[Volume XXV11
THE CHICAGO BANKER
20
		к MECHANICS-AMERICAN NATIONAL BANK	
		W OF ST. LOUIS	
I!	Hr IKFifej s	1 CAPITAL $2,000,000	SURPLUS $2,500,000
	■ni ij .Li I	\7 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
NEW YORK
Travelers’ Checks
in denominations of $10, $20, $50 and $100
!TIES
Furnished to Banks and Bankers for direct sale to Travelers
STMENT SECUR
I N V E
Pacific Northwest Banking News
Statement of Five Banks
Showing deposits of nearly $200 per capita, the statement of conditions of the five banks at Walla Walla, Wash., reports gains. The resources show a total of $5,900,319.42. Cash on hand amounts to $397,034.67. Loans aggregate $3,968,374.03, and the deposits are $3,-968,890.76. Money is easier since the crops have been harvested. Deposits are coming in rapidly now, however, and loans are being paid.
Building Operations Increasing
Building operations in Spokane for the eleven months ended November 30th, show an aggregate increase of 858 per cent in value and a gain of 4 per cent in the number of permits. The figures to date are:	Permits, 2,857, as
against 2,749 the same period in 1908. The valuations are $8,551,591 and $544,746, respectively.
One hundred and ninety-seven permits, involving $363,434, were issued in November as against $473,805, a decrease of $110,371.13 or per cent. Builders say the $9,000,000 mark will be reached.
New Bank Building at Mansfield
Mansfield State Bank at Mansfield, Wash., has awarded contracts for the construction of its new home. M. Tucker of Coulee City, Wash., is president and A. Kirkpatrick, formerly with the Spokane and Eastern Trust Company is cashier.
Bonding Orchards
Bonding orchards is the latest thing at North Yakima, Wash. Harry G. Moock has gone to Minneapolis to bond the Olson Fruit Company, capitalized at $157,000, for $175,000 to carry on development work. This ranch cleared more than $30,000 this year from prunes alone. The bonding idea, if well received in the East, will be a big help to development work in Washington.
To Aid Spokane Chapter
Edwin T. Coman, president of the Exchange
small portion of the commercial transactions of the day. He added that every dollar in the clearings here shows on checks and papers that have actually been turned into the various banks of the city in the given time. It would be impossible to ascertain the volume of business day by day. Hence the clearings are used only to compare them with the same period of the year before.
Will Manage Banks from Spokane
J. D. Bassett of Ritzville, representative in the state senate, will manage his string of banks and other business in central Washington from Spokane. Mr. Bassett went to Adams county from Connecticut ten years ago and obtained an interest in the Adams County Bank, the only one in the county. He soon gained control and later reorganized it into the First National, of which he has been president since. He is also head of banks at Wilson Creek, Odessa, Downs, Lind. Cunningham, Hatton, Cornell, Attalia, Prosser and Kiona.
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., December 9.—Guaranty Savings and Loan Association, founded at Minneapolis twenty years ago with a capital stock of $50,000,000, has filed its articles of incorporation in Spokane county and will enter business here. Julius Schmahl, secretary of state of Minnesota, who certified the documents to R. W. Butler, auditor, mentions that the corporation is based upon the mutual building association plan, its capital stock being divided into 500,000 shares of a value of 8100 each, the stock being originally sold at 50 cents a month the share. The incorporators are William A. Flail, William E. Johnson, Herbert E. Fairchild, James W. Blaine, George E. Bertrand, Clarence H. Childs, John W. Knight and James D. Shearer of Minneapolis. Emerson Brothers of Spokane will handle the local loan business for the association.
Report of Tax Commission
E. J. Koors, secretary of the state tax commission, shows in his report that $20,438,000 was raised by direct taxation in Washington in 1908 as against $10,500,000 in 1904. The amount was $14,050,000 in 1906 and $18,500,-000 in 1907. These compilations do not include the moneys raised by fines, licenses or assessments for special purposes. Real estate paid 74.45 per cent of the total tax for 1908, railways 10.79 Per cent, street railways 2 per cent, and personal property 12.5 per cent. The amounts paid by each follow: Real estate, $15,-215,043: personal property, $2,514,911; railroads, $2,206,605 i street railways, $398.700; telephone lines, $32,713; telegraph lines, $19,-659; express companies, $483.
Bank Clearings
Bank clearings in Spokane amounted to $4-986,083 for the week ended December 2d, a gain of 33 per cent over the same week a year ago, while the week before showed a gain of 37 per cent over a similar period in 1908. W. D. Vincent, cashier of the Old National Bank and manager of the Spokane clearing house association, says the clearings represent but a