Omaha daily bee., 1909-12-05
South Omahas Banking Houses Are Strong and Healthy Institutions

-HE handling Of 6ooooo head Of
a" stock and their transformation
into food and by-produc,s
- means big commercial trans
t4H61At actions. and many % them
- The four national banks To-
Gated in he city 90 south Omaha are the
resultants Of the commercial forces Of the
packing industries and cattle markets
which they setve. That these banks are
reflects the prosperity OF the
Institutions which they serve. The millions
that the cattle feeder and the packer pro-
duce must largely pass through these
banks. The many and rape operations OF
the cattle market require ready money
and lots Of a. The South Omaha banks
have got Il. too.
The combined statements Of the four ma
tional banks OF South Omaha show that
with deposits to.aling J1li5L725 they have
zach resources Of $500. 7O7. That mems
mat the cash resources are over 50 per cent
OF the total deposits, more than double the
amount that these banks are required to
carry according TO law. and an amount FAR
in excess Of what is carried by banking
houses operating in other fields.
These banks carry cash resources in
about this same proportion at all times.
The banks are thus enabled to meet an
unusual demand that may be made upon
them. They must also provide the funds
used On the handling Of 500 CoooW Of pack
ing house products which are annually put
out by the South Omaha packing concerns,
as Well as to finance an equal volume OF
business which grows out Of the sale and
purchase Of the stock in the yards which
furnish the packers their materials.
The oldest Of the banks Of the city Is
the Union stock Yards National organ
lied as a state bank in 1856. It is exclu-
slvely concerned with the business OF the
stock yards and does not handle a gen
eral commercial business. At the beginning
this bank opened In a tiny corner Of the
exchange building. It outgrew its quarters
along with the other early departments Of
the yards business and the building which
IL now shares with the stock yards COM
psny was built some years later.
The Union Stock Yards bank was ma
tionalized in 1881. 1t is capitalized for
S9oO,e9 The statement OF November 16
shows ? to have deposits total.ng nearly
100000. with loans and discounts OF
S.S73S44.
The Oldest national bank Of the quartet
of the packing town is the South Omaha Ma
tionaL Its original charter was granted IN
December. 1856. 1t was the second bank Ia
the field there. The i~nsistent prosperity
Of this bank is attes;ed by the fact that
its deposits continued TO increase even
through the panic Of 1907. In August, 1907.
this bank had deposits Of $4,000 and on
December 3 Of the same year they had in
creased to 1855. OO0. and in the face OF the
financial depression that Jared the coun-
try. Stock in this bank is now worth SEQ
per 800 share. The growth OF this bank
has been hand in hand with that OF the
at
dends Of 16 per cent at present. This bank
has been under the management of H. c.
Bostwick, president, continuously since its
beginning.
That shows how much can be accom-
plished by following out steadily one con-
~sistent program" remarked John c. French,
cashier, commenting on the success of the
South Omaha National
The Packers National is the third among
the South Omaha banks in the point of
age. This institution was founded in 1891
with a capital Of $4,000. In 1906 the
growth of the bank demanded an increase
and the capital stock is now $4,000. The
deposits Of this bank, according to the
last statement, are S~2,l45.sSS. The manage
ment of this bank has changed but little
since its reorganization. Its growth has
been steady and consistent in the pursuit
Of a fixed program.
Tie Packers National but reeently
moved into its new quarters. The old struc-
ture at TWenty-sixth and y streets has been
FAR outgrown. The new home Of the bank
Is a magnificent building constructed ex-
c~lusively for the purpose OF the one
concern. The interior is highly finished in
massive marble and mahogany.
The Live Stock National is the youngest
Of the South Omaha barking houses. II
opened for business in the midst OF the
panic Of 1907 and got busy in the field
right away. Everybody wanted our
money and were anxious to pay interest
on IT," said L. NJ. Lord. cashier. This bank
also has a savings department where
minimum deposits Of 81 are received. This
feature has proven an attraction TO the
many people OF the industrial, town.
The Live Stock National handles a
steamship agency. and 1t is found that
there is a remarkably heavy business in
this line In South Omaha. Most Of the
tickets by the way are for incoming
passengers. but very few ever go back.
The foreigners come to South Omaha,
and after working a few months have
saved enough money to send for thelr
families. Hundreds come in this way every
year.
In July the comptroller Of the currency
designated South Omaha as a reserve city
I This means much for the financial inter
I ests Of the community and its industries
While many small country banks ha,
Z hitherto maintained reserved funds in IN
s South Omaha banks, such funds wer
2 liable 70 withdrawal at any time that
Z statement was called. As a reserve city
: under the order OF the comptroller, tn
Z national banks Of South Omaha have thu
{ available for the uses OF their large com
) mercial operations an increased wOrkin
y fund.
6 In Increasing the scope Of the possibl
, operations Of the banks Of South Oman
Z this move is Of sweeping Importance, no
s only to the banks. but all the inerests an
, concerns which they represent and wit
Z which they are connected.
a Bachelors Reflections.