Omaha daily bee., 1919-04-11
PETERS TRUST
ACQUIRE LEASE
OF BEE BUILDING
Big Financial Institution to
Remodel Structure and o.
cupy Ground Floor Quar-
tiers for Its Business.

Through purchase of the entire
outstanding stock of the Keystone
Investment company, the Peters
Trust company yesterday acquired
control Of the lease of the Bee build
ing, Seventeenth and Farnam. The
Peters Trust company was repre-
scented in the negotiations by Harry
Turkey. The Keystone Investment
company was incorporated some
years ago by Byron r. Hastings,
Edward M. Slater, Charles w. Mar
tin, Harry A. Wolf and Ernest
Sweet, and holds a 9o-year lease on
the Bee building property.
The consideration is said to be on
valuation basis of approximately
! 100000 and the transfer 10 to take
place May /.
1t is the intention of the Peters
Trust company to completely re-
model the Bee building, making it
modern both inside and out Tenta-
tive plans contemplate the removal
OF the skylight over the court so
that all the court offices will have
outside air and light, the relocation
OF the elevators and remodeling the
entrance lobby and the first floor.
Work Begins Soon.
This work will be commenced as
soon as leases now i'll effect expire
and it is expected will be completed
this year. The Bankers Realty In
vestment company has agreed to
move its Offices from the ground
floor to the first floor of the build
ing to facilitate the work for which
plans are now being made by John
Latenser and Sons.
The Peters Trust company will
occupy the larger part of the ground
floor. The skylight over the present
court will be lowered to the third
story and the present court space
fitted up into one of the most mod
ern and attractive banking rooms i'll
the west With space extending out
to the street frontage. The building
will be known after the occupancy
by the Peters Trust company as the
Peters Trust building. 1t is interest
ing to note in connection with this
move that the Peters Trust COM
pany commenced its business de-
velopment in the Bee building and
was one of the early tenants TO oc-
cupy space in the Bee building.
Growth of the Company.
During the past year the growth
of the department devoted TO the
handling of high grade investment
bonds has been so rapid as to make |
larger quarters for the company I'M
perative.
Statement by r. c. Peters.
Mr.. Peters explained the tlansac-
Jon and proposed move into bigger
quarters as follows:
The growth of the trust business
of the Peters Trust company dur
ing the past few years and the de-
velopment of the other departments
OF the business have made it neces-
sary for us to plan an adequate |
permanent home for the future We |
expect to make the Bee building
one of the most attractive office
structures IN the city ana DellcVe we |
will have a. location for our own
business which will adequately |
house the developments which we
plan for the future. 1t is interest
ing to note that through this move
the Peters Trust company will Sc
cure a permanent home on The To-
cation where it first started bus
mess in Omaha years ago"
The Peters Trust company was
established in 1886 by R. c. Peters,
the directing head continuously |
since that time. In 1911 the bust
ness was incorporated the Peters
Trust company, holding Trust Com
pany Charter No. | of the state OF
Nebraska. The Peters Trust COM
pany now has a capital OF 100000, |
the largest of IL, trust company III
the state.
The company has become widely |
known throughout the west through |
the development of its farm loan
business, the company being known
as the largest farm loan organiza-
ton in the United States.