Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1915-08-05
MANY NEW BANKS
SOME WERE FORMERLY PRIVATE
CONCERNS WHICH CHANGE
CHARTERS.
SEVERAL MORE MAKE SHIFT
In Addition There Are Several More
Banks Now Going Through the Pre-
liminaries To Qualify As State
Banks.

LES MoiHtS.-ol lHlTly-eisul new
banks chartered by the state banking
department since Jan. /, 1915, eight
cen were formerly private banks, ac-
cording to a report prepared by A.
o, Wolever, chief of the banking de-
partment.
In addition there are several pri-
vate banks now going through the
preliminaries to qualify as state
banks. The Allyn bank OF Mount Ayr
Is one of the strongest institutions Of
this kind. 1t has incorporated for
100000 and has an application in for
a charter.
Deposits in Iowa state and savings
banks on July 6, 1915, amounted to
'325,S12,7l1, an increase of $11,625,215.-
Sc over deposits in the same banks on
July l, 1914, according to the state
ment issued by the state banking de-
partment.
The report Is more favorable in ev-
cry way than the statement of year
ago. The increase in capital stock has
been s1,s16,O00; decrease in over
drafts, $474,97337; total increase in
assets. sl4,719.547.
Iowa has S31 savings banks, 319
state banks and 81 trust companies.
Their total assets are $685., 500, 620.71;
gold coin, $2,769, 044.S7; silver coin, 81
107,74s51; legal tender, sS,043, 501.97;
credits subject to sight draft, $l,551,-
312.76: real and personal property,
S12, 1894, 331.29.
Savings banks have deposits amount
ing to s223,975,412.64; state banks
and trust company deposits, $101,s3
1886. The deposits in the same banks
decreased s3,134,739.2s, compared with
the statement of April 10, 1915.
Since the bank call OF April 10, the
state banking department has author
lied thirteen new banks. to operate in
Iowa. The largest of the thirteen is
the Keokuk Trust company with a
capital of $4,000.
State Cancels Contract.
The contract awarded recently to
the Borreson Manufacturing company
Of St. Paul for the auto plates for
1868 was cancelled by the state
council. The contract then
was given to the Western Display
of st. Paul.
The action was due to a miscalcu-
ation in figuring the bids submitted
The Western Display company pro-
tested when the contract went to the
Borreson company, on the ground
rhat the bid was not the lowest. H.
II. Stipp. attorney for the Western
Display company, proved his case and
The council rescinded its former reso- |
ution.
First Use Of New Law.
The state board of control put to !
Use for the first time the law passed |
~ the Thirty-sixth general assembly |
the board to appoint one of !
he superintendent of the insane hos
pital to pass upon the sanity of pris-
,ner in the penitentiary. AS the re-
suit, Edward Mcnamara, serving a
sentence Of eighteen years for MUIR
der, will have to remain at the Ana
mosa reformatory in the criminal in
sane section. Under the old system,
the warden of the penitentiary decid-
ed whether a prisoner was insane.
Many mistakes we're made.
Spirit Shown.
A. M. Deyoe, superintendent Of pub
lie instruction, returned from Kos
suth county, where he says the farm
ers have shown a decidedly progress
sive spirit. In Grant township, Kos
suth county, consolidated school dis
trict has been formed, displacing six
one room country schools. There are
no towns or villages in the township.
The new school stands out in the
A cottage for the four teach
ers is now being erected. High grade
teachers have been employed.
Wet Weather Drawback.
Frank Pellet Of Atlantic, state bee
Inspector, declares that there will be
a big crop Of honey this year. Al
though the wet weather has prevent
ed the bees from working as hard as
they usually do. the season OF the
blossoms has been extended to give
them longer time in which TO work,
the inspector says. He declares Iowa
clover honey to be the best in the
world.
viii Use Automobiles.
The state board of control III dis
cussing the purchase of five light
for use at the state in
stitutions where business is heavy.
Employment Bulletin Out.
The state labor department has just
sent out its first employment bulletin.
A number of people over the state
have written in to apply for work
through the bureau. The lists will
be sent weekly to county officers to
be posted in the court houses.
NiIl Arbitrate Disputed Claim.
Attorney Earl Ferguson of Shenan-
loah was in Des Moines arranging
or arbitration OF disputed industrial
lain, before the state industrial COM
mission.
Governor Makes Appointment.
c. T. Carney OF Des Moines was
ppointed a member of the state |
oard of mine examiners, by Governor
ylarke. He takes the place made
'acant by the death Of H. w. Ladd Of |
dadrid.