13
THE CHICAGO BANKER
August 7, !pop]
William A. Tilden President
Nelson N. Lampert Vice Prest.
Henry R. Kent Cashier
George H. Wilson Asst. Cashier
Charles Fernald Asst. Cashier
Colin S. Campbell Asst. Cashier
MONROE ANO CLARK STREETS
C H I C A G О
Capital, $1,000,000 Surplus and Profits, $400,000
Your Business Solicited
THE
LIBERTY NATIONAL BANK
OF NEW YORK
FREDERICK B. SCHENCK, President
CHARLES W. RIECKS Vice-Pres. & Cashier
FRED’K P. McGLYNN
Ass’t Cashier
HENRY S. BARTOW
Ass’t Cashier
DANIEL G. REID
Vice-President
Z0HETH S. FREEMAN
Vice-President
HENRY P. DAVISON Chairman Ex. Com.
CAPITAL, SURPLUS AND UNDIVIDED PROFITS
S3,500,000.OO
“string” banker. J. S. Pomeroy, cashier of the Security National, and F. E. Holton, cashier of the Northwestern National, will attend the convention. Mr. Holton has been at White Salmon, Wash.
Bank Examiner Changed to Old Post
J. L. Root, formerly national bank examiner with headquarters in Minneapolis, has been reassigned to the Twin City territory, after having served for several months in Pennsylvania. Mr. Root’s return will result in the renewal of a pleasant acquaintance with the banking officials here.
New Bank for Stillwater
The Farmers’ & Merchants’ State Bank at Stillwater, a suburb of St. Paul, will begin business on September ist. Several Stillwater men, including Emil J. Sandeen and J. F. Thoreen, railway contractors, and J. Q. Mackintosh, will be among the backers. Andrew Anderson of Springfield is to be president. The cashier will be chosen from a state bank in Minnesota.
53,000 Savings Accounts
One to every six persons in Minneapolis have savings deposits in the banks here. This is more than the proportion shown in Denver or Kansas City. More than 53,000 savings accounts is the record. This does not include the savings accounts of the school children. The last statement of the Farmers’ & Mechanics’ Bank shows $11,-838,404 in deposits, an increase of half a million since the first of the year. Only once in ten years has the record been equaled. The other gain was in October, 1902. “The most encouraging feature of the last half year’s business is that accounts which started with only small sums are growing rapidly. It indicates that Minneapolis is not only growing, but its citizens are also becoming richer all the time,” says Treasurer N. F. Hawley.
A new bank building is to be erected by the Guarantee Trust and Banking Company at Atlanta, Ga.
Arnold Elzey Waters was elected vice-president of the National Bank of Cockeysville, (Md.) to succeed H. E. Bartleson.
The Unadilla (N. Y.) National has been organized with a capital of $25,000.
Broadway, N. C.—A. W. Huntley was elected president; M. A. McLeod, vice-president; D. E. Shaw, cashier, of the new Bank of Broadway. The institution has a capital of $50,000.
The re-arrangement will include the establishment of an officers’ row.
Take Advantage of New Law
J. A. Latta, vice-president of the Northwestern National Bank, has given notice to the ways and means committee of the city council that this bank will deposit certain county, city and state bonds in lieu of surety bonds on file covering the deposit of city moneys. The surety companies have raised their rates and the banks are going to take advantage of a new state law. This law permits the banks to make this substitution for surety bonds, which under the old law had to be double the amount of the deposits. The new law requires only a deposit of bonds equal to the amount of money held for the city. The ways and means committee by resolution will accept federal, Hennepin county and Minneapolis bonds. The city attorney has ruled that the banks which do not wish to cancel their surety bonds may cancel the amount in excess of the deposits on hand. The banks are paying $5 a thousand for surety bonds.
Several Bankers Out of Town
Joseph Chapman, Jr., vice-president of the Northwestern National, has gone to New York on business. Before leaving, Mr. Chapman invested a large sum of money in down town real estate. The market is advancing and is proving a lucrative field of profit. Hitherto the bankers have not taken much interest in real estate for personal investment. George F. Orde, cashier of the First National, has gone to the Montana convention to read a paper on “The Moral Reputation of a Banker as an Asset of His Bank.” He was accompanied by H. N. Stabeck, a
MR. CASHIER— Over 3500 Banks
have adopted and are using our
“Perry Triplicate Telegram Blanks”
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; ■ ■	: ,	- CD Message Sheet
J:	— ,	/	(for Teirgr.ph Company)
־®Copy for Record
^	iRemâM» ■״ Podi
Ш'Л у)Confirmation Copy
Nslf /Ni/	(to MoJ Conrapundeni)
3 COPIES
1 WRITING
I CARBON SHEET
A system arranged by Ernest J. Perry, cashier First National Bank of Fond du Lac, Wis., which enables you to—Write a telegram; Make a 2nd copy for your office record; Make a 3rd copy to mail your correspondent—all three copies made at 1 writing with 1 carbon.
This saves copying your message in a letter book, saves •writing a letter confirming your telegram. Easy to refer to former messages and check your telegraph bills.
Let us send you sample sheets of blanks for use with typewriter, also blanks for pencil use. They are free PERRY BOOK & BINDERY CO., 1st Nat’l Bank Bid¡?., Fond du Lac,Wis.
W. W. Churchill—Blue Earth, 12; Faribault, 9; Waseca, 5; Freeborn, 13; Steele, 3; Dodge, 5; Mower, 9; Olmsted, 3; Fillmore, with Plain-view and Elgin, 15; Winona, 8; Houston, 5; Total, 87.
H. B. Hill—McLeod, xi; Renville, 14; Sibley, 9; Nicollet, with New Ulm, 7; Carver, 10; Scott, 4; Le Sueur, 9; Rice, 6; Dakota, 4; Goodhue, 10; Wabasha, except Plainview and Elgin, 7. Total, 91.
W. R. O’Heairn—Wright, 24; Meeker, 9; Kandiyohi, 8; Swift, 9; Chippewa, 7; Lac qui Parle, 8; Yellow Medicine, 9; Big Stone, 7; Stevens, 5; Pope, 7; Traverse, 2. Total, 95.
O. J. Brandvold—Grant, 7; Douglas, 8 ; Todd, 6; Morrison, 7; Mille Lacs, except Princeton and Milaca, 2; Wilkin, 6; Otter Tail, 19; Wadena, 2; Crow Wing, 4; Aitkin, 1; Cass; Hubbard, 3; Beltrami, part, 2; Koochiching, 4. Total, 73.
F. E. McGregor—Clay, 7; Becker, 6; Norman. 8; Mahnomen, 6; Clearwater, 2; Polk, 16; Red Lake, 7; Marshall, 12; Kitson, 11; Roseau, 7; Beltrami, Baudette, 2. Total, 84.
A. L. Roth—Washington, 3; Anoka, 2; Sherburne, 5; Stearns, 19; Benton, 3; Mille Lacs, Milaca and Princeton, 3; Isanti, 2; Chisago, 7; Kanabec, 3 ; Pine, 8; Carlton, 3 ; St. Louis, 11; Itasca, 5; Lake, 3; Cook, 1. Total, 78.
To Sell Former Bank Building
Stockholders of the National Bank of Commerce will be informed by letter that it is advisable that the Bank of Commerce building be sold to wind up the affairs of the corporation which was absorbed on June 9, 1908, by the Northwestern National The stockholders, 160 in number, will have a prorate interest in the resrxlts of the sale of this building with other pieces of real property. Rumors have been rife as to the disposition of the building which the announcement of the proposed sale like that of another property in the city will be quieted. The building is worth something like $350,000. It is all rented except the banking room recently vacated by the Farmers’ & Mechanics’ Savings when it removed to its new building. The Union State Bank’s new quarters near the center of the financial district are ready to occupy. They are in a former club building which has been remodeled, the first floor and basement made into ideal banking rooms. Cashier J. S. Pomeroy is figuring some changes in the Security National Bank’s internal arrangement. More room and light, as well as convenience, will be obtained.