USA > Nebraska > Douglas County > Omaha > History of the city of Omaha, Nebraska > Part 64
Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).
Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | Part 16 | Part 17 | Part 18 | Part 19 | Part 20 | Part 21 | Part 22 | Part 23 | Part 24 | Part 25 | Part 26 | Part 27 | Part 28 | Part 29 | Part 30 | Part 31 | Part 32 | Part 33 | Part 34 | Part 35 | Part 36 | Part 37 | Part 38 | Part 39 | Part 40 | Part 41 | Part 42 | Part 43 | Part 44 | Part 45 | Part 46 | Part 47 | Part 48 | Part 49 | Part 50 | Part 51 | Part 52 | Part 53 | Part 54 | Part 55 | Part 56 | Part 57 | Part 58 | Part 59 | Part 60 | Part 61 | Part 62 | Part 63 | Part 64 | Part 65 | Part 66 | Part 67 | Part 68 | Part 69 | Part 70 | Part 71 | Part 72 | Part 73 | Part 74 | Part 75 | Part 76 | Part 77 | Part 78 | Part 79 | Part 80 | Part 81 | Part 82 | Part 83 | Part 84 | Part 85 | Part 86 | Part 87 | Part 88 | Part 89 | Part 90 | Part 91 | Part 92 | Part 93 | Part 94 | Part 95 | Part 96 | Part 97 | Part 98 | Part 99 | Part 100 | Part 101 | Part 102 | Part 103 | Part 104 | Part 105 | Part 106 | Part 107 | Part 108 | Part 109 | Part 110 | Part 111 | Part 112 | Part 113 | Part 114
430
HISTORY OF THE CITY OF OMAAILA.
DOUGLAS COUNTY BANK.
The Douglas County Bank was established in 1885, as a private institution, by C. S. Parrotte, at the northwest corner of Six- teenth and Chicago Streets; the capital stock being increased to $100,000 upon the incor- poration of the bank soon afterwards, at which time Mr. C. S. Parrotte was elected president; J. II. Parrotte, vice president, and Samuel E. Sample, cashier. In 1889 the bank removed to the Kirkendall Building, sontheast corner of Dodge and Sixteenth, and on the 25th of November, of that year, wound up business by going into voluntary liquidation.
NEBRASKA SAVINGS AND EXCHANGE BANK.
Nebraska Savings Bank commenced busi- ness October 3, 1887, in the Board of Trade Building, at the southwest corner of Six- teenth and Farnam Streets, with an author- ized capital of $400,000, and a paid in capital of $100,000. John L. Miles, president; Andrew Rosewater, vice-president; Dexter L. Thomas, cashier; T. J. Mahoney, attor- mey. The first board of directors consisted of the following named gentlemen: John L. Miles, Dexter L. Thomas, Samuel Cotner, James Thompson, Alvin Saunders, John Rush, Andrew Rosewater, Samuel D. Mer- cer, J. H. Evans, Erastus A. Benson, Morris Morrison, George E. Barker, F. B. Johnson, Peter Glandt, Nathan Merriam.
November 21, 1887, W. A. L. Gibbon was appointed assistant cashier, and was placed in charge of the branch office at South Omaha, which was at this time opened. January 15. 1889, Andrew Rose- water was succeeded in the vice-presi- dency of the bank by Samuel Cotner, who served until January, 1892. At the annual meeting in January, 1890, the name of the bank was changed from the Nebraska Savings Bank to the Nebraska Savings and Exchange Bank, and in the fol- lowing Jnly the South Omaha branch, with the building that had been erected there,
was sold to the Packers National Bank of that place.
On December 8, 1891, Mr. John L. Miles, who had been president of the bank since its organization, and who had been for a long time in poor health, resigned his posi- tion, and Mr. John Rush was elected presi- dent. Mr. Miles died the same month, on Christmas day, at his home in this city.
The present officers are: John Rush, president; Clinton Orcutt, vice-president; Dexter L. Thomas, cashier. The directors are: John Rush, J. H. Evans, E. Rosewater, E. A. Benson, Clinton Orcntt, L. G. Kratz, James Thompson, David Anderson, Alvin Saunders, Geo. E. Barker, Andrew Miles, Dexter L. Thomas, N. A. Kuhn, W. S. Gibbs.
The authorized capital has been reduced from 8400,000 to $200,000, and the paid up capital has been increased from $100,000 to $150,000, from the earnings of the bank. October 6, 1892, the deposits of the bank were $417,100. Number of accounts opened since commencement of business, 3,926. The bank has made 6,068 commercial loans and 520 real estate loans.
THE STATE NATIONAL BANK.
The State National Bank, which opened for business in the spring of 1887, at the northwest corner of Harney and Fifteenth, with a capital of $100,000, was a short-lived institution. Its chief stockholder was E. L. Lyon, who came here from Marshalltown, Iowa, where he had been engaged in the banking business for some time. Ile was president of the bank and A. A. McFadden, cashier. A few months later Mr. Lyon sold his stock to Mr. E. E. Whaley, of Loup City, Nebraska. An inspection by Bank Exami- ner Griffith, disclosed the fact that a consid- erable portion of the bank's assets consisted of Mr. Whaley's paper, which had been re- ceived in payment of Mr. Lyon's interest, and the directors were notified that this paper must be converted into cash within
431
BANKS AND BANKING.
twenty-four hours or he would be compelled to take charge of the bank. Within the time specified the directors adopted a resolution to close up the business, which was done. Some three months later, Mr. Lyon, having returned to Omaha from California, re- purchased his interest from Mr. Whaley, and permission was obtained from Washington to resume business, but the experiences it had passed through were so demoralizing in their effects that the efforts to re-establish the business was unsuccessful, and in a few weeks the doors of the bank were closed.
THIE OMANIA BANKING COAPANY.
The Omaha Banking Company began business in the summer of 1887, with a capi- tal of fifty thousand dollars, at No. 320 South Fifteenth Street, removing a year later to the corner building previously oc- cupied by the State National Bank. Clifton E. Mayne was president, Patrick Ford, vice president, and J.W. Gross, cashier; the latter being succeeded by Hartford Toland, and he by Thomas F. O'Brien. The business proved unprofitable and the directors closed it up June 30, 1889.
MECHANICS' AND TRADERS' BANK.
The Mechanics' and Traders' Bank began business March 1, 1888, at No. 318 South Fifiteenth Street; authorized capital $250,- 000, with fifty thousand dollars paid in. Richard C. Patterson and Frank Barnard were the main stockholders. The bank vol- untarily closed its business February 1, 1890.
GERMAN-AMERICAN SAVINGS BANK.
The German-American Savings Bank, lo- cated in the Commercial National Bank Building, was established in 1889, with an authorized capital of $250,000, and a paid in capital of $25,000; Jefferson W. Bedford, president; J. R. Harris, vice president, and J. W. Ilarris, cashier. It is, at this date, November, 1892, winding up its business and turning over its deposits to the Ameri- can Savings Bank.
ANGLO-AMERICAN MORTGAGE AND TRUST COM- PANY.
The Anglo-American Mortgage and Trust Company, opened a banking house in 1888, at No. 405 South Fifteenth Street; capital stock $300,000 ;. L. W. Tulleys, president; J. N. Brown, vice president; J. V. McDowell, secretary, and E. B. Walters, treasurer; has since gone out of business.
THE GLOBE LOAN AND TRUST COMPANY SAVINGS BANK.
On March 25, 1890, the Globe Loan and Trust Company Savings Bank was organized, with the following officers and board of di- rectors : President, H. O. Devries; vice president, Cadet Taylor; cashier, W. B. Tay- lor; assistant cashier, Charles E. Williamson. Directors: W. J. Broatch, Hugh G. Clark, B. S. Baker, J. B. Dennis, D. H. Wheeler, E. M. Stenberg, HI. K. Burket, D. T. Mount, Jolin Jenkins, and the above officers.
It opened for business April 1st, at 307 South Sixteenth Street. The subscribed cap- ital is fifty thousand dollars, with twenty- five per cent. paid in, and seventy-five per cent. subject to call by the board of directors.
The Globe Loan and Trust Company, which has a paid-in capital of $200,000, owns the controlling interest, and the bank is managed by the same officers. The growth of this institution during the first year con- vinced the board of directors that they must provide a permanent home of their own. The ninety-nine year ground lease, and Globe Building, southwest corner of Dodge and Sixteenth Streets, was purchased in No- vember, 1890, and fitted it up expressly for the accommodation of the savings bank and trust company business, and was occupied in April, 1891.
Since the organization of the Globe Loan and Trust Company Savings Bank there has not been a single change among its officers, and the same is true of the Trust Company.
The Boards of Education of Omaha and
432
HISTORY OF THE CITY OF OMAHA.
South Omaha designated this Savings Bank as the school savings depository, and the system was introduced in May, 1890. The schools savings system has the cordial sup- port and co-operation of parents, pupils, teachers and public school officials, and its beneficial influence upon the rising genera- tion is conceded by every one conversant with the workings of the system. The total school deposits are about $7,400, and there are about 4,800 school children who are depositors.
This bank has had a continuous growth. It began business in the midst of the dull period and financial stringency of 1890, and yet it has grown steadily from the first. It does no commercial, but a strictly savings bank business, and loans only on first real estate mortgages, or approved collaterals. The deposits the first day were $1,564.14. The semi-annual growth has been as follows: May 6, 1890. $ 2,208.10
November 6, 1890 11,010 17
May 6, 1891. . 30.006.60
November 6, 1891. 53.884.13
May 6, 1892 84,976.67
July 6, 1892 99.460.94
November 1, 1892 109,958.80
The number of accounts, November 1, 1892, were 7,442.
DIME SAVINGS BANK.
The Dime Savings Bank, of Omaha, is the outgrowth of the savings department of the the Mutual Investment Company, the first institution west of Chicago to receive de- posits of less than one dollar. The bank was incorporated under the new banking law of the State, March 1, 1890, with a paid up capital of $25,000. It had at that time deposits amounting to $16,154, and accounts to the number of 681.
March 1, 1891, its deposits were .... $35,742 Number of accounts 1,956
March 1, 1892, deposits 77,156
Accounts. . 4,888
Deposits now (October, 1892) about. 90,000 Accounts. 6,009
Its first board of directors was: P. C. Himebaugh, W. H. Russell, G. H. Payne, F.
II. Taylor, W. A. Goddard, G. M. Nattin- ger, llon. Alvin Saunders, F. W. Ilills, Na- than Merriam, J. A. Gillespie, W. F. Allen. And its officers were: P. C. Ilimebaugh, president; W. H. Russell, vice president; G. H. Payne, cashier.
Its present officers are: W. H. Russell, president; W. F. Allen, vice president; J. G. Cortelyou, cashier.
The increase of its business has been such that at a late meeting of the directors it was decided to double its paid up capital, making it $50,000.
TIIE GERMAN SAVINGS BANK.
The German Savings Bank commenced business June 2, 1890, in the building at the southeast corner of Thirteenth and Douglas, which the Commercial National Bank had just vacated. The authorized and subscribed capital is $500,000. The paid in capital is $100,000. The board of directors consists of Frederick Metz, Sr., Frederick Krug, Henry Bollin, Charles J. Karbach, Henry Meyer, George Heimrod, L. D. Fowler. The officers are: Frederick Metz, president; Charles J. Karbach, vice president; L. D. Fowler, cashier. December 24, 1891, the bank moved from Thirteenth and Douglas to its present beautiful and convenient office, in the Karbach Block, at the corner of Fifteenth and Douglas. The business of the bank has steadily grown, as evidenced by the following figures:
June 21, 1890, the deposits were $ 57.114.49
June 30, 1891, the deposits were 333.547.56 June 27, 1892, the deposits were 635.558.60 July 12, 1892, the deposits were 650,563.49
THE CITIZENS BANK.
December 7, 1886, W. G. Templeton and A. D. King, from Fremont County, lowa, where Mr. Templeton had served as county clerk four years and Mr. King as county treasurer six years, established, at 2408 Cum- ing Street, the Citizens Bank, with a capital of $10,000. Mr. King was at the same time the president of the Hitchcock County Bank,
433
BANKS AND BANKING.
of Culbertson, Nebraska, where he now (October, 1892) resides, having disposed of his Omaha interests.
The bank was incorporated September 1, 1888, with an authorized capital of $100,000; paid in capital, $25,000, and within six months from its incorporation $27.500, ad- ditional capital was paid in, raising the paid up capital of the bank to $52,500. The first board of directors consisted of W. G. Tem- pleton, Isaac Johnson, J. A. Patrick, George E. Draper, A. Il. Sanders, George A. Day, James Hendrickson. The officers were: George E. Draper, president; F. C. Johnson, vice president; W. G. Templeton, cashier; J. A. Patrick, assistant cashier. On July 1, 1890, W. G. Templeton accepted the cashier- ship of the Midland State Bank, on Six- teeuth street. Mr. J. A. Patrick, the assist- ant cashier, was in charge of the bank until September 2, 1890, when he was elected cashier in place of Mr. Templeton, resigned. W. R. Roberts was at the same date elected assistant cashier, and in September, 1891, was elected cashier.
At the annual meeting, September, 1892, the present board of directors was elected, consisting of W. G. Templeton, George E. Draper, F. C. Johnson, A. H. Sanders, Mar- tin Tibke, James Hendrickson, W. R. Roberts. The officers are: George E. Draper, presi- dent; F. C. Johnson, vice president; W. R. Roberts, cashier. The deposits of the bank at the date of its organization as a State Bank, September, 1888, were $22,375. The deposits on October 7, 1892, were $65,700. The bank occupied its present attractive quarters, at the corner of Twenty-fourth and Cuming Streets, on Thanksgiving Day, 1890. AMERICAN SAVINGS BANK.
This is an outgrowth of the savings de- partment of the American Loan and Trust Company. It was incorporated June 22, 1888, with a paid in capital of $100,000. The officers and directors were: O. M. Car- ter, president; C. S. Montgomery, vice-pres-
ident; Philip Potter, treasurer; A. C. Powell, cashier; H. R. Gould. It occupied the base- ment under the United States National Bank, at the south-west corner of Twelfth and Farnam Streets, until January, 1890, when it was moved to the Opera IIouse Building, corner Fifteenth and Farnam. On December 15, 1892, it moved into spa- cions and elegant quarters on the main floor of the New York Life Building, at the corner of Seventeenth and Farnam. This bank has lately absorbed the deposits of the German American Savings Bank, retired from business. The American Savings Bank is conservatively managed and has had a steady and healthful growth. No changes have ever occurred in its officers or board of directors, which remain the same as at its incorporation, in 1888.
OMAHA LOAN AND TRUST COMPANY SAVINGS BANK.
This institution is an outgrowth of the savings department of the Omaha Loan and Trust Company. The department had been started as a branch of the business of the Trust Company, in 1888. It was regularly incorporated under State law in October, 1889, with a capital stock of $100,000, of which $50,000 was paid in. The first board of directors consisted of the following prom- inent business men: J. H. Millard, J. J. Brown, E. W. Nash, Thomas I. Kimball, Guy C. Barton, George B. Lake, A. U. Wyman.
The officers were: A. U. Wyman, presi- dent; J. J. Brown, vice-president; W. B. Mil- lard, treasurer. There has never been any change in the board of directors. The pres- ent officers are: . A. U. Wyman, president; J. J. Brown, vice-president; W. T. Wyman, treasurer; Frank Brown, cashier. The bank, at the date of its incorporation, occupied quarters in the Millard Ilotel Block, at Thirteenth and Douglas Streets, but upon the completion of the J. J. Brown Block, at the corner of Sixteenth and Douglas Streets,
28
434
HISTORY OF THE CITY OF OMAHA.
the bank moved to that location, where it occupies a handsome and convenient bank- ing room on the main floor.
The bank, as previously stated, was in- corporated in October, 1889. Its deposits December 31st of that year, amounted to $282,000. On December 31, 1891, the open accounts on the books of the bank numbered 967, averaging $341 apiece, or a total de- posit, exclusive of certificates, of $506,000.
Mr. A. U. Wyman, the president of the bank, was for a number of years the treas- urer of the United States, and has a national reputation. Added to this the directorate is especially strong in men of well known financial ability. The success of the institu- tion is therefore assured.
MIDLAND STATE BANK.
Midland State Bank was organized July 1, 1890, succeeded to the business of the Six- teenth Street branch of the National Bank of Commerce, which in turn had succeeded to the business originally started in this neighborhood, by Garlichs & Johnson. Its authorized and subscribed capital is $100,000; paid in capital fifty thousand dollars. The first board of directors consisted of the fol- lowing persons: F. C. Johnson, W. G. Tem- pleton, J. N. Cornish, Allen T. Rector, George Draper, George A. Day, George E. Barker and HI. N. Wood. January, 1891, the
directorate was increased to ten by adding Lee W. Spratlin and William Sievers. The first officers of the bank were: F. C. John- son, president; Allen T. Rector, vice pres- ident; W. G. Templeton, cashier. On April 1, 1892, the number of directors was re- duced from ten to five. The present board is as follows: F. C. Johnson, C. A. Sharp, W. G. Templeton, William Sievers and W. R. Roberts. The officers are F. C. Johnson, president; C. A. Sharp, vice president; W. G. Templeton, cashier.
SOME OMANIA BANK STATISTICS.
DEPOSITS OF THE OMAHA CLEARING HOUSE BANKS FOR YEARS ENDING
October 2, 1890. $18.382,618
September 25, 1891 14.739,860
September 30, 1892 18,196,422
AGGREGATE DEPOSITS OF OMAHA BANKS ON JULY 12, 1892.
National Banks
$19,626.213
State Banks
1,130.081
Savings
2,855,764
$23,612.058
EXCHANGES OF OMAHA CLEARING HOUSE SINCE ITS ORGANIZATION.
Per Ct. of
For Year Ending.
Amount
Increase.
September 30, 1885 $ 51.428 609
September 30, 1886
82,690,570
60.04
September 30, 1887
137,220,534 65.09
September 30. 1888 166,007,003 20.09
September 30, 1889
201,250,166 21.02
September 30, 1890
245,062,456
21.07
September 30, 1891
221.128,895 *9.07
September 30, 1892
272,939,692
23.01
*Decrease
CHAPTER XLIX.
OMAHA'S PARK SYSTEM - THE STRUGGLE FOR JEFFERSON SQUARE - BOULEVARDS.
In platting Omaha a reasonable provision was made for public parks, considering that in 1854 very little attention had been given by eastern cities to a matter now deemed of the utmost importance by all enterprising communities. The seven blocks bounded by Eighth, Ninth, Jackson and Davenport Streets had been set aside for that purpose. The block bounded by Fifteenth, Sixteenth, Farnam and Douglas was christened Wash- ington Square, and at first designed for public uses, but was within a very few years deeded to the county as a site for a court house.
JEFFERSON SQUARE.
Jefferson Square was also platted as a park, and is the only spot left to the public within the boundaries of the city proper for park purposes, and from the earliest history of Omaha an almost continuous struggle has been maintained to convert it to other uses. In 1858 a resolution was offered in the city council providing that lots 3, 4, 5 and 6, in that block be set apart for school purposes. The same year a proposition was made to sell the square but City Solicitor George I. Gilbert, to whom the matter was referred, reported that the council could not make a legal transfer of public grounds. After- wards a school building was erected on this block and in October, 1867, a special council committee reported, recommending that said building be at once removed, which report was adopted.
In January, 1868, one J. L. Williams pro- posed to lease Jefferson Square for market house purposes, and the council committee to whom the matter was referred reported that they " had conferred with many prom-
inent property holders of the city, and that they were all in favor of the proposition," hence the committee recommended that the proposition be accepted, reserving to the city the right to purchase the market house at the end of six years, at a fair valuation. The report was laid upon the table, and the council, in " the rush and hurry of business," forgot to take it up again. Six months later the board of school directors made a proposition to lease the ground for a term of twenty-five years for school purposes, and a resolution was offered in the council direct- ing the mayor to make a lease with the directors of " School District No. 1," for said term, on condition that the school board erect a three-story brick building, on the square, to cost not less than 840,000, and to be completed by the 1st of October, 1869; the block to be enelosed by " a substantial and comely paling; the grounds laid out and ornamented with trees, etc., under the direction of a competent landscape gardener," and conditioned further: "That at the expiration' of the said term of twenty-five years said city shall either purchase, at a fair appraised value, the improvements on said square, or extend and continue the duration of said lease on such terms and for such length of time as the parties thereto may agree upon, the choice of the alterna- tive to rest with the city." The report of the committee was adopted, but for some reason not appearing of record, the scheme was not carried into effect.
In 1870 Lyman Bridges made a proposi- tion to the council to build a market house on Jefferson Square, but the committee to whom the matter was given for consideration
435
436
HISTORY OF THE CITY OF OMAHA.
and investigation reported in favor of an indefinite postponement of the subject, which report was adopted. In 1872 a resolution was adopted by the council offering the block to the general government as a site for headquarters buildings for the Department of the Platte, and a special committee appointed to bring the matter to the attention of Gen- eral Ord, then commanding said military department. That officer passed the proffer along to his superiors, through the regular, red tape channels, and there the matter ended. In 1877 an effort was made in the council to provide for the establishment of two market houses, one to be located on Jef- ferson Square, and the other south of Farnam Street, but failed to secure enough votes and the following spring the ground was graded, seeded down, fenced, and trees planted in the square and on the curb line of the streets by which it was bounded, by Mr. James T. Allan.
But this did not end the struggle to divert the property from the purposes to which it had been dedicated more than a score of years previously. In April, 1878, the judiciary committee of the council and the city attorney were directed to "inquire into the right of the city to Jefferson Square, with a view to having Douglas County and the city put up a building, or buildings, for the joint use of the county and city, and to fix a value upon the property." These offi- cials reported that the city council could not convey to the county any title to the property; that the erection of a joint build- ing by the county and city would be carry- ing into effect the public purposes for which the ground had been dedicated, and that the value of the property was $16,000, and a few days later a resolution was adopted offering the ground to the county commis- sioners "as a site upon which to erect, jointly with the city, public buildings for the use of the city and county, subject to the valua- tion as fixed by the city council, to-wit: $16,000, two-thirds of that amount to be
allowed to the city by the county for the privilege of the joint occupancy of said square." This generous proposition was not accepted by the commissioners, who were, at that time, negotiating for the purchase of the block upon which the court house now stands. In May, 1882, Mr. Webster Snyder presented to the council a scheme by which he was to furnish a city hall free of expense to the taxpayers. Hle proposed to erect, at an expense of $100.000, a building on Jefferson Square; of generous dimensions, the lower story of which was to be used as a market house, and the second story for city offices and council chambers. There was much discussion of this proposition, but it was suffered to drag along for a year, and was then finally re- jected by the council.
In May, 1887, a resolution was introduced in the council by Alderman Bailey, author- izing the sale to the government for a post- Office site, of the west half of the square, for the nominal consideration of one dollar, the sale of the remainder for what it would bring in the market for business or residence purposes, and the purchase, with the money thus received, of the block known as the Governor Izard block, or some other square, in that vicinity, for park purposes. The resolution was rejected by the council.
In the latter part of 1888 a strong effort was made to have the site of the city hall- located by a vote of the citizens at the northeast corner of Farnam and Eighteenth Streets two years previously- relocated and Jefferson Square used for that purpose. The proposition was submitted to a vote in February, 1889, and overwhelmingly decided in the negative. Then a few weeks later the property was included in a large list of sites proposed for the new postoffice build- ing, for which an appropriation of $1,200,- 000 had recently been voted by Congress, but was not considered desirable for that purpose by the treasury department, whose agent was sent to Omaha to select a suitable
437
OMAHA'S PARK SYSTEM.
site. On this occasion the value of the ground was fixed at $400,000-certainly a handsome increase over the figure given eleven years previously, and affording a fair indication of the changes wrought in the valne of Omaha real estate, by the wonder- ful growth of the city during that period. It will be seen that this small spot on the earth's surface has had a remarkable history, and it is a matter of surprise that it still re- mains free to the public. The trees which were planted in the spring of 1878 have attained considerable size, and now afford abundant shade. The square was improved considerably in 1889 by the park commis- sion.
Need help finding more records? Try our genealogical records directory which has more than 1 million sources to help you more easily locate the available records.