[Volume XXV
THE CHICAGO BANKER
26
$5,785,469.85 in the state and savings banks and the trust companies of the state. This is the best condition the banks have ever shown except at the period just preceding the panic. It covers the condition of 597 savings banks, 261 state banks, and fourteen trust companies. Since December 3, 1907, there has been an increase of 47 in the number of state and savings banks. Between November 23d, the date of the last call, and August 14th, the date of the call just preceding, there has been an increase in deposits in the banks alone of $3,354,654.67, an increase in the total assets of the institutions of $4,610,033.19. Total deposits foot up to the enormous sum of $205,221,919.79. The average reserve in all the banks November 23, 1908, was 19.7 per cent; totals due depositors from each of the banks included in the report are savings banks, $138,586,972.98; state banks, $60,144,741.16; trust companies, $6,490,205.65. Iowa National Banks
The abstract of the condition of the national banks of Iowa, exclusive of the reserve cities at close of business November 27th, as reported to the Comptroller of the Currency, shows an average reserve of 16.73 Per cent, against 16.85 on September 23d. Loans and discounts increased from $85,836,383 to $87,269,695. Gold coin decreased from $2,610,380 to $2,514,750. Lawful money reserve from $7,356,525 to $7,-115,600. Individual deposits from $84,992,626 to $84,771,065. The national banks of Des Moines show an average reserve held at 21.88 per cent, as against 22.68 per cent. Loans and discounts decreased from $10,576,236 to $10,-510,933. Gold coin increased form $456,930 to $489,692. Lawful money reserve decreased from $1,364,957 to $1,283,298. Individual deposits decreased from $5,407,184 to $5,193,472. The abstract of the conditions of the national banks of Cedar Rapids shows the average reserve held at 19.76 per cent, as against 19.44 per cent on September 23d. Loans and discounts increased from $4,539,071 to $4,743,502. Gold coin from $105,855 to $113,670. Lawful money reserve $406,264 to $448,305. Individual deposits decreased from $2,202,257 to $2,-168,078.
The New Auditor
Auditor of State elect J. L. Blakeley, who takes the place of Auditor Carroll the beginning of the year has announced his appointments in the banking department for the coming year. Chief clerk in the banking department is F. E. Roberts, of Jasper county. Security clerk is C. B. Ellis, Monona county. General clerk is B. P. Rosser, of Davis county. Clerk in banking department, F. J. Alber, of Polk county. Bank examiners, H. M. Cormany, of Harrison county, I. M. Sprouell, of Washington county and Charles E. Putnam, of Linn county. Two bank examiners are still to be named.
Stirred Up Political Contest
The naming of a national bank examiner to succeed E. B. Shaw, who died recently at Carroll, has stirred up a political tempest in Northern
ganize for the purpose of taking over bonds of Iowa improvements. Many banks oppose the idea unless the banks themselves are also granted trust company powers. F. F. Frost, of Des Moines, read a paper on the subject and in the course of his paper said:
“It is to-day impossible in Iowa under the existing laws to incorporate a trust company and the trust companies now existing and doing business are badly hampered for lack of any express statutory powers. Every other state in the union having any financial importance has a special statute relating to the organization, regulation, and examination of trust companies. Bonds which are sold in the East at 75 to 85 with the 25 per cent to 51 common stock bonus now come back to Iowa, minus the stock bonus, and Iowa savings banks and Iowa orphans’ estates buy them at 95 to 100. Why is it, that since Iowa money finances Iowa projects and more besides, Iowa projects have to go East to get it? I will tell you. It is because we do not have the financial machinery in Iowa clothed with adequate powers to do the work of utilizing at home the wealth we have, and consequently our Iowa money goes East to buy our local securities or seek our state investments, largely in land proportions.
Iowa Logical Field for Railroads
“Iowa is the logical field for a perfect network of interurban railroads within the next ten or twenty years. Without financial machinery at home these railroads when they do come will be backed by Eastern trust companies. Investors here in the West and the farming class whose money forms the bulk of the bank deposits fight shy of promoters out of the East and their fine prospectuses, but given a million dollar trust company in any Iowa city and let it contract to take the bonds of any of the proposed interurban roads and there is not a community in Iowa which would not cheerfully put up the required equity upon which to bond and then go farther and buy a liberal number of the bonds. The trust company would have no difficulty in selling all the bonds within the state. Before we can have trust companies we must have a trust company law.”
Completing Prosperous Year
Iowa is completing a most prosperous year and the late reports of the national and savings banks, as shown by the reports of the comptroller and auditor of state are excellent indices of that fact. The reports of the comptroller showed a decrease in deposits in the reserve cities because of the demand for money in the moving of crops, but the tide is already turning and deposits are now increasing in every national bank in Iowa.
On the other hand the state and savings banks have shown the most satisfactory condition in years and speak most openly of the first class condition in Iowa financial circles. The report of Auditor Carroll just issued, shows an increase in deposits since December 3, 1907, of
CLINTON, IOWA
Capital and Surplus, $500,000.00
Send us your Iowa and Western Illinois collections. Our service and rates will please you. BANK ACCOUNTS SOLICITED.
Des Moines, Iowa, December 24.—Iowa bankers are discussing with much interest a movement launched at a recent session of the Iowa Business League which will seek to have the legislature pass a trust company law in Iowa which will permit such concerns to or-
THE DES MOINES NATIONAL BANK
DES MOINES -	- IOWA
OUR DIRECT FIELD-STATE OF IOWcA
Capital	-	$300,000.00
Surplus 6? Profits 85,000.00 Deposits	-	4,000,000.00
ARTHUR REYNOLDS, Pre.ident JOHN H. BLAIR, Vice-President A. J. ZWART, Cashier
Citizens’Savings Bank
CAPITAL $50,000.00
DECORAH, IOWA
SPECIAL ATTENTION GIVEN TO COLLECTIONS SEND YOUR DECORAH ITEMS TO US
E.J. Curtin, President	B.J. McKay, Cashier
O. Casterton.	E. L. Amundsen,
Vice-President	Asst. Cashier
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it contains anything about Iowa Banks or bankers. The favor will be appreciated.