[Volume XXVII
THE CHICAGO BANKER
16
Operating the Savings Bank System whereby the carrying of Life Insurance becomes a means of saving money, and not an expense.
PIONEER LIFE INSURANCE CO.
PEKIN, ILLINOIS
If You Desire to Collect Your Out-of-Town Items
Promptly, Send Them to The National City Bank of Chicago
Correspondence Invited
The National City Bank of Chicago
Capital, Surplus and Undivided Profits $2,000,000
OFFICERS
David R. Forgan, President	L. H. Grimme, Cashier
Alfred L. Baker, Vice-President	W. D. Dickey, Assistant Cashier
H. E. Otte, Vice-President	A. Waller Morton, Assistant Cashier
F. A. Crandall, Vice-President	R. U. Lansing, Manager Bond Department
safe-keeping, and when occasion demands, this surplus is again withdrawn for the accommodation of the farmers and merchants of the smaller cities and rural communities.
Within the recent past the crops have been harvested and turned into money. As a consequence the deposits in the banks of the city have climbed upward at a rate unprecedented in the history of local financial institutions. The reports made by the banks in response to the call made upon them on November 16th, show a total increase of $4,920,805 over the total reported on September 1st. The deposits September 1st amounted to $25,777,373. In the 65 banking days that intervened between that date and November 16th when the next report was called for, the deposits climbed up to $30,698,178.
It is the first time in Houston that the bank deposits in the city have reached the thirty million mark. This showing is of the most encouraging nature and demonstrates that the banks of Houston are growing very rapidly. More than that it is an index of the great material advancement that is being made by Houston and this section of Texas.
Not only have the banks made greater gains than during any previous report period in recent years, but the reports also show that the reserves have reached a stage calculated to inspire the greatest possible feeling of security.
The Union Bank and Trust Company is still the banner institution of the city in point of deposits, having passed the six million mark and made rapid progress toward the seven million notch. The largest percentage of gain in deposits was made by the Central Bank and Trust Company which more than doubled its deposits between September 1st and November 16th. The Commercial National increased its deposits nearly a million during the same period. The First National passed the five million mark and all of the other institutions did correspondingly well.
V»
Jacob Haish State Bank
The Jacob Haish State Bank, of DeKalb, 111., reports capital of $100,000 and surplus and profits of $10,000. Jacob Haish is president; S. A. Haish, vice-president; Geo. W. Baldwin, cashier, and G. K. Miller, assistant cashier.
V»
A new bank building is to be erected at Elm Grove, W. Va., by the First National Bank.
W. H. Burdick succeeds C. A. Faircloth as cashier of the Gainesville (Fla.) National.
The First National of Bedford has elected Abraham B. Egolf as president to succeed Oscar D. Doty.
Joseph C. Klingler has been elected cashier of the First National of McClure, to take the place of E. W. P. Benfer, deceased.
A. B. Seal succeeds A. L. Leopold as cashier and W. C. Priser was chosen assistant cashier, taking the place of Otto Kolb, in the Tamaqua National.
R. S. Meek has been chosen acting cashier of the Farmers National of Reading, to take the place of W. L. Davis, cashier, resigned.
C. A. Sisk has been elected vice-president of the First National, Factoryville.
The Keystone National, of Manheim, will increase its capital from $60,000 to $75,000.
V*
Houston Deposits Exceed Thirty Million
Houston, Tex., November 22.—The surest barometer of the condition of a city’s commercial and industrial life is the condition of its banking and other financial institutions. Houston has long taken pride in the fact that it is one of the leading financial _ centers of the state. This has been made possible, not specially through any particular effort on the part of the bankers to build up large deposits to be hoarded in their vaults, but because of the gradual development of the city and surrounding section in the industrial, _ manufacturing, agricultural and commercial lines.
The country surrounding Houston has witnessed a wonderful growth and development within recent years. The population has expanded with this development. Houston has forged to the front, keeping pace, or rather setting thepace, for the section of the state tributary to it, answering the demands, financial and otherwise, that have been made from time to time and enjoying in a measure at least its share of the credit for what has been accomplished in the great scheme of development.
The banks register the condition of practically every line of commercial and industrial endeavor not only in the city but for a great territory throughout the agricultural communities in this section of the state. Being the commercial center it follows that the city is naturally the financial center. It is the clearing house for one of the most prosperous sections of one of the greatest states in the union. The surplus accumulated by the country banks is sent to Houston for
In and Around Pittsburgh
(Continued from page 13)
Benjamin Dimmick and J. W. Oakford have resigned from the directorate and Wm. H. Peck has been elected to succeed the late William Connell as president. Mr. Peck was cashier. B. B. Hicks, receiving teller, has been made cashier. The new president is one of the best known banking men of the state. He was president several years ago of the Pennsylvania Bankers Association and is vice-president of the Scranton Clearing House and is considered a banker of clear perception and conservative qualities.
Farmers National
The new Farmers National, of Millheim, has opened. It is capitalized at $25,000, with George Frank as president, and John Eby, cashier. The directors are:	Aleman Frank, Henry Duck,
George Frank and L. E. Stover, of Millheim; C. L. Gramley and Dr. Bright, of Rebersburg; John Rouse, of Madisonburg; Henry Philips, Harbey Krouse, Aaronsburg; Mr. Peeler, Spring Mills, and Mr. Fisher, Penn Hall.
Banking Notes
Charles E. Schmidt, treasurer of the Keystone Leather Company, has been elected a director of the National Security Bank, Philadelphia.
The statement of the Mellon National, Pittsburgh, of November 16th shows total resources of $44,240,000, an increase since the corresponding statement of last year of more than $5,500,000.
W. F. Gibson succeeds F. E. Robinson as cashier of the Bolivar National.
The First National of Orbisonia, has elected J. M. Steese cashier, to take the place of H. A. Guepner.
J. C. Geist has been elected to the cashiership of the Citizens National, Tionesta, to succeed Sherrill Smith. R. J. Hopkins was chosen assistant cashier of the institution.
The First National of State College has elected John W. Stuart as president to take the place of W. C. Patterson, deceased. John T. McCormick is now first vice-president and W. L. Foster, second vice-president.
J. Watson Craft succeeds David J. Ambler as vice-president of the First National of Ambler.
Stock is being subscribed for a national bank to be located in either Plains, Hudson or Miners Mills. It will have a capital of $50,000. Col. Asher Miner is interested.