[Volume XXV11
THE CHICAGO BANKER
20
	> MECHANICS ־ AMERICAN NATIONAL BANK	
	r OF ST. LOEIS	
1 J ш| ! í%־׳ ’! Of■	1 CAPITAL $2,000,000	SURPLUS $2,500,000
	Superior Facilities Offered to Correspondents	
	WALKER HILL, President L. A. BATTAILE. Vice-President JACKSON JOHNSON. ViCe-Pres. EPHRON CATLIN, Vice-President	J. S. CALFEE, Cashier G. L. ALLEN, Assistant Cashier G. M. TRUMBO, Assistant Cashier P. H. MILLER, Assistant Cashier
KNAUTH, NACHOD & KÜHNE, Bankers
LEIPZIG, GERMANY
Letters of Credit
in Pounds Sterling, Dollars, Marks and Francs Furnished to Banks and Bankers for direct sale to Travelers
STMENT SECURITIES
NEW YORK
Travelers’ Checks
in denominations of $10, $20, $50 and $100
I N V E
Pacific Northwest Banking News
Deitrich ordered the bonds fixed at $7,500 for each indictment for each defendant. The examination, occupying three weeks, was conducted by United States Attorney Gordon. The court has issued an order which will permit the government expert accountants to make a thorough investigation of the bank and it is expected that its affairs will be probed back to the time the Kester-Kettenback forces took charge, 14 years ago. The Kettenbacks acquired control of the bank in 1885, when John Bearley, president, died. It was established in 1880 by Burke and Hoover, Jacob Hoover later becoming president of the Exchange National at Spokane, W. F. Kettenback, Sr., becoming president in 1885, being succeeded by D. M. White, who was followed by W. P. Kettenback, Jr., in 1896, at the age of 21, the youngest bank president in the United States. F. W. Kettenback was then cashier, but following a disagreement, was succeeded by George H. Ivester, who had been a clerk for several years in the institution. F. W. Kettenback succeeded his nephew as president in 1907. Traders’ to Increase Capital
Stockholders of the Traders’ National of Spokane will vote upon a resolution to increase the capital stock from $600,000 to $1,000,000 at a meeting called for December 15th. A total of 4,000 shares of stock will be issued, 3,000 of which will go to the present stockholders at par, and the 1,000 shares to be sold only to investors who are not already interested. The par value of the stock is $100. If the increase is voted the stock will be issued immediately, arrangements having been made to dispose of the 1,000 shares. The Traders’ is one of the oldest banks in Spokane, being established in 1885. The officers are: A. Kuhn, president; A. F. McClain, vice-president; D. M. Drumheller, vice-president; Charles A. McLean, cashier; E. V. Klein, assistant cashier; W. T. Triplett, assistant cashier.
Decides in Favor of Bank
W. V. Tanner, assistant attorney-general of the state of Washington, says in an opinion prepared at the request of J. L. Mohundro, state bank examiner, that there is no inhibition against
business enterprises. C. H. and N. D. March are lawyers. The March brothers are heavily interested in Canadian farm and timber land, owning land near Winnipeg and a large sawmill near Cranbrook, B. C. ' Their entrance into banking began with the organization of the State Security Bank at Zumbrota, Minn., in 1894.
Eight Indictments against Bankers
Federal grand jurors, sitting at Moscow, Idaho, returned eight indictments against Frank W. Kettenback, president; W. F. Kettenback, former president; George H. Kester, former cashier, and Clarence W. Robnett, former bookkeeper of the Lewiston National of Lewiston, Idaho. F. W. Kettenback and Robnett are held for abstracting $137,226.19 from the funds and credit of the bank, while W. F. Kettenback was indicted for aiding and abetting these irregularities, and Robnett was also indicted for making false entries. The other “true bills” include charges of making false reports to the comptroller of currency. J. E. Chapman, former teller, held for the grand jury, was not indicted. Judge
Foreman Bros. Banking Co.
iio LaSalle Street CHICAGO
CAPITAL, AND SURPLUS
$1,500,000
ESTABLISHED 1862
INCORPORATED AS A STATE BANK 1S97
Officers
EDWIN G. FOREMAN, Pres. GEORGE N. NEISE. Cashier OSCAR G. FOREMAN, V. P. JOHN TERBORGH, A. Cash.
Spokane, Wash., December2 ׳׳.—Harris Trust and Savings Company of Chicago, made the highest bid when it offered $24,300 premium on $500,000 bridge bonds and $500,000 water extension bonds, both issues to run 25 years at 4J4 per cent interest. Other bids were received as follows: Kountz Brothers, New York, $22,830; M. and J. D. Finley, Spokane, $14,002, and Exchange National, $13,700. Mayor Nelson S. Pratt said he expected the bonds to sell for at least $40,000 premium. J. King, representing the Kountz Brothers, objected to the offer of Harris & Company, contending that the decimals in their bid were not properly placed. The funding committee, consisting of Mayor Pratt, President E. V. Lambert of the city council, Comptroller Robert Fairley and Treasurer J. Oscar Peterson, ruled that the bid was the best obtained, and awarded the contract to that company, subject to approval of attorneys for the bonding company and the city. Neither the mayor nor Treasurer J. Oscar Peterson regarded seriously the proposal of the Northwest Loan and Trust Company, controlled by the Gallands, to sell the bonds at 4 per cent for a premium of $10,000. The company did not appear with a proposition when the bids were opened.
National Bank of Commerce
National Bank of Commerce of Spokane, with a capital of $200,000 and $25,000 surplus, opened its doors in the Zeigler building the morning of November 24th. F. M. March, formerly of Litchfield, Minn., president of the new institution ; Dana Child, vice-president, and M. M. Cook, formerly cashier of the First National of Hillyard, cashier of the new bank, were present at the opening. The directors are: F. M. March, Dana Child, M. M. Cook, C. H. March, E. J. Cannon, W. C. Gray, W. G. Mulligan, IT W. Bonne, N. S. Pratt, George Day, G. Chew, A. Ready, C. P. Orr and Edward O’Shea. The March brothers are widely known in the Dakotas and Minnesota. They were reared on a farm and began life in the cattle business when the present state of South Dakota was a vast range. They have always worked together in