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THE CHICAGO BANKER
November 20, 1909]
Second National Bank
PITTSBURGH, PA.
CAPITAL STOCK	-	$1,800,000
SURPLUS -	-	-	2,000,000
HENRY C. BUGHMAN, President
WM. McCONWAY, Vice-President	JAMES M. YOUNG, Cashier
THOMAS W. WELSH, Jr., Vice-President BROWN A. PATTERSON, Asst. Cashier
Depositary of the United States, the State of Pennsylvania and City of Pittsburgh
DIRECTORS
HENRY C. BUGHMAN,	WM.	M. KENNEDY,	FRANK C. OSBURN,
President	Commonwealth Trust Co.	Attomey-at־Law
ROBERT D. ELWOOD,	JAS.	S. KUHN,	EDWARD B. TAYLOR,
of R. D. Elwood & Co.	Pres. Pgh. Bank for Savings	Vice-Pres. Penna. Co.
CHAS. W, FRIEND,	WM.	McCONWAY,	FRANK S. WILLOCK, _
Clinton Iron & Steel Co.	of McConway & Torley Co.	of Westmoreland Brick Co.
THOS. D. CHANTLER,	WM.	L. CURRY,	L. L. McCLELLAND,
Chantier & McCIung	McKeesport Tin Plate Co. Secretary J. S. & W. S. Kuhn, Inc.
Accounts Solicited—Our facilities insure prompt attention
A Great International Bank
C, The First National Bank of Pittsburgh has spent years in arranging a system of corresponding banks throughout the world.
C, Through these correspondents it is able to give exceptional service to its clients in all foreign financial matters.
Exports and Imports Financed Report on Standing of Foreign Firms Obtained Correspondence Conducted in all Languages Principal Cable Codes on File
Information Regarding Foreign Securities Furnished Foreign Bonds and Coupons Collected Drafts on all Countries Bought and Sold
rTDCT NATIONAL BANK OF JT 1K2> 1 PITTSBURGH, PENN.
will occupy the corner of the new Solomon five-story skyscraper which is being erected by Joseph L. Solomon and which is expected to be completed by January 1st.
Paying Teller Short?
Wann V. Teasdale, paying teller at the Washington National, St. Louis, was arrested on a warrant charging him with being short $5,921.44 in his accounts. Teasdale waived a preliminary hearing before the United States commissioner and was taken to jail.
Teasdale would make no statement. He has been two years with the Washington National.
Leon W. Quick, president of the bank, said that October 21st a committee found a shortage in the accounts of Mr. Teasdale, which shortage he admitted to the directors.
Investment Company Held Liable for Bank Funds
The St. Charles Savings Bank, St. Louis, was granted a verdict for $6,396.89 against the Orth-wein Investment Company in Judge Hitchcock’s court. The suit was the result of speculative losses, through the Orthwein concern, of money misappropriated from the bank by its former cashier, A. F. Mispagel. A recent decision of the supreme court holds that a brokerage firm should inform itself whether a bank official who deals with it is using the bank’s funds. A similar suit in Judge Muench’s court, last June, resulted in favor of the bank and against H. F. Knight and J. H. Small. The case was appealed, and the supreme court sustained the ruling of the lower court.
Organization of Reserve Bank Almost Complete
Kansas bankers have been working on the organization of a big reserve bank in Kansas City, Kan., for two months. They held a meeting in Kansas City a month ago and perfected the details of the organization. Senator Fred Quincy of Salina, W. F. McFerran of Topeka and W. D. Scoville of Seneca are three of the men who are pushing the organization. W. D. Scoville is the head of the movement.
“There is little that can be given to the public now about this bank,” said Mr. McFerran. “We are organizing the bank and will have it in working order in a short time. The details of the organization cannot be given out now. A considerable part of the capital is being subscribed by Kansas bankers.”
The amount of the capital stock has not been definitely fixed, except that it will be an amount nearly as large as any bank in the two Kansas (Continued on page 28)
lis; A. S. White, St. Louis, vice-president; Charles H. V. Lewis, formerly of the Kansas City Union National, cashier; B. Frohlichstein, St. Louis; Sam B. Payne, Purdin, and W. G. Young, St. Louis, assistant cashiers.
The directors are:	Robert Meyer, August
Heman, W. F. Churchman, W. J. Coard, William Grafeman, Sam B. Payne, G. L. Williams, Robert Dixon, Charles H. V. Lewis, W. G. Young, A. S. White and B. Frohlichstein, St. Louis; Judge Guy McCune, Vandalia; Howard B. Smith, Palmyra; J. H. Whitecotton, Paris.
The new Planters’ Bank will have a capital of $500,000 and a surplus of $125,000. The new institution opened last week in the former quarters of the old Fourth National.
New Bank for Helena
Helena, Ark., is to have a new $100,000 bank. Joseph L. Solomon, local manager for the Les-ser-Goldman Cotton Company, is organizing the institution. The entire stock will be local, excepting $10,000 taken by the Lesser-Goldman Cotton Company of St. Louis.
S. C. Moore, of the firm of C. L. Moore & Brother, is to be president of the bank, which
Notice to Investors
The City of Wymore, Nebraska, will sell to the highest bidder $30,000.00 4% refunding bonds, issued December 1st, 1905, duly registered and now ready for sale, in denom-in at ions of $1000.00 due December 1, 1925, with option to pay by the City any time after December 1, 1905. Bids must be in the hands of the City Clerk of the City of Wymore on or before November 24, 1909. Bonds can not sell for less than par value.
M. L. Rawlings, Mayor
C. H. Hanson, City Clerk
While the new company is being organized by the Fidelity Trust Company, other bankers will co-operate. The directors include the presidents of four national banks of Kansas City.
Henry C. Flower, president of the Fidelity Trust Company, will be the president of the new company. The other officers, all of whom are connected now with the Fidelity Trust Company, will be:
Charles Campbell, first vice-president; Henry C. Brent, second vice-president; Paul T. Campbell, treasurer; Jesse P. Crump, secretary, and John M. Harris, assistant secretary.
The directors will be:
E. F. Swinney, president of the First National; Lee Clark, president of the Inter-State National; F. P. Neal, president of the Southwest National; J. F. Downing, president of the New England National; Henry C. Flower, president of the Fidelity Trust Company; Charles Campbell, president of the Campbell Glass and Paint Company; Henry C. Brent, vice-president of the Fidelity Trust Company; George W. Fuller, vice-president of the Fidelity Trust Company; Frank L. Hall, president of the Abernathy Furniture Company; C. A. Murdock, president of the C. A. Murdock Manufacturing Company; Leon Smith, president of the Smith-McCord-Townsend Dry Goods Company; John W. Jenkins, president of the J. W. Jenkins Sons’ Music Company, and Frank Hagerman.
The new company will take over the savings and title business of the Fidelity Company. The company will receive no deposits except savings, and its investments will be confined to savings bank investments, such as first mortgages _ upon real estate and high class municipal and railroad bonds.
The aggregate of savings accounts in Kansas City has grown largely in the last few years, but its showing is not nearly so good as those of other cities. Kansas City now has savings accounts aggregating nearly $3,000,000, as against $56,000,000 for Detroit; $143,000,000 in Cleveland. New Bedford, Mass., with 75,000 population, has $27,000,000 in savings deposits, and Davenport, la., with 50,000 population, has $22,-000,000 in savings accounts.
Planters’ Bank
The directors of the new Planters’ Bank of St. Louis, elected at a meeting of the stockholders in the offices at Fourth and Olive streets on November 1st, met and elected the following officers: President, W. F. Churchman, formerly president of the Central National of Indianapo-