Hall County, Nebraska - Chapter 16: Banking and Financial Institutions of Hall County, 1920

Chapter 16: Banking and Financial Institutions of Hall County

State Central - Citizens State Bank - Grand Island Banking Company - Charles F. Bentley - George B. Bell - The First National Bank (Grand Island) - The Bank of Commerce - The Security National Bank - The Commercial State Bank - State Bank of Grand Island - Nebraska State Bank - People's State Bank - Bank OF Doniphan - Commercial Exchange Bankof Doniphan - Alda State Bank - Fara MERS State Bank, Alda - Cairo State Bank - Farmers State Bank (Cairo) - Building AND Loan Associations - Equitable - People's - Wood River - Other Financial Institutions - Trust Companies - Grand Island - Nebraska state central - citizens state bank The pioneer financial institution of Hall County was the old State Central Bank, organized by Henry A. Koenig in 1871. H. A. Koenig was president and Dorr Heffleman, cashier, and the capital stock was placed at $45,000. In 1873 the State Central Bank of Nebraska advertised in the Daily Evening Times, "Capital $45,000. Authorized Capital, $200,000. Pays interest on time deposits. Special attention given to Collections. Pays taxes for non-residents. Sole agents in this region for all the principal steamer Hnes. Deals in foreign and domestic exchange." F. A. Wiebe was president and Dorr Heffleman, cashier. Henry A. Koenig, the founder and first president of this bank, was then serving as state treasurer of Nebraska. In 1876 when banks through Nebraska were few and far between Dr. J. P. Patterson, in his centennial sketch of Grand Island, commented on Grand Island having a bank in this manner : "Let people say what they will, banks are a great convenience to the public, and this is no exception, and perhaps if every individual would figure as closely as bankers, they would not need their aid so often."

through the 'seventies. In 1865 there were only seven banks doing business in Nebraska. At the time of the great panic in 1873 there were only twenty-five banks in Nebraska, eight national and seventeen private banks. The other seven national banks in the state then were: First National of Brownville; Otoe County National at Nebraska City; First National (Kountze Bros.) and Omaha National (J. H. Millard, president) at Omaha; First National (Tootle & Hanna), Plattsmouth; First National (Cobb & Sudduth, 1868) and State National, 1872, (Jas. Sweet & Brock, 1868) Lincoln. State and private banks were in existence at Beatrice, Blair, Columbus, Crete, Fremont, Madison, Norfolk, Pawnee City, Tecumseh, West Point, Neligh. So it will be seen that the State Central Bank of Nebraska at Grand Island was a pioneer among the banks of the state. Mr. Koenig continued as the head of the State Central Bank and. its successor, the Citizens National Bank, during practically its entire career, except for the time he was state treasurer, when he had to relinquish that office for that period.

In 1887 the Citizens National was operating on a $60,000 capital, and its officers were Henry A. Koenig, president, William Hagge, vice-president, D. H. Veiths, cashier, George

A. Mohrenstecher assistant cashier. This bank was located in the Koenig building, at the corner of Third and Locust, where the State Bank of Grand Island is now located. In 1892 the cashier was Geo. A. Mohrenstecher, and the directors were John L. Means, Henry A. Koenig, O. A. Abbott, Gust Koehler, William A. Hagge, A. H. Baker and Geo. M. Mohrenstecher. The directorate remained the same through 1893 and into 1894. The statement of this bank issued October 3, 1893, a short time before the bank went under through its failure to withstand the pressure of the panic of that time, showed :

After the failure, when Comptroller Eckles assessed the stockholders $1,000 upon each share, those held responsible under that assessment, and the number of shares of stock they then held were : Henry A. Koenig, 23 ; Wm. A. Hagge, 12; G. A. Mohrenstecher, 4J4 ; O. A. Mohrenstecher, 1 ; Mary Mohrenstecher, 2 ; A. H. Baker, 3>^ ; John L. Means, 5 ; Henry Mayer, 1 ; Gust Koehler, 1 ; T. Morseman, 1 ; B. Lombard, 3 ; A. W. Ockabock, 2. Hall County in settlement of its deposit, secured the property at First and Locust upon which the present court house is situated and which had been the Koenig home. Thus even with its unfortunate ending, this institution served to carry the community through the early years of the troublesome 'seventies without any other bank in the county to assist or compete with it.

The Grand Island Banking Company

The State Central Bank remained without competition until 1879, when the Grand Island Banking Company was organized, and incorporated in 1880 with S. A. Peterson, G. A. Packer, C. P. Packer, J. P. Kernohan, J. G. Glazier and J. E. Hopper stockholders. C. P. Packer was succeeded as president of the company by S. A. Peterson, and J. P. Kernohan, the first cashier, by George B. Bell. In 1890 there were twenty-seven stockholders and the capital was then $110,000. It began business with a capital of $40,000. In 1887 S. A. Peterson was still president, .O. A. Abbott was vice-president, Geo. B. Bell, cashier, and W. B. Carey, assistant cashier. The directors during the early 'nineties were S. A. Peterson, Geo. B. Bell, J. W. Thompson, Chas. G. Ryan and Blake C. Howard. W. A. Heimberger was assistant cashier in 1894. In 1897 the officers were, S. A. Peterson, president, J. W. Thompson, vice-president, G. B. Bell, cashier, and W. A. Heimberger, assistant cashier, and the directors were S. A. Peterson, J. W. Thompson, B. C. Howard, Chas. G. Ryan, Geo. T. Berry, and G. B. Bell. Albert Etting became a director between then and 1902. In 1904, the head officers of the bank were still S. A. Peterson, president, J. W. Thompson, vice-president, and G. B. Bell, cashier. I. R. Alter had become assistant cashier prior to 1907. About ten years ago the first very radical change in the management of this bank occurred. The name was changed to The Grand Island National Bank, and C. C. Hansen, who had been a successful banker in Howard County and through Central Nebraska purchased stock in the insti tution, and was elected president. Mr. Bell also left the bank and T. J. Hansen was made cashier. J. W. Thompson remained for a few years longer as vice-president ; E. M. Brass also became a vice-president, F. J. Cleary a short time later became assistant cashier, Charles G. Ryan remained as attorney, and Fred W. Ashton, M. L. Dolan, A. M. Hargis, local men, went onto the directorate. A. J. Guendel later became an assistant cashier also.

In 1916 the officers remained the same as they had been in 1914, C. C. Hansen, president, E. M. Brass, and J. W. Thompson, vicepresidents, T. J. Hansen, cashier, A. J. Guendel, assistant cashier, except that L. R. Brininger had succeeded Frank J. Cleary as cashier. W. H. Luers secured stock in the bank and became assistant cashier after A. J. Guendel left this institution.

Another sweeping set of changes occured in the history of this institution, late in 1917, when through the sale of stock from the Hansen interests to Messrs. Thomas, Griess and Luers, a general shifting was made in the officers. C. C. Hansen became chairman of the board, Theo. Griess, president, George H. Thomas, vice-president, T. J. Hansen, vicepresident, W. H. Luers, cashier. These gentlemen are the present officers of the bank, with Harry C. Hee, Chas. F. Bryer and J. W. Thompson, Jr., as assistant cashiers, and F. W. Ashton, Richard Goehring and Otto L. Mattke as directors. Mr. Mattke was elected at the beginning of 1919, succeeding E. M. Brass. Messrs. Thomas and Griess came to Grand Island from Harvard, Nebraska.

This bank for many years occupied the building at the southwest corner of Third and Wheeler, now the Strasser block. Five years ago it moved into the present quarters in the remodeled Glover building, 302 W. Third.

This bank was one of the two out of the five of the city that, under the Bell management, weathered the financial storm of the 'nineties. Indicative of the ebb and flow of that financial tide, a few quotations from the statements of a ten year period, from 1892 to 1902, show the career of this bank in those troublesome times :

A very important transaction in the history of the institution took place in July, 1919, whereby the controlling interest of the Grand Island National Bank held by George T. Thomas and Theodore Griess was sold to the following gentlemen : C. J. Miles of Hastings, Nebraska, \V. H. Luers, J. W. Thompson, Jr., F. W. Ashton, Otto Mattke, Richard Goehring, Sr., Juergen Knuth, Gustav Sievers, Albert Quandt, T. A. Brandes, Richard Neurnberger, E. L. Brown, Rudolph Siebert, Fred Willman, C. F. Dryer, Percy N. Gorman, H. C. Hee, Wm. Scheffel, Emil Wegner, Gus E. Neuman. At that time the Independent stated :

The many interests in common which Messrs. Thomas and Griess are identified with in Harvard, Nebraska, made it practically impossible for them to devote all of their time in Grand Island, and appreciating the importance that as such officers of the bank it was incumbent upon them to have their homes in Grand Island, and finding that this could not very well be arranged, they concluded to accept the offer that was made to them by Mr. Miles and his associates to purchase from them the control. Under this arrangement, Mr. Miles will move to this city very shortly, and commencing on September 1st will assume the presidency of the bank, and will from that time be actively engaged at the bank in that capacity.

The career of Mr. Miles is one continued series of successes. Coming from Hastings in 1895 as general sales manager of the Cambria Coal Company, he became the owner of a line of grain elevators in 1898, and still continues to hold his interests in that business. He became mayor of Hastings in 1902 and held that official piosition until 1913, during which time he was active in all that pertained to the advancement of Hastings and its interests. He has been a director in the First National Bank of Hastings since 1895, was supreme councillor of the United Commercial Travelers from 1905 to 1906, and has passed through all the chairs of that order, state and national. He is president of the Grand River Coal Company, president of the Missouri Electric, Gas & Water Company, president of the Eustis Electric Light & Power Company, and also president of the Grand Island Gas Company. He is a thorough and conservative business man and banker. Mr. Miles has been instrumental to a great extent in the progressive upbuilding of Hastings, and is a man thoroughly active and aggressive for the furtherance of each and every enterprize that he learns is coming to his locality or that is already there.

Associated with Mr. Miles in the active management of the bank will be Mr. W. H. Luers and Mr. Jay Thompson, son of J. W. Thompson, formerly vice-president of the bank, both of whom are well and favorably known that a further introduction would be unnecessary.

Charles F. Bentley

The next entrance into the banking circles of Hall County was that made by the establishment of a private bank by Charles F. Bentley. In 1880 Mr. Bentley, then of Freeport, Illinois, came to Omaha, Nebraska and there Senator Joseph H. Millard, of the Omaha National Bank, recommended to him that Grand Island would be a fine opening for a bank, so he came here and opened a private bank. Before we take up the history of the First National, one of the two banks that survived the financial storms of the 'nineties and which he served for twenty-six years as cashier and director, it is fitting to pause to sketch the life career of this man. Not only in banking circles but throughout a great many other activities related in this volume his record of service is touched upon.

Charles Frederick Bentley, was born in London, England, July 4, 1843. His grandfather, Peter Bentley, was of an old Yorkshire family. During the greater part of his life he was an excise officer of the crown, and when age prevented further attention to the duties of his office he was retired on a pension. He died at the age of seventy-seven, having been for very many years a worthy member and an ardent supporter of the Methodist church. One of his sons was Peter Johnson Bentley, who, when a youth, left Yorkshire for London to enter the employ of an uncle. Accompanied part of the way by his father, he left home on foot and walked to York, completing his journey from that place to London by stage coach. Some years later he became a member of the wholesale dry-goods firm of Robert Bentley & Co. in

Cheapside, London. This firm for many years held a prominent place among the wholesale dry goods firms of that city. In 1851, owing to failing health, he emigrated to America, going first to Lafayette county, Wisconsin, where two of his brothers lived. A little later in the same year he moved to Freeport, Illinois, where he purchased a home, invested the means he had brought with him, and lived quietly and free from business cares during the remainder of his life. The home that he bought in 1851 he occupied with his family until his death in 1898. In 1901 his children sold the old homestead to the city of Freeport to be used as a site for the public library build- ing, toward which Andrew Carnegie donated $35,000. His wife, Ann Sarah Harvey, to whom he was married when she was twentyfive years of age, was the daughter of the captain of an EngHsh merchantman and had been left fatherless in her youth. She became the mother of four children, and died in Freeport in 1856. Her oldest child was Charles F. Bentley.

When a boy he attended the public schools of Freeport, and then for several years was a country school teacher, working on a farm occasionally, when not employed in teaching. In March, 1863, he entered the employ of De- Forest & Co., bankers, at Freeport, and a year later their bank was made the First National Bank of that city. Starting in as a young man of all work, he was advanced step by step until he became assistant cashier, a position that he retained until 1880. He then came to Omaha, and upon the recommendation received there, direct to Grand Island, where he established a private bank. In 1882, in company with several substantial citizens he organized the First National Bank of this city.

Mr. Bentley at once became cashier of that institution, as well as a director, and these positions he held for the next twenty-five and a fraction years, until his death, which occurred on July 15, 1908. He also took part in the establishment of other banks in Hall County, and his name will appear many times yet in connection with them. He was one of the organizers of the Doniphan Bank in 1886, and later became president of that institution. He was the first president of the Cairo State Bank, organized in 1902.

In 1864, when the call had been made for 100 day men, Mr. Bentley enlisted in the 142d Illinois Volunteers in which regiment he served as a commissary sergeant. He always gave his support to the republican party, but served as a private in political ranks and never sought office.

He took an early and continued interest in building and loan associations. He served as an officer in both the old People's Association and for thirteen years the Grand Island (Equitable) Association. He wrote the first building and loan law in the state of Nebraska, and directed his activity chiefly to efforts to secure such legislation and to promote such forms of organization as seemed calculated to insure safe and conservative management of the associations and fair and equitable relations between them and their members. For several years he was president of the Nebraska League of local loan and building associations, later vice-president for this state, and in 1907, president of the National League for the United States. He is one of the men to whose activity and energy the fact is due that Nebraska has building and loan laws superior to many of the states about her.

He was married, November 26, 1868, to Miss Angeline Alice, daughter of Peter Dreisbach and Lavina (Klopp) Fisher, a native of Rock Grove, Stephenson County, Illinois. To them three children were born: Arthur Fisher Bentley, formerly an editorial writer on the Record-Herald of Chicago, author of numerous valuable economic and governmental studies, during the war state director of American Red Cross for Indiana, and now returned to his private pursuits as an orchardist at Paoli, Indiana ; Doctor Frederick James Bentley, a leading oculist at Seattle, Washington; and Grace Bentley Paine, wife of district Judge Bayard H. Paine of Grand Island.

George B. Bell

GEORGE B. BELL was born at Colrain, Massachuesetts, on April 10, 1861. His father, Joseph Shepardson Bell, graduated as a civil engineer, but followed farming and married Sarah Packer.

George Boardman Bell was educated in the Colrain district school, at Power Institute, Bernardston, Massachusetts, and left before graduation to take a position with the Grand Island Banking Company (now Grand Island National Bank) on December 15, 1880.

Mr. Bell became the second cashier of the Grand Island National Bank and served until October 1, 1910, when he left this institution after twenty-nine years of service, during six of which, 1895-1901, Mr. Bell and Mr. Bentley, as cashiers of the two banks of Grand Island, bore the brunt of the responsibility of the banking work of the community. In the ten years that he has been hving in Chicago, since he severed his connection with the Grand Island National Bank, Mr. Bell has made a steady climb in the financial world. He was director, secretary-treasurer and manager of H. O. Stone & Co., real estate brokers of Chicago, 1913 to March 17, 1919. Since he sold out his interest in that concern he has devoted most of his attention to his duties as president and director of the Delta & Pine Land Co. of Mississippi. This concern owns the largest cotton plantation in the world, containing 52,000 acres of the richest delta land in Mississippi. Mr. Bell is a heavy stockholder in the Koehler Hotel Co. of Grand Island. He also owns several Chicago apartment and store buildings, and has other corporate interests in Chicago and elsewhere. He has been a Republican in his political views and an active worker in Masonic circles and the Elks order. He was married on August 6, 1885, to Emma Howard, daughter of Blake C. Howard. To this union were born, Clarence Howard Bell, who died when a year and half old ; Margaret, who married Charles S. Hart, living in New York City; George Boardman Bell, Jr., married Jane Fowler, living in St. Louis ; and Dorothy at school at the National Park Seminary, Forest Glen, Maryland, near Washington, D. C.

The First National Bank

The establishment of the First National Bank of Grand Island has already been touched upon. Articles of association were executed July 14, and United States Charter (2779) issued August 22, 1882, making it the oldest National Bank in Grand Island. The original stockholders of this institution were: Martin Horn, Alex Stewart, Geo. H. Andrew, Charles Milisen, J. H. Murphy, W. J. Burger of Doniphan, James Hall, A. D. Sears, Henry Mayer, H. J. Palmer, John L. Means, C. W. Thomas, Fred Hedde, Dr. A. L. Stevenson, Thompson Brothers (W. H. and J. R.), H. C. Held, Samuel N. Wolbach, Patrick Dunphy, C. F. Bentley, Angeline Bentley, Hattie B. Cummings, P. J. Bentley, Ella M. Paine, Maria F. Fisher, and John W. Lambert.. The stock then subscribed was 500 shares, or $50,000. This line-up of stockholders continued until January 2, 1885, when an increase in the capital was made to $100,000, more stock was allotted to the old stockholders and three more added, John Reimers, Arthur Mayer, and May Lamb.

After thirty-seven years of existence for the institution the stockholders in 1919 are: Samuel N. Wolbach, Ralph R. Horth, John Reimers, Mr. and Mrs. Bayard H. Paine, I. R. Alter, H. J. Palmer, Paul Frauen, Arthur C. Mayer, John Donald, Chas. G. Ryan, Chas. W. Brininger, L. T. Geer, J. A. Mitchell, S. Y. Bryson, Mr. and Mrs. Frederick Wietzer, Ira T. Paine, May D. Lamb, A. D. Sears Augusta Veit, Anna J. Mileson, Dr. F. J. Bentley, Arthur F. Bentley, Emil Wolbach, E. J. Wolbach, Terry Reimers, Theo. Reimers, and Oscar Reimers.

Samuel N. Wolbach was elected the first president of the bank and has remained at the head of the institution throughout the entire thirty-seven years.

This bank has weathered all the storms in these thirty-seven years, but the most trying time in its history was in 1895 and 1896, when three of the banks of the city went under, and the two remaining struck the lowest point in their history. The First National showed in its report of March 9, 1897, deposits of only $191,063, while the Grand Island Banking Co., the other survivor, on Dec. 31 1896, showed deposits of $69,677.35. This was the ebb of Grand Island's financial institutions, and since that date both of the surviving banks, and all of their new competitors have shown steady, substantial gains, year by year.

C. F. Bentley -remained as cashier until his death, July 15, 1908. Through the 'eighties, there had been seven directors who served for a number of years: S. N. Wolbach, C. F. Bentley, C. W. Thomas, H. J. Palmer, John Reimers, Patrick Dunphy and W. J. Burger, the latter residing at Doniphan. Later the board was reduced to five, and Messrs. Wolbach, Bentley, Thomas, Palmer, and Reimers served together for many years. C. W. Thomas disposed of his stock late in 1908, and L. M. Talmage, who had purchased part of the stock of the Bentley estate, was elected a director, and became the second cashier of the bank. He remained as cashier until he disposed of his stock interest on December 1, 1914, after which time I. R. Alter, Jr. was elected cashier, and he is still serving in that capacity. After the death of his father, Arthur F. Bentley served for a short time as director, after which Bayard H. Paine was elected a director and has served on the board since then. In the following- Januarj' (1909) the board was restored to seven members, and Ralph R. Horth and Paul Frauen were elected. Since the elevation of Mr. Alter to the cashiership and his election as a director, the board has been composed of Messrs. Wolbach, Reimers, Palmer, Paine, Alter, Horth, and Frauen.

Through part of the time the bank has not carried the title of assistant cashier, but F. C. Hanaford and S. E. Sinke served this bank faithfully in practically this capacity during a period of service lasting between twentynine and thirty years each. S. D. Ross was elected assistant cashier on June 30, 1902, and resigned October 26, 1908. Then Messrs. Hanaford and Sinke each held the title of assistant cashier for a number of years, and then I. R. Alter, Jr. became assistant cashier. After Mr. Alter became cashier, Frank J. Cleary came to the First National as assistant cashier, and after he left the bank in 1918, P. C. Birk was elevated to this office. Before Mr. Bentley's death the bank built and occupied a very ornamental and splendidly arranged one-story, stone front building at 112 West Third street.

Mention has already been made of the low ebb this bank reached in 1896 when it weathered the financial storms of those trying times. A little further indulgence in figures for the ten year period from 1892 to 1903 will show how this bank fared in those times of storm and returning sunshine.

The rapid decline in such a short space is worthy of notice. It will also be noted that loans and discounts at that particular period were larger than deposits.

Evidently there had been a restriction on loans and discounts. The next two statements given are the lowest this bank reached in that period.

From this time on the First National began to forge ahead with a steady gait. The folio wings statements of deposits for a five year period will indicate the return of the community to a normal basis, and gradually lo a progressive, standard once more :

On July 16, 1902 the deposits had reached $787,601.34 and resources were $1,019,221.60, the million dollar milestone passed. A glance at the deposits and total resource items shown by the statements of this institution for the last five years will show by way of contrast the present commercial and financial status of Grand Island as compared to the close times of twenty to twenty-five years ago.

The bank of Doniphan was established May 3, 1886, but it will be taken up after the Grand Island banks have been treated together, as the first outside bank in Hall County.

The next banking institution in Grand Island, was the Bank of Commerce, incorporated April 1, 1887, with a capital stock of $50,000. T. P. Lanigan was elected president, J. D. Moore, vice-president, J. M. Marsh, cashier. Directors other than the officers just named who took an interest in this bank were F. B. Johnson, cashier of the Bank of Commerce of Omaha, who perhaps had a hand in passing on that name to this new institution, and E. L. Dodder, Sr. Mr. Lanigan, the first president of the bank, later moved to Greeley, Nebraska, where he has been a leading attorney for almost thirty years. J. D. Moore, who had formerly been agent for the Union Pacific Railroad company at Grand Island, was chosen president to succeed Mr. Lanigan, and he in turn was succeeded as president by E. L. Dodder, Sr. Oscar J. Smith became vice-president and J. D. Moore took the cashiership, when Mr. Dodder became president, and E. L. Dodder, Jr. served as assistant cashier. Judge F. B. Tiffany was one of the directors of the bank for a time. The board of directors in 1893-1894 were E. L. Dodder, Sr., J. D. Moore, D. K. Hull, H. W. Merriam, O. J. Smith, W. A. Prince, and D. C. Zink. The Scarff building, at 224 East Third, was the banking home of this institution during most of its career. At one time, about 1890, there were fifty-two stockholders in this bank comprising many of the city's best citizens. Its capitalization reached as high a mark as $150,000.

When the report of Receiver Wm. Anyan was made as to the affairs of the Bank of Commerce, after its failure, it showed the total liabilities to be $158,057.61, and $177,527.45 of

The Security National Bank

This bank was formed during 1889 as the Security State bank, and its first officers were : H. A. Pike, of Boston, Massachuesttts, president, F. W. Barber, vice-president and locally in charge of the president's duties, O. B. Thompson, cashier. They, with T. R. White, Jr., of New York, W. R. Bacon, Dr. P. Janss, and J. P. Zediker, were directors. Between that time and 1891 a complete change was made in the ownership and management of this bank, and before 1892 its name changed to Security National Bank. The latter set of officers and directors were: H. J. Palmer, president, E. C. Hockenberger, vice-president, A. S. Vest, son of Senator Vest of Missouri, cashier, and W. S. Dickason, assistant cashier. The directors were H. J. Palmer, A. S. Vest, E. C. Hockenberger, George Bartenbach and A. C. Murphy.

During the winter of 1889-1890 this banking company completed the five-story, stone front building on South Locust street, in recent years occupied by the Grand Island Business & Normal College and other business institutions, at a cost of approximately $50,000. This building in later years was purchased by A. M. Hargis at about 30% of its original cost.

In February, 1890, J. M. Marsh returned from a trip to Chicago, Omaha and Kansas City, where he had been making arrangements for selling bank stock for a proposed "American National Bank" which was to have been erected at Third and Locust, upon the location occupied by the Tucker & Brown drug store, but this institution did not materialize.

The Commercial State Bank

The Commercial State Bank of Grand Island was incorporated July 2, 1901, and began business July 15, 1901, with a capital stock of $30,000. The original incorporators were Benjamin F. Clayton, Harry B. Stewart, and Ellsworth D. Hamilton, who were, respectively, president, vice-president, and cashier, and also directors. On May 8, 1906, the capital of the bank was increased to $100,000, $80,000 paid up, and on April 10, 1911, the capital was paid up to the full $100,000.

On January 8, 1909, the interests of Clayton, Stewart and Hamilton were sold to Elmer Williams, M. Dowling, and H. P. Dowling, Elmer Williams coming from Fremont, Nebraska, and Harry P. Dowling, from O'Neill, Nebraska. On April 3, 1911, the DowHng interests were acquired by local people and the Bowlings purchased a majority of the stock of the Shelby County State Bank, of Harlan, Iowa. On September 1, 1917, the capital of the bank was increased to $150,000.

The different presidents of the Commercial State Bank since its organization were Benjamin F. Clayton and Elmer Williams. The different cashiers of the bank were Ellsworth D. Hamilton and Carl H. Menck. The first published statement of the bank was made on July 17, 1901, two days after opening for business as follows: Capital, $30,000, deposits, $3,250.93, total resources, $33,252.22. On September 30, 1901, its statements showed deposits, $10,891.95, resources, $41,314.67, and on March 15, 1902 its deposits were $85,723 and its resources had reached $117,046.

The Home Savings Bank

On December 11, 1909, the Home Savings Bank of Grand Island was organized with a capital of $15,000, with Elmer Williams as president, H. P. Dowling, treasurer, and C. H. Menck, secretary. The success of the Savings Bank was very marked and it continued in a prosperous condition. The business of the Savings Bank was conducted in the rooms of the Commercial State Bank and its growth was phenomenal and very successful; yet in order to facilitate the handling of the business and to lessen the cost of operation the assets of the Home Savings Bank were purchased by the Commercial State Savings Bank on September 1, 1917, and the business of the Home Savings Bank is being conducted as a savings department of the Commercial State Bank.

The present marble front building of the Commercial State Bank was erected and occupied by the Bank on December 18, 1910. The stock of the bank is nearly all owned by Grand Island and Hall County interests ; the number of stockholders is forty-four and its stockholders represent farmers, business men, professional men, and capitalists.

State Bank Oe Grand Island

For thirteen years after the organization of the Commercial State Bank, Grand Island had three banks, but in 1914 a sufficient number of local men, with outside capitalists named hereafter, thought there was room for a fourth bank in this city, and the State Bank of Grand

Island was organized. The original incorporators were Wm. H. Thompson, Theo. P. Boehm, D. W. Geiselman and Frank W. Sloan of Geneva, Nebraska, L. J. Dunn of the City National Bank at Lincoln, A. C. Denman, Kenneth McDonald, S. M. Sonderup, V. E. Evans, Pat Fagan, and M. M. Klinge. The original board of directors chosen were, W. H. Thompson, president, Theo. Boehm, vicepresident, and D. W. Geiselman, cashier, with L. T. Geer, S. M. Sonderup, V. E. Evans and Dana C. Geiselman, the latter then county attorney at Geneva, Nebraska.

In January, 1918, L. J. Dunn, Frank J. Cleary and J. L. Cleary bought out the Geiselman interests in the bank and those three became directors, with V. E. Evans, S. M. Sonderup, W. H. Thompson and M. M. Klinge. The board in 1919 remains the same except that Aug. Buchfinch succeeded M. M. Klinge. L. J. Dunn, vice-president of the City National Bank of Lincoln and director in the First National Bank at Hastings, became the second president of the State Bank of Grand Island, V. E. Evans, president of Glass & Evans Co. of this city became vicepresident, Frank J. Cleary became the second cashier, with A. A. Roeser as assistant cashier. The paid in capital stock of the bank is $50,000. The value of the banking house, furniture and fixtures has increased from $3,204.91 in 1915 to $7,500 in November, 1918. An examination of the principal items of three statements of the bank will show its growth :

Nebraska State Bank

In 1917 a fifth bank was organized for Grand Island when the Nebraska State Bank was incorporated by A. E. Cady, Sr., A. J. Guendel, Judge J. R. Hanna, A. E. Cady, Jr., and Benj. Cunningham. The officers were A. E. Cady, Sr., president, A. J. Guendel, vice-president and cashier, A. E. Cady, Jr., vice-president, O. A. Vieregg, assistant cashier. Judge J. R. Hanna, director, and Benj. J. Cunningham, attorney and director. Mr. Cady, Sr., served as president until his death, after which Judge J. R. Hanna was elected president. The main facts shown in the first statement of this bank, issued May 7, 1917, were:

This contrasted with the statement of May 3, 1919, two years later shows the remarkable growth of this bank. The deposits on May 3, 1919, two years later, were $687, 853, and on July 31, $762,768.

Peoples State Bank

If the plans for the organization of the proposed American State Bank in 1890 had materialized, Grand Island would have had six banks years ago. But as it was, this goal was never reached until June, 1919. The opening of a bank on the north side had been discussed for two or three years, a number of men prominent in north side affairs being urgently in favor of it. The war interfered with any such plans until recently. At the second meeting held for the discussion of this proposition, forty-three men were present, some of them having business houses on the north side and some doing business on the south side but living on the north side, and others being farmers living around the northern fringe of the city. As a starter the capital was fixed at $65,000 and A. J. Baumann, assistant postmaster and Attorney A. J. Joseph took an active part in getting the stock subscribed. The location selected was a rooin in the Central Power Co. building at Fourth and Pine streets, which has been remodeled to make a very attractive and convenient; banking room. The stock has been divided among a considerable number of stockholders, and the manner in which the bank has made its initial start gives satisfactory evidence to the hope that Grand Island has outgrown north-and-south division feeling or business rivalries of more than a friendly nature. The board of directors chosen are John Knickrehm, J. D. Harrison, John Knickrehm, J:\, John E. Mader, August C. Menck, Albert J. Niemoth, and Franklin Tully, selected from the following list of incorporators: J. H. Harrison, J. D. Harrison, A. C. Menck, Homer Bowen, John Knickrehm, Sr., John Knickrehm, Jr., Wm. F. Krehmke, Louis E. Upperman, Franklin Tully, A. L. Joseph, J. E. Mader and Albert J. Niemoth. The first officers chosen were John Knickrehm, Sr., president, J. D. Harrison, vice-president, J. H. Harrison, cashier, Leo G. Shehein, assistant cashier, and A. L. Joseph, attorney. J. H. Harrison had recently resigned as cashier of the State Bank of Ravenna, and accepted the cashiership of this new bank and helped it start out, but in June, 1919, after a few weeks service, resigned to form a connection as cashier with a third bank being established at Ravenna, and Assistant Cashier Shehein was promoted to the cashiership, and Carl Knickrehm selected as assistant cashier, and a short time thereafter Judge E. G. Kroger was elected Vice-President and became active in the bank management. On August 27, 1919, the bank carried loans and discounts of $120,- 755.17; deposits, $99,527.63; total resources, $159,677.48, on a capital of $50,000.

Thereupon S. N. Wolbach became president for a period. During all of this time John Schwynn had been cashier of the bank. For a time before his death John Schwynn was cashier of the bank, S. N. Wolbach vicepresident, in which office he had been serving since the establishment of the institution except for a period he was president. After Mr. Schwynn's death, Mr. Wolbach again became president, and is still serving in that capacity. Judge Bayard H. Paine who succeeded Mr. Wolbach as vice-president of the bank, is now in that office.

H. E. Funk upon the disposal of Mr. Burger's stock purchased an interest in the bank, was elected a director and assistant cashier, and later on succeeded Mr. Schwynn as cashier. Mr. Funk a few years ago disposed of his stock whereupon C. M. Carlson of Dannebrog, Nebraska, was elected cashier and George E. Funk, assistant cashier. During 1918, George E. Funk was called into service, and resigned as assistant cashier, and Miss Alma Gideon is now acting in that capacity. The present directors of the bank are S. N. Wolbach, president. Bayard H. Paine, vicepresident, C. M. Carlson, cashier, and Emil Wolbach. Among the other stockholders are Wm. E. Martin and Karl Hoppold.

Several years ago this bank outgrew its quarters in the brick building erected in 1888, and moved into a fine, commodious banking home built for its use.

The Bank Of Doniphan

The Bank of Doniphan was established May 3, 1886, with W. J. Burger president and John Schwynn cashier. S. N. Wolbach, C. F. Bentley, W. J. Burger and John Schwynn were the stockholders. Mr. Burger continued as president until he sold his stock, whereupon C. F. Bentley became president of the institution and served until his death in 1908.

Commercial Exchange Bank, Of Doniphan

Doniphan remained with one bank for twenty-five years, when in November, 1911, the Commercial Exchange Bank started in busniess. This bank opened with H. A. Redman, president, L. J. Berg, vice-president, and C. M. Redman, cashier. J. J. Mohlman succeeded Mr. Berg as vice-president, and in 1917 he sold his stock to Merle Eggert, who became vice-president. The president and cashier have remained the same throughout the career of this institution. The first directors were H. A. Redman, L. J. Berg, J. J. Mohlman, C. M. Redman and Mrs. Berta Siebert. Albert Redman became a director in 1919. This bank occupies a very substantial and convenient banking home which it erected for that purpose.

Citizens State Bank, Wood River

The Citizens State Bank of Wood River, Nebraska, was incorporated August 20, 1891, by W. L. May, George R. Voss, James Jackson, W. W. Mitchell, T. J. Smout, Jerry Bowen, G. W. Miller, W. L. Sprague, S. E. Smith and M. J. Costello, with an authorized capital stock of $25,000 and a paid up capital of $14,500.

In 1915 the board of directors was reduced from seven to five and W. W. Mitchell, Patrick Hoye, Fred J. Miller, F. M. Hollister, and W. L. Sprague were elected and also constitute the present board.

In April, 1892, interested persons bought a controlling interest in the stock from W. L. May and George R. Voss and sought to close the bank. The minority stockholders checkmated this move by subscribing for more stock, increasing the paid up capital stock to $23,000, of which they held $15,500 against $5,500 under adverse control.

The First National Bank Of Wood River

In addition to the members of the first board of directors and the present board, the following have served on the board of directors at different periods : D. Barrick, Peter Holling, Wm. Dubbs, James Gififord, H. D. Trout.

the original stockholders but one name appears on the present list, that of Mr. Wiese, although the Eaton and Gififord stock is represented by their heirs as present holders. Since the bank was organized, more than thirty years ago, Mr. Wiese has served most efficiently and conscientiously as one of its directors, a rather remarkable record of faithful service which has been of inestimable value to the bank and which is held in highest appreciation by the officers and stockholders of the institution.

Mr. Slusser entered the service of the bank as bookkeeper in November, 1889, since which time his connection, as employee, stockholder or officer has been continuous.

Cairo Banks

Cairo has two successful and enterprising banks. The older of these is the Cairo State Bank. This bank was organized August 26, 1902, with a capital of $5,000 with the following as officers and directors: C. F. Bentley, president, J. H. Harrison, cashier, S. N. Wolbach, S. D. Ross, directors.

On October 10, 1907, J. H. Harrison, cashier, tendered his resignation, he selling fifteen shares of his stock to Geo. W. Wingert and fifteen shares to Elliott Harrison. Geo. W. Wingert was elected cashier to fill vacancy, and Elliott Harrison was elected assistant cashier.

On November 6, 1908, S. N. Wolbach was elected president to fill the vacancy caused by the death of C. F. Bentley, S. D. Ross resigned as member of the board of directors, having sold his shares to Bayard H. Paine. Elliott Harrison and Bayard H. Paine were elected directors.

On May 7, 1909, by authority from the state banking board, the capital was increased to $25,000, with $15,000 paid up. J. E. Cox having acquired stock was elected director.

On January 12, 1910, J. E. Cox was elected vice-president and Wm. Stoeger having acquired stock was elected director, the stock of the late Charles F. Bentley was transferred imder the estate to Grace B. Paine, Ira T. Paine and Fred J. Bentley.

On January 11, 1911, the capital stock was increased to $16,000, the additional shares being sold to Dell Thompson who was then elected a director.

As criterion of the growth of the Cairo State Bank, a comparison of the statements of this bank, made on November 25, 1902, and January 28, 1919, shows that the capital stock paid in has increased from $5,000 to $16,000; furniture and fixtures (banking house in latter), from $595 to $5,300; loans and discounts from $7,271.22 to $167,587.65; deposits from $14,715.47 to $257,298.36, and total resources from $20,025.33 to $279,536.41. This bank occupies a very substantial and well arranged banking home.

Farmers State Bank Of Cairo

The second bank for Cairo was organized in 1910, starting business as the Farmers State Bank of Cairo, on September 24, with C. C. Hansen, president, W. C. Robinson, vice- president and G. C. Raven, cashier. There has been very little change in the personnel of the directors or ofificers during its existence. The president and cashier are the same as when first organized. Mr. Robinson, now deceased, was succeeded by Fred Voss as vicepresident. The present board of directors is composed of C. C. Hansen, T. J. Hansen, Fred W. Ashton, Philip Stoeger, W. L. Heupel, Fred Voss and G. C. Raven. While the control of the stock has rested with Mr.

Hansen at Grand Island, the bank has been managed by Cairo folks, Cairo having always had five of the seven members of the board until this last meeting. While T. H. Sorenson, assistant cashier was absent with the armed forces abroad and pushing Germans back into Germany his place was filled by Mrs. Raven, until he returned.

The first depositor of the bank was, as we knew him then, "little" Johnny Pedley, now a member of the marine corps and from his last picture seen here no longer little Johnny but John. The bank has made a substantial growth and been successful from a dividendpaying standpoint and from its record of service to the community. Its growth can be judged from a comparison of its standing in 1910 and 1919, during which time its loans and discounts grew from none to $153,175; deposits increased from none to $195,206; and total resources grew from none to $230,911.75.

The Alda State Bank was organized August 30, 1909, by its present officers and directors : Dr. P. C. Kelley, president, Bayard H. Paine, vice-president, John Thomssen, cashier, Fred Thomssen, assistant cashier, who constitute the board of directors, with O. A. Abbott, Jr., as the fifth member.

The bank has a neat little banking home situated at the intersection of the two main streets of Alda, and has progressed along steadily with a fairly uneventful career, except for its steady growth. It has $12,000 capital, and carries its banking house, fixtures, etc., at $3,333.00. Between November 16, 1909, and November 1, 1918, its loans and discounts have grown from $5,171.15 to $134,856.92; its deposits from $7,231.76 to $161,914.49; and its statement of total resources had increased from $17,288.04 to $187,187.92. The rate of progress of this bank can be somewhat gauged by its deposits in November of each year:

Farmers State Bank

Alda's second bank was organized December 24, 1917, and opened January 25, 1918, with C. A. Ellis, president, J. S. Denman, Frank Denman, Benj. J. Cunningham, attorney, W. L. Kelley, cashier, and Geo. Dawson, vice-president, as the officers and directors. This bank sustained a fire September 6, 1918, which necessitated its removing to temporary and cramped quarters in the corner of a garage, until the completion of its own splendidly appointed building. On July 31, 1919, this bank was carrj'ing $15,000 capital; $43,755 in loans and discounts; $47,367.99 deposits ; and total resources of $65,448.80.

Building And Loan Association

Steps were taken rather early in the historj' of the community to provide means for the building of homes in the city, upon the liberal plan provided for by the building and loan laws of Nebraska. The first meeting of the Grand Island Building and Loan Association was held at the office of Jay S. White, August 29, 1891. At this meeting a committee was appointed to draft a constitution for the association, which was adopted. The If it regular meeting was held January 9, 1882, when the following officers and board of directors were elected : J. D. Moore, president ; B. C. Howard, vice-president ; J. E. White, secretary ; M. Murphy, treasurer; M. J. Gahan, L. M. Bryan,

C. L. Howell, D. Ackemian, William Anyan, H. L. McMeans and Frank Guenther, directors. The original members were L. M. Bryan, S. W. Smith, M. J. Gahan, B. C. Howard, Frank Sears, Clara A. Sears, A. A. Sawyer, A.

The Equitable Building And Loan Association

In 1890 the officers of the "Grand Island" Association feeling that their experience of the first eight years had taught them a better plan than the one then in use, changed the name of the association to "The Equitable" and adopted a new plan whereby shares were issued semi-annually in series but the money went into one common fund for loaning purposes and the net profits were distributed semi-annually to the various series. On January 1, 1912, another new plan in accordance with the most modern methods of operation for large associations was worked into the methods of the Equitable. In 1893 the officers of the association were: Blake C. Howard, president, James Cleary, vice-president, Henry A. Koenig, treasurer, C. W. Brininger, secretary. Mr. Brininger succeeded S. D. Ross as secretary in 1890, and has been secretary of the Equitable during the entire twenty-nine years of its existence under that name. The directors in 1892 and 1893 were A. C. Lederman, D. Ackerman, C. B. Handy, G. H. Geddes, H. L. McMeans, H. C. Miller and Jas.

F. Rourke. In 1894 the directorate was Lederman, Ackerman, McMeans, Miller and Henry Mayer, S. E. Sinke, R. J. Barr, and L. T. Geer. In 1895 D. Ackerman succeeded Jas. Cleary as vice-president, and Chas. G. Ryan took his place on the board of directors. C. F; Bentley became treasurer of the Association in 1894 and remained in that capacity until his death, July 15, 1908. In 1896, the board of directors was listed as follows : A. C. Lederman, H. C. Miller, H. L. McMeans, Chas G. Ryan, L. T. Geer, B. C. Howard, D. Ackerman, S. E. Sinke, C. F. Bentley, Robert J. Barr and C. W. Brininger. In 1897, A. C. Lederman succeeded D. Ackerman as vice-president and Richard Goehring took his place upon the board. On March 14, 1900, Blake C. Howard died. Mr. Howard had served, with the exception of one term continuously since 1883 as president of the Association, under both its titles. He saw the company grow from a small incorporation with four hundred shares in 1883 to the third largest in the state at the time of his death. Louis Veit succeeded Mr. Howard as president. R. R. Horth came onto the board at this time. R. C. Glanville was title-examiner during this period.

The next changes were in 1903, when Charles G. Ryan became vice-president. The board at this time was, Louis Veit, president, C. G. Ryan, vice-president, C. W. Brininger, secretary, C. F. Bentley, treasurer, S. E. Sinke, H. C. Miller, R. R. Horth, Richard Goehring, L. T. Geer, C. B. Norris, R. J. Barr, and J. H. Woolley, title examiner.

In the report of the Equitable made in 1907 the secretary pointed out the accomplishments of the association during its first twenty-five years, from 1882 to 1907 :

The officers of the association remained the same until in 1908 came two very sad breaks. Charles F. Bentley died July 15, 1908. In addition to the interest he had displayed in the local association as treasurer and director, Mr. Bentley had served in 1907 as president of the National Association of Building and Loan Companies and he had been one of the very earliest of Nebraska financiers to see the necessity of protecting the small borrower and investor from the greed and unsafe methods of many so-called national concerns that had sprang up around the country. He had framed many of the building and loan laws of the state, and the Nebraska State League of Building and Loan Associations has commemorated this service by the beautiful memorial tablet and rest bench they have placed in the lobby of the elegant new building which the Equitable Association added a few years ago to the show places of Grand Island. In the same year death also claimed Louis Veit, who had served as president of the organization since the death of President Howard in 1900. During that same year, however, the local secretary, Mr. Brininger, had been honored with the presidency of the Nebraska State League of Building and Loan Associations. In 1909 Charles C. Ryan was elected president, Richard Goehring, vice-president, S. N. Wolbach, treasurer, and August Kruse came onto the board of directors. In 1914 the death of Dr. H. C. Miller, after twenty-two years of service upon the board, left a vacancy which was filled by the election of Guy L. Harrison. In 1918 Aug. J. Baumann succeeded C. B. Norris, whose death occured on June 25, 1917, after fifteen years of service on the Board. The present officers, in the 37th year of the Association's history are: Charles G. Ryan, president, Richard Goehring, vice-president, S. N. Wolbach, treasurer, C. W. Brininger, secretary, John A. Fergusen, assistant secretary and the term of service of the older directors, except Guy L. Harrison and Aug. Baumann, the recent members, are Brininger, thirty years, Geer, twenty-six years, R. J. Barr, twenty-five years, S. E. Sinke, twenty-five years, C. G. Ryan, twenty-four years, R. Goehring, twenty-two years, R. R. Horth, nineteen years, S. N. Wolbach, eleven years, 3nd Aug. Kruse, ten years. For a board which meets each week with but nominal pay this is an unusual record of service for even a mutual business organization. The association has grown from a showing of assets in 1882, $15,- 485.20; 1892, $89,743.92; 1897, $155,871.31; 1902, $255,626.46; 1907, $406,446.84; 1912, $762,217.42; 1919, $1,016,481.09.

Grand Island had a second very active , Building and Loan Association for a number of years. The People's Building and Loan Asciation was organized in June, 1885, with W. R. McAllister, J. G. Raine, J. H. Mullin, J. H. Withers, W. H. Thompson, E. W. McAllister, W. T. Chapin, J. C. Pederson and Geo. E. Winn, as directors. In 1887 John G. Raine was president, C. F. Bentley, treasurer and J. R. Thompson, secretary. The institution was running at 119 West Third. In 1892 the officers were J. H. Mullin, president. Dr. H. C. Miller, vice-president, John R. Thompson, secretary, and C. F. Bentley, treasurer. It continued in operation until the middle 'nineties.

This concern was incorporated April 18, 1887, with H. A. Koenig, A. H. Baker, C. A. VonWasmer, O. B. Thompson, William Hagge, O. A. Abbott, and Gustav.e Koehler, stockholders. The stock was placed at $250,- 000. This concern dealt mostly in real estate and public utilities and wound up its affairs during the business depression of 1894 and 1895.

American Investment Company

This was a very ambitious corporation, The American Investment Company of New Hampshire. Its home offices were at Emmettsburg, Iowa, and it had district offices at Manchester, England, ISO Nassau street. New York city, Huron, South Dakota, Kansas City, Missouri, Walla Walla, Washington Territory, and Grand Island, Nebraska. In 1887 E. S. Ormsby was president, W. L. Telford, secretary and W. P. Coolbaugh local manager. In 1890 R. C. Glanville was the local manager for this company.

Wood River Building And Loan Association

The Wood River Building and Loan Association, temporarily organized in June, 1889, wes permanently organized January 1, 1890, with F. M. Penny, president, W. W. Mitchell, vice-president, W. L. Sprague, secretary, and Edward Baldwin, treasurer. The directors were F. M. Penny, W. W. Mitchell, R. Wescoatt, George H. Howard, John R. Jewett, Henry Kuntz, William Thorp, J. Smoot and A. L. Johnson. M. J. Costello was early attorney for the association.

Other Early Financial Institutions

There were numerous financial institutions, other than those heretofore mentioned, which were flourishing locally or represented by energetic and. enterprising agents here. Most of these disappeared or moved away during the stringent period of the middle 'nineties. Some of these institutions or concerns were:

The Home Building and Savings Association located here in 1893 with John ' W. West, president, B. S. Moore, vice-president, E. C. Hockenberger, treasurer and L. M. Bryan, secretary.

The Union Investment Company, The National Building, Loan and Protective Union, Anglo-American Loan and Trust Co. (D. C. Zink agent in 1890), all did a large business here in the late 'eighties. About 1890 H. E. Clifford, Dill & Huston, Thummel & Piatt, Dings & Reaugh, Charles Rief, Thompson Brothers, T. A. Hathaway, Frank & Williams, W. S. Hayman, L. J. Traynor, W. A. Whitney, C. H. Bailey, and others were then engaged in the money-loaning business or agencies.

Grand Island Loan & Trust Company

In the past quarter-century a very potent factor in the financial world has developed in the modern trust company. In Nebraska the wonderful growth of the Peters Trust Co. and Lincoln Safe Deposit & Trust Co. of Lincoln have pointed the way to what can be accomplished by such an institution in this state. So on Nevember 15, 1917, the officers and some stock-holders of the Grand Island National Bank, and some business associates who agreed with their plans, organized the Grand Island Loan & Trust Co. The first officers of this concern were C. C. Hansen, president, George H. Thomas, vice-president, T. J. Hansen, secretary, W. H. Luers, treasurer, C. E. Grundy, assistant secretary, and Wm. Suhr, attorney. Recently C. J. Miles has become president and C. E. Grundy secretary.

and powers of a trust company as executor, co-executor, guardian, trustee in estate and other property matters. It specializes in making and selling farm loans^ and has recently extended its department for brokerage of mortgage bonds, to the marketing of certain reliable issues of stocks. One of the first of such stocks this firm has undertaken to offer to the| local; and central Nebraska market is an issue of the Fairmont Creamery Co., the second largest creamery concern in the world. This concern will undoubtedly grow and open a field which it will develop along with future concerns that feel the field here is large and important enough to develop further.

Nebraska Loan & Trust Co

A new financial institution organized in July, 1919, is the Nebraska Loan & Trust company formed with the following incorporators : James R. Hanna, Addison E. Cady, A. J. Guendel. B. J. Cunningham, and E. R. Guendel. The principal place of business is Grand Island. The company will do a general loan and trust business. The capitalization is $100,000, with $50,000 paid up. The term of incorporation is fifty years. The president is J. R. Hanna, while A. E. Cady is vice president and secretary, A. J. Guendel is treasurer, and B. J. Cunningham is attorney. The directors are Hanna, Cady, E. R. Guendel, A. J. Guendel, R. D. Kingsbury, Herman W. A. Hehnke and B. J. Cunningham. The offices are in the Nebraska State bank and business already has begun. Mr. Cady states the reason for organization is the heavy demand for real estate loans and other business which was in excess of the ability to handle.