D
.mpprtant
JOSTWrT H.
President Omaha
HAT la tha difference between
1 1 N a clearing house loan certificate
I and a bill of parUcularaT
i Linn quonuuo unci iwou
asked a week ago of Mr. Aver
age Citizen by his small aon
he would have hummed and hawed a min
ute or two and then confessed ha didn't
know. In order to save himself from com
plete and lusting ignominy In the eyes of tits
progeny he might mumble something- about
a clearing; house loan certificate being an
Instrument used by bankers and a bill of
particulars being something or other which
la filed In court, but further than this he
woulf hardly dare to go.
Aft, reading tbe financial stories In the
newspapers for the last Sevan . days Mr.
Average Citizen has probably, gained suf
ficient Information to reply with some con
fidence that a clearing house loant certifi
cate la a certificate Issued Nby a clearing
house to avoid the use of cold cash In cer
tain transactions, but If he tried to be any
more definite than this he would probably
become entangled In the maize of bis hazy
Ideas.
And yet there la nothing complicated
lther about clearing houses or clearing
house certificates. It la only rarely that
tha ordinary citizen has either of .them
brought to his attention. In normal times
and average conditions they concern only
those who are directly Interested In banks
and banking. Like most other details of
banks and tha banking business, the man
who la a mere depositor or borrower cornea
Into contact with them so seldom he does
not take the trouble to give them very
minute attention. When he doea b .finds
the explanations so surrounded with Incom
prehensible terms be makes little headway.
For the benefit of those who are en
tangled at the outset by the term clearing
house. It may be said that this (s an Insti
tution conducted by the different banks of
a city for the purpose of enabling them to
"clear" their transactions with each other
dally without; having to deal Individually
with every bank In tbe city. In the ordl-
nary course of business every other bank
In a city will take In some paper of prob
ably every other bank In the city. ' Tha
clearing house enables them to adjust their
balances with each other easily and apeed-
Tha definition given by the supreme court '
of Pennsylvania Is usually quoted In an
swer to the question, "What la a clearing
bouse?" because It Is lucid and avinpre
benalve. Tha definition la as follows:
"It la an Ingenious device to simplify and
facilitate the work of banks In reaching an
adjustment and payment of dally balancea
due to and from each other at one time and
In ona place on each day. In practical
operation It la a place where all the re'pre
entatlvea of the banks In a given city
meet, and under the supervision of a com
petent committee or officer selected by the
associated banks, settle their accounts with
each other and make or receive payment of
balances, and ao "clear" the transitions
of tha day for which the settlement t
made."
Thla was the original purpose of clearing
housea, but In recent years they have been
utilised, as In tha present contingency, to
secure united action f the banks of a
city. This united action may relate to any
subject of general Interest to the. banks
and upon which they or a controlling ma
jority agree- In tha present contingency,
mm nma been done In other cities a number
f times, tha Clearing House association
was utilised aa a means Jot securing uni
form acUon whan was decided to be
for the best Interests of everybody con
cerned, to suspend temporarily the payment
of rash to depoaltors.
Thla Is what might be called a special
function to be used only on special or un
usual occasions. Other special functions
of clearing houses which have been utilized
at various times In the United' 8 tales are
the extending of loans to the government;
mutual assistance to members; Dxtng uni
form rates of Interest on deposits and the
Issuing of clearing house loan certificates.
. The Omaha Clearing House association
Includes the national banks of Omaha and
South Omaha, the mutual business Inter
ests of the two cities being so closely
bound that a single clearing house Is con
sidered better than two. Tbe clearing
i bousa la located la a room back of the
' Nebraska National bank, at m South
Twelfth street. The officers of the as
aoclatlon ax as follows: Henry W. Tales,
president; V. B. Caldwell, vice prealdent;
W. B. Hughes, secretary and manager.
Tha loan committee, which la an Important
factor In tha workings of the Institution
just at preaent. consist of the following
, representative of the various bank of
Omaha and South Omaha: First National
fcauk. T, H. Davis, chairman; Omaha Na
tional bank. J. H. Millard; Nebraska Na
tional bank. H. W. Tatea; Merchants Na
tional bank, Luther Irake; I'nlted States
KavUtfftal bank. Victor L Caldwell; Union
in,,,
. -
V' ;- - - - - '.. , .
j . . ' ' y " : " ,"
Function
MTT.TAT!r.
National Bank.
Stock Tard National bank, E. F. Folda;
South Omaha National bank, J. C. French:
Packers' National 'bank, J. F. Coad. Jr.
It Is this committee that has the direction
of the Issuance of the clearing house loan
certificates.
At the conclusion of each day's business
various banks in the Clearing House asso
ciation send a representative with a state
ment of Its credits and debits In Its ac
counts with the other banks, to the clear
ing house. Under the supervision of the
manager of the clearing house each bank
strikes a balance with every other bank.
The bank with balance against them will
then pay to the banks holding the balancea
the amount pf tho balance. Thla payment
Is ordinarily made In money or In a form
of paper called clearing house certiflcatea.
These differ from clearing house loan cer
tificate in that they represent actual
money and are Issued only upon the deposit
of gold or other legal tender. They are
used, then, merely as a matter of con
venience and to make It unnecessary to
handle large quantities of money. The
clearing house loan certificate on the other
hand are Issued upon the deposit of se
curities by the bank desiring them. They
are not used as currency and do not cir
culate except between the banks and In
payment of the clearing house balances.
They are used only In times of financial
stringency when money Is scarce and It la
desirable to use something else than actual
Progressive Events in the
Astosaatle Telephones In Chicago,
IlICAQO ha struggled with the
I gT 1 telephone problem for several
I ft I year and has not reached a
uai&ciury solution, ine main
Issue Is cheaper and better serv
ice. The Bell Interest control
the field, but the franchise baa little more
than two year of life and the company I
making strenuous efforts to secure a re
newal. A pending ordinance has that pur
pose In view. Some reduction In price of
'phone Is offered and compensation for the
city provided, but the terms offered by the
company are considered trifling and out of
proportion to the value of the municipal
grant. So great Is the opposition that tha
ordinance haa been held up for two month.
Now come the Illinois Tunnel company,
with an offer to Install an automatlo tele-'
jhone system In its underground tube,
which 'ramify the city, connect with aur
face exchange and provide telephone for
20,000 subscriber by January, 190. Th
proposition I based on compliance with the
terms which Hhe city demanda. It Is now
before the council committee.
The new. general manager of th Tunnel
company, W. J, C Kenyon, formerly of
Omaha, aays:
"Fifty-six miles of eondults have been
constructed out of a total of sixty. The'
last four mile still to be constructed con
sist of connection with railroad and busi
ness houses. Connection has been estab
lished with fifteen of the largest business
houses and w are preparing to connect
with thirty-five othere. The remaining sec
tion of the tunnel system are being exca
vated at the rat of 300 feet a day.
"Telephone wires have been laid all
through the business section of the city.
They have not been connected with all the
business houses, for w are waiting for
connection with the buildings through our
conduits. When we complete the tunnel,
by the first of next year, we will have the
right to string our telephone wire through
out th ctty on pole.
"We will not follow the shut-out policy of
th Chicago Telephone company. We will
connect with any Independent company that
desire entrance Id to Chicago, or we will
connect with the Bell Telephoae company.
We will serve the publlo In any way the
public wishes, and It la a well known fact
that there are more Independent telephones
than Bell telephone clamoring for connec
tion with Chicago."
Klectrl Sleep.
Important experiment In the use of elec
tricity aa an anaesthetic have been made
recently before the Society of Chemical
Surgery In the laboratory of experimental
surgery In connection with the College of
Physicians and Burgeons at Columbia uni
versity. They were under the direct super
vision of Dr. L. Pierce Clark, nerve special
ist; Dr. George E. Brewer, professor of
surgery at Columbia; Dr. James E. King,
who conducted the actual work of the ex
periments; Prof. Tufts of the deiartment
of physic at Columbia, and Dr. B. W.
Scripture, who baa atudled for Ave year
in Munich aa on of the beneficiaries of
the Carnegie fund.
The 'work has been inspired by Prof.
of the Clearing: House in Modern Business "World
Xf
HKNKt W. TATIta
President IseUrakk National
MILTON T. BARLOW,
President United Stales National Bank.
money to pay the daily balances with. By
their use of money whic. otherwise would
go to pay, the dally balances may . be
utilized to swell the volume of cash In clr-.
culatron. Jt may be loaned or used In
making the volume of cash In circulation.'
r I ' rl A V Mnraiaaint In aalU lnna nn I
They represent In reality loans made by
the associated banks to Individual mem
bers of the Clearing House association to
relieve temporarily any stringency In cash
that may harrass a bank. The certificates
bear Interest to Insure their retirement
when need for them Is passed. The certifl
catea Issued by the Omaha association bear
Stephana Leduo of the College of Medicine,
Nantes, France, who has gone far along
the path of experimentation, having twice
applied the electric current to himself.
The current which produces the "electric
Bleep," as the French call It, is different
from any previously known. There is a
special apparatus for Its application, the
principal feature of which Is an Interrupter
by means of which a maximum of more
than 8,000 Interruptions a 'minute may be
given. The current Is of low tension and
constant direction that Is to say, a current
which act for a time, ceases, recommences
and so on by regular, Intervals.
Aa Boon as the Interruptions cease the
return to consciousness Is Immediate, and
this return has no relation whatever In ap
pearance or sensation to the return from
the unconsciousness induced by present
anaesthetics.
Electric sleep comes almost immediately
within a minute or two after the current
Is turned on, while those who have wit
nessed the administration of chloroform,
ether or ethyl cMorida know that It la a
process sometimes taking half an hour or
more, dependent on the resisting power
and general condition of the patient
Experiments for local anaesthesia by
means of thia Interrupting current, which
have formed part of the experiments at
Columbia, were completely successful. It
was shown, that by placing an electrode
over the median nerve in the wrist the
whole of the body fed by that ner.ve was
affected. The return to the "norm" was
Instantaneous, with no condition of im
paired circulation. Dops were used In thej
experiments rather than cats, rabbits or
squirrels, for the reason that the dog's
nervous system closely resembles the hu
man, and Its intelligence Is of help in that
It would show some resentment If It suf
fered and would run away from a further
experimenting. As It Is, some of the dog
used have been on the operating table live
or six times and do not apparently mind
It in tha least.
So far the one weak link in the chain of
successful experimenting has been In the
nratter of respiration, the interrupting cur
rent when applied with too great Intensity
leaving the court action perfectly free, but
paralyzing the breathing, an effect which
haa to be met by producing an artificial
respiration, which la done by the applica
tion of another electric current
All of the physicians at the laboratory
agree that a new era In surgery Is at hand
when the old-time horror of the operating
table wtU. be no more.
Colag the Fhoue Ost Better.
An Ingenious device, the dictograph,
evolved for the purpose of facilitating and
expediting office work, has been exhibited
la Loudon by Its Inventor. This apparatus,
which la simplicity Itself, Is 'Intended to
supercede the ordinary private telephone
Installation with which every great busi
ness house of the day la equipped. With
the dictograph it la possible for the con
trolling beads to be brought Into direct .
communication with any department In th
building fur conversation, or the dictation
of letters, without requiring the members
of the staff to leave their own rooms.
The dicUgrli la a small box, about I)
THE OMAHA SITiVDAY BEE: NOVEMBER- 3, 1B07.
Bank.
Interest at per oent
A a protection to tha other banks no
certificate will be Issued exoept upon the
deposit of securities which are passed on
by the loan committee. The Omaha banks
have adopted the rule that the value of the that led to the first Issue of clearing house
. i,i a. - ....
securities must be 26 per cent in excess of.
the amount of the certificate Issued. In
addition the assets of all. the banks are
pledged to the redemption of these certifi
cates In the proportion of capital stock and
surplus.
The first use of loan certificates waa
made Just before the civil war In the flnan-
Inches in length by inches wide and 4
inches deep, having two recessed orifices
on its outer face, and with a row of
witch-buttons along its base corresponding
to tha number of departments within the
building. One orifice corresponds to the
transmitter and the other to the receiver
of the common type of telephone, the box
being connected through a flexible wire
with the ordinary wiring system,, on the
premise. A notable feature of thla In
vention, however, is that the box may be
placed in any position that 1 most con
venient, or even covered with papers, with
out impairing Us efficiency in tbe slightest
degree. This Is due to the fact (hat the
transmitter and receiver are fitted with
special microphone of great senbitivenesa,
by means of which the sound waves are
collected, focussed, and then Intensely
magnified. By this means the speaker can
converse as easily with tha person at tlio
other end of the wire while walking aboat
the room, or from a distance of tn or
fifteen feet, as when seated at the desk
on which the Instrument has bten placed.
A purely normal tone of voice, such as
would be used In ordinary conversation, la
all that Is required at any time.
Similarly, the sound-waves transmitted
along the wire are projected Into the room
In a clear, vibrant tone, which dispenses
with the necessity of holding a receiver tJ
the ear. Consequently, while the apeakr
I engaged In Issuing Instructions through
th dictograph be cun still pursue other
operations at his desk, and the person to
whom he Is talking need not put aside his
pen. If secrecy in conversation Is desired,
however, the depression of a lever at the
side of the box throws the loud-speaking
attachment out of gear, and a small re
ceiver hung at the side of the box is placed
to the ear In the usual manner. The ad
vantages of the Turner system are obvi ous,
while, moreover, absolute privacy between
the speaker and listener is insured, as the
line cannot be tapped at any Intermediate
point The loud-siwaking attachment, how
ever, is no distinct ' novelty, as many of
the English teleghonfc fire-alarms are so
equipped; but the application of tbe prin
cipla In such a novel direction aa this Is a
decided advance in the scientific time and
labor-aavlng equipment of the modern
business house or office suite. The mere
fact that It does away with the necessity
of calling together the entire staff for
general Instructions, or even of withdraw
ing a single department head from hi
actual duties, shows how well it is fitted
to both lighten and simplify the work of
the day.
.eatheals. hy Electricity.
Referring to a cabled dispatch concern
ing the discovery by Prof. Leduc of Franc
of a method of causing sleep by electricity.
William H alloc k, professor of physic In
Columbia university, said that Dr. Edward
Wheeler Scripture carried on a num bar of
experiments to produce anesthesia by elec
tricity while -b was director of Tale's
psychological laboratory, from 1891 to 1904.
"When one begins to talk about Bleep,"
said Prof. Hallock. quoted, by the New
Tork Times. , "h goes right Into a region
of doubt Sleep Is ons of the several In
bJTTujaUott polula la mod sen octane. Un
....
V''
jirf I
LTTTirEF, DRAKTB,
President Merchant National Bank
CHARLES T. KOtTNTZB,
President First National Bank-
clal trouble that accompanied the political
campaign and the approach of hostilities.
The banks of New York began calling In
their loans and money became tight and
credit uncertain. It was this contingency
loan certificates. They were resorted to
several times during the war and since,
but never before In Omaha, their use this
time being more on account of conditions
In the east than In any local stringency.
The present situation affords a good il
lustration of the development of the clear
ing house from a mere convenience to fa-
Field of
consciousness Is not sleep, and Just what
sleep la I would not attempt to say. It la
the most remarkable thing In animal life, ,
and It is more remarkable In the lower an
imals than in the higher. . ,
"The normal human being makes elabor
ate preparations once a day and then drifts
off Into a stats that we call sleep. He is .
not worried, though he Is almost helpless
during that time. He wakes up feeling In
vigorated. The ordinary human being, how
ever, doesn't need to worry.. He Is under
. a roof, out of the weather and knows that
a certain amount of protection Is thrown
around him- by his house walls and the
protective Institutions of society.
"But a rabbit, which Is accounted the
most timid of animals, seeks out some
snug place one or more times a day and
alao dlfts off Into the -absolutely helpless
state. During that time he is at the mercy
of any one of a number of hostile aTimala
that may happen along while he Is off
quard. But the rabbit takes his sleep,
nevertheless.
"If Prof. Leduct discovery la all the
cabled report says It Is, and that Is quite
possible. It should be of great assistance
In surgery and in the treatment of ner
vous diseases. Morphine Is now very
rarely used as an anesthetic; It is always
open lo the objection that the patient may
become addicted to the morphine habit.
"Chloffarm and ether are the usual
anesthetics, but they often upset the pa
tient's digestive system; ,they may slso
affect him Injuriously In other ways.
Physicians now and then find a putlent
upon whom they fnipl. cannot use the
ordinary anesthetics; he is so constituted
that his whole physkal system Is opposed
to any of the customary diugs used for
that purpose. In these cases the 'electric
sleep' would fill that old friend 'a long
felt want.'
Prof. Hallock was asked If the Induc
tion of sleep by electric currents would
not leave the patient with a sense of ex
haustion upon awakening, since sleep waa
brought about by fatiguing the nerves.
"Well, the mental processes have a
great deal to do with all that." he an
swered. "If the patient were convinced
"before electricity was applied that he
would get up feejing Invigorated, he moat
likely would feel that way, or thinic he
did, which amounts to the same thing
up to a certain point. A continued ae
ries of electric sleep might leave a sens
of exhaustion, but the few that ought to
be sufficient for surgical purpose should
not result In appreciable evil effects."
Darelapsurat of the Hleetrte Hallway.
Leas than twtnly-iive years ago, at
Young's hotel In Boston, a party of street
railway men made proud reference to the
fact that there were at that time 41a street
railways in the United Slates and Cauada.
These railways owned and operated over
I, 000 miles of track, ' employed SS.OuO men,
ran 18.000 cara, using loo.ooo horses, which
annually devoured ttVO.OOO tons of "bay and
II. OOO.OuO bushels of grain. The Item of
horses alone has been reduced and today
: but a few of the old "hay motors" can be
found dragging cars in the city of Nw
Tork.
Wna Ias coming at slscUlo traction th
VrrLLTAM
Manager Oman
cllltate the transaction of interbank busi
ness to an Institution of Important and far
reaching effect In Its relations to Individual
banks and to the banking world at large.
It hus bren largely Instrumental In bringing
about a mutual helpfulness In banking In
stitutions by means of which large banks,
temporarily embarrassed, may be saved
from ruin. It has thus given greater sta
bility to financial Institutions and to the
Industrial world at large.
While the loan certiflcatea have been
more or less common in other cities Omaha
has not resorted to them as precautionary
measures until this year.
Omaha ha been particularly fortunate
In Its banking Institutions. A a general
rule they have been conducted on safe
and conservative lines. The banking his
tory of the city begins In the troubulous
times of "wild cat" Institutions, which
.flourished all over the" country just before
the civil war. The drat- Institution to do"Tl
general banking business In Omaha was
the Western Exchange Fire and Marine
Insurance company, which opened an office
at Twelfth and Farnam streets In 1855.
Thomas H. Benton, Jr., a son of Senator
Benton, waa the first president. It did a
large and flourishing business until it
failure In the panic of 1S67. The next Insti
tution was the Bank -of Nebraska, which
began business In 1856 and closed In 1K68.
During this period of uncertain state bank
ing Institutions a number of banks were
organized, but most of them were abort
Electricity
growth of the street railway Industry has
been truly wonderful. The census for 1906
give a total of l.OKl electrto railway oom
panles in the United States, with over S3.000
miles of track and operating 0,000 oars. If
these cars were placed end to e'nd they
would form a solid train from Boston to
Cleveland, O. It takes an army of 2u0,000
men to operate these railways and nearly
7,000.000,000 passengers are carried each year
mora than eighty rides for every man,
woman and child In the United States.
The first actually successful commercial
electric road was placed In operation by
Eprague at Richmond, Va., In February,
IKsS. The distribution of power was by a
single overhead trolley, suspended over tha
center of the track supplying current at 430
volts. Current was taken from the wire
first by sliding contacts pressing against It
and subsequently by a trolley wheel aa in
present practice. This road was a success
from the start and It was only a few weeks
before electric traction was being agitated
in many other cities. One of the first
large systems to adopt electricity as a mo
tive power was th West End Street Rail
way company, In Boston In lass.
Following the adoption of electric traction
In the cities came the extension of the
tracks Into the rural districts. Massachu
setts and Connecticut saw the first general
extension of the lines. The growth rapidly
extended west through New York and
Pennsylvania to -the central and western
states, where they have reached their
greatest development
The problem of urban and Interurban
traffic Is solved and th engineers have
turned their attention to the electrification
of steam roads and the construction of long
lines of electric railroad for the hauling
of heavy pussenger coaches and long freight
trains.
Among the first of the great railroads to
adopt the new electric locomotives was the
New York Central, which has electrified Its
line from the Grand Central station to
Croton. thirty-five mile, and to North
White Plains, twenty-nine mile. Thirty
five General Electric locomotive haul th
train. All train are now being handled
In and out of the Grand Central station
and through the tunnel by electric locomo
tives. It Is claimed that a saving 'of S3
per cent is shown in this method of han
dling traffic. The New Tork, New Haven
& Hartford railroad electrical sona extends
from Woodlawn lo Stamford, thirty-three
miles, and trains are now running. The
Pennsylvania railroad Is building two tun
nels under the Hudson river from Bergen
Hill, New Jersey, to Thirty-third street,
New York, and four tunnels at Long Island
City under the East river and will handle
sll passenger traffic entering New Tork by
electricity. This company Is also opera
ting the West Jersey 6c Seashore line from
Camden to Atlantic City, sixty-five miles
by electricity and 1 completing the electri
fication of ninety-five miles of the Long
Island railroad. The Erie la to equip thirty
live miles of Its line electrically, from Jer
sey City to Greenwood Lake, and la con
sidering th change of '&0 miles of Inter
urban track. The Weat Shore la electrified
trvia L'Uca to Syracuse, UTty-two miles.
; V
B, TrtTOHDM,
a Clearing Ho
lived. It was not until the commencaqient
of the national bank period In UB that
great stublllty was secured In Omaha bank
Ing Institutions. .
At the beginning of that period theri
were two banking firms In Omaha which,
have continued with some changes down
to the present. They were Barrows, MIU
lard & Co. and Kounlio Brothers, both oC
them being at Twelfth arid Farnam streets.
There wero a number of changes In '.he
first named Institution until 1S83 the United
States National bank waa organised with,
a capital of tlOO.000, which waa increased
to ISO.OOO In 1886, and later to $600,000.
The First National bank was organised
In im, It being one of the first to take ad
vantage of the national currency law then
but recentlypasHed by congress. The pri
vate banking business of Kountze Brothers
waa continued1 until 1SG6, when It was)
merged with th First National bank.
The early business of this bank waalcon
ducted In a ama.ll frame building at Twelfth,
and Farnam, on the window of which was)
painted these words, "Mold dust and gov
ernment vouchers bought." Th bank also
established branches In Central City and
Denver, Colo., the Central City institution
being disposed of In a short Urn.
Henry W. Yates was connected with this)
bank from ths time of Its organisation
until 1SK2, when he withdrew to organise
the Nebraska National bank of which he Is
still the head. In 18 Ezra and Joseph H.
Millard withdrew from the Arm of Bar
rows, Millard A Co. to organize the Omaha,
National bank. Ezra Millard remained with
th bank until 18. when he organized ths
Commercial National bank, which has
since been merged with ths United State
National bank. The present Merchants Na
tional bank had Its beginning In a private
firm of J. A. Ware Co, which entered
Omaha aa a branch of a Nebraska City in
stitution in im. In 1870 th business In
Omaha was purchased by ax-Governor
Saunders, Frank Murphy, B. B. Wood and
others. It became the State Bank of Ne
braska and th Merchants- National bank
In 1W.
A number of other minor banking bouses
have been organized, but tney have either
been merged with those In existence now
or have gone out of business. In the panlo
of 1893 ths Omaha banking houses weath
ered the storm well, giving proof of their
solidarity and th safe manner In whlch,
they were conducted,
Th condition of the five Omaha national
banks at present Is declared to be good
and Mr. Yates, prealdent or tbe Clearing
House association, declares his belief that
every one of them ts In shape to Weather
any possible financial storm that may
come upon the country. Foreseeing a,
probable shortage of money, th banks)
began calling In outstanding accounts)
wherever they could conveniently, as long
ago as July. The result Is they now have
more money In their vaults than at any
Urns for years.' Th last report to th
comptroller of the currency shows the fly
national banks hav resources amounting;
to $40,300,113.89, and deposits amounting to
$40,318.4.9.31. According to these statements
the deposits and resources war distributed
among the banks as follows:
Deposits, Resources.
First $12,126,610.04 $18,467,417 96
Omaha 11.37a,49(ki3 13.3t4.ttt3.ftO
Lulled States ' Mi4.axj.07 10,800 MO 7S
Merchants ,HVl8.70 7,047'ni.OO
Nebraska l.iue.Urt.W i,2U.ti.T
Totals H0.tli.4SS.il I44.ta0.li2.8t
Th losns, surplus and profits of th fiv
banks wsr shown to b as follows!
Loan and Profits
Discount, and Surplus.
First ..... $ ,lriU33.0t $ ,& U
Omaha , 1940.&M.M .K6?
United States ....... 4.1Sl,DJ6.l 4O.470.
Merchants 3,MoO,6m4.87 ' 17,227. b
Nebraska 1.143,1116.24 t7.l40.00
Totals $24,864,S.71 $1,14110.00
Omaha's banks are officered by men
whose standing In business both locally and
In the country at large Is unquestioned.
They ax known for their Integrity and
conservatism. The following are th offi
cers of ths principal banking Institution
in th city.
First National Bank C. T. Kountse, pre.
Ident; F. H. Davis, vie president; L. L
Kountse, cashier; T. L, Davis, assistant
cashier.
United States National Bank M. T. Bar
low, president; O. W. Wattles and V B
Caldwell, vice presidents; Alfred Millard,
cashier; W. E. Bhoadea. L, M. Talma
and G. B. Haverstlck. assistant cashiers
Omaha National Bank J. H. Millard.
S resident; William Wallace and C V. Mo
irew, vice presidents, W. IL Bucholz,
cashier: Frank Movd, assistant cashier .
Nebraska National Bank H. W. Yates,
preaiuent; L. H. heed, vice .president; VV.
VI Hhepard, cashier; H. W. Yates, Jr., as
sistant cashier.
Merchants National Bank Luther Drake,
president; F. T. Hamilton, vice president;
F. P. Hamilton and B. IL Melle, assis
tant cashiers.
J. L. brandeis dt Sons. Ban Mrs A, TX
Brandei. president; H. H. Brand!, 1o
president r lnll Brandeis, cashier.
City Savings Bank J. F. Flack, president;
J A. Bunderland, vtoe prealdanu XV. K.
Hlllle. treasurer.
Haydan zttro, rtrirs--J, 1", CObomIL,
V ausvaj