THE CHICAGO BANKER	[Volume XXVII
			
The Audit Company			Marshall & Ilsley Bank
of Illinois			Milwaukee, Wis.
			ESTABLISHED 1847
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President—Manager			OFFICERS AND DIRECTORS
			JAMES K. ILSLEY, President
REFERENCES:			JOHN CAMPBELL, Vice-President HARRY J. PAINE, Asst. Cashier JOHN H. PUELICHER, Cashier G. A. REUSS, Mtfr. South Side Branch SAMUEL H. MARSHALL J. H. TWEEDY, Jr.
Leading Bond Houses dealing in Gas, Electric and Railway Securities			ROBERT N. McMYNN C. C. YAWKEY GUSTAV REUSS
			
California Banking News
By WILLIAM J. HOLLISTER
them, and their opinions were unanimous that the new law, if properly administered, was ideal, and that depositors would have no reason to worry about their savings.”
Merchants National
At a meeting of the board of directors of the Merchants National Bank of Los Angeles, Charles G. Greene, vice-president of the First National Bank of Long Beach, was elected cashier of the Merchants National.
Bank Commissioners Appointed
Superintendent of Banking Anderson announced the following appointments: Charles Ewing, chief deputy; B. F. Wright, examiner; W. C. Watson, examiner; H. E. Sherer, examiner; S. F. Young, examiner; W. S. Vaw-ter, examiner; S. M. Lorentz, G. Chuna and Mrs. M. E. Pratt.
Installs Burglar Alarms
The Bank of Pacific Grove, Monterey, has had installed one of the most complete burglar alarms on the Pacific Coast. A trial of the system has been made, and the work accepted.
Increases Capital Stock
At a regular meeting of the board of directors of the Bank of Bakersfield recently, in order to offer better facilities for their clients, it was decided to declare a dividend of $125,-000 out of the surplus to apply to fully paying up the capital stock; this will make the capital stock, fully paid, $250,000, and a surplus of $40,000. At the organization of the bank the stockholders paid in $50 per share on a par value of $100. Since that time the corporation has paid $100,000 in dividends, the capital stock is fully paid and in addition there is a surplus of $40,000.
Elects Officers
At the annual meeting of the stockholders of the City and County Bank of San Francisco the' following officers and directors were elected for the ensuing year: President, A. J. Lowenberg; vice-president, L. V. Merle; cashier, A. Tonn; assistant cashier Joseph L. Goldsmith. Directors: Matthew Nunan, Otto A. Jungblut, M. Auerbach, C. A. Malm, A. J. Lowenberg, L. V. Merle and A. Tonn. The usual semiannual dividend of $2.50 per share was declared, payable on July 15th.
The FEerman Safe Co. is installing the fire and burglar proof vault for the City and County Bank. This will be one of the finest pieces of bank work in San Francisco.
total increase over the first six months of last year totals $80,850,246. While the gain over 1907 is not large, the figures show that more business is being transacted now than ever before in the history of the city, and the gradual increase in the monthly totals indicates that the twelve months of the present year may be the best in the annals of Los Angeles.
Will Occupy New Building Soon
President Lansdale of the Bank of Burlingame states that the new bank building will be occupied about August 15th. Contracts have been let for the fixtures, which are to be very handsome.
New Loan Company Organized
An organization to be known as the Bankers’ Guarantee-Loan Co. on June 22d succeeded to the business heretofore conducted under the title of the .Southwestern Mortgage, Loan and Trust Co. of Los Angeles. The new company will do a general investment and building and loan business throughout California under the jurisdiction of the state building and loan commission. The subscribed capital will be about $75,000. H. P. Spencer is president of the new corporation.
Double Capital of Bank
At a meeting of the board of directors of the Placer County Bank of Auburn, recently, it was decided to increase the fully paid-up capital of the bank from $50,000 to $100,000. The resources and liabilities of the bank amount to $550,000.
In New Home
The Savings and Trust Co. of San Mateo County and the Redwood City Commercial Bank are comfortably housed in their elegant new quarters at corner of Broadway and Washington.
Bankers Like New Law
“Eastern bankers and financiers are of the opinion that California now has an excellent banking law,” said Alden Anderson, superintendent of banks. “They made a careful study of the copies of the law that I submitted to
Bids have been opened and the contract has been let for the construction of a new bank building for the First National of San Jose. The new building will be nine stories in height, and when completed will be the tallest building in the city. The work of tearing down the present bank building will begin at once. The new building will be class-A fireproof, with steel-frame reinforced by concrete walls. The first floor facing will be of granite, the other eight stories of brick and terra cotta. The latest up-to-date improvements and conveniences will be used in the arrangements, and it is safe to say that when the finishing touches have been put upon the new building it will stand comparison with any similar structure in the United States.
Contra Costa County Bank
At the meeting of the board of directors of this bank, held on June 28th, a dividend of 4 per cent per annum was declared on savings deposits for the last six months, ending June 30th. There was also declared a dividend to stockholders at the rate of 6 per cent per annum. A substantial amount was also placed to surplus fund. The business of the bank for the last six months, notwithstanding the prevailing general condition, was very satisfactory.
Moves to New Location
The San Francisco National Bank, which has been located in the Merchants Exchange building since the fire of April 18, 1906, and which has been the owner of the former site of the London and San Francisco Bank, California and Liedesdorff streets, have moved to the latter location.
Los Angeles Clearings Increase
An increase of more than $80,000,000, compared with the figures for the same period last year, is shown in the Los Angeles bank clearings for the six months ending June 30th. Compared with the clearings for the first half of 1907, the figures show an increase of $4,-169,882. Since January 1st the clearings have shown a steady gain each month until the