[Volume XXVII
THE CHICAGO BANKER
26
walk. Mr. Watt, Mr. Sullivan and O. D. O’Donnell were elected directors.
Promoted to Assistant Cashier
F. L. Walker, receiving teller of the Mechanics Savings Bank of Des Moines, has been promoted to assistant cashier of that institution. Mr. Walker was formerly with the Central State, of Des Moines, but resigned because of ill health and went to Washington. Since his return to Des Moines, he has been with the Mechanics Savings Bank and his promotion places him among the youngest bank officers in the city.
No Bidders for Bonds
Much to the surprise of the city council at Waterloo, $400,000 bonds for a new water works were not sold when offered. No bidders appeared, and City Treasurer Miller will readvertise. The bonds were to bear 4 per cent and all of the leading bond houses in the country had been informed of the sale. The failure of any of them to bid caused not a little surprise in Waterloo.
Changes in Bank Officers
Several bank changes are reported in Iowa banking circles within the past few days. Frank Brown has been elected cashier of the bank at Bevington; O. M. Weber has been made president of the Bradford Savings; H. A. Tucker succeeds James F. Barrett as cashier of the Citizens State at Dunlap; N. E. Isaacs, vice-president of the First National at Thompson, has been made cashier of the First National at Lake Mills; Thomas Ashton has been made cashier of the Farmers and Merchants Savings at Lone Tree.
Reserve Agents
The comptroller of the currency announces several reserve agents as follows: Commercial National of Cedar Rapids, reserve agent for the First National at Strawberry Point; First National of Omaha for the First National of Corning; Cedar Rapids National for the First National of Hartley; First National at Omaha for the First National at Prescott; Commercial National of Chicago for the First National at Armstrong; Nebraska National at Omaha for the Farmers National at Hamburg.
Des Moines Visitors
Among Iowa bankers who were in Des Moines last week were: President J. C. Dutton of the Farmers of Nevada; Vice-President Frank Hopkins, of the First National of Guthrie Center; President M. M. Head, of the First National of Jefferson; George Messenger, of the Linden Savings; J. T. Brooks, of Hedrick, former president of the Iowa Bankers Association; Cashier Tames Burgess, of the Citizens of Milo.
Banking Notes
John Woodbury, for twenty-five years president of the First National at Marshalltown, is critically ill with chronic gastritis. Mr. Woodbury is a pioneer business man at Marshalltown and is well known throughout the state in banking circles.
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it con• tains anything about Iowa Banks or bank• ers. The favor will be appreciated.
Des Moines, July 14.—Because of existing weather conditions, Iowa financiers are not a little perturbed as to the outcome of the crops this year. Iowa is essentially an agricultural state. Financial matters are regulated largely by the crop yields. This year, while corn, which is Iowa’s largest crop, got a fine start, the rains of the past week or ten days have materially altered the aspect. While the state crop reports indicate that the corn crop is perhaps as good as it was last year, others who have traveled over Iowa say that the contrary is true. They say that the outlook for corn is not up to the standard. There is grave doubt expressed as to what the ultimate result will be. Should Iowa’s corn crop fail, Iowa bankers will feel the effect probably as quickly as those engaged in any other line of business. The state has suffered a lot from washouts which have considerably hampered business.
Embarks in Real Estate Business
C. Shonaker, vice-president of the First National of Newton, has embarked in the real estate business in Des Moines. Mr. Shonaker has purchased a string of flats in East Des Moines, on East Walnut Street, between Eleventh and Twelfth. The consideration was $30,000. In addition to the flats, Mr. Shonaker acquires the title to several small frame buildings which were on the site located on. The property is within the district which the state is considering purchasing to make additional grounds for the state capitol building. Should the legislature determine to buy the tract the value of the property will probably be greatly increased.
Entertains Golf Club
Des Moines entertained the past week, the Trans-Mississippi Golf Association. This tournament is the biggest golf meeting held in the middle West. Several leading bankers attended the play, among whom were Joseph T. Talbott, vice-president of the Commercial National of Chicago, and E. L. Swiney, president of the First National of Kansas City. These men were matched to play with Edward C. Finkbine and Homer A. Miller of the Iowa National, both of whom are considered somewhat above the average golf players.
B. F. Kauffman Elected Director
B. F. Kauffman has been elected on the board of directors of the Iowa National of Des Moines. Mr. Kauffman is a member of the fire insurance and real estate firm of Witmer & Kauffman. He is comparatively a young man and is the son of B. F. Kauffman, Sr., who succeeded H. K. Love as president of the Iowa National half a generation ago. The election of Mr. Kauffman was to fill the vacancy caused by the death of Edward A. Temple last winter. Mr. Kauffman was born and raised in Des Moines and is a young man of strong personality, and very popular with Des Moines business men.
New Bank at Norwalk
Three Des Moines men are leading movers in the organization of a new bank at Norwalk, la. They are James Watt, Jerry B. Sullivan and J. C. O’Donnell. This institution will be known as the First Savings Bank of Norwalk. It is capitalized at $10,000. Mr. Watt was chosen president of the new institution. W. R. Dickson is vice-president and E. E. Guthrie, cashier. The latter two are residents of Nor-