New-York tribune., 1909-09-25
MODERN BANKING FACILITIES
The Garfield National Bank in Its Handsome
Modern Home.

quarter OF century has been a familiar land
mark in the Masonic Hall. at Sixth avenue and
23d street. removed on August to its elegant
new quarters in the Fifth Avenue Building, at
Fifth avenue. Broadway and 23d street. which
are pronounced by experts to constitute one OF
the most beautiful and attractive banking rooms
in the country.
The bank was organized in 1881, and its career
has been from the first highly successful and
prosperous This may be Judged from the fact
tl.at in 1898 and 1889 the bank paid dividends OF
40 per cent and in 1900 80 per cent This was
on the old capital OF S2OOOO0 Increased in 1901
10 81. 100000 On this latter amount l. per cent
has been regularly paid. but since 1902 II has
paid several extra annual dividends OF per
cent. making 20 per cent in all disbursed TO
stockholders.
Out-of-town dcpositors receive special facil-
tiles Especially is the banks extensive credit
department OF value 90 such persons az
means of reference or identification and what Is
decidedly an unusual feature of management Is
that out OF town customers are invited 10 make
the bank their business headquarters while IN
the city. For the special accommodation OF
women there is a perfectly equipped depart
ment which is enjoyed by a large number OF
u
National Bank transacts all the usual banking
business. Il furnishes letters Of credit also and
checks acceptable 90 the customs authorities In
payments OF duties and makes collections in all
parts of the world. Estate and trustee accounts
receive special care. while its currency depart
ment facilitates the handling Of silver and small
bills.
For upward OF nineteen years the president OF
the bank. r. W. Poor. has been identified with
the institution a native OF New Hampshire.
he received his early training with the Littleton
Savings Bank and the Littleton National Bank
in that state having been cashier OF the last
named He came 70 the Garfield in 1885, and
was elected president in 1902. The other Off
cials are: Vice-president, James McCutcheon;
cashier, w. L. Douglass; assistant cashier. a.
! W Snow: directors. James McCutcheon. Charles
r. Wills Ruel w. Poor. Samuel Adams. Alfred
J. Cammeyer. William H. Gelshencn. former
Justice Morgan J. OBren and Thomas ID.
Adams The capital and surplus OF the bank
amount to $2O000O0 thus enabling all the
legitimate demands Of it's customers to be met.
The central character OF its location will bc
appreciated as il is in the vicinity OF such build
ings as Madison Square Garden, the Flatiron
Building and the Hoffman House, 10 say moth
ing OF such stores as those Of Stern Brothers,
Lord & Taylor Arnold. Constable & Co, A. J.
Cammcyer the Adams Dry Goods Company and
Park & Tlford. The bank Is an entirely sep
arate institution, having no branches or outside
connections Of any kind
The bank Is a depository OF United States and
New York City funds. It's first president was
George II. Robinson who succeeded by Al
| fred c. Cheney. His successor. the third presi-
dent was William II. Geshenen.
The Garfield Safe Deposit Company vaults are
in the basement OF the building. it's handsome
Office being situated on the main floor. with en-
! trance on 2:Sd street and also from the banking
rooms There are upward OF five thousand safes
in these vaults. with coupon rooms and private
rooms for the convenience OF patrons. There
are freprOOf vaults for the storage of silver
ware, paintings. bronzes and other articles of a
bulky character. Thus. for a small yearly sum,
the perfect safety of securities and vaIuablcs
can be guaranteed.
The following is the statement of the Garfield
National Bank at the close Of business. June 23,
| 1909:
RESOURCES
Loans and discounts Observation-Disclosures. sc 6O2 g42 or
| OFeTdraftH. secured and unsecured O7
U. s. bonds TO secure circulation. .... 500 900 O6
u s. bonds 20 secure u. s. deposits. 10000 90
/ Premiums u. S. bonds. s................ 4512 2I
Bonds securities. etc.................. fOfsIs5 81
Banking house. furniture and hxtures... 38345 50
other real estate owned. .......... I02.70s 81
Due from national banks (nOt
reserve agcntsJ -. s5GC.G5o o.
Duo from state and private
| banks and bankers. trust
companies and savings
Checks and other cash items. 5000 o.
/ Exchanges Clearing House 219.291 01
Notes Of other national banks 43.5OO 90
nIckeIs and cents .......:. 7.4Ge6
Lawful money reserve ia bank.
viz: