[ Volume XXV
THE CHICAGO BA NK E R
26
The Cedar Rapids National Bank
Cedar Rapids, Iowa
Solicits the accounts of all good banks and bankers within its territory, and will place at their disposal facilities gained through years of experience in handling that class of business, with terms as liberal as safe banking methods warrant.
O'RECr
United States Depositary Reserve Agent for National Banks
S. S. FARWELL, President HENRY M. CARPENTER, Cashier
The Monticello State Bank
Monticello, Iowa
Capital $100,000	Surplus $180,000
Resources over One and a Half Millions of Dollars. Established thirty-three years and has had conservative, steady growth. Makes and remits for collections promptly, and solicits accounts of banks and bankers.
Safety, Promptness, Courtesy and Confidence
THE
OTTUMWA NATIONAL BANK
OTTUMWA, IOWA
Capital, $100,000 Surplus, 75,000
Will render genuine service to all those having business in Ottumwa and vicinity.
J. B. MOWREY, L. E. STEVENS. R. W. FUNK, President	Cashier Ass’t Cashier
law, and secure an issue of 90 per cent of the new money, but the men in charge of Sioux City banks seem in no haste to do it• It is thought that very few banks in Iowa have up to this time received any noticeable amounts of the new currency.
Shenandoah Nationals
The reports of the three nationals at Shenandoah showed deposits of $1,480,936.20. It is divided with the First National, $775,268.16; Shenandoah National, $399,508.66; Commercial National, $315,159.38. These are the figures which President Reade was quoted as offering to bet $25 couldn’t be beaten by any town of the same size in Iowa. H. M. Carpenter, cashier of the Monticello State, was the first to accept the challenge. He addressed this open letter to a Des Moines paper: “My friend Mr. Reade is ‘on’ as the sporting fraternity would say. Enclosed find draft for my end of the $25. I am sure that Mr. Reade will make good for he is altogether too game to quit, and when he does you will find by consulting the sworn statements on file in State Auditor Carroll’s office that on May 14, 1908, there was on deposit in this bank $1,407,645.07, and in the Iowa State Bank the sum of $778,712.87, a total in the two banks of $2,186,357.89. This is $696,421.67 in excess of the amount mentioned in the clippings as on deposit in the Shenandoah banks. The latest authority at hand— Dun’s book of March, 1908—shows population of Shenandoah 4,242, Monticello 2,156. On July 15th, the date of the statement referred to in the papers, the deposits in this bank were $1,443,345-93, and we are confident that the deposits in the other bank here, the Lovell State, were very nearly, if not quite $800,000.
“I am writing Mr. Reade a line to-day telling him that our Methodist church society is still a bit in debt for a new parsonage, and also that the ball team needs new uniforms, inquiring which of these he prefers to have the $25 I am winning from him turned over to.”
That is a sample it appears of letters that Mr. Reade is receiving and it is expected that other claimants will come forward for the $25.
Place County Funds at Interest
George L. Dobson, candidate for county treasurer on the republican ticket, in Polk County, and thereby as good as elected, proposes not only to place the county funds at interest but he intends if possible to get a law passed compelling every county treasurer in the state to do likewise. Mr. Dobson has enlisted the services of the state senator from Polk County and the two representatives, and he is organizing to make a campaign for that law before the next legislature. Pie says that the new law would mean at least $200.000 annually to the taxpayers of Iowa.
The New Currency
Alaska Not a Fertile Field
Harry L. Blackburn, cashier of the Iowa National at Des Moines, does not regard Alaska as a fertile field for investment. Mr. Blackburn has just returned from a six weeks’ trip through the North. He says that the adventurous gold hunters have largely disappeared and the search for gold is now being-carried on by large corporations. Much gold is being taken out but the country as a whole
According to the Sioux City papers, the bankers in that city״ have made no particular effort to secure the new national bank note currency issued by the Treasury Department, under the provisions of the Aldrich-Vreeland bill. The bankers there, it appears, regard the new bills as of very little change from the old and say that the new application of “white-backs” is not justified. Financial institutions may deposit securities such as prescribed by
CLINTON, IOWA
Capital and Surplus, $500,000.00
Send us your Iowa and Western Illinois collections. Our service and rates will please you. BANK ACCOUNTS SOLICITED.
Des Moines, Aug. 6.—Some one in Shenandoah played a good joke on President Reade of the First National at Shenandoah that is causing more discussion among bankers throughout the state than anything that has happened during the dull summer months. For President Reade was quoted as offering to bet $25 that there isn’t another city in Iowa the size of Shenandoah that can make as good a showing in bank deposits as the three national banks of that place. It appears that President Reade, who is a staunch church member never made a wager in his life, but since the offer was published he has received a score or more of letters from other Iowa towns wanting to take him up and. show that Shenandoah has some little competition along the bank deposit line. But even though President Reade is laughingly denouncing the offer as a practical joke, the item in question has developed a mighty interesting contest.