[Volume XXVII
THE CHICAGO BANKER
26
stock in the Clearfield National at Clearfield which was only last week approved by the comptroller of the currency upon its change from a state to a national institution. Grant McPherrin, who is president of the new bank, states that Mr. Miller is the only non-resident stockholder. Mr. Miller expects to give the re-organized bank much of his personal attention. The bank, known as the First National of Clearfield, has a capital stock of $25,000. Grant McPherrin is president; C. W. Edwards, vice-president; C. C. Carlston, cashier.
Another Pioneer Banker Dead
Hardly a week passes in Iowa that some pioneer banker is not called by death. Last week, I told of the death of G. S. Van Vetchen at Cedar Rapids. This week, Iowa bankers are mourning the death of J. H. Barnum, who was for many years connected with the First National of Clinton. Mr. Barnum died at the age of 83. He was an early settler of Clinton and prominent in the business growth and development of that city.
Official Changes in Iowa Banks
Several changes are noted among employees and officials in Iowa banks within recent dates. Among them are the choosing of O. W. Mey-haus as cashier of the Sunbury Savings; the election of J. M. Shelton as president of the Farmers National at Allerton succeeding Jasper McCoy, deceased; the election of Joseph Edgerton as vice-president of the First National at What Cheer, succeeding John Schott, deceased; the election of J. A. Bradley as president of the First National at Eldon, succeeding D. C. Bradley; the election of M. E. Southwick as cashier, and Emma Stolley as assistant cashier for the Moville State at Moville; the election of Guy A. Lee as cashier of the Exchange Bank at Stuart.
G. S. Parker Recovers from Accident
Bankers at Des Moines are conjecturing somewhat upon a recent announcement from Sioux City to the effect that George S. Parker, president of the Live Stock National of that place, had the misfortune to break one of his toes while attending the A. B. A. convention at Chicago. He was able to be out for the first time last week. In the absence of details, Des Moines friends of the popular Sioux City banker are forced to conclude that Mr. Parker must have been stepping high while doing Chicago and thus met with this unusual misfortune.
Recovers from Serious Operation
R. T. Wellslager, of the Central State, the oldest banker in Des Moines in length of service, was discharged from the hospital and permitted to go to his home Saturday of last week. Mr. Wellslager underwent a serious operation and his friends are pleased that he has come through the ordeal without serious results.
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The Farmers Savings of Gaza, filed articles with Secretary of State Hayward. It is capitalized at $10,000. President is H. B. Lake; vice-president, Frank Martin; cashier, C. F. Reif-stack.
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it contains anything about Iowa Banks or Bankers. The favor will be appreciated.
Des Moines, October 14.—The Des Moines Bankers Club at its first meeting following the summer rest, elected J. G. Rounds, president of the Citizen’s National of Des Moines, as president of the club for the ensuing year, succeeding G. D. Ellyson of the Commercial Savings. Charles T. Cole,. of the Valley National, was elected vice-president. A. O. Hauge, cashier of the Iowa Trust & Savings, was chosen secretary and treasurer.
The meeting was an important one for the question of employing an examiner who shall reside in Des Moines and devote his time to examination of the banks which belong to the local clearing house association, was discussed and it was the sense of those present that this step would be a wise one. Without making any definite arrangements along that line it seems safe to predict from the views of the bankers present that a Des Moines clearing house examiner is not far off. The bankers enjoyed this opening meeting immensely from the fact that it was held in the new hotel at Colfax, to which the company went in a special car.
To Form Bank Clerks’ Union
There is a movement on foot among the bank clerks of Des Moines to form a union or organization which shall have for its purpose the regulation of hours and wages. The matter has been taken up informally with the Trades and Labor Assembly, and the question of affiliation with that body has been discussed as to practicability and eligibility. The bank clerks feel that there should be some standard as to length of hours they should put in per day and the wages they should receive. In the meantime there is little talk heard here of the re-organization of the local chapter of the American Institute of Bank Clerks. This organization was allowed to die out last year, and thus far no movement has been made to get it on its feet for the coming season.
Considering Building Larger Quarters
The Central State Bank is negotiating for a site upon which it shall erect a handsome new building, similar in design and construction to the new home of the Des Moines National at Sixth and Walnut streets. Since Simon Casaday joined the Central State and was made president, the business of the institution has shown a remarkable growth and larger quarters are considered as absolutely necessary. It is stated in real estate circles that the bank may build on Fifth Street opposite the Mechanic’s Savings, but the bank has made no definite announcement as to this. It is probable that the building is yet some months away. At present the white terra cotta is considered as the material of which the new structure shall be made.
J. A. Young to Resign Cashiership
John Alex Young, who has been cashier of the Washington National at Washington for thirty-one years, has given notice that on January 31st he will retire from that position. Mr. Young started in with the bank as assistant cashier in 1874, and four years later was made cashier. The institution is one of the prosperous banks of southeastern Iowa. It has deposits of $900,000 and a surplus of $100,000. As a mark of appreciation, the board of directors will pay Mr. Young his cashier’s salary from the date of his retirement until July 1st.
H. A. Miller Interested in Clearfield National
Homer A. Miller, of the Iowa National, Des Moines, has purchased a goodly bunch of the
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