THE CHICAGO BANKER	[Volume XXVII
26
at Davenport at 4 per cent instead of 43/2 and that is the way he turned the trick. The bonds in question had been issued by outlying school districts which were absorbed when the school districts of Des Moines consolidated a couple of years ago.
Receives a Pail of Pennies
_A pail filled with pennies was sent to Charles Liehsohn, a merchant at Buffalo Center, from an unknown in Dysart and every effort to discover the sender has proven futile. The pennies were sent by freight in a candy pail. Mr. Liebsohn counted them and found 2,740. “You are my friend. You have this coming.” This was all the writing that accompanied the shipment. Mr. Leibsohn thinks that the pennies were conscience money sent him by someone with whom he had dealt possibly in the past.
Pass through Des Moines on Honeymoon
Lloyd F. Crouch, son of P. F. Crouch, vice-president of the Commonwealth Trust Company of St. Louis, was in Des Moines with his bride last week. Miss lone Van Doren was the bride ln question. Crouch and the young woman were automobile riding near St. Louis and had stopped at a roadhouse for dinner when some one bantered them to get married. The couple had expected to wed in September, but the dare was too much for them and they were married as soon as they could get a license and a minister. Mr. and Mrs. Crouch visited in Des Moines while en route on their honeymoon to the coast.
Bank Clearings
The Des Moines bank clearings continue to make substantial gains. The increase for the week ending July 24th over the corresponding week last year was $805,805.41. The total clearings for the week were $3,195,691.32.
Commit Daylight Burglary
Burglars went through the house of John U, Plank of the Iowa State Savings at Iowa City and got away with about $100 in jewelry. The burglary was in the forenoon and the crooks were thought to be circus followers.
Des Moines Visitors
Among the Des Moines visitors the past week were President M. M. Head of the First National of Jefferson; H. M. Wilson of the Bank of La-cona; B. H. Thomas, of the State National of Iowa Falls and M. P. Palmer of the Dexter Savings of Dexter.
Banking Notes
Among changes in Iowa banks lately may be named the election of Fordyce Bisbee as cashier of the Turin bank, succeeding John Peters and the election of John Colliver as president of the West Grove Savings, succeeding L. A. Andrews.
Miss Pauline Duton, daughter of banker Dut-on of Grand Junction, had a narrow escape from death when the automobile in which she was riding with others at Jefferson got beyond control of the chauffeur, jumped an embankment, and turned turtle. John Pooley, one of the occupants of the car, was seriously injured.
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it con• talns anything about Iowa Banks or bank• ers. The favor will be appreciated.
Des Moines, July 29.—Gilger E. MacKinnon, vice-president of the Mechanics Savings of Des Monies, sums up the banking situation in Iowa most comprehensively in an interview as follows: Banking conditions in Iowa, have as a rule, been highly satisfactory during the past six months. Deposits have been abnormally high during this period and the demand for money proportionately light in the usual lines of trade. Rates on commercial paper have been too low to attract the average Iowa banker, who has heretofore been a liberal purchaser of this class of investments, and reductions in loans will be necessary. The financial troubles of a couple of years ago, however, taught the average banker to keep an abundant supply of demand loans that are really payable on demand and a line of paper maturing month by month that is paid when due and not renewed. This condition of affairs puts the Iowa banker in a position to take care of emergencies should they arise and he has to seek local loans to keep his funds active. The Iowa banker however, has been very successful in keeping his money loaned and therefore, with both deposits and loans far above normal figures, he has had a profitable half year. I predict that the next six months will be equally as profitable as the last, and when a banker is not thinking of safety he is thinking of profits, which is all perfectly proper At any rate no one needs to worry about Iowa.”
Patents Currency Cabinet
Cashier W. A. Conway, of the Conway bank, has patented a currency cabinet that is attracting much favorable attention among Iowa bankers. The cabinet is not large and can be placed in a safe during the closed hours. It will hold $10,000 in currency. Bills of all denominations are kept separately but each bill is readily available and it is almost impossible to make a mistake. Mr. Conway while in Des Moines recently closed a contract for the manufacture of the cabinet and probably it will soon be on the market.
Sells Interest in German Savings
Hon. Asmus Boysen, formerly one of the leading Iowa politicians, has disposed of his stock in the German Savings at Manning and is no longer connected with that institution. The stock was largely purchased by Manning parties. At the annual meeting of the stockholders following Mr. ^ Boysen’s sale, Gustav Jans was elected president; H. P. Hansen, vice-president; R. LI. Wheeler, assistant cashier; directors, Gustav Jans, H. P. Mundt, August Reirner, Henry Buh-mann, Henry Langel and H. P. Hansen. The position of cashier was left open for the time being.
Contest over Location of Factory
Quite a lively fight has been on between Des Moines and Waterloo over the Mason Motor Car Company factory of this city. Waterloo has been trying to induce the factory to remove to that city and F. F. McElhinney, president of the Black Llawk National Bank of Waterloo has been in Des Moines using his persuasive powers to induce the factory to make the change. At the time of writing, Senator F. L. Maytag, controlling the stock, was in a quandary.
Saves Taxpayers $13,000
John Hogan, cashier of the Commercial Savings of Des Moines and treasurer of the school district is being commended for closing a deal in the sale of school bonds which has saved the taxpayers some $13,000. Mr. Hogan paid up $130-000 in bonds, resold them to George M. Bechtel
THE
OTTUMWA NATIONAL BANK
OTTUMWA, IOWA
Capital, $100,000 Surplus, 75,000
Will render genuine service to all those having business in Ottumwa and vicinity.
J. B. MOWREY, L. E. STEVENS, R. W. FUNK, President	Cashier Ass’t Cashier
DES MOMS NATIONAL BANK
DES MOINES, IOWA
Resources (over) $5,000,000.00
State of Iowa—Our Direct Field
Excellent Collection Facilities
ARTHUR REYNOLDS, President J. H. BLAIR, Vice-President	C. A. BARR, Cashier