The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1909-02-04
GROWTH OF. BANKS
IS PHENOMENAL
East Chicago Banker Will Leave
Thence and Go to Indiana Harbor
DIR. Robert Spear Will Locate
in Indianpolis-Banks Weather
Financial Storm and Stress.

Changes of a very important nature |
were made in the officers of the First
National Bank of Whiting, the First
NationI Bank of East Chicago and the |
Indiana HarbOr State Bank at the
meetings of the boards of directors
which were held In the various cities
yesterday.
Mr.. j. G. Allen, the cashier of the
First National Bank of East Chicago,
rendered his resignation to the board
of directors and was elected vice pres
ident of the bank. Mr.. w. J. Funkey,
Jr., formerly assistant cashier of the
Indiana HarbOr State Bank, was elected
cashier of the East Chicago bank. Mr..
Allen remains a director of the East
Chicago bank.
Resigns as Director.
DR.. Robert Spear resigned as direct
or of the First National Bank of East
Chicago on account of his leaving the
city for Indianapolis and Mr. W. J.
Funkey was elected in his stead
j. G. Allen of the East Chicago bank
was elected cashier of the Indiana
Harbor State Bank to take the place
of Mr. F. H. Erickson who recently re-
signed.
Mr.. c. J. Bader, with the assistance
of George NJ Wat, the assistant cash
Ter of the Indiana Harbor State Bank
has been acting as cashier pending the
election of Mr.. Allen to take Mr.. Erick-
sons place.
In the First National Bank of Whit
ing Mr. F. H. Morrison, the vice pres
ident of the institution, who lives in
LaPorte, was unable to attend the meet
ings of the board of directors and in
his stead John Schaube of Whiting
of the Whiting Coal and Lumber com
pany, was elected
All in FIOurishing Shape.
Notwithstanding the fact that the
cities of East Chicago, Indiana Harbor
and whiting have been through a seri-
Gus period OF, industrial depression, the
condition of it's leading banks would
not indicate It, All of the above men
toned institutions are in a fiourishing
condition and all have declared divi-
dends for the past year and have added
! to their surplus and undivided profits.
In the Indiana Harbor State bank the
expense of providing the fixtures of the
magnificent new bank, with one excep-
ton the most beautiful in North town
ship, were met and the directors We're
enabled to declare a six per cent. divi-
$4,000 10 the undivided profits. This
Is considered a splendid record. The
rapid progress that is being made by
the Indiana Harbor State bank is shown
by the fact that sixty-one new accounts
were opened in this institution during
the past month
Declare Five per cent. Dividend.
In the First National Bank of East
Chicago the directors declared a five
per cent dividend The East Chicago
institution also moved to a new loca-
ton during the past year. It has met
the expense of providing fine new hxt-
lures, in addition to the cost of moving
which was made necessary by the fire
, which destroyed the Todd opera house
block in which 1t was formerly located
It is a notable fact that the First
National Bank of East Chicago and the
Indiana Harbor State bank were able
to weather thestorm which followed the
: financial stringency of a year or more
ago without even having a question
raised as to their stability and the safe
ty of the deposits of their patrons
Consequently the confidence in thes,
institutions is even greater now tina
they have proved the soundness o
their banking policy.
Regret Aliens Loss.
The people of East Chicago will sin
. ccrely regret the loss of Mr. ]. G. Aliei
who will soon leave the city and go t
i, Indiana Harbor to live. However, MI
= Aliens successor. William ]. Funkey
= is known to be a most estimable MAJ
!, and the community both in a bushes
: and a social way. will welcome MI
: Funkey and his talented wife.
: Mr.. Bader will be welcomed in Indi
!, ana Harbor where he is already we
Il and fayorably known. His conserva
: tive banking methods, which are no
inconsistent with progressive policy
will serve to make the Indiana Harbo
1 State bank more popular than ever an
the large increase in the business c
II this institution is sure to continue ur