'he Omaha Illustrated Bee
J.
NUMBER 319.
Entered Second Class At Omaha Tostoffice Published Weekly bj The Bee Publishing Co. Subscription, 12.50 Tor Year.
JULY 2. 1003.
The United States National Bank of 0
maha
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United States Depository.
M. T. BARLOW,
President.
W. E. RHOADES, .
O. W. WATTLES,
Assistant Cashier.
OFFICERS
- Vice-President. V. B. CALDWELL,
-L. M. TALMAGE, Assistant Cashier.
DIRECTORS
' Vice-President.
G. E. UAVEKSTICK,
A. MILLARD,
Assistant Cashier.
Cashier. N
M. T. BARLOW,
President United States National Bank.
GUY C. BARTON,
President Omaha and Grant Smelting Company.
President Omaha and Council Bluffs Street Railway Company.
S. S. CALDWELL,
of Coal Hill Coal Company, Omaha.
V. B. CALDWELL,
Vlc-Preaidant UnlUd Statu National Bub '
N. A. DUFF,
President Duff Grain Company, Nebraska City.
C. W. LYMAN,
Vice-President Nebraska Telephone Company.
EUCLID MARTIN,
President Parlln, Orendoff & Martin Company.
A. DULLARD,
CmMm United State National Bank....
E. M. MORSMAN,
Vice-President Carter White Lead Company.
W. W. MORSMAN,
Attorney.
A. L. REED,
President Byron Reed Company, Omaha.
B. F. SMITH,
of Smith Brothers, New York and Omaha.
W. A. SMITn,
Treasurer apd General Manager Omaha and Council Bluffs
Street Railway Company.
G. W. WATTLES,
Vlee-I'resldcnt United States National Bank.
Vice-President Omaha and Council Bluffs Street Railway
Company.
C. B. YOST,
President Nebraska Telephone Company. .
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NEW HOME OF THE ; UNITED STATES NATIONAL BANK.
Announcement
Omaha, Nebraska, July 22, 190?.
We beg to announce that the arrangements for the consolida
tion of the United States National Bank of Omaha, the Commer
cial National Bank of Omaha and the Union National Bank of
.Omaha have been completed. Beginning Monday, July 24, 190?,
the business will be conducted at Sixteenth and Farnam streets in
the building formerly occupied by the Commercial National Bank,
under the title of
THE UNITED STATES NATIONAL BANK OF OMAHA
Capital - -4 - $600,000.00
Surplus - - - - 200,000.00
Attention is called to the personnel of the directorate .of the
bank and to its officers. The new bank wHl be in a much stronger
position to handle the banking business generally than was any one
of the constituent banks. The depositors, clients and correspond
ents of the United States National Bank,' the Commercial National
Bank and the Union National Bank are especially requested to note
.this-and also that almost all the present officers and staff of each
bank will remain with the consolidated institution and continue to
give as heretofore their personal attention to the business.
' We invitenew accounts -of banks, corporations, firms and in
dividuals, to whom we offer all the facilities of a large bank with,
numerous bank correspondents throughout the United States and
Foreign Countries.
We particularly desire and will give personal attention ta ths smaller accounts of individual
We shall be pleased to have correspondence or personal conference
with those desiring to transact business with us. '
Respectfully, UNITED STATES NATIONAL BANK.
By M. T. BARLOW, President. .
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Omaha's Big
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New Consolidated Bank, arid the Big Men Behind It
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MAHA la making banking history these days. - With the open-
lug of the United States National bank In Its new location,
formerly the home of the Commercial National bank, with the
consolidated business of the United States National, the Com
mercial National and the Union National, an epoch will be marked
In the progress of local financial Institutions. While the public has
been fairly informed for a month past of the big banking merger that
had been projected and brought to a consummation, all the time Inter
Tenlng was necessary to go through the legal forms required for actual
consolidation. "
A' glance at the building to be occupied by the new United States
National any day since the public announcement of the merger would
show that no time was being lost,sither, in executing the various
chauges necessary to make room for the enlarged business that la to
bo transacted there. The location of the bank at the corner of Six
teenth and Farnam streets, which Is the rery heart of the business
section, occupying one of the choicestorners in the city, makes it dls
lnctly conspicuous as well as convenient of access. Diagonally across
the street Is located what was recently reported to be the most highly
valued piece of real estate In Omaha, and with the. present -rapid build
ing transformation of this section of the city, of which Sixteenth and
Farnam streeta Is the center, the United States National bank corner
bids fair to b A point from which people will reckon distances when
giving directions for finding other parts of town.
Inside the building has been a veritable bee hive of Industry for
the last month. The remodeling of the bulldlug has been in absolute
charge of Assistant Cashier Rhoades, who, In getting everything done
In so short a time, has accomplished what was considered almost Im
possible. ' Yesterday Phil J. Rum, the contractor who has had 'the
work in hand, was putting on the finishing touches, so that the trans
fer of the books and records of the United States and Union National
banks to the new location could be expedited and enable depositors
and clients of the three consolidated banks to call in the morning at
the new bank and transact business not only without inconvenience,
but with a facility surpassing that obtained in any one of the banks
before consolidation. As a result, the Interior of the building has been
thoroughly overhauled and remodeled according to plans by Architect
Kimball, who originally designed it, making It look like a new place.
The old lobby, that was 20x?2 feet, has been enlarged to 42x25
feet with a south extension 18x15 feet The added space was neces
sary for patrons to transact business in the various departments with
ease aud expedition. This commodious lobby Is surrounded on three
sides with rages for paying and receiving tellers, discount, draft, col
lection and statement clerks, and debit of the leading officers. These
ii'uks have bej n so arranged that the officials of the Institution will be
In dose touch with one another and with the public. The public tele-
phone has been placed In the south wing on the first floor, and a large
meeting room for the directors and a private cousulUit'on room for the
officers have been located in the southeast corner of the main floor.
One of the important features of the b'g bank Is the battery of
safes and vaults that has Just been newly Installed. The safes, three
In number, represent a Gibraltar of strength in the bunking world
and. together with the conservatism and ability of the men behind the
combination to defy breaking. The eight-ton Corliss
the Commercial bank has been retained and sop-
rge manganese safea of most improved patterns.
A set of fireproof vaults. In three galleries, provide for recordt and papers.
The accounting and mailing departments of the bank have been re
moved to the secopd floor, where partitions that formerly separated
private offices have been torn out to make one large counting room.
An electric dummy runs from the banking floor to this room for the
purpose'of carrying statements to and from the various clerks for final
disposition. The private telephone exchange has been Installed here,
also, and locker rooms aud other conveniences for the employes have
been provided, which may be reached from either front or rear.
The ceilings, and walls of the entire bank have been redecorated
In delicate shades of ivory and green, set off with gold trimmings, and
In every detail the purely physical part of tba bank has been brought
up to the requirements of an up-to-date banking Institution. All the
new furniture which has been ordered has not yet come, but when
placed promises to add to the general harmony of the banking room.
The great central idea in which the consolidation scheme has been
built by its promoters was to organize one big bank out of three al
ready successful banks, to Incorporate the very best of the three Indi
vidual banks Into the body of the integral bank, and then to improve
and strengthen the consolidated bank along lines suggested by years
of experience as promising the banking public the best protection and
services to be obtained anywhere.
While the new United States National will have one of the best
locations and one of the finest bank buildings In the west, its pro
moters realize that even more Important than the advantages of a con
venient and hospitable home la tho personnel aud business stability
of those conducting it and backing it
In the matter of a good ancestry, on which' depends largely the
confidence it Inspires In a community, the United States National is
fortunate In being one of the oldest established banking houses lu Ne
braska, In fact, the oldest by succession. In 1850 Ezra Millard founded
at Omaha the banking house of Barrows, Millard & Co., a firm in
which Mr. Barrows, Ezra Millard and J. II. Millard were Joint part
ners. In 1S0O S. S. Caldwell entered into the partnership and J. II.
Millard went to Montana, while the firm name was changed to Millard,
Caldwell & Co. Out of this combination the Omaha National bank
active banker and always connected with the same institution, whoso
location has not changed In the forty' years until the present move en
gineered by Victor B. Caldwell .was brought to a. successful termina
tion. Mr. Barlow entered the bank as messenger and his successful
administration in the past is well known throughout the city and state,
where his name stands for conservatism and cautious business meth
ods. He is recognized as having to a remarkable degree built up the
business of the United States National bank and influenced Its policy.
The Union National bank gives to the new United States National
bank for an active officer Gurdon W. Wattles, who becomes vice presi
dent of the new institution. Mr. Wattles Is so widely known as an
active, aggressive, successful business man that his active Interest iu
the new bank alone is assurance of its success, and that in the future
the bank will be an aggressive factor In the Greater Omaha that Is
now icrystallzlng. Mr. Wattles' friends like to call him "the man who
does things," and he enters Into his new relations and duties with the
full conviction that Omaha is on the verge of bigger and better things.
It Is said that no man more fully understands the capacity of Nebraska
for increased wealth and for its improvement in general than Mr.
Wattles. Ills unvarying success in every undertaking In which he has
engaged and the marked Impress he has made -upon this community
as a broad-minded, public-spirited business man led his associates to
congratulate themselves upon obtaining his active services.
Victor B. Caldwell, who also becomes vice president, Is a Yale
man of the class of 1887 and has been Identified with the bank since
his graduation from college. . His financial training has been all under
Mr. Barlow, whose assistant he was for a number of years. In the
last few years Mr. Caldwell has become known as an exceeding able
and ambitious banker and Is to be credited almost solely for the pres
ent merger. If ever a deal was stamped all over with the individuality
of one man It has been this bank merger, and the successful harmon
izing of Its many conflicting Interests. Nothing more completely ex
plains this than the announcement given to the reporters by Mr.
was organized in 18U& Ezra Millard was an advocate of the then new' V'"'" n,ldn'ght' at hU KsiAa 00 fornaiu 8tret'
nuu, logeiuer wun me
fH- bank, make a couiblu
safe il.at was used in t
plemented with two lat
national banking system, while Mr. Caldwell believed in the old-established
private banking business. When Ezra Millard organized the
Omaha National bank, Mr. Caldwell Joined him In that enterprise and
both of them at the time regarded it much like establishing a branch
bank and believed both their banks would benefit correspondingly. v
When Mr. Millard left the banking house of M'.'.iard, Caldwell &
Co. a new partnership was formed by admitting C. W. Hamilton aud
M. T. Barlow under the Arm name of Caldwell, Hamilton & Co. All
over the country the private banking firms were gradually going into
the national or state system andtiie commercial business In all finan
cial centers was being concentrated more and more In the national
banks, so that In the summer of 1883 the firm of Caldwell, Hamilton
& Co. was transformed into a national bank under the name of the
United tstates National bank. Mr. Caldwell gave up active work and
died the following year. The first officers were: President, C. W.
Hamilton; vice president, 8. 8. CaldwelL and cashier, M. T. Barlow.
Victor B. Caldwell, son of one of the founders, entered the bank as
messenger lulsS7 and continued to fill various positions as messenger,
bookkeeper, correspondent, clerk, teller, etc, until 18tG, when Charles
W. Hamilton died and Mr. Barlow was elected president In bis place
and Mr. Caldwell made cashier, succeeding Mr. Barlow.
Milton T. Barlow continues to be the president of th new United
States National aa of 'the old. He hat been for over forty years-an
the meeting at which the merger of the three banks was formally con
cluded, In which he said:
"This deal of consolidating these banks was worked out by Mr.
Caldwell, who was obliged to overcome a large number of almost in
surmountable obstacles to accomplish the results that have been
reached. It has been pending for the last three weeks, but was only
closed here at my house this evening, when representatives of the
three banks were present."
In this connection it is interesting to recite again the statement
made at the same time by Mr. Caldwell, which explains the method
of the examination of the assets of the combined banks preliminary
to a merger. Victor Caldwell (aid: "TliU consolidation takes what
is best of the three institutions. I refer particularly to the character
of the men who become' directors and active officers of the new bank.
"Each bank has been rigidly examined by committees appointed
from each one of them for that purpose. Into the new organization
will go the best assets of the three banks, which have been selected
by the strongest men in eatb institution. The new bank is organized
In such a manner that the officers are well acquainted with the needs
of customers, who will see in the new bank officers and directors of the
three banks, thst their Interests will be protected as heretofore.
"With the well known conservative views of Mr. Barlow and
the strong, aggressive character of Mr. Wattles, who will take an
active and energetic part in the new institution, I believe that its
success is absolutely insured.
Alfred Millard, cashier of the Commercial National bank, takes -the
position of cashier of the new bank. Mr. Millard is a graduate
of Cornell university, a son of Ezra Millard, already referred to as
one of the founders of the original banking house out of which this
one has grown, and has been identified with the Commercial National
bank since its organization. A large part of itsbusiness is the direct
result of his personality and aggressiveness, lie is so absolutely in
personal touch with all the interests of their old customers that they
will be assured against any change in their dealings with the larger
bank. With his twenty years' experience Mr. Millard brings into the
new organization a personality that will be of great benefit to It
The assistant cashier of the United States National bank has been
for several years W. E. Bhoades, who entered the bank as messenger
and 8ucece8.sfully worked his way up Into official position by serving
a long apprenticeship and filling at various times every position in the
bank. He la well known In the city as well as having an extensive
banking acquaintance throughout the state. He has been an active
officer of the bank, fully in touch with the bank's policy, speaking
authoritatively for the bank on questions in which it was Interested,
and has contributed to a marked degree' toward Ks success. In the
new bank be will have the same"1 position, but with additional respon
sibilities that will make his influence more generally felt.
L. M. Talmage, at present an assistant cashier, will also hold his
same position and continue to have a general oversight over the
credit department 6f the bank. He, too, began in the United States
National as a boy and all bis banking business has been learned in
that bank. Mr. Talmage is recognized as a man of strong character
and an up-to-date credit man. He has a wide circle of acquaintances
and is counted one of the strtmg, capable young men of Omaha. His
personality is already a marked feature of the old bank and the greater
opportunities now offered him strengthen bis position in his Held.
The only change made In the official force of the Old United
States people Is the promotion of their chief clerk, George E. Haver
stick, to an assistant cashiershlp. Mr. Haverstlck Is another young
man who entered the bauk as a boy and he has never worked outside
of this bunk. He will have eutire control of the working force to be
assigned to the second story of the new bank building, where bis
office will be located. Mr. Haverstlck Is an expert accountant and has
wou his promotion through his ability and absolute thorough knowledge
of all the Intricacies of general bank work. He will have special
charge of the "transit department," as It is called In the larger cities
that Is'the collection of the miscellaneous country drafts and. clucks
drawn on all parts of the country, and will give vigorous attention
to the collection of country checks for the customers of the bank.
In addition to the principal officers the directory coutaius names
calculated to inspire complete confidence among the business
circles of this city and state. It Includes well known representatives
of the various commercial Interests. Each of the directors ranks high
in his own line of business aud stands for some particular class of
business or professional activity, including real estate aud Investments
of large corporate holdings, street railways, telephones and industrial
enterprises. With such an array of peronal strength and ample eap-
Ital resources together with a banking house equipment not excelled,
the new consolidated bank certainly begins business under most prom
ising auspice.