[Volume XXV
THE CHICAGO BANKER
6
Pittsburgh has 31 National Banks, 25 State Banks and 38 Trust Companies, with total deposits of over $360,000,000. The oldest of all these
financial institutions, having been in continuous existence for 98 years, is
J. M. RUSSELL 1st Assistant Cashier
J. D. AYRES
Assistant Cashier
Tt\e
Rank of Pittsburgh
JL/JNatiorLal JL \vs >s o c i a i ion w
'National
Surplus $2,800,000
‘THE BANK THAT HAS GROWN UP WITH PITTSBURGH’ ESTABLISHED 1810
WILSON A. SHAW President
JOSEPH R. PAULL Vice-President
W. F. BICKEL Cashier
Capital 82,400,000
.	.	President
. Vice-President .	.	. Cashier
Assistant Cashier Assistant Cashier Assistant Cashier Assistant Cashier Assistant Cashier
C. H. HUTTIG .
W. B. WELLS
G.	W. GALBREATH J. R. COOKE
D’A. P. COOKE R. S. HAWES
H.	HAILL .
J. F. FARRELL .
3rd NATIONAL
OF ST. LOUIS BANK
Capital, $2,000,000	Surplus, $2,000,000	Deposits, $30,000,000
---------- ACCOUNTS SOLICITED ----
Michigan Banking News
By W. T. FOSTER
tion of insurance commissioners at Detroit last week, said that the next io years will witness the greatest era of prosperity this country has ever known. “It will not be so extravagant,” he declares, “but it will be soundly conservative and widespread. I am in a position to have accurate information as to the situation in 24 states, and reports in every case are encouraging. The payrolls of the factories tell the story of general industrial conditions, and these are surely on the increase from California to Connecticut. Collections also are better than at any time since the depression struck us. The mills will increase their forces after election. I am confident that Taft will be the next President. Everything indicates this, and one of the important factors is the fact that the average man believes his election will mean definite results in many lines.”
Sells Stock in Dexter Bank
W. T. Bradford, of Detroit, has sold his stock in the Dexter Savings Bank and has resigned his office as director and vice-president. He has been succeeded as vice-president by H. W. Newkirk, of Ann Arbor, and Fred Walker, of Dexter, has been elected as a member of the board of directors.
The City National
The City National (of Kalamazoo) directors have decided to spend $10,000 on improvements. A new front will be put in the building and the interior of the room rearranged.
The Farmers and Mechanics Bank
Fred H. Belser, cashier of the Farmers and !Mechanics Bank of Ann Arbor has resigned and is to be succeeded by Herbert Williams, now teller of the institution.
The State Bank of Montcalm
The State Bank of !Montcalm has filed articles of incorporation. It is capitalized at $20,000.
Tr*
Chicago Bank Clearings
Bank clearings in Chicago for the month of August were: $902,555,260, compared with $999,647,987 a year ago, a decrease of $78,092,-727. Balances were $63,303,715, compared with $57,654,218 a year ago. an increase of $5,649,497 over last year.
P. H. Nelson has been elected vice-president of the First National, of Chisholm, Minn., succeeding J. F. Kollorin.
Speculation is rife as to whom the dies belonged. With great unanimity, public opinion has settled upon Frank Stebbins, who once lived on the place, on the principle that a man who has once done wrong is always open to suspicion. Stebbins is now said to be doing a term of 25 years in Joliet prison.
The First National of Manistee
The First National of !Manistee is in its new home. Marble and mahogany predominate in the interior finish. Richness of material, harmony of relation, color, form and design all contribute to a result that is strikingly rich and dignified.
The main banking room is wainscoted in rich marbles, has a mosaic tile floor, and woodwork of selected mahogany enriched by solid bronze grills. The panels of the walls, in imitation of old leather, carry out the color scheme very fully, as yellow and old gold predominate in the broken lights and mixed tones.
The convenience of lady patrons of the bank has been provided for in a suite of rooms opening from the lobby.
The vaults which were installed by the Her-ring-Hall-Marvin Safe Company, of Chicago, are of the most modern construction.
The Charlevoix State Savings Bank
The Charlevoix State Savings Bank under its new management is steadily gaining an increased patronage. The outside interests have all been purchased by !Mr. Foley, president of the bank, Dudley E. Waters and A. T. Slaught, of the Grand Rapids National, and C. D. Danaher of Chicago.
Since President Foley and Cashier Rachow have been managing the affairs of the bank, the Charlevoix State Savings Bank has become almost wholly a local institution and is enjoying a steady increase of deposits and clientage. The book value of the stock is now considerably above par.
Predicts Prosperity
Robert B. Armstrong, president of the Philadelphia Casualty Co., who attended the conven-
The State Savings Bank and the Alpena County Savings Bank of Alpena were merged September 1st under the name of the latter. The consolidation gives the city a banking institution having commercial and savings deposits aggregating more than $1,300,000 and a capital and surplus of $220,000.
The Athens State and Savings Bank
The Athens State and Savings Bank at Athens, Calhoun County, closed its doors Thursday afternoon. L. E. Wells is president and H. G. Lewis cashier. State Banking Commissioner Zimmerman, after the closing of the bank, issued a statement in which he said he had found evidence that a deliberate plan to deceive the State Banking Department had been adopted by the Athens Bank since the examination which took place !March 10, 1908.
The capital of the bank is $15,000, and on August 24th the commercial deposits were $25,-000, savings deposits, $72,000; surplus and net profits, $5,100; loans and discounts, $65,442; bonds and mortgages, $34,510.
Banking Commissioner Zimmerman declined to state in detail what entries in the bank’s books of reports formed the foundation for his charge of deception.
Charged with forgery of notes amounting to over $13,000, Harry G. Lewis, cashier of the bank was placed under arrest Friday and gave bond in the sum of $2,000 to appear in court next Thursday.
Find Outfit for Making Bad Coins
Digging in a gravel bed on the farm of Joseph Lawless, a mile north of Collins, Tuesday, Ben Borton, of that place, came upon a cut glass jar containing ten copper dies for making counterfeit money. Nine of them were for coining half dollars, the other for dollars. Borton at once turned them over to the local authorities, who notified the federal officers at Grand Rapids.
The dies bore dates from 1876 to 1880, and it is thought that they were used about the latter date.