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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Feb. 27, 1916)
D BOARD ROOM BUSY REE HOURS A DAY f Where Thomands of Bushels of Grain Are Sold in Short Time by Hustling Dealers. BRAIN OF THE GRAIN EXCHANGE SCENE IN THE BOARD ROOM OF THE OMAHA GRAIN EXCHANGE Flashlight photograph made while trading was actually in progress in the great, high-ceilinged room, where millions of bushels of grain change hands. Thr bis; room hi which the (train ex- i chanse actually operates Is located on tha seventh floor of the new bulldtn.. It ! hljfh ceiling extending up to the level of the eighth floor celling. A balcony over looking the pit la entered directly from the eighth floor hall. This big floor Is the center of the grain business In this part of the country. It Is like the brnln la to the human body. To thts room come innumerable wlrva, both telegniphlc and telephonic. To this room conic report of grain prices, receipts, shipments and ao on from Minneapolis, Chicago, Uverpool, land are marked up on the big blackboard t.lmost as soon as they are marked on Vhe blackboards where they oriwlnated. Here Is heard -the busy hum of the traders' voice mingling with tha inces sant click of many telegraph keys and the "ticker " l . - I . V .... ne rioor is strewn w in -Tain which h-as been spilled from the sample pans. This Is the room where tens of thou sands of bushels of grain are sold hourly from 10 a. m. to 1 p. ni. The big. high-celled room has walls fin ished in tan and gold fresco and orna mented with tho monogram of the Omaha Grain exchange. There la a big may of the Vnited Klatee which is marked up every morning by the weather bureau to show the statu of the weather evcrjrwhore. There la a big bulletin board. But the biggest board of all is the board that extends across almost the entire aouth aide of the room and elevated ten or twelve feet above the floor. A. railed footway runs along thl board, where the boya stand who watch the ttoker and mark up the quotations, etc. What the Board Shows. The board shows everything that a grain man wants to know and its infor mation is drawn from the ends of the earth. Here is "visible supply," under which is given the visible supply, of all kinds of grain in the United States and the visible apply in the world. Receipts, shipments and clearance of various grains at the primary markets hown. Also dally receipts at Mlnne- lis, Duluth, Winnipeg. Chicago, Kan City and St. Louis. I'nder Omaha are given the receipts, shipments and visible supply of the vari ous grains each day. Chicago "futures" of wheat, corn and . - ' '" 1 1 ... ..... in " ' m 1 t-s..r.a v . . !.'. il - rV 11 '.""It " r.O ;-,,. h- ; feL - ... Ml !l i! ' J 1MI - - ""ii i i " " r 111111 '" ' ' '11 I '' - i . i i v FIRST DAY SALES IN HEWEXCHANGE Business Started Briskly Just as It Did Twelve Years Before at Very Beginning. , ik jp. - - J oats are quoted for May, July and Sep tember. ' The I'nlted States government report on the growing grain crops is given for "today," "laat month," "last year" and "ten-yeur average." Minneapolis, Kansas City and St. Louis "futures" are given and even the live stock receipts. Telephone and Tables, Thirty private telephone booths are along the south wall below the black board. At one nd of tha room are the telegraph operators, continually sending out messages, operating with their right hands while they write with th!lr left. Messenger boy come and go. Fourteen marble-topped table are In tha room. Each has rour drawer. The are the sample tables. The pans of grain samples brought from each car of grain In the Omaha market eaoh day are placed In these drawers. When the market opens the firms take out the aamplea and seek buyers for their wares. When a sale Is made this Information Is conveyed to the boy up at tho board by ending the quotation up on a mechanical carrier so he can chalk it up on tho board. SOUTHERN PACIFIC HERE TO GET SOME OF BUSINESS The Southern railway, while Its rails do not enter Omaha, maintain an office here s'nee 1!12. realizing the Importance of Oinnha especially since the drain ex change was started. The object and policy of the great Southern ystenY Omaha office Is to assist In cementing the business ties of the south and went In all the various commodities that they Interchange. It take but a minute of ttm to save dollar when you read The Me Wnt Ad column. SOME RECORDS FOR STARTS The same day sw the opening of the new Omaha Oraln exchange building marked the close of the twelfth year of the exchange'a history. January SI. The exchange began huntne February I. 1'. On lliat day (lurdon W. Wattles, then prcMilent of the I'pdlke Grain company n well as president of the exchange, made the f rst sale, selling G.ooo bushels of wheat shipped from his own farm In Hoyd county, Nebraska. The first sale In the exchange' new home was made by O. 11. Wright of the Nebraska-Iowa Oraln company. He sold a car of com shipped by J. R. Itentley of Hamburg, la., to the Trana-Mlalan Ippl Oraln company. reireented by C p. Sitirtevant. The price was 7n cents a bushel. First Option Hale. The first option from the floor was from the Nebraska-Iowa tlraln company to Joseph McOrath of the t'pilike Oraln company to sell M.Ono bushels of May wheat on the Chicago exchanue. Significant of the site and importance of this exchange was the Volume of busi ness on the opening day in the new hulld- Inif. Corn rerelpla for thai d iy were the largest union a'l the exchanges of the entire country. Wheat receipts were ex ceeded only by one market. Minneapolis. Thl I a most remarkable record, the more so when It la remembered that Omaha' Is one of the very youngest ex change In the country. What Omaha will be when It has had a chance to grow like most of the other exchanges have had Is a pleasant thing for Omha and particularly the men if the exchange to contemplate. Will Yet Bs Biggest. All signs point to Omaha as the big grain market of ths country. Situated In the heart of the grain producing country, with an unrivalled network of railroads reaching In every direction Into hundreds of mile of tields of grain and with an equipment eeond to none, with a body of men In Its personnel who aro alert and progressive and with a reputation for hon esty and fair dealing that I known every where, Omaha Oraln exchange' future 1 radiant with promt. United States National Oldest of Local Banks A large amount of the grain business of Omaha la done through the United Htatea National bank, which now occu pies its handsome new home at six teenth and I'arnam streets. Thl Is tha oldest established banking house In Ne braska by succession. In IW Kira Millard founded In Omaha tha banking house of Marrows, Millard Co. In IW 8. S. Caldwell entered Into the partnership and the firm name changed to Millard, Caldwell A Co.. end In W the name was again changed to Caldwell. Hamilton Co. About thla time all over the country the private hanking firms were gradually going Into the national or state system, and ill 13 Caldwell, Hamilton Co. was trsns formed Into a national hank under the name of the fnlted States National bank. The first officer were: President. C. W. Hamilton: vice president, 8. 8. Caldwell; assistant cashier, M. T. Parlow. Milton T. Harlow, now president, en tered ' the hank as a messenger over fifty years ago. No one I better known throughout the city and state, where his name stands for conservatism and caution business method. Ourdon W. Wattles, vice president. Is widely known as an active, angreeslve, urreeaful, busi ness man and banker. William E. Rhoade. cashier, also entered the bank .as a messenger, and ha worked hi way up Into official position by serving a long apprenticeship, having been with the bank for more than thirty years. Oeorge K. Haveratlck, assistant cashier, is another officer who entered the hank es a hoy and has keen iden tlfied with this institution more then twenty-five years. Ro-ert P. Morsman. Joseph C. McClure. Qwyer H. Vatee and Charles P. Drtnckman are assistant cashtera. Pirate to Colomhne. It la believed that several player now on the Pirate roster will be sent to the Columbus cluh. In the Amerloan asso ciation, before March 1. Wo Guarantoo RESULTS That Bring RETURN ORDERS Try Us On Your Next Consignment. We Live Up To Our Name. I i OLDEST BANK IN NEBRASKA ESTABLISHED 1856 T jell rated States Mai Msma Sixteenth and Farnarri Streets HJMITTEID STATES DEPOSITORY Rank f Omaha Capital Stock, $1,000,000.00 Surplus and Profits, $815,000.00 Total Resources, $16,500,000.00 ''''it - v , . ' J " ' " ''-':' i ' -.' ' . ... - . . - . .., . . .M u-. r S ' - - - ........ .... -., Jijji..f' -'- t . : ;. '-""' iiiiiii.iin i i ..ii. i-m m m.i I a lui.iminiiiiii iiri Ml i Accounts of Individuals, Firms, Corporations and Banks Invited GURDON W. WATTLES, Chairman of the Board. GEORGE E. HAVERSTICK, Vice-President. GWYER H. YATES, Assistant Cashier. MILTON T. BARLOW, President. WILLIAM E. RHOADES, Vice-President. ROBERT P. MORSMAN, Cashier. JOSEPH C. McCLURE, Assistant Cashier. CHARLES F. BRINKMAN, Assistant Manager Credit Department. MILTON T. BARLOW, President. ARTHUR D. BRANDEIS, President J. L. Brandeis & Sons. EDWARD L. BURKE, President Kent and Burke Oo. SAMUEL S. CALDWELL of Coal Hill Coal Co. EDWIN A. DUFF, President Duff Grain Oo. THOMAS A. FRY, President Drexel Shoe Oo. GEORGE E. HAVERSTICK, Vice-President. GEORGE H. KELLY, President Adams and Kelly Co. CHARLES W. LYMAN. EDGAR M. MORSMAN. ABRAHAM L. REED, President United States Trust Co. WILLIAM E. RHOADES, Vice-President. BENJAMIN F. SMITH, of Smith Bros., New York and Omaha. WILLIAM A. SMITH, Vice-President Omaha & 0. B. St. Ry. GURDON W. WATTLES, Chairman of the Board. President Omaha & 0. B. St. Ry. Co. OASPER E. YOST, President Nebraska Telephone Co. Deposits In the Savings Department draw Interest at the rate of 3 compounded semi-annually. ONE DOLLAR WILL OPEN AN ACCOUNT. Safety Deposit Boxes In the Safe Deposit Department for the storage of securities and valuable papers. Three Dollars a Year and Upwards. . I I 1 : , . i