Omaha daily bee., 1908-09-17
PLAN BIG BUILDING
Contracts Let for s-story struo.
ture in ReS 3 strict.
HOME FOR CEETRl TIE BANK
Location on Sixteen, & : 'her at
Harney or Douglas -. IS.
NEW BANK DECLARED yA1N
Capital at Start Will Be 100000 to
Be Doubled Later.
TO CATER TO SMALL INVESTORS
stock VIII BE sold to omahans in
Moderate sised BIOclxs--BuiIdinE
Expected 10 BE Ready within
n Year.
Capital at Start Will Be 100000, tc
Be Doubled Later.
TO CATER TO SMALL INVESTOR


Central State bank" which Is being or
ganized in Omaha, and a construction com
pany, for the erection OF twelve-story
hreproof building IN the heart Of the retail
district OF Omaha. The location will not
De named for at least thirty days, but II is
said wAl be either at Sixteenth and Harvey
streets or Sixteenth and Douglas streets.
Inc organisation Of q new bank was first
reported In The Bee several weeks aRo ana
work OF organizing the institution has
progressed rapidly, with NJ. c. Steele of
Omaha and @. NJ Atkinson OF st. Louis aa
the organizing committee. The stock Is
being offered to the general public and will
be largely made up of subscriptions from
business men who desire to connect them
selves with state bank which plans TO
have q capital Of $4,000, at the start and
later Increase its stock to 100000 or 100000.
The Central State bank expects to Sc
cure q charter under the laws of the state
OF Nebraska within thirty days and open
banking house In temporary quarters, which
have not yet been secured. The construc- |
tion Of tho building is to begin within
sixty days after the charter is secured The |
bank does not expect to- own the building |
but win have a banking room built espe- |
cialy for It's use on the second story OF |
the building.
Declares Building IL Certain.
M. O. Steele. who is vice president of the
Hobbs & Jones company, wholesale grocers.
and has been connected with the organlza-
tion OF the bank since its inception, au-
thorized the following statement and
showed plans for the new building:
The building Is certain and the sale of
stock has progressed to a point where the
Central State bank is q fact.
The officers and directors will be elected
at an early meeting of the stockholders
and charter secured authorizing a capi-
talization OF s2O0.oV0
Tho company which Is to build the
tweive-story building is a separate ORGANIC
alton from that of the bank. but some of ,
those Eho ars. connected with the bank
are Also stocithUfders IN the construction
company. :
Besides business men of Omaha a num- !
Der of country bankers win be stockholders
in the new institution"
The bank IL sending out a circular show
Ing the architects drawing of the proposed
building which Is to be completed In one
year and rival I'm finish and decoration the
costly skyscrapers of New York city.
Cater to small Investors.
The Central State bank will cater espe-
cially 20 the interests OF the man of mod
crate means and viii be equipped to offer
the employed man an opportunity to invest
his surplus earnings In profitable high
class securities, such as now only find their y
way into the hands OF men of large wealth ;,
With this In view II will proceed along new II
lines TO form its Organization and allow the \
general public to subscribe to the shares OF B
ts capital stock. The usual custom in r
forming banking organization is to secure q
from a few prominent citizens Q
ana financial interests and hold the stock ="
within close corporation. The Central :
State bank wants 20 commence business n
With host OF friends and interested stock v
folders, and will reverse the usual Gus
ON OF close corporation and controlling in VI
erests and welcome the subscriber to one
hare as well as those financially able to
AXE a larger block OF the stock
IL Is the intention that when the bank
aics possession Of it's new banking room to
he capital stock Will be doubled IN order W
o accommodate the demands which its q
ew modern facilities will create AS soon IN
$ the fact OF new bank organization pO
'as published In The Bee the committee t1i t1i
eceiVed several hurried communications ~,
specially from out OF town interests which 90 se
esired to invest large sums In the hank 40
tock and hold officers positions in the
CIV Institution. These offers were de- sn M
lined according to Mr.. Steele. as the in -,
'ntion is to make 1t an Omaha institution.
18th Omaha people as the stockholders, and .t 'h
no VIII select Omaha people sa officers. .N '
as rule laid down and to be adhered -
}. The fact that local bank stock IN any ~ ~
rse community is seldom offered for the 80 80
vesting public will no doubt secure a
rge rumber Of subscribers for the new -,
ank and thus insure the new institution ~,
arting with a long list Of depositors and
lends -
Field Open for state Bank.
Outside OF the Brandeis and Hayden A :,
'nks' the commercial banks of Omaha and
'uth Omaha are operated under charters
ON the national government so that the
eld has been open for some time for the q
went OF state banking institution or ,oa,
lnized and operated under the laws of -
e state nf Nebraska. according to those -
teFested IN organising the new institution 'y =
Mr., Atkinson has had large experience ing
the banking business and Is at present nes
cretary and treasurer OF the State Trust oI
:, OF 81. Louis. These parties have as lea lea
ciated with them. men OF large wealth Ag,
10 viii be Identified with the new bank. ire
Ian NEW UNIVERSAL TREATY raj 4