[Volume XXVII
THE CHICAGO BANKER
20
MECHANICS-AMERICAN NATIONAL BANK
OF ST. LOUIS
CAPITAL $2,000,000	SURPLUS $2,500,000
Superior Facilities Offered to Correspondents
WALKER HILL, President	L. A. BATTAILE, Vice-President	J. S. CALFEE, Cashier	G. L. ALLEN, Assistant Cashier
JACKSON JOHNSON, Vice-Pres. EPHRON CATLIN, Vice-President	G. M. TRUMBO, Assistant Cashier P. H. MILLER, Assistant Cashier
KNAUTH, NACHOD & KÜHNE, Bankers
NEW YORK
Travelers' Checks
in denominations of $10, $20, $50 and $100
Furnished to Banks and Bankers for direct sale to Travelers
INVESTMENT SECURITIES
LEIPZIG, GERMANY
Letters of Credit
in Pounds Sterling, Dollars, Marks and Francs
Pacific Northwest Banking News
west corner of Monroe Street and College Avenue, a two-story brick building and a site 120 by 142 feet and the Electric Hotel on Monroe Street. Mr, Huntley, Mr. Thies and Mr. Hie-ber organized the Inland Realty Company four years ago. Mr. Huntley paid in $31,500. He has earned 10 per cent a year on his investment, besides selling at a profit of more than $40,000.
Broughton National
Broughton’s National Bank at Dayton, Wash., capitalized for $50,000 and opened a few days ago, is doing excellent business. It has a lot of capital back of it and the officers say the bank intends to promote every industry tending to develop this section. All of the stockholders have lived in Columbia county for more than a quarter of a century. Charles J. Broughton, a wealthy grain dealer, is president; J. L. Dumas, president of the Washington State Horticultural Society, vice-president, and A. P. Cahill, cashier; S. Z. Varnes, of Walla Walla is assistant cashier. The quarters in the bank building are nicely furnished and a modern steel vault has been installed. These are the stockholders: Charles J. Broughton, Miles C. Moore, ex-governor of Washington; J. L. Dumas, A. P. Cahill, W. E. Cahill, David Barclay, J. A. Anderson and John Bles-singer.
Returns from an Eastern Trip
Harry A. Flood, president of the Trustee Company of Spokane, has returned from a trip to eastern citie־s, including Chicago, Washington, New York, and Philadelphia, where he made a study of real estate and rental values. He said: “I am confident that you will see a much larger influx of people to Spokane and other cities of the Northwest during the latter part of August and September than ever before. I believe also that much capital will be invested in the Inland Empire. It was pleasing to note the interest the large financial institutions of the East are taking in the Pacific Northwest.”
modern lines, loans on them have proved among the most attractive securities that Peabody, Houghteling & Co. have handled and Mr. Smith says that it has not lost a dollar in that class of investments.
Sells Interest in Realty Company
Wiliam Huntley, vice-president of the Exchange National Bank of Spokane, has sold his one-eighth interest in the Inland Realty Company to John Hieber for $72,000. By this purchase Mr. Hieber becomes sole owner of the company. He bought a one-eighth interest held by Charles Thies a year ago for $62,000. On the basis Mr. Huntley sold, the company’s property is worth $576,000. It consists of the Real Estate Building at Main Avenue and Stevens Street, a two-story building and a site 120 by 142 feet; the Bennett Block, at the northeast corner of Howard Street and Main Avenue, a two-story building with a 90-foot frontage on Main Avenue, 70 feet on Howard and the east 30 feet running back 142 feet; the Bodega Block, at the north-
Foreman Bros. Banking Co.
no LaSalle Street CHICAGO
CAPITAL AND SURPLUS
$ 1,500,000
ESTABLISHED 1862
INCORPORATED AS A STATE BANK 1897
Officers
EDWIN G. FOREMAN, Pres. GEORGE N. NEISE, Cashier OSCAR G. FOREMAN, V. P. JOHN TERB0RGH. A. Cash.
Spokane, Wash., July 21.—One hundred and sixty thousand dollars in dividends was distributed by the Exchange, the Traders, the Old National, and Fidelity banks and the Washington Trust Company of Spokane among its stockholders as earnings for the first six months of 1909. The Traders leads, with a semiannual dividend of 10 per cent on $600,-000 capital, or $60,000. This is at the rate of 20 per cent a year on the par value of the stock. The Exchange paid 5 per cent on its capital of $1,000,000, or $50,000. This is the 25th semiannual dividend this bank has distributed, amounting to more than $1,000,000. The Old National declared a dividend of 2V2 per cent on the $500,000 capital stock, which was the amount of the capital stock for the first three months of the year, and 21/¿ per cent on $1,000,000 to which the capital stock was increased. The bank distributed $37>500• The Fidelity declared its regular 43d semiannual dividend of 4 per cent on its capital stock of $200,000, amounting to $8,000. The Washington Trust Company declared its 16th semiannual dividend of 5 per cent on its capital of $100,000, amounting to $5,000. Investigating Investment Propositions
George Peabody and Alexander Smith, executive partners of the firm of Peabody, Houghteling & Co., of Chicago, were in Spokane several days this week, investigating a number of propositions, involving large investments in local securities. Apartment house mortgages up to 50 per cent of tire cost of the property are being considered and arrangements now pending for placing such loans here contemplate the issuance of bonds in $500 denominations for sale to Eastern investors. Mr. Smith was much impressed with the residential portions of Spokane, and the relatively high income from apartment houses also interested him. Many of the buildings here average $10 a room a month, while in Chicago, he said, the average return is around $7 a room, and total operating costs are $3 a room a month. With apartment houses built along