- w it: Henry F. Eames, whose incumbency lasted thirty-two years and ended with his death in 1898; James H. Eckles, who came to the bank from the position of Comptroller of the Currency in 1898 and died in 1907; and the present incumbent, George E. Roberts, who resigned the position of Director of the Mint to accept the presidency in 1907.


T H E N O R T H W E S T E R N B A N K E R May, 190816

G The Banker who pays good money for his ‘Space* expecting satisfactory returns from his advertising, will use great care in the selection and preparation of his ‘Copy.* Are your results satisfactory.G “40 Bank Ads That Bring Business**—a new series, will be sent to any banker on request, for examination and approval. The series sells on its merits. If the Ads fail to meet your requirements, return at my expense.G Eight hundred and fifty banks in the U. S. are now using my advertising for banks. This is an endorsement worthy of your consideration. Every bank purchasing my ads is satisfied, not only with the quality of the ads themselves, but with the results in their business.

H. B. CRADDICK, Nevada, Iowa

Department of Advertising CommentA Series of Monthly Studies in the Best and Mo& Effective Methods of Bank Publicity

By EMERSON D EPU Y

Special Designs For Bank AdsMany of the banks are adopting in their advertising a

special design or trade mark which is constantly _ used, and in this manner the design becomes associated in the mind of the reader with that particular bank. I consider the idea most excellent.

The Iowa National of Davenport work their familiar trade mark into all their advertising. It appears in the magazine ads, on their stationery, drafts, packages, in

short every piece of advertising w h i c h leaves the bank, carries this emblem with it, until it has become familiar all over the country; so familiar in fact that it has been recognized by hundreds of people (in the dark), who never saw Iowa. It is a

strong, striking design and is being handled in a most effective manner.

When you see the little black diamond with the letters in white you at once think of the Irving National Exchange of New York, and of the hustling qualities of President Pierson and his associates whose “ Safe Methods” have done so much to put this bank in the front rank.

The Chicago yearling, known as the National City Bank, with its more than $7,000,000 deposits, also use a monogram, very tasty and attractive as the cut shows. This always appears exactly at the head of their ads, with the words “ United States Depository” on either side. Nothing save extreme

modesty prevents the officers of this institution suffering

from enlarged heads, their first year’s growth having been remarkable.

The old reliable Fort Dearborn National has a characteristic cut of the fort as it appeared years ago, which is used as their trade mark. To see the cut of the fort is to think of the bank, and to think of the bank is to recall a bunch of mighty fine bankers whose efforts to advance the interests of the Fort Dearborn are meeting with abundant success.

Cashier Schroeder, of the Continental National evolved this d e s i g n which the bank is using extensively. It appears not only in all their advertising matter, but also on the windows of their banking room in Chicago. It is no doubt doing its share toward keeping the deposits up to $65,000,000 or more.

In keeping with their name the Hamilton National of Chicago carry a portrait of Alexander

Hamilton, the great financier of the Revolutionary period, in all their advertising. The Hamilton National makes a most careful study of the needs of the banks in the Northwest.

It is hard to get away from the Citizens National of Cedar Rapids, with their striking design, and I presume that is the end sought.The circle in black and white with the bank in the center

IOWA NATIONAL

BANKDAVENPORT 1I1ÉTHE

CONTINENTALnational!

BANKSr of ISSISI

CHICAGO


May, 1908 T H E N O R T H W E S T E R N B A N K E R

makes a most effective and compelling combination. It appears on this page and draws like a magnet.

The battle cry of the Drovers Deposit National has always been “ Quick Service,” and I presume the arrow,

which we usually associate with flying, is emblematic of the quickness for which Bros. Forbes and Benedict have become famous.

The Cedar Rapids National Bank has always been able to make “ Direct Connections,” and make them with certainty and promptness, hence this little °s=v monogram and arrow. No long waits WB » <a§U— at the junction here, no side tracking, no co/v^ b slow freights. I f you wish to “ get there,” get aboard.

The face of old Black Hawk is about as appropriate a trade mark as Bro. McElhinney, of the Black Hawk National of Waterloo, could have selected for his bank, which is but one of the banks in which he is in terested. This bank pays 3 per cent on interest on bank balances.

The United States National of Omaha have a design most

appropriate and very significant. It shows Omaha nearly in the geographical center of the country. The idea was evolved by Cashier Rhoades, and is most excellent. To see that outline map is to think of the United States National. It appears in their ad on page 38.

I think the special design idea a good one and think every bank would find something of this sort most effective in their advertising. The idea is in harmony with the acknowledged laws of suggestion and association and cannot fail to add value to any ad.

Then, too, as an eye catcher these designs are of much benefit, because no ad can accomplish its mission unless it be read, and attracting attention to it is a sure way of having it read.

Many banks instead of using a special design publish an illustration of their building, and this is likewise effective, if the building be imposing. The wise banker realizes he must constantly study the best and most effective methods of publicity, and out of all this study some good bank ads are bound to come.

I am always glad to be of service to the readers of the Northwestern Banker in every possible way.

Push your advertising campaign this year as never before. Get out of the rut. Use ads that convey some information. Go after all the business there is in your community and you will get the larger part of it without doubt. My desire is that this may be the best year your bank has ever known.

What They are SayingCITIZENS STATE BANK, Oakland, Iowa. Is your money making money for you? The more of it you have employed for you, the less you need to work yourself. If you keep on

Capital. Surplus. Etc. - I 262.730 Deposits - - 1.500.000

J. R. Amidon, President T. 0. Munger, Vice-President J. S. Broeksmit, Cashier F. S. McDaniel, Auditor

Excellent Facilities for Handling Bank Accounts

Dubuque, IowaSecond National Bank

* an d *

Dubuque Savings BankCombined Statement

FEB. 14, 1908

ResourcesC ash.......... .. . $ 641,372.47Investm en ts.

T ota l................................................................. $2 ,634,546.64

Liabilities

D eposits. . . .C ap ita l.......... 534,743.06 ¡C ircu lation . .

T o ta l................................................ $2 ,634,546.64

DIRECTORS

W. 11. Day Geo. W. Klesel H. B. Glover Jam es M. Burch U. K. Demlntj Chas. H. Bradley

Frank Bell


i8 T H E N O R T H W E S T E R N B A N K E R May, 1908

To Banks and Bankers Having More or Less Live Stock Business this Bank Offers Exceptional Advantages and Solicits Correspondence as to Terms and Facilities.

Also acts

as Reserve

Agent for

National Ranks

WM. A. TILDEN,President

RESOURCESSevenMillionDollars

R. T. FORBES, GEO. M. BENEDICT,Vice-President Cashier

JOHN FLETCHER,Assistant Cashier

saving and putting your savings to work, the funded capital of your earning years will gradually take up the burden and you will not need to work at all. In the meantime you’re insured against hard luck or hard times. Have you ever thought about having some money at work for you? If not it is time you did if you have any regard for your future comfort or for the well being of those dependent upon you.TH E DYSART SAVINGS BANK, Dysart, Iowa. The business of this bank is conducted on a secure and conservative basis, safety being considered before profits. We aim always to give courteous treatment and satisfactory service, and feel justified in asking for your hanking business.FIRST NATIONAL BANK, McGregor, Iowa. Because of its favorable banking connections in all the important cities of the country and of its close relationship to the local banks of the county it has unexcelled facilities for handling your business. The strength of our bank should be especially considered. Cash resources, $140,000; capital and surplus, $62,500. But the stability of our bank is not alone the resources, capital and surplus, but in the character, experience and financial responsibility of the men back of it and actively interested in the conduct of its affairs. Sound business and sound banking go together. The strength of this bank will give prestige and stability to all your undertakings if you are one of its patrons.T H E RALSTON SAVINGS BANK, Glidden, Iowa. We want the small account of the wage earner and householder as well as the larger firms. We are gratified to see the steady growth of the small deposits and are glad to welcome and help all who wish to better their financial condition.T H E CITIZENS STATE BANK, Panora, Iowa. To those desiring banking connections with a progressive bank, we extend our service.STATE BANK OF W EST UNION, West Union, Iowa. Werealize that the most valuable asset of a bank is that of public confidence and we have always furnished our depositors every safeguard and protection for their funds, and we shall continue to do so in the future as in the past.CITIZENS STATE BANK, Elgin, Iowa. If you have money to burn, keep it in the house where it may be burned, lost, or stolen; but if you want to keep it safely, where it will always be ready for you when needed, deposit it with us. A bank account will give you a better business standing in the community and a prestige that you may never have enjoyed before, If your name is not on our books, we will be pleased to see it there before the close of the year 1908.TH E FARMERS STATE BANK, Audubon, Iowa. Are youready for the financial opportunities that will come to you? Good credit or ready cash—money saved—is needed to seize them. Start a savings account or get a certificate of deposit with us where your money is absolutely safe and at the same time is earning more money. Then when the opportunity comes you are ready to seize it.CITIZENS SAVINGS BANK, Eldora, Iowa. Don’t delay opening a savings account because you cannot start with $100 or more. Many of our large accounts were started with a single dollar and were increased from time to time as the depositor

was able. Twice each year we compute interest on all savings accounts at the rate of 4 per cent. This interest is added to the principal or compounded, increasing the growth of each account without any effort on the part of the depositor. Call and see us if you would like any particulars regarding our methods.W ALKER SAVINGS BANK, Walker, Iowa. Did it ever occur to you that your home bank was the safest to do your business with? While its capital is necessarily smaller its business is confined to its own immediate locality and certainly giving it a better chance to judge the securities it holds, and on these securities is based the soundness of a bank to a far greater extent than the size of its capital. This bank is designed to be helpful to all, and by receiving and safely keeping their hard earned dollars to help those who are helping themselves.OAKLAND SAVINGS BANK, Oakland, Iowa. Depositors like to feel that in bringing their business to a bank they are helping to build it up; in other words they are giving something for what they receive. We want you to feel that way toward us. We are growing—grow with us. We want your account—want to make ourselves useful to you in any thing pertaining to finance—and we can handle it with profit to you and to ourselves.SECURITY SAVINGS BANK, Albert City, Iowa. A check account will furnish you with an accurate record of all amounts spent. It gives you a grip on expenditures because you can tell what was bought, when you got it, and from whom. This method will put you ahead. If you don’t know where you can save, a check account will tell you.COMMERCIAL SAVINGS BANK, Tama, Iowa. We pay youto save. Eighty per cent of the population of the United States are depositors in savings banks, and to this thrifty, economical and provident class is due the prominence of this country today. All over the country people in every walk of life are taking advantage of the interest paid by savings banks on deposits. Our savings department offers a place where your money may be placed in safe keeping and at the same time be earning you an income.

FIRST NATIONAL BANK, Spencer, Iowa. Do you ever stop to think when you spend a sum of money, that you are spending, not only that sum, but also the interest on it for the remainder of your life? Do you ever stop to consider that your savings, at 4 per cent interest compounded semi-annually, doubles in sixteen years? Interest, like a much advertised remedy, “works while you sleep.” Take a minute right now to think.FIRST NATIONAL BANK, Fonda, Iowa. The children of a certain Sunday school were called upon for a special collection on one occasion and each child was required to repeat a verse of scripture as they came forward and dropped their contribution in the box. Things went along nicely and “The Lord loveth a cheerful giver” and similar texts were repeated as they filed past, but the exercises were almost disrupted by one youngster who exclaimed in a loud voice as he dropped his nickel, “A fool and his money are soon parted.” That “text” no doubt expressed his sentiments, as well as the



THE SEABOARD NATIONAL BANKof the City of New York

C A P IT A L $1,000,000. SURPLUS A N D PR O FITS (earned) $1,651,000

A C C O U N T S S O L I C I T E D

S. G . B A Y N E , P r e s id e n t S. G .N E L S O N , V ic e P re s . C . C . T H O M P S O N , C a s h ie r

W . K . C L E V E R L E Y , A s s ’t C a s h ie r J . C . E M O R Y , A s s ’t C a s h ie r .

L . J . D E V A U S N E Y , A s s ’t C a s h ie r . o . M . J E F F E R D S , 'A s s ’t C a s h ie r

sentiments of the gentleman with certificates of stock to sell, each one bearing a large gold seal, the latter being the only thing the color of gold the purchaser will ever get. This bank is still doing business at the same old stand, caring for all deposits intrusted to it, returning them safe on call, extending needed accommodation to customers, rendering a service safe, careful, satisfactory. You should have an account here.FIRST NATIONAL BANK, McGregor, Iowa. Few banks have a larger margin of safety than this institution, which with the watchful interest of a capable and conservative board of directors, and the constant inspection of the national bank examiner, makes it exceptionally strong as a depository for your surplus funds, and equally desirable for the handling of your every-day business transactions. Do not overlook these points of merit.FARMERS SAVINGS BANK, Madrid, Iowa. Every time the second hand of your watch goes around during business hours someone fills out one of our checks and passes it to someone else to cancel an obligation. It is system to use a checking account—nothing helps business like system. We invite you to start a checking account with us. We offer exceptional advantages for both large and small accounts.POMEROY STATE BANK, Pomeroy, Iowa. You can write on a check the exact amount you wish to transfer—$1.00 or $1.99 —any amount. You do not need to have change in your pocket, nor does the other party have to change the money you hand him.IOWA STATE SAVINGS BANK, Lyons, Iowa. Money is ever ambitious, never lazy; it should always be kept in the daylight to grow. Never bury your money. It is not safe; grows moldy, looks sick; disappoints its owner, and is dead for all purposes. Besides this it is cheating its owner and the world out of its legitimate use. Bring your money to us; we will make it work and pay you 4 per cent semi-annual interest.MARION COUNTY NATIONAL BANK, Knoxville, Iowa.You can make a success of saving by starting with a small amount. Success comes by steadily saving small sums. Open an account with us—$1.00 will do it—add to this first dollar regularly whatever you can. The 4 per cent interest we pay will increase your savings materially.SECURITY SAVINGS BANK, Cedar Falls, Iowa. Do not wait until it is too late to begin to save. Men in the past have spent their money and have died poor. Those who are rich saved their money. Which will you do? We pay a premium on coins. Four cents on every dollar left in our care for one year.FIRST NATIONAL BANK, Rippey, Iowa. The principal of the square deal, made famous by President Roosevelt, enters into every transaction with every customer of the First National Bank of Rippey. That this is true is shown by our long list of satisfied customers.PEOPLE’S SAVINGS BANK, Nevada, Iowa. The man wholabors six days in the week for a living, should make an effort to save a part of his earnings for that time in the future when age shall reduce his earning capacity. The man with a bank account is in a position to do this for this plan of set

ting aside a regular amount each month or week from the salary, is the ideal method of saving money. Your deposit will be welcomed at this bank—we will help you save.FIRST NATIONAL BANK, Blooming Prairie, Minn. Fourreasons why you should have a savings book account with this bank: 1. You may deposit money in any amount at anytime. 2. You may draw out your money at any time in any amount. 3. Interest at the rate of 4 per cent is credited to your account on January 1st and July 1st of each year, whether you come to the bank or not, and this interest draws interest just the same as any other deposit. 4. It is not necessary for you to be here on interest days. Bring in your book at any time after the first of January and first of July, and have your interest credited in your book.

A Suggestive CircularIn his last circular, Secretary Dinwiddie says: If anyone

thinks the correspondence of the Iowa Bankers’ Association only desultory or light or the interest in the association flagging, I wish he would come in some day and wade through it. In sending announcement of time and place of holding our next convention, which will be at Sioux City, Iowa, June 11 and 12, 1908, I thought I would also give these quotations and ask you to come to the convention to discuss these and other matters of mutual interest, to take part in and be part of that convention. The following suggestions have been received:

First National Bank, Davenport, L. J. Yaggy, Cashier: “Have a committee appointed to provide practical bankers for receivers for any failed bank, thus assuring more prompt and economical closing up of the bank’s affairs.”

Ottumwa National Bank, L. E. Stevens, Cashier: “Providefor the presence at our convention of some able bank attorney, who would undertake to answer such every-day questions as have perplexed our members and request members to send in their knotty questions in advance.”

Worth County State Bank, Northwood, H. T. Toye, President: “Create sentiment for wise legislation along bankinglines.”

State Bank of Redfield, G. W. Curtis, Cashier: “There islittle show for any right legislation until the bankers get nearer together.”

Cherokee State Bank, Meriden, W. V. Anderson, Cashier: Would protest U. S. money orders when not paid promptly on presentation. He approves the purchase of commercial paper and says: “The meeting, greeting, seeing and talkingwith one another at the annual and group meetings is worth to all, all it costs without the program.”

Citizens Savings Bank, Washington, C. H. Keck, President: “The discussion of legal reserve might bring out a satisfactory reason why the 5 per cent fund which is as inaccessible for practical purposes as virgin gold yet unmined, or a credit balance with a national bank in a reserve city that won’t pay anything, constitutes reserves, while the credit balance in some other good bank that will pay, is not.”

Bank of Sewal, Sewal, A. J. Davis, Cashier: “By unitedaction the bank in each county can do much to meet such emergencies as we have just passed through, the paper held by us to be the basis for emergency help.”

Pella National Bank, Pella, H. P. Scholte, Cashier: “Ibelieve more in the bankers debating together about the



THE DENVER STOCK YARDS BANKLocated in Live Stock Exchange Building, Denver Union Stock Yards, Denver

OFFICERS I, A. VANT, President

C. K. BOETTCHER. Vice-President JOS. S. DAVIS, Ass’t Cashier

DIRECTORSI . A. VANT

HENRY GEBHARD C. K. BOETTCHERGEO. W. BALLANTINE A. H. VEEDER, J r .

We receive accounts o f individuals, firms, corporations, banks and bankers on favorable term s and shall be pleased to m eet or correspond w ith those w ho contem plate m aking changes or open in g new accounts.

If not already a customer we invite you to become one

Located at the Denver Union Stock Yards, we are enabled to give close attention and quick action to business pertaining to shipments to the market. But our location in no ways interferes with business not of this nature; our mail faciiities enable us to give prompt attention to any business entrusted to us.Send Us Your Western Collections

topics of interest to bankers than in any set speeches, unless the speakers are A No. 1, qualified bankers. I do not take much stock, and less interest, in academic desk financiers ana politicians.” ,

First National Bank, Grundy Center; R. M. Fmlayson, President: “The officers of the association do all they canto make the meetings a success. Any failure must be charged to members. It is hard for any good to be received from addresses or exchange of ideas if we go only for an outing or a good time.” , , .

Peoples Savings Bank, Nevada, H. B. Craddick, Cashier.“The program at the coming meeting should include an

address on Bank Advertising. As each bank as a rule is his own advertiser, it is only natural that he would want to learn the best methods.”

Wm. F. Reickhoff, Orange City, Iowa: “The CountryBankers’ Association organized in our county last November, while it provided for care of each bank, did more in creating a friendly feeling between bankers. I believe these county organizations should be extended all over the state.

Subjects for DiscussionHardin County State Bank: “Plans for central bank.”Citizens’ Savings Bank, Washington: “Legal reserve. Is

it for use or ornamental?”John C. Cleary, Hornick, Iowa: “Why have banks gener

ally lost their dignity?” “Our Currency.” “Banking laws, and what ones should be remedied?” “Formation of an insurance company for the protection of depositors.”

Geo. L. Tremain, Humboldt, Iowa: “The panic, its causeand effect.” “Postal savings banks.” “Do we really need more money?” “The fallacy of insuring deposits.”

A s to Postal Savings BanksVery few mention the matter; a few favor; others are

against.The Commercial Bank, Hornick, says: “How could any

reasonable minded business man entertain a thought favorable to them.”

The People’s Trust and Savings Bank, Clinton: Notstrongly opposed.

Pella National Bank, Pella: Favorable in a limited way.A s to Insurance of Deposits

The State Bank of West Union says: “It should be how,rather than whether.”

Stickel & Son, Bloomfield: Are uncertain as to the feasibility of insurance.

Northwestern State Bank, Orange City, says that: “Anyobjection to insurance is a selfish one,” Mr. Short, the cashier, would organize a company for that purpose.

Worth County State Bank, Northwood: Is inclined tofavor the idea.

The President of the Peoples Trust and Savings Bank, Clinton: Would have the depositor buy insurance as he buysother insurance.

Pella National Bank says: “Guarantee of deposits hascome to stay.”

First National Bank, Grundy Center: Is in favor of somesort of deposit insurance.

Wm. Fitz, of Manson, says: “Any law providing guaranteeof deposits should be broad enough to include private banks and all others.”

The Battle Creek Savings Bank says: “When a man putsmoney in a bank he ought to have some reasonable assurance that he could get it out, and would like a discussion of the question of deposit insurance.” Also the question of purchase of commercial paper.

A s to Asset and Em ergency CurrencyThe replies were many and various, and as this question

will also be discussed at the convention I will not repeat them. Many banks wrote, suggesting speakers, and a number of banks wrote, especially recommending a membership in the association as a good investment.

The State Bank of West Union says: “The Torrens lawrelating to titles should be enacted.”

Lewis on AdvertisingIn an address before the Advertising Men’s League

a few weeks ago in the cause of municipal advertising, J. A. Lewis, cashier of the National Bank of Commerce in St. Louis, said:

“ Being a banker, and, therefore, naturally feeling a great pride in any achievement in that line, I think you will pardon me for here calling attention to the fact that for over thirty years there has not been a failure of any consequence among the banks in this city—a fact, I believe, not true of any other large city in the country.

“ This one fact has given St. Louis an advertisement that is of inestimable value, as it is generally known and commented upon everywhere favorably.”

In speaking of his bank, Mr. Lewis said:“ The National Bank of Commerce believes in ad

vertising. Regarding the advertising done by this bank, will say that we are great believers in advertising, and have spent quite a good sum of money in advertising our bank, both in the street cars and through the daily papers and periodicals published in this city and outside of the city.”

Meeting of Group FourGroup Number Four of the Iowa Bankers Associ

ation will meet in Dubuque on May 6th. This Group has 77 members and comprises the counties of Allamakee, Clayton, Chickasaw, Delaware, Dubuque, Fayette, Howard, and Winneshiek. Mr. M. V. Henderson, Jr., of Hawkeye is chairman and Mr. D. B. Allen of Arlington, secretary. An excellent program is being planned and a rousing and enthusiastic meeting expected.



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They All Want the ConventionThe American Bankers’ Association, through its

secretary, Fred. E. Farnsworth, has received the following invitations for the next convention of the Association :

From the banks and the Business Men’s Association of Saratoga, that the convention be held at that place. This invitation is re-inforced urging the Association to accept Saratoga for the next place of meeting and promising hearty co-operation and support from the banks and business associations of Albany, Schenectady, Troy and Glens Falls.

From the banks and the Convention League of Denver, Colorado.

From the Business Men’s League of Hot Springs, Arkansas.

These invitations will be submitted to the Executive Council May 4th next, when a decision will be reached as to time and place.

First National Bank, MinneapolisAt the last meeting of the board of directors of this

staunch institution, the permanent surplus fund was increased to $2,000,000, which now makes the capital and surplus $4,000,000. Owing to the extensive facilities afforded customers of the First National in their new banking house, their business is very rapidly increasing, not only in the state, but also in the forming of new connections in the country. Another thing which is pleasing to the officials of the First National is the fact that bankers in the northern section of Iowa are realizing more and more that Minneapolis is an advantageous point through which to clear items on the Northwestern states, and they furthermore find that Iowa banks are liberal purchasers of commercial paper. This paper has a very high standing in all parts of the country. We congratulate the First National on the splendid showing they make, which is in perfect harmony with the great growth and development in the mighty Northwest.

N ew Members A. B. A.The following Iowa banks joined the American

Bankers Association during April :C a s e y ................................................Abram Rutt NationalHam pton.............................Franklin County State BankLittle Sioux........................... Little Sioux Savings Bank

Marengo ...................................................... First NationalM echanicsville...................Mechanicsville Savings BankNorway .................................................... First NationalOrange C ity............................. Northwestern State Bank

Demand a ReductionThe First National and Farmers’ National banks of

Webster City, Iowa, have asked for a reduction of $160,500 in their assessed valuations. Their request is backed by a recent decision of the district court in Polk county in which it was held that government bonds in the hands of a savings bank are not assessable. Over and above the amounts they hold in government bonds, however, they ask a 10 per cent reduction for bad loans, mortgages and other securities. The council refused the request and it is announced will fight the matter through the supreme court if necessary.

The council holds that while government bonds in savings banks may not be assessable, the rule would not apply as to national banks. The former issue no banknotes, while the latter can issue notes to the full amount of its government bonds, thus getting 2 per cent dividends from the government and loaning a full issue of banknotes on the bonds. The council holds the position of the banks to be little short of preposterous. Were their request to be granted it would lose Webster City over $1,600 in taxes annually, which amount would have to be made up by the general taxpayers in an increased levy. The banks named have not yet appealed to the courts, but it is thought they will do so in time to get into the May term.

Davenport Clearings Show GainMore money has changed hands in going between

the Davenport banks during the month of "March of this year than during the corresponding month of 1907. Last year, March, the clearings of the banks of Davenport amounted to $5,538,821, while during March, 1908, they amounted to $5,787,357. This is an increase of 4.48 per cent. The bank clearing cannot be judged by the daily figures on account of "the fluctuations and wide range of the amount of business transacted from day to day. But in taking a whole month, a good average is obtained, serving as a gauge to the amount of money changing hands and the amount of business transacted.



r p j C a p ita l, S I , 0 0 0 ,OOO1 116 S u rp lu s, 5 0 0 ,0 0 0

National Bank of CommerceMINNEAPOLIS, MINN.

EXTENDS TO ITS PA TR O N S THE BEST SERVICEO FFIC ER S

S. A. H arris, PresidentA. A. Crane, V ice-Pres. W. S. McLane, A ss’t Cashier P E Kenaston, V ice-Pres. S. S. Cook, A ss’t Cashier W. S. H arris, Cashier. I. F. Cotton, A ss’t Cashier

Davenport Savings is Thirty-eight Years OldThe Davenport Savings Bank is 38 years old, _hav

ing first opened its doors to the public on April I, 1870. The bank started with a capital stock of $12,- 000, which has gradually grown until the bank now has a paid-up capital of $300,000. The first officers of the bank were as follows:

President— Charles E. Putnam.Vice President—W. E. Sherman.Cashier—E. S. Carl.The bank lias grown until it is today the largest

strictly savings bank in the state of Iowa, cariying no commercial accounts, thus placing all depositors upon an equal footing. \Villiam O. Schmidt is the present president, Louis Haller, vice president; Henry C. Struck, cashier, Otto L. Ladenberger, teller, and W. H. Wilson, attorney.

Secretary Shaw Goes to PhiladelphiaLeslie M. Shaw, former secretary of the treasury,

has undertaken to re-organize the First Mortgage Guarantee & Trust Company of_ this city, and will assume the presidency of the institution as soon as the details of reorganization shall have been perfected.

The company makes a specialty of guaranteeing the principal and interest on mortgages and until recent!} conducted a general banking business. Mr. Shaw is expected to bring into the affairs of the company new capital and new men, as well as new methods.

Minnesota Bankers to Work for Lower InsuranceRates

Lower and more uniform rates for burglary and fidelity insurance, and the creation of a fund to be secured by having all banks which are members of the organization place their insurance through the secretary in some eastern company, and allowing the association the commission which otherwise goes to agents placing the insurance, are ends to which the Minnesota Bankers’ Association are now working, says the Tribune. Charles R. Frost, who is assistant secretary, and who has just opened offices on the third floor of the Northwestern National bank building, will give his entire time and attention for the next few weeks to the insurance question, which is even now commanding a major part of his time.

“ There is no arrangement of the sort proposed now existing,” said Mr. Frost. The banks place their insurance in many different companies and some get an

equitable and uniform rate and others pay dearly. Agents for the fidelity and liability companies earn good commissions in placing the insurance. ‘‘Under the plan proposed,” says Mr. Frost, “ the assistant secretary will be made an,agent, and if the members of the association agree, he will be empowered to place their insurance and to keep out a small commission, which will be credited to the Bankers’ association. Whatever company it is agreed shall be given the insurance, will be required to make an equitable and uniform rate. In this way, it is certain that the members of the association will be benefited in some cases to a considerable extent.

“ The Missouri State Bankers’ Association has just such an arrangement as that which we hope to perfect. In that state we are informed the plan works beautifully.”

The Minnesota Bankers’ Association numbers 759 banks as members. Any officer or director of a bank is also a member, so that probably 5,000 or 6,000 people are directly interested to have the details of the scheme complete and a general outline in the hands of every banker in the association prior to the holding of the annual convention at Duluth in July. At that time it is expected that Secretary Ernest C. Brown, who is unable to give all his time to the business of the association, will decline election in favor of Mr. Frost, the present assistant secretary. The rate question will be the all-absorbing topic at the state convention. The program for the Duluth meeting now in course of preparation will probably be ready for publication in three or four weeks.

Makes no Difference to BoardAlthough two district court judges have decided

that government bonds must be deducted in assessing the capital stock of national banks, the Polk county board approved the assessment of three banks, whose bonds were not deducted. ,

Attorney C. C. Powell appeared for the Des Moines National and Citizens National banks and urged that as the banks have already won two cases in the district court they should not be put to the expense of making another appeal. But the board is of the opinion that until the question is decided by the supreme court it would not be wise to reduce the assessment. Attorney Ayers appeared for the Valley National Bank. The Iowa National Bank had also filed a protest, but its case was not heard.



An Auspicious OpeningThe Cedar Rapids National have taken possession

of their new quarters, and are “ at home” to all their friends. The Republican gives the following report of the “ house warming,” and in another column of the Banker we give a description of their new home:

In the beautiful new banking rooms of the Cedar Rapids National Bank there was gathered a large attendance of men and women and the occasion was one of the most memorable in the history of the city.

It was a scene fitted to make Cedar Rapids proud of this new addition to the city’s metropolitan features and proud of the men who have provided it. The artistic combination of marble, solid mahogany, solid bronze and artistic iron work made a picture of architectural excellence such as is seldom seen, even in the larger cities, and the officials of the bank were showered with congratulations. The immense vault, with the wonderful mechanism for its protection, as explained in Sunday’s Republican, attracted much attention and there was a continual procession through the passage way until a late hour in the evening.

President Averill and all the other officials and clerks of the bank were present last evening to receive their gusts and there were present also Mr. Ralph Van Vechten of Chicago, and Mr. J . H. Ingwersen of Clinton, both of them former cashiers of the bank, also Mr. John Fletcher of Chicago, former assistant cashier of the bank. All of these gentlemen take the deepest interest in the growth and progress of the institution, and they were delighted with the excellent results of the patient planning that began many months ago.

The bank had the biggest day in its history yesterday. With its ideal location, its many attractive features and its many conveniences it will be more popular than it has ever been before; and that is saying much.

Minneapolis Bankers Attend National MeetingSeveral Minneapolis bankers will attend the meet

ing of the executive council of the American Bankers’ Association, May 5th and 6th, at Laurel-in-the-Pines, Lakewood, N. J. Joseph Chapman, Jr., is a member of the council and A. A. Crane is treasurer of the association. George F. Orde is one of the three members of the special committee on uniform negotiable instruments law. This committee will meet May 4th at the same place. The other members are Edward D. Keys of Springfield, 111., and Homer A. Miller of Des Moines. The Minneapolis men will go east with the party from Chicago, including George M. Reynolds, August Blum and J. L. Hamilton.

Novel Plan to Increase DepositsThe Commercial Bank of Menominee, Mich., has

evolved a novel plan to increase its deposits. It offers to start 1,000 new accounts for 1,000 children 12 years of age or younger, and agrees to present to each child for whom an account is so opened the sum of 50 cents. The amount of the account is to be opened at $5. A deposit of $ 1 will be accepted and the 50 cents will be credited as soon as the amount reaches $4.50.

Chartered 1871No. 2886

The Valley National BankDES MOINES, IOWA

Points with pride to its record and asks for business from the Bankers of Iowa on the basis of

Careful M anagem ent A m ple Capital

Strong D irectoryLiberal T reatm ent

Official Supervision of A ccou n ts U nsurpassed Par F acilities and

R eserve A gen ts for N ation al Banks

The Valley National Bank------------A n d -------------

The Valley Savings BankU n der O ne M a n a g e m en t,

HAVE COMBINEDCapital and Surplus . . $ 500,000.00Deposits . . . . . 3,000,000.00

OFFICERSR. A. CRAW FORD, Prest; D. S . CHAMBERLAIN, V ice-Prest C. T. COLE, Jr., V ice-Prest. W. E. BARRETT, Cashier.

GEO. G. HUNTER, President O. B. FRYE, Ass’t SecF. M. RICE, Supt. of Agents C. H. MARTIN, TreasurerC. S. HUNTER, Sec’y W .L . R E A D , Gen C o u n se l

DES MOINESFire Insurance Company

OF IOWA

ANNUAL STATEMENT, JANUARY 1, 1908[To Insurance Department, State of Iowa]

ASSETS

Real Estate owned by Company---- $118,330.00Cash on hand in Office and Banks.. 38,670.14Mortgage Loans on Real Estate 221,811.90 Loans Secured by Pledge of Bonds 1,311.00 Cash in course of Transmission---- 30,162.23Unmatured Bills Receivable ....... .Stocks and Bonds Owned by Co__ • 82,37g.2o

Total ............................... .

LIABILITIES

Capital Stock ..............................Re-Insurance Reserve ..................Losses in Process of Adjustment Net Surplus ..................................

, 444,164.60 .. 14,070.47•• i 5 5 , 7 3 3 - o 6

Total ............................... .

Surplus as to P o licyholders$255,733.06


24May, 1908T H E N O R T H W E S T E R N B A N K E R

The Burroughs Adding Machine Company, with its offices and plant in Detroit, represents the effort and the success in the adding machine field. Devices have been known for making mathematical calculations ever since Pathagoras made computations on the Abacus, but no machine of high commercial value ever was invented until the Burroughs was put on the market. And since the first machine appeared the company has over 60,000 in daily service, covering the four points of the compass. The factory is now required to produce a new machine every seven and a half minutes to meet the rapidly grow ing demand. An obelisk four miles in height would be insufficient to hold all the Burroughs adding machines now on the market of the world.

It was said of Burroughs that he loved the machine better than he did the dollar; that he never made it to sell; he simply wanted to see if it were possible to make a giant mathematician without the five senses. I f this could be done, lie reasoned, there would need be no fear of marketing it. That would come by reason of its novelty, its usefulness.

The leading impulse in his life was perfection, accuracy and truth. His drawings were made on metal plates with hardened tools ground to a point. When he drew a line it endured as a marvel of accuracy. Today his work is used as a standard and it remains a monument to his love of truth. He not only wanted the best machine built, but the best built machine, one which would possess the qualities of endurance. Day after day he worked trying to perfect his ideal. Once, it is reported, that he continued in constant search for the solution of a mechanical problem which would crown his labors for forty-eight hours, without a wink of sleep and only a bit of food to eat. “ I am bound to win,” he is quoted as having said, “ and I won’t give up.” Poverty was knocking at his door, but he fought it away with courage and determinatoin. He had a great mission to perform for humanity’s sake. Many inventors had created labor-saving devices; but

Burroughs was aiming to produce a machine which would save both the labor of hand and brain. No one knew better the value of such a machine than he, since he had experienced all the hardships of constantly laboring with figures.

It was aften seven years of almost constant toil and the expenditure of $300,000 that the first machines were placed on the market. , Soon after they were sold Burroughs discovered a new feature greatly improving the utility of the machine. Therefore, characteristic of the man, he recalled the machines and with his own hands took over fifty of them and threw them out of the shop window, smashing them to pieces.

A broad, shaded boulevard runs in _ front of the Burroughs plant at Detroit, giving the visitor at once a restful feeling and accentuates the idea that the best work can be accomplished only when labor is a pleasure. The plant in many respects is a model.

The general manufacturing department is directly connected with the office buildings. There is a wing 196 feet by 88 feet joining the main building, and the total floor space is 68,620 square feet. In this wing are the shipping room, polishing room, hardening room, gymnasium, nickel plating room and boiler room. This building was erected in 1904, but the growth of the business demanded more space. Since the first building was erected the floor space has almost been doubled, so that today the total area covered by the plant is 422x423 RH, or about four acres.

As the visitor goes to the second floor he is at once impressed with the model offices. The light and ventilation, as well as the sanitary construction all tend to develop the feeling of satisfaction and comfort. In the offices the light is admitted by large windows on every side; but in the factory the saw-tooth roof is used, which gives an even distribution of light in all parts of the plant.

There is nothing which impresses the visitor more than the evident desire of the company to surround its work-



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men with an environment which will develop the best in each individual. There is a spacious, roomy gymnasium or auditorium, 84x49 feet, for noon-day gatherings, games, hand-ball, weekly dances and other functions. There are hygienic washrooms and drinking fountains, individual lockers, as well as many other features which eliminate the drudgery of constant toil. The result of the influence of the personal- equation among the employes tend to build up a permanent organization.

The visitor is impressed with the instruction school, where experienced inspectors train students as mechanical experts. These students are picked from the factory by virtue of their efficiency, and are given a chance to show what is in them. They are given a thorough test in order to determine if they are qualified for the duties of inspectors. After a thorough training they are sent to the testing department, and sometimes to the branch offices as mechanical inspectors.

Every successful business must keep up with the ever onward progress in the field in which it operates. The Burroughs Company, therefore, is maintaining inventions department at an enormous expense in order to build machines to meet every conceivable demand, as well as to discover improvements in the standard styles. This work is in charge of J. G. Vincent, assisted by a staff: of over 100 associate inventors, designers and experimental mechanics.

The first Burroughs was originally designed for use in banks. As business systems developed, the various kinds of adding machines had to be built to meet all the demands of a complex commerce. There are, therefore, now over 200 different styles and combinations, used in about 300 lines of industry. There was a time before the advent of the loose leaf ledger when the adding machine was simply what its name indicates. But now, with the 15 bank machine, fitted with a wide carriage, which will take a ledger sheet eighteen inches wide, most all forms of bookkeeping may be accomplished on the machine, then the sheets may be filed away in the binders, and the work is done with greater accuracy and legibility.

Change of Date Group 6A change of date in meeting of Group 6 has been found

necessary, and instead of being held 'on May 5th, as formerly announced, the meeting will take place on May 12th at the Savery in Des Moines. Hon. G. E. Roberts, president of the Commercial National Bank, Chicago, will be the speaker of the evening.

“McArthur’s Bank Prescriptions.”Those of our readers who will allow Mr. McArthur to

prescribe for their business will find if they “ follow directions” carefully that new life will soon be apparent in every department. This book which has been advertised in our columns for some months contains samples of the ads which Mr. McArthur used in building up the deposits of his bank to an astonishing figure, taking into account the surrounding circumstances. The small sum at which the book is sold will prove to any bank that buys it, one of the very best investments they ever made.

Yakima Trust CompanyWe desire to call the attention of our readers to the

advertisement of the Yakima Trust Company, North Yakima, Washington, which appears in this issue. Among the residents of the Yakima Valley the Yakima Trust Company is called the “ Iowa Bank” because of the large business of former Iowans which it enjoys, and for the further reason that the vice-president, H. C. Lucas, is a former Iowan, having started his banking career with the Valley National of Des Moines, of which his father, W.D. Lucas, was the cashier for many years, and later being associated with Frank Y . Locke in the Sibley State Bank. The cashier, C. H. Royce, is also an Iowan, having been cashier of the First National of Harris, and more recently vice-president of the Shenandoah National.

These two Iowa boys are associated in the management of the Trust Company and they request the readers of the Northwestern Bankers, who have friends and customers going to central Washington, to give such customers letters to the Yakima Trust Company with the assurance that by so doing you will confer a favor on the institution and your customer as well.


2Ó May, 190ST H E N O R T H W E S T E R N B A N K E R

Capital and Surplus $510,000.00

Peoples Trust & Savings BankCLINTON, IOWA

J H. INGWERSEN........President A n up-to-date, conservative CommercialC F. ALDEN .. .Vice President and Savings Bank catering particularly to ac-L. LAMB ............. Vice President counts of Banks and Bankers in its territory.

C. B. M ILLS.........Vice PresidentW. W. COOK ...................CashierJ. L. B0 HNS0 N ___ Asst. Cashier

President Reynolds Talks Interestingly onthe Currency Question

Arthur Reynolds, president of the Des Moines National Bank and member of the Currency Commission of the American Bankers’ Association has recently returned from Washington where he spent some time in the interests of the right kind of currency legislation.

In an authorized interview given to the daily press, Mr. Reynolds says:

“ A meeting of the currency commission was called at Washington last week for the purpose of appearing before the banking and currency committee of the house and, if possible, defeat the Aldrich bill. The hearing which was given our committee was all that we could ask, and I feel very safe in saying that the Aldrich bill has been thoroughly and effectively put to sleep and I am sure that it will not be brought up in this term of congress. Indeed, the committee on banking and currency in the house has refused to report the Aldrich bill. There is, however, a bill in congress at this time introduced by Mr. Vreeland, of New York state, which is somewhat of a compromise measure. It embodies the bond-secured feature advocated by the Aldrich bill and makes an added provision whereby banks in one city or numerous cities not less than ten in number and of not less than $10,- 000,000 capital may organize together under the name of a clearing house for the purpose of issuing a credit currency, in other words, based upon the segregated commercial assets of the bank. It is provided that this currency may be issued to the extent of 75 per cent of the securities deposited with the clearing house committee, the notes to be forwarded direct from Washington and to be exact in form with the present bond-secured note with the exception that the clause reading 'Secured by United States bonds deposited with the treasurer of the United States of America,’ be stricken out and thus make both forms of notes exactly alike so that the public should not be alarmed when the issue of credit currency came out. These notes are to be further secured as a first lien upon the assets of the issuing bank and are to be guaranteed by all the banks composing such clearing house. The notes may be retired by depositing funds

with the government for such purpose exactly as the bond-secured notes of today are retired.

“While I personally never have been in favor of any kind of currency which contemplates the segregation of

A R T H U R R EY N O L D S President Des Moines National Bank

a definite kind of security for the protection of the same, and while it has repeatedly been shown that one-eighth of 1 per cent would have taken care of the notes of all failed national banks in the United States during a period



M E R C H A N T S N A T I O N A L B A N K O F C E D A R R A P ID S , IO W A .

OFFICERSJOHN T. H A M I L T O N , President P. C. FRICK, V ice -Pres identJAM E S E. H A M I L T O N , Cashier E. H. FU RRO W , A s s ’t. Cashier

Capital and Surplus $200,000

S E R V IC E :--- q u ic k , in t e l l ig e n t, thoroughly sa tis fa c to r y

jof forty years without any security at all, and while I still believe that the public will ultimately become educated to a credit currency pure and simple, based upon the assets of banks similar to the systems which are in vogue in all foreign countries which will contract and expand to meet every requirement for currency without disturbing any of the business affairs of the country such as has repeatedly been the case in the fall of the year and during stringent and panicky times, yet with one or two modifications I think the Vreeland measure can become of inestimable value to the bankers of the country, providing we were to run into such times as we had last November and December. I believe that the tax of 6 per cent and cost provided by the Vreeland bill, making the cost to bankers about 7 per cent is unnecessarily high and imposes a burden upon the general public at a time when such should not be the case, for the public in the end must not only pay the tax, but a profit to the banker as well. Hence, I believe that the tax in the Vreeland measure, which is intended to be only a temporary measure, should not be over 3 or 4 per cent, and that instead of making the tax higher, banks should be compelled to carry in their vaults a reserve against the bills issued by them in order to be in a position to take up the notes promptly when presented at their counter. This reserve, I think, should be the same as is required to be carried against deposits, although possibly at the start a smaller reserve might serve the purpose—say 10 per cent reserve upon the notes issued. Also the clearing house should be made up of not less than five banks with $5,000,000 capital.

“ In connection I might say that the currency commission was favored with an interview with President Roosevelt upon this subject and two conferences were held with Mr. Vreeland and it is the hope and belief that Mr. Vreeland will in the end amend his bill to somewhat meet the suggestions of the currency commission.

“ Following upon the hearing before the banking and currency committee in congress, Mr. Fowler, the chair man, introduced a bill providing for the appointment of a commission by congress of forty-three members to take up the question of currency reform and make an exhaustive study of the same with a report to congress for action. This bill, I believe, will pass. And if the commission is appointed along the lines outlined by Mr. Fowler, it will be a very comprehensive one, including legislators, bankers and business men. And I have great faith in the ultimate outcome of the work of such a commission.

“ While in Washington the commission had a confer

ence with the speaker of the house who stated positively that some legislation undoubtedly would be passed at this session of congress and he also favored the appointment of a commission by congress.

How Chicago Banks RankThe rank of thirty leading Chicago financial institu

tions as per deposits at last call, is shown in the following table. It will be noted that there are fourteen banks above the $10,000,000 line and nine whose deposits exceed $5,000,000. This is a most notable showing:

Deposits.1— First National.............'..............................$102,164,3192— Illinois Trust ........................................ 78,102,1813— Continental ............................................. 64,724,7474— Corn Exchange .................................... 54,138,1025— Merchants L o a n .................................... 48,696,8086— Commercial National ............................ 41,287,3117— First Trust ............................................. 30,528,1038— Northern Trust .................................... 25,654,70s9— American T r u s t .................................... 24,368,485

10— Hibernian Banking ......................... . 19,929,1431 1 — National Bank of Republic................. 18,660,19312— Bankers’ National ................................ 18,519,29813— State Bank of Chicago......................... 16,070,39514— Union Trust .......................................... 10,528,97815— Central Trust ........................................ 9,899,75016— Fort Dearborn National...................... 9,887,9261 7— Live Stock Exchange........................... 9,221,00218— National City ........................................ 7,245,26719— Hamilton National ; ........................... 6,642,40420— Drovers’ Deposit .................................. 6,633,5462 1— Western Trust and Savings................. 6,200,80322— Prairie S ta te .......................................... 5,899,85423— Foreman Brothers’ Banking............... 5,693,64224— Royal Trust .......................................... 4,098,03325— Metropolitan Trust ............................. 3,775,61326— Pullman Trust and Savings............... 3,384,86427— Chicago Savings .................................. 2,816,58328— Harris Trust and Savings................... 2,766,80129— First National of Englewood............. 2,137,91730— Colonial Trust ...................................... 2,085,608

One of the encouraging things regarding the guarantee of deposits question is the thoroughness with which the subject is being discussed and ventilated. Opposition to anything is always good, because facts are thus brought to light. Beware of that which all men pronounce good. “ Woe unto thee when all men shall speak well of thee.”



The Northwestern BankerPUBLISHED MONTHLY AT 402-404 CROCKER BUILDING BY

The Northwestern Banker Publishing CompanyD ES M O IN ES, IO W A

been advanced from the position of auditor to that of assistant cashier.

“ A C A Q U I F R ’ Q p u c p i / n F o r $2.00 is a ll th a t is req u ired to secu re the O f t o m t n a u n c o r s m o n th ly v is it s o f th e N o rth w estern B a n k e r

fo r an en tire y e a r . E a c h issu e c o n ta in s fro m 56 to 64 p a g es o f m ig h ty in te re s tin g m atter p e r ta in in g to b a n k s and b a n k in g in te rests in th e te rr ito ry co vered b y th e m a ga z in e . T h e p rice o f a s in g le co p y is tw e n ty cents.«ni I d rnRRPiPnNnFMK" E v e ry b a n k in the N o rth w e st is in-

U U R L U r i K b a r U I ' l l J t l ' l l o v i ted to a p lac e on th is list . Send usitem s o f lo c a l in te rest, te ll us ab o u t y o u r b an k and its g ro w th , p ro sp ects, etc ., a lso a n y o th er f in a n c ia l n ew s o f in te rest to b an k e rs in y o u r sectio n .“<?irHT DRAFT«?” W e a lw a y s c a rry a la rg e “ R e se rv e ” o f go o d w ill

o i u n 1 u/n /-\r 1 0 an d a d d itio n a l serv ice , and w ill p ro m p tly hon ord ra fts m ade upon sam e by a n y b an k . T h is d ep artm en t is fo r y o u r sp ec ia l b en efit. Do n ot f a i l to a v a i l y o u rs e lf o f it s p r iv ileg e s.‘ «A C L F A R I N C H O U S E ” ° u r co lu m n s are a c le a r in g house fo r a ll

M n u u o t ou r read ers. E x p re s s y o u r v ie w s on a n y ,to p ic o f in te rest to th e b a n k in g fra te rn ity and su b m it sam e fo r p u b lica tio n . Y o u do n ot h a v e to a gree w ith us, or w ith a n y one else. W e lea rn th in g s b y an in terch an ge o f id eas, an d peop le w ith w hom w e d isa g re e o ften pro ve va lu ab le teach ers. We sh a ll be g la d to h ea r fro m yo u .«Mn PRDTFST” H a s ever been o ffered to th e sta tem en t th a t th e field

INGI r r u j 1 t o co vered b y th e N o rth w e stern B a n k e r is th e m on ey pro ducin g sectio n o f th e A m erican co n tin e n t, r ich in h ogs, c a tt le , co rn , etc., an d dotted w ith th o u san d s o f p ro spero us b a n k s , a ll d o in g a good busin ess.

"SURPLUS AND UNDIV ID ED PROFITS” ^ th “ hop*7 b ^ n Sw hose ad vertise m e n ts a p p ear re g u la r ly in the co lum n s o f th is m aga z in e . F u ll in fo rm a t io n as to ra tes and ou r sp e c ia l serv ice , w il l be p ro m p tly fu rn ished on a p p lica tio n . Y o u r b u sin ess so lic ited and apprec iated .

"SECOND CLASS M A TTE R ” S a s Ü T t í m L ^ h e 6 D ^ M o t L f p o s Uoffice. T h is is done in order to co n fo rm to th e p o sta l la w s ; e v e ry th in g p erta in in g to th e jo u rn a l, sav e th is e n try , b e in g s tr ic t ly first-c iass.

M AY, 1908

Editorial N otesfBe cheerful, and pass it on.”

“ I have had many troubles, most of which never happened.”

f Let us remember that we cannot legislate men into ncinesty.

And the “ panic:” Where, oh where, has my bogie man aone?

Receipt for a sure raise of salary: Earn more thanyou are now getting.

A bank clerk and an automobile that cost a year’s I salary never go well together.

‘ ‘The man who gets as much fun out of putting two dollars in the bank, as he does in spending it, is a financier.”

Simply mailing a statement which the average “ layman” does not understand, never increased deposits to any very great extent.

The up-to-date banker no longer thinks a frosty exterior an aid to business. It is the warm sunshine, not the frost, that makes things move.

Man is a reasoning creature. Show him why he should deposit his money in your bank, and if your “ why” is a good one, he will come your way.

The out-of-town business of the Corn Exchange National Bank of Chicago is increasing rapidly under the able management of James G. Wakefield, who has

Group Eleven, of which Jno. A. Dunlap of Keokuk is chairman, has a membership of 61 out of a possible 73. Better make it unanimous, gentlemen.

The door to greater opportunities always is ready to open to the man who fills his present position so full that he sticks out all around the edges.

Good will has sometimes been called an “ Intangible asset.” The term is a misnomer. Good will is as tangible as real estate, and more so than money in the bank, during a panic.

That man is a fool who thinks he can sow “ wild oats” and reap wheat. Such reaping from such sowing, no man ever garnered, yet every day the poor

\deluded sowers go forth to sow.

“ Elastic Currency” is what we all want. The man who will make a ten dollar bill elastic enough to buy twenty dollars’ worth of groceries has a warm spot waiting for him in the hearts of his countrymen.

The “ Live Wire” from Council Bluffs, Mr. C. E Walters, ran into our office the other day, and gave us some choice vibrations. Walters always has the current turned on, and can make connections instantly.

The State Bank of Monticello, Iowa, has $1,500,- 000.00 on deposit, which is over $750.00 per capita for its entire population. We do not wear automobiles on our watch charms out her in Iowa, but we are getting along quite well, thank you.

The Commercial West tells of a bank president in some little town up in North Dakota who ordered his paper stopped because he did not care for it, -and never opened it. Needless to say he will always remain in some little town up in North- Dakota.

“ On to Sioux City” will be the cry from now until convention time. The hustlers on the Missouri have made up their minds to break all former attendance records, and are planning for a registry of not less than 1,000. Here’s hoping their dream may come true.

After a suspension of over three months the National Bank of Commerce, of Kansas City, resumed business on March 30th, with former Comptroller of the Currency Ridgely as president, and about $12,- 000,000 as deposits—a most excellent combination. New deposits the first day were over $500,000.

There is a lot of difference between a banker and a mere money loaner. The latter never reads papers devoted to finance, never attempts to inform himself, sees nothing, knows nothing but “ one per cent.” The former keeps abreast of the times, or a little ahead, and when a call comes which is to take him from his home town to larger fields, he is ready.

Every progressive banker takes and reads a good class paper devoted to his business, because in no other way can he keep in touch with affairs relating to his own business. In a recent letter from Mr. C. B. Cassell, cashier of the Bridgewater Savings Bank, he


May, 1908 29T H E N O R T H W E S T E R N B A N K E R

The Des Moines National Bankof Des Moines, Iow a

A R T H U R R E Y N O L D S, President FEB, 14, 1908JO H N H. BLA IR , V ice President

A . J. Z W A R T , Cashier Capital - - $300 ,000

The Des Moines National Bank Solicits aSurplus and Profits - 97 ,491 .00 Deposits - - 3 ,571 ,120 .00

Share of Your Business Upon the Basis of Sound and Progressive Banking, Liberal and Accurate Treatment.

UNITED STA TES DEPOSITORY

Correspondence Solicited

says : “ We enjoy the Banker, and feel we would belosing- lots of good things if we did not get it regularly.”

Banking in Iowa is pretty good when bankers can come to Chicago to buy paper every other week. J. H. Ingwersen, of Clinton, is doing it and he says that’s what brings most of them in.— Chicago Banker.

Sure thing! Banking in Iowa is the “ goodest” there is, and our bankers are always glad to help out the Chicago fellows in any way they can. When it comes to banking Iowa leads the procession, as she does in several other things.

A N ew DepartmentWe are glad in this issue to introduce to our read

ers Mr. H. B. Craddick, cashier of the Peoples Savings Bank of Nevada, who is to conduct a department regularly in the columns of the Northwestern Banker, to be entitled “ Advertising the Bank.” Mr. Craddick has had plenty of practical experience, both in conducting the bank and in advertising the bank, and we feel that his articles from month to month cannot fail to prove of much real value to our readers.

What the country banker needs is not a lot of theory about advertising, as applied to his business, but he is looking for some practical suggestions which will apply to conditions as he finds them in his home town.

These conditions are quite similar in all small towns, and Mr. Craddick’s articles will deal with them as they exist.

His offerings from month to month will be along lines which any up-to-date banker may use to promote his business, in any small town, and we think these are the things the majority of our readers are interested in.

Advertising a bank in Chicago, for instance, is quite a different proposition from advertising a bank in Nevada, and arteles written from the Chicago standpoint would hardly apply in the latter case.

Our desire is to make the Northwestern Banker of the highest possible practical value to all our readers,

and to this end we aim to have in our columns matter which they will not only enjoy reading, but which

H . B. C R A D D IC K Cashier Peoples Savings Bank, Nevada

they may find helpful as applied to their own individual business.



IOWA NATIONAL BANKFLEMING BUILDING, DES MOINES, IOWA

STATEMENTFEBRUARY 14, 1908Resources

Loans and D iscou nts................................................................. $5,233,477.39Overdrafts ..................................................................................... 17,921.40U. S. Bonds ................................................................................ 498,854.25Stocks and Bonds ...................................................................... 291,550.97Furnitures and F ix tu res.......................................................... 18,855.03Due irom other banks and U. S. T reas......................... 1,726,231.53Cash on hand .............................................................................. 773,863.16

$8,560,753.73Liabilities

Capital s t o c k ................................................................................ $1,000,000.00Surplus ............................................. 20,000.00Undivided Profits ....................................................................... 41,511.72Circulation ..................................................................................... 219,690.00¡Deposits .......................................................................................... 7,279,552.01

$8,560,753.73

Unsurpassed ServiceHolding ourselves ready as w e do, to meet every legitimate re

quirement of our correspondents at all times, w e solicit your busi

ness confidently believing that w e can give you a service unsur

passed by any banking institution. IJW e have spared no pains in

preparing our par list which we believe covers all points in the

United States which can actually be reached at par. W rite us

for a copy.

M Officers ¿8HOMER A. MILLER, Pres. SIMON CASADY, Vice Pres. H. S. BUTLER, Vice Pres. H. T. BLACKBURN, Cashier.

I O W A N E W S A N D N O T E S

Articles of incorporation of the Farmers Savings Bank at Pierson have been filed. The Capital Stock will be $25,000, and the officers are: J. F. Brooks, president;Joseph Bierman, vice-president; F. F. Nichols, cashier.

* * *

The Iowa State Savings Bank of Cres- ton has purchased a half block of property in that city, and will move to their new location as soon as improvements and remodeling can be made. The business of this prosperous bank has been increasing so rapidly that tne need of larger and better quarters became imperative.

* * *The consolidation of the Stockport Sav

ings Bank and the Farmers Savings Bank of Stockport has been completeu and the new organization is now doing business under the name of the Stockport Savings Bank with a capital of $25,000. The officers in charge are J. H. McCarty, cashier, and Floyd Johnson, assistant cashier.

* *G. H. Carter and associates have incor

porated the Farmers Savings Bank of Pekin with a capital of $11,000.

* * *

has taken charge of the same. He will try and rent the property until he can obtain an order from the court to sell.

* * *

The Merchants National Bank of Burlington has chosen as a reserve agent the First National Bank of Kansas City, Mo.* * * *

The Iowa National Bank of Des Moines lias been approved as reserve agent for the First National Bank of Lake City.

* * *The Drovers Deposit National Bank of

Chicago has been approved as reserveagent for the First National Bank of Newton. * * *

The First National Bank of Strawberry Point has chosen as reserve agents the Hanover National Bank of New York and the Citizens National Bank of Cedar Rapids.

* * *

The Dubuque National Bank of Dubuque has been approved as reserve agent for the First National Bank of Oelwein and the First National Bank of New Hampton. * * *

Messrs. C. ,T. Weiser, J. J. Haug and J. H. Haug have formed a co-partnership and will establish the Citizens Bank of Spill- ville, to open for business about June 1st. The officers will be C. J. Weiser, president; J. H. Haug, vice-president, and Chas. E. Hauser, cashier. Spillville is located in a wealthy Bohemian and German community in Winneshiek county.* * *

The Bankers National Bank of Chicago and the Drovers Deposit National Bank of Chicago have been made reserve agents for the Fort Dodge National Bank.

* * *R. H. Rehder, of the First National

Bank of Dike, Iowa, has been appointedreceiver for the Hotel Dike property and

The National State Bank of Mt. Pleasant has chosen the Bankers National Bank of Chicago as a reserve agent.

* * *

The Cedar Rapids National Bank of Cedar Rapids has been appointed reserve agent for the Louisa County National Bank of Columbus Junction.* * *

The Beaver Valley State Bank of Parkersburg has installed the burglar alarm system of The American Bank Protection Company, of Minneapolis, and recently gave a public demonstration of the workings of the system. A large numberavailed themselves of the opportunity toexamine the new system and were convinced that the burglar who attempted to

enter their vault would have the biggest job on hand he ever tackled.

* * *Mr. J. W. Foster, president of the Citi

zens National Bank of Guthrie Center, has returned from a tour of the Pacific Coast.

* * *The building, fixtures and lots of the

Green Mountain Savings Bank were ordered sold by Judge J. M. Parker, of the district court, to help pay the obligations of the bank, and the building and fixtures were bid in by President A. F. Balch, of the Marshalltown State Bank.

* * *The Dixon Savings Bank has increased

its capital stock from $10,000 to $20,000.* * *

Mr. W. B. Oaks, cashier of the Silver City State Bank recently suffered a stroke of paralysis, and although his condition

* * H=

is serious, his friends hope for his recovery. His place at the bank is being filled by C. D. Greenwood, of Emerson.

* * *Mr. I. H. Sears, president of the Scott

County Savings Bank of Davenport, has returned from Pass Christian, Miss., where he spent a part of the winter.

* * *Simmons &„ Co., of Osceola, are making

extensive improvements in their banking building. The rooms are to be remodeled and re-decorated, and will present a very handsome appearance.* * *

Mr. A. E. Baker, cashier of the Farmers National Bank of Odebolt, came out recently as a candidate before the republican primary for clerk of the district court. He is an intelligent and industrious man, and his friends in that vicinity will work hard to secure his nomination, believing that he will make a model county officer.

* * *The defunct First State Bank of Cor-

with was capitalized at $50,000, and the shortage as near as can be estimated will reach $135,000. Oliver H. Stilson, president, and brother-in-law of the decamped



cashier, and Ernest L. Stilson, were the I principal stockholders, and both are now bankrupt. Standring’s methods of defrauding were by real estate forgeries.

* * *The State Savings Bank of Liscomb will

erect a new building to cost about $3,000.* * *

Mr. Wilfrid P. Jones, of Algona, national bank examiner for northern Iowa, is recovering from an operation performed at Mercy Hospital, Des Moines.

* * *The Farmers Savings Bank of Roland

has installed the latest model of the Burroughs Adding Machine.

* * *Mr. and Mrs. 0. Abeel, of Alcester,

were made happy recently by the arrival of the seventh boy. Mr. Abeel is cashier of the Bank of Alcester and is also postmaster. He should have no trouble holding down the latter job as long as Roosevelt is president. * * *

The Liscomb Bank, of which W. N. Dickerson is president and S. Dickerson cashier, will erect a new $3,000 building this summer.

* * *Receiver Bostwick of the First National

Bank at Chariton has recovered $5,750 from C. R. Kirk, a business partner of Crocker, the cashier who killed himself, for the creditors of the bankrupt institution. He has also entered suit against Mrs. A. L. Mallory and Mrs. J. M. Thayer, who practically owned the bank, for $50,- 000 which he says they received in dividends after the bank was insolvent.

* * *The Bank of Drakeville has installed

new fixtures. With a new home and new furnishings Cashier Caldwell feels that the institution has a right to feel proud.

* * *The First National Bank at Everly just

lately placed their order for a new vault, steel ..xtures and safety deposit boxes.

* * *Mr. Ray Roberts has given up his posi

tion in the Commercial Bank of Britt to accept a more lucrative position in the Farmers National Bank at Osage.

* * *Mr. Carl M. Krebs, who has been assist

ant casnier of the German Savings Bank of Hartley for several years, has resigned his position and sold his stock in that institution. He expects to locate in North or South Dakota. * * *

The building of the First National Bank of Guthrie Center is nearing completion

IF YOU C O N T E M P L A T E S E L L IN G YO UR BANK

Let us sell it for you. We have hundreds of responsible and experienced bankers, and our list is daily increasing, ready with the necessary capital, ready and anxious to buy. All negotiations are conducted in a business-like

and strictly confidential manner.Correspondence and personal interviews

invited. Have you seen the Confidential Banker or felt the “Live Wire” shock?

Charles E. W alters Co.,C O U N C IL BLUFFS, IO W A .

Toldfo r the “Teller”

This is the famous “ Old National Bank System” of taking care of the “ Teller’s Blotter.’

It saves nearly 40 per cent of the time used by the old method, and it is a great work and worry saver.

We have reproduced the f >rms exactly as used—life- size, color of paper and print- ing—in the bank. The book, which accompanies the forms, completely d escrib es the system.

The whole outfit is free to any banker who wil l write onhis letter-head and m ention th is publication.

Burroughs Adding Machine Company Block 7 i Detroit,M ichigan,U.S.A.

IN D E T R O IT —Life is W orth Living

and will be one of the finest in appointments of the many banks in Iowa.

* * *At a recent meeting of the board of

directors of the Farmers & Merchants Savings Bank of Tipton, the resignations of Mr. E. A. Marks, president, and Miss Addie Dean, assistant cashier, were accepted. Mr. D. L. Diehl was elected president in place of Mr. Marks, having secured a controlling interest in the bank. He was formerly connected with the Clarence Savings Bank.* * *

The First National Bank of Perry contemplates erecting a fine new building this season.

* * *The Farmers Savings Bank at Grant

has added a new Burroughs Adding Machine to their excellent equipment.

* * *At a recent meeting of the directors

of the Davenport Savings Bank, it was decided to let the contract for the new fixtures to be installed in the new bank building to the Nauman Company, of Waterloo. The fixtures will cost about $7,000.

* * *W. A. Young, who has been cashier of

1 the Ackley Exchange Bank for the past I twenty-seven years, has severed his con- | nection with that institution.

* * *Articles of incorporation have been filed

for the Farmers Savings Bank of Corwith. The capital stock will be $25,000, and the officers are as follows: E. H. Rich, president; W. G. Oelke, vice-president* and Chas. J. Naumann, cashier.

* * *j The Alburnett Savings Bank has been | organized with a capital of $15,000. Tin

officers are: E. M. Lanning, president;Samuel Maier, vice-president, and Homer Pitner, cashier. * * *

The officers, directors and clerks of the Marshalltown State Bank recently surprised President A. F. Balch very pleasantly, by dropping in to dinner at the invitation of Mrs. Balch to help celebrate the anniversary of his birth.

* * *The First National Bank of Corning

has increased its capital from $50,000 to $ 100, 000.

• * *

Sherman Rath has been made cashier of the Exchange Bank at Ackley and Howard Rath assistant cashier.* * *

Hans Jorgensen and associates have filed articles of incorporation for the Gil-

* * *It is reported that A. F. Balch, of Mar

shalltown, will start a new bank at Green

Weil, Farrell & Co.Established 1894

B A N K E R SSpecializing

Commercial Paper171 L a S a lle S tr e e t

C H IC A G O

79 M ilk S tr e e t M u tu a l L ife B ld g .B O S T O N B U F F A L O

Offerings on Application


3 2 T H E N O R T H W E S T E R N B A N K E R May, 1908

T h e C e d a r R a p id s Na t io n a l B a n kOF CEDAR RAPIDS, IOWA

jjtREer S o lic its th e a c c o u n ts o f a ll go od b a n k s an d b a n k e r s w ith in i t s te r r i t o r y an d w i l l plaGea t th e ir d is p o s a l , fa c i l it ie s g a in e d th ro u g h y e a r s o f e x p e r ie n c e in h a n d lin g t h a t G lasso f b u s in e ss , w ith T E R M S A S L IB E R A L A S S A F E BA N K IN G M ETHODS W A R R A N T

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

R e s e r v e Ag e n t for Nat i ona l B a n k sMountain to take the place of the defunct Green Mountain Savings Bank.

* * *

Work has been resumed on the Her- shey State Bank of Muscatine, and the building will be ready for occupancy in a very short time.

* * *let Grove Savings Bank. The capital stock will be $10,000.

* * *Mr. J. A. Magoun, Jr., formerly cashier,

has been elected president of the Northwestern National Bank of Sioux City, succeeding John Scott, Jr.

* * *The First National Bank of Waterloo

has increased its capital from $150,000 to $200,000, which certainly speaks well for the prosperity of that institution.

* * *The State Bank of Edgewood will erect

a new building this season.* * *

Mr. J. K. Patton has sold his interest in the banking firm of I. L. Patton & Co., at Laurel.

* * *Jas. H. Hill has been made president of

the new bank recently formed at Decatur.❖ * Hi

Mr. J. H. Hickle is president and Geo. A. Stewart, cashier of the new German Farmers Savings Bank at Clarksville. The capital stock is $15,000.

Hi ❖ H¡

The Dubuque National Bank has been approved as reserve agent for the Peoples National Bank of Independence.

* * *The State Savings Bank and the Firstational Bank of Prescott have consoli

dated. They will occupy the building of the First National and made the change as a matter of economy.

* * *Simon Casady & Co., bankers, of Des

Moines, have purchased the Bank of Spring Hill. This gives the company three banks in Warren county, the other two being at Norwalk and Cumming, Charles Ash will be the cashier of the Spring Hill institution.

* * *Mr. Winfield Spencer, of Sloan, has ac

cepted the position of bookkeeper in the Commercial Bank at Hornick.

* * *The First National and Fidelity Sav

ings Banks of Toledo have found it necessary to enlarge their offices, and will occupy another entire building.

* * *The creditors of the Princeton Savings

Bank have received a 50 per cent dividend, and it is expected that another dividend will be declared before the matter is entirely closed.

* * *Mt. Pleasant is to have a new bank to

be known as the Farmers & Merchants Savings & Trust Co. The institution will start with a capital of $50,000, and is backed by some of the most prominent and wealthy men in that vicinity.

* * *Wm. P. Secrist has been elected a direc

tor of the Farmers & Merchants State Bank of Marion to fill the vacancy caused by the death of Earl Granger.

* * *

Mr. D. F. Nicholson, a well known

banker of Lamoni, died recently at his home in that city.

* * *The City National Bank of Mashall-

town is planning extensive improvements to its buildings, and within a few months’ time will occupy by far the most commodious banking quarters in that city.

* * *

C. A. Mast, of Davenport, who was the accountant to examine the books of the defunct Corning State Savings Bank, recently completed a similar task at Seymour, where he was appointed to examine Lie books of the defunct Farmers & Drovers Bank.

* * *Prof. P. P. Sullivan, formerly connected

with the Greenfield schools, has accepted the presidency of the Bridgewater Savings Bank.

* * *Mr. E. W. Rice, president of the Mer-

T he W ay the Aldrich Bill Looked, W hen They All Got Through W ith It.—“D in g ” in R e g is te r a n d L e a d e r



OFFICERS

A. P. DOE, President

J . D. BROCKMANN, Vice-President

J . E. BURMEISTER, V. P. and Cashier

F. B. YETTER,Assistant Cashier.

G apital StOGk - $10 0 ,0 0 0 .0 0 Surp lus - - - 8 0 ,0 0 0 .0 0 Undivided P ro fits - 9 ,153 .01

D eposits - $ 1 ,4 3 0 ,0 1 5 .0 9

We inv ite your business.

chants National Bank of Sioux City, has just returned from a trip to the Pacific coast. * # *

Articles of incorporation have been filed for the Farm ers Savings Bank of Beamon. The capital stock will be $20,- 000, and the officers are: M. V. B. Evans,president; Wm. W. Brooks, vice-president, and Thos. L. Evans, cashier.

* * *The Citizens Savings Bank of West

Brancn are planning to erect a fine new building this summer.

* * *Mr. Joe Otto, assistant cashier of the

Citizens Savings & Trust Company of Iowa City, has resigned his position to take up the practice of law.

* * *

Mr. W. B. Matthews has been elected vice-president of the new bank at Wyman.

* # *The depositors of the defunct F irst Na

tional Bank of Chariton by their attorneys, Stuart, Stuart & Stuart, filed a petition in district court recently asking for a decree reversing the action of Receiver Bostwick in allowing the M. W. A. claim of $400,000. The petition alleges that the claim is invalid and illegal on the ground that it was not a bona fide deposit; that there was no record of such deposit and that such deposit was unknown to anyone connected with the bank but Cashier

Crocker, and that Crocker, McNider and other officers of the M. W. A. conspired together to obtain possession of the society’s funds for personal use. Receiver Jam ison is endeavoring to have Federal Judge Smith McPherson come to Chariton in June to try the preferred claim case. It is thought that a settlement between the bank and the Mallorys will be brought about before the time of the trial of the cases against them which would be in August. * * *

The interior of the F irst National Bank of LeMars is undergoing a process of spring cleaning and remodeling, which will make it look like a new bank.

* * *It is the intention of the officials of

the Humeston State Bank which was recently destroyed by fire to rebuild immediately, put in new furniture and fixtures and otherwise improve.

* * *The officers and directors of the new

Decatur State Savings Bank are as follows: Directors, Wm. Lloyd, C. W. Hoffman, Cull Euritt, S. H. Covington, J . H. Hill, Mike Springer, H. C. Watson and Frank Euritt. Officers: J . H. Hill, president; Frank Euritt, vice-president, and J . C. Cozad, cashier.

* * *Messrs. O. M. Grove, cashier, and O. S.

Boyd, assistant cashier of the Farm ers

Savings Bank of Roland, have returned from a business trip to Chicago.

❖ * *The interior of the Worth County Sav

ings Bank at Northwood is being redecorated, the fresco work and free hand painting being done by Koever & Son, of Ft. Wayne, Ind., famous for their artistic work. When completed the rooms will present a very handsome appearance.

❖ * ❖Mr. Ed. M cFarlane has resigned his

position in the Commercial National Bank of Waterloo and gone to Denver, Colo., where he expects to go into business.

* * *Mr. E. D. Rayburn, cashier of the F irst

National Bank of Montezuma, has been quite ill with typhoid fever.

* * *Mr. Charles McKeen Duren, president

of the Hardin County State Bank of El- dora, is a candidate for the office of representative from Hardin county. He is a trustee of Cornell College and a man of unquestioned integrity. He is brought out by the stand pat element of his county and the Northwestern Banker wishes him success. * * *

Mr. Ross Walker, of New London, has accepted the position of cashier of the New Farm ers & Merchants Bank at Mt. Pleasant. Mr. W alker is a young man of ability and experience, having been con-

CAPITAL, $100,000 SURPLUS AND PROFITS, $124,515

Established 1870

Merchants National BankOF B U R L IN G T O N , IO W A

J L. EDW ARDS. PresidentW. E- BRAKE, Vice-President

Ja MES MOIR. Vice-PresidentALEX. MOIR, V ice-President

H. J. HUNGEREORD, CashierF. I,. HOUKE. A ssistant Cashier

C. E FULTON A ssistant Cashier

Y O U R A C C O U N T IN V IT E D

Exclusive lines of

Crain, Milling, Lumber and Jobbing Paper of

M in neapo lis and St. PaulEspecially suitable for Northwestern Banks.

Offerings on application.

EUGENE M. STEVENS & CO.Com m ercial Paper and Investm ent Bonds

Northwestern National Bank Bldg. State Savings Bank B ldg.M IN N E A P O LIS ST. PAUL



IOWA ST A T E NATIONAL BANKS I O U X C I T Y , IOWA

Officers:

GEO. W E A R E , President

H. A . J A N D T , V ice President

Capital, _ _ - $ 200,000.00Surplus, - - 100,570.33Deposits, - - 2,465,140.00

Officers:

JO H N M cH UG H , V. President

H. A . G O O CH , Cashier

*8 This bank has u n ex c e lle d facilities for the prom pt and carefu l handling o f all business entrusted to it.

nected with the F irst National Bank of New London for the past six years. The offer of cashier for the new bank went to him entirely unsolicited, which speaks well for his popularity as a banker.

* * *Mr. F. W. Haynes has been elected

cashier of the Bank of Rudd for another year.

* * *Mr. E. B. Applegate succeeds E. Lyell

Stilson as cashier of the Farm ers Savings Bank at Corwith.

* * *An effort is being made to sell the

stock and incorporate the bank of Owasa as the Farm ers Savings Bank of Owasa. The farmers and business men of the town and vicinity are very much interested in the project, a large per cent of the shares already being sold. They will incorporate with a capital of $ 1 0 ,0 0 0 .

* * *Mr. O. W. Allen, former cashier of the

Stockport Savings Bank, is now located at Park City, Utah, where he has a position as assistant cashier of the F irst National Bank of that city.

Bank M erger at W ashington, Iow a

The Citizens National and Citizens Savings of Washington have effected a consolidation, and the Journal in its last issue gives the following information relative to the important deal:

“ The Citizens Savings Bank, organized

in 1892, with a capital of $25,000, was originally intended as an auxiliary to the national bank for the purpose of encouraging the saving habit, especially among the younger people and wage-earners of the community, and for handling mortgage loans which are prohibited by law to national banks. The growth of the bank, however, since that time has so far exceeded the expectations of its founders that its operation m erely as an adjunct of the parent institution has been for some time out of the question, the enlargement and remodeling of its quarters six years ago being necessary on account of the increased volume of its business. It has also been necessary twice to increase its capital which, on completion of the proposed consoliuation, will be still further increased to $ 1 0 0 ,0 0 0 , which will provide for taking over the commercial business and will give the institution financial strength and stability equaled by few banks in this part of the state.

“ rln e management of the national bank in deciding to surrender its charter was influenced by the greater adaptability of the state banking laws to local conditions, the national system being especially adapted to conditions obtaining in the large cities and manufacturing districts of the east and the tendency of all new legislation being strongly in that direction. This tendency has been very clearly shown in the events of the last year. Many leading Iowa bankers share these views—the largest bank in the state being a savings bank which recently took ever the commereial business of its affil

iated national bank in precisely the manner here proposed.

“ The citizens Savings Bank, as enlarged, will have deposits of three-quarters of a million and total assets of almost one million dollars. The officers who are at present conducting the business will continue in charge, their official positions being: Chas. H. Keck, president; Frank Stewart, Carl M. Keck andI. M. Sproul, vice-presidents; Frank R. Sage, cashier. These gentlemen desire to express to the public their cordial appreciation of the generous patronage and continued confidence accorded the banks in the past and bespeak for the greater Citizens Savings Bank a continuance of the same good will which they promise by all proper means to reciprocate.”

Indisputable Facts

From November 1, 1907, until April 1, 1908, four banks using the Victor Screw Door Safes were attacked by burglars. Tliese banks were:

Florence Deposit Bank, Florence, Ky.Scandia State Bank, Scandia, Minn.Bank of Buckner, Buckner, Mo.Canby Bank & Trust Co., Canby, Ore.B y writing these banks you will find

that in each and every case their safes preserved their contents perfectly and the bank did not lose one cent, except in damages to their vault and building.

Compare this record with the record of banks using other makes of safes and you will find Their loss by burglary to have been, within the same period, $ 1 2 2 ,-

------------- T H E -------------

First National BankO F SIO U X C IT Y , IOW A

Capital, $300 ,000.00 Surplus and Profits, 91 ,037.88 Deposits, $3,010 ,166.51

Accounts of banks received on liberal terms. A large lis t of par points in Iowa, M innesota, Dakota and Nebraska. Collections carefu lly and prom ptly made.

JAMES F. TOY, President. GEORGE C. CALL, V ice-Pres.ACKLEY HUBBARD, V ice-Pres. J. FRED TOY CashierI. C. BRUBAOHER, A ss’t Cash. F. W. KAMMAN, A ss’t Cashier

H. C. BOSTWICK, President.E. A. CUDAHY, V ice-Pres. TRUMAN BUCK, V ice-Pres.

J. C. FRENCH,

H. C. MILLER, A ss’t Cash. JOHN S. KING, A ss’t Cash. JAS. B. OWEN, A ss’t Cash. Cashier.

The South Omaha National BankSouth Omaha, Nebraska

Capital, $250,000 Surplus, $250,000 Prolits, $100,000

Send us your Stock Yards and Packing H ouse items. W e make a study of the efficient handling of accounts of banks transacting business at the South Omaha stock yards. Correspondence in vited.



Davenport Savings BankD A V E N P O R T , IOWA

Officers

W ILLIAM O. SC H M IDT, President LOUIS H A LLER , V ice President H E N R Y C. ST R U C K , Cashier O T T O L. L A D E N B E R G E R , T eller

Capital $ 300,000.00Undivided Profits - 270,009.99Deposits 3,843,385.30

4 Per C ent Interest Paid on D e

posits: M oney Loaned on Real

Estate Security in the State o f Iow a.

:: :: D I R E C T O R S :: ::A . B u rd ic k L o u is H a lle r A . S te f fe n W . O . S c h m id t T h e o . K a rb b e n h o e f t J . F . D o w H K o h r s W . H . W ils o n H . C . S tr u c k

40O.00. There are a number of others of which we have no record. As above stated, this record is indisputable. Not one cent secured from Victor Safes by- burglars while thousands upon thousands of dollars were secured from other makes. The result is that the works of the Victor Safe & Lock Co., Cincinnati, Ohio, are taxed to their utmost capacity to supply the demand for their Victor Spherical Manganese Steel Screw Door Bank Safes as bankers are rapidly learning that they afford the protection that they should have, also reduce their insurance and help to advertise their business. Write the company at Cincinnati for a description of their safe, as they will be pleased to send same.

R en ew al o f Charter by Peoples B an k of W est L iberty , Iow a

Regarding the recent renewal of the charter of this old and substantial financial institution, the Index says:

“ This bank is the oldest business institution in the town. It was incorporated April 10, 1868, as the ‘Peoples Bank.’ It began business in what is now the post- office block, in the room occupied by A ttorney C. E. Nichols, where it prosecuted its business until 1873, when the present site was purchased and building erected for its use. It charter was renewed April 1 0 , 1888, for a period of twenty years and the word ‘state’ added to its corporate name in conformity with the new law. Another lease of life has been taken for

twenty years more, and in all probability this venerable institution will go on forever.

“ Its first president was Henry H arrison, succeeded by Elisha Schooley, J . L. Brooke, Jonathan Cowgill, Brooke again, Cowgill again, Ira Nichols, John Lewis, Thos. Birkett and A. H. McClun, who holds the chair at the present time, having served for the past four years. Mr. Birkett served nine years; John Lewis, six; Ira Nichols about a year, dying in office; J . Cowgill, seven years in all;J . L. Brooke, six years; E lisha Schooley, five years, and Mr. Harrison, one.

“ Its first cashier was Henry Sedgwick, who held office five years; A. A. Ball succeeded him, holding the place for ten years; J . L. Brooke was next with seven years of service. Howell Hise, who became bookkeeper in 1883, succeeded Mr. Brooke, serving in that capacity for sixteen years. He was succeeded by W. S. Luse, the present cashier, who entered upon the duties four years ago. All these men excepting Messrs. Ball, Hise, Birkett and the present officers have passed to the great beyond, but the institution which they founded and carefully nurtured survives. In addition, the death roll includes the names of Geo. Wooley and E. Harrison, who served as vice- presidents.

“ A gratifying feature of the reorganization is that practically every dollar of the bank’s stock is now held in and about Yvest Liberty. It is choice property to own, better than government bonds.”

| Luvern e Iow a B anker Issues a Unique Statem ent

G. W. Hanna, who operates a bank at Luverne, with assets of $400,000 or more, says some things in his recent

| statement which are so original and interesting that we give them place here:

“After the ball is over.” “ After the break of day,” after the country gets sober is a good time to take an account of stock. About now the state and

j national banks are exhibiting what they have left after the flurry and it may not be against the credit of the old standpat bank of Luverne to do the same. We have had a little taste of progressive politics and progressive banking. The Bank of Luverne has no use for either. We don’t like pan-

' ics. They are hard on the poor cuss ; that has to run a bank or the poor | cuss who raises hogs for a living.! Panics make people grow old. We are at this date pleased to say to our cus-

1 tomers that we are thankful that we are still on paying grounds and interceding terms and that we have not

| been compelled to run any blaizers on

German Savings BankBelieving that our large Capital and

Davenport, Iowa. Surplus oilers a strong reserve lorCapital - $600,000 Surplus and

our depositors we invite the accountsUndivided Profits Over - 674,000 Deposits - 9,560,368.58

ol Iowa Banks and Bankers.

OFFICERSCHAS. N. VOSS. Pres. DAVID H. McKEE, Vice-Pres. AUG. A. BALLUFF, Second Vice-Pros JENS LORENZEN, Vice-Pres. ED. KAUFMANN, Cashier. F. C. KR0EGER, Ass't Cashier

Commercial Accounts. Farm Mortgage Loans.

Liberal treatment and prompt service

Savings Deposits. Collections



Iowa Life Insurance Co.P. O. Box 416

Waterloo, IowaC A PIT A L , PA ID U P S U R P L U S -

O F F IC E R S

$100,00025,000

F. F. M cElhinney, President; C. W . Mullan, V ice-President; F. A . Ferguson, Secy , and G en. Mgr.; E. D. C lithero, Superintendent A gents; F. W . P ow ers, M. M., M edical D irector.

D IR E C T O R SC. W. Mullan, W . R. «m eson, F. W. Powers, C. L. K ingsley,

G. B. M cW illiams, J. D. Easton, Geo. S. Mornin, F . F. McEl- hiinney, A. N. Odenheimer, C. A. W ise.

C O U N S E LCourt right & ArbuckleMullan & P ickett

Offices: Third Floor of Syndicate Building

Black Hawk National

m *>. BankWATERLOO, IOWA

Capital and Surplus $2 0 0 ,0 0 0 .0 0

United States Depository

O FFIC ER SF . F. M cElhinney, Pres. Richard Holmes, Vice-Pres.F. W. Powers, Vice-Pres. Charles W. Knoop, CashierL • D. Bedford, Asst. Cashier Lila Marcham, Teller

Write us for our liberal terms for new accounts.We can handle your account at a PRO FIT TO YOU.

3 per cent. Interest paid an Bank Balances.

our depositors and that during the disturbance we did business in the same old standpat way that we have been doing it for the last twenty-three years. We hope we can always do business along this line. The assets of the Bank of Luverne are good. A large part of them are in sight. This bank owns 5,628 acres of land in sight of this town, 2,347 acres are mortgaged, 3,281 acres are free and clear of incumbrance (so is all the other property). We have 901 steers and a lot of other live stock at the ranches.

We have a good showing of cash on hand, considering crops and panic, and taking everything into consideration, we do not feel like growling very much. Our customers have been good to us. Our deposits have grown, and we are led to believe that the people of this community consider us a safe proposition at the least. In submitting the above statement to our customers at the opening of the spring season of 1908, it may not be out of place to state that there are three things which we greatly desire: First, that Cumminsism may be driven from the land. Second, that this may be a season of sunshine, good corn and high priced hogs. Third, that old Joe Cannon of Illinois may be the next president of the United States, for all of which we most humbly pray. Yours respectfully,

Geo. W. Hanna, Proprietor.

M innesota Bankers A ssociation to H ave R egular Salaried Secretary

The interests of the association have become so important, that it has been deemed best to secure the services of

a competent man, pay him a good salary, and have him devote his entire time to the work. Regarding this very wise move on the part of the association, the Commercial West says :

“ Beginning April 1, Mr. Charles R. Frost, of Minneapolis, will associate himself with the Minnesota Bankers’ Association in the capacity of assistant secretary. He will occupy this position until the convention of the association in July, when he will be elected to the secretaryship of the association, and at which time the office will be placed on a regular salary basis. Mr. Frost will devote his entire time to the duties of his position as a regular salaried officials of the association.

The establishment of the secretary’s office on a regular salaried basis will greatly increase the efficiency of that office, broaden the scope of the association’s work and increase the value of the association to its members. It is directly in line with the recommendations of Secretary Ernest C. Brown, made at the last convention. The growth of the association and the ac-

FRED W. DEANHighest Grade

CO M M ERCIAL P A P E R

M in n e a p o l is , M in n .Security Bank Building

C o rre sp o n d e n ce Invited

companying increase in the work of the secretary have made it a practical impossibility for anyone not devoting his entire time to the task to carry it on satisfactorily. Under the new arrangement it will be possible not only for the secretary to keep the routine work of the office well in hand, but to devote special attention to such branches of the association’s work as that of the protective committee, and such other special lines such as burglary insurance as the association may take up.”

H aving a Hard T im e

News comes from Minneapolis that the bank officers and clerks of that progressive city are in trouble. They are wrestling with a problem, trying to do an “ example” just as they did on the front seat years ago. We can imagine A. A. Crane and S. S. Cook, of the National Bank of Commerce; Joseph Chapman, Jr., and L. E. Holton, of the Northwestern National; and George F. Orde and E. C. Brown, of the First National, working out the following puzzle—and in case they needed help, they could farther and fare worse than by calling in George H. Prince and H. Van Vleck, of the Merchants National, of St. Pau l: “ Two railroad stations, A and B, are five miles apart. A train one mile long starts from ‘A.’ When the caboose pulls past the station the brake- man gets aboard. He walks ahead on the train until he reaches the engine, and when the engine passes station ‘B ’ he gets ofif. How far does the brake- man ride, how far does he walk, and how for does he travel?”—Pacific Banker.



The Cedar Rapids National Celebrates its Tw en

ty-First Anniversary.Regarding the occupancy of its new building the Rec

ord says:“ On Monday, April 13th, its twenty-first anniversary,

the Cedar Rapids National Bank moved into its new and magnificently equipped room at Second avenue and Third street. Showing the relative position of this bank with other financial institutions as to housing, it may be stated as a fact beyond question, that the rooms of the Cedar Rapids National are the finest banking rooms in Iowa, and that no better, more elaborate or more artistically finished banking room is to be found in Chicago, the financial center of the great West. Tn all that is good, Iowa affords the best’—and Cedar Rapids has it. If you are interested in banks and banking the officers and directors of the Cedar Rapids National would be pleased to have you call and inspect the best, most elaborate and most convenient equipment in the West.

The building itself was designed by Henry Ives Cobb, of Chicago, and is one of the most substantial structures, the foundation and walls being designed to carry ten stories. The banking room is 60x80 feet, subdivided for the convenience of the various departments.Two ornamental entrances, one on Second avenue and the other on Third street, open into the spacious lobby that in the plan is the axis of its surroundings. Some idea of the facilities of the bank for transacting business may be gained from the information that there is one hundred fifty lineal feet of public counter upon which twelve windows open through the grill work. Besides, there are two magnificent double lobby desks of San Domingo mahogany, this wood being used throughout in the furniture and finishing.

“ An arrangement that will be appreciated by the many women patrons of the bank is a woman’s room with a woman teller who will have the business of these patrons of the bank under her immediate supervision.

“ The visitor is impressed with the wide and perfectly ventilated spaces in which all the employes of the bank work. Comfort has been given the closest consideration —comfort for employes and patrons.

“ The plans for the improvement were made by D. H. Burnham & Co., architects, Chicago. This firm were the

architects for the Commercial National Bank, Chicago; First National Bank, Chicago; Union Station, Washington, D. C .; Wanamaker buildings of Philadelphia and New York; Frick building of Pittsburg, and many other of the finer buildings in large cities. They have had charge of no contract involving the same amount of outlay in which they take greater satisfaction.

“ As mentioned in the first lines of this article, the Cedar Rapids National Bank, as such, was twenty-one years old on the day of its removal from First avenue and Second street to its new home. Prior to the organization of this bank G. F. Van Vechten had conducted a private bank which was merged into the new institution, that began business April 13, 1887. The first charter expired in April, 1907, and was renewed for twenty years.

Of the first list of officers and directors five are still actively identified with the bank. These are A. T. Averill, G. F. Van Vechten, George B. Douglas, J. M. Ris- tine and Ralph Van Vechten. Of the present list of officers all have been connected with the Cedar Rapids National for terms varying from twelve years to the entire time the bank has been in existence.”

The Northwestern Banker extends most h e a r t y congratulations to this old and substantial C e d a r Rapids Bank and trusts that there may be many years of urn diminished prosperity in store for it. With

its splendid new building and up-to-date equipment and able, courteous and efficient officers, there is no reason why it should not take front rank among the financial institutions of the state.

Des Moines Chapter Elects Officers.The Des Moines Chapter has elected officers for the

ensuing year as follows : President, Verne Barlow ; vice- president, George Simpson ; secretary, Harry Stevenson ; treasurer, Fred Knight. The delegates to the national meeting are Harry Stevenson and B. B. Vorse. The alternates are George Simpson and James Hart. The new corps of officers is hustling and alert and the local Chapter is bound to prosper this coming year under their leadership.

Interior Cedar Rapids National.


38 April, 1908T H E N O R T H W E S T E R N B A N K E R

Correspondence invited with a view io business relations with the banks ot Western Iowa Nebraska, Colorado, Wyoming, South Dakota and the Northwest : :

Capital and Surplus

$1,000,000.00Reserve Depository lor

National Banks

I N E B R A S K A N E W S A N D N O T E S

Mr. F. J . Staley, of Pierce, has bought the interests of John R. Pierson in the Citizens National Bank of Tecumseh.

* * *The F irst National Bank of Platts-

mouth is planning to erect a fine new building this season.

* * *The Commercial National Bank of Chi

cago and the Merchants National Bank of Omaha have been approved as reserve agents for the F irst National Bank of Pender.

* * *The Aurora National Bank has chosen

as a reserve agent the National Bank of Commerce, Kansas City, Mo.

* * *The Hanover National Bank of New

York has been appointed reserve agent for the F irst National Bank of Amherst.

* * *

The Chemical National Bank of New York has been appointed as reserve agent for the F irst National Bank of Genoa.

* * *The F irst National Bank of Lincoln has

chosen as reserve agent the Merchants- Laclede National Bank of St. Louis, Mo.

* * *Wallace & Co., bankers at Exeter, a r e

planning to remodel their bank building, larger quarters having become a necessity. * * *

The Brayton State Bank has been organized. The officers are J . R. Hanna, president; P. J . Kerrigan, vice-president, and George A. Brannan, cashier.

* * *Mr. M. Riley, cashier of the State Bank

of Dawson, died recently at his home in that city. He was one of the well known bankers of that vicinity.

* * *

Mr. E. G. Titus has sold his interest in the F irst National Bank of Holdrege, and resigned his position as cashier.

• • •

Fremont, April 22d. An interesting program Avas presented, and a good time enjoyed by all. * * *

The new building of the State Bank of Boelus is nearing completion, and when finished will be one of the most commodious and up-to-date banking homes in the state. * * *

The Farm ers State Bank of Pickrell has increased its capital stock from $5,000 to $ 1 0 ,0 0 0 . * * *

The Landmans Bank of Wolbach has been organized with a capital stock of $25,000. The officers are: C. Bradley,president; M. Mathieson, vice-president, and E. A. Miner, cashier.

* * *The firm of Wallace & Co., bankers, has

been authorized to do business at Exeter by the stated banking board. Capital, $50,000. The officers in charge will be William H. Wallace, president, and W illiam P. Wallace, cashier.

* * *The Maskell State Bank has been or

ganized at Maskell with a capital stock of $25,000. Fred Whittmore and associates are the incorporators.

Hs *The Farm ers State Bank of Wolbach

has been incorporated by C. C. Hansonand others. * * *

Mr. S. A. Peterson, president of the Grand Island Banking Company, died recently at his home in that city.* * *

The State Bank of Elm Creek is to have a new home. Work has been commenced on a fine brick building which will he up-to-date in every detail.

* * *The Chase National Bank of New York

has been approved as a reserve agent for the F irst National Bank of Ansley.

The State Bank of W ayne is remodeling its banking building.

* * *The Hinds State Bank of Odell Is now

just installed a new up-to-date burglar proof safe.

* * *The Nebraska Bankers’ Association has

issued a warning to all banks to beware of a man signing himself A. J . Heather, who has been drawing fraudulent drafts and collecting on them throughout the state.

* * *The interior of the Norfolk National

Bank has been remodeled and redecorated, and now presents a very artistic appearance.

* * *L. E. Southwick, of the F irst National

Bank of Friend, has purchased the stock owned by P. H. Updike in the state bank at that place and is now one of the principal owners of the bank.

* • *The deposits of the Bank of Commerce

of Hastings have increased in three weeks from $250,677 to $275,737.

* * *At a recent meeting of the directors,

the capital -stock of the State Bank of Gilead was increased from $6,000 to $10,- 000. Frank Nelson was re-elected cashier of the bank.

* * *Mr. L. R. Coufal has resigned as cash

ier of the F irst National Bank of Trenton, and is succeeded by J . R. Greenhalgh.

* * *The Bank of Nemaha recently received

two checks from Japan, one of which was a long time on the way. L ast April a check for $2.50 was sent to Wm. J . B ishop, a m issionary of Japan, and January 1s t of this year another check for $2.75 was sent to the same man. Both checks came back on the same day, although one was sent almost eight months after the other, and had been cashed by the “ One Hundredth Bank of Specie” of Japan, apparently without question.

* * *Mr. P. H. Updike has sold his interest

in the Harvard State Bank to Theodore Greiss, cashier of the bank, and G. H. Thomas, of McCook.

H* * *The F irst National Bank of Dodge has

chosen the United tSates National Bank of Omaha as a reserve agent.Group Three of the Nebraska Bankers’

Association held its annual meeting atfu lly protected against burglary, having



The M ERCH AN TS N A T IO N A L BANKo f O M A H A , N E B R A S K A

2775

Luther Drake, President Frank T . Ham ilton, V ice Pres.F. P. H am ilton, Cashier B. H. M eile, A ssistant Cashier

A C C O U N T S SO LIC ITED. U. S. D E PO SIT O R Y

Capital - $500,000Surplus - $250,000Undivided Profits - $ 47,732Deposits $6,119,983

The annual meeting of group six of the Nebraska Bankers’ Association will be held at Chadron on the 29th of May. An attractive feature in connection with this meeting is that the association will on Saturday and Sunday, the two days following the meeting, recreate at Hot Springs, South Dakota.

* * *

At the annual meeting of the directors of the Wymore State Bank the old officers were re-elected. They are : C. G. Anderson, president; J. A. Reul- ing, vice-president; J. S. Jones, cashier. Three thousand dollars were car- j ried to the surplus fund, making the sum in that fund $10,000.

* * *The bank of Panama in its recent

statement to the state banking board, showed : Loans, $74,772 ; cash, $24,-106; deposits, $89,167.

* * *The Franklin State Bank in its last

statement, had its capital of $15,000 re-inforced with $9,000 of surplus and profits. Its deposits were $122,105, and its cash reserve $45,607.

The State Bank of Alma in its last | report had: Loans, $ 110 ,0 2 1; cash, j

¡$53>093; deposits, $137,591. The bank carries surplus and profits of $13,825.

F. N. Austin has sold his interest in the Commercial Bank of Long Pine to Charles P. Nelson, of Benson, Neb. Mr. Nelson becomes an active man in

❖ ❖ ❖the management of the bank.

Harrisburg, the county seat of Banner county, is to have a new bank. It will be called the State Bank of Har-

j risburg, and Harvey Sams, of Scotts : Bluffs will be the cashier.

T h e R ight Kind of Proof

The Nebraska Bankers’ Association has been called upon to decide whether a confirmed criminal can be reformed in five years. C. D. Romero, a very clever forger, defrauded the Bridgeport Bank of that state. The matter was taken up by the state bankers’ association and the penman was pursued through nearly every state in the Union, being finally located at Buffalo, brought back, convicted and sentenced to the penitentiary for ten years. That was five years ago.

It seems that Nebraska has a law that when a pardon is sought of the

1 governor, notice of the application must be published for three weeks in the county in which the prisoner was convicted. The Bridgeport Bank recently noticed in one of the home papers that C. D. Romero, bank forger, had made application for a pardon. It is presumed that the bank took more than a passing interest in the matter, for it notified the Nebraska Bankers’ Association of the application. And at last accounts the action which the association would take was not known. A reporter who saw the application says:

“ The reasons are nine, but all reserve themselves down to the idea that the trial judge was prejudiced against the prisoner, didn’t give him a fair trial, and gave him a long-term sentence to reform him, instead of punishing him, anyhow, and that now he is reformed.”

We hardly think that any of the allegations, except the last, will have much weight with the bankers’ association. It will be hard for them to concur in any belief which will be a direct slap at the state judiciary, by agreeing that one of their judges convicted an innocent man and sent him

T H E O M A H A N A T IO N A L B A N KOF OMAHA, NEBRASKA

$6,106,415.901,121.40

915 .000 . 00 633,389.21

2 0 0 . 0 0 0 . 00

STATEMENT, FEB. 14,Deposits . . . . 190,000.00

Due from Approved R eserve Agents 1,614,379.79

Due from OtherBanks ........... 1 ,336,896.15

Cash on H and. 1 ,299,109.55 Due from U. S.

Treasurer . . 30,000.00

1908RESOURCES.

Loans and D iscou n ts.............Overdrafts ..................................U. S. Bonds for CirculationStocks and Bonds ..................Banking H ouse and Safety

posit V aults .........................U. S. Bonds for

D eposits . . . . .$ 4 3 4 ,0 0 0 .0 0 ______________Other Bonds for $12,760,312.00

J . H. MILLARD, President C. F. McGREW, V. President WM. WALLACE, V. President W. H. BUCH0LZ, CashierWELL ORGANIZED COLLECTION DEPARTMENT. ITEMS ON OMAHA AND ALL NEBRASKA POINTS SOLICITED.

4,904,385.49

LIABILITIES.Capital ..............................................Surplus Fund ...............................Undivided P r o f i t s .........................Circulation ......................................Bonds Borrowed ...........................Deposits ............................................

$ 1,000,000.002 0 0 ,0 0 0 .0 0231,658.44856,000.00

75,000.0010,397,653.56

$12,760,312.00

FRANK BOYD, Ass't Cashie



FIR ST NATIONAL BANKOMAHA, NEB.

Capital-Surplus-Undivided Profits $ 1,000,000

T he First Bank in Nebraska T he First National Bank in Nebraska T he First Bank in Nebraska to Exceed $1 1,000,000 Deposits

C. T . Kountze, Pres. F. H . Davis, V ice-Pres. L., L. Kountze, Cashier D E P O S IT S

Depository of the U . S., State of Nebraska, County of Douglas, City’of Omaha K O U N T Z E BROS. FO R E IG N C IR C U L A R L E T T E R O F C R E D IT Liberal in Policy, Conservative in Management. W e make a

Specialty of accounts of Banks and Bankers. Exceptional Facilities for making Collections throughout the W est

If it is

BANKbusiness, in or about the

UNION STOCK YARDS, South Omaha, Nebraska,pertaining to the live stock or meat trade, for quick action and proper treatment, send it direct to

The Union Stock Yards National Bank.

Established 1885 Capital, $300,000.00 Nationalized 1891 Surplus, 60,000.00

F. H. DAVIS, President F. R. H ED R IC K , CashierE. F. FO LDA, Vice-Pres. N. F. R E C K A R D , Ass’ t Cash.

for a long term to the penitentiary, through sheer prejudice.

On the last ground, however, there is some reason for hope. A man “ may” be reformed in five years. The most hardened sinner could get back into the fold in that time. But the question is, how will Mr. Romero prove that he is reformed? Granted that he may be able to show that for the last five years he has forged neither note, bill or check. Under the circumstances will that be sufficient?

Program for M eeting of Group 4 N ebraska B ankers’ A ssociation,

Hastings, M ay 6 , 1908

FORENOON SESSIO N —10:30 A. M.Invocation—Rev. B. S. Hudson, Pastor

Baptist Church, Hastings.Address of Welcome—Hon. C. J . Miles,

Mayor of Hastings.Response—F. A. Dean, of the City Na

tional Bank, Holdrege.Time Certificates of Deposit— (a) Did

the Time Deposit account prove to be of especial value or not during the recent period of deposit withdrawals? (b) Does a bank in justice to its other depositors and to all concerned, have the right to waive the time on interest bearing time certificates? (c) Should Time Certificates he paid before m aturity?—M. B. Holland, Chas. K. Hart, W. G. Springer,

J . L. Campbell, Samuel Patterson, M. Weil and others—three-minute talks.

Advertising E vils—Novelties, Calendars, etc. What advertising methods are found profitable and satisfactory? What methods are found undignified and undesirable—E. S. Kirtland, C. G. Lane, F. C. Pielstacker, F. A. Vorhees.

Postal Savings Banks— (a) What is the prospect of a postal savings bank law being enacted? (b) Would a postal savings bank law help develop Nebraska or be disastrous to such development? (c) What are the arguments for and against such a law, so far as the W est is concerned? (d) Is there any way in which the interests of the bank and the community of any given locality are not identical, in this postal savings hank matter? If so in what w ay? (e) What part if any should the bankers of our Group or state be taking in the» postal savings bank discussion and legislature?—J. B. Dinsmore, W. S. Marr, T. M. Davis, E . R. Gurney, C. F. Bentley, H. W. Yates and others—five-minute talks.

1 :3 0 TO 2:00 P. M.Visit to Hastings hanks. The visiting-

bankers will want to pay their respects to the Hastings bankers, and this half hour has been set aside for that purpose. Let us go in a body, starting from the Bostwick.

AFTERNOON SESSIO N —2:00 P. M.

Commercial Paper— (a) Experiencewith it during the recent stringency period. (b) Is there any reason why commercial paper may be less safe during

the coming year or two than in the past two years? (c) What class of commercial paper is best for Nebraska bankers to buy? (d) What commercial paper would you let alone?— C. C. Vennum, N. C. Rogers, E . McBride, W alter Divan, W. O. Southwick, E. F. Polda and others— three-minute talks.

Some Lessons Taught by the 1907 Panic—J. N. Clarke, president of the Clark-Buchanan Company, Hastings.

Address—Mr. Clement Chase, Omaha.Needed Legislation on Banking and

Currency—Legislation that would be commensurate with the present business of the country—Captain C. E. Adams, president F irst National Bank, Superior.

Guarantee of Deposits Law—Arguments For—A. C. Shellenberger, president Bank of Alma.

Guarantee of Deposits Law—Arguments Against—J. P. A. Black, president German National Bank, Hastings.

Note—After the above two addresses the subject will be open for general discussion—in three-minute talks.

Report of Committee on Constitution.Election of Officers.Report of Committee on Resolutions.

The Citizens Bank of Smartville is one of the new banks in the smaller towns of the state. This bank has a capital of $25,000, with D. M. Boats- man as president and C. Schurman, cashier.


May, 1908 T H E N O R T H W E S T E R N B A N K E R Ai

Packers National BankOF SOUTH OMAHA, NEB.

C A P IT A L , $150,000 SURPLUS, $100,000U N D . PR O FITS, $52,830.00 D E PO SIT S, $2,189,820.00

OFFICERS:JOHN F. CO AD, President. A. W. TRUMBLE, V ice-Pres.F. J. MORIARTY, Cashier. OHAS. A. DUNHAM, A ss’t Cashier.

J. F. COAD, JR., A ss’t Cashier.

W e invite the L ive Stock Banking business o i Iowa and Nebraska Bankers.

First National BankDU BU Q U E, IO W A

C apital, - - $200,000 Surplus and Profits, $94,831.36

D eposits, $1,584,405 -■ ■■ ■■■....... —

OFFICERSC. H. RIGHMRY

PresidentE. A. ENGLER.

Vice-PresidentB. E. b l o c k l i n g e r ,

Cashier

D IR E C T O R SC. H. E ighm ey E. A. Engler Geo. A. Burden J. T. Adams C. M. Peaslee Jas. C.Collier B. E. B locklinger Peter K iene

Tw enty Years for the SecretarySecretary Dinwiddie has served the state association

now for twenty years, and his faithfulness and efficiency are evidenced by his long term of office.

He has always kept the interests of the Association close at heart and has never considered any service too severe, provided he could feel that in its performance the I. B. A. could be set forward another notch.

That he has rendered the sort of service that wins is evidenced by the condition of affairs that obtains in Association matters today, a condition which is a source of deepest pride to every member in the state.

Here’s hoping he may round out another twenty years.

The ConventionSioux City plans a royal time for the delegates to the

convention this year, and hopes to see not less than 800 in attendance. In short, the city on the Missouri is bent upon showing a larger registry list than any convention which has yet been held. We hope every bank in the state will do its share to help our hosts realize their desire.

As usual The Northwestern Banker will publish the complete proceedings of the convention, and issue same very soon after the close of the meeting.

Brooks for President I. B. A.Long and efficient service in the interests of the Iowa

Bankers’ Association seem to place J. T. Brooks, of Hedrick, in line for promotion to the president, at the June convention at Sioux City.

In fact, there was a general understanding to this effect

Main 4276 - TELEPH O N ES - Automatic 3276

Laurence A. Jones & Co.PU BLIC ACCO U N TAN TS

AN D AUD ITO RS.

Chamber of Commerce Bldg., CHICAGO

Audits and Investigations Conducted.Systems of Accounts and Costs Installed.

ESTABLISH ED 1891L. A. JONES, 1891 HAWLEY, JONES & CO., 1902

LAURENCE A. JONES & CO., 1902

among the bankers who attended last year’s convention, and the probabilities are that he will have no opposition.

A little better than twenty years ago, along with Tre- win, Fenton, Judge George G. Wright and others, Mr. Brooks helped organize the association in the old Kirkwood building in Des Moines. He was one of the most active supporters and organizers of the group system, and for this reason was elected chairman of the Ottumwa group at the time the system was put in operation. From that time down to the present he has been each year reelected to that position, which has made him an active member of the executive council during its entire existence. It is believed that no other banker in the state has such a record of service.

Mr. Brooks is at this time the active president of two Iowa banks and an active director of a third. The Iowa Bankers’ Association will honor itself by electing him as its president for the year 1908-9.

Meeting of Group Tw oThe following announcement relative to the meeting has

Eppn vpppivp/l ■IOWA B A N K E R S ’ ASSOCIATION.

Office of Group Secretary.“ Lest We Forget.” Luverne, Iowa, April 24, ’08.

The preparations for the meeting of Group 2 at Algona, May 13th, are nearing completion and if present indications are any criterion we are sure to have a most pleasant and profitable gathering.

“ Bank Advertising” is the subject of an address by Em erson DePuy, editor of the Northwestern Banker, at Des Moines. Mr. DePuy is a practical man in his line and a most interesting speaker. This is to he followed by a general discussion.

E. A. Morling, of Emmetsburg, one of the leading attorneys of northern Iowa, has consented to try to solve some of the legal problems that have been bothering members of the Group. Send us any legal questions that you would like to have him handle.

The regular round table will he conducted by J. H. McCord, of Spencer. This is sufficient to insure the success of this part of the program. You can assist very m aterially by sending us some questions for discussion.

Come prepared to take part in all the above features. The success of the meeting in a measure depends upon you.

The local banks are making large plans to treat their guests royally. We know they will “ make good.” Be sure to count one at this meeting. We need you.

C. T. Chubb, Chairman. W. E. Kyler, Secretary.

Meeting of Group 3The annual meeting of Group 3, I. B. A. will be held

at Osage, la ., on May 20th. All visiting bankers will be made welcome and an instructive and entertaining meeting is anticipated. F . M. Hansen is chairman and Karl J . Johnson secretary of this group.



We National Bank of

C O M M E R C EIN ST. LOUIS

C A PIT A L , S U R P L U S , P R O F IT S , - $18,000,000D E P O S I T S , .......................................................... 60,000,000

Two Per Cent Interest on Bankers’ Balances

Three Per Cent Interest on Time Deposits

Fine Condition of Davenport BanksThe solidity of the Davenport banks is shown by

the fact that even at the present time they are able to pay as high a dividend as ever to their stockholders. A total of $66,750 was paid out in cash dividends on one day during April. Most of the dividends are semi-annual, with the exception of the German Savings, which paid a quarterly dividend, and that of the Davenport Trust Company, which is an annual dividend.

The German Savings paid 4 per cent quarterly in a capital stock of $600,000, the Davenport Savings is paying 5 per cent semi-annual on $250,000 capital, the Scott County Savings 6 per cent semi-annual on a capital of $250,000, the Iowa National and the Union Savings, each 4 per cent on $100,ooo capital stock. The Farmers & Mechanics has declared a semi-annual dividend of 3 per cent on $100,000, payable today, while the Security Savings bank is paying 2 per cent semi-annual on $50,000 capital. The Davenport Trust Company is paying a 5 per cent annual dividend on its paid in capital stock only, amounting to $750, hence paying out $750. The amounts paid by the various banks summarized are as follows :German S a v in g s ......................................................... $24,000Davenport Savings .................................................. 15,000Scott County Savings ............................................ 15,000Iowa N ation al............................................................ 4,020Union Savings ............................................................. 4,002Farmers and M echanics.......................................... 3 000Security .Savings........................................................ 1,000Davenport Trust Co................................................. 750

T o t a l ................................................................ $66,750

Meeting of Group T wo, Nebraska Bankers Association

Group 2 had a very successful and well attended meeting at Fremont on Arbor Day. Great interest was manifested in the various topics on the program.

THE

Scott County Savings BankDAVENPORT, IOWA

I. H. SEARS,President

Capital, Surplus, and Un-

divided Profits,H. F. PETERSEN,

Vice-President $466.849

J. H. HASS,

Cashier Deposits, $4,178,846.95

Gov. Sheldon spoke on '‘National Currency.” Other speakers and subjects discussed were:

President’s address, William E. Smails, Farmers and Merchants National Bank, Fremont.

“ What We Want to Know,” conducted by H. A. Clarke, Columbus State Bank.

“ Is Our Present Banking System Satisfactory?” V.E. Wilson, First National Bank, Stromsburg.

“ Impressions of a Bank Examiner,” E. S. Mickey, state bank examiner.

“ Bits, Fips and Wild Cats,” Clement Chase.“ What We Are Up to and the Prospects,” W il

liam B. Hughes, secretary Nebraska Bankers’ association.

“ Our Social Side,” J. P. A. Black, president Nebraska Bankers’ Association.

“ Current Exchange,” T. L. Matthews, Fremont Trust and Savings Bank.

NORTH YAKIMA, WASH.

The Bank of Central Washington for people from the Middle States.

If any o f yo u r custom ers are com ing to the Y a k ima V alley a letter of introduction w ill be appreciated by us and w ill insure them prompt and courteous attention.

G. S. RANKIN, President. H. C. LUCAS, Vice Prest-C. H. R0YCE, Cashier.


Máy, 1908 T H E N O R T H W E S T E R N B A N K E R 43

TH E SECURITY NATIONAL BANKMINNEAPOLIS

« l è i ; ^ ® 0 B a a 3 9 ® ® a a a 8'« » a a i l s l l f s g a l l l

CAPITAL - 5 1 , 0 0 0 , 0 0 0 . 0 0 SUR P LU S - 8 1 , 0 0 0 , 0 0 0 . 0 0 DEPOSITS . . . . $ 1 3 , 9 3 5 , 3 1 5 . 0 0

iSSiwiUft f S i l 3 g i a l i t i %F. A. Chamberlain, President

E. F. Mearkle, Vice-President J . S. Pomeroy, CashierFred Spafford, Assistant-Cashier George Lawther, Assistant CashierPerry Harrison, Vice-President Stanley H. Bezoier, Ass’t Cashier

We Invite Correspondence With Banks Throughout the Northwest

M I N N E S O T A N E W S A N D N O T E SThe new F irst National Bank of Gil

bert opened for business May 1st.* * *

The Security State Bank of W aterville has been incorporated with a capital of $20,000. C. W. Glotfelter is president andF. G. Henzie, cashier.

* * *The F irst National Bank of Blackhawk

has been organized by F. H. Shelson and associates. Capital, $25,000.

❖ *The Bank of Willow R iver has been

converted into a state bank. Peter Praxel is cashier.

* * *The F irst National Bank of Biwabik

is planning to erect a new building.* * *

Mr. C. H. Bailer has been elected cashier of the Peoples State Bank of Waseca.

•Ji s}» iji

Mr. Jesse M. Curtis has sold his stock in the Villard State Bank.

* * *Mr. H arry L. Shedd has resigned his

position as cashier of the Osakis State Bank, effective June 1st.

* * *Mr. L. Jensen has resigned as assistant

cashier of the F irst National Bank of

Bagley, and will be succeeded by Mr. Henry Huseby.

* * *The new bank at Janesville has opened

for business, with Cashier J . M. Byron in charge.

* * *Mr. W. T. Barry, of Kelliher, contem

plates starting a bank at Northome.* H= *

The Watkins State Bank is soon to have a fine new building.

* * *The State Bank of Becker has been

organized. Capital, $10,000. John M. Haven is president and Wm. E. Cruger, cashier.

* * *The F irst National Bank of Windom

has chosen the National German-Ameri- can Bank of St. Paul as a reserve agent.

* *The following banks have been ap

proved as reserve agents for the F irst National Bank of Benson: National Bankof Commerce, Minneapolis; F irst National Bank, St. Paul, and Capital Bank of St. Paul.

* * *The F irst National Bank of St. Paul

is getting settled in its beautiful new home. The furnishings are of mahogany

j and the interior decoration is in gold i and white, the whole presenting a very handsome appearance.

* * *The Lumbermen’s National Bank of

| Stillwater has chosen the National Park Bank of New York and the Capital National Bank of St. Paul, as reserve agents.

H= * *The National German-American Bank

of St. Paul has been approved as reserve agent for the F irst National Bank of

| Foley.❖ ❖ *

The F irst National Bank of Rushmore has chosen the Commercial National Bant of Chicago as reserve agent.

❖ Hi HsThe Northwestern National Bank of

Minneapolis has chosen the Irving National Exchange Bank of New York City as a reserve agent.

H= H= H=

The Security National Bank of Minne apolis has been appointed reserve agen;. for the F irst National Bank of Spring Valley.

* * H=Assistant Secretary Chas. R. Frost of

the Minnesota Bankers’ Association says the association is about to institute a persistent and organized effort to rid the state _ of yeggmen and all other safecracking gentry. The many robberies over the state has aroused the association, and hereafter they will work together

« The FIRST NATIONAL BANK #MINNEAPOLIS, MINNESOTA

* & Established 1864. United States Depository.

C A PIT A L anò S U R P L U S , - - §3,975.411.00 W e w ould be pleased to receiv e a share o f your

D E P O S IT S , - - - - . 13,476,151.00 business. Let us hear from y o u .



NORTHWESTERN NATIONAL BANKMINNEAPOLIS, M INN.

Capital . . $1,000 ,000 Surplus and Profits . . $1,279 ,250

Deposits . . $12 ,500 ,000

A n average of over 8 per cent Annual Dividends paid to Stockholders since Organization in 1872. Dividends Paid since Organization $2 ,450 ,000 . If you contemplate making a change in your banking connections or think of opening a new account w e would be pleased to confer with you in person or by letter.

with the different burglary insurance companies to prevent losses by burglars.

* * *The Benson District Bankers’ Associa

tion was recently organized at Benson, and the members are the banks in Swift and Hancock counties. The officers are:F. L. Stone, of the Sw ift County Bank of Benson, president; O. Blacklund, of the State Bank of Kerkhoven, vice-president, and A. D. Schendel, of the State Bank of Holloway, secretary and treasurer.

* * *

Mr. H. A. Krostue is to have charge of the Waubun Bank at Waubun when L. C. Simons moves to St. Paul to look after his new bank there.

* * *The Bank of Kensington, formerly a

private institution, began business May 1 st as a state bank.

* * *The Citizens State Bank of Janesville

has been organized with a capital of $1 0 ,- 000. Jas. J . Sullivan is president and John M. Byron, cashier.

* * *The State Bank of Cold Spring has

been incorporated with a capital of $ 1 0 ,- 000. Mary A. Maurin is president and Peter P. Maurin, cashier.

* * *The F irst State Bank of Ghent has

been authorized to begin business. Capital, $10,000. Myron W. Harden is president and Chas. Foulon, cashier.

* * *

The Sprague State Bank of Caledonia

has been authorized, converting from a private institution. Capital, $25,000. E. E. Sprague is president and R. D. Sprague, cashier.

* * *The State Bank of Deerwood has been

authorized to do business, converting from a private bank. Capital, $10,000. H. J . Hage is president and J . O. Hage, cashier.

* * *

The F irst State Bank of Shevlin has commenced business, being the conversion of a private bank. Capital, $10,000. A. Haiser is president and T. E. Rider, cashier.

* * *

The Security State Bank is the conversion of a private bank at Paynesville. Capital, $12,000. Anton Schmitt is president and W. E. Schultz, cashier.

* * *The Princeton State Bank has been

authorized to do business, converting from a private institution. Capital, $20,- 000. J . E. Skahm is president and J . J . Skahm, cashier. * * *

The officers in charge of the Kellogg State Bank are: Jos. Groff, president,and John Costello, cashier. Capital, $ 10,000.

The State Bank of Rose Creek has been chartered. Capital, $10,000. Sophronia Dean is president and W. H. Dean, cashier. * * *

The F irst State Bank of Carver has been organized. The capital stock is $ 1 0 ,0 0 0 , and the officers in charge are:

Geo. A. DuToit, president, and C. E. Funk, cashier. * * *

Mr. Ole A. Netland has resigned his position in the State Bank of Audubon, and I. L. Knudson becomes assistant cashier.

* * *

Wm. Georhe and John Hall have bought all the stock of the F irst National Bank of Foley. * * *

The State Bank of Steen has been authorized, converting from a private bank. Capital, $15,000. E . J . Edmonds is president and L. H. Bock, cashier.

* * *The F irst State Bank of Dalton has

been authorized, converting from a private bank. Capital, $10,000. F. G. Bar- rows is president and O. I. Brandveld, cashier.

* * *The F irst State Bank of Underwood has

been incorporated, converting from a private bank. The capital stock is $10,000 and the officers in charge are: C. D.Wright, president, and F. E. Solomenson, cashier.

* * *

The Citizens State Bank of Matawan has been organized with a capital stock or $10,000 by M. J . Graham and others.

* * *

The iCtizens State Bank of New Ulm incorporated recently with a. capital stock of $10,000. M. Mullen is president and W. E. Koch, cashier.

* * *The Security State Bank of Campbell

Swedish American National Bank& 0 MINNEAPOLIS & &

C a p i t a l , ................................... % 500,000Surplus, and Profits - - 400,000D e p o s it s , .................................... 3,300,000

O F F IC E R S ;

N. O. W e r n e r , President C. S. H u rbu rt , Vice-President J . A . L a t t a , Vice-PresidentE . L,. Mattso n , Cashier A . V. Ostrom , A ss’t Cashier

5« W rite Us Regarding Your N orthw estern C o llec tio n s V



KEN N ETH CL,ARK, Pres. G. H. PRIN C E, Vice-Pres. H. W. P A R K E R , Cashier H. VAN V LEC K , Ass’t. Cashier

The Merchants National BankCapital, - $1,000,000

Charles P. Noyes Louis W. H ill V. M. W atkins

of Saint Paul, MinnesotaUnited States Depository

D IR E C T O R SW. B. Parsons Crawford Livingston Kenneth ClarkGeo. H. Prince J. M. Hannaford Thomas A. MarlowL. P. Ordway P. B. K ellogg C. H. Biglow

Surplus, - $600,000

J. H. Skinner E. N. Saunders D. R. Noyes

Correspondence and Personal In terv iew s Invited

has been authorized to begin business with a capital stock of $10,000. The officers in charge are J . M. Wenger, Sr., president and J . M. Wenger, Jr ., cashier.

* * *The State Bank of Canton has been or

ganized with a capital stock of $ 1 0 ,0 0 0 . C. J . Weiser is president and F. A. Masters, cashier. * * *

W. J . Breen and others have incorporated the F irst State Bank of Rothsay with a capital of $ 1 0 ,0 0 0 .

* * *F. A. Swaboda is named as one of the

incorporators of the Security tSate Bank of North Redwood. Capital, $10,000.

* * *The State Bank of Brainerd has opened

for business with a capital stock of $25,- 0 0 0 . * * *

The Exchange Bank of Wykoff has been converted into the Exchange State Bank with a capital of $15,000.

* * *The State Bank of Moose Lake opened

for business recently with a capital stock of $10,000. H. C. Hanson is president and S. A. Jacobson, cashier.

* * *It is understood that Preston capital is

interested in a new bank to be started soon at Peterson.

* * *The Scandinavian-American State Bank

has been authorized at Badger with a capital of $25,000. T. Anderson is president and K. T. Wing, cashier.

* * *The Farm ers & Merchants Bank of

Blooming Prairie has been authorized with a capital of $25,000. T. A. Helvig is president and A. E . Johnson, cashier.

* * *The State Bank of Royalton has been

organized. Capital, $10,000. A. H. Havill is president and H. J . Schwart, cashier.

* * *L. L. Larson and J . A. Northrop have

bought the Berg bank at Borup, and will form a state bank with a capital stock of $10,000. Mr. Larson will have charge.

* * *Work has been commenced on the fine

new home to be erected this season for the F irst National Bank of Winona.* * *authorized. This is a conversion from a private bank. The capital stock is

$10,000, and the officers in charge are Andrew Lund, president, and Alfred Lund, cashier.

* * *W. W. Westcott and associates have

incorporated the Bank of Dennison as a state bank. Capital stock, $10,000.

* * *The Security State Bank of Lewiston is

planning to remodel its building this summer.

* * *Mr. L arry Larson is interested in the

new state bank which is being formed at Hendricks.

* * *The capital stock of the State Bank of

Anoka has been increased to $30,000.* * *

The safe of the State Bank of Dundee was blown recently, the robbers securing $1,300.

* * *The Farm ers & Merchants State Bank

of Zimmerman has been authorized to begin business with a capital of $ 1 0 ,0 0 0 .

* * *The State Bank of Verdi has been or

ganized. Capital stock, $10,000.* * *

The Farm ers State Bank of Arco has been authorized. The capital stock will be $ 1 0 ,0 0 0 .

* * *The Bank of Plato has been converted

into the State Bank of Plato. Capital, $10,000. Henry L. Simons and associates are interested.

* * *The Aurora State Bank of Aurora will

increase its capital stock from $25,000 to $45,000. A. W. Cowin, of Lake City, has been made vice-president.

* * *The Bank of Clear Lake has been con

verted into the F irst State Bank of Clear Lake.

* * *The State Bank of Norcross has beenThe private Bank at Johnson has been

converted into the Johnson State Bank, and will start business with a capital of $10,000. J . A. McRae is president and C. N. Evans, cashier.

* * *The Quarryman’s State Bank of Sand

stone has just added more protection, which will make it as safe as any bank in the country. They have installed the system of the American Bank Protection

Company, of Minneapolis, and are now proof against burglary.

Mr. U. C. Tower, of New Duluth, a suburb of Duluth, has closed out his banking business there in compliance with the law wnich recently went into effect prohibiting the operation of a bank with a capitalization of less than $25,000 in a city the size of Duluth.

* * *Mr. L. O. Simons, of Red Lake Falls,

will establish a bank in the Midway district of St. Paul, to take the place of the two Drew banks, which are now in the hands of a receiver. The new bank will be known as the Twin City State Bank, and will probably have a capital of $25,000.

* * *

The State Bank of Comfrey recently installed the Manganese Steel Safe of the Victor Safe & Lock Co., and is now in a position to offer its customers absolute protection against burglars.

* * *The F irst State Bank of Glyndon has

been authorized, converting from a private bank. The capital stock will be $10,- 000, and the officers are: C. P. Oliver,president, and N. H. Stadum, cashier.

* * *The Randall State Bank has been or

ganized with a capital of $10,000. This was form erly a private institution. The officers in charge are S. C. Cochran, president, and C. E. Chapman, cashier.

* * *Mr. W. W. Prichard, cashier of the

F irst National Bank of Thief R iver Falls, writes as follows: “ Referring to thefinancial conditions and outlook here will say that the spring is opening up favorably and a large acreage ’will be planted to crop by the farmers and the ground was never in better shape than at the present time. Business is fu lly as good as at this time a year ago. The bank deposits are about the same. Demand for loans not very brisk. We anticipate that the year of 1908 will be fully up to former years in business transactions.”

* * *A t the closing meeting of the Minne

apolis Chapter of the American Institute of Banking, Mr. E. W. Decker, vice-president of the Northwestern National Bank, addressed the members. A business meeting was held at the close of the address and nominations made for officers for the ensuing year, and for delegates to the Institute of Banking convention to be held at Providence in Ju ly. The fob



THE MINNESOTA NATIONAL BANK of MINNEAPOLIS

Use the M in neapo lis M oney O rd er Issu ed only by us • Ask fo r a B lock o f D ra fts w hich a ffo rd you the convenience o f an Open Account w ith us. Q uick R e tu rn s • O ur Term s the Very B est. W rite us a t once.

Capital - ■ ' $200,000Sur. & Profits - 5,000Circulation - - 50,000 Deposits - - 600,000

OFFICERS AND DIRECTORS

A. D. CLARKE ........ ....................... Prest. T . _ .. .John McCullochF. L. W ILLIAMS .....................V. Prest. f- £ Bouteli

M. W. SavageJ . D. UTENDORFER ..................Cashier w . W. Heffeifinger„ _ . , _ . . Frank W. GreavesC. I. W ELCH........................Asst. Cashier j . h . Martin

A. D. Clarke Jos. W. Molyneaux M. E. W illiam s F. Li. W illiam s J. D. Utendorfer

lowing were the nominations made: President, E. S. Jones; vice-presidents, J. P. Schaeffer and J . G. M cLean; secretary, H. C. Libby; treasurer, S. A. Gile; delegates, J . J . Cameron, R. E . Wakefield, L. T. Banks, T. M. Rees, C. B. Brombach, W. C. Hall, J . P. Schaeffer, L. T. Ainsworth, A. G. Aitkin, E . S. Jones, E. C. Phinney, O. Weibre and A. Landquist. The annual election will be held on May 1 2 th.

* * *Mr. Ramburg has retired as cashier of

the bank at Hayfield, and is succeeded byG. F. Westcott. * * *

Je sse M. Curtis, of Villard, will become cashier of the Osakis State Bank, succeeding H arry L. Shedd.

H= * *The officers of the new Twin City State

Bank of St. Paul, which is to be started soon, are announced as follows: A. J .Reeves, president; W. H. Grunhager, vice- president, and L. C. Simons, cashier.

* * *Mr. F. C. Thornton, cashier of the

First National Bank of Benson, writes tinder date of March 27th: “We have a meeting convening in Benson today to organize a county association. There have been a number of associations organized within the counties in this state and they are proving very valuable indeed, to the banks in thecounties organized.”

* * *The Farmers & Merchants State

Bank has been organized at Sedan with A. H. Reinhard as president andR. C. Curry, cashier.

* * *G. D. Wright and others have in

corporated the; First State Bank of Dalton with a capital of $10,000. The same parties are also organizing the First State Bank of Underwood.Capital, $10,000.

* * *F. L. Weber and associates have in

corporated the State Bank of Perham with a capital of $30,000.

* * *The Merchants & Miners Bank at

Hibbing are planning to erect a new building this season.

* * *The Eliason State Bank has been

organized at Montevideo. Capital, $10,000. G. Eliason is president and A. O. Eliason, cashier.

* * *The First State Bank of Grasston

has been organized with a capital of $10,000. The officers are John Run- quist, president, and Harry A. Lamb, cashier.

* * *At a recent meeting of the directors

of the First National Bank of Waseca, the following officers were elected: James E. Childs, president, to succeed A. N. Norton, resigned; C. P. Som- merstad, vice-president, and R. C. Didra, cashier.

* * *The Bank of Mabel has been con

verted into the First National Bank of Mabel. * * *

The Farmers State Bank of Alvarado has been chartered with a capital of $10,000. O. H. Taralseth and others are interested.

* * *O. IT. Taralseth and associates have

incorporated the State Bank of Viking with a capital of $10,000.

* * *The First National Bank of Biwa-

bik will erect a fine new building this season.

* * *It is reported that the Bank of Ed-

gerton will soon be converted into a state bank.

* * *The Racine State Bank has been

chartered. Capital, $15,000. S, Utzinger is president and R. W. Chadwick, cashier.

* * *The London State Bank has opened

for business. Their capital stock is $10,000.

* * *The Bank of Arco has been convert

ed into the Farmers State Bank. Capital, $10,000.

* * *Ben R. Hassman and E. R. Foley

have bought the First National Bank of Aitkin.

Banking System Antiquated

The Tribune says that bankers of Minneapolis are in accord with David R. Forgan, of Chicago, who expressed himself that the “ banking system of the country was a good one when organized originally, but that it is now fifty years behind the times.”

Cashier W. S. Harris, of the National Bank of Commerce, expressed himself as follows:

“ I think it is the law that needs amendment; the banks are all right. There is no doubt but that there is a lot of money out of use that ought to be turned into the channels of commercial activity, but this is not the fault of the banks.”

F. M. Prince, president of the First National, had the following to say on this question:

“ It is not the fault of the banks, but the currency system. We are, no doubt, in need of some reform in currency matters, but just what it should be has not yet been fully determined. Most everyone has an idea on the question. Here in Minneapolis, I think there is opposition to the Aldrich bill.”

The above are fair samples of the expressions of bankers in this city. They are all readers and are advocates of new systems in banking along lines of modern thought.


47May, 1908 T H E N O R T H W E S T E R N B A N K E R

S E C U R I T Y People’s Savings BankDES M OINES, IOW A

National Bank Capital, $100,000.00 Surplus, $75,000.00

SIOUX C IT Y , IOWA OFFICERS:

C. H. M A R T IN , - . . . . PresidentCapital, . . . $250,000.00 T . F. F L /i^ N , - - - - - - V ice-P resid en t

Surplus and Profits, - - 172,592.51 E. A . SLUNINOER, A sst. CashierDeposits, - - - 3,420,841.10 D IR EC TO R S:

W. MANLEY, President C. L. WRIGHT, Vice-Pres. T. A. BLACK, Vice-Pres C. H. A in ley O. H. P erkins C. C. L oom isC. N. LUKES, Cashier C. W. BRITTON, Ass’t Cashier L. Sheuerm an T . F. F lynn C. H . Martin

D A K O T A N E W S A N D N O T E S

Mr. M. J. Carr has sold his interest in the F irst State Bank at Ray, N. D.

* * *George Horras, cashier of the Hot

Springs National Bank of Hot Springs, S. D., which failed last October, has been arrested for embezzlement.

* * *The F irst National Bank of Kramer,

N. D., has bought the F irst State Bank of that city.

* * *The Meadow State Bank of Meadow,

S. D., has been organized and w ill start business with a capital stock of $5,000.

* * *Work has been commenced on the

Cleveland State Bank building, at Cleve- land, N. D.

* * *

The F irst National Bank of Carrington, N. D., is now occupying temporary quarters, and plans are being drawn for a new building.

* * *There is said to be a good opening for

a bank at Moffit, N. D.* * *

The F irst National Bank of Marmarth has been chartered under that title, changing from the F irst National Bank of Bowman.

* * *Stamford, Stanley county, S. D., is said

to offer a good field for a banking institution.

* * *E. Thorvaldson and associates will open

a bank soon at Mountain, N. D.* * *

Mr. G. V. Holset will be cashier of the new Merchants State Bank to be opened at Napoleon, N. D.

* * »

Mr. W. J . H arris w ill centralize his banking interests at Mobridge, S. D.

* * «Mr. Matt McCarthy has resigned as vice-

president of the Security State Bank of Dunseith to give his attention to the York

Cavalier County National Bank. The officers in charge will be W. J . Mooney, president, and John Sheehan, cashier.

* * *C. J . Johnson has been elected presi

dent and P. Z. Mowry, cashier of the Farm ers & Merchants State Bank at Mon- ango, N. D.

* * *J . H. Hughes has resigned as cashier of

the Merchants National Bank of Dickinson, N. D., and is succeeded by E. W. Car- lock, of Minneapolis.State Bank in which he is interested. C. S. Orwall, of the Clarkfield (Minn.), State Bank, succeeds him.

* * *The F irst National Bank of St. Paul

has been approved as reserve agent for the Cavalier County National Bank of j Langdon, N. D.

* * *

The Western National Bank of Mitchell, S. D., took possession of its handsome new home April 6th. It is a four-story building, the first floor being occupied byi the bank and the others by offices. It is built of brown stone and pressed brick, and the exterior presents a very substantial and dignified appearance. The wood work throughout the banking rooms is mahogany, with wainscoting of green marble and mosaic tile flooring. The fixtures are all up-to-date, and the Western National is certainly to be congratulated on the beautiful apartments they now occupy. The officers of this enterprising institution are: S. E. Morris, president;I. W. Seaman, vice-president; R. P. Loomis, cashier, and Laurice Vickers, assistant cashier.

* * *Mr. A. R. Thompson, cashier of the

F irst National Bank of Overly, has resigned his position and will remove to Washington.

* * *The Farm ers & Citizens Bank of Bryant,

S. D., recently installed a new Victor Screw Door Manganese burglar proof safe. This gives their patrons absolute security, as one of these safes has never been opened by burglars.

♦ * * * * *

The W. J . Mooney State Bank of Lang- The F irst National Bank of St. Paul don, N. D., has been converted into the I has been approved as reserve agent for

the Union National Bank of Minot, N. D. * * *

The F irst National Bank of Marmouth has chosen the Continental National Bank of Chicago and the Northwestern National Bank of Minneapolis as reserve agents.

* * *The Charles Mix County Bank at

Geddes, S. D., has increased its capital to $25,000.

* * *John Waldron and Fred L. Dunn have

formed the Fall R iver County Bank of Edgemont, S. D., with a capital stock of $ 10,000.

* * *The comptroller of the currency has ap

proved the application to convert the F irst State Bank of Anamoose into the F irst National Bank. Capital, $25,000.

* * *W. J . Brugman and associates have or

ganized the Blaisdell State Bank of Blais- dell. Capital, $10,000.

* * *

The Merchants Bank of Napoleon, N. D., has been incorporated with a capital stock of $10,000. H. E. Perkins is named as one of the incorporators.

* * *Mr. Aug. Peterson, of Plaza, is inter

ested in the organization of the First National Bank of Ryder, N. D.

* * *The F irst State Bank of Mylo, N. D.,

has been authorized tof begin business with a capital stock of $10,000. W. L. Simpson and others are interested.

* * *The State Bank of Sarles, N. D., has

increased its capital stock from $15,000 to $25,000.

* * *The State Bank of Cooperstown, N. D.,

has increased its capital stock from $25,- 000 to $30,000.

* * *Mr. C. H. Christiansen, of Mohall, will

be cashier of the F irst National Bank of Ryder, N. D.

* * *~*.r. A. R. Thompson has resigned his

position as cashier of the F irst National Bank of Overly, N. D.

£ ♦The Farm ers & Merchants State Bank

of Reeder, N. D., has been organized with a capital of $10,000. Among those interested in the new enterprise are: E. B.Page, of Leeds, N. D.; C. A. Cameron, of Minneapolis, and E. F. Jones, of Reeder.



H. D. CO PELA N D & CO.181-183 U N IO N S T O C K Y A R D S

C h i c a g o

LIVE STOCK COMMISSION MERCHANTSBankers desiring to make loans on Live Stock or R anches or having loans they w ish investigated should correspond with us. We are up to date in all lines of the L ive Stock business and charges w ill be reasonable.

REFERENCESN ational L ive Stock Bank, Chicago National Bank of Republic, Chicago

L ive Sto ck Shipm ents Solicited

Hotel CollingwoodTHIRTY-FIFTH STREET

B E T W E E N F IF T H A V E N U E A N D BROADW AY

N E W Y O R K

Absolutely fireproof, containing every modern comfort and convenience, conducted in a thoroughly first- class manner and within a .»cone’s throw of the fashionable shops, clubs and theatos. Suites and single rooms with bath, for tranrient and permanent occupancy. Restaurant a la carte.

F R E D ’K V . W IS H A R T

H ealthy Conditions in the C ity to the N orth

In a recent review of conditions as they exist in St. Paul, the News of that city makes the following statements :

“ Again the wonderful prosperity of St. Paul and the great Northwest is brought forcibly to the fore. St. Paul, for January and February shows an increase of almost 1 1 per cent in bank clearings.

“ Bankers and financiers in St. Paul said today trade conditions are remarkably prosperous for this time of year. Nothing like the present upward tendency in business has been experienced in St. Paul in years.

“ This is a statement of money men concerning St. Paul alone. Compared with 100 of the largest cities in the United States, St. Paul easily leads them all.

“ Reports from commercial agencies throughout the United States for the foregoing week show that St. Paul is one of but 1 1 cities out of 100 showing an increase in bank clearings.

“ The great metropolis of the country, New York City, shows a decrease of almost 38 per cent, St. Paul shows an increase of almost 1 1 per cent. No other city in the United States, considering population and industrial conditions, compares with St. Paul.

“ Throughout the country men of money are looking toward St. Paul. It it considered remarkable, even by those envious of the prosperity of St. Paul, that trade conditions are so excellent and so solid here.

“ Those in a position to know said todav the jobbing trade was unusually good for this time of year, retail business satisfactory, money easy at 6 per cent, and the surrounding territory benefited greatly by the prosperity of St. Paul.

“ Newcomers to the city, it is said, marvel at trade conditions. They

travel to other cities and praise St. Paul. This, it is argued, brings investors to St. Paul and adds greatly to the welfare and to the standing of the city.

“ Bank clearings for January, 1908, were $40,524,147.19; February, $30,- 019,468.20, to the present date. Bank clearing for January, 1907, were $37,- 964,410.07; February, $28,218,645.47.

B row erv ille , M innesota B ank Loses in an Unusual Suit

The First National Bank of Browerville, lost in the supreme court in a suit, which is both unusual and interesting.

W. H. Ferrell and Frank Stadden, doing business as Ferrell & Co., copartners. were the defendants. The suit was started in 1906, and was an action to recover on a draft for $95. made by Stadden on Ferrell. Ferrell refused to honor the draft on the grounds that it was unauthorized. After a long delay, a decision was finally handed down by the supreme court, which held in favor of Ferrell. The court’s decision read as follows:

First. Members of trading co-partnerships have implied authority to pledge the credit of the firm by the issuance of negotiable instruments in furtherance of the co-partnership business.

Second. But such authority is only an inference or presumption arising from the relationship of the parties and is not conclusive.

Third. I f the authority and duties of each member of such a co-partnership be expressly defined or limited, any act in excess of or beyond the limitations imposed is void and not binding upon the firm, except as to third persons, who without knowledge of the limitations rely upon the implied authority of the individual members.

I Fourth. Complaint in this action

upon a bill of exhange issued by one member upon another of a trading copartnership, held to show that the issuance thereof was not within the authority of the co-partner issuing it.

Im provem ents at E xch an ge State Bank of Collins, Io w a

A local paper has the following to say regarding the work done at the Exchange State Bank:

“ Messrs. French and Troup, cashier and assistant cashier of the E x change State Bank, have been doing some good home talent work in housecleaning at the bank. They called in Clarence Jackson, who, as a decorator is hard to beat, and with a modest expense they have made the bank look elegant, indeed we are safe in saying that there is no prettier bank in Story county.

“ We didn’t know that we had a real live artist in our community. But we have to admit it. Mr. French is a constant worker for the bank and his careful and successful management is recognized and appreciated. Along with his other labors of love, are the water color pictures he painted in his leisure hours for the bank and which have been placed into the walls. They represent a tropical ocean scene, scene on bay of Naples and fishermen at work. They give the finishing touches to the decorations and are indeed as meritorious as they are pretty. The lower third of the walls is covered to imitate leather with a gold molding at the top.”

The state banking board has chartered the Farmers State Bank of Fairmont ; capital stock, $2,500; president, George E. Aldrich; vice-president, B. E. Aldrich; cashier, Francis F. Put- litz.



A U C T I O N

S a l e s C l e r kW e send our complete Auction Sales C lerk Outfit, consisting of one» first-class Binder, 100 Sales Sheets, Carbon Paper and Press Boards, for

$2.25W e prepay express when draft accom panies order and return your money if not entirely satisfactory.

Bankers Cabinet & Supply Co.,Des Moines, Iowa.

IO W A B A N K E R S A S S O C I A T I O N

CONVENTION AT SIOUX CITY IN JU N E.O FFICERS FO R 1907-1908.

PRESID EN T.H. M. Carpenter, Cashier Monticello State B a n k .. . .Monticello

VICE-PRESID EN T.J . H. Easton, President Iowa State B an k ................... Waterloo

T R EA SU R ER .E. J . Curtin, President Citizens Savings B an k ...........Decorah

SEC R ET A R Y .J. M. Dinwiddie, Cashier Cedar Rapids Savings B a n k . . . .

.........................................................................................Cedar RapidsGROUP O FFICERS.

Group 1 —F. B. Parker, Chairman, Assistant Cashier Lyon County National Bank, Rock Rapids.

L. F. Parker, Secretary, F irst National Bank, Cherokee.

Group 2—C. T. Chubb, Chairman, Assistant Cashier Algona State Bank, Algona.

Wm. E. Kyler, Secretary, Cashier German Bank, Luverne.

Group 3—F. M. Hanson, Chairman, Cashier F irst National Bank, Garner.

Karl J . Johnson, Secretary, Cashier Farm ers National Bank, Osage.

Group 4—M. V. Henderson, Jr., Chairman, Cashier F irst State Bank, Hawkeye.

D. B. Allen, Secretary, Cashier F irst State Bank, Arlington.

Group 5—J. F. Lake, Chairman, Cashier Commercial Savings Bank, Shenandoah.

Jas. Hunter, Secretary, Cashier German-American Bank, Minden.

Group 6—S. M. Leach, Chairman, President Adel State Bank, Adel.

John W. Foster, Secretary, President Citizens National Bank, Guthrie Center.

Group 7—P. A. Korab, Chairman, Cashier Iowa City State Bank, Iowa City.

Chas. A. Blossom, Secretary, President Citizens National Bank, Belle Plaine.

Group 8—A. C. Smith, Chairman, Cashier City National Bank, Clinton.

George E. Bartholomew, Secretary, Vice-President F irst National Bank, Preston.

Group 9—F. D. Ball, Chairman, Cashier Iowa State Savings Bank, Creston.

Geo. N. Ayres, Secretary, Cashier Weldon Savings Bank, Weldon.

Group 10—J. T. Brooks, Chairman, Cashier F irst National Bank, Hedrick.

L. E. Stevens, Secretary, Cashier Ottumwa National Bank, Ottumwa.

Group 1 1 —J. A. Dunlap, Chairman, Cashier Keokuk National Bank, Keokuk.

Victor H. Shield, Secretary, Cashier F irst National Bank, New London.

Honorary—John J . Large, Cashier F irst National Bank, Rock Valley.

C O M I N G C O N V E N T I O N S

SOUTH DAKOTA B A N K ER S ASSOCIATION—Deadwood, Ju ly 8 th and 9th. J . E. Platt, Sec’y, Clark.

NORTH DAKOTA B A N K E R S ASSOCIATION—Bismarck, Ju ly 16th and 17th. W. C. McFadden, Sec’y, Fargo.

IOWA B A N K E R S ’ ASSOCIATION— Sioux City, June 11th to 12th. J . M. Dinwiddie, Sec’y, Cedar Rapids.

M INNESOTA B A N K ER S ASSOCIATION—Duluth, Ju ly 23d and 24th. E. C. Brown, Sec’y, Minneapolis.

COLORADO B A N K E R S ASSOCIATION—Colorado Springs, in Ju ly. A. A. Reed, Sec’y, Boulder.



Directory of Representative Iowa BanksTOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER

Ackley .......... EXCHANGE BANK ................ John Rath ............Adel.................. ADEL STATE BANK ............ S. M. Leach . . . . W. B. K in n ick ..........

E. E. H ugh es............Albert C ity___ SECURITY SAVINGS ............ Geo. R. Anderson C. E. L a rso n ..............Algona..............Alton..............

FIRST NATIONAL ................BANK OF N. W. IOWA

A. A. Call ............ D. H. Hutchins..........G. W. Pitts ..............

W. K. Ferguson........M. D. G ib b s ..............

Alvord.............. ALVORD BANK ...................... Chas. Shade . ..Aplington........ FARM ERS SAVINGS .............. A. Ontjes ............ C. P rim u s....................

C. D em ing..................C. A. Ellis ................H. A. A rn o ld ..............R. B. Y o cu m .............

Arlington.......... FIRST STATE .......................... T. Dunning . . D. B. Allen ...............Arthur.............. ARTHUR SAVING .................. G. E. Clifford . . .Audubon.......... FIRST NATIONAL .......... Chas. Van Gorder

0. E. Yocum . .. .F. S. W a tt s ...............P. D. Wine ...............Aurelia.............. FARM ERS & MERCHANTS. ..

Ayrshire............ FIRST NATIONAL .......... M. L. Brown . .. . John S h erlo ck ........... J . M. K e l l y ...............Battle Creek... BATTLE CREEK A S IN G S .... J . L. Riesdel . . . . H. M. Schmidt . . . . D. H. Hedrick ..........Battle Creek... M APLE VA LLEY SAVIN GS.. W. H. James . . . . J . E. Spotts .............. H. J . Snover ..............Baxter.............. STA TE SAVINGS .................... Fred Hager ........ H. A. Geise ..............Bennett............ BEN N Ei'T SAVINGS .............. A. Hinrichs John B an n ick ............

S. S. Standley ........E. P. W in gert............S. F. McConnell ___Bloomfield........ TAYLOR-McGOWEN B A N K .. J . H. Taylor . . . .

Boyden............... FARM ERS SAVINGS .............. W. M. Smith ___J. H. Ricke

John McCandless G. Von Gian .

W. H. E d d y ..............F. Van Erdewyk . . . F. L. Shum aker........

Breda................ BREDA SAVINGS ..................Bronson.......... BRONSON SAVINGS .............. A. T. Bennett . .. Ernest D a w e ..............B roo k lyn ........ FIRST NATIONAL .............. B. M. Talbott . . . . A. B. Talbott .......... N. H. Wright ..........Burt ................ FIRST NATIONAL .................. J . W. Wardsworth

C. KneblerL. C. Smith

Calamus............ FARM ERS SAVINGS ............ A. Wendel ................M. B. Flanigan ........

C. A. B la k e ...............A V. D e iv in ............Cascade............ CASCADE STA TE . H. L. Dehner . . . .

Casey................ ABRAM RUTT NAT’L ........ Abram Rutt ___C. H. Rodenbach .

Wm. Valentine ........Roger L e a v it t ............Cedar Falls___ NAT. SAV. & TRUST CO.. . . F. B. M ille r ..............

Cedar F a lls .. . . CITIZENS SAVINGS .......... C. A. Wise .......... W. N. H ostrop.......... 0. H. Leonard ............Churdan............ FARM ERS & MERCHANTS.. M. M. Head Mahlon Head ............

Joseph C a rro ll..........M. B. Westervelt . . . M. F. C oon s..............Churdan.......... .. FIRST NATIONAL ............ C. J . Martin ___

Clarence............ CLARENCE SAVINGS .......... D. Elijah Fred H ec h t................H. E. P a rslo w ............

D. L. D ie h l ...............E. G. Day .................Clarinda............ CLARINDA NATIONAL ........ Ed. F. Rose

Grant McPherrin W. A. Pollock . .1. S. N. Goodhue . . . John Thompson .,

Clearfield.......... CLEARFIELD BANK .............Clemons............ BANK OF CLEMONS .............. T E PollockCoggon..............Collins..............

COGGON STA TE BA N K ..........BANK OF COLLINS. .. .

A. J . W a re ................ N. B. Richardson . . . W. H. Thompson . . . .

Conrad.............. CONRAD STATE B A N K .......... Jno. Murrow, J r . . S. W. Richardson D. Davenport . . . Chas. N. Voss . . .

P. T. E v a n s ..............C. L. B u lla rd ............P. C. Winter ............D. H. M cK ee..............

E. L GuildCreston.............. FIRST NATIONAL .................. M. D. SmithCreston.............. IOWA STATE SAVIN GS........ F. D. B a l l .................

Ed Kaufman ............Davenport........ GERMAN SAVINGS ................Delmar............... PEOPLES SAVINGS . . . . P. Shollenberger

L. Cornwell ___W. R. B a rr ic k ............Geo. N a e v e ................

F P. GondjnhnDenison.............. CRAWFORD COUNTY STATE M. E. Jones ..............Denison.............. FIRST NATIONAL .. .. W. A. McHenry .

G. D. Ellyson . . .M. S. McHenry Sears McHenry ........

Des Moines.., MAr QUARDT SAVINGS . . . , D. F. Witter ............ J . H. H ogan ................De W itt.......... FIRST NATIONAL ................ W. H. Talbot . . .

W. R. Jameson . . C. H. Eighmey .

Wm. Lee . . . . À. M. P r ic e ................Dows.................. FARM ERS EX. S T A T E .... W. P. Mendell ........

E. A. E n g le r ............Dubuque............ FIRST NATIONAL ............ B. F. Blooklinger___Dunlap.............. FIRST NATIONAL ................ , T. F. Jordan ........ W. T. Preston ............

G. P. M oorhead........R. Tagge ...................D. D. M y e rs ..............E. F. S u i t .................

A. N. Jordan ..........Dunlap.............. DUNLAP STATE . . . . L. K e llo g g ...........

Theo. Sindt . . . .Durant.............. FARM ERS & MER. S T A T E .. W. H. Crecelius . . .Dyersville.......... GERMAN STATE .................... Jacob Kerper . . . .

H. P. Je n se n ___D. A. Gehrig.............

D ysart............ DYSART S A V IN G S ................. Henry M o h r..............Eldora.............. CITIZENS SAVINGS . .............. J . F. Hardin . . . . N. R. Van Avery . . .

C. C. M u eller............L. W . H a rr is ..............

Emmetsburg... FARM ERS SAVINGS .............. D. A. Johnson . . . J . W. N e a r y ..............Essex................ FARM ERS S A V IN G S .......... R. A. Sanderson . H. A. Chandler ........ J . A. E k e ro th ............Farley ................ STATE BANK OF FA R LEY .. W. J . Creglow . . .

H. W. Beacham .Will B a k e r ................ Geo. A. G ib b s ............

Farnhamville... BANK OF FARNHAMVILLE . Chas. B eacham ..........Fayette ............ STA TE BANK OF FA Y ETTE J . A. Claxton . . . Q. C. B abcock ............ C. R. Carpenter..........Floyd .............. FARM ERS & MERCHANTS.. Rodney Hill . . .

G. S. Gilbertson .G. H. Ja c k so n ............

Forest C ity.. FOREST CITY N ATIO NAL... W. 0. H an son .......... C. A. Is a a c s ...............Fort Atkinson.. W INNESHIEK CO. BANK . . . C. J . W eiser___ E. W. D. Holway . . . F. J . Pouska ............Fremont........... STATE BANK OF FREMONT M. E. Votan . . . . D. K. U n su k er .......... E. È . A u stin ..............Garner.............. FARM ERS NATIONAL . . . . C. K. M o e ........... G. E. Troeger ..........

S. S. DobsonTsaac Sw eigard ..........

Garwin.............. GARWIN STA TE .......... ......... G. H. Austin . . . . Edwin B e e r y .............Glenwood.......... MILLS CO. NATIONAL ........ D. L. Heinsheimer F. M. Buffington . . . .

L. C. Christensen___Wm. Voss ................

A. D. F ren ch ..............Graettinger.. . . Grand Mound

FIRST N A T IO N A L .................. M. L. Brown . . . 0 S George ........PEOPLES SAVINGS .............. Geo. Jordan ___

N. H. Graff . . . .Granville.......... EXCHANGE B A N K ................... H C G r a f f ................Greeley.............. BANK OF G R E E L E Y .............. Thos C o le ............Greenfield........ FIRST NATIONAL ................. A. P. Littleton . . . W. W. B u rre ll........... C. D. M y e rs ...............Greene ............ FIRST STATE ......................... 0. C. Perrin . . . . M . J . P e r r in .............. F. L. Stober ..............Grinnell.......... MERCHANTS NATIONAL .. S. A. Cravath . . . . E. W. C la r k ............ Geo. H. H am lin ..........Guthrie Center. FIRST NATIONAL ................. E. C. Lane ........ F. M. Hopkins .......... C. H. Lane ................Hampton.......... CITIZENS NATIONAL .......... T . J . B. Robinson N. W. B e e b e ............ W. L. Robinson ___Harlan............. HARLAN B A N K ....................... Geo. Walters . . . . M. V. W alters ........... G. Walters ...............

F. F. W u n d er ..........Harlan.............. SH ELBY CO. S T A T E ............ L. F. Potter .. T . N. Franklin ........Harris................ HARRIS S A V IN G S .................. H H. Buck . . . B. B. Van Steenburg.

Oliver EvansA. E. B u c k ................

FIRST NATIONAL .................. E. F. Broders W. J . D a v is ..............G. E. K n a a c k ............Hartley............ GERMAN S A V IN G S ................ J . T. C o n n .......... Wm. T . V o s s .............

Hartley .......... H ARTLEY STATE .................. Frank Patch ........ D. A. Patch .............. F. R. Patch ..............

C A P .

$ 50,00050.00030.00050.000

20.00015.00025.00015.00050.000

25.00040.00025.00030.00020.000 54,10015.00020.00010.00050.00025.00016.00050.0002 5 . 0 0 0

160.000100.000

1 0 .0 0 025.00025.00050.00040.00010 .0 0 025.0003 5 . 0 0 040.00050.00050.000

600.00025.000

100.000100.00050.00050.0004 5 . 0 0 0

200.00030.00050.00025.00025.00030.00040.00025.00025.00025.0003 5 . 0 0 035.00020.00050.000

40.00025.00030.00065.00025.00030.000

10.00025.00050.000

100.00040.000

100.0005 0 . 0 0 0

10 0 .0 0 010 .0 0 050.0002 0 .0 0 0

50.000

D E P .

$380,000

107,682330.000

100.000

125.000130.000 586,433

100.000260.000195,761230.000 243,204

80.000247.70090.000

310.00070.000

600,999230.000606.0005 5 0 .0 0 085.000

160.000 225,631350.000165.000

30 0 .0 0 095.000

227,296490,456450.000

9 ,16 0 ,0 0 0145.000600.000500.000500.000350.000

MOO,000 15 0,000393.000175.000483.000250.000

90.000134.70042.000

120.000125.0003 14 .0 0 01 10 .0 0 0345.000

720.00 0165.000 2 1 5 0 0 0225,00010 0 ,0 0 0 330 000

70.0002 2 0 ,0 0 0350.000600.000300,000 437 ,270

550.0004 5 .0 0 0

180.000178.000340.000


T H E N O R T H W E S T E R N B A N K E RMay, 1908 5 1

Directory of Representative Iowa Banks(C ontinued)

TOWN

Hedrick..............Htlisburo..........Holstein.......... ..nopKincon........Hopkinton........jtiuason...............Iowa Tails........Kalona..............Keilerton..........Kellerton ........Keokuk..............Kesley................Klemme............Knoxville..........Lake C ity........Lake M ills.......Le C la ire ........Lehigh...............Letts..................Lineville............Livermore . . .Lowden..............Lu Verne........Lyons..............Macksburg.. . .McCausland___Madrid..............Manchester___Manson..........iViapleton..........Mlarcus..............Mnrion..............Marshalltown.. Miason C ity .. . .Miatlock..........Miechanicsville.Miediapolis........Malford..............Milford..............Missouri ValleyMitchell............Modale.......... ....Montezuma___Mfontour............Monticello........Mionticello........Mioulton............Mt. A yr............Mt. A yr..........Nashua..............Nemaha............Nevada..............Nevada ............Newell..............Newell..............New Hampton New Sharon...Newton..............North English..Norwalk............Olin...................Osage................Osceola..............Osceola..........Oskaloosa........Ossian................Ottumwa..........Ottumwa Oxford JunctionPanora..............Perry................Perry................Pomeroy............Prairie C ity ...Reasnor............Red Oak..........Red Oak............Renwick.......... .Rock R apids... Rockwell City.

NAME OF BANK PRESIDENT VICE PRES. CASHIER jHEDRICK S T A T E .................... J . B. Mowrey . . . B. D. M o w rey .......... F. H. T in s le y ...........FARM ERS & TRAD. S A V .... James Kennedy .. Wm. A. T a d e ............ H. D. T a d e ..................HOLSTEIN SAVINGS ............ J . W. R e e d .......... J . C. K u c h e l............. C. J . Wohlenberg . . . .FARM ERS STA TE .................. H. M. J ohnson .. S. P. Thorpe.............. A. W. McDonaldHOPKINTON ST A T E ................ F. B. Doolittle . . F. E. Williamson . . . F. C. R e e v e ................FIRST NATIONAL ................. Thomas Loonan . F. R. Hollis ............ C. W. Bedford ..........HOME SAVINGS ..................... J . M. Rinehart .. H. L. W a lk e r............ W. S. Walker ........FARM ERS SAVINGS . . . . . . . C. M. K e c k .......... L. E. Edmondson___ F. E. Skola ..............RINGGOLD CO. SAVINGS . . . W. H. Merritt .. W. A. H opkins.......... G. W. B la i r ...............KELLERTON STATE .............. j . A. Woollums . T. C. Gorsuch .......... W. G. McCleary . . . .STATE CENTRAL SAVINGS. Wm. L o g a n .......... Geo. E. R i x ................ C. J . Bode ..................BANK OF K E S L E Y ................ H. N. R e in ts ..............STATE SAVINGS ................... W. R. Bloom . . . . D. D. Ross ................ P. M. Griesemer........MARION CO. NATIONAL . . . 0. P. Wright ___ Chas. P e r r y ................ 0. L. W rig h t..............CITIZENS BANK ................... E. W. Townsend . S. A. Townsend........ R. F. Townsend ___FIRST NATIONAL ................. P. M. Joice ___ J . C. Williams . . . . A. W. W inden..........LE CLAIRE SA V ...................... C. S. Simpson . . . W. A. Shirk .............. J . E. Park ................LEHIGH VA LLEY SAV............ J . L. Hamilton .. P. F. N u g e n t............ N. H. Tyson ............CITIZENS S A V IN G S .............. Wm. Lieberknecht Thos. N e w e ll............. E. R. McCormick . . .FIRST N A T IO N A L ........... . Geo. Rockhold . . . C. W. E ls o n .............. D. T. Sollenbarger . . .STATE BANK OF L .................. G S. Ringland ........ E. J . H in e s ................LOWDEN S A V IN G S ................ H. D. Kenm ann........ H. H. Peterson..........GERMAN B A N K ....................... Rodney Hill . . . . W. E. K y le r ..............IOWA STATE SAVINGS .... C. H. Ingwersen .. T. J . H udson............ Gustv G ra d e rt..........MACKSBURG NATIONAL .. J . M. Wilson . . . J . H. M a c k ............... W. W. W a lk e r..........McCAUSLAND SAVINGS . . . . L Litscher . . . . F. J . L e s s in ............... F. E. R in g e y .............MADRID STATE .................... Oscar Oakleaf___ Peter C a sse l.............. F. H. G ra v e s ...........DELAW ARE CO. B A N K .......... W, C. Cawley . . . R. W. T ir r i l l ..............BANK OF M AN SO N ................ M. W. Fitz ' ___! M. E. Griswold ........ B. E_ Sehern ............FIRST NAT. BANK .............. J . R. Welch . . . . E. L. Crow ______ C. C. Jacohsen ..........BANK OF MARCUS : .............. Louis Gund ........ W. L. Gund ................FARM ERS & MER. S T A T E .. G. W. Toms ___ E. J . E s g a te ................CITY N A T IO N A L..................... D. T. Denmead .. A. M. S e c r is t ............ C. C. St. Clair ..........FIRST NATIONAL ................. C. H. McNider . J . L. Carney ............ W. G. C. Bagley . . . .BANK OF MATLOCK ............ M. Brink ............ C. W. B r in k ................MECHANICSVILLE SA V ........ H. P. Stoffel . . . . W. C. P a g e ............... E. Webbies ................CITIZENS STA TE .................. C. H. McKee . . . Joseph Barton .......... M. U. Bridwell ........FIRST NATIONAL .................. P, Rasmussen . . . C. Torstenson .......... C. F. Mauss .............MILFORD SAVINGS .............. M. S. D ew e y ........ J . E. Knudson.......... H. S. Abbott ..........FIRST NATIONAL ................. G. A. K e llo g g ___ J . E. Blenkiron.......... J S. McGavren ........MITCHELL SAVINGS .......... A. C. Prime ........ Henry In d r a .............. C. A. R a n d a ll............STATE SAVINGS ................... J nhn Young . . . . W. J . Burke .............. H M SilsbyMONTEZUMA SAVINGS . . . . J . W. Carr” .......... H. F. Morton .......... A. C. M cG ill..............FIRST NATIONAL ................. H. J .Stiger .............. R. E. Austin, J r . . . .LOVELL STATE ..................... G. L. L o v e ll.......... J . w. Hall .................. R. C. Stirton ..........MONTICELLO STATE .......... S. S. F a rw e ll___ Wm. Stuhler ............ H. M. Carpenter . . . .MOULTON STATE SAVINGS M. S. Edwards . . . R. B. C arson .............. J . B. S n e e d ...............IOWA STA TE B A N K ............ J . W. H a rv e y ___ Thos. T e a le ................ Bert Teale ...............MT. AYR B A N K ...................... G. S. Allyn . . . . J . H. A l l y n ...............A. G. CASE & CO................ .. J . A. Case ........NEMAHA S T A T E .................... Ë. N. Bailey ___ D. W. G r a f f .............. C. H. Townsend........FARM ERS BANK .................... J . G. Dutton ___ T. A. M i l l s .................FIRST NATIONAL .................. J . A. Fitzpatrick W. P. Zwilling ........ Edgar John ..............BANK OF N E W E L L ............... J . T. Norton . . . H. A. H a rv e y ............M ILLER & CHANEY BANK. D. C. Miller . . . . G. W. C h aney............STATE BANK .......................... John F o le y ........... E. N. O lm sted.......... W. L. T u rn e r ............NEW SHARON S T A T E ............ J . G. Hammond . H. M. W hitacre........ C. C. B ranson ............CITIZENS STATE ................... F. L. M a y ta g ___ Toe Horn .................. L. E. B ro w n ..............NORTH ENGLISH SAV.......... J . W. Erwin . . . . W. F. Hill ................ E. D. B a i r d ...............NORWALK B A N K ................... Simon Casady . . . J . N. C a s a d y ............CITIZENS S A V IN G S .............. W. H. Crain . . . G. Blayney ................ H. W. Flenniken . . .HOME TRUST & SAV............ J . W. A n n is___ K. J . Johnson L. W. Knoulton........IOWA STATE B A N K ............. J E. Shepard . . . . W. B. Tallman ........ Chas. I s r a e l ................SIMMONS & CO.......... . . . . . .MAHASKA CO. S T A T E .......... W. R. Lacey . . . . H. S. H aw rd ................ R. M. B o y e r ..............CITIZENS BANK ................... R. W. Anderson .. A. T. Gunderson........ M. J . K le in ................OTTUMWA NATIONAL . . . . J . B. Mowrey . . . T. T. Hackworth . . . L. Ë. S teven s..............OTTUMWA SAV......................... F. Von Schrader . B P. Brown . . .EXCHANGE B A N K .................. L. Zeller ............. L. F. Zeller.................CITIZENS STATE S. C. Culbertson E. E. K e llo g g ............ H. M. Culbertson . . . .CITIZENS S T A T E ................... S. S. Dilenbeck .. S. M. Thornley.......... B. C. Dilenbeck ........PEOPLES SAVINGS ................ J . P. O’Malley . . . Wm. W o lf .................. Jno. Carm ody............POMEROY STATE ................. J . H. Lowrey . . . . M. F. M ullan.............. Jno. F. Gutz ..............STATE B A N K ............................ T E. Johns.......... John Ryan.................... H. M. Wilson............REASNOR SAVINGS ................. H. B. Allfree . . . . L. A. A ndrew .............. W. A. Williamson . . .FARMERS NATIONAL ......... L. D. Goodrich . . T. F. Brown ............... T. B. Stair ..................FIRST NATIONAL ..................... F M. Byrkit ___ A. C Hinchman ......... F. J . B ro d b y ................STATE BANK ............................. R. R. Smith ___ S. I. Gillespie ............ L. M. S m ith ................LYON CO. NATIONAL ......... .. 0. P. Miller . . . . M„ A. C o x .......................FIRST NATIONAL ................... E. A. Richards . . J . H. B r a d t ................ F. P. Huff . . . .........

CAP.

25.00010.00060.00025.00040.00025.00035.00010.00010.00025.000

1 0 0 ,0 0 027,50015.00060.00075.00050.00010.00020.00040.00025.00050.00025.00025.00075.00025.00010.00025.000

100.00050.00040.00050.00060.000

100.000150.000

25.00050.00035.00015.00060.00010.0001 5.00030.00025.000

100.000100.00030.00025.00050.00025.00025.00050.00075.000

20.00050.00025.00060.00026.00025.00020.00050.00050.000

100.000100.000

10.000100.000115.00050.00025.00050.00025.00025.00025.00010.00060.000

1 00.00050.00075.00050.000

DEP.

115.000

650.00060.000

250.000100.000100.000184.00080,500

114,776I,®41,545

115.000 500,00c

350.00015 0 .0 0 0

165.00060.000

165.00090.000

280.000 80,89290.000

565.000225.000100.000

30 0 .0 0 0600.000

2.300.00075.000

3 20 .0 0 0400 .000*55,00080.000

340.00055.000

300.00016 4 .0 0 0818.000

1.460.000125.000200 .0 0 0250.000

325.000400.000

228.000240.000180.000280.000203,500

90,000100.000

450.000750.000240.000900.000900.000

300.000115.000140.000 210,37060,000

200.000 540 000135.000325.000200.000



Ruined by a “Sure Thing”(Orison Swett Marden, in “ Success Magazine.” )

A “ sure thing,” an “ inside tip,” has ruined more men than almost anything else. A splendid man committed suicide in New York not long ago because he lost everything on an “ inside tip,” for which he drew sixteen thousand dollars from the savings banks—every dollar he had in the world.

It had taken him many years of careful economy and self- sacrifice to accumulate his little fortune; but it was all lost in one foolish investment.

He thought he was going to make a big fortune; but, instead of that, the stock he bought went down, his margins were completely wiped out, and he found himself penniless.

The recent financial panic brought to light many good illustrations of the possibility of being ruined by a “ sure thing.” Scores of people who went down, lost their money on what they were led to believe were perfectly solid investments that were “ sure to win.”

Thousands of clerks, and many other people, with their small savings, like a flock of sheep, followed the inside tip of some financier who is believed to know what is going to happen, and were ruined. The truth is, even the most levelheaded business men and the most astute financiers do not know what is going to happen, as is shown by the fact that many of them were caught and seriously crippled in the late panic.

There are vast multitudes of people living in this country

Capital $100,000 Surplus $50,000

MERCHANTS NATIONAL BANK

' § 9SIOUX CITY, IOWA

•diili: OFFICERSpSpp jt E. W. RICE, President E. B. SPALDING, Vice-President

GEO. P DAY, Cashier G. N. SWAN, Asst. Cashier

today in poverty, many of them homeless and even without the ordinary necessities, not to speak of the comforts, of life, just because they could not resist the temptation to gamble, to risk enough to make them comfortable in some get-rich- quick scheme, which they were told was a “ sure thing.”

Program for Meeting of Group Four I. B. A., to be Held at Dubuque, Iowa, May 6

Group called to order by chairman. Roll call and registration.

“ Welcome to Dubuque,” C. H. Eighm ey president F irst National Bank, Dubuque.

Short talks by representative bankers of this Group.“ In View of the Situation Last Fall, Should Country Banks

Keep a Larger Portion of Their Reserve in Cash?” B. F. Thomas, president State Bank of Lansing.

“ Advertising—Wise and Otherwise,” W. H. Tillson, assist ant cashier Cresco Union Savings Bank, Cresco.

“An Em ergency Circulation for the Country Banker,” C. A. Larson, cashier F irst National Bank, New Hampton.

“ The Time Lock Department,” E. J . Curtin, president Citizens Savings Bank, Decorah.

Dinner.

A fternoon Session—1:30 P. M.“ Should Deposits be Guaranteed?” J . M. Pollard, cashier,

Strawberry Point State Bank.“ Short Talk,” M. F. LeRoy, president F irst National Bank,

Manchester.“ System in Country Banks,” C. R. Carpenter, cashier State

Bank of Fayette.“ Short Talk,” J . K. Deming, president Second National

Bank, Dubuque.Experience meeting.Election of Group officers.Carriage drive at 3:30 o’clock p. m.Banquet at 7:30 o’clock p. m.

Directory of Representative Iowa Banks (continued).TOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER CAP. DEP.

Rockwell.......... ROCKWELL B A N K .................STA TE SAVINGS ..................SCHALLER SAVINGS ............

G, H. Felthous . W. D. McEwen . . Robert B ru c e ..............

F. C. S iegfried ............James B ru c e ..............

25.00075.00025.00040.00015.000

95.000160.000125.000155.00090.000

F. S. Needham . . C. W. Brimhall ........ A. J . Martin ............STATE BANK ........................... W. J . Howard . . . .

L. B. Carhart . . .C. A. E d so n ............................J . E. Edson ................

Sheffield............ SHEFFIELD B A N K ................. H. L .C a rh a rt...........SHELDON NATIONAL .......... Jas. F. T o y ----

H. I. Foskett . . . .W. H. M y e r s ............A. W. M urph y..........

P. W. H a l l .................. 50.00050.000

275.000300.000Shenandoah.. . . COMMERIAL NATIONAL .. J . F. Lake ................

Shenadoah . . . FIRST NATIONAL .................. T. H. Read .......... Elbert A. Read . . . . 130,00075.00050.000

700.000200.000140.000

FIRST NATIONAL ................. H. G. Brown . . . . Thos. K e l ly ................E. F. Landon..............

J . R. M ackey..............Silver Ci ty . . . . SILVER CITY ST A T E ............ C. G. Greenwood . W. B. O ak s'..............Spirit Lake. . . . FIRST NATIONAL ................. J . W. Cravens . . . 0. S. Jones ............... C. E. N a r e y .............. 50,000 230,000Spirit L a k e ... SPIRIT LA K E NAT’L ............ Marcus Snyder . . . A. W. Osborne.......... L. Sperbeck ............... 50,000 287,642

STACYVILLE BANK ............ R. C. Lubiens . . . Avery B ru s h .............. Kennedy Scott .......... 10,000State Center.. BANK OF STA TE CENTER. W. N. Gilbert . . . P. W. C o e ................. O. F. E cklu n d ............ 30,000St. Charles... . J . F. JOHNSTON'S BANK . . . J . F. Johnston . . W. A. Barnes .......... H. A. Mueller .......... 50,000 110,000Steamboat Rock FARM ERS EXCHANGE ........ D. W. Turner . . . H. H. T u rn e r ............ 20,000 108,240Storm L a k e ... Strawberry Pt..

CITIZENS BANK ...................STRAW BERRY PT. S T A T E .. EXCHANGE BANK ..................

Fred Schaller ___Chas. R o b erts___J . E. Savage . . . . J. W. Foster ___Gardner Cowles . C A. Barnes . . . .

T. D unning................J . R. Smull, J r ............

Geo. J . S ch a ller........J . M. Pollard ............Geo. B. Irick ............

50.00025.00025.00025.00025.00050.000

400,000200,000

FIRST NATIONAL .................. A. C. Curtis ............. J. F. Blackman ___A. T. Wherry ........C. L. Hall ................

200,000Swea C i t y ---- FIRST NATIONAL ..................

STA TE BANK ..........................E. J . Murtagh ..........W W Mickelwait .

85,000133.000275.000Tam a................ COMMERCIAL SAVINGS . . . . G. H. Austin ___ F. W. Brokhausen . . . D. E. Goodell............

TINGLEY STATE SAV............ H. R. Boyd ........W. C. W alters___

J . J . Baxter ............I. E. T y le r .................C. T. H ansen..............

A. R. Hass ................ 20.00050.000

85.00080.000TOLEDO SAVINGS ................. E. C. H a ls e y ..............

Turin.................. TURIN BANK ......................... W. T. Day . . . . J . H. P e te r s ..............BANK OF VAN W ERT ........ W. F. Blair ___ Lester Gould ............ E. 0 . Stearns ............. 10.000

25.00050.00025.000

90,000475.000335.000

FARM ERS S A V IN G S .............. H. C. Phelps . . . .John Young ..........A. H e r r ig ...........

Levi Lewis ................ H. L. M ussetter........PEOPLES SAVINGS .............. John Lorenz ................ A. B. Allen ...............

Wall L a k e .. . . GERMAN B A N K ...................... C. M. H e rrig ..............Ware.................. BANK OF W ARE .................. J. H. A lle n .......... R. G. Cundy .............. 25,000 65,000Waucoma.......... BANK OF WAUCOMA ..........

BANK OF W AUKEE ............W. H. Stone . . . . S. M. Leach . . . . Chas. R. Brenton . . . .

Leo C. S to n e ..............S. F. Foft .................

10,000140.000550.000W averly............ STATE BANK OF W AVERLY Geo. P. Ellis . . . G. A. Grossm an........ Louis Case ............... 50,000

West Branch.. CITIZENS S A V IN G S .............. 0 . C. Pennock . . . . L. J . L e e c h ................ P. V. N. M y e rs .......... 20.00050.000

95,000West Branch.. W EST BRANCH STATE . . . . Tno. P earson ___ J. L. Crozer............... J. F. Adair ............... 175.000West L iberty .. IOWA S T A T E ........................... I. A. N ichols___ C. M. Nichols ............ Irwin A ik in s .............. 40,000 282,282Wilton Junction UNION SAVINGS ................... A. R. Leith . . . . D. G. A g n e w ............ W. D. Harris ............ 40,000 425,000Woodward........ WOODWARD S T A T E ............. S. 0 . C onger---- Joseph S to rm ............ H. S. T a y lo r .............. 35,oooZearing............. STATE SAVINGS .................. A. H. Grimm ---- J . S. H o rs t ............... J . S. S m it h ............... 25,000 75,000


THE NAUMAN CO.420-428 Cedar St

W A TERLO O , IOW A

Manufacturers of

BANK FIXTURESCatalogues Free

PLANS AND E S TIM A TE S FU R N IS H E D

Directory of Representative Nebraska BanksTOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER CAP. DEP.

W. H. H a rm ........ H. J . Miller .............. P. A. Tulleys .......... 50,000 225,000J . T. McKnight .. Henry Schulz .......... A. K. Smith .............. 30,000 207,500J W. Wehn ........ Mark Spanogle ........ 10,000 80,000R. C. Miller ........ John Yont ........ ........ E. C. Yont ................ 10,000 90,000C. C. Hansen . . . . Thos. Blanchard . . . . L. C. Madsen .......... 10,000 35,000J. C. Martin ........ E. D. Martin ............ E. J . Martin ............ 12,000 101,663H. A. Cheney . . . . James G. Kruse . . . . G. W. Klockenteger. . 25,000 225,000Geo. N. Seymour M. S. Huffman ........ Wm. H. Campbell .. 25,000 300,000Fred Whittemore J. A. Aspegren ........ V. F. Hofmann ........ 15,000 135,000H. Gilsdorf .......... J. 0. Riley .............. Ja y M. Riley ............ 25,000 85,000Peter Reimers . . . G. E. Bredenberg .. H. H. Ostenberg . . . . 12,500 180,000Alex. Thom ........ T. J . Kastle .............. Thos. H. Fowler ___ 25,000 260,000H. Welpton ........ J W. Welpton .......... 15,000 150,000J. B. McGrew . . . R. V. McGrew .......... N. R. Morrow .......... 10,000 60,000S. E. Spearman .. C. K. Spearman . . . . C. F. Calhoun .......... 15,000 145,000D. M. Boatsman .. Wm. Freeburn ........ John Boatsman ___ 60,000 100,000Geo. L. Smith. . . . W. R. Brown ............ Floyd Seybolt . . .Phil Mitchell . . . . E. W. Hurst ............ T. A. A nthony..........W. L. Mote.......... M. Sorenson................ 20,000 160,000

Bloomfield . Brainard . . . Bridgeport .Brock ..........Cotesfield . . ,Craig ..........Creighton . .Elgin ..........Havelock . . , Lawrence . . ,M alm o........North BendOgallala ___Riverton . . . Springfield . Sterling Ulysses . . . .Wausa ........

Plainview .. . .

FARM ERS & MER. STATE.BANK OF BRAINARD..........BRIDGEPORT B A N K ..............BANK OF BROCK ................FIRST STATE BANK ........FARM ERS STATE ..............SECURITY BANK ................ELGIN STATE ........................FARM ERS & MECHANICS.FIRST NATIONAL ................FARM ERS & MERCHANTS.NAT’L BANK OF N. B ..........EXCHANGE BANK ..............RIVERTON STATE ..............J . D. SPEARMAN & CO. . . . FARM ERS & MERCHANTS. FARM ERS & MERCHANTS.FARM ERS STATE ..............BANK OF PLA IN VIEW ........

Directory of Representative Minnesota BanksTOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER CAP. DEP.

Brainard ........ FIRST NATIONAL ................ G. D. La Bar . . . . G. W. Holland .......... F. A. Farrar 50 .0 0 030 .0 0 07 5 .000

50 0 000

800.000 26 9 ,0 798 20 .000

6 ,000,000

Browns Valley Crookston . . . .

BROWN’S VA LLEY ST A T E .. FIRST NATIONAL ................

Peter Nelson . . . . J . W. Wheeler . . . H. M. Peyton . . . .

Wm. Anglin ............C. A. Congdon ..........

A. I. Engebretson . . C F Mix

Duluth ............ AMERICAN EXCHANGE . . . . W. G. Hegardt ........Ellendale. . . . . . Ellsworth ........

SECURITY STATE BANK . .. GERMAN STATE ....................

GEO. E. Sloan . .. E. A. Brown ........

L. Peavey....................P Hickman ............

W. E. Galloway........ 10 .0 0 015 .0 0 020 .0 0 04 0 .0002 5 .0 0 0 I5,00f20 .0 0 025 .0 0 010 .0 0 0

8 5 .000 12 1 ,8 7 812 0 .0 0 0470 .0 0 0

90.0008 5 .0 0 0

16 0 .0 0 015 0 .0 0 0

3 5 .0 0 0

Hector ............ FARM ERS & MER. ST A T E .. A. E. Schroeder . . W B S tr o m ............ S. W. Anderson . . . . P. P. Pendergast . . . .Hutchinson . . .

Teffers ..............CITIZENS BANK ....................STATE BANK OF J ................STATE BANK ......................

Wm. E. Harrington F. E. Duroe ........

H. H. A m es................E. M. Duroe ..............

Mora ................ C E. Williams .. Andrew Larson ........ F. W. Waterman . . .Olivia .............. PEOPLES BANK ...................... C. A. Heins .......... W. H. H ein s..............Pelican Rapids. Swanville . . . .

FIRST NAT’L BANK .............. 0. M. Carr.......... C. D Haugen............ M T WeikleFIRST STATE .......................... Wm. Siems .......... B. M. Sieans .............. Olga Siems ................

Directory of Representative South Dakota BanksTOWN NAME OF BANK PRESIDENT VICE PRES. CASHIER CAP.

ARDMORE STATE ................ F. L. Hall .................. 5 ,0 0 02 5 ,0 0 0Belle Fourche BUTTE CO. BANK .................. John Clay ..........

Thos. H. Gay . . . . Jno. Scanlan . . . .

J . I. Craig ................ W B PenfoldFIRST NAT’L BANK .............. Wm. Fried ..............

Bradley ........ • STATE BANK OF B ................ E. J . Scanlan ............ Frank D u d ley ............ 10 ,0 0 0Bradley.............. PEOPLES STATE BANK . . . . H. I. Olston.......... H. J. Setbacken........ E. A. Schullian.......... 10 ,0 0 0Crocker .......... CROCKER STATE .................. S. A. Schneider . . S. 0. P illsb u ry .......... L. 0. Pillsbury ........ 5 ,0 0 0Custer City . . . Hill City '........

CUSTER CO. B A N K ................ S. H. Mills .......... D. W. Webster ........ T W. Delicate 25 ,0 0 0HILL CITY B A N K .................... C. E. McEachron. P. Burns ....................

Madison .......... LAKE CO. B A N K ...................... John Wadden . . . C. L. M illett..........

John W. Wadden . . . J . C. R u sse ll..............

G. E Cochrane ........ 25 .0 0 015 .0 0 0Midland............ BANK OF MIDLAND .............. M. C. Sherwood........

Rapid City . . . Scotland ..........

PENNINGTON CO. BANK. . . S. H. Mills .......... Corbin Morse ............ G. F. Schneider ........ 50 .0 0 015 .0 0 0

5 .00010 .0 0 0

BON HOMME CO. B A N K ........ H. A. Kaeppler . A Dixon ............

R. P Loomis ............ W S B r a n t ..............Seneca................ STATE B A N K ............................ E. J . Dixon .............. Jno. A Dixon . .Su m m it............ SUMMIT B a NK 0. P. Brustuen .. Paul Hanson ............ C. H. Lien ................Sturgis..............MEADE COUNTY B A N K ..........D. A. McPherson. H. 0. Anderson. . . . . . H. E. Perkins............... 50 ,0 0 0

DEP.

36,77350 0 .0 0 0300 .0 0 0

70 .0 0 040 .00015 .0 0 0

14 0 .0 0 010 0 .0 0 0 3 x0,00010 4 .0 0 0 889,612510 0 .0 0 0

80 .0001 1 5 .0 0 06 75 .0 0 0



Reliable Real Estate Dealers Of IowaALBIA—Ramsay Realty Co.

( Incorporated 1806.) (Castner and Canning.) Only complete set of Abstract Books in the county. Farm Loans. Investm ents. Bonds. Insurance. W rite us for anything in our line.

ANITA—Conway & Carey.We do a general Real E state and Exchange

business of all k in d s ; write or call us over either phone.

ATLANTIC—John W. BlakeDoes a general Real E state business. Some

choice bargains in Cass and Adair county farms.

BOONE— W. H. NelsonReal E state and Insurance.723 Story Street.

CRESTON—Burkheimer Land Co.Specialty, Iowa Farm Lands. A lso City

Property. H ave some Special Bargains in Colorado Lands, at from $8.00 to $10.00 per acre, ju st ahead of Sure Irrigation. Write Us.

COUNCIL BLU FFS—H. W Binder & Co.A general Real E state business transacted.

DES MOINES—Wm MontgomeryReal E state. Office 214 Clapp Block for 25

years. Farm s and City Property. Iowa phones.

DES MOINES—Kinkead & Fesler18-20 News Arcade. We do a General Real

E state Business— Iowa and Dakota Farm s. References— M echanics Savings Bank, Des M oines, Marion Co. Ntl. Bank, K noxville, la .

DES MOINES—The McClure Co.310 5th St. Farm s. Investm ents. Care of

non-residents’ property.

DES MOINES—Mack Olsen Co.Des Moines city property exclusively. Spe

cial attention to the handling of the property of non-residents. Reference, any bank in Des Moines. Suite 15-16-17, News Arcade Bldg.

DES MOINES—F. A. Rollins204 K. P. Block. I make a specialty of rent

ing and selling for non-residents. Taxes, Insurance and Collections prom ptly attended lo. Reference— Des Moines N ational Bank.

DEXTER—The J . H. Todd Land Co.We do a general Land and Real E state busi

ness both in Iowa and Dakota. Reference, Dexter Banks.

DES MOINES—Joshua Jester & SonsInvestm ent Brokers and General Real E s

tate. Care of property for non-residents a specialty. References— any Des Moines Bank. 204-212 Capital City State Bank Bldg., E. Side.

DENISON—G. W. NicholsonTransacts a general Real E state business. Real E state and Exchange.

DUBUQUE—Jas. A. HayesNorth 'and South Dakota and Neb. lands and Stocks, Bonds and Real E state Bought and sold. Security Building

EARLHAM—S. W HenkleW e do a general Real Sstate business. A

Square Deal for all. Reference, C itizens State Bank.

ESTH ERVILLE—C. D. OsgoodW rite m e for choice bargains in rich

Em m et Co. land. I have som e land that w ill double In price shortly. W. E. Turner, Utica, 111., and W. H. Hodge, Carroll, la ., Travelling Agts.________________ _____________

FORT DODGE—Oleson Land Co.All kinds of real estate bought and sold on

commission.M. J. H alre, M anager,

_____________________ Fort Dodge, Iowa.

FOREST CITY—0. A. OlsonA general real estate bu sin ess transacted.

Some choice bargains in W innebago and Hancock County, Iowa, lands.

GRINNELL—A. J . BreedenReal E state Agent.Cor. Fourth Ave. and Main St.

HAW ARDEN—John SmithRare bargains in W estern Lands. Lands,

Farm s and Ranches everywhere. Correspondence solicited.

HEDRICK—C. L. Dean & Bro.Iowa Farm s for sa le or exchange. W e uave

a large lis t of farm s in Mahaska, W apello, Jefferson and Keokuk counties. Send for list.

HUMBOLDT—Stanbra & BrownReal E state and Exchange. “W e move

the d ir t.” Try Us!R eferences: (Hum boldt State Bank

(People’s State Bank (F irst N ational Bank

JEFFERSO N —J. E. DodgeReal E state and Exchange. Agent for Iowa

and South Dakota lands. Farm s in S. E. K ansas to exchange for Iowa land. W estern ir rigated lands for sale. Telephone No. 167.

LOGAN—Almor SternFarm Loans, Real Estate

Abstracts of T itleF irst M ortgage Farm Loans for sale.

H arrison County.

MALVERN, IA.—Cadwell & Salyers A general Real E state Broker’s Office.

Loans placed and for sale. References, F irst N ational, Malvern N ational and Bank of Malvern.

MASON CITY—P. C. Church, B. A. Gale.Lawyer— Collections— Real Estate.Special attention to property in th is city

and Cerro Gordo County owned by nonresidents.

RED OAK—0. E. SchoonoverTen excursions per year to W estern Can

ada. $20.00 round trip. Tame grass lands, producing 40 bushels. W heat our specialty also Iow a, Nebraska, D akota and Colorad o land

MISSOURI V A LLEY—Martin & StoutW e have a large lis t of choice Iowa

Farm s for sale, some geneuine bargains. W rite us for our large list.

SAC CITY—Geo. A. TaylorReal E state Dealer

Sac County, Iowa, Farms, Acreages and Residence Property

SIOUX RAPIDS—A. L. FreeloveLand in Buena V ista, Clay and Dickinson

Counties.

SPENCER—L. Becket & Son, Land Agents. Do you w ant to put your m oney where

'it is absolutely safe? If so in vest in Olay County, Iowa, land. W rite for list.

STORM LA KE—I. N. Hill Land Co.Real E state— good lis t of Farm s in th is

vicin ity. 32 ,000 acres in Eastern Montana @ $8 to $15 per acre. Local agents wanted. Reference: C itizens’ Bank.

WOODBINE—Love & GrimesIowa farm s and farm loans. Conserva

tiv e appraisements.

THE DETROIT C O IN W RAPPER A. Burdick, Pres. Joe R. Lane, Vice Pres. John P. Van Patten, Vice PresLew J. Yaggy, Cashier W ill J. Housman, Ass’t Cashier

M illions are used annually by Banks, Trust Companies, Railroads, Etc. Made to hold all s ilver coins, nickels, pennies, etc., in am ounts from 25 cents up to $20.00. Samples, price l is t and descriptive circular free. We also make coin bags in tw enty sizes and special sizes to order. W rite the

DETROIT COIN W RAPPER CO.1 8 John R St. D etroit, M ich

F IR S T N A TIO N A L BANKOF DAVENPORT, IOWA.

C a p ita l $ 2 0 0 ,0 0 0 . S u rp lu s a n d U nd iv ided P ro fits $ 1 7 0 , 0 0 0Send us your Davenport business.

The first National Bank i 1 operation in the United States.

Chas. Hathaway & CompanyCOMMERCIAL PAPER

Public Auditor :: AccountantC. A. MAST

Correspondence Inviled. 205 LA SALLE ST., CHICAGO R EFER EN C E: B A N K S IN D A V E N P O R T Davenport, Iowa


April, 1908 T H E N O R T H W E S T E R N B A N K E R 55

REPRESENTATIVE IOWA BANKSThese Banks have special facilities for handling collections and any other business entrusted to them

BATTLE CREEK—Battle Creek Sav. Bk.Capital, $25,000. Undivided Profits, $24,644.66.

Deposits, $211,467.61.Alex McHugh, Pres., J. L. R iedesel, V -Pris.

D.H .H edrick, Cash., J.F .C hristiansen, Jr.A.C.

GREENE—First State Bank.Capital, $50,000. Surplus, $84,616. U ndivid

ed Profits, $9,315. Deposits, $285,000.O. C. Perrin, Pres., M. J. Perrin, Vice-

Pres., T. L. Stober, Cashier.

BAXTER—State Savings Bank.Capital, $30,000. Surplus, $2,400. Undivided

Profits, $2,200. D eposits, $230,000.Fred Hager, Pres., H. A. Geise, V -Pres.,

Chas. Burdick, Cash., J. E. Holm es, A ss’t C.

HAMBURG—Farmers National Bank.Capital, $50,000. Surplus, $5,500. Undivided

Profits, $11,000. Deposits, $425,000.A. Hydinger, Pres., G. M. Beai, V ice-Pres.,

B. D. Butterfield, Cash., B. G. Franklin, A. C.BOONE—Boone National Bank.

Capital, $100,000. Surplus, $25,000. Undivided Profits $10,000 D eposits $650,000 E. E. Hughes, Pres., John Cooper, V -Pres.,

T. L. Ashford, Cash., A. M. Burnside, A. C.

INDEPENDENCE—Com. State Bank.Capital, $100,000. Surplus, $20,000. U ndi

vided Profits, $29,845. Deposits, $343,818.O. M. Gillett, Pres., A. G. Sihellito, Y. P.,

C. E. Purdy, Cashier.B ELLE PLAIN E—First Nat’l Bank.

Capital, $60,000. Surplus, $40,000. UndividedProfits $10,000 D eposits $340,003

S. S. Sweet, Pres., F. E. Zalisky, V ice-Pres.,G. R. Ahrens, Cash., W. A. M all, A ss’t Cash

INDEPENDENCE—First National Bank.Capital, $100,000. Surplus, $80,000. Undivid

ed Profits, $30,000. Deposits, $785,000.W. G. Donnon, Pres., R. M. Campbell, V .P .,

R. B. Raines, Cash., W. G. Stevenson, A.Cash.

CHEROKEE—First National Bank.Capital, *o0,000. Surplus. $35,000. Undivi d

Profits, $7,000. Deposits, $700,000.N. T. Burroughs, P., W. A. Sanford, V .-P .,

R. H. Scribner, Cash., C. Sullivan, A ss’t C.

KLEMME—State Savings Bank.Capital, $15,000. Surplus, $4,000. Undivided

Profits, $2,500. D eposits, $110,000.W .R. Bloom, P., D. D. Ross, Wm. Katter,

V. P .’s., P. M. Griesemer, C., F. J. Wench, A.

DECORAH—Winneshiek Co. State Bank.Capital, $100,000. Surplus, $25,000. U ndi

vided Profits, $25,000. Deposits, $960,000.C. J. W eiser, Pres., E. W. D. Holway, V.

P., R. Algyer, Cashier, A. Ankinson, Teller.

LE MARS—First National Bank.P. F. D alton, Pres., G. L. W ernli, V -P res.,

E. A. Dalton, Cashier, J. A. Hoffmann, A. C.Chpital, $100,000. Surplus, $20,000. Undivided

Profits, $8,000. D eposits, $1,085,000.

ELDORA—firs t National Bank.Capital, $50,000. Surplus and Profits, $40,060.

J. H. Bales, Pres., W. J. Mundy, Vice- Pras., W. E. Rathbone, Cash., A. W. Cros- san, A. Cashier. U. S. Depositary.

MASON CITY—First National Bank.Capital, $io0,000. Surplus, $150,000. Deposits,

$1,800,000.C. H. McNider, Pres., W. G. C. Bagley, C.

A. Parker, A ss’t Cashiers.

FOREST CITY—Forest City Nat’l Bank.Capital and Surplus, $65,000.G. S. Gilbertson, Pres., W. O. Hanson, V .P ,

C. H. K elley, V ice-Pres., C. A. Isaacs, Cashier, M. J. Johnson, A ss’t Cashier.

MILFORD—First National Bank.Capital, $35,000. Surplus, $7,000. Undivided

Profits, $5,000. D eposits, $125,000.P. Rasm ussen, Pres., C. Forstenson, V. P.,

C. F. Mauss, Cash., V. D. Flem m ing, A. Cash.

MONTICELLO—The Monticello State Bk.Capital, $100,000. Surplus and Profits,

$150,000. Deposits, $1,348,000.S. S. Farw ell, Pres., Wm. Stuhler, V -P res ,

H. M. Carpenter, C., H. S. Richardson, A. C.

MARSHALLTOWN-Marshalltown State Bk.Capital, $100,000. Surplus and Profits,

$50,000. D eposits, $750,000.A. P. Balch, Pres., G. A. Turner, V -Pres.,

P. S. Balch, Cash., C. C. Trine, A ss’t Cam .

OSKALOOSA—Oskaloosa National Bank.Capital, $100,000. Surplus, $50,000. D e p o s

its, $700,000.W. H. Kalbach, Pres., H. L. Spencer, V ice-

Pres., C. E. Lafland, Cash.

SHENANDOAH—Shenandoah Nat’l Bank.Capital, $100,000. Surplus, $60,000. Depos

its, $375,000.George Bogart, Pres., E. H. M itchell, V -P .,

R. M. Gwynn, Cash., F. M. Schneider, A. C.

SIOUX CITY—Live Stock National Bank.Located at Sioux City Stock Tarda. Capital, $100,000. Surplus, $75,000.Geo. S. Parker, Pres., F. L. Eaton, V ice-P.,

Melvin E. Bauer, Cash., W. P. D ickey, A. C.

VICTOR—Farmers Savings Bank.Capital, $25,000. Surplus, $15,000. Undivided

Profits, $3,500. D eposits, $400,000.H. C. Phelps, Pres., Levi Lewis, Vice-Prea.,

H. L. M ussetter, C., F lorence M ussetter, A. C.

W ESLEY—Security Bank.Capital, $30,000. Surplus, $7,900. Undivided

Profits, $1,346. D eposits, $159,825.Rodney H ill, Pres., Geo. B. H all, Cashier,

Louis B. Rasm ussen, A ss’t Cashier.

GRINNELL—Lyman & LymanAttorneys at Law.

The Denver and Colorado S E C U R ITIE S COM PANYCapita! $200,000.009 2 3 , 17th St. . . . Denver, Colorado

WE SELL BANKSWRITE FOR LIST

R eferences, Dun or Bradstreet.

Security National, Minneapolis, Raises the Dividend Rate

The Security National Bank increased its dividend rate from 8 to 12 per cent 011 April 1. The last

T H E

City National BankOF CL INTO N , IOWA

Capital, Surplus and Profits ............ .. .$2 0 0 ,0 0 0 .0 0Deposits .................................................. .$1,800,000.00

OFFIERS:A. G. Sm ith, President G. M . Curtis, Vice-President

A. C. S m ith , ashier

Accounts of Banks and Bankers received on mostfavorable terms. Correspondence Invited.

previous quarterly dividend was at the rate of 8 per cent, with an additional special dividend of 2 per cent. The Security is the first to reach the 12 per cent dividend in Minneapolis. In January the directors raised the surplus fund to $1,000,000, making it the same as the capital. The surplus and undivided profits are now $1,181,000 in the aggregate.


*The Fidelity 6 Casualty Company97 to 103 Cedar Street, NEW YORK CITY

Assets ................................................ • ........................................................................... $ 7,537>429-9iCapital and Surplus ................................................................................................... 2 ,0 1 3 ,4 0 0 .24

Losses paid to January 1 , 1 9 0 8 ............................................................................... 26 ,6 2 9 ,1 3 1 .9 0

This Company grants insurance as follows: Bonds of Suretyship for persons inpositions of trust, Fidelity Bonds, Burglary, Plate Glass, Steam Boiler, Fly Wheel, Employers, Public, Teams, Workmen’s Collective, Elevator and General Liability, Personal Accident, Health, Physicians Liabilty and Bonded Attorneys’ List.

OFFICERS:

George F. Seward, PresidentFrank E. Law, 2 nd Asst. Sec. George W. Allen, 3rd Asst. Sec.Robert J . Hillas, V. Pres. & Sec. Henry Crossley, Asst. Sec.

D IR E C T O R S:W illia m P. D ix o n , D ix o n & H o lm es A lfred M. H o y t, B an k er A u re liu s B . H u ll, R e tire d M erch an tG eo. E- Id e , Pres. H o m e E ife Ins. Co. W m . G. X,ow, C oun selor-a t-law Joh n G. M cC u llough , E r ie R a ilroad Co.W illia m J M a th eso n , M erch an t H en ry E . P ierre p o n t, R etired A n ton A. R aven , A tla n tic M u tu a l In s .Co.Joh n X ,. R ik er , o f J. E. an d D. S. R ik er W. E m le n R o o se v e lt , B an k er D u m o n t C lark, Pres. A m erican E x c h a n g e N a t io n a l Bank

A lex a n d er E- O rr, R etired M erch a n t G eorge F. S ew a rd , P r es id en t

Did You Ever Try to Write an "A d ," Mr. Banker?

W H A T D ID Y O U S A Y T O P R O S P E C T I V E D E P O S IT O R S ?

Probably that you paid 3% or 4 % interest on savings deposits; that your bank was safe and conservative; and that every man, woman and child ought to save.

And all of the other 38,000 banks in the United States were telling the people the same thing at the same time.

Why don t you get something that will give you a novel, ellective, distinctive “talking point, something that will give your bank individuality?

THE MOORE BANK MONEY ORDER (patented) will meet your need in this respect. It is a New York Draft, a bank check, a money order, a certified check, a traveler s check, a savings certi ficate, an interest-bearing certificate of deposit— all in one instrument.

If you get it you can write an “ad that is an “ad — and at the same time save money for your bank in the interest payments and the cost of book-keeping.

The Depositors Savings and Trust Co. of Cleveland, Ohio, increased its deposits by $200,000 after using the certificate eight months.

The Bangor Trust Co. of Bangor, Pa., used the certificate two weeks and got 20 0 new depositors and $10,000 in money.

WRITE TODAY AND GET THE EXCLUSIVE USE OF THE MOORE BANK MONEY ORDER IN YOUR CITY

410 SUPERIOR BLDG. T H E M O O R E B A N K M O N E Y O R D E R C O ., Cl e v e l a n d , o m o


The Northwestern Banker: May 1908, Thirteenth Year, Number 5

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Transcript of The Northwestern Banker: May 1908, Thirteenth Year, Number 5