[Volume XXV THE CHICAGO BANKER 8 THE FARMERS’ AND MECHANICS' NATIONAL RANK OF PHILADELPHIA, PA. 427 CHESTNUT STREET Capital . . $2,000,000.00 Surplus and Profits 1,320,000.00 Organized January 17, 1807 Dividends Paid . $12,707,000.00 OFFICERS : Howard W. Lewis, President Henry B. Bartow, Cashier John Mason. Transfer Officer Oscar E. Weiss. Assistant Cashier • CCOUNTS or INDIVIDUAIS, FIRMS, AND CORPORATIONS SOLICITED *RESENT NUMSER Or STOCKHOLDERS 930 STATE BANK OF CHICAGO ESTABLISHED 1879 S. E. Corner La Salle and Washington Streets Capital $1,000,000 Surplus and profits (earned) 1,300,000 Deposits 19,000,000 OFFICERS H. A. Haugan, President L. A. Goddard, Vice-President John R. Lindgren, Vice-President Henry S. Henschen, Cashier Frank I. Packard, Asst. Cashier Henry A. Haugan, Asst. Cashier Samuel E. Knecht, Secretary William C. Miller, Asst. Secretary YOUR CHICAGO BUSINESS RESPECTFULLY INVITED IN CINCINNATI With Resources of NINETEEN MILLION DOLLARS And every facility for the satisfactory handling of Bank Accounts CORRESPONDENCE INVITED Ohio Banking News directors, the funds and assets of the bank were wholly lost. The Provident Savings Bank and Trust Company It has developed that when Edward Loudon, the clerk at the Provident Savings Bank and Trust Company of Cincinnati, disappeared with the package of $5,000 in currency, which was taken from the cage of the receiving teller of the bank, he also carried away with him $205 of other money belonging to the bank. The Adelphi Banking Company Edward J. Wittmer is president; George Armstrong cashier; and E. N. Bowers, assistant cashier of the Adelphi Banking Company. The Dayton Savings and Trust Company The Dayton Savings & Trust Company reported that it had lost no money by the alleged action of F. B. Humphrey, who is said to be held in Chicago for passing alleged worthless checks on Cornell College men. New Bank for Middletown Harry Walburg, A. K. Walburg, E. Rathman, W. K. Rhonemus and Geo. W. Platt have organized a new savings bank with a capital stock of $50,000 at Middletown. V* Will Share Pro Rata The suit of the Modern Woodmen of America to establish its $350,000 deposit in the defunct First National of Chariton, la., as a preferred claim has been dropped, following a conference of the interested attorneys and the receiver. Under an agreement which was reached this $350,000 deposit will take its place with the 500 depositors—neither better nor worse—and it will share pro rata with them in the distribution of the assets. In this connection it was announced also that Receiver Jamieson would pay the first dividend to depositors in another week or ten days. He has on hand approximately $250,000 for the first dividend, which will pay about 25 per cent of the claims. It is expected that enough more will be realized from the various assets to make an additional 15 per cent dividend later on, a total of 40 per cent. The Guaranty Loan and Trust Company The Guaranty Loan & Trust Company of Cleveland has been organized with a capital stock of $25,000. The following officers are reported: Herbert W. Cole, president and treasurer, and L. M. Cole, secretary. Bank Dividends The German National of Cincinnati has declared the regular semiannual dividend of 5 per cent and the Atlas National the regular semiannual dividend of 4 per cent. The Commercial National The Commercial National of Columbus reports capital of $300,000, surplus $175,000, undivided profits $56,000, and deposits of $2,850,000. W. F. Hoffman is president; D. E. Putnam, vice-president, and G. A. Archer, cashier. W. W. Brown Back at Desk W. W. Brown, vice-president of the Merchants National of Cincinnati, is back from a trip to California. While away he visited his son, Edgar, who is a resident of Flagstaff, Arizona. Former Bank Men Sued J. Ford Laning, Congressman from the Fourteenth District, and former vice-president of the defunct Ohio Trust Company of Norwalk, and other members of the board of directors prior to its failure, were sued for $300,000 damages by creditors. Suit against other trustees for the Ohio Trust Company for $10,421 on a promissory note given by Laning also was brought. The $300,000 damage suit against the directors of the Ohio Trust Company is based on charges of fraud and mismanagement of the trust company’s affairs. It is charged that as a result of mismanagement and fraudulent practices of the A majority of the directors of the Columbia Bank and Savings Company, Court and Vine streets, Cincinnati, held a secret meeting last Saturday and unofficially decided to increase the dividend on its stock to 12 per cent, commencing January 1st. A formal announcement to this effect will be made on the last Saturday in December. The stock now pays 6 per cent. The Farmers National of Arcanum The Farmers National of Arcanum has been incorporated with a capital stock of $50,000, and the following officers: W. J. Dull, president; A. M. Flory, vice-president; O. O. Smith, cashier, and L. L. Miller, assistant cashier. This institution is the conversion of the Farmers Bank Company of Arcanum. Bucket Shop “Leak” Found As a result of charges against the Western Union by the Chicago Board of Trade that market quotations have been permitted to leak “to bucket shops,” five trusted employees of the Cincinnati Western Union office were absent from their accustomed desks, having been suspended pending investigation. The chief operator, chief lineman, chief clerk to superintendent’s office, head of the ticker department and head switchboard operator were dropped. This whole matter is understood to be at present a matter of inquiry by the federal grand jury, several of the operators formerly employed by the now defunct brokerage houses having appeared before that body. The Merchants National Dividend The Merchants National of Cincinnati, has declared a semiannual dividend of 31/¿ per cent. This is an increase of per cent semiannually, or 1 per cent a year.