21
THE CHICAGO BANKER
December 26, iço8\
Bank
Surplus
$2,000,000
The Mercantile National
OF THE CITY OF NEW YORK
We offer the complete service of a safe, solid and conservative bank. Special and personal attention ¿iven to the business of banks and bankers
Willis G. Nash, Pres. Miles M. O’Brien, V.-Pres. Wm. Skinner, V.-Pres. Wm. H. Taylor, V.־Pres. Emil Klein, Cash.
Capital
$3,000,000
The new concern is to be known as the Midland Life Insurance Company of Kansas City. The Citizens Bank of Bolton
The Citizens Bank of Bolton, Mo., reports capital of $20,000, undivided profits $350, and deposits of $37,927. J. M. Shouse is president; W. J. Williams, vice-president, and W. A. Hail, cashier.
V*
W. E. Utterbach has been elected president of the First National of Bennington, Okla., to take the place of W. O. Byrd.
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his office to the Bank of Commerce. Since that time Mr. Edwards has been the active head of the Commonwealth Trust Company.
The new head of the Commonwealth Trust Company is a brother of Ben F. Edwards of the Bank of Commerce and the bond between the two institutions is strengthened by the election. A Workingman’s Bank
A meeting of those interested in the plan to establish a bank to do a loan business with workingmen and other persons in temporary financial straits was held last week at the Pioneer Trust Company of Kansas City. Those present were the Rev. Daniel McGurk, E. T. Brigham, superintendent of the Helping Hand, Walton H. Holmes, Jr., and J. C. Chafin, head resident of the Franklin Institute. Owing to the nonattendance of a number of others who have signified a willingness to help finance such an institution it was decided to adjourn the meeting until after the holidays.
The Farmers State Bank
The Farmers State Bank of Belmont, Kan., reports capital of $10,000 and deposits of $13,000. James Wilson is president, A. C. Fredick, vice-president, and D. C. Crosby, cashier.
The Missouri Savings Bank
W. S. Webb, cashier of the Missouri Savings Bank of Kansas City, announced that his banking association had closed a lease for three years on the Ninth Street ground floor of the Scarritt building. The Missouri Savings Bank will be moved there January 1st. Mr. Webb said that the institution a little later probably would move south of Tenth Street or Eleventh Street, where a new building will be erected by the banking association. The Hall building is to be remodeled at once. The rooms occupied now by the Missouri Savings Bank and the corner room will be converted into three store rooms.
Safe Deposit Vaults
The largest system of safe deposit vaults in St. Louis will be soon opened to the public use bv the National Bank of Commerce on the ground floor of the new Bank of Commerce Building at the northeast corner of Broadway and Pine streets. Bids for the installation of the boxes have been called for by the bank officials. The boxes are to be of the latest pattern and the facilities for their use will be of the most improved and comfortable character. The safe deposit vaults will, it is believed, eventually form part of the facilities of the Commonwealth Trust Company or of some other trust company affiliated with the Bank of Commerce.
Over 33 per cent of the offices in the new building have now been leased.
First National of Altus
The First National of Altus, Okla., reports capital of $25,000, surplus $25,000, undivided profits $12,348 and deposits of $209,042. J. A. Henry is president; C. C. Hightower, vice-president; J. S. Wood, cashier, and C. C. Henry, assistant cashier.
New Insurance Firm in Kansas City
The headquarters of a new life insurance company are to be in Kansas City. Daniel Boone went to Jefferson City last week to file the incorporation papers.
for Oklahoma, a gain for three months of $4,500,000 is shown in individual deposits, the amount being $29,500,000, and the total gain since the guaranty deposit law went into effect a year ago is placed at $12,000-000. Mr. Smock estimates that the forthcoming national bank statement will show less than $8,000,000 in excess over deposits in state banks, while the difference was $20,000,000 a year ago. The St. Louis Money Market
There is good demand for money in St. Louis at about the same basis as for the past week. Retail business continues active, but there is dullness in certain lines of wholesale trade. Deposits, are holding their own and funds with all the leading banks are plentiful. Rates range between 4p2 and 5P2 per cent.
Three New Kansas State Banks
Three new state banks were given incorporation papers Wednesday by the Kansas charter board. They are: The Farmers State Bank of Lucas with $15,000 capital, the Farmers and Merchants State Bank of Morganville with $15,000 capital and the Citizens State Bank of Sylvia with $10,000 capital. There are now 765 state banks in Kansas. When these three are instituted, with several others that are chartered, but not completely organized, there will be more than 770 state banks.
Bank Still without a President
If you desire to be a bank president file an application with the Commerce Trust Company. Following the recent reorganization of the National Bank of Commerce of Kansas City, Dr. W. S. Woods, president, and W. T. Kemper, vice-president of the trust company, took official positions with the Commerce bank.
“The Commerce bank requires our time and attention,” Dr. Woods said. “So we are looking for a managing president for the trust company.” C. H. Whitehead has been elected a director of the National Bank of Commerce in place of his father, the late C. W. Whitehead.
Kansas City Credit Men
The Kansas City Association of Credit Men held its regular monthly dinner at the Coates House last week, forty members being present. The speaking bore largely upon the legal phases of the credit man’s work. H. G. Moore, president of the association, presided. Addresses were made by Samuel Feller, with respect to the pending amendments to the national bankruptcy law; F. T. Burnham on the bulk sales law and Edwin A. Krauthoff on experiences in legislation. This was followed by a general discussion. Commonwealth Change
Albert N. Edwards, formerly vice-president of the Commonwealth Trust Company, of St. Louis, was last week elected president of the company at a meeting of the board of directors. Tom Randolph, former president, was elected vice-president. Both the officers had before the meeting tendered their resignations from their respective positions. The changes were made following the recent transfer of the bank and commercial deposits of the Commonwealth to the Bank of Commerce. When the transfer was effected Mr. Randolph was chosen vice-president of the Bank of Commerce. He has moved