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THE CHICAGO BANKER
December 5, 1908]
			
HAMILTON NATIONAL BANK OF CHICAGO Report of Condition at Close of Business, November 27, 1908 RESOURCES LIABILITIES Loans and Discounts - $4,054,863.96 Capital Stock $500,000.00 ־ Overdrafts - 1,631.05 Surplus and Undivided Profits - 160,525.56 U. S. Bonds - 500,000.00 Dividends Unpaid - 55.00 Premium on U. S. Bonds - 18,000.00 Circulation ----- 500,000.00 Other Bonds - - - - 839,731.11 Government Deposits $276,000.00 Due from U. S. Treasurer - 25,000.00 Individual Deposits 3,023,363.26 Cash and Due from Banks - 3,213,370.16 Bank Deposits 4,192,652.46 $8,652,596.28 - 7,492,015.72 $8,652,596.28 OFFICERS CHARLES B. PIKE, President HENRY MEYER, Cashier J. H. CAMERON. Vice-President GEO. H. WILSON, Asst. Cashier W. T. PERKINS, Asst. Cashier Dl RECTORS F. A. DELANO, ?rest. Wabash R. R. Co. EDMUND A. RUSSELL, Otis Elevator LOUIS E. LAFL1N, Manager Estate ol Company. Matthew Lafiin. CHARLES L. BARTLETT, President W. C. BROWN, V. P. N. Y. Central Lines Orangeine Chemical Co. HENRY MEYER, Cashier. T. A. SHAW, of T. A. Shaw & Co. FRANK E. CUNEO, of Garibaldi & Cuneo. C. J. ELDREDGE, of Merrill & Eldredge. CHARLES B. PIKE, President. J. H. CAMERON, Vice-President. MERCHANTS’ SAFE DEPOSIT VAULTS CONNECTED			Second National Bank PITTSBURGH, PA. CAPITAL STOCK - $1,800,000 SURPLUS - - - 2,000,000 HENRY C. BUGHMAN, President WM. McCONWAY, Vice-President JAMES M. YOUNG, Cashier THOMAS W. WELSH, Jr., Vice-President BROWN A. PATTERSON, Asst. Cashier Depositary of the United States, the State of Pennsylvania and City of Pittsburgh DIRECTORS HENRY C. BUGHMAN, WM. M. KENNEDY, FRANK C. OSBURN, President Commonwealth Trust Co. Attorney-at־Law ROBERT D. ELWOOD, JAS. S. KUHN, EDWARD B. TAYLOR, of R. D. Elwood & Co. Pres. Pgh. Bank for Savings Vice-Pres. Penna. Co. CHAS. W. FRIEND, WM. McCONWAY, FRANK S. WILLOCK, # Clinton Iron & Steel Co, of McConway & Torley Co. of Westmoreland Brick Co. THOS. D. CHANTLER, WM. L. CURRY, Chantler & McClung McKeesport Tin Plate Co. Accounts Solicited—Our facilities insure prompt attention
			
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ants are liable to from five to ten years in the penitentiary.
Banking Notes
The Carlisle Deposit Bank has elected the following directors: F. C. Bosler, Joseph Bosley J. W. Henderson, George M. Hayes, Abram Bosler, A. F. Bedford, Edward B. Watts, J. Kirk Bosler and Oliver Huston.
The First National of Harvard reports capital of $25,000 and deposits of $140,000. S. H. Bennison is president; A. Weber, vice-president, and Matthew Rodgers, Jr., cashier.
A semiannual dividend of 5 per cent has been declared to the stockholders of the Citizens National of Slatington, and $10,000 has been added to the surplus fund, making said amount $60,000.
The First National of Intercourse reports capital of $35,000, and surplus, $1,750. Willis R. Knox is president.
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Banking in Hawaii
The development of the banking business in Hawaii has been one of the significant things of the past decade. Ten years ago there was not a bank in the Islands, outside of Honolulu, whereas at the present time there are no less than fourteen, of which number Honolulu claims nine. The others are distributed on the three other principal islands. Of these institutions three are savings banks, and four are national banks. Application has lately been made to the Comptroller of the Currency at Washington, for a fifth national bank, to be established in Kohala, in the Island of Hawaii.
The growth of the banking business since the annexation is possibly in part explained by the fact that the postal savings bank operated under the Hawaiian government was discontinued at annexation, and some substitute for this was needed in different parts of the
The capital stock of the Chapman (Neb.) State Bank was recently increased from $5,000 to $10,000.
Trust Co. has a capital of $200,000 and surplus of $100,000. Temporary organization was effected by the American Deposit and Trust Company with the election of O. P. Cochran, president, and C. B. Johnston, secretary and treasurer.
Bond Business
Pittsburgh bond houses are enjoying the best business they have known in several years, and there is a scarcity of securities tax free in Pennsylvania. Investors have been in the market for some time and are buying with avidity. Phis condition is taken as an excellent indication that financial affairs are greatly improved, if there were no others.
First Dividend Received
Checks for the initial dividend of 30 per cent have been sent out to depositors of the Cosmopolitan National of Pittsburgh, by Receiver Robert Lyons. The amount to be distributed is $152,032.
The largest check was for $63,041.29, the share under the dividend due the city from the deposit of deliquent taxes. A large number of claims had not been proved when the list of checks was sent to the Comptroller of the Currency at Washington. It is believed all creditors of the bank will receive every dollar due them, but there is no intimation as to when the next dividend will be paid.
Bankers to Go to Prison
A verdict of guilty as indicted was returned by the jury in the United States court Saturday in the case of C. E. Mullin, cashier; R. K. Hissem, president of the defunct Farmers and Merchants National of Mount Pleasant, and E. H. Steinman, ex-president of the Acme Lumber Company.
The jury retired late Friday afternoon and reached an agreement at 9 o’clock. The verdict was sealed and read when court opened.
The indictment charged Cashier Mullin with misapplying funds of the bank, and Hissem and Steinman with aiding and abetting him.
The shortage, it is alleged, amounted to $140,000. There are nineteen counts in the indictment and on each count the three defend-
Pittsburgh mortgage brokers are beginning to complain of a tightening of mortgage funds. The shrinkage has been steady for several weeks and is attributed to improvement in general business, commercial and industrial lines. Funds for land loans are most plentiful when capital is idle, and the better the times the harder it is to obtain money for mortgages. It is said that while loanable funds are less than they wrere a short time ago fewer good loans are offering, indicating that people are not so hard pressed now or are being helped by banks without having to give mortgages as security.
The Real Estate Trust Company
A new banking institution has been formed and chartered at Franklin as the Real Estate Trust Company of Franklin with $150,000 capital. The following have been elected directors: J. Id. Allison, Cochranton, Pa.; E. W. Echals, Benjamin W. Bredin, M. Angelo Hirsch and E. W. Crawford, Franklin.
Receive a Thanksgiving Dividend
After waiting 19 months, depositors of the Mahoningtown, a private bank of Newcastle, which closed April 6, 1907, last week received a 15 per cent partial payment. Attorney Rufus McKinley, the receiver, sent checks before Thanksgiving. Depositors received 10 per cent a few weeks after the bank closed.
The Eldred Bank
The Eldred Bank of Eldred, McKean County, has suspended. It is a private institution, and the capital stock is $100,000. It is said the liabilities are $160,000 and assets about $140,000. The directors state all will be paid in full.
Pittsburgh Bank Merger
The American Deposit & Trust Co. will absorb the American National of Pittsburgh. Stockholders in the bank have the option of taking half the amount of their holdings in stock of the new trust company or all cash at the book value of the national bank. The American National’s capital was $400,000, surplus $200,000, deposits $550,000 and undivided profits $22,587. The American Deposit &