OCR Interpretation

Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, October 02, 1910, Image 44

Image and text provided by University of California, Riverside; Riverside, CA

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85042462/1910-10-02/ed-1/seq-44/

What is OCR?

Thumbnail for 4

Represents a Combined Wealth
Aggregating More Than
DEPOSITS OVER $7,000,000
Brief History of Strong Financial
Institution-Steady Busi
ness Growth
The Citizens National bank had Its
Inception on the second day of October,
1890, as the "Citizens Bank of Los An
geles," organized under the laws of
The first board of directors elected at
that time comprised Thnddeus S. C.
Lowe, Pasadena; Cornelius F. Cronin,
Theodore W. Brotherton, Henry L. Wil
liams and Frederick D. Hall, Los An
The capital stock of the bank was
$100,000, paid up. The first president
was T. W. Brotherton; F. D. Hall,
January 12, 1897, J. J. Fay, Jr., was
elected president; A. J. Waters, cash
ier and secretary. William B. Wight
man was elected president April 5, 1901.
On July 19, 1901, the directors met
and adopted resolutions increasing the
paid up capital stock to $200,000, and
directors from nine to eleven. They
also resolved that the bank be convert
ed from a state bank to a national
bank. This conversion was completed
on July 24, 1901, when the Citizens Na
tional bank took Its place among the
national banks of the country, with a
capital stock of $200,000, fully paid up.
On January 14, 1902, R. J. Waters was
elected president and A. J. Waters
cashier and secretary.
On June 12, 1906, the capital stock of
tl-e bank was increased to $300,000.
At about this time the bank moved
into its new quarters at the corner of
Third and Alain streets, where It had
completed a seven-story reinforced con
crete building for Its new home.
In April, 1909, the stockholders of the
Citizens National bank purchased a
controlling interest in the American
National bank, which has been consol
idated, taking the name of the Citizens
National bank, with a board of nine
teen directors chosen from the two old
banks, with R. J. Waters, president;
A. J. Waters and J. Ross Clark, vice
presidents, and W. W. Woods, cashier.
The stockholders of the bank consist
of some of the richest men in the state,
whose combined wealth is over $100,
As an indlctaion of how the business
of the bank has grown, It is only neces
sary to refer to the records of the bank
for such showing. On January 1, 1891,
the deposits were $75,000. On January
1, 1900, the deposits were $1,000,000. At
the date of the consolidation the depos
its had Increased to over $4,000,000. The
last published statement shows a de
posit of $7,080,681.96; loans and dis
counts, $5,214,383.48, and total resources
of $9,640,394.68.
The present officers are: R. J. "Waters,
president; J. Ross Clark, vice presi
dent; M. J. Monnette, vice president;
A. J. Waters, vice president; Wm. W.
Woods, cashier; Geo. £3. F. Lmffet,
assistant cashier; E. T. Pettlgrew, as
sistant cashier; Geo. Bugbee, assistant
The present board of directors is as
follows: M. J. Monnette, J. Ross Clark,
A. G. Hubbard, L. W. Blinn, J. M. Hale,
E. L. Donheny, M. L. Connell, Lee C.
Gates, W. J. Hole, Frank C. Bolt, John
H. Norton, C. A. Caniield, E. G. Fay,
Robert Hale, John J. Fay, Jr., F. X.
Pfafflnger, Wm. Rhodes Hervey, Orra
E Monnette, Jas. Bastable, A. J. Wa
ters, R. J. Waters.
Foote Llghte—l Bee the light house B<>rvlce
In 1909 coat $6,357,000.
Miss Sua Brotte—According to my manager,
it was more disastrous than even that! —
Yonkers Statesman.
"Baby makes an awful fusß before he
swallows those pills."
"Yea, but he swallows your Bhoe buttons
find doesn't mako any fuss until thry get
down!"—Yonkere Statesman.
Interest Computed Monthly
on Savings Accounts
*^»—^—————— ■—^—^— HI -■■—■■■—■-!!■■ I HIM —————^,
The advantage in this: In case of a withdrawal PRACTICALLY
NO INTEREST IS FORFEITED. Savings deposits receive
interest for the full number of months they remain.
FOUR PER CENT is paid on Savings Accounts requiring
presentation of pass book, computed monthly.
THREE PER CENT is paid on Savings Accounts subject to
check, computed on minimum monthly balance of $300 or more.
Frank P. Flint XV. J. WuHliliurn, President J. O. Koepfll
M. 11. »MUlurk XV. 11. Uootb, Vice President James Sluiniun
Joseph fM-utt Jtalph K. Dobbs, Ciwhler I", y. Story
J. G. Carey, Assistant Cashier
Hon. Russell Judson Waters,
President Citizens National Bank
(Continued from rage Two)
Carter G. Osburn, Farmers and Mer
chants National bank, Baltimore, Md.
William Otto, National Union bank,
Dover, N. J.
S. C. Parcher, York National bank,
Saco, Me.; Mrs. Paxcher
Dr. George C. Parcher, East Saugus,
Mass.; Mrs. Parcher.
Prontiss Parker, Boston, Mass.
Mrs. Howard H. Parsons, Detroit,
Mrs. Franklin Patch, Boston, Mass.
T. B. Paton, general council, A. B. A.,
New York city.
O H Patterson, Fourth National
bank. New York city; Mrs. Patterson.
Miss Mary E. Phare.
D. H. Pierpon, Manhattan company,
New York city.
Lewis E. Plerson, President American
Bankers' association, New York city;
Mrs. Pierson, Misses Anne R. and Al
ene S. Pierson, Mrs Anna B. Pierson.
C. A. Pike, Orange National bank,
Orange, Mass.; Mrs. Pike.
A. B. Pimm, Stedman & Redfleld,
Hartford, Conn.; Mrs. Pimm.
J. S. Pishon, E. H. Kollins & Sons,
Boston, Mass.
F. B. Plympton, Hackensack Trust
company, Haekensack, N. J.; Mrs.
W C Poillon, Mercantile Trust com
pany, New York city; Mrs. PoiUon,
Miss Potter.
H. P. Price, Norwalk National bank,
Norwaik, Conn.; Mrs. Price.
Charles E. Purdy, Portchester, N. Y.
Mrs. Frank Quackenbush, Northport,
N. Y.
Forrest Raynor, Hathaway, Smith,
Folds & Co., New York city; Mrs. Ray
Herbert Rhoades, Dorchester Trust
company, Boston, Mass.; Mrs. Rhoades.
Charles W. Riecks, Liberty National
bank, New York city; Misses Marian
and Gertrudo M. Riecks.
G. R. Rogers, Clinton Gilbert, New
York city.
Mrs. Mary "W\ Rogers. Huntingdon,
A. T. Rose, Remington Typewriter
company, New York city; Mrs. Rose.
D. H. Rowland, National Butchers
and Drovers bank, New York city;
Mrs. Rowland, Miss Rowland and Miss
Alice Rowland.
C A. Rugglea, Boston clearing house,
Boston, Mass.; Mrs. Ruggles.
Charles T. Sammis, Northport, N. V. ;
Mr.--. Sammls.
Col. A. Sohermerhorn. American
Surety company, New York city.
William H. Schroeder, New York
city; Mrs. Schroeder, Miss Helen L.
Mrs. H. Schwa^nl and maid, Brook
lyn, N. V.
Dr. George H. Pexsmlth Bayonne, N.
J.; Mrs. Sexsmlth.
A. D. Seymour, Manufacturers Na
tlonal bank, Brooklyn, N. V.; Mrs.
K. F. Shanbackcr, Fourth Street Na
tional bank, Philadelphia, Pa.; Mrs.
Mrs. Kd. Lyman Short and Miss
Anna Short, New York city; Mlsa Mar
guerite Short, Llnwood, N. C.
A. J. Skinner, Third National bank,
Spring-field, Mass., Mrs. Skinner.
E3. U Smith, National Shoe and
Leather bank, Auburn, Me.; Mrs.
H. A. Smith, National Bank of Com
merce, New York city; Mrs. Smith.
Hewlett R. Smith, Bank of North
Hempstead, Port 'Washington, N. T.;
Mrs. Smith.
Hiram R. Smith, Bank of RockviHe
Center, Rockville Center, N. V.; Mrs.
J. E. Smith, Bayonne, N. J.; Mrs.
S. R. Smith, Bank of Long Island,
Jamaica, N. V.; Mis. Smith.
Frank L. Sniffen, Title Guarantee and
Trust company, Brooklyn, N. T.; Mrs
Sniffen, Miss Beatrice Sniffen.
Ali x C. Snyder, Flatbush Trust com
pany, Brooklyn, N. V.; Mrs. Snyder.
A. W. Soule, Blodgett & Co., Boston.
George W. Spence, Peoples National
bank, Brooklyn, N. V.; Mrs. Spence.
C. E. Spencer, Carbondale, Pa.; Mrs.
Spencer, Miss Muxjorie Spencer, Miss
Mary Stacey.
E. N. Stanley, Ravings Bank of New
Britain, New Britain, Conn.; Mrs. Stan
ley. ,
Louis Stem, Home Savings bank,
Brooklyn, N. Y.
W. S. B. Stevens, National Union
bank, Boston, Mass.
Benjamin Strong:, jr., Bankers' Trust
company, Nek York city.
Q. H. Stuart, 3d, Oirard Trust com-
I my, Philadelphia, Pa.
James S. Studtiiford, Lambertville
National bank, Lambertville, N. J.;
Mrs. studidford.
Anthony Stumpf, Daily Banker, New
York city.
William P. Sturgis, Dime Savings
bank, Brooklyn, N. V.; Mrs. Sturffia.
Andnw T. Sulilvan, Nassau Trust
company, Brooklyn, N. T.
Walter L. Suydam, New York city;
Mrs. Suydam.
Roland L. Taylor, Philadelphia Trust,
Bate Deposit and Insurance company,
Philadelphia, Pa.
W. H. Taylor. Stamford, Conn.; Mrs.
Taylor, Miss Hazel Taylor.
li S. Tefft, First National bank, Syr
acuse, N* Y. •
J. Dana Thomas, Klodgett & Co., Bos
ton, Mass.
Miss Maude Tliorne, Brooklyn, N. T.
R. H. Towner, Towner rating bureau,
New York city.
Peter H. Troy, Edmund and Charles
Randolph, Poughkeepsie, N. V.; Mrs.
J. P. Tuftp, Union Market National
bank. Wntertown, Mass.; Mrs. Tufts.
De Witt Van Busklrk, Mechanics
Trust company, Bayonne. N. J.; Mrs.
Van nuskirk and Master Van Busklrk.
11. M. Van Court, Central Trust and
Pavings bank, Philadelphia, Pa.; Mrs.
Van '^ourt.
Isaac Van Rlpor, Freeport, N. T.;
Mrs. Van Riper, Miss Irene Van Riper.
Mrs. Carl yon Mayhoff, New York
.-it v.
W. H. Vreeland, Fir?t National bank,
Bnyonne, N. J.; Mrs. Vreeland.
W. W. Walne, genera) office A. B. A.,
New York city.
Mrs. Charles IT. Walcott, Boston,
Alex. Walker, Colon ml bank, New
York city; Mrs. Walker.
Charles Elliott Warren, Lincoln Na
tional bank, New York olty; Mrs. War
ren, Misses Susan E., Margaret R. and
Master Billy Warren.
Arend H. Weinwnrdt, Knauth, Nach
od & Kuhne, No.v York city; Mrs.
H. M. Wells, National City bank,
Brooklyn, N. Y.
Charles H. Werner, Trust Company
of America, New York city.
A. P. White, Banking Law Journal,
Now York city.
H. B. White, Tlrst National bank,
Ayer, Mail.
W. H. White, First National bank,
Salisbury, N. C.
llunry C. Wlnaor, Asbury Park and,
One of the Largest and Most In
fluential Banks in the
Great West
DEPOSITS TOTAL $27,000,000
Established Nearly 22 Years Ago.
Always Under Same Care
ful Management
Twenty-two years ago next Feb
ruary the Security Savings bank
opened for business In a room at 148
South Main street. Although this
banking; room had a frontage of only
eighteen feet, the now institution
with Its capitalization of $75,000, wa
In keeping with the Los Angeles o
that day. In the years that hay
elapsed since 1889 the bank has grown
steadily and surely until now it Is on
of tho prides of a prideful city.
Practically under the same manage
ment throughout Its history, the bank
has repeatedly Increased its capital
as the business grew until the $75,000
has become $1,000,000, with $850,000 re
serve. A year after J. F. Sartorl and
his associates organized the bank it
held $247,648 in deposits and had re
sources amounting to $331,744. There
were then 1053 depositors. Now the
bank has more than $27,000,000 deposits,
$29,000,000 resources and nearly 60,000
opnn accounts.
The bank successively moved, first
to Main and Second streets, then to
Spring and Fourth, and finally to the
present location In the magnificent Se
curity building at Spring and Fifth
streets, occupying the ground floor and
.It ts conceded by persons who know
that the banking room of the Security
Is the finest In the west, all its ap
pointments, including the most mod
ern massive vaults, lieing the highest
type of their kind. The basement lfl
taken up with the safe deposit and
storage department, than which there
Is nothing larger, stronger or better
equipped in the whole west. The fa
cilities In this department were de
signed not only for the utmost safety,
but with the view to Insuring con
venience and privacy of customers.
A new vault recently completed,
Is devoted to the storage of bulky
packages of valuables, chests and
cases of silverware, wedding presents
and other articles the owners would
preserve from danger of all kinds.
This vault Is of the same size, 32x64,
and the same construction as the
safe deposit vault It adjoins, both
being absolutely Impregnable.
In all departments of the bank will
be found uniform courtesy and effi
ciency of officers and attaches, the
policy being to strive always for the ,
good of patrons. A new and unique
feature In banking business Is the
free Information bureau, where the
Inquirer may, without any cost, learn
what he wants to know for his guid
ance In the city and in Southern Cali
fornia generally.
J. F. Sartori, who at the time the
bank started business was cashier, is
now president. Maurice H. Hellman,
one of the original directors, has been
active vice president sixteen years. W.
D. Longyear, cashier, recently cele
brated the twentieth anniversary of
his connection with the bank. Vice
President John E. Plater Joined the
Security when that Institution bought
and absorbed the Los Angeles Savings
bank as Vice President Charles H. Toll
did later, when the Southern Califor
nia Savings, of which he was cashier,
was merged Into the Security. The
Main Street Savings bank also, of
which T. L. Duque was president, was
purchased by the Security.
Other officers of the Security are:
T. Q. Hall, assistant cashier, who, with
the exception of one year, has been
with the bank since the beginning; C.
W. Wilson, assistant cashier; R. E.
Hardacre, assistant cashier; W. M.
Caswell. J. H. Griffin and "W. A. Ellis,
assistant secretaries.
The directorate includes well known
men who stand high In financial cir
cles, most of them having long been
identified with the city's growth.
They are: J. F. Sartori, president;
Maurice S. Hellman, vice president; |
John E. Plater, vise president; Charles
H. Toll, vice president; W. D. Long
ye'ar cashier and secretary; J. H.
Shankland. attorney; H. W. O'Mel
veny, attorney; T. E. Newlin, vice
president Farmers and Merchants
National bank; J. A. Graves, vice
president Farmers and Merchants
National bank; W. L. Graves, vire
president Merchants National bank;
■\V D. Woolwine, vice president Na
tional Bank of California; W. H.
Holliday, president Merchants Na- j
tional bank; William H. Allen jr.,
president Title Insurance and Trust
company; Henderson Hayward, capl- j
There are eight banks In Lone Beach,
six commercial and two savings and
trust. The handsome totals of their
individual and combined activities are
shown by the following summary of
their last official statements:
Capital, surplus
Banks. and proms. Deposits. Assets.
City National $ 108,736 % 297.917 » 506.C53
Exchange National.. 125.650 389,405 613,389
First National 291,868 648.475 920,343
National Bank of
Long Beach 260.261 1,161,270 1,568.408
Farmers and Mer
chants 2«.27« 133.785 160,061
State Bank 102.824 227.256 330.111
Citizens Savings ... 228,079 305.641 663,020
Long Beach 260,261 1,161.297 1,068.408
- Totals {1,607,319 M.141,662 $6,157,721
Ocean Grove bank, Asbury Park, N.
J.; Mrs. Winßor.
George E. Williams, Boston, Mass.
H. B. Wilsox, First National bank,
Baltimore, Md.
George R. Wllsdon, National bank of
Cohoes, Cohoes, N. V.; Mrs. Wilsdon.
F. E. Wise, Greenwich bank, New
York city; Mrs. Wise.
Frank L. Woodard, Dime Savings
bank, Norwich. Conn.; Mrs. Woodard.
Mrs. John T. Woodruff, Brooklyn,
McD L. Wrenn, Citizens bank, Nor
folk Va.; Mrs. Wrwin.
Miss Margaret C. Wylly, New York
G H. Young, First National bank,
Brandon, Vt.; Mrs. Young.
John Alvln Young, Windsor Trust
company. New York city; Mrs. Young.
Miss Bertha Young. Huntinjrton, N.
V.; Mrs. Sarah M. Young, Saratoga,
N Y.
Herbert Zelley, Turlington, N. J.
John A. Graves, Vice President of the
Farmers' and Merchants' National Bank
BLOCK COST $1,000,000
Corner of Eighth and Broadway
for L A. Investment Com
pany Building
Only a few days ago further empha
sis was given tlie faith business men
and Investors have in the future of
Loe Angeles by the closing of the
most important renlty deal announced
in the last twelve months, Involving]
$475,000, and paving the way for the
erection of an office structure four
teen stories high, which will cost
The Los Angeles Investment com
pany purchasod from Harry Gray and
his associates the lot on the north- j
east corner of Broadway and Eighth
street for a consideration of $47ii,0e>0. ]
The lot fronts 101 feet on Broadway I
and Is 150 feet deep to a twenty-foot
alley. Located near the Hamburger
department store and directly in 1 ne
with the expansion of the commercial
district, the premises are among the
most valuable In the retail and bank
ing section.
It is the purpose of the Los Angeles
Investment company to Improve the
property at the earliest possible date
by the erection of a modern steel and
reinforced concrete bank and office
rr\* t • t TV 1
The National Bank
of California
Hellman Building
Fourth and Spring Streets
Los Angeles, California
Condensed Statement
From Report to Comptroller Sept. 1, 1910
Resources Liabilities
Loans and Discounts $2,490,964.90 Capital Stock Paid 1n........ $500,000.00
Overdrafts ............ T.y 27,394.26 Surplus and Und. Profits..... 195,877.89
U. S. and Other Bonds . 826,846.34 Circulation , '.-..} 485,000.00
Real Estaft, Fur Fixt. and Bond Account 50,000.00
Safe Deposit Vault 95,526.87 >
Redemption Fund with U. S. DepOSltS .♦ 3,070,i^.0U
\%> Treasurer .... .V 25,000.00 .
Cash and Sight . mM * M \ v
Exchange J^^-tt \
$4,909,111.69 $4,909,111,69
The above statement is correct.
H. S. McKEE, Cashier
building of fourteen stories and base
ment, the first floor of which will be
occupied by the Globe Savings bank
and the investment company. The en
tiro top floor will be set apart for fl»
use of the architectural and building
department of the Los Angeles In
vestment company, which now has en
rolled more than 5000 stockholders,
with capital and reserve total of
$4,172,677 and no debts.
President Charles A. Elder of "the
Los Angeles Investment company, In
speaking of the transaction, stated
that his company require larger and
nmre commodious quarters for the
transaction of the tremendous business
of the Institution, which was estab
lished more than fifteen years ago
along lines and principles as old as
"Wo have been cramped for space
for a long time," said Mr. Elder, "and
we must build. While we are at It we
might as well build big and right. We
have been considering the purchase of
the lot acquired for several months,
and we made an offer for it which was
accepted. Our architect has been in
structed to draw plans for the four
teen-story structure wo will erect, on
which will be expended approximately
$1,000,000. It will be one of the finest
bank and office buildings in the west
and will be the permanent home of the
Globe Savings bank and the Los An
geles Investment company.
"While the contractors are putting
up the skyscraper the Investment com
pany will continue building homes, as
In the past, for the shelter of the peo
ple who are rapidly flocking to Los
Angelos, the city with the brightest
future of any municipality In the en
tira country."
Farmers and Merchants National
Established Many
Years Ago
General Management In Charge
of J. A. Graves and Asso
ciates—Big Deposits
One of the oldest and most,conserv
ative banking institutions of this city
is the Farmers and Merchants National
bank. It succeeded In 1893 the Farmer*
and Merchants bank, a st^ite institution
which was organized by Mr. Ism las W.
Hellman and his associates in 1871.
Its staetment of September 1, 1910.
Its capital and surplus to be. .9 8,508,8-10.00
On the name day It* deposit*
were UA8*,»«.37
Against which Its cash balance
WAA »■■■ ........••■•• 5,002,408.00
Tho following Is its board of direc
tors: Isaias W. Hellman. I. N. Van
Nuys, I. W. Hellman, Jr., Mllo M. Pot
ter, William G. KerckhoK, L B. New
ton, C. E. Thorn, Kaspare Conn, C A.
Ducommun, D. A. Hamburger. H. W.
O'Melveny, J. A. Graves, Dr. Walter
Llndley, William Lacy, T. E. Newlin,
H. M. Wheeler, O. M. Souden, Oscar
Lawler, E. L. Doheny.
Its executive officers are: Isalas W.
Hellman, president; J. A. Graves, vice
president; I. W. Hellman, Jr., vice
president; I. N. Van Nuys, vice presi
dent; T. H. Nowlin. vice president;
Charles Seyler, cashier; Gustav Hel
mann, assistant cashier; John Alton,
assistant cashier.
This bank has always enjoyed the
full confluence of the public In times
of stress it has been a tower of
strength. It does a general banking
business and issues its own letters of
credit, good throughout the world.
From the beginning the management
of this bank has always kept the wel
fare of the depositors first In view, and
It has at all times carried a heavier
cash balance than any financial insti
tution in Los Angeles city.
Its directors are all men of gooa
standing and Integrity, possessed of
very large property interests, while its
officers are able and well known. Hero
Is a bank with ample capital and sur
plus with a very large stockholders
liability to depositors and -controlled
by men in whom the public has con-
All of these elements go to make a
deserved success.
Redd-8«e that «l*n over there, 'Automobile
Lunch"? Let I.' go aver and »et our dinner!
Greene-No, I've been there. If. no food.
Or»ene-AU the chicken* they .erre i»
mlnua le»» or wlng»l-Yonlter» Statesman.
A St. Louis genius has founded a
school to prepare young P<>°Pl» '°J
matrimony. He must Imagine himself
a prophet, with the wisdom of tho
ages, when he invites young love to
como to achool.-Phlladelphia Pre»a.

xml | txt