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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Dec. 31, 1911)
1 12 1IIK OMAHA SUNDAY BKK: DKCKMIlKIi HI, 1911. 1912 marks more than quarter century of continuous success for several leading Omaha concerns ft Merchants 'National Bank Here Since 1S8 1' Splendid Record of Large Financial Institution and Its Officers Deposits, $6,896,000 Capital and Surplus over $1,100,000 The Merchants National Bank was organized and commenced business on October 1, 1882. Through all these years this splendid institution has had but two presidents, Mr. Frank Murphy and Mr. Luther Drake, and the steady growth and eminent success of the bank stand as mighty tributes to these men. Perhaps there is no banker in Omaha who knows more bankers of the country than Mr. Luther Drake, president of the Merchants National Bank. He has been honored by the Bankers' Association of America Jby having served one term as a member of the executive council, and when the American Bankers' Association selected a currency: commission in 1906, made up of representative bankers from all sections of the United States, numbering fifteen members, he was-selected and has served ever since. ' The vice president, Mr. F. T. Hamilton, is an energetic suc cessful man of affairs. He is .the president of the Omaha Gas Co and vice president of the Omaha & C. B. St. R. R. Go. In reviewing the record of a bank there are several impor tant phases to consider and which determine to a large extent the actual progress made. For instance, when a bank shows a large increase in deposits and surplus and has accomplished this with out buying out or consolidating with some other bank, it is justi fied in feeling proud of its achievement. This the Merchants National Bank has done. Furthermore it has the smallest list of O aha Loan and' Building Association THE OLDEST SAVINGS INSTI TUTION IN OMAHA ORGANIZED IN 1883 This association is tho oldest savings institution in the city, and il . i 1 J W J A . Jk . .. - . ' me tiiory or us lire, irora the iirst meeting of its founders in April, 1883, is a story of progress and prosperity. This association was organized a short time before the advent of Omalm'a first real estate boom, which gave to business great im petus, increasing opportunities of emplojTnent and attracting to the ity thousands of people. Naturally the demand for dwellings was inordinately enhanced, with the result that rentals were raised to fig ures beyond the reach of many wage-earners. Thousands of men felt the need of some agency of mutual help, whereby they could acquire homes, and tlie Omaha Loan & Building Association was organized in resouse to this need. , Since its organization, the "Omaha" has assisted 5,737 of its 'members to build homes. It has distributed among its members divi dends aggregating $1,089,753.01, and has built up a resrve fund, wiucu, logeiaer wuu undivided earnings, amount to $133,020.85. The following financial statement shows the condition of the Omaha Loan & Building Association at the close of the year ending December 31, -.L If,'' I ,ui, M UK. Haw MOM I ASSKT3. Loan on fimt mortgages Leant on association shares of stock... interest duo from members Keal estate acquired through foreclosure. foreclosures pending Furniture and fixtures ..... McCague building Contract sale Douglas block..... Sundry persons and accounts. ....... ,r. Cash on band and in bank............ I4.2C7.829.28 69,129.25 3,316.41 4.777.G9 6.773.63 3.981.46 136. 691.68 36.000.00 433.17 144.997.83 Totals IJAIUUTILS. Running etock and dividends. ..... ... ', , Paid-up stock and dividends.... ,. Due on Incomplete lotus Keserve luna Undivided earnings....... .... . i S4.672.930.19 14.104.709.64 338.673.64 . 96.526.06 118.768.65 14.252.30 Totals 34.672.930.19 Increase of assets during 1911 $776,118.68 Dividends paid to stockholders during 1911,. 228,035.48 Increase Jn reserve fuud and undivided profits. J27.3U9.44. As a further ludlcatiou of the solidarity of this associ ation and the care lth hkh its stockholders Interests 1911: are safe-guarded by the officers. It U noteworthy that, although the loans amount to $4,267,829.28, the delin quent interest amounts to only 83.316.41. This testifies to the substantial character of our assets. The past year has been one of growth nd increased usefulness An unusually large number of houitsj have been built, owing in part to the greatly reduced cost of building material. Prescut conditions warrant tue predic tion that the rotutug year will be ouo of continued growth. We are already taking applications for loans for the pur pose of building next sprlug. Loans made on the easy payment plan at the lowest building association rate. OMAHA LOAN AXD lllll.bl(i ASSOCIATION, Northwest Corner J3Ui and Doilae Sts. OPFICKltH AXU DlfUXTOKS: G. Xf. Looinls. . w, it. Adair, ... o,'!!1.deJlt- eec'' nl Treas. W. 8. Wright. J. T. Helgren. Vice President. Asst. Soc'y. F. H. Gaines, Couuael.v John 1C. Butler. M. M. Kobertson. " W. Soott King. II. 3. Tenfold. E. A. Farnielee. Canaries E. Black. n-..w .. ... ,I.T,. m i i, . -i i, " ,L . ' , " V ' ' ' ' S stockholders of any bank in the city. The growth, therefore, has been, a large and healthy one; based upon the principles of merit and reliability which spell the success of all big financial institutions. Moreover, the. sterling character and splendid ability of its officials round out the success to a degree which makes Omaha proud indeed that the Mer chants National Bank is here. All of the present officers worked their way up'from minor positions in the bank and all had practical opportunity to learn the banking business thoroughly., This, perhaps, explains to some extent the perfect systems and effective f methods which manifest themselves most forcibly in results accomplished. President Luther Drake, Vice President F. T. Hamilton, Cashier Fred R Hamilton and Assistant Cashiers B. H. Meile and C. B. Dugdale now constitute the list of officers and it requires the services of thirty-five employes to handle the business. . . v Annually the number of depositors and amounts of their deposits increase and the management of this big institution feels justly proud. Fred Brodegaard & Co., The Sign of the Crown A Watchmaker Who Learned to Build Any Part of Timepiece la Recognized as Expert., Has Tremendous Trade in Watches and Diamonds Hospitable Host at Country Home. 1 Fred Brodegaard'a generation la the third of a family of watchmakers who, after mastering the trade in Denmark, went to Switzerland to gala the best that Swiss skill taught. Fred Brodegactrd, after serving six years as apprentice to his father and halt a year as a journeyman, came to this couutry and was a watchmaker for such leading firms as Giles Bros, and Matson & Co., Chicago, for several years, where the watchmaker had to be able to handle the finest of work and make any part himself. Then coming to Omaha twenty-six years ago be bought out Captain William Neve at 514 Soihh Tenth street and building up a large trade stayed there eighteen years. Then he bought the store at No. 115 South Sixteenth street to get into the new retail center of the city, leaving his brother In charge of the Tenth street store to accommodate the railway men's trade three years and then con solidating interests on Sixteenth street. Through a prize competition for the best trademark the sign of the crown was adopted. "It chines out and above everything all the time," his patrons declared, and thus it come to stand for the highest and best. Recognition of Mr. Brodesaard's skill and judgment has been bestowed upon Mm four years In his appoint meat as otfic'al vsuu inspector of the Union Pacific and tho Omaha railroads. That Is the tribute of the roads to htm, i , Itut the general public lias also set the stamp of its approval upon him as an expert watchmaker and. dealer. Ho sells more of really good, reliable watches than of any other line of his goods and his line of watch repairing is the largest In the city. Not only this, but his watches are In such deiuaud that a large business Is done supply ing tbem through mail orders. Popular-priced rUamnnas are a leading part of thi.i , Louse's trade, the stock carried being one of the largest in the city. Beal.e this a general stock of sterling silver, .sliverare and cit glaea Is kept. Twice a year tne Uroucgaard "Manufacturers' Sales" are held, the house being enabled to do this through buy log direct from mivmi'i-cturers. Alfred ErcdcgaarJ. the youngir brother of Fred, who learned his trade uuder him. llv-s up to the family tra itions by being a master of tto craft and 1s a purtuer auj in special charge of the mall order trade in watches and diamonds. V 4 i I 1 i ? t Fred Brodegaard i Resides bin business and social life, as Indicated al ready, Fred Brodegaard Is a director of the State Build ing & Loan Association and partner in the Crown Pipe Manufacturing Company. Holiday trade U enormous. I.at year from December 1 to Christmas two sets of salesmen and saleswomen had lo bo oil duty, for customers did not permit the store to be closed before 11 o'clock any night. In all thone three weeks last December, Fred Brodegaard did not see bis country home or his wife and children. And that reminds one that that country home a chateau, his friends call It Is a place where Mr. Brodegaard and his wife exercise the grace of hospitality bountifully. "Fredensborg" Is the name of the country home, that meaning "A Peaceful Place," the name adopted by tbe king of Denmark for his home. It has a spacious houe and grounds, the houne with a large cellar for a ban quet hall and hall for the local Improvement club. The little farm ratees the pigs, geete, chickens and ducks, the grapes, asparagus, berries and many vegetables served on the table and is an Independent principality in having its own as and water plant. When "Fredens borg" was opened six years apo July 3, it had COO guesls and tliey danced until the weo small Louis and feasted to their heart's content. n i : I y - ' f r . t', Iff 7 r J i s J : is