t Volume XXVIt
THE CHICAGO BANKER
20
MECHANICS-AMERICAN NATIONAL BANK
OF ST. LOUIS
CAPITAL $2,000,000	SURPLUS $2,500,000
Superior Facilities Offered to Correspondents
WALKER HILL, President	L. A. BATTAILE, Vice-President	J. S. CALFEE, Cashier	G. L. ALLEN, Assistant Cashier
JACKSON JOHNSON. Wce-Pres. EPHRON CATLIN, Vice-President	G. M. TRUMBO, Assistant Cashier P. H. MILLER. Assistant Cashier
& KÜHNE, Bankers
LEIPZIG, GERMANY
KNAUTH, NACHOD
NEW YORK
Letters of Credit
in Pounds Sterling, Dollars, Marks and Francs
Travelers* Checks
in denominations of $10, $20, $50 and $100
Furnished to Banks and Bankers for direct sale to Travelers
INVESTMENT SECURITIES
California Banking News
By WILLIAM J. HOLLISTER
standing stock. This does not mean that an actual assessment is to be made for the purpose of raising money, and if any coin is realized it will be turned over to the reorganized bank. But there are about ioo shares outstanding, the owners of which have as yet failed to come into the plan of putting the bank on its feet again. Their stock will become delinquent under the assessment to be levied, and thus will be brought within the control of the receiver. Judge Seawell said that he had grave doubts as to the legality of the proposed proceeding, but that he was anxious to do all he could to further the interests of the stockholders and creditors. The amount of the assessment to be levied has not yet been determined upon.
Break into Bank at Exeter
Three daring cracksmen broke into the First National at Exeter, in Tular county, the morning of December i6th, smashed the combination lock of the vault with a sledge hammer, gathered up $7,000 in gold and made their escape. Entrance to the bank was effected through a side window, which had been pried open. The tools with which the work was done were stolen from the railroad shops.
The money was all in sacks and consisted mostly of $5 and $10 gold pieces. Little was overlooked. There was a small quantity of silver in the vault, but this was left untouched. In their haste the robbers left $660 in gold behind, which was found lying at the vault door. The men had a delivery wagon waiting outside the bank. The gold was bundled into the conveyance, and it is thought the robbers drove to Visalia. They are still at large and are thought to have headed for Fresno.
Complaint against Hibernia Faulty
A demurrer to the complaint in which John Fitz Gibbon prayed that the superior court appoint a receiver for the Flibernia Savings and Loan Society was sustained by Judge Seawell. The principal point in which the complaint was found to be defective was the failure of Fitz Gibbon to allege that he is a stockholder of the bank. He was given ten days in which to amend his complaint. Fitz Gibbon, who has been a depositor in the bank since November, 1861, complains that the attempt made January 20, 1909, to extend the existence of the corporation 50 years, was a deliberate endeavor to evade the law limiting the life of such corporations to 50 years. Hibernia Sav-
the bank is apparently solvent, but Superintendent Anderson also said so when he ordered the doors closed as a protection to the depositors.
Changes in Woodland Bank
At a meeting of the stockholders of the Home Savings Bank of Woodland, held December nth, the name of R. H. Beamer, president, was dropped out of the directorate, to enable him to accept the position of state bank examiner. There were two other changes and the other officials were promoted. Cashier M. O. Harling was advanced to position of president; J. D. Harling was elected cashier; Ralph Schluer was elected assistant cashier, and Wm. Baird, accountant.
California Safe Deposit and Trust Company
Judge Seawell made an order which will greatly further the plans of the rehabilitators of the defunct California Safe Deposit and Trust Company, the order being to the effect that an assessment may be made on all out-
Foreman Bros. Banking Co.
no 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.
The comptroller of the currency has approved the application of the Bank of California of San Francisco to convert itself into “The Bank of California National Association.” The capital is $4,000,000.
Frank B. Anderson, president of the Bank of California, says: “The information from Washington is correct. It merely means that the bank will be changed from a state institution to a federal one, operating under the benefits of the federal statutes instead of those of the state. There will be no change in officers, no interruption of business, and no disturbance of the capital stock. The officers and directors of the bank have felt that its interests and those of its patrons could best be served by operating under a federal charter, and this is the only purpose in making the change.”
Japanese Bank to Dissolve
Because of the rapid decrease of Japanese residents in Oakland and the consequent depletion of the institution’s deposits, the Oakland Japanese Bank is going out of existence. The officials have petitioned the courts to have the corporation dissolved, and the matter will be heard in the superior court next month. The bank was organized several years ago. There are now about 2,000 Japanese only in Oakland, and the deposits of the bank have decreased to less than $12,000. The institution was capitalized at $100,000, the sum of $25,000 being paid up. The paid-up capital was later increased to $35,000 on the order of State Banking Superintendent Anderson, following the impairing of the capital through expenditures for improvements on the bank.
Receiver of Industrial Bank Reports
C. A. Telfer, as receiver in liquidation, made a report recently to the county clerk of the financial affairs of the Industrial Bank, one of the two Japanese financial institutions in Fresno. The report covers the state of affairs as found on October 20th, when State Bank Superintendent Anderson ordered the doors of the bank closed. According to the showing,