27
THE CHICAGO BANKER
October 22, içoç]
H. T. HOLTZ & CO.
Municipal li ....-1. , Railroad School JjOllXL» Corporation
Furnishing Safe Investments for
NATIONAL BANKS	STATE BANKS	TRUST COMPANIES
SAVINGS BANKS	ESTATES	INSTITUTIONS
We invite correspondence and inquiries relative to the Bonds owned and offered by us and shall be pleased to send our Descriptive Circulars on request, together with our latest publication entitled “FOR THE INFORMATION OF CONSERVATIVE INVESTORS.”
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been promoted to assistant cashier. At the regular meeting of the board, the bank was shown to be flourishing.
The Butler County State of Clarksville has filed articles of incorporation with Secretary of State Hayward. The capital stock is $40,000. Louis Slimmer is president; C. H. Ilgenfritz and O. C. Perrin are vice-presidents; Fred Seitz is cashier, and W. L. Asher is assistant cashier.
The Farmers Bank of Moville announces a new two-story brick building to be erected in the spring.
The Vinton State held its regular meeting last week. Paul Correll was chosen president; Dr. C. S. Griffin, vice-president; W. S. Goodhue, cashier. The bank was shown to be in a prosperous condition.
Fred O. Derrough, assistant cashier of the Lucas County National at Chariton, was married last week to Miss Cora Burdette Richards at the home of the latter's parents at Indianola. Mr. Derrough is the son of Representative John Derrough, a well known banker at Indianola.
J. A. McQuaid, president of the First National at Atlantic has been sued for $10,000 slander by J. W. Cuykendall, president of the Atlantic Canning Company who avers that Mc-Quaid made statements to the effect that Cuykendall had been exercising a bad influence over McQuaid’s son.
Vergil Hunt, a student at Highland Park College this city was married secretly to Miss Fannie Vreem, daughter of a well known banker at Moravia, Iowa. The marriage was somewhat of a surprise to the parents of both youngsters who thought they were too young to wed but parental forgiveness was forthcoming.
Mrs. Swearingen at Sidney, Iowa, was sentenced to pay a fine of $500 or go to jail for three months for taking a shot from a revolver at R. S. Williams, assistant cashier of the Sidney Banking Company as he was walking along the streets of Sidney last spring. The woman alleged that Williams defrauded her in a land deal. Mrs. Swearingen put up bonds and will appeal to the supreme court.
J. G. Rounds, president of the Citizens National was elected president of the Des Moines Bankers Club, for the coming year.
exchanged $3,500 in gold for paper money. At once the report started that the men were bank robbers and the officers organized a posse and started after them. The men were found in the act of loading horses into a car and had no difficulty whatever in showing that they were horse dealers who had come in from the West with a bunch of horses.
Des Moines Visitors
Among Iowa bankers who called upon Des Moines bankers in recent days were President J. A. Brown of the State Savings, Chariton; President H. T. Henryson and wife, First National of Story City; Cashier O. F. Ecklund, State Bank of Guthrie Center; President J. G. Dutton, Farmers Bank, Nevada; President C. F. Lofland, wife and daughter, Oskaloosa National; Cashier Charles Burdick, State Savings, State Center; Cashier B. P. Castner, People’s National, Albia; President H. D. Copeland, Chariton National, Chariton; Cashier H. J. Holmes, Perry Savings and Exchange; Vice-president A. N. Odenteiner, vice-president Page County Bank.
Banking Notes
The Farmers and Merchants Savings has filed articles of incorporation with the secretary of state. The capital stock is $20,000. The president is Chris Neeson; vice-president, Joseph Newell; cashier, C. Primus.
Stockholders of the Magnolia Bank are more than pleased at the showing made at the annual meeting last week when reports indicated a gain of 50 per cent in business over the preceding year. Cashier H. N. Frazier is given credit for the popularity of the institution by the stockholders.
C. H. Martin, president of the People’s Savings, Des Moines, was made president of the Golf and Country club at its annual meeting. This is the most fashionable organization in Des Moines.
Bank clearings in Des Moines for the week ending October 9th showed another gain over the corresponding week last year of a million dollars. Clearings for the week totaled $4,079,-983.50. For the preceding year, the total clearings during the corresponding week were $3,015,־ 027.64. The gain is $1,064,955.87.
Hazlett N. Clark, who for eight years has been teller of the German Savings, Des Moines, has
Discuss Ruling of State Superintendent
Iowa bankers are discussing with much interest—and some criticism—a recent ruling of Superintendent Frank Roberts of the state banking department. This was to the effect, as bankers understand it, that reserves of state or savings banks cannot be deposited with private banks in the state; also that an overdraft in state or savings banks cannot be considered an asset. Speaks for Central Bank
While in Des Moines last week, John Her-riott, formerly lieutenant-governor of the state of Iowa declared in an interview that the banking problem is the biggest problem of this country. “We have a heterogeneous mass of banking laws and nothing that is modern,” he said. “What this country needs is a great central bank with the attributes of both the Bank of Germany and the Bank of England. Greenbacks should be retired, savings banks should be prohibited from doing a commercial business, a central bank should be created and Western money should be kept in the West and not sent back East for gambling on the boards of trade.”
Banker’s Wife Injured in Accident
Mrs. Frank Houke, wife of Assistant Cashier Houke of the Merchants National at Burlington was one of the occupants of an automobile which was struck by a trolley car at Kewanee recently when Mrs. J. H. Hungate of La Harpe, Illinois, was instantly killed. Mrs. Houke was severely cut about the head and limbs but escaped with her life. Mrs. Hungate was the wife of President Hungate of the La Harpe National and Mrs. Houke had been visiting her.
Bank Clearings
The last report of the Des Moines clearing house shows total deposits of $24,199,6x9, total cash of $66,273.26 and total loans of $19,631.764. The Iowa National leads in deposits with $6,-201,577.77. The Des Moines National is second with $4,531,576.26. The Central State is third with $2,341,265.11. The Valley National is in fourth place and the People’s Savings which was in fourth place on August 9th has been displaced and is now in fifth place. Clearings for the week ending October 16th totaled $3,690,317.52, an increase over the clearings for the corresponding week last year of $•573,250.62.
Supposed Bank Robbers are Horse Dealers
Officers in Mason City became quite excited when four men walked into the banks there and