23
THE CHICAGO BANKER
November 14, iço8]
THE
FIRST NATIONAL BANK
SOUTH BEND, INDIANA
Capital -	$105,000
Surplus and Profits - $103,375 Deposits -	$745,891
C. A. KIMBALL, Cashier C. L. ZIGLER, Assistant Cashier
OFFICERS
L.	HUBBARD, President
M.	B. STALEY, Vice-President
Special Attention Given Collections
ESTABLISHED 1863 — 126th National Bank Incorporated in the U. S.
PERMANENT GOVERNMENT DEPOSITARY
Surplus and Undivided Profils
$232,593
First
national
Bank
Capital
$500,000
Deposits
$2,966,941
FORT WAYNE, INDIANA
OFFICERS
C. H. WORDEN, Vice President and Managing Officer H. R. FREEMAN. Cashier J. H. ORR, Asst. Cashier
This Bank was the first in the State of Indiana, and the eleventh in the United States, to take out a Charter under the National Bank Act
J. H. BASS. President
H. A. KEPLINGER. 2d Vice Pres.
Forty-five Years of Safe Banking
of officers, directors, correspondents, dividend rates and stock quotations. The compilation is done by the Audit Company of New York, 43 Cedar Street. The book has an alphabetical index.
New Trust Company and Bank
Application has been made to the state banking department for the incorporation of the Bronx Safe Deposit Company, with a capital of $100,000, situated at Tremont and Park avenues, New York City. Also for the reopening of a branch of the Corn Exchange Bank of New York City, at Bridge Plaza, Borough of Queens.
New York Chamber of Commerce
Among those elected to membership in the New York Chamber of Commerce at the regular monthly meeting were: Nicholas Murray Butler, Olin D. Gray, Bernhard Greef, Henry M. MacCracken, and William J. Wilgus.
A. Barton Hepburn submitted the following preamble and resolution: Whereas, the present rapid transit facilities of the city of New York are insufficient to meet the needs of a rapidly growing population, resulting in increasing congestion of the main arteries of travel; and whereas, it appears that the construction of the additional lines of rapid transit that are needed is delayed and obstructed by causes that should be clearly established in order that they may be removed; now, therefore, be it resolved, that the executive committee of the chamber of commerce recommend to the chamber that a special committee of five be appointed by the president, for the purpose of thoroughly investigating the conditions now surrounding the question of the construction of further rapid transit lines in New York City, and of reporting their findings to the chamber with such recommendations as the special committee may see fit to make.
This resolution was passed.
Banking Notes
Stockholders of the European-American Bank will hold a meeting on November 17th for the purpose of increasing the capital from $100,000 to $200,000.
President J. H. Merchant of the First National, Stanford, N. Y., is in the city.
W. W. Bell, formerly of H. E. Montgomery & Co., is notv in charge of the bond department of Slade & Boyer.
New York Banking and News Letter
The Home Bank of Brooklyn has paid its fifth and last installment, amounting to 30 per cent, due to depositors under the deferred payment plan. This payment has been made a year ahead of the schedule time, as it was not due until November, 1909.
Out-of-Town Banks
There is a perceptible increase in the investment purchase of out-of-town banks through their city correspondents. The mails since election day have contained a good increase in orders for securities and commercial paper. This is not simply confined to large city banks for numerous small institutions are making purchases of from $5,000 up of bonds, and others are taking considerable blocks of commercial paper. No particular section is concerned, but extends to the East as well as the West and the South.
The South is, of course, a lighter purchaser of securities, but instances are not wanting in which its banks are utilizing their resources in taking up commercial paper, as the sale of cotton brings their deposits up to a good margin beyond safe reserves.
Realty Loan Law in Effect
The provisions in the new banking laws of the state of New York, limiting loans by banks on real estate, became effective Monday. This clause of the law prohibits the making of any loan by a bank on real estate, directly or indirectly, if the making of such loan would bring its total loans on real estate security up to 15 per cent of its total assets in the case of an)' bank in any city borough having 1,800,000 inhabitants or over, or up to 25 per cent in the case of banks in other parts of the state.
Trust Companies of the United States
There is just issued from the press, with the compliments of the United States Mortgage and Trust Company, of New York City, a valuable book on “Trust Companies of the United States,” 1908 edition. It contains a compilation of the statements of condition of practically all the trust companies of the United States as of June 30, 1908, also a list