13
THE CHICAGO BANKER
November 13, !pop]
William A. Tilden President
Nelson N. Lampert Vice Prest.
Henry R. Kent Cashier
George H. Wilson Asst. Cashier
Charles Fernald Asst. Cashier
Colin S. Campbell Asst. Cashier
MONROE AND CLARK STREETS
C H I C A G О
Capital, $1,000,000 Surplus and Profits, $400,000
Your Business Solicited
THE
LIBERTY NATIONAL BANK
OF NEW YORK
FREDERICK B. SCHENCK, President
CHARLES W. RIECKS
Vice-Pres. & Cashier
FRED’K P. McGLYNN Ass’t Cashier
HENRY S. BARTOW
Ass’t Cashier
DANIEL G. REID
Vice-President
Z0HETH S. FREEMAN
Vice-President
HENRY Pe DAVISON Chairman Ek. Com.
CAPITAL, SURPLUS AND UNDIVIDED PROFITS
$3,500,000.00
in the receiving line and in serving refreshments. The president of the club is Walter C. Hall, paying teller.
Isaac Kauffman, general agent for the Northwestern Mutual Life Insurance Company of Milwaukee, addressed the members of the Minneapolis chapter of bank clerks at its last meeting in the new club rooms.
Enlarge Detective Force
Three new detectives have been added to the Interstate Protective Association force. They are under the generalship of Manager C. R. Frost who is acting for the protective committee of the Minnesota Bankers Association also. Mr. Frost was recently instructed to spend all the money necessary to lessen the raids on the bank vaults in the state. At the close of a chase of thirty months, Danny Reagen, a worthy foeman, who has been dubbed with several titles by members of the fraternity, has been captured at Portland, Ore., for suspected complicity in the robbery of the Scandia State Bank at Stephen in 1907. In that robbery the safe door was blown clean away from its hinges in short order.
V*
Bank Affairs Badly Tangled
Norfolk, Va., November 7.—A badly tangled condition of affairs existed in the failed Traders and Truckers’ Bank here, according to the report of the auditors. The report will be presented November 22d to a special grand jury convened in “John Doe” proceedings to investigate the bank’s affairs.
The report shows that August 7th last, when the bank closed its doors, its deposits aggregated $198,339, with overdrafts of $60,789, while a report submitted to the corporation commission on the same date, as shown by the bank’s books, gives the total deposits subject to check at $132,-982.
Terry B. Gordon, president of the hank, is held responsible for $54,284, and A. N. Cruser, cashier, for $12,460. Other claims acknowledged by Cruser place his responsibility at nearly $25,000. The bank’s final statement placed its reserves and liabilities at $238,660, while the auditors found them to be, according to the bank’s books, $364,655. Many of the deposits in the savings department, ranging from a few cents to a few dollars, were for the benefit of children.
A new state hank is to be organized at Kissimmee, Fla.
fund on the East Side at Minneapolis. The West Side has an ornamental electric street lamp in use and the bank directors are showing their public spirit by backing the movement by the St. Anthony Commercial Club.
Old-timer Visits Minneapolis
Norrish Thorne, son of Gilbert G. Thorne of the National Park Bank of New York, himself with Hathaway & Company, has been visiting in Minneapolis on his return east from the Pacific coast. Mr. Thorne formerly lived in Minneapolis. When he was quite a young man, eight years ago, his father left the Northwestern National and went east with his family. The young man says he likes to return to Minneapolis, “because any one who has lived here always loves the place and likes to visit it.” “They do things out west,” said Mr. Thorne, “and they tell marvelously big stories out there.” Mr. Thorne made a business trip to the Twin Cities some time ago, but the last was a pleasure trip.
Clerks Help on Tag Day
Bank clerks in the Twin Cities contributed toward Tag Day in St. Paul and Minneapolis in a way not publicly recognized. The Second National was the storage point for the $22,000 raised in St. Paul and for the $20,000 raised in Minneapolis the Northwestern National was the accumulating point. This meant that the clerks in the two institutions had to open the boxes and count the receipts afrer hours on Tag Day. The work was absolutely necessary, and the clerks did their duty with alacrity.
St. Paul Bank Has Big Clearings
Through the St. Paul Clearing House the Stockyards National of South St. Paul cleared $4,343,638 in October. This was a record for that suburb and the average of $200,000 a day set a mark that the bank will try to live up to. The sum cleared for October represented money distributed among Northwestern farmers for live stock marketed at the stockyards. It is taken to represent the growing prosperity of the Northwest.
Club Rooms Dedicated
The new club rooms of the First National, Minneapolis, have been dedicated with a reception, musical and dance. The rooms are for the use of the clerks’ club. Piano, trombone, cornet and vocal solos, were given, and a surprise was a clerks’ quartet composed of G. A. Lyon, A. R. Мое, A. R. Tull, E. F. Weitzel. Wives and women friends of the members of the club helped
along with the St. Paul officials. Twenty of the Minneapolis clerks are attending the University of Minnesota night classes in finance and economics. The currency and banking classes of Professor R. H. Hess are the most popular. Stock Exchange
On the Minneapolis Stock Exchange this week the shares of the South Side State, a bank in one of the outside business centers, went to 350, without offerings. This is considered the feature of the market. The South Side is one of the small banks, but has been making good. Surplus and profits were given September 1st at $56,747 and deposits at $590,360. The capital is $75,000 and the total resources $722,107.
Minneapolis State Bank to Move
The Minneapolis State Bank is to move and double the size of its quarters. This is a neighborhood bank about a year old. It began at Lake and Lyndale and will move about a mile to Lake and Nicollet, which puts the institution on an avenue that downtown is the principal retail street. The situation is in a more active commercial center. The quarters are in a building just completed. Deposits are $85,000 and resources $110,000. No stock is offered under 115, although the book value is no and the bid price is the same. Officers are:	President, B. W.
Smith, sash and doors; vice-president, Roy Quimby; cashier, A. W. Harper; assistant cashier, L. H. Pool; additional directors, H. H. Chamberlain, J. S. Calder, F. L. Storms, J. T. Elwell.
Bank Review on Money Market
Of the money market the Northwestern National Bank Review says: “Money continues in strong demand in the Eastern centers, and there has been no striking change locally since our last issue; the grain movement continuing in considerable volume has created a somewhat increased call for funds in the Twin Cities.” As to the recent changes the paper says:	“The capital
stock of the Northwestern National has been increased to $3,000,000. The surplus remains at $2,000,000. The full amount has been paid in to make the capital of the Minnesota Loan & Trust Company $1,000,000 and surplus $100,000. Action will be taken by the stockholders authorizing the increase, at a meeting to be held within a few days.”
Public Spirit Shown by Directors
Directors of the St. Anthony Falls bank have offered $1,000 for the systematic street lighting