27
THE CHICAGO BANKER
November 7, iço8\
First National of Altamont
The First National of Altamont, 111., which was established July 15, 1907, at the close of business September 23, 1908 showed deposits of $152,767. W. H. Shubert, the president of the bank, is well known in Illinois banking־ circles; being cashier of the First National at Greenup for a number of years. The other officers are: H. Schwerdtfeger, vice-president and J. L. Brummerstedt, assistant cashier. The capital stock of the First National is $25,000.
The bank answers the question “Why we grow?’’ as follows:
Because:	This is a strong, careful, safe and
successful institution. It is a growing, active, up-to-date bank in every particular. Your account will be appreciated by this bank, and your interests will always be carefully considered. Our funds are guarded by a modern burglar proof safe.
We carry ample burglar and hold-up insurance as an additional safeguard.
We have all of our officers bonded in a strong security company.
We are under the watchful eye of Uncle Sam, at all times. He asked us to tell him how we are getting along—hence reports.
Our officers are experienced bankers. Our directors are all well known, well-to-do business men—they are directors who direct.
New Bank at Warm Springs
The new bank of Warm Springs, Va., reports J. C. McGuffin, president; G. B. Venable, vice-president; J. M. Douglas, cashier; M. L. Gray-beal, assistant cashier. The capital is $25,000.
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¡!New Building for First National
Work has begun upon the new two-story building of the First National at Waitsburg, W ash.
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Brief Banking Notes
Extensive improvements will be made to the building of the Maury (Tenn.) National.
The capital stock of the Repton (Ala.) State Bank has been increased from $15,000 to $40,-000.
The Mendon (O.) Bank has closed its doors. Slow collections and bad paper are given as the cause.
George B. Clifford, a Grand Forks, N. D., banker, has bought a house and site in Minneapolis and will remodel the house into one of the finest in Minneapolis, for his future residence.
The Bank of Capa, S. D., has been capitalized at $100,000. The incorporators are John Flays, FI. A. Bloom, Pierre; Edward Welch, Wendte; John Klever, Erick Klever, J. E. Thorne, Capa.
Directors of the First Bank of Harrison, Idaho, have accepted the resignation of Vice-President R. K. Wheeler, and elected E. C. McEachran, of the Latah, Wash., bank, vice-president and manager. W. B. Hager remains as cashier.
George F. Orde, cashier of the First National of Minneapolis, is pointing with pride to the largest percentage increase in deposits since July. At that time the bank’s deposits were $14,000,000. On October 15th they were at the maximum to date, or $21,000,000. These were earned deposits.
Emil Klein, cashier of the Mercantile National of New York, was the guest of J. A. Latta, vice-president of the Swedish American Natinoal, of Minneapolis last week. He declared his advocacy of the central bank of issue. “I do not believe that our people are ready for it yet,” he said, “and a campaign of education would be necessary before they would vote in favor of it.”
David Beaton, Jr.
David Beaton, Jr., who has held the position of receiving teller, savings department of Central Trust Company of Illinois, Chicago, during the past six years, resigned on November 1st, to accept a position as manager of the sales department of the Chicago office of the Wyoming Sulphur Company, with officers in the Borland Building. The company owns and operates a sulphur mine in the state of Wyoming and is officered by the following Chicagoans:	Louis K.
Boysen, president; O. E. Taft, vice-president; H. L. Taft, treasurer; W. Z. Marx, secretary.
J. L. BRBMMERiSTEDI Altamont, 111.
Assistant Cashier First National
Mr. Beaton leaves the services of the Central Trust Company of Illinois with the good-will of its officers and associates and by his ability, uniform courtesy and kindness to patrons, will carry with him into his new employment their very best wishes for success.
H. H. Eldredge
Henry H. Eldredge, recently admitted to the bar in Pennsylvania and practicing in Philadelphia, will return to Cape May, N. J., his native place, to assume the cashiership of the new Merchants’ National, which has secured a prominent site and expects to begin business the first of the year. Cape May’s necessities in the line of banking have been served for twenty years by a branch of the Security Trust Company of Camden, in which a number of Cape May people hold
The Bank of Landrum
The new Bank of Landrum, S. C., has a capital stock of $15,000. The following are the officers: Howard B. Carlisle, president; Joseph Lee, vice-president; directors, D. F. Ezell, J. S. Carpenter, Gray B. Hampton, Elisha Romar, J. L. Lemort and J. T. Waldrop.
W. R. Johnson
William R. Johnson, of this city, formerly cashier for Tracy & Co., has associated himself with Farson, Son & Co., First National Bank Building.

The Northwestern National of Minneapolis deposits on July 1st were $19,541,000, and on October 5th were $26,475,000.
money orders against his account, says Prof. Loughridge. Moreover, he says that the government is making money out of the institutions by paying off its 4 per cent debts with the deposits upon which it is paying only 2 per cent thus clearing that difference.
Will Adopt New Ruling
Auditor of State Carroll will probably adopt the new ruling of the national banking department relative to the calling of a meeting of the bank directors when the bank is to be examined. Auditor Carroll believes that one of the greatest difficulties in the examination of banks by the state inspectors under him is the inability of the examiner to know the worth of the notes and securities which the institution carries on its books and which he will be able to ascertain by propounding to the directors the twenty-nine questions suggested.
Banking Notes
William Slezak has resigned his position as cashier in the bank at Novinville to go into other business. James Kosar has been chosen to take 111s place.
The Aetna Indemnity Company has paid the Farmers Savings at Huxley $5,000 which was the fidelity bond carried by the company for R. H. Aldridge, the defaulting cashier who was sentenced to ten years for creating a shortage in the bank of $10,000.
The First National at Olin has purchased a building to be used by itself exclusively. It is now being overhauled and otherwise improved.
No trace has been found of five men who tried to rob the Plymouth County Bank near LeMars. 'they badly wrecked the exterior of the building but were frightened away before wrecking the safe. The men were bad criminals for one held the train operator at bay while his pals tried to carry out the robbery.
W. P. Brodewick of Eddyville had joined the club of those who were afraid to put their money in banks. Burglars raided his home and seized $893 escaping without leaving the officers a single clue.
Miss Dorothy Lee of Fayette has become the bride of Roy Harris, a young banker at Hamburg with whom she became acquainted while teaching in the Hamburg schools. The groom is recognized as a most successful banker in southeastern Iowa.
Cook, Musser & Co. Bank and Trust Company of Muscatine have filed articles of incorporation changing the capital stock from $75,000 to $250,-000 and the name of the company to the Cook, Musser & Co. State Bank. The forming of the new company and the proposed erection of a handsome new structure at Muscatine was given in these columns some time ago.
John McQuiston, who has been conducting a bank at Rupert, Idaho, has been in Des Moines attending the golden wedding anniversary of his parents who are pioneer Des Moines residents. Mr. McQuiston was formerly county auditor in Polk county, Iowa.
Henry Brock who was formerly custodian of the State Bank at Iowa City and who was declared insane after finding large amounts of the bank money, escaped from the state asylum at Independence and returned to Iowa City vowing vengeance. He was rearrested and returned to the asylum. Brock, when arrested in the summer, said that he had intended to escape from the bank in an airship.
Expert accountants employed to check up the books of treasurer McCrary of Calhoun county upon recommendation of the grand jury have reported that latter are found in first class condition.
Bank clearings for Des Moines for the week ending October 31st show a total of $2,530,158.-57 as against $3,063,836.87 for the corresponding-week in 1907.