Omaha daily bee., 1905-06-21
THREE BANKS MERGE
United States, Commercial and Union
National to Be Consolidated.
RETAINS NAME or THE FIRST MENTIONED
Quarters of Commercial National to Be
Occupied by New Bank.
CAPITAL AND SURPLUS $500, 1000
Officers and Directors Made Up from Each
of the Old Banks
CALDWELL MOVING SPIRIT IN The DEAL
Final Agreement Entered Into at
CAPITAL AND SURPLUS 100000
CALDWELL MOVING SPIRIT IN The OEh
Final Agreement Entered Into at
Meeting Held Last Night at the
Residence of G. w.
wattIes.

The consummation of deal involving
large and important interests was am
nounced last night, contract having been
made between the principal stockholders
of the United States National bank, the
Commercial National and the Union Ma
tional whereby the three banks are to be
consolidated as soon as the legal acts can
be completed. The consolidated banks Will
have n capital Of $4,000 and a surplus OF
s2OOOOO 1t will retain the name of ,he
United States National bank. 1t will oc-
cupy the building of the Commercial Ma
tional bank, which will be remodeled inside
TO accommodate the greatly increased vol
ume of business.
The officers of the new institution will be
as follows: NJ. T. Barlow, president; G. w.
Wattles and Victor Caldwell, vice presi-
dents; Alfred Millard, Cashier, and w. 70.
Rhodes and l. NJ. Talmage, assistant CASH
iers. The directors will probably be AS
follows: Guy c. Barton. c. e. Yost, G. w.
Lyman, +. NJ. Morsman, w. w. Morsman.
Alfred Millard, G. w. Wattles, w. a.
Smith, A L. Reed. NJ. 7. Barlow, V. B.
Caldwell, Euclid Martin, N. A. Dun, S. s.
Caldwell and b. +. Smith. The personnel
| of the the officers and directory is such as
to insure the new bank being one of the
| strongest in the west.
G. w. Wattles. 800 South Thirty-seventh
street. where the representatives of the
| three banks affected spent the evening in
conference.
| Caldwell Moving Spirit.
| Mr.. wattles, when seen at his residence,
| said:
This deal of consolidating these banks
was worked out by Mr.. Caldwell, who was
obliged to overcome large number of al
| most insurmountable obstacles to accom-
plish the results that have been reached.
1t 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.
''Afr. Caldwell conceived the idea some
time ago that one large strong banking
house, with ample capital, would be better
able to meet the financial demands of the
people of the city and of the west than
three smaller banks could do. With this
idea in mind he started out to effect the
consolidation. It was entirely his own idea
and he worked out all of the details.
'I believe that 1t will be an institution
second to none west of the Missouri river"
Mr.. CaIdweu's View.
Victor Caldwell said: This consolida-
ton takes what is best of the three insti-
tutions. l refer particularly to the charac-
ter of the men who become directors and
active officers of the new bank
Each bank has been rigidly examined by
committees appointed from each of
them for that purpose Into the new or
ganization will go the best assets of the
three banks, which have been selected by
the strongest men in each institution. The
new bank is organized in such a manner
that the officers well acquainted with
the needs of customers, who will see in the
new bank officers and directors of the three
banks, that their interests will be pro-
tected as heretofore.
with the well known conservative views
Of Mr.. Barlow and the strong, aggressive
character of Mr.. Wattles, who will take ar
, active and energetic part in the new insti.
tuton / believe that its success is abso
lutely insured. j. w. Thomas cashier OF
. the Union National bank, will remain for Q
time at least with the new bank, and 1t II
as yet undetermined just what final dis
position will be made of his valuable serv
; ices"
First Report Erroneous.
Preceding the absolute announcement
the following statement regarding a rumol
current yesterday was made by Henry w
Yates. president of the Nebraska Nationa
bank, who declared positively that ther,
was no consolidation scheme under con
sideration by his bank;
There may be consolidation negotiation
= on, but II so they must be between tn
\ Commercial National and another banl
and do not include our bank. 1 wish yo,
would correct the report that makes tn
! Nebraska National a party to the pro
. posed merger"
: To work out the legal details of the con
l. solidation will require thirty days time
D.; during which period each bank will kee
: its present place of business and conduc
n its business as in the past. until a meetn
!. of the stockholders is called. A meetn
i of the directors will be held this afternoo
; and a notice will be issued to the stock
Il holders to meet IN thirty days, as require