Hammond Times, Volume 1, Number 175, Hammond, Lake County, 11 January 1907 — Page 9

Friday, Jan. 11. 1907.

THE LAKE COUNTY TIMES PAGE NINE. I Financial Institutions of the County Meet With Unprecedented Prosperity During the Year 19C6, and Begin the New Year in the Most Flourishing ConditionComplete Directory of Each of the Nineteen Banks in the County Compiled to Date, Including New Officers and Directors Elected the Past Week at the Annual Meetings of the Various Institutions, Appear in this Article.

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JOHN W.DYER. Cashier Commercial Bank of Hammond.

Commercial Bank of Hammond. Capital stock, $100,000. Surplus, $50,000. President, Thomas Hammond. Vice President, Charles K. Ford. Cashier, John W. Dyer.

remain the same. W. II Hammbnd was elected in the place of one of the outside stockholders with the idea of placing the entire control of the bank in the hands of Hammond men. The annual report shows the bank to have had the most prosperous year in its history.

Directors, Thomas Hammond, Charles - A 12 per cent dividend was declared 13. Fond,- Jo&n W. Dyer, Adam R. Ebert, and 13 per cent was added to the profA. If. Tapptr and "VV. II. Hammond. its. Some improvements and enargeTJiaAnnual meeting of the Commer- ments are contemplated but the tak cial bank was held yesterday and with will continue to do business at the one exception the officers and directors present splendid location. , -

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There Is no better Indication of the extent of prosperity a community is enjoying than the progress that is being-made by its banking institutions. In the annual statements they make is reflected not only the degree of thrift of the working classes but the conservatism and wisdom exercised in the administration of the affairs of the large corporations as welL It is for thi3 reason that the annual reports of the nineteen banks of Lake county are perused with a greater degree of interest than ever and the progress they are making is a matter of great satisfaction not only to the officers and stockholders of these institutions but to the community at large. With but few exceptions the personel of the various banks of the county has not been changed in the recent elections indicating the confidence the stockholders have in those who are administering its affairs. Another of the evidences of the prosperity of the banks of the county is the fact that a great many of them either have Just completed the building of

larger and more luxurious quarters or are contemplating such improvement. Only recently two of the Crown Point banks, the First National and the Commercial, have moved into splendid new quarters that are excelled by no other institutions of their size in the state. The Citizens' German National bank o Hammond will soon occupy quarters in a magnificent new office building to be built at the corner of Sibley and Hohman streets. The First National bank of Hammond also contemplates improvements to their already splendid quarters and as soon as the postoffice is moved to the new federal building, will occupy the entire Hohman street frontage with its offices. The First State Bank of Toleston has Just completed a fine brick structure that is to be its home and considering the size of the town the building of a $7,000 Ibank building shows a decidedly progressive spirit. The First National Bank of Gary is still in its swaddling clothes but is backed by wealthy officials of the United States Steel corporation and will soon be doing business in temporary quarters until the $50,000 building which is to be its home is completed. It will be a surprise to the people of Lake county to know that the capital and surplus of the banks of this county aggregate $1,209,500. There are over one hundred people employed in the nineteen banks and considered as an industry the banks contribute their proportion to the prosperity of this section. In spite of the great progress that is being made in all of the banks of the county a spirit of conservatism prevails everywhere and every change in their personel tends to strengthen them. The county has passed through its pioneer period and business is being directed into deep cut channels. As tho wealth of the community increases the stability of all of the banks is. made greater and Lake county may now boast of a little less than a score of as modern and progressive banks as could be found anywhere else in the state.

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, JOHN BROWN. President of the First National Bank of Crown Point One of the Oldest Bankers in the County.

First Nntloual Bank of Crown Point. Established 1S74. Capital stock $50,000. Surplus, $50,000. President, John Brown. Vice President, John E. Luther. Cashier, A. A. Sauerman. Assistant Cashier, John II. Lehman. Directors, John Brown, "William B. Brown, Nell Brown, John E. Luther and A. A. Sauerman. The First National Bank of Crown Point enjoys the distinction of being the oldest bank in the county. John Brown, the head of this institution, is one of the best financiers in the county and, in fact, in this end of the . state. He is ably supported by the veteran cashier, A. A. Sauerman, who has been with the bank for the past twentyeight years or since the organization of the institution. This bank is located in luxurious quarters at the county seat

and on Nov. 12, closed one of the most

successful years in its history.

First State Bank of Ilobart. Established 1890. Capital stock. $25,000. President, Seward Lightner. Vice President, N. P. Banks. Cashier. J. C. Cavender. Directors, Seward Lightner, N. P. Banks, J. C. Cavender, A. E. Halsted, C. E. Smith and M. W. Peterson. The First State Bank of Hobart has prospered ever since the date of its or

ganization. At first it occupied rented quarters in the "Watson building on Main street but later the Stocker block, at the corner of Main and Third streets, was purchased and the bank has occupied this Bite ever since. Improvements have been made to the building which they now value at $16,000. Mr. Cavender has been the cashier ever since the bank was organized. A Blx per cent dividend was declared In June, 1906. First National Bank of Dyer. Established Capital stock. $25,000. Surplus, $1,000. President, Henry L. Keilman. Vice President. Henry C. Batterman. Cashier, August "W. Stommel. Assistant Cashier, William M. Gettler.

Directors, Henry L. Keilman, Henry C. Batterman, John L. Keilman, John A. Klmmett and William F. Keilman. The- shareholders of the First National Bank of Dyer met Tuesday. Jan. 8, and elected the above named officers. These men have had charge of the bank since its inception and considering the size of the town have made a good showing. The first dividend was declared at the recent annual meeting of the stockholders and was fixed at six per cent. v The gain in deposits over last year, was $26,128 and in total assets $30,565. First State Bank of Toleston. Established 1006. Capital stock, $50,000. President, G. J. Bader. Vice President, W. C. Kunert. Cashier, H. W. Eucher. Directors, Otto C. Borman, Morrison, W. C. Kunert, Julian Youche, G. J. Bader, H. W. Eucher and ,E. T. Davin. The State Ban of Toleton ! the infant financial institution of the county but it is in the hands af stronjr men and with the growth of the commu

nity is destined to be one of the strong financial Institutions of the Calumet

region. By Jan. 15, the new $7,000

brick home will be completed , and the

bank will be ready for business.

GEORGE M. EDER. Cashier Citizens German National Bank of Hammond.

Hammond. Established 190G.

Citizens' German National Bank of Schrieber, Charles H. Friedrich, II. M.

i laster. The Citizens' German National bank is one of the young financial institutions of Hammond being a little over seven months old. During the short period of its existence the deposits have increased to nearly a quarter of a million dollars which may be taken as a splendid indication of the confidence in this home enterprise. The annual meeting of stockholders will not be

held until Monday when there will be

Capital stock, $100,000. Surplus, $6,000. President, C. C. Smith. Vice President, W. D. We is.

Cashier, George M. Eder. Directors, a C. Smith, V D. Weis,

George il. Eder, J. C. Becker, Herman an election of officers and directors

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The East Chicago Bank. Established 1001. Capital stock, $25,000. President, Henry Schrage. Cashier, Henry Schrage. Directors. This is a private "bank and there are no directors. Mr. Schrage reports a very prosperous year and says that the bank has never done so well since he took hold of it. The lease on the site now ococcupied by the bank runs out soon but Mr. Schrage has not decided whether he will move to larger quarters or renew the lease where he is.

First National Bank of East Chicago. Entablished 1093.

Capital stock, $50,000. Surplus, $10,000. President, G. J. Bader. Cashier, J. G. Allen. Directors, G. J. Bader, J. G. Allen, A.

G. Schlicker, Robert Spear, Clarence C. Smith, Julian H. Youche and P. F. i Donovan. ! The year that has Just passed was i the most prosperous in the history of ; the First National Bank of East Chicago. The institution is in safe conservative hands and yet the progressiveness of the management is shown in i the remarkable Increase of business in , the twelve months Just passed. One of the new features of the bank will

be the installation of safety deposit boxes in the near future. The number of these boxes will increase as the demand for them grows.

State National Bank of Lowell Established 1S93. Capital stock $50,000. Surplus, $4,500. President, Albert Foster. Vice President. John A. Kimmet. Cashier, H. M. Johnson. Assistant Cashier, Arthur L. Foster

Directors. William Love, T. Abbot "Wasson, Star A. Brownell, John A.

Kimmet and Albert Foster.

The State National Bank of Lowell

has made rapid progress since it was founded and its prosperous condition

has enabled it to pay semi-annual divi

dends as well as create a surplus. The stockholders comprise several of the

most wealthy, progressive and enter

prising citizens of southern Lake coun

ty. The bank has always adhered to

conservative banking principles and has

gained the confidence and liberal sup port of the general public.

HENEY SCHRAGE. President Bank of Whiting and East Chicago Bank.

The Bank of "Whiting. Established ISO 5. Capital stock. $50,000. President. Henry Schrage. Cashier, Henry C. Schrage. Assistant cashier. James O. Park. Directors. This is a private bank and there are no directors. The Bank of Whiting has Just ended a prosperous year in which there has been a large increase in deposits. One of the changes that Mr. Schrage, the owner, contemplates in the near future is the building of a fine new home for his bank at the corner of New York avenue and 119th street.

First National Bank of Whiting. Established . Capital stock, $50,000. President, G. J. Bader. Vice President, W. E. Warwick. Cashier, John M. ThieL Directors, G. J. Bader, W. E. Warwick, John M. Thiel, Fred J. Smith

! James Gill, F. H. Morrison and F. R.

Schaaf.

! The annual meeting of the stockhold

ers of the First National Bank was held yesterday when a six per cent dividend was declared and five per cent was placed in the surplus. The bank is enjoying great prosperity and Is recognized as one of the strong institutions of the county. This is one of the institutions that G. J. Bader has had in charge and it is the results he has secured In this and other institutions with which he has been connected that has made him the leading figure he is in banking circles in Lake county.

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W. 0. BELMAN. Cashier First National Bank - of Hammond.

The First National Bank of Hammond.

Established 18S7.

Capital stock, $100,000. Surplus, $50,000. President, A. M. Turner. Vice President, E. C. Minas. Cashier, W. C. Belman.

The First National Bank is the oldest bank in Hammond. Recently the business has increased so much in voluro that it has been decided to occupy- th whole lower flc. r of the building which, bears the banks name. The corps' ot employes will e increased, there will be a" savings department added and Improvements will be made. that will .tost

nearly $7,000. At the recent meeting

Assistant Cashier, A. F. Mashino.

Dlrecifr,,A.?JiI.-a!aTner, E. C. Minas, of the stockholders held Jan. 8,. th

old officers and directors were all reelected.

W. C. Belman, W. F. Mashino. P. W,

Meyn and J. N. Beckman.

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First National Bank of Gary. Incorporated 1906. Capital stock. $100,000. The First National Bank of Gary was incorporated about five months ago but has not yet been organized. The subscription lists have not yet been passed around but It is understood that the control of the institution will be kept In the hands of a cotere of the officials of the United States Steel corporation. A $50,000 building is now being constructed on one of the finest corners ia

Gary for the headquarters of this bank.

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J. WALTER BLACK. Cashier of Hobart Bank.

The Hobart Bank. Established 18S4. Capital stock $10,000. President, Wl.'iam H. Gardner. Cashier. Wait G. Black. Assistant Cashier, E. J. Gardner. This is a private bank and there art no directors. The Hobart bank was founded by Joseph Gardner who was Its president until the time of his death a few weeks ago. The bank ia a member of the Indiana Bankers association and the American Banker's associtaion. Its business has doubled in the past two years during the regime of Mr. Black, the present cashier. The bank is located on Main street In a building well uited to the purpose. Concluded on Paee 12.

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DAVID T. EMERY. Cashier Lake County Trust and Savings Bank.

Lake

County Savings and Company. Established 1903.

Capital stock, $50,000. Surplus, $3,000. President, Peter W. Meyn. Vice President, Frank Hess. Cashier, David T. Emery. Secretary and Treasurer, W. C. man.

Trnst company has Just completed the most prosperous year in the history of this growing institution. At the annual meeting of the stockholders which will be held next week tho usual dividends will be declared and the officers and directors will be elected. While this year has been an especially prosperous one it is a fact worthy of note that this

Bel- company has pail semi-annual dividends ever since Its organization. There

Directors, . Peter W. Meyn, FVank are five departments to the big comHess, W. C Belman, A. M. Turner, E. pany, that is, tho savings, the comC. Minas, J. N. Beckman and J. W. mercial, the insurance, the renting and Weis. safety deposit departments and. they. The Lake County Savings and Trust are all in a prosperous condition.