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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Oct. 1, 1905)
Octotxr 1. 1906. THE OMAHA ILLUSTRATED BEE. A Barometer of Business Prosperity OMAHA A FINANCIAL CENTER FIRST MTIOML The Omaha National Bank Gut City th Hone; v pHl of a Tut Commonweal' h. LOCAL BANKERS ON THE SITUATION t Conditions All of Strength with Moat Eaco.r.iUf Indications of Bn dnrlns; Growth and Cob tinned Prosperity1. 9 i UNITED STATES DEPOSITORY R Sj ! ! ! .H s; ;vv u Pi?' ? t JO OMAHA, NEBRASKA THE FIRST NATIONAL BANK ORGANIZED IN NEBRASKA RESOURCES Loans and Discounts. ..' $4,809,164.20 Banking House..;............; 12?,000.00 U. S. Bonds to Secure Circulation 200,000.00 Due from Banks and U.S. Treasurer, $4,43,300.79 U. S Bonds : 201,000.00 Other Bonds... . 551,337.78 Call Loans 241,262.75 Cash 1,550,559.68 $6,979,461.00 $12,113,625.20 LIABILITIES 0 Capital $500,000.00 Surplus 100,000.00 Undivided Profits 248,779.62 Circulation .... 200,000.00 Deposits-Banks $5,417,630.45 . Individuals... 5,647,215.13 I IfUDOO.OO $12,113,625.20 OFFICERS- AND DIRECTORS Herman Kounlze, President W. A. Pa.xton J. A. Creighton, Vice President J. N. WoolwortH . M. Andreesen W. S. Poppleton F. II. Davis, Cashier C T. Kouivtze, Ass't Cashier L. L. Kountze, Ass t Cashier The First Bank in Nebraska to Exceed v Eleven Million. Dollars in Deposits We Furnish Kounfxe Bros., New York, Foreign Letters of Credit. Buy and Sell Foreign Exchange a.nd Issue Tra.?elers Checks BANK. MERCANTILE, MANUFACTUHER.S' AND FARMERS' ACCOUNTS SOLICITED SAFETY DEPOSIT VAULTS IN BASEMENT As seen by bankers, the financial situa tion of Omaha and Nebraska Is something of which every Nebraakan ought to be proud. All express themselves as pleased with the present situation, which they say Is the most flattering In the history of the 1 state. They also believe that prosperity will continue and that the brilliant record for the current year of the Omaha banking houses will be eclipsed by that of UM. Financial Capital. Luther Drake, president of the Mer chants National bank, says: Omaha is the financial capital of the vast agricultural commonwealth of Ne braska, and the states west of us, whose wealth seeks outlet and finds Its natural distributing agencies In Omaha. Stronger and more conservative banking Institutions cannot be found In any city In the coun try. A very healthy tone now underlies the financial condition of the city. While the banking laws provide that the reserve of national banks shall be 25 per cent, the banks of Omaha show, and have shown for some time, reserves of more than W per cent. The statements ' of the various na tional banks Issued August 26 at the call of the comptroller of the currency show the largest Increase of deposits ever known In the history of the city between two calls. The magnitude of the Increase Is due to the large deposits In the country banks of the state and the territory tributary to Omaha and to the growth of our city, and It reflects the general prosperity of the farmers, tradesmen and working peo ple. The outlook Is more than satisfactory. I.rge crops have been raised this year and the farmers will have Increased wealth to put Into the banks this fall. F. H. Davis, cashier of the First National bank, says: The wonderful growth of the business of the hanks of Omaha as shown by the recent statements. Is a fair Index of the prosperity of Omaha and the territory west and northwest of us. The abundant crops of this year, now safely harvested, promise still further growth during the next twelve months. A large number of new bunks have been organized this year In territory tributary to the city and many will main tain accounts here. Omaha Is advan tageously located as a banking city. In my opinion the next ten years will bring us prominently Into view as a financial center. The banks here carry a portion of the re serve funds of a large per centage of strong banks west of us as far as the Pacific, on three different lines of transcontinental railways. In addition Omaha's banks are favored with a large amount of business from Iowa, northeastern Kansas and South Dakota. During the summer the prominent banks of Omaha' have shown a larger line of deposits than banks of the same standing In Minneapolis and St. Paul. Our facilities for loaning money are not as great as those of the Twin cities, and the Omaha banker la obliged to seek other market for desirable paper. Dae to Asrrlenltaral Prosperity. Ourdon W. Wattles, vice president of the United States National bank, says: For Ave or six years an enormous sur plus of farm products has been raised by the farmers of the state, and during all this time the price has been better than for any like period in the history of the state. The result is that a large amount of money has been brought Into the state. It Is not borrowed money, but Is owned here; it is the price of farm products sold. More than .'08,000,000 came Into the pockets of Nebraska farmers last year for grain and produce shipped out of the state. This wealth has been put Into the local banks, and by them Into the city banks, until all the financial Institutions now have more money than they ever had at their disposal before. About October 1 the banks or umana usually lace a demand from the country banks for money to take care of their surplus loans. This year the banks of i Omaha are loaning money to New York and otner eastern nnanciai centers at tne cur rent rates there, and at the same time the rates of interest on first-class loans are as low In Omaha as in any other city in the United States. This year, for the first time, Nebraska crops will be handled by Nebraska money, and New York does not have to help us care for our banking busi ness. C. F. McGrew, vice president of yie Omaha National bank, in reviewing the financial situation said: "In 1900, very prosperous conditions gen erally prevailing, the total deposits of the clearing house banks In Omaha were $24, 000,000, holding an available cash reserve of Ill.GOO.OOO; while the corresponding state ment of 19u6 showed total deposits of 137, 000,000, and available cash reserve of over $17,000,000.. The establishment of a grain market at Omaha has been the most Im portant event In its history store the loca tion of the terminus of the Union Pacific railroad. With four large storage and dis tributing elevators now In operation, and several more In the course of construction, its stability a one of the leading grain markets of the country is beyond question. We question if there is a bank today in the state of Nebraska indebted to a bank in New York City to the extent of a dollar certainly none of the larger ones are; in fact, hundreds of thousands of dollars were loaned during the summer months by Ne braska banks to the manufacturers and Jobbers of New York and New England, much of which paper remains unmatured, so that the money that now comes west from New York belongs to the people of the west and they are only calling for their own. Stock Business Helps. Regarding the outlook for an increase in business T, B. McPherson, cashier of the Union Stock Yards National bank, said: With enormous crops, not only in Ne braska, but all over' this section of the country, there cannot help but be an Increase in business. Receipts of live stock at the South Omaha stock yards are large just at present and to a great extent the business of the banks at tae yards de pends on the receipts. From Indications there is still a large quantity of stock to be marketed yet this year. I look for a constant increase in business for some months to come and there Is every indica tion of continued prosperity. IL C. Bostwick, vice president and cash ier of the South Omaha National bank, has this to say of presenX conditions: Of course our business Is regulated to a great extent by the live stock market. Re ceipts at South Omaha are quite heavy, in fact larger than at this time last year. Cattle are coming to market in good condi tion, and while the prices paid are not so very hich just at present, fitir prices are maintained and the outlook is exceedingly bright. As for the money demand, it la not equal to the ordinary. Borrowers are not as plentiful as they have been in the past. To a great extent this Is caused by the generally prosperous condition of the peo ple in this section of the country. Frank J. Moriarty, cashier of the Pack era' National bank, said: The usual fall demand for money Is starting in. but It Is not as large as usual, and the demand Is later than usual In starting. This condition Is brought about by . the general prosperity in the west. Crops all over Nebraska are heavy, but less money Is being borrowed than usual to move the crops. The year will be a good one from a business standpoint and I look for a continuance of the present prosperous conditions. F. N. Clarke, manager of J. L. Brandtls A Son's bank, nays: The welfare of our banking depends on the crops of Nebraska and surrounding country. We have had good crops in the last few years and good crops this year. As a result the bank deposits are large. That is all there is to it. I remember the story of the Nebraska farmer who said: "I raise big crops of coin: I feed the corn and raise hogs; I sell the hogs and buy more land; then I raise more corn to feed more hoss to get mure money to buv mora land." As long as the crops come the money for that land and those hogs Is going through the bank and ft"-""'-! oouidUooe la Omaha will be good. OF OMAHA UNITED STATES DEPOSITORY Capital Surplus $1,000,000.00 200,000.00 COMPTROLLER'S CALL CONDENSED STATEMENT OP THE CONDITION AT THE CLOSE OF BUSINESS AUG. 25, 1905. RESOURCES. . LIABILITIES. Loans and Discounts $6,144,640.52 Capital $ 1,000,000.00 Overdrafts U. S. Bonds, for Circulation Stocks and Bonds.. Banking House and Safety De posit Vaults U. S. Bonds for De posits $ 424,000.00 Due from Approved Reserve Agents.. 1,790,489.95 Due from other B'ks 1,050,981.24 Cash on hand 1,512,372.32 Due from U.S.Treas. 30,000.00 4,807,843.51 $12,307,098.84 Surplus Fund 200,000.00 5,803.57 636,000.00 512,811.24 Undivided Profits 24,133.12 Circulation 600,000.00 200,000.00 Deposit8 10,482,965.72 $12,307,098.84 Safety Deposit Vaults in Basement of Omaha National Bank Building safe, strong, convenient; $5.00 per year and upwards. OFFICERS J. H. MILLARD, President. TOI. "WALLACE, Vice-President. CIIAS. E. "WAITE, Cashier. C. F. McGREW. Vice-President. FRANK BOYD, Asst. Caahier. J. H. MILLARD. GUY C. BARTON. C. II. BROWN, DIRECTORS N. W. WELLS, C. F. McGREW, A. J. SIMPSON, WM. WALLACE, L W. CARPENTER, W. M. BURGESS. GUY. C. BARTON, President E. A. CUDAUY, Vice-President TRUMAN BUCK, Vice-President . II. C. BOSTWICK, V-Pres and Cashier. II. C. MILLER, Assistant Cashier. CAPITAL, $250,000 PROFITS, $75,000 SURPLUS, $250,000 DEPOSITS, $3,225,000 The South Omaha National Bank SOUTH OMAHA, NBB. Accounts of banks transacting business with, the stock yards received on the most favorable terms. Interest allowed on balances. Collections receive prompt attention and funds disposed of as requested without loss" of time. DIRECTORS; GUY C. BARTON, Pres. Omaha & Grant Smelting Works. E. M. MOBSMAN, Jr. J. D. STANDISII, Hammond Standish Co. H. C. BOSTWICK, Vice-President. E. A. CUDAIIY, V. P. & Gen'l Mgr. Cudahy Pckg. Co. J. P. LYMAN, President National Packing Co. TRUMAN BUCK. r The Union Stock Yards National Bank SOUTH OMJLHA, NBB. Capital - - - $300,000 Surplus and Profits 100,000 Located at the stock yards. Has exceptional facilities for handling promptly and efficiently the banking business arising out of the purchase or sale of Live Stock at the South Omaha market. . , Accounts Are Invited JOHN A. CREIGIITON, President. F. IL DAVIS, Vice-President. THOS. B. McPnERSON, Cashier. JOHN C. FRENCH, Ass't Cashier. J