USA > Indiana > Marion County > Indianapolis > Hyman's handbook of Indianapolis : an outline history and description of the capital of Indiana, with over three hundred illustrations from photographs made expressly for this work (1907) > Part 13
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In the basement and sub-basement at the Pearl street end of the building will be placed the mechanical plant, which has been provided at this point at the expense of heavy concrete and steel retaining walls.
The entrance to both the banking room and the offices will be by means of a single doorway placed at the center of the Meridian street frontage. This doorway opens into a vestibule from which one passes Immediately into the main lobby. Immediately in front are the ele-
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COMMERCIAL CLUB
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CAPITAL NATIONAL BANK. COMMERCIAL CLUB BUILDING.
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vators, to the left inside entrances to the shops and to the right the main doorway to the bank itself.
The Capital National Bank was incorporated in 1889, and from its establishment has been recognized as one of the most progressive finan- cial institutions in the state. Its statement August 22, 1907, showed capital stock of $500,000, snrplus fund $200,000, and undivided profits of $GS,082.02, and total resources of $6,954,336.84. The bank occupies the entire lower floor of the Commercial Club building, which is situated in the heart of the wholesale and retail district. Accounts of banks, bankers, firms, corporations and individuals are respectfully solicited. Reliable information regarding Indianapolis cheerfully furnished, and visitors are invited to call. This bank is especially prepared to furnish letters of credit and bankers' checks available in all countries.
The officers of the bank are Frank D. Stalnaker, president; Andrew Smith, vice-president, John J. Appel, vice-president ; E. I. Fisher, vice- president; Hiram W. Moore. cashier; Gwynn F. Patterson, assistant cashier. Board of directors are William C. Bobbs, president Bobbs- Merrill Co .; Aquilla Q. Jones, Lawyer, Ayres, Jones & Hollett ; Emanuel I. Fisher, treasurer Capital Paper Co .; Harry J. Milligan, lawyer and capitalist ; John J. Appel, real estate, Gregory & Appel; Ambrose G.
INTERIOR COLUMBIA NATIONAL BANK.
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Lupton, cashier Blackford County Bank, Hartford City, Ind .; Crawford Fairbanks, capitalist; W. H. Powell, president National Branch Bank, Madison, Ind .; Frank D. Stalnaker, president; Andrew Smith, vice- president ; Hiram W. Moore, cashier.
The Columbia National Bank opened for business June 3, 1901, with a capital of three hundred thousand dollars; it occupied temporary quarters until January 11, 1902, when it moved into its present splendid offices, No. 14-16 East Washington street, in a building erected specially for it. The first officers of the bank were Mortimer Levering, presi- dent; A. A. Barnes, vice-president; W. F. C. Golt, cashier; W. K. Sproule, Jr., assistant cashier. In December, 1903, Mr. Levering resigned as president, and was succeeded by Mr. M. B. Wilson, who had been for many years president of the Capital National Bank, a man well and fa- vorably known, and of wide banking experience. The present board of directors are A. A. Barnes, proprietor of the Udell Works; T. B. Lay- cock, president of the T. B. Laycock Manufacturing Co .; H. W. Miller,
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AMERICAN NATIONAL BANK BUILDING.
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formerly treasurer of Marion county ; L. P. Newby, president Citizens' State Bank, Knightstown, Ind .; E. H. Tripp, Union Storage and Trans- fer Company ; R. P. Van Camp, Van Camp Hardware and Iron Com- pany ; C. E. Coffin, president Central Trust Company ; M. B. Wilson, president Columbia National Bank. The officers and directors of the bank are men who stand foremost in the commercial, manufacturing and financial circles of the city and state, and while the bank enjoys a reputation of conservatism, it is regarded as one of the progressive financial institutions of the city.
The American National Bank has had an interesting history. It was organized by John Perrin and began business February 4, 1901, with $250,000 capital, and the first day's deposits amounted to $366,- 371.75. The capital and surplus have been increased from time to time until they are now two millions. The deposits at the statements to the comptroller iu August, 1907, were $7,303,187.68.
The building that the bank is now occupying was formerly the Fed- eral building and postoffice.
The bank uses the first floor and the basement. The three rental floors (the windows of the fourth story open only on the court) give such an income as to render the bank's occupation quite inexpensive. Courtesy and consideration to every depositor, whether his business be large or small, have been important elements in the rapid upbuilding of the bank. Indeed, the keynote of the bank's advertising (of which it has done much) is "No account too small to receive courteous wel- come." The carrying out of this policy accounts for a larger than usual official staff. The officers are: John Perrin, president ; Evans Woollen, vice-president aud counsel ; H. A. Schlotzhauer, cashier ; Theo. Stempfel, assistant cashier ; C. W. Minesinger, assistant cashier ; Brandt C. Dow- ney, assistant cashier ; Oscar P. Welborn, auditor.
The Union National Bank-Apart from the commercial motive of this chronicle there is a peculiar pleasure in noting the growth of this latest comer among our national banks, because it has so signally illus- trated the fundamentals of sound banking. There was no sounding of its own trumpet when its doors opened five years ago. No loud or gar- ish advertising spreads; no rich quick methods. Its policies evinced due deference to old banking houses and a close study of the interests and prosperity of those who confided their accounts to the Union Na- tional. Rare prescience was shown in the location of the bank. corner of Court and Pennsylvania streets, one-half block north from Wash- ington. The carnest. helpful and conservative character of the bank was promptly recognized by the community. Its only misjudgment seems to have been the space accommodation for increasing patrons, which has literally pushed through the south walls, carrying the hall and stairs adjoining to the south limits of the building. and claiming the entire ground floor, making their present quarters a model banking house
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BANK.
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UNION NATIONAL BANK.
with safe deposit vaults of most modern pattern. In February, 1907, Vice-President Morrison having passed away, President Richards, the founder and chief investor, announced to the directors his purpose to relinquish the presidency for the less exacting dnties of vice-president. This action, together with an increase of fifty per cent. in the bank's capital, was well timed. Mr. James M. McIntosh was the fortunate se- lection for president. A man of fine legal attainments, was a national bank cashier and eight years bank examiner, and was special examiner for the government. This proved the master stroke of all. The stock of the bank was bid up on the stock exchange eleven points against the well-known efforts of the bank officials to prevent anything which might have the appearance of a speculative tendency, but every effort npon the stock exchange failed to secure a dollar from any holder of the bank's stock.
The officers and directors of the bank are as follows: Officers: J. M. McIntoshı, president ; W. J. Richards, vice-president ; Fred N. Smith, cashier; John A. Ridgeway, assistant cashier; Wm. F. Fox, second as- sistant cashier. Directors : U. G. Baker, glass manufacturer; Dr. J. M. Beraner, physician and surgeon; G. A. Efroymson, Efroymson & Wolf, Star Store, wholesale and retail dry goods; J. M. McIntosh, president ;
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W. J. Richards, vice-president, and partner Noelke-Richards Iron Works ; W. C. Van Arsdel, capitalist; John R. Welch, real estate and secretary Celtic Saving and Loan Association ; Geo. Wolf, real estate; L. C. Walk- er, attorney, ex-judge Superior Court; W. C. Zaring, president A. P. Hendrickson Hat Co.
J. F. Wild & Co., Bankers Indianapolis is well and favorably known as one of the most active financial centers in the country and is the home of a number of prominent and successful firms devoting their attention to all of the various departn ents of banking business.
J. F. Wild & Co. was established as a firm in 1891, and incorpo- rated a's a state bank iu 1905. This bank, in connection with its busi- ness as heretofore, makes a leading specialty of handling high-class mu- nicipal, railroad and industrial dividend paying securities. This bank has taken an mportant part in financing some of the largest industrial enterprises in the city and state, and has handled some of the largest issues of state, city and county bonds. The officers of the bank are: J. F. Wild, president ; E. M. Johnson, vice-president ; L. G. Wild, cashier ; C. F. Siegrist, assistant cashier. The hank is located at 123 East Mar- ket street.
Richcreek Bank, 106 North Delaware Street-Indianapolis has made distinct progress in her banking business during the past few years, more emphatic perhaps than in any other line. Not only has there been a splendid increase in the number of banking institutions, but there has also been a remarkable growth in the resources of the different banks. The Richcreek Bank is one of the later additions to the city's banking facilities, and was established in 1904 by S. M. Richcreek as a private bank, operating under the state law regulating the banking business of Indiana, with resources amounting to $1,000,000. In the near future the bank will be located in its new building at the north- west corner of Market and Delaware streets, which will be one of the finest office and banking structures in the city. It will be eleven stories high, modern in every respect, with a frontage on Market street of 6716 feet, and 78 feet 4 inches on the Delaware street side. Richcreek's bank pays 4 per cent. interest on deposits.
The Indiana Trust Company was incorporated May 1, 1893, being the first trust company in Indiana to incorporate under an act author- izing the organization of trust companies, passed by the General Assem- bly of Indiana, March 4, 1893. The company occupies the entire ground floor of its handsome six-story oolitic limestone building, located at the intersection of Washington and Pennsylvania streets with Virginia ave- nue. Although there have been a number of new office buildings erected in the last few years, this company's building remains one of the most striking and imposing office structures in the city. The capital stock of the company is one million dollars, with a surplus and undivided profits,
VIEW IN NORTH SENATE AVENUE.
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exceeding four hundred thousand dollars, while its assets at the pres- ent time exceed eight million seven hundred thousand dollars. Its heavy capitalization and the high character of its directors and officers, "each one a tried and experienced man in the particular position which he fills," enables it to discharge with signal ability the manifold functions that a trust company is called upon to execute and insure it the great success enjoyed since its organization in 1903, it being by far the largest and strongest trust company in the state. The most important depart- ment of this successful company is its savings department, where depos- its are received in amounts from one dollar upward and interest al- lowed. The deposits of this department at the present time exceed seven and one-half million dollars. At the date of the last published statement by all banks and trust companies its deposits were exceeded by but one national bank in the state, while they largely exceeded the combined deposits of all the other trust companies of Indianapolis, The accounts, which number many thousand. are rapidly growing. In its trust department, the company is authorized by law to act as executor, administrator, guardian, trustee, assignee, receiver, etc. It assumes the management of estates, giving personal attention to the collection of funds, payment of rents, collection of taxes, together with the ad- ministration of the property. It is a legal depository for court and trust funds as well as for funds of every character and description. It buys and sells municipal and county bonds and loans money on first mortgage and collateral securities. The liability of the stockholders of the company, added to its capital and surplus, makes a sum in excess of two million four hundred thousand dollars, pledged for the faithful discharge of its trusts. The company's safety vault department has nearly four thousand safety deposit boxes, which are at the disposal of the public for a yearly rental of five dollars. These vaults are among the handsomest and most complete in the West, are situated on the ground floor and are immediately available from the streets. They fur- nish absolute protection against fire, burglary or water. Commodiously arranged in the rear of the vaults are pleasant coupon booths or apart- ments with all the conveniences necessary for a patron to examine the contents of his box in the strictest privacy and security, two of the apartments being large enough to admit of committee meetings, etc. The real estate department of this company gives evidence of being a very busy department. It employs a large working force and transacts a voluminous real estate, rental and insurance business. The officer in charge of this department is a man of wide experience and excel- lent judgment. The officers of the company are: J. P. Frenzel, presi- dent; Frederick Fahnley, vice-president; J. F. Falley, second vice- president; Frank Martin, treasurer; Bement Lyman, secretary ; John E. Casey, auditor; C. H. Adam, assistant secretary ; H. B. Holloway,
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INDIANA TRUST COMPANY BUILDING.
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assistant secretary ; H. S. Frank, trust officer. The directors are Fred- erick Fahnley, of the Fahnley & McCrea Millinery Company ; Albert Lieber, president Indianapolis Brewing Company ; James F. Failey, capi- talist ; O. N. Frenzel, president Merchants' National Bank ; H. W. Law- rence, president Indiana Hotel Company; Bement Lyman, secretary ; James Proctor, capitalist; Edward Hawkins, president Indiana School Book Company ; Henry Jameson, physician; Henry Wetzel, capitalist, and J. P. Frenzel, president of the company.
The Union Trust Company of Indianapolis, Ind .- To no other cus- todians are such important interests confided as to the trust companies which exert such a power in the financial affairs of all our leading and most progressive cities. The scope and aim of these institutions is primarily the safe keeping and management of funds for heirs, ab- sentees, non-residents and all those whose circumstances do not permit their own personal administration of their affairs. The moral, as well as the material obligations, assumed by a trust company are, therefore, more weighty than those imposed upon any other manner of financial institutions, and it is manifest that their operations should be distin- guished by the utmost conservatism and guided by a management qual- ified by long and active experience and a broad and comprehensive knowl- edge of all matters embraced in the realm of legitimate financiering. An institution which is managed upon the principles above expressed is the Union Trust Company of Indianapolis, Ind., which dates its incorpora- tion back to 1893. The well understood resources, experience in finan- cial affairs and high standing of those to whose enterprise its inception was due, at once placed it among the strongest and most influential institutions of its kind in the west, in fact, in the country, and it has steadily maintained this high position, some of the largest estates in Indiana having been entrusted to it for settlement, including that of the late ex-President Harrison. Its stock is held by leading capitalists and business men to be an investment of the soundest and most remunera- tive character. Its presiding officers and its directors are men whose names are synonymous with all that guarantees financial stability and an energetic, yet conservative management. The officers are: John H. Holliday, president: Henry Eitel, vice-president; H. M. Foltz, second vice-president and treasurer ; Charles S. McBride, secretary ; Ross H. Wallace, assistant secretary; George A. Buskirk, probate officer. The directors are: A. A. Barnes, C. H. Brownell, Thomas C. Day, Henry Eitei, I. C. Elston, William A. Guthrie; Addison C. Harris, John H. Hol- liday, Volney T. Maiott, Augustus I. Mason, Edward L. McKee, Samuel E. Rauh. The company has a paid up capital of $600,000, with a sur- plus and undivided profits of over $500,000. If the volume of business and the magnitude of the interests confided to its care in the varied relations which it holds with its patrons in its capacity as a trust
UNION TRUST QUILOT G
JOS. W.S
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JOS.W.SE REALES IHSURA
UNION TRUST COMPANY BUILDING.
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company are any criterion of the confidence reposed in the manage- ment of the Union Trust Company by the surrounding community and non-resident clients, there are no similar organizations anywhere which can make a better showing. As a matter of fact, this company's serv- ices are held in the same high estimation by the people of Indianapolis as are those of the old established and influential eastern trust com- panies by the people of New York, Philadelphia and Boston. The opera- tions of the company cover a very wide field: they give special atten- tion to the settlement of estates, acting as executor, administrator, guardian, assignee, trustee and agent. They assume entire charge of property and estates for heirs and absentees, paying taxes, collecting rents, interest, dividends, etc., writing insurance, etc., and they also make a feature of the investment of funds for individuals and corpora- tions. A general financial business is transacted in negotiating first mort- gage loans on farm and city property in the best counties in Indiana, and in handling high-grade investment securities, and in this connection their services are invaluable to non-residents seeking investments combining as high a rate of interest as is consistent with absolute safety. A sav- ings department is also maintained. The company have their offices in their own building, Nos. 116 and 118 East Market street, Indianapolis.
The Security Trust Company, Nos. 142 to 148 East Market street, began business in June, 1901. The capital stock is $325,000. From its very inception the company has enjoyed a prosperous business, and its growth has kept pace with the remarkable development in other lines. Wbile transacting all the departments of a trust company business, the company has made a feature of the little steel savings banks which it loans to depositors, requiring an initial deposit of only one dollar to secure one of these safes. The safes are of strong steel and contain a patent device which makes it impossible to shake money out of them. The keys to these safes are kept at the trust company's offices, and there only can the safes be opened. Several thousands of the safes have been taken out hy depositors. The building of the Security Trust Company is located in what is known as the financial district, and has been rebuilt to suit the conveniences of the company ; the entire ground floor and basement is used for that purpose, which includes the safety deposit department. The company loans on real estate and approved stocks and bonds. It acts as trustee under mortgages securing bond issues, and registers stock of corporations. The company also acts as administrator, executor, and in many other capacities. To its clients it offers investments in bonds and Indianapolis mortgage securities. Advice is freely and gladly given by officers of the company in respect to any investments of money, and consultations are invited.
The officers of the company are: Bert McBride, president ; George J. Marott, first vice-president ; Frank M. Millikan, second vice-president ;
-SECURITY-TRUST-COMPANY .-
SECURITY TRUST COMPANY BUILDING.
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A. M. Ogle, treasurer ; Ralph A. Young, secretary. The directors are : George J. Marott, merchant and capitalist ; Frank M. Millikan, special loan agent Northwestern Mutual Life Insurance Company ; Alfred M. Ogle, president Vandalia Coal Company ; George T. Dinwiddie, of Frank- fort, Ind., merchant and capitalist ; James P. Goodrich. president Peoples Loan and Trust Company, Winchester, Ind .; A. A. Young, secretary and treasurer Bedford Stone and Construction Company ; Louis E. Lathrop, Lathrop & Haueisen, bankers and investment securities; W. L. Taylor, attorney at law; Giafton Johnson, packer of peas, sugar corn and to- matoes ; Bert McBride, president.
Farmers Trust Company. 10 East Market street, was organized July 1, 1905, and succeeded C. N. Williams & Co., bankers, who had been extensive dealers in farn. and city mortgage loans since 1879. The loan business of this company has increased very rapidly since its or- ganization and it has recently tiled for record the largest real estate mortgage ever recorded in Marion county, being a mortgage for four hundred seventy-five thousand dollars, which the company is furnishing through its eastern connections to erect the fourteen story office building and lodge rooms that the Grand Lodge, I. O. O. F., of Indiana, is build- ing at the corner of Pennsylvania and Washington streets. No client of this company since the organization of C. N. Williams & Co., in 1879, has lost a single dollar of principal or interest or taken a foot of land in any loan made by it. The company also does a general trust company business. It has a well equipped real estate department where rents are collected, properties bought and sold on commission and the holdings of non-resident owners looked after with careful attention. It also has an insurance department in which fire, casualty and burglary insurance and surety, fidelity and judicial bonds are written. This company acts as administrator, executor, guardian and trustee, and executes trusts of every nature at the minimum of cost and expense. It accepts de- posits subject to check, and in its savings department receives deposits of one dollar or more and allows interest at the rate of 4 per cent. per annum, compounded twice a year.
The Marion Trust Company was incorporated December 10, 1895, with a capital of $300,000, $150,000 paid up; undivided profits, July 1, 1907, $209,137.01, and has all the powers granted to trust companies. Is authorized by law to act as executor. administrator, guardian, as- signee, receiver, depository of money, trustee under wills or by appoint- ment of court, and agent for individuals and corporations. It acts as trustee in cases as designated by court and in deeds, mortgages, or trusts given by persons or corporations ; as agent for the management of property of corporations or persous; as a financial depository for corporations; as agent in issuing, registering, transferring or counter- signing stocks, bonds and debentures; as custodian of wills, and con-
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sults as to them and other trust matters, and receives money in small or large sums as time deposits and pays interest thereon. It thus offers a profitable and secure investment for savings, inheritances and other funds. A special department of the Marion Trust Company is its sav- ings department, in which savings deposits of one dollar and upwards are received and on which interest is allowed, compounded semi-an- nually. Demand and time certificates of deposit are also issued on which special rates of interest are allowed. The advantages possessed by the savings department of the Marion Trust Company over the ordi- nary savings bank is that it has safely invested a large capital that stands as security to its depositors and interest is paid at a fixed rate and not dependent on the earnings of the institution. The officers are Hugh Dougherty, president; Stoughton A. Fletcher, vice-president ; Fer- dinand Winter, second vice-president; Fred K. Shepard, secretary and treasurer. The board of directors are Stoughton J. Fletcher, Wm. A. Hughes, Stoughton A. Fletcher, Hugh Dougherty, Ferdinand Winter, Charles Latham, Julius A. Lemcke, Chas. N. Thompson, W. H. H. Mil- ler. A. W. Conduit, F. K. Shepard.
Home Life Insurance Companies-The paramount question with the insurer in any life insurance company is that of security. A life insurance company is the creature of law, and may be secure or inse- cure as the law is measurably perfect or defective that created it. The chief points to be considered in determining the relative superiority of one company to another as regards security are, first, the requirements of the law under which it is organized as to the character of its invest- ments, and secondly, the custody of the net cost value of its policies. Assets of great size (offset by liabilities of great size), attractive ratios, etc., are relatively unimportant considerations. The stability of a com- pany must depend upon the character of its investments and the safe- keeping of its net cash value of the policies by the state.
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