9
THE CHICAGO BANKER
November 6, ipop]
CONSOLIDATED
CASUALTY
COMPANY
IN THE HEART OF
AMERICA
All Forms of Surety and Casualty Insurance in One Company
ROBERT B. ARMSTRONG, President
OFFICES: Entire 18th Floor, Majestic Bldg., Chicago, IL S. A.
Capital
$2,000,000
Surplus
$2,000,000
Deposits
$33,000,000
We solicit accounts of banks and bankers and offer them our complete facilities for the handling of their out-of-town items
W. B. WELLS, Vice-Pres.
J. R. COOKE, Asst. Cash. R. S. HAWES, Asst. Cash. J. F. FARRELL, Asst. Cash.
C. H. HUTTIG, President
G.	W. GALBREATH, Cash. D’A. P. COOKE, Asst. Cash.
H.	HAILL, Asst. Cash.
Rational Bank of Commerce in jBteto ÿork
is prepared to transact all branches of bomesttc anb foreign banking. Accounts are solicited from banks, bankers, firms, corporations anb inbibibuals, tulio map relp upon courteous consiberation anb the berp best terms that are consistent tuith goob business methobS. Corresponbcnce is inbiteb. Capital, Surplus anb llnbibibeb ;Profits ober
$40,000,000.00
Commercial & Savings Bank
This bank was established in January, 1887, as a private bank with $10,000 capital; incorporated in 1903 as a state bank and capital increased to $25,000; capital increased in January, 1906, to $50,000. It has been in business under one continuous management at the same location in Mitchell, S. D., since organization.
The building, cut of which is shown in another column, was erected in 1905, giving the bank handsome and convenient quarters for the handling of its rapidly growing business. The deposits at the present time are $400,000, having grown from less than $200,000 in 1905. H. R. Kibbee, the president, who organized the bank in 1897, has been identified with the banking business of Mitchell for something over a quarter a century.
The policy of this bank has always been conservative and it has placed the safety of its depositors before all other considerations. It aims to be accommodating and to give to its customers prompt and satisfactory service, and to offer them every reasonable facility for the transaction of their business.
V»
Two Banks to Liquidate
Gardiner, Me.—Formal action for the liquidation of the Oakland National and the Gardiner National, two Gardiner institutions, was taken recently. This action was for the purpose of consolidating the two institutions and forming a new bank to be organized under the name of the National Bank of Gardiner and to be opened for business Dec. 15, which also is the date set for the liquidation of the two institutions. The Oakland National has a capital of $50,000, while the capital of the Gardiner National is of the same amount. The Gardiner Bank was organized under the State laws about 1831 and the Oakland Bank in 1855. Both institutions also were chartered under the national banking laws in !865.
COMMERCIAL AND SAVINGS BANK Mitchell, S. D.
People’s Bank Elects Directors
The new People’s Bank, of Parsons. Pa., has elected the following directors:	Frank J.
Scouton, W. P. Walsh, F. M. Chase, C. Comegys, C. C. Rhoades, A. J. Rudly, James Morris, M. F. Kelley, E. R. Williams, Maurice Williams, Edward McLaughlin, A. L. Chase, George Turner. Officers chosen were:	Frank
J. Scouton, president; M. P. Walsh, vice-president; Edward McLaughlin, secretary and V. A. Shindel, cashier.
A new bank building will be erected by the National Bank of Virginia, at Richmond, Va.
GUARDIAN	CAPITAL & SURPLUS
TRUST COMPANY	$1,000,000
OF	Pays a rate of interest con-
NEW YORK	sistent witf good banking
merits or claim superiority for any particular class, as reliable data, furnished upon the presentation of an individual issue, must form the basis for calculations of this nature. Among the great number of issues, some must of necessity be avoided, as lacking in those essential qualities which insure the success of a project honestly conceived and surrounded with all possible safeguards. For the guidance of the investor, conditions necessary to safeguard an investment in irrigation securities are appended:
First—Favorable opinion of the validity of the proceedings taken, legality of contracts, and priority of “water rights.”
Second—Water supply sufficient for early-season irrigation, and reservoirs provided for impounding a quantity adequate for late-season needs. Water is the factor upon which the fertility of the land depends, and is absolutely es-. sential to the success of an irrigation project.
Third—Location of the land in a section where transportation facilities are provided insures settlement and assures a market for the products raised.
Fourth—The rare combination of soil, rich in mineral salts, and dry climate (such a valuable adjunct in the development of plant life) is found in most of the arid and semi-arid states. On account of the cold winters experienced, extremely high altitude acts as a deterrent influence to the prospective settler, and should, therefore, be avoided.
The ideal agricultural condition, uninterrupted sunshine, soil of incredible richness, and absolute control of moisture, found in communities in which the conditions enumerated have been complied with, serve to place bonds secured by properly irrigated land among the safest and most attractive forms of investment securities. The present large interest return cannot long withstand the influence of insistent public demand, for bonds secured by the most fertile and highly cultivated lands in the world must soon take their rightful position among the standard investment issues.
A new bank is to be organized at McColl, S. C.