[Volume XXVII
THE CHICAGO BANKER
20
MECHANICS-AMERICAN NATIONAL BANK
OF ST. LOUIS
CAPITAL $2,000,000	SURPLUS $2,500,000
Superior Facilities Offered to Correspondents
G. L. ALLEN, Assistant Cashier P. H. MILLER, Assistant Cashier
J. S. CALFEE, Cashier
G. M. TRUMBO, Assistant Cashier
L. A. BATTAILE, Vice-President EPHRON CATLIN, Vice-President
WALKER HILL, President JACKSON JOHNSON, Vice-Pres.
KNAUTH, NACHOD & KÜHNE, Bankers
LEIPZIG, GERMANY
Letters of Credit
in Pounds Sterling, Dollars, Marks and Francs Furnished to Banks and Bankers for direct sale to Travelers
STMENT SECURITIES
NEW YORK
Travelers’ Checks
in denominations of $10, $20, $50 and $100
I N V E
time having expired without the capital being replaced, Anderson closed the bank. No capital lias since been secured, but the management paid in $io,ooo, as required, and was permitted to reopen.
Bank of California Declares Dividend
The directors of the Bank of California, San Francisco, declared a dividend of 4y2 per cent a share for the past quarter on the 40,000 shares of capital stock of the bank. This is an increase of ]A of 1 per cent per quarter, or from 16 to 18 per cent a share per year. The bank has been paying 4 per cent quarterly dividends since 1900. National Bank of San Mateo
The National Bank of San Mateo opened for business October 2d. The building is the same that has been occupied by the Bank of Burlingame since its opening. On the same day the Bank of Burlingame proper opened for business in its own building. The San Mateo business of that bank will be turned over to the National Bank of San Mateo which will also conduct a branch of the Burlingame institution. The National Bank of San Mateo was organized during the past summer and is capitalized at $50,000. The officers are as follows : Geo. F. Lyon, president; P. M. Lansdale and John Wisnom, vice-presidents ; E. W. Howard, secretary. The officers of־ the Bank of Burlingame are:	P.
M. Lansdale, president; George F. Lyon, vice-president; John Wisnom, secretary.
Security Bank and Trust Company
The annual meeting of Security Bank and Trust Company of Oakland, was held recently. The report of the several officers for the past year showed gratifying progress, and among these was the following financial statement: Resources—Loans, $554,587.55; furniture and fixtures, $15,515.02; real estate, $5,600; bonds, $252,571.48; cash and sight exchange, $180,-465.11; total, $1,004,757.16. Liabilities—Capital paid in, $155,280; surplus and undivided profits, $24,263.08; deposits, $825,194.08; total, $1,004,־ 737.16. It was also shown that in both the saving and the commercial business there had been a great increase during the past twelve months. There was a meeting of the directors for the election of officers, with the following result: H. C. Capwell, president; A. D. Wilson, vice-president; Charles A. Smith, cashier; C. F. Rilliet, assistant cashier.
First Bank of San Anselmo
Articles of incorporation were filed with the county clerk in San Rafael October 6th for “The
California Banking News
By WILLIAM J. HOLLISTER
per share. The assets of the trust company may be viewed in two ways, namely, as ‘junk,’ to be sacrificed at forced sale, or as properties to be conserved and sold when their true value can be obtained. The receiver is by law limited in the scope of his operations. His duty is to sell. The history of receiverships indicates ordinarily sacrifice of values.”
Interested in Sacramento Valley Trust Company
L. P. Dodson, formerly with the Bankers’ Trust Co. at Memphis, Tenn., has located permanently in Sacramento and has become interested in the promotion of the Sacramento Valley Trust Co., which was organized a few months ago.
Allowed to Resume Business
The Japanese Bank of Oakland resumed business after having been closed for two weeks by-order of Superintendent of Banks Anderson. Upon examination of the bank Anderson found that its capital was impaired, and took charge of the assets, giving the management time to replace the shortage, as had been promised. The
Foreman Bros. Banking Co.
no LaSalle Street CHICAGO
CAPITAL, AND SURPLUS
1,500,000
ESTABLISHED 1862
INCORPORATED AS A STATE BANK 1897
Officers
EDWIN G. FOREMAN, Pres. GEORGE N. NEISE, Cashier OSCAR G. FOREMAN, V. P. JOHN TERBORGH, A. Cash.
Charles Ewing, chief deputy of State Superintendent of Banks Alden Anderson, has resigned to return to Southern California, whence he was called last May to take up the work under the new banking law. Charles Ewing was cashier of the National Bank of Commerce of Los Angeles when he was called to be chief deputy under Alden Anderson. He came with the indorsement of the Los Angeles Clearing House Association. Ewing was formerly with the Bankers’ National of Chicago.
Annual Election
At the annual meeting of the stockholders of the Consolidated Bank of Elsinore, at Elsinore, these officers were elected: S. A. Stewart, president ; C. D. Pool, vice-president; J. A. Crane, secretary and cashier; S. H. Herrick, M. J. Mon-nett, S. A. Stewart, C. D. Pool and J. A. Crane, directors. A dividend of 8 per cent was declared.
California Safe Deposit and Trust Company
Walter J. Bartnett has issued a letter to the stockholders and depositors of the California Safe Deposit and Trust Co., in which he claims a value of $10.580,000 for the assets of that institution, as against the estimate made by Receiver Edward J. Le Breton of $4,163,151.24. Bartnett says that there is a popular impression that he made an appraisement of the bank’s assets at $9,-000,000, but claims that is erroneous. He says that an “appraisement in the interest of the New York bankers showed values exceeding $8,500,-000,” and that an appraisement at $8,954.000 was made by William Metzner, J. D. Isaacs, Dr. J. Mora Moss, S. L. Leszynsky, Tulius A. Young, H. L. A. Bates and William C. Peyton. Commenting on the value of the assets, Bartnett says: “When E. H. Harriman first became interested in the Union Pacific the road was in the hands of a receiver. The property was looked upon by the ordinary investor as ‘junk.’ The stock was selling at $5 per share. By conserving this property and building it lip he protected the old values and created new ones. The stock of the Union Pacific advanced from $5 per share to over $200