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MOUNT PROSPECT BANK DEPOSITS DOUBLED SINCE THE MORATORIUM Annual Report Reveals Unusual Growth and Strength of Bank Stockholders of the Mt. Prospect State Bank in attendance at the annual meeting of that banking institution Tuesday evening heard a very fine report of the bank's condition that was presented by its president, Wm. Busse, Jr. The increase in deposits in the 22 months since the moratorium totalled 110 per cent. Upon March 4, 1933, the total deposits of this bank were $196,996.15, while the total deposits on Dec. 31, 1934, were $413,462.91. The increase in deposits during 1934 was $172,784.30, representing 72 per cent gain. On Dec. 30, 1933, the total deposits were $240,678.61, while on Dec. 31, 1934 they totaled $431,462.91. During this period the Mt. Prospect Bank has become a neighborhood bank in every sense of the meaning of that word, serving in addition to its own town, adjoining communities which found themselves without banking facilities. The stockholders re-elected all of the directors, who in turn re-elected all of the present officers. Build Up Large Surplus With greatly increased deposits without a correspondingly increase in general business activity, has brought about a large cash reserve. The officers and directors have tried not only to meet every legitimate requirement of the bank's customers but had to resort to buying short term commercial paper, which today brings only a low rate of interest, due to the limited amount of such investment upon the market. However, the bank's officials have deemed it advisable to confine their investments principally to short term government securities, municipal bonds and tax anticipation warrants, thereby keeping the bank in an extraordinary liquid position, necessarily meaning a sacrifice of earnings. In spite of the increase of the bank's holdings of government and municipal holdings, the deposits have shown a still greater increase and throughout the year the cash resources have greatly exceeded the legal requirement of banks. The progress that the Mt. Prospect State Bank is making, directly affects the communities it serves. More and more people of Arlington Heights and Palatine now look upon that institution as their bank home. The conservative policies of that bank enabled it to withstand the money storm of nearly two years ago. A continuation of those same policies has made it a stronger bank than ever and one that is a credit to Northwest Cook county. The directors are William Busse, C. H. Gewecke, Fred W. Busse, Albert Wille, William Seegers, George H. Geils, G. A. Connor, William Busse, Jr., and George Busse. The officers are William Busse, chairman; William Busse, Jr., president; Geo. H. Geils, vice president; Christian D. Busse, cashier.