[ Volume XXV
THE CHICAGO BANKER
26
UNITED STATES DEPOSITARY
The Cedar Rapids National Bank
Cedar Rapids, Iowa
Has for more than 21 years given particular attention to the accounts of Iowa Banks and Bankers, and is thereby enabled to place at their disposal facilities that are unsurpassed.
OFFICERS A. T. Avertll, Presidont	Kent C. Ferman, Cashier
(;. F. Van Vechten, Vice Pres.	Louis Visha, Asst. Cashier
Ralph Van Vechten, Vice Pres. A.R. Smouse, Auditor
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
New Bank Buildings
The Black Hawk National at Waterloo is preparing to erect a new seven story office building to cost in the neighborhood of $75,-ooo. It will be of reinforced concrete and brick. The State Bank of Traer is erecting a new bank building 4t Vorhies, ten miles distant, where it will operate a branch institution. The First Trust and Savings
Marshalltown is to have another new bank to be known as the First Trust and Savings and it is being organized by officers of the First National. The capital stock will be $50,-000. The new Iowa Savings of Marshalltown is now open for business in the Kibbey block and is starting out well. Marshalltown has made one of the best growths in banking of any city in Iowa the past year.
Banking Notes
The State Savings at Chariton has increased its capital stock from $15,000 to $25,000. It is also rumored that the Lucas County National at Chariton is soon to have a new home.
C. O. Acers of the First National at Sioux City, has resigned and will make his home in the future in South Dakota, where he hopes to benefit his wife's health.
J. H. Blair, vice-president of the Des Moines National was at Oskaloosa and Ottumwa gathering ideas for the furnishing of the new bank building which is to be erected on the site of the old bank which is now being razed.
Assistant Cashier Beyers of the Century Sav-
of the troublous times that became in evidence about a year ago this time.
Penny Provident Association
Mrs. H. L. Carroll of the Iowa Mothers’ Congress which met in Des Moines a week ago, gave an interesting report as to the Penny Provident Association of Des Moines, an association which has for its purpose the encouragement of children in saving their pennies and in depositing their money in the banks. Mrs. Carroll’s report shows that since the association was established in October, 1901, there has been deposited in Des Moines banks $52,286.44, while there have been 3,980 depositors. The plan is very simple. The teachers sell stamps to the children and the proceeds for the stamps are deposited in Des Moines banks at 4 per cent.
National Banks of Iowa
The Comptroller of the Currency reports the abstract for the national banks of Iowa outside the reserve cities as shown by the recent report at the close of business September 23d as follows: Average reserve held at 16.85 Per cent as against 17.07 per cent on July 15th, loans and discounts increased from $84,251,388 to $85,834,383; gold coin decreased from $2,-663,314 to $2,610,380; the lawful money reserve increased from $7,347,702 to $7,356,535; individual deposits from $82,744,824 to $84,992,624. The Green Mountain Savings Bank
The state banking department in the auditor’s office is completing an investigation into the circumstances surrounding the Green Mountain Savings, which was wrecked by E. L. Collins last summer. Collins was brought back to Marshalltown to stand trial on an indictment and is now in jail. The investigation shows that Collins came West from Boston where he had been a broker. He went to Green Mountain, negotiated with the owner of the concern, induced the latter to put in $3,000 stock and $5,000 residence and to this Collins added $5,000 from the proceeds of the bank. Upon this he secured a certificate of deposit for $10,000 and with this as a capital stock organized the bank over again as the Green Mountain State. Collins then secured blank certificates of deposit, took them back East, filled them in and was busily engaged negotiating them when he was arrested. He had filled in 21 certificates for $2,400 and $2,600 each and the total amount reached $52,800 though he had only collected $8,000 cash when caught.
New Bank for Centerville
A new state savings bank with a capital stock of $50,000 is to be started at Centerville by the heirs of the late General Francis M. Drake for the most part. The new institution is to be a branch of the Centerville National and the stockholders will be Dr. J. L. Sawyers, G. M. Barnett and Joseph Goss, with others owning minor shares. They have negotiated for the Goss business block wherein they will establish the new institution.
OiRECT
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, October 22.—Iowa will swing into line this fall with a corn crop that experts say will total from 280,000,000 to 300,000,000 bushels and which is worth, at present market prices some 230,000,000. With this outlook for the crop that Iowa calls her staple yield and which measures to a large extent the prosperity of the state, Iowa people are predicting a prosperous winter. Bankers throughout the state are uniformly pleased with prospects. The election has acted as a detriment to the cause of banking just as it always does and there are many people who are making dire threats as to what will happen in case the election goes against the party in power. But local bankers assert that all in all, conditions are first class, depositors are increasing every day, there is a steady demand for money and there is really nothing to indicate a recurrence
THE DES MOINES NATIONAL BANK
DES MOINES -	- IOWA
OUR DIRECT FIELD—STATE OF I0Wc4
Capital	-	$300,000.00
Surplus £? Profits 85,000.00 Deposits	-	4,000,000.00
ARTHUR REYNOLDS. Prc.ident JOHN H. BLAIR, Vice-President A. J. ZWART. Cashier
MERCHANTS’ NATIONAL BANK
BURLINGTON, IOWA.
CAPITAL -	-	$100,000.00
SURPLUS AND PROFITS, -	$100,000.00
OFFICERS
J. L. EDWARDS, President	W E. BLAKE, Vice-President
JAMES MOIR, Vice-President	ALEX. MOIR, Vice-President
H. J. HUN6ERF0RD, Cashier
F.L. HOUKE.Ass’t Cashier	C. L. FULTON, Ass t Cashier
ACCOUNT• Of ■ANK4 •ANKER• M A NU FACTU RIM AND INDIVIDUAL• INVITED AND EVERY FACILITY CON«l«TENT WITH • OUND CONSERVATIVE AND LEGITIMATE BANKING WILL BE
Citizens’Savings Bank
CAPITAL, $50,000.00
DECORAH, IOWA
• RECIAL ATTENTION GIVEN TO COLLECTION* SEND YOUR DECORAH ITEMS TO US
E. J . Curtin, President B.J. McKay, Cashier O. Casterton.	E. L. Amundsen,
Vice-President	Asst. Cashier
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it contains anything about Iowa Banks or bankers. The favor will be appreciated.