[Volume XXVII
THE CHICAGO BANKER
26
there is a confidence in investments that bespeaks a prosperous season. There seems to be plenty of money particularly in view of the fact that there has been a heavy demand for finances during the crop moving season. Bankers and borrowers are negotiating loans on satisfactory terms. At the same time there is a tightening up observable that indicates that the coming winter will see considerable money laid away.
Iowa Bankers Interested in Recent Decisions
Iowa bankers are probably more interested in the recent decision of the courts knocking out the Nebraska bank guaranty law than are the bankers of other states farther away from the seat of the state bank guaranty fever. That there has been considerable agitation for a state law guaranteeing deposits in Iowa is admitted but bankers believe that the Nebraska decision, taken with the failure of the Columbia Bank in Oklahoma have had an effect that will be noticeably against state bank guaranty hereafter. Without doubt, they think, the Iowa legislature which meets a year from this winter will have several bank guaranty bills up for consideration, but it is thought that they will meet with far less encouragement than did those bills that were up at the session last winter.
Divides Bond Issue among Banks
City Treasurer John B. Lucas of Des Moines has apportioned the $350,000 received for the city hall bonds among ten of the banks of Des Moines. The Iowa National was omitted from the list because Cashier Harry Blackburn was instrumental in getting N. W. Harris & Company of Chicago to try to get the bonds after they had been practically sold to Bechtel. It is also said that there have been political differences between Mr. Blackburn and the city treasurer at previous times. The money was divided as follows:	Home Savings, $20,000; Iowa Trust
& Savings, $25,000; Commercial Savings, $50,-000; People’s Savings, $40,000; Mechanics Savings, $25,000; German Savings, $75,000; Valley Savings, $25,000; State Savings, $20,000; Des Moines National, $50,000; Century Savings, $20,000.
Interesting Case Again before the Courts
The case of Cashier Leroy Ware of the Seymour Farmers & Drovers which failed for over $200,000 some years ago will be up again at the term of court which opened at Corydon this week. Mr. Ware’s case is important as the attorneys for the state have raised the question as to whether or not the Iowa statute which created the board of parole is constitutional. Ware, it will be remembered, was paroled by this board and immediately re-arrested upon another of many counts in an indictment which had been returned against him. He had served two years. If the question of constitutionality of the parole law creeps into the case, the trial will assume more interesting proportions than ever before. Press Item Causes Comment
An item has been going the rounds of the Iowa press and causing some little comment relative to the ability of Miss Anna Shutt, cashier
TO IOWA BANKERS
Please forward marked copies of your home paper to the Chicago Banker when it contains anythin¡* about Iowa Banks or Bankers. The favor will be appreciated.
Des Moines, October 27.—Des Moines bankers who are noted for their boosting qualities have joined with the Greater Des Moines committee in boosting Des Moines property as a place for investment of Des Moines funds. The Greater Des Moines Committee entertained the bankers of the city at a dinner at the Savery at which time the encouragement of local investment was taken up and discussed. It was stated that Des Moines people should be urged to be even more liberal in the financing of local institutions of worth and quality and the plan of assisting local organizations in selling stock to Des Moines people was talked at length. The bankers agreed to do their part even more than they have done in the past and that is saying much. Congressman William B. McKinley, Champaign, Illinois, head of the Illinois Traction Company and J. W. Kingsbury representing
HOMER A. MILLER President Iowa National, Des Moines, Iowa
N. W. Harris & Company, of Chicago were guests at the dinner. Mr. McKinley has been in Des Moines several days negotiating for the purchase of the Des Moines street railway plant. The Harris Company of Chicago holds a majority of the stock in the plant and Mr. Kingsbury is representing that company. The question of suitable franchise is all that is holding back the sale which involves $6,500,000. The boosters at the dinner were eager in expressing to Mr. McKinley and Mr. Kingsbury the hope that the deal will be made.
H. A. Miller Elected to C. N. R. Directorate
Homer A. Miller, president of the Iowa National, Des Moines, has been elected on the board of directors of the Chicago and Northwestern Railway. Mr. Miller was summoned to Chicago by President Marvin Hughitt last week and was told of his selection. He started with Mr. Hughitt on a tour of the Northwestern lines in the Northern states. Mr. Miller a few months ago was elected a director in the Northwestern Mutual Life Insurance Company of Milwaukee. He is interested in several Iowa banks and has become one of the distinguished financiers of the state. As a “mixer” Mr. Miller has few equals and few bankers from outside of Des Moines come to this city who do not go around to visit with him before they leave the city.
Investments Picking Up
There is a good inquiry for loans in Des Moines, so local bankers say and there are evidences that