t Volume XXV11
THE CHICAGO BANKER
28
Southwest Banking
(Continued from page 25)
Citys. The purpose of the organization is to have a reserve bank in Kansas City, Kan., to take care of the deposits and reserves of Kansas state banks. The deposits of this bank will be guaranteed under the Kansas guaranty law. The reason for its organization is the opposition of the Missouri bankers to' the guaranty law. Bankers See Salina
A party of Kansas City, Chicago, St. Louis and Topeka bankers, accompanied by J. N. Dol-ley, bank commissioner, and W. W. Bowman, secretary of the Kansas Bankers Association, spent two hours at Salina, Kan., and were entertained by the bankers and the commercial Club. The party was on its way from McPherson, where a bankers’ meeting was held last Wednesday, to Junction City, where a meeting was held Thursday.
Forming a New Trust Company
Kansas City may have a new trust company. It will have the name of the Equitable Trust Company and will have a capital of $1,000,000 and a surplus of $100,000. An organization office has been opened at 405 New York Life Building. J. O. More is chairman of the organization committee. Martin Seward is one of the promoters.
New State Bank for Houston
Houston has a new state bank and will be ready to begin the transaction of a general banking business as soon as the new building which the bank is having erected is completed, which will be within the next few weeks.
The new institution has been christened the Guaranty State Bank of Houston and has a capital of $20,000. The incorporators are A. C. Bell, R. F. Butts, H. E. Detering, W. M. Fon-ville and Gus Anderson. The work of organization has been largely in the hands of R. F. Butts, who was until very recently connected with the Harris County Bank and Trust Company. A meeting of the stockholders will be called within the next few days and officers and directors will be elected.
Kansas Men Buy a Bank
H. J. Beitel of Wellington, a capitalist and land owner; Frank Gillespie of Anthony, Kan., his brother-in-law, and others, have bought C. Q. Chandler’s bank at Hazelton, Kan., for $25,000.
Senator Aldrich in Omaha
United States Senator Aldrich, in his tour of the West, made an informal speech at the Omaha Club and spoke before the Commercial Club. In his addresses he said:
“We have 25,000 banks and will soon have 50,000. We are going to have the greatest surplus capital of the world in the United States soon, and we have a great many things to think about. It is your duty, as well as mine, to take such steps as you can to perpetuate the present prosperity of the country.”
Senator Aldrich went over the work of the finance commission to date and again outlined the labor before it, appealing, as at previous meetings, to bankers and business men to study the question of banking and currency reform, with the view of affording intelligent assistance to the commission and to congress in framing legislation.
Considerable interest was taken in Aldrich’s visit, in view of his following Representative Fowler, of New Jersey, until recently chairman of the house committee on banking and currency.
Banking Notes
The Bank of Norden, S. D., was robbed last week and $2,384 in cash was secured by the robbers who escaped capture. The safe and building were completely wrecked by the explosion.
The First State Bank of Alfred, N. D., has been chartered with a capital stock of $10,000.
the institution at a meeting of ־the board of directors on Wednesday afternoon. The appointment was made to fill the vacancy created by the death of Edward Donohoe, son of Joseph A. Donohoe, founder of the institution, on October 20th. The vacancy created by the appointment of Fitzpatrick, who had been assistant cashier, was filled by the appointment of John T. •Dispaux, who, for many years, has been con-־ nected with the institution.
Plans for Bankers’ Hotel Adopted
The directors of the' Bankers’ Hotel Co., of Oakland, on November 10th adopted plans and specifications for a building, which will cost in the neighborhood of $1,500,000 and construction will begin at once. The plans that have been accepted were drawn up by the firm of Bliss & Faville, the San Francisco architects. The building will be seven stories in height, and will contain more than 400 rooms. It will occupy the entire block, bounded by Alice, Harrison, Thirteenth and Fourteenth streets. The working plans will be ready for the contractors within a few days.
Banking Notes
The First National of San Fernando has been authorized to begin business, with a capital of $25,000. Officers are:	J. E. Wheat, president;
T. J. Walker, cashier.
The Los Nietos Valley Bank of Downey will open a branch bank at Watts on January 1st. It will be located in Bartow block, which is being erected, and will be in charge of C. R. Church.
A special meeting of the stockholders of the Pa j aro Valley Bank will be held November 29th to consider reducing the capital stock of the corporation. Another special meeting will be held December 13th to consider converting the bank into a national bank.
City of Sioux Falls, S. D.
$178,500.00
Refunding Bonds
ON TUESDAY, NOVEMBER 30, 1909, at 9 o’clock a. m., the Board of Commissioners of the City of Sioux Falls, S. D., will receive open bids for $178,-500.00 refunding bonds, dated January 1, 1910, and maturing as follows: $35,000.00 on January 1, 1915; $43,500.00 on January 1, 1920; $100,000.00 on January 1, 1930. Interest 5% per annum, payable semiannually, both principal and interest payable in New York City.
Immediately upon acceptance of his bid by the Board of Commissioners, the successful bidder will be required to furnish a certified check in the sum of $10,000.00, payable to the City Treasurer, conditioned that he will faithfully carry out the terms of his bid. All bids by mail must be accompanied bv a certified check in the sum of $10,000.00, and must be addressed to the City Auditor, and plainly marked, “Bids for Refunding Bonds.’ The right to reject any and all bids is expressly reserved.
For further particulars, address,
Lewis Larson,
City Auditor.
November 6, 1909.
Wisconsin News Letter
(Continued from page n) sha; W. R. Frame, assistant cashier, Waukesha National Bank, Waukesha; W. H. Sleep, National Exchange Bank, Waukesha; W. F. Voss, president, Wisconsin National Bank, Water-town; F. J. Wood, president, Wood County National Bank, Grand Rapids; J. Barfield, cashier, First National Bank, Lake Geneva; E. D. Hoyt, president, and M. B. Wells, cashier, First National Bank, Wauwatosa; H. Moehlanpah, cashier, Citizens Bank, Clinton; L. Albert Karel, president, State Bank of Kewaunee, Kewaunee; G. A. Blesch, First National Bank, Menominee; A. E. Proudfit, president, First National Bank, Madison; B. F. McMillan, president, First National Bank, Marshfield; W. H. Purnell, cashier, First National Bank, Kenosha; T. E. Woodard, Bank of Watertown, Watertown.
Important Group Meeting
A number of very important matters will be brought before the meeting of Group No. i of the Wisconsin State Bankers Association, to be held at Menominee, January 21st. The matter of the meeting place and the manner of holding the meeting of the next state convention will doubtless be settled and as many members have different views on this question considerable debate is expected. Many of the members of the association are said to be in favor of a repetition of last summer’s program when the convention was held on board steamer in Lake Michigan but a number are opposed to this scheme, preferring that it be postponed for another year and that the next meeting be held in some Wisconsin city.
An Interesting Collection
Secretary George D. Bartlett of the Wisconsin Bankers Association has gathered about him an interesting collection consisting of the com-bnation knobs of various safes broken into by burglars within this state during the past few months. The knobs show the various ways employed to gain access to the inside of the safes. Some are badly battered and bent showing the effects of the heavy blows of a sledge hammer while others are scarcely damaged as different methods were adopted.
Warning—“Lost or Stolen”
The following warning is issued to members of the Wisconsin Bankers Association by Secretary George D. Bartlett concerning certain certificates of deposit which have been lost or stolen. “Three certificates issued by the Bank of Ivaukauna, Wis., as follows; No. 29804, $425, issued June 28, 1909, to Mrs. J. Alva Carter; No. 29253, $135, issued January 21, 1909, to S. E. Lord; No. 29563, $125, issued to Barney McDaniel and endorsed to S. E. Lord.” These last two certificates were in a suit case which was stolen from a Southern Pacific sleeping car, August 14, 1909, between Los Angeles and San Francisco. Payment has been stopped and banks should refuse to cash them if presented and notification immediately sent to the Kaulcauna Bank.
California News Letter
(Continued from page 18)
Bank of Los Angeles has been increased from $600,000 to $1,000,000, and the present stockholders are now given the opportunity to subscribe for their pro rata, that is, one share of new for every six now owned, of 1,000 shares authorized by the board of directors to be now issued, at $300 per share, payable on or before December 15th. The stock will be dated and ready for delivery January 3, 1910.
Elected to Cashiership
John E. Fitzpatrick, one of the oldest and most competent employees of the Donohoe-Kelly Banking Co., located at Sutter and Montgomery streets, San Francisco, was appointed cashier of