Los Angeles herald., 1906-07-29
First National Bank


There is no better evidence of the pros
Iperity of any community than the strers IN
of its banking institutions. In this con-
nection Los Angeles boasts of bank that
stands pre-eminent among the financial
exchanges of the United States This is
the First National bank, which is, per-
haps. more closely identified with the
commercial and financial history of Los
Angeles and Southern California than any
other large business concern. Its influence
has been felt in the upbuildng of this
section and in the promotion of its wide
| spread trade.
Consolidating with the Los Angeles Ma
| tional bank, formerly a potent factor in
the citys history, the First National bank
sprang into class of it's own, the first
| OF the present year. Today it is backed
with capital of N,250,OOO, and it's re-
plus and undivided profits, which are re-
corded at $l,40O000 AS large as these
| figures seem, the First National bank
Icontinues TO expand, and it is predicted
will be more than doubled within the
next few years.
San Franciscos great disaster has al
ready had its effect in Los Angeles; not.
however, as many supposed it would, in
causing commercial and financial de-
preston, burt just the opposite; the finan-
strengthened immeasurably and, despite
| all obstacles in the way of securing ma
terial, etc. through the northern part
OF the state there is evidence of steady
| building and an incres Sc in realty values,
which all tend TO strengthen the banking
interests. A statement issued by the
First National bank at the close of busi-
ness April 6, 1906, shows the following
as the remarkably strong condition of
| that institution:
| Resources-Loans and discounts, 50, ,46S,-
965.79; overdrafts, S41 790S9; u. S. bonds,
s., ,594. .02OOO; premium on U. S. bonds, $751;
331.74; bonds 81, l,O2S, ,77099; due from u S.
| treasurer $62 10000; furniture and fixtures,
cash on i bsPd a. SO sRecia Deposit
banks, $3.S95 O972l; total, $i9'1S5, ,2s212
Liabilitles1atCsaptal stock 1920 600 oOi
surplus, $25O,OOO.OO; undivided profits ST.,
49, ,764;79 circulation, $l.242, 1000; special
deposit. city treasurer. 100000; deposits,
H5,179. .777:3 :33; total $40, 1855, ,29212
In addition to the assets already set
stock of the Los Angeles Trust com
| pany and the Metropolitan Bank and
Trust company, and held by the officers
of the First National bank as trustees
in the interest of the stockholders of that
bank.
Prior 10 its consolidation with the Los
Angeles National bank the First National
was recognized as one of the leading
| financial institutions in the city. Its cap
tal was $5OO,OOO, with surplus and undi-
vided profits of $4,000 With its Increased
| capitalization and surplus and profits il
stands alone, with no equal In the south
west. lie officers and directors of the
| FIRST Natlcnal, all prominent and influ-
entail citizens, have been foremost in
promoting the commercial interests OF
| this section. They are as follows: j. M
Elliott, president; Stoddard Jess, vice
president; W. C. Patterson, vice president
G. r. Bittinger, vice president; John S
| CraVens, vice president; w. r. s. Ham
mond, cashier; A. g. Way, assistant
cashier; E. s. Pauly, assistant cashier iE
w. Coe, assistant cashier; A. b. jones
assistant cashier Directors-G. E. Bit
finger George l. Cochran John S. Cra-
vens. j. C, Drake, j. M Elliott, Henry
Fisher, Frank p. Flint, M II. Flint. G, w
Gates. W. NJ Garland, w. |. Hollings
worth, II. y. Huntington, w. e. Hampton
Stoddardl Jess II, JeVne, Gail b. Johnson
j o. K6epfl Dan Murphy, e. j Mar
shall, John b, Miller. A. II. Naftzger
John H. Norton, r. M Kelsey, w c
Patterson, Epes Randolph William r
Stats, II. G. Story. j. S, Torrance, Wal
ter j. Trask William M. Van Dyke, H. c
| Wilmer,
The First National bank is. in addition
TO its many other sources of usefulness
the designated depository Of the United
States government. This is evidence o.
its permanence and solidity. Its large
deposits reflect the confidence reposed by
the people In its management The banl
does general banking business. makes
collections on all points, Issues letters o.
credit available In the eastern states anC
In all parts of Europe, and sells sight eX
change and telegraph transfers on all tn
eastern centers of finance. 1t solicit
the accounts OF corporations firms an'
individuals, as well as out-of-town banks