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Pag* Six SUPPLEMENT TO THE McHENRY PLAINDEALER ..if Thursday. Jul; 26.1S58 McHENRY STATE BANK OFFICERS JAMES E. LARKIN Assistant Cashier .James E. Larkin joined the staff of the McHenry State Bank In.1940 and was appointed assistant cashier in 1946 after serving in both the army and the'navy during the war. He formerly served as City Treasurer for the City of McHenry. He resides at 119 1st Avenue in Mc- Henry. VERNE E. HARRISON r Assistant Cashier Verne E. Harrison started work at the McHenry State Bank in 1945 after four years of military service. He was appointed assistant cashier in 1948. He resides at 205 M^in Street in McHenry, Illinois. THOMAS F. BOLGER Assistant Cashier Thomas'F. Bolger has i;been with the McHenry State Bank since 1941 with the exception of three years army duty during' World War II. He was appointed assistant cashier in 1948. He is currently treasurer of the City of McHenry and is a past president of the McHenry-Eoone County Bankers F ederation. BEST WISHE THE TOD COMPANY Inc. McHENRY BANK HELPS YOU AVOID HIDDEN RISKS Sufficient Title < Evidence Asked For Protection THE BANKING CRISIS The Emergency Banking Act i of March 9. 1933, gave Wie Pres- I ident power to prohibit the e.\- ' portation, earmarking or hoard- • ing of gold, and to command that ; everyone with gold in his possession turn it over to the treasury in exchange for . other money. National banks were authorized to issue preferred stock in order to increase capital j and Federal reserve banks received permission for one year I to discount member bank notes | secured by any adequate collateral whatever. DRIVE-IN BANKING Additional customer service is being offered with the county's first drive-in window. The baytype Mosler window combines push-button ease with bulletproof security. It enables motorists to complete their banking transactions in seconds without i leaving their cars. I The window has an inviting j E~*"-n look which blends with j dern bank architecture and ! ms to bring teller and customers closer together. "We expect the drive-in window to eliminate parking problems, reduce congestion ' in the bank lobby, and save time for both the customer and the teller," Carey said. When you buy a commodity like a suit of clothes, ypu don't ask the seller if there is a judgment against him or if he is behind in paying his ta$es. You don't care whether he is married, single or divorced. But it ts a different matter when it comes to purchasing real estate, says Richard E. Duff, president of McHenry County Title company. Laws that govern real estate ownership protect unsatisfied claims that may be generations old: These possible hidden^- risks point up the Value of title insurance, says Duff. This service is provided here by McHenry County Title company.. * * * Duff n<>ted that a deed to property is not proof of sole ownership. Actually, a deed is only a piece of paper on which the seller transfers his right of ownership, whatever it may be, to the buyer. The deed does not show what rights, liens or claims may be outstanding against the title. Some may be part of the public records and others again may not. Duff points out that a property owner may sell a house when mentally incompetent or when not of legal age. If so, this individual or his heirs can sue to recover the property at any time in the future. A new house may stand on a lot that was sold by a man after he was divorced and without his former wife knowing about it. If the wife has not given up her fights in the property, she can claim her dower interest -- no matter who the new owner may be. There are still other types of these hidden risks that are not revealed by records. Somewhere in the chain of ownership of a piece of land there may have been a fraud. A deed, a release, a mortgage or some other document tnay have been forged. Occasionally there are errors in the records -- unintentional but serious -- and often there is a confusion between names similarly spelled which can affect the title adversely. THE BEAUIFUL NEW LOBBY The present o\yner's ignorance of the claims does not remove the liability against the property. • Claims may be presented years later, Duff says. The property I may have Been sold several times without the claims having | shown up, but they remain good until satisfied. | The McHenry State Bank has been most active in the financ- j ing of homes for many years. I At the present time the local \ bank has in excess of two and j one-half million dollars in out- | standing mortgages. This repre- 1 sents first mortgages on more i than 650 homes in the local com- | munity. j It has always been the policy ; of the McHenry State Btfftk to insist upon sufficient title insur- | ance or evidence of title. This is' of utmost importance in pro- i tecting the depositors' funds as well as the interest of the home j owner. FEDERAL RESERVE BOARD The adoption of the Federal Reserve System was a great step forward even in its earliest stages; in a sense it enabled all member banks to operate together for the common good, as though they were all under a single management. BEST WIS GEORGE B. KANE INTERIOR DECORATING im 405 Park Ave. McHenry, 111. Best Wishes to the on the occasion of its Anniversary Best Wishes to STATE ANK an B Excavating & Gravel one ROUTE ONE McHENRY, ILL Electrical Contracting Electrical Fixtures ed By I t Carey Electric Shop 119 So. Green St. Phone 251 McHenry, III. aa I