South Omaha National Bank, South Omaha, NE (Charter 3611)

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Advertisement from March 1887
Advertisement from March 1887 for the South Omaha National Bank at the Union Stock Yards, South Omaha, Nebraska.[1]

South Omaha National Bank, South Omaha, NE (Chartered 1886 - Liquidated 1911)

Town History

South Omaha, located in Douglas County, is a former city and current district of Omaha, Nebraska. During its initial development phase, the town's nickname was "The Magic City" because of the seemingly overnight growth due to the rapid development of the Union Stockyards. Annexed by the City of Omaha in 1915, the community has numerous historical landmarks; many are within the South Omaha Main Street Historic District. The traditional borders of South Omaha included Vinton Street to the north, Harrison Street to the south, the Missouri River to the east, and 42nd Street to the west.

The area that would become South Omaha was rural until the early 1880s when cattle baron Alexander Hamilton Swan decided to establish a stockyards operation just south of Omaha. The South Omaha plat was registered on July 18, 1884. Two years later, South Omaha was incorporated as a city. By 1890, the city had grown to 8,000 people, a rate of growth that earned it the nickname "The Magic City".

In less than 10 years, South Omaha had developed as a regional stockyards and meatpacking center. Its industrial jobs did not require high-level language skills, so it drew thousands of immigrant workers, mostly from eastern and southern Europe. This area of the city showed ethnic succession as different waves of immigrants established certain territories as their own during their first settlement.

South Omaha had five National Banks chartered during the Bank Note Era, and all five of those banks issued National Bank Notes.

Bank History

On December 27, 1886, Valentine P. Snyder, deputy and acting comptroller of the currency, authorized the South Omaha National Bank to commence business.[2] The new bank applied for its charter under the title of "The Union Stock Yards National Bank," but changed its name to "The South Omaha National Bank" due to the similarity of the first proposed name to that of the Union Stock Yards Bank located in the Exchange building.[3] 

At the close of 1886, the Omaha Clearing House reported on the two new banks established in South Omaha in December. The Union Stock Yards Bank had a capital of $200,000, with John A. McShane as president and E.B. Branch, cashier. The South Omaha National Bank had capital of $50,000 with A.U. Wyman as president. The cashier had yet to be selected. In Omaha there were seven national banks with capital considerably over $7 million.[4]

On January 1, 1887, the South Omaha National Bank was established and was ready for business. A.U. Wyman was president, and J.J. Brown vice president.[5] In March 1887, the bank listed its directors as J.H. Millard, A.U. Wyman, Guy C. Barton, U.W. Wells, and J.J. Brown. The officers were A.U. Wyman, president; N.W. Wells, vice president; and H.C. Bostwick, cashier.[6] C. Akofer was located in the basement of the Pivonka block under the South Omaha National Bank offering meat at the lowest prices.[7]

In May 1890, the directors were J.H. Millard, A.U. Wyman, Hy H. Meday, C.W. Thomas, Guy C. Barton, N.W. Wells, and Truman Buck. The officers were A.U. Wyman, president; N.W. Wells, vice president; and H.C. Bostwick, cashier. The bank's capital was $75,000.[8] Mr. Wells was a new vice president of the First National Bank of Schyuler, Nebraska,[9] and operated the milling firm of Wells & Nieman of that place.[10] At the end of 1890, the South Omaha National Bank had capital of $100,000. Early in the year the bank moved into its fine new building on N Street between Twenty-fifth and Twenty-sixth Streets. The officers were J.H. Millard, president; Truman Buck, vice president; and H.C. Bostwick, cashier. The board of directors consisted of Messrs. J.H. Millard, Charles H. Brown, Truman Buck, James Viles, Jr., Guy C. Barton, Hy H. Meday, and C.W. Thomas. The deposits on January 1, 1887 were $28,107.03 increasing to $500,000 by January 1890. The bank paid a dividend of 5% every year since organized. The South Omaha Savings Bank, incorporated in April 1888 with a capital of $100,00, $12,000 paid in, had Truman Buck as president, C.W. Thomas, vice president; and H.C. Bostwick, cashier.[11]

In January 1892, the South Omaha National Bank had capital of $100,000 and a surplus of $45,000. James H. Millard was the president, Truman Buck, vice president; and H.C. Bostwick, cashier. The pioneer national bank at the Union stock yards gained great favor with the stockmen in just a short time. Stock yards collections received prompt attention and funds were disposed of as requested without loss of time.[12]

In November 1901, the directors were Guy C. Barton, president, Omaha & Grant Smelting Works; H.C. Bostwick, cashier; E.A. Cudahy, vice president, Cudahy Packing Co.; E.W. Nash, president, American Smelting & Refg. Co.; J.P. Lyman, president, G.H. Hammond Co.; T.W. Taliaferro, Gen. Manager, Cudahy Packing Co.; and Truman Buck. The officers were Guy C. Barton, president; E.A. Cudahy, vice president; H.C. Bostwick, cashier; and H.C. Miller, assistant cashier. The bank had capital of $200,000, and surplus & profits $185,000.[13]

In June 1903, Senator C.B. Anderson was elected vice president of the South Omaha National Bank and would move to that city August 1st.[14] Mr. Anderson was for a while with the Omaha National Bank and in September had moved his family to Omaha from Crete where he had been a prominent figure in business and political circles for years.[15]

On Tuesday, January 10, 1905, at the annual meeting of stockholders, T.W. Taliaferro was replaced by Edgar M. Morsman, Jr. of Omaha as a directors. The officers elected were Guy C. Barton, president; E.A. Cudahy, Truman Buck, and H.C. Bostwick, vice presidents; H.C. Bostwick was vice president and cashier and Harry Miller, assistant cashier. The directors were Guy C. Barton, E.A. Cudahy, H.C. Bostwick, E.W. Nash, Edgar M. Morsman, James D. Standish, J.P. Lyman, and C.B. Anderson.[16]

On Tuesday, January 8, 1907, at the annual meeting of the stockholders, officers elected were: H.C. Bostwick, president; Truman Buck, vice president; E.A. Cudahy, vice president; John C. French, cashier; H.C. Miller, John S. King, and James Bowen, assistant cashiers. The directors were H.C. Bostwick, Guy C. Barton, Truman Buck, E.A. Cudahy, J.P. Lyman, Edgar M. Morsman, Jr.; H.C. Miller, J.D. Standish, John C. French, and K.C. Barton.[17]

On January 1, 1911, a new bank, Stock Yards National Bank, South Omaha, NE, began with capital and surplus of $1 million. It succeeded to the business of the South Omaha National Bank and the Union Stock Yards National Bank, both of which ceased operations on the 1st after 25 years of faithful service. The sum of this valuable experience, the united efforts of all officers, and the combined resources of these good old banks were now offered by the Stock Yards National Bank to all friends and customers, old and new. The board of directors consisted of J. Ogden Amour, K.C. Barton, H.C. Bostwick, Truman Buck, E. Buckingham, E.A. Cudahy, C.F. Coffee, R.J. Dunham, E.F. Folda, J.C. French, Ora Haley, R.C. Howe, E.M. Morsman, Jr., J.D. Standish, and F.W. Clarke. The officers were H.C. Bostwick, president; E.F. Folda and F.W. Clarke, vice presidents; John C. French, cashier; H.C. Miller, Epes Cory, and J.B. Owen, assistant cashiers. J.S. King was assistant to the president.[18] This bank was backed by the combined capital of the Union Stock Yards Company and the Cudahy and Armour interests. The capital stock would be $750,000 with a surplus of $250,000. Deposits at the start would amount to about $7,000,000.[19]

Official Bank Title

1: The South Omaha National Bank, South Omaha, NE

Bank Note Types Issued

1882 Brown Back $5 bank note
1882 Brown Back $5 bank note with pen signatures of H.C. Bostwick, Cashier and J.H. Millard, President. Courtesy of Lyn Knight Auctions, www.lynknight.com
1902 Red Seal $20 bank note
1902 Red Seal $20 bank note with stamped signatures of J.C. French, Cashier and H.C. Bostwick, President. Courtesy of the NBNCensus.com

A total of $916,050 in National Bank Notes was issued by this bank between 1886 and 1911. This consisted of a total of 97,368 notes (97,368 large size and No small size notes).

This bank issued the following Types and Denominations of bank notes:

Series/Type Sheet/Denoms Serial#s Sheet Comments
1882 Brown Back 4x5 1 - 10025
1882 Brown Back 50-100 1 - 1806
1902 Red Seal 4x5 1 - 3830
1902 Red Seal 3x10-20 1 - 2468
1902 Date Back 4x5 1 - 3705
1902 Date Back 3x10-20 1 - 3411

Bank Presidents and Cashiers

Bank Presidents and Cashiers during the National Bank Note Era (1886 - 1911):

Presidents:

Cashiers:

Other Known Bank Note Signers

Bank Note History Links

Sources

  • South Omaha, NE, on Wikipedia
  • Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
  • Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
  • Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
  1. ↑ South Omaha Daily Stockman, Omaha, NE, Thu., Mar. 10, 1887.
  2. ↑ South Omaha Daily Stockman, Omaha, NE, Mon., Jan. 3, 1887.
  3. ↑ South Omaha Daily Stockman, Omaha, NE, Tue., Dec. 21, 1886.
  4. ↑ Omaha Daily World-Herald, Omaha, NE, Fri., Dec. 31, 1886.
  5. ↑ Omaha Daily Bee, Omaha, NE, Sun., Jan. 2, 1887.
  6. ↑ South Omaha Daily Stockman, Omaha, NE, Thu., Mar. 10, 1887.
  7. ↑ South Omaha Daily Stockman, Omaha, NE, Thu., Mar. 17, 1887.
  8. ↑ South Omaha Daily Stockman, Omaha, NE, Tue., May 27, 1890.
  9. ↑ The Schuyler Sun, Schuyler, NE, Thu., May 29, 1890.
  10. ↑ Columbus Daily Telegram, Columbus, NE, Wed., Jan. 21, 1891.
  11. ↑ Omaha Daily Bee, Omaha, NE, Thu., Jan. 1, 1891.
  12. ↑ Omaha World-Herald, Omaha, NE, Fri., Jan. 1, 1892.
  13. ↑ The Daily Times, Omaha, NE, Tue., Nov. 12, 1901.
  14. ↑ The Wilber Republican, Wilber, NE, Fri., June 5, 1903.
  15. ↑ The Excelsior, Omaha, NE, Sat., Sep. 26, 1903.
  16. ↑ The Omaha Evening Bee, Omaha, NE, Wed., Jan. 11, 1905.
  17. ↑ Omaha Daily Bee, Omaha, NE, Wed., Jan. 9, 1907.
  18. ↑ Omaha Daily Bee, Omaha, NE, Sun., Jan. 1, 1911.
  19. ↑ Omaha World-Herald, Omaha, NE, Wed., Dec. 28, 1910.
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