27
THE CHICAGO BANKER
October io, iço8\
The first National at Elliott has added two new men to its force. They are C. F. Caldwell of Des Moines as bookkeeper and F. E. Tunner-cli/t of Shenandoah. The latter succeeds O. P. Manker, who has entered college at Indianaola.
F.	H. Simpson of the Mechanics Savings, Des Moines, has returned from Colorado where he was assistant secretary of the first state fair the state ever gave and which he reports as a great success.
G.	D. Ellyson, of the Marquardt Savings, Des Moines, has been hunting in Northern Iowa. He has made the trip in his automobile which he also utilized in carrying game.
The First Savings of Crawfordsville has filed articles of incorporation. The capital stock is $15,000. Directors are Elias Williams, T. W. Rickey, M. D. Maxwell, A. Lundquist, W. P. Davidson, H. E. Davis, A. A. DeLong, W. Iv. Wooley, G. W. Nickolaus.
Fred Becker, president of the LeMars Savings, who was forced to go to Excelsior Springs because of failing health, is at home in LeMars, greatly improved.
George W. Woods, who has been in charge of the Ralston Savings since it was organized, has resigned to take up the practice of law at Eldora. Roy Fell has been made cashier in his place.
ooo. Directors are H. S. Abbott, Milton S. Dewey, II. II. Overocker, J. A. May, O. C. Fuller and F. T. Heldridge.
The Selma Savings has filed articles of incorporation. The foundation is now almost completed and it is hoped to occupy a fine new building soon.
The Bently Savings has filed articles of incorporation with a capital stock of $10,000. T. G. Turner of Council Bluffs, is president; C. D. F. Langfeldt of Bently, vice-president; W. L. Spencer of Bently, cashier. The board of directors consists of James Hunter of Minden and Hugo Hisher of Bently in addition to the above.
The Newburg Savings is soon to have a fine-two story building which is rapidly nearing completion. Articles of incorporation have been filed, giving the capital stock of the ne\v institution at $10,000. Directors are J. L. Burroughs, James Lowry, John Newcomer, George H. Hamilton, P. Y. Fuller, C. G. Alden, H. C. Gates.
The Redfield Savings has purchased the old hotel building there and will erect at once a handsome new structure of latest design.
The increasing business of the Citizens Bank at Union has forced the employment of two more men as soon as the institution is installed in its new building. The new men are Clyde Barnes of Whitten and Harry Humeston of Union.
000 against the Frank Crocker estate. But as the latter is w׳orth about $25,000, it is seen the judgment is hardly as large as it appears. The total amount of claims against the Crocker estate is about $1,250,000. Those preferred are the claims of the receiver and about $100,000 by Thomas Brandon, Crocker’s partner. It appears that the depositors will get about seven-eighths of the estate or $22,000. Heirs of Brandon are buying up outstanding certificates held by depositors and are paying up the balances due.
The First Trust and Savings Bank
The First Trust & Savings at Shenandoah has been incorporated with a capital stock of $10,-000. The directors are T. H. Read, Elbert A. Read, Henry Read, E. J. Read and D. B. Miller. The institution wall be conducted along wfith the First National and the officers in the two are identical.
Banking Notes
The Des Moines National, which is now installed in its temporary headquarters in the Good Block while its new׳ structure is to be built, will open a savings department when it occupies its new building next spring. The capital stock, Arthur Reynolds says, will be from $75,000 to $xoo,ooo. The directors have been considering the idea for some time.
The Milford National at Milford has been organized and approved. The capital stock is $25,-
971,188; farm lands, $109,265,554; improvements on farm lands, $19,197,693 ; city and town lots, $217,122,940, and improvements on town and city lots, $87,608,002.
Farm property, including timber lands, was assessed last year at $202,134,125, and with the greatly increased values placed this year on timber shows an aggregate increase of about 27 per cent, while city and town property with improvements has increased from the $234,029,988 assessed last year about 30 per cent.
The Inland Bank
Judge Kennan of the Spokane County superior court, has made an order directing W. F. Meier, receiver, to turn the assets of the defunct Inland Bank of Spokane over to O. W. Macdonald, who offered $8,100 for the tangible assets, including moneys, personal and real property, stocks, notes, and accounts. Creditors have until November 1st to prove and file claims. It is conditioned that the purchaser cause himself to be substituted in the place of the receiver, as party plaintiff, or defendant, in any litigation now pending, or which may hereafter be brought, and that he shall prosecute or defend in such litigation, at his own expense, without recourse on the receiver in any way whatever, also that A. C. Clausen, attorney for the purchaser, be substituted in place of S. R. Stern, former counsel for the receiver.
Banking Notes
Work has begun upon the two-story building for the First National at Waitsburg, Wash.
O. F. Johnson, cashier of the Chehalis County Bank, Aberdeen, has resigned for the purpose of establishing a bank at Camas, Wash.
The Warden State Bank has purchased the Big Bend State Bank of Warden. The capital and management of the Warden State Bank remain the same.
A. R. Patten has disposed of his entire holdings in the Palouse State Bank to R. H. Hill, and will engage in the real estate business in Spokane, with his father.
which included prominent bankers, business and professional men, was a success in every way. F. E. Goodall, president of the local organization, presided having on his right Mayor C. Herbert Moore and J. E. Chilberg president of the A. Y. P. exposition and I. A. Madeau, vice-president of the Seattle chamber on his left. Edwin T. Conran, president of the Spokane Clearing House Association, also spoke.
Torrens Land Law
Judge George E. Morris of the superior court, has handed down an opinion that the Torrens land law, enacted by the legislature of Washington in 1907, is constitutional. The judgment was entered in a friendly test case and notice was given of an appeal to the supreme court. In overruling a demurrer attacking the validity of the law as the result of the clerk of the county refusing to accept an application to register land titles on the ground the law was defective, Judge Morris said that the title of the act is legal. “Under the law׳,” the court added, “a person has 20 days in addition to 21 days of public notice, making 41 days in all to appear in court. If this is insufficient I am sure any court will give relief by extension of time upon proper proof.”
Express Companies in Washington
Express companies operating in Washington will pay to the state $41,977.45 as excise tax of 5 per cent of their earnings during 1907. The earnings reported to the tax commission and the tax each company will pay follow : Northern Express Company, earnings, $509,710.23, tax, $25,-485.50; Great Northern Express Company, earnings $253,169.98, tax, $12,658.50; Pacific Express Company, earnings $48,497.77, tax. $2,324.89 ; Western Express Company, earnings, $19,443,70, tax, $972.18; Pacific Coast Express Company, earnings $10,727.63, tax, $536.38. Total earnings, $839,549.31, tax, $41,977.45.
Footings have been made of the real property rolls as returned by the county boards. These show an aggregate of $561,154,821, as against $436.164.113 last year. This includes timber lands, $73,989,444; unimproved farm lands, $55,-
Spokane, October 7.—Substantial gains in deposits, cash on hand and surplus and undivided profits are reported by the banks in Spokane at the close of business September 23d in a statement prepared in answer to the call of the Comptroller of the Currency. The gains in deposits and cash in hand amount to $3,000,000, which is evenly divided. In actual cash there is tw׳ice as much money in the banks to-day as there w׳as a year ago, the figures being as follows: Cash on hand and in banks, $11,691,172.07, as against $10,189,-504.70 on July 15th; deposits, $24,554,529.81, as against $23,073,398.51, on July 15th; surplus and undivided profits, $1,722,131.18, as against $1,-611,908.75, and loans and discounts $12,547,065.-55, as against $12,855,038.41.
Spokane Chamber of Commerce Banquet
United States Senator Samuel IT. Piles, who was one of the principal speakers at the banquet by the Spokane Chamber of Commerce in honor of the Seattle Chamber of Commerce and officials of the Alaska-Yukon-Pacific exposition in the Hall of the Doges here recently said among other things in responding to the toast, "One for all and all for one,” that the Pacific Northwest is entitled to more consideration from Congress than heretofore.
The Northwest w:as founded by sturdy pioneers, he added, and was a voluntary contribution to the republic and cost no blood or treasure. There is every reason to believe that the resultant effect of the conference of executives of commercial organizations at San Francisco will be more united work on questions pertaining to the Pacific slope, he said, adding:
"We want three or four great drydocks. The Pacific coast is entitled to a fleet. We need improvements on the vast waterways and the opening of the Snake and Columbia rivers to furnish competitive commerce and competition for railroads like the great water courses of Europe. This movement is not an alliance to oppose general legislation, but one to better understand each other.”
The reception and banquet to the Seattle party,