Omaha daily bee., 1917-09-30
EARLY BANKERS SEE
WELL INTO FUTURE
Pioneers Builded Strong Finan-
cial Institutions, Which
Have Grown to Pres
ent Proportions.
By A. R. GROH.

The southwest corner of Twelfth
and Farnam streets was the site of
the first institution in Omaha doing a
general banking business. This in
stitution was the Western Exchange
Fire and Marine Insurance company,
and its Office was opened in .he
spring of 1855. This was also the
first financial institution established
in Nebraska under a charter from
the legislature. Thomas II. Benton,
]r., was president, Leroy Tuttle cash
ler and A. u. Wyman teller y Tuttle
and Wyman each occupied the posi-
ton of treasurer of the United States
later.
The next banking institution in
Omaha was organized in 1856, 1t
was the Bank of Nebraska, and occu-
pied location on the southeast cor
ner of Twelfth and Farnam streets.
This bank issued $4,000 in currency
under the management of B. F. Allen
and Samuel Moffatt, which was re-
deemed in full.
The Omaha and Chicago bank was
granted a charter in 1857 and con-
tinued in business until 1864.
An carly issue of the Omaha Times
contains an advertisement as follows
"Gridley & Co., F. Gridley, J. H.
kellom-neW banking house. Money
loaned. Drafts on New York, St.
Louis and all of the eastern cities.
Gold and silver bought and sold 81.
reasonable terms" This firm was in
business for about three years.
Early Bankers.
Samuel E. Rogers was a banker
and real estate broker with an office
at Douglas and Eleventh streets in
1857. H. c. Rariden & Co. were
bankers and land agents, with an
Office on Harvey street, in 1858. The
Nebraska Land and Banking COM
pany was in business in that year.
Mcneil & Co. carried on business
as land agents and bankers. Arte-
mus Sahler & Co. and Smith & Par
melee are other early banking firms.
Two houses that started IN bust
ness before some of those named
were Barrows, Millard & Co. and
Kountze Bros. The former started a
land agency in 1855, the firm consist
ing of Willard Barrows of Dubuque,
Ezra Millard of Sioux City and J.rH.
Millard of Omaha. From the To-
eating OF land warrants and handling
OF exchange the firm worked into the
general banking business.
Kountze Bros. Pioneers,
Kountze Bros. started December
10, 1857, just after the panic of that
year. This firm originally consisted
of Augustus and HERMAN Kou1tze,
but = few years after included also
two other brothers, Luther and
Charles Kountze. Their first bank
ing building consisted of a small, one
story building on the north side of
Farnam street, between Twelfth and
Thirteenth. streets. In the rear of
this room stood a safe fastened by
means of hasp, staple and paddock.
The purchase and sale of gold,
brought in from Colorado and other
mining camps,\ constituted large
part of the banks business in the
early days. A shelf extending along
the east and north sides of the room
was frequently filled with tin pans
containing the precious metal. Luther
Kountze" and w. H. S. Hughes slept
in the bank as a guard. When Law
renee, Kan, was burned during the
war by the guerilla, Quantrell, it was
reported that he and his band of out
laws were preparing for raid on
Omaha, The windows Of the bank
were then fitted with heavy iron barS
and the guard was doubled. The
Kountze Bros. established a branch
''}ank in Denver in 1852 and also or
ganized the banking house Of
Kountze Bros, New York. City.
On Same Street.
The banking houses of Barrows,
Mllard & Co. and KouDtze Bros,
both located at Twelfth and Farnam
streets, were the only two in Omaha
that survived until 1868. The former
occupied a part of the first floor of
brick building on the southwest cor
ner of Twelfth and Farnan streets.
In 1864 Willard -Barrows withdrew
from the bank and the firm name was
changed to Millard, Caldwell & Co.,
c. w. Hamilton, who had been with
the firm as bookkeeper, being ad-
1nitted as partner. In 1868 Ezra Mil
lard retired from the firm and the
name was changed to CALDWELL Ham
ilton & Co. In 1883 this firm devel-
ee9l 9ped into the United States National
The Kountze Bros. firm developed
into the First National bank, being
nationalized in 1868 and starting then
with a capital of $4,000. Edward
Creighton was its president; Herman
Kountze, vice president; Augustus
Kountze, cashier; H. w. Yates, as
sistant cashier 1t was the first bank
in Nebraska to organize under the
national banking law and the two