THE CHICAGO BANKER
September 18, içoç]
THE OLDEST BANK IN SOUTHWESTERN LOUISIANA
COLLECTIONS
WITH US ARE NOT TREATED AS A SIDE LINE MAY WE SERVE YOU?
FIRST NATIONAL BANK
ESTABLISHED ¡N I889
Lake Charles, Louisiana
GEO. LOCK L. KAUFMAN N. E. NORTH
President	Vice President	Cashier
The Leading Trust Company of Indiana
Rie
Union Trust Company
of Indi ana ft olis
Capital, .	.	$600,000
Surplus and Profits, 500,000
DOES ALL MANNER OF TRUST BUSINESS
Directors
£-■ Barnes	Addison C. Harris
C. H. Brownell	John H. Holliday
Thomas C. Day	Volney T. Malott
t	Augustus L. Mason
I C. Elston	Edward L. McKee
William A. Guthrie Samuel E. Rauh
Officers
JOHN H. HOLLIDAY. President HENRY EITEL, Vice President H. M. FOLTZ, 2nd Vice Prest. and Treas. CHARLES S. McBRIDE, Secretary GEORGE A. BUSKIRK, Probate Officer
strength and stability of the corporations here represented at this convention time. In this fact there is reason for much congratulation, there is cause for every encouragement. May the growth and abounding success of the trust companies continue in other years—and always!”
Secretary Farnsworth
Secretary Farnsworth reported 10,682 members of the A. B. A., the three big states being New York, 865 ; Pennsylvania, 796, and Illinois 738.^ After these topliners come Ohio, 451 ; California, 406; Missouri, 361 ; Iowa, 385 and Minnesota, 338. There was a gain for the year of 1,639. I he income of the association is $176,000 per year, and 1 reasurer P. C. Kauffman carries $120,000 in bonds. The protective committee spent $45,000. In concluding Mr. Farnsworth says :
It would not be possible to carry on so vast an organization as ours successfully and make the progress that has been made if your secretary did not have the hearty support of the executive officers, committees and members, and I desire to express my sincere thanks for the uniform courtesy and able assistance I have received from President Reynolds, Vice-President I îerson and Chairman Watts. These gentlemen have been ever ready to respond to every call upon them which was in the interest of the association, and Treasurer Kauffman has been a live, energetic and enthusiastic official, co-operating with the general offices at all times in furthering its welfare. I want to emphasize particularly the work of the executive council, the vice-presidents of the various states, and the sec-
L. A. MERGEN
Assistant Cashier German National, Beloit, Kansas
tional banks. The entire record is a gratifying one. The figures, and in particular those of the present season, are a demonstration of the
the custody of financiers, banks, trust companies, etc. Many hundreds of men of affairs that read The Chicago Banker will be pleased to know that the subject matter of this article was furnished by the president of Safe-Cabinet Sales Co., 280 La Salle St, Chicago, whose photograph appears on this page.
,V»
Trust Company Growth
The trust companies in America have increased from less than one thousand in 1904 to fifteen hundred in 1909. Resources in the same time have gone up from three billions to $4,609,088,-800.50, figures which are eloquent of the usefulness of this new form of banking. In Edward T. Perine’s address before the trust company section he said, in conclusion:
“ rhe growth of the trust companies since 1904, enormous as regards the older institutions and substantial in the case of the newer ones, is clearly proven by the summaries made of each year's figures. With a volume of wealth nearly approaching 5 billions of dollars, the entire number of trust companies are approximately equal in size to the national banks of ten years ago, the fact being that 3,583 national banks reported on June 30, 1899, to the comptroller of the currency that their total resources and liabilities were 4 billions 708 millions, or only 99 millions of dollars more than the total wealth of the trust companies of to-day. During five years past the percentage of increase in the total resources of the national banks has been 42 per cent, that of the trust companies 47 per cent. To-day the deposits of the trust companies, exclusive of amounts due other banks, are a sum approximat-ing 70 per cent of the same liability on the part of the national banks; while the total resources of the country’s 1,496 trust companies are nearly 47 per cent of those of the country’s 6,926 na-