13
THE CHICAGO BANKER
July 25, 1908]
William A. Tilden President
Nelson N. Lampert Vice Prest.
Henry R. Kent Cashier
Charles Fernald Asst. Cashier
Colin S. Campbell Asst. Cashier
MONROE AND CLARK STREETS
C H I C A G О
Capital, $1,000,000 Surplus and Profits, $400,000
Your Business Solicited
THE
LIBERTY NATIONAL BANK
OF NEW YORK
FREDERICK B. SCHENCK, President
CHARLES W. RIECKS
20 Vice-president
AND CASHIER
HENRY S. BARTOW
Ass'T Cashier
HENRY P. DAVISON, Chairman Executive Committee
CAPITAL, SURPLUS AND UNDIVIDED PROFITS
S 3,400,000.00
Savannah, Seattle, Waco, Washington, Wichita,” which as you will observe satisfactorily covers our entire country territorially and otherwise.
The drawees of the orders must be in central reserve cities.
By having־ all of the clearing house banks in the reserve cities act as redemption agents, it should not increase the number of items going through any of these banks in the slightest degree, but should result in replacing a large portion of the items received by them, such as express money orders and postal orders, with the money orders of the association.
Money orders can only be presented to these clearing house banks through the regular channels, so the volume or nature of business will not be affected by their use.
The idea is to make them current at par in all reserve cities by the special permission of all the banks forming the clearing house associations, and also at many other points by (Continued on page 25)
The trust feature of the enterprise will be in the hands of the Bankers Trust Company also of New Lork City, a company eminently fitted by capital and management to act for us in that capacity.
We are expecting to have this business handled at a very small cost, probably not to exceed one one-hundredth of one per cent.
Points of redemption are to our minds a most important consideration.
By the action of the clearing house section we were authorized to have printed on the back of the orders “This order will be cashed at par by any clearing house bank in any of the following cities:	Albany, Baltimore, Boston,
Brooklyn, Cedar Rapids, Chicago, Cincinnati, Cleveland, Columbus, Dallas, Denver, Des Moines, Dubuque, Fort Wayne, Galveston, Houston, Indianapolis, Kansas City, Mo., Kansas City, Kan., Lincoln, Los Angeles, Louisville, Milwaukee, Minneapolis, New Orleans, New York, Philadelphia, Pittsburgh, Portland, Ore., St. Joseph, St. Louis, St. Paul, Salt Lake City, San Antonio, San Francisco,
have a stable value which precludes the necessity of giving the subject a thought.
׳]"hey must have various redemption points so they will be current at par over as large territory as possible. They must be provided with some means to check up outstanding orders so the amount of liability for orders outstanding can always be determined.
The necessity for uniformity in size, shape, color, and general make up, is self-evident.
The guarantee in the vast majority of cases is not a necessity, the orders would be as good without it as with it, yet this feature will be appreciated by all banks when paying orders of banks with whose standing they are not familiar.
The American Surety Company of New York City, which has undertaken the guarantee feature of our constructive policy, has in addition to its five millions of capital and surplus, a reputation for conservative and careful management which makes it the ideal company for such a purpose in connection with the great American Bankers Association.
Report to the Comptroller of the Currency
(Condensed Statement)
The
Northwestern National Bank
MINNEAPOLIS, MINN.
At Close of Business, July 15, 1908
Resources
Loans and Discounts U. S. and other bonds .
Banking House ....
Overdrafts .........
Cash, and due from Banks
Liabilities
Capital........................
Surplus
Undivided Profits ....
Circulation ...................
Bond Account .... Deposits.......................
Officers
WM. H. DUNWOODY, President	FRANK E. HOLTON, Cashier
M. B. KOON, Vice-President	C. VV. FARWELL, Assistant Cashier
E. W. DECKER, Vice-President	W. F. McLANE, Assistant Cashier
JOSEPH CHAPMAN, Jr., Vice-Prest. R. E. MACGREGOR, Assistant Cashier A. A. CRANE, Vice-President	S. S. COOK, Assistant Cashier
I. F. COTTON, Assistant Cashier
$15,105,383.36
1.495,850.00
250.000.	00 2,129.67
7.352,542.36
$24,205,905.39
$ 2,000,000.00 2,000,000.00 35,408,79
800.000.	00 225,000.00
19.145,496.60
$24,205,905.39
€Ik Capital Rational Bank
St. Paul, Minnesota
Capital -	$500.000
surplus -	$100.000
DEPOSITS -$3.533,408
\7nited States *Depositary
OFFICERS
wOHN R. MITCHELL, President	WALTER F. MYERS, Vice President
WILLIAM B.GEERY.Vice President HARRY E. HALLENBECK, Cashier EDWARD H. MILLER. Asst. Cashier EDW. A. SCHROEDER, Asst. Cashier
Our Policy is to Grant Every Accommodation and Courtesy Consistent With Sound Banking Methods.	Your Business is Solicited