[Volume XXVII THE CHICAGO BANKER 10 The Wisconsin National Bank OF MILWAUKEE CAPITAL - S2.000.000 SURPLUS - 1,000.000 OFFICERS L.J. PETIT, President HERMAN F. WOLF, Cashier FRED’K KASTEN, Vice-President L. G. BOURNIQUE, Asst. Cashier CHAS. E. ARNOLD, 2nd Vice-President W. L. CHENEY, Asst. Cashier WALTER KASTEN, Asst. Cashier DIRECTORS L.J. Petit Frederick Kasten R. W. Houghton Oliver C. Fuller Herman W. Falk Geo. D. Van Dyke Gustave Pabst Charles Schriber Isaac D. Adler H. M. Thompson Patrick Cudahy Wisconsin Trust Company MILWAUKEE CAPITAL $500,000 ־ SURPLUS - 100,000 OFFICERS OLIVER C. FULLER, President GARDNER P.STICKNEY, Vice-President FRED. C. BEST, Secretary R. L. SMITH, Assistant Secretary DIRECTORS L.J. Petit, Chairman Frederick Kasten R.W. Houghton Oliver C. Fuller Herman W. Falk Charles Schriber Custave Pabst Gardner P. Stickney Isaac D. Adler H. M. Thompson Patrick Cudahy corporators are well known bankers. The casualty department will be inaugurated first, doing principally a health and accident business, but the promoters state that the company will later develop its surety business .and will insure bank deposits. V Mutual Trust and Deposit Company The Mutual Trust and Deposit Company of New Albany has increased its capital stock to $100,000. The annual election of directors resulted as follows: W. J. Goodbub, Charles Day, Charles Schwartzel, S. J. Elsby, T. J. Brown, R. W. C. Harris, James Dunbar, C. L. Balthis. The officers were re-elected. They are: A. Dowling, president; C. L. Balthis, secretary and treasurer; W. J. Receiver, assistant secretary. City Bank of New Haven The City Bank, New Haven, Conn., elected the following officers: Charles E. Curtis, presi- dent; Eli Whitney, vice-president; Samuel Lloyd, cashier, and Charles E. Cornwall, assistant cashier. New Trust Company at Sacramento The Sacramento (Cal.) Valley Trust Co. has been organized. D. W. Carmichael, president of the Sacramento chamber of commerce, and O. L. Darrow, vice-president of the Sutter National, were appointed trustees for the subscribers. Herman Davis was made manager pending final organization. ,У» Darrow Trust & Savings The Darrow Trust & Savings Bank of New Hampton, la., with a capital of $35,000, has been incorporated by W. L. Darrow, A. K. Darrow, C. C. Sheakley, H. F. Condon, and George Herb-ster. Farmers National of Opelika The new Farmers National, Opelika, Ala., has capital of $50,000. The* officers are as follows: President, G. N. Hodge; first vice-president, John D. Walker; second vice-president, J. G. Palmer, and cashier, J. E. Hackney. The directors were elected as follows: G. N. Hodge, John D. Walker, G. G. Mitchell, J. N. Torbert, J. E. Ellington, W. T. Anderson, J. E. Hackney, W. M. Pulliam, L. A. Whatley, and J. G. Palmer. Elected Cashier J. G. Tegner, assistant cashier of the Nicollet County Bank, St. Peter, Minn., has been elected cashier of the National Bank of Commerce of Mankato. V» New Casualty Company Nashville, Tenn.—The Dixie Casualty & Surety Co. of Jackson, Tenn., filed articles of incorporation here with $100,000 capital, the stock to be sold at 200 per cent, so as to create $100,000 surplus. The incorporators are: I. B. Tigrett, F. B. Fisher, R. F. Spraggins, H. E. Draper, and T. A. Lancaster. Four of the in- D.V/ JV/DHÏ ÏV. ׳J.YijMSSiTf•*¿Mi :18 : IP¡ H 1; щМ * debar active officers of banks from borrowing a dollar of its funds. How can one be an unbiased judge when personal interest intervenes to influence the judgment as to the value of security or the advisability of a loan ? While directors are sought who have had wide business experience* and whose judgment is valuable to the officers, yet their loans should be subjected to special scrutiny and no credit should be asked or extended based on claim to any special consideration by reason of that official connection. What I have had to submit to you cannot be offered as especially new or original, but there are some fundamental principles that it behooves us to iterate and reiterate, in order that they may impress themselves indelibly on your mind. The banker, while a dealer in credit, is a trustee first of all, accountable to his depositors for the safekeeping of their funds; second, to his mercantile customers, that their wants within reason are supplied; and last, to his stockholders, that out of the faithful performance of the first trust may come a modicum of profit for the capital he has invested as a guaranty to the others. We need not be ashamed of the personnel of our bankers in the Northwest, for some have gone thence to high places in the Eastern financial institutions of standing. We need not make excuses or apologize for our assets, for as long as men seek shelter there will be a market for our lumber; as long as the activity and inventive genius of our people expand the uses of electricity, there will be a market for copper, lead and zinc; so long as there are mouths to be fed, the world over heavy-ladened cargoes of wheat will go forth from our ports, cattle and hogs will furnish meat to the factory centers of the East; and' these all shall be the basis of our credits to an ever increasing degree. V• С. B. Covill is cashier of the Farmers and Merchants of Hemet.