by bringing into the organization a large number of shareholders.
Although frequently solicited to enlarge their capital and to dis-
tribute the stock among the public, they have uniformly and per-
sistently declined, preferring to keep the business of the bank
within their own control, and thus avoid heavy taxation and large
expenses.
Joseph O. Rutter, president of the Traders' Bank, is the
representative of the oldest and one of the most- conservative and
substantial financial institutions in Chicago. He is a native of
Philadelphia, born November 2,ÂĞi836, and is the son of David and
Esther (Ryerson) Rutter. On his father's side he is descended
from the Rutters who came to the State with William Penn, one of
them, Thomas Rutter, being governor of Germantown There,
and in that vicinity, for over two centuries, they have lived and
died, engaging principally in the manufacture of iron. One of
them opened the first iron mine in the State, establishing furnaces,
etc. Others established furnaces and manufactories; and in that
region a " Benjamin Franklin stove " is still in active use, which
%vas turned out by Rutter & Potts (a son-in-law) some one hundred
and twenty-five years ago. It is stated that Mr Rutter is descended
on his mother's side from Sara Rapalje, the first white child born
in the province of New Netherlands. The silver tankard presented
by the governor to that pioneer infant is now in the possession of
Sara Rapalje Crandall, of Monticello, N. Y., a direct descendant
of Sara Rapalje, the babe who, in 1625, obtained the prize. There
is probably no older relic of provincial New York in existence.
Coming down to more modern days, it is learned that David Rut-
ter, the father of Joseph O., was a physician of many years' prac-
tice in Philadelphia. In 1849, when his son was only thirteen
years of age, he removed his family to Chicago. Here the youth
supplemented his primary education in the East by an attendance
at various private schools in this city, until, in 1S51, he obtained a
situation as messenger-boy with George Smith & Co., bankers.
After remaining for some years with that institution, and rapidly
advancing his prospects in life he removed to Peru, III , and there
connected himself with the banking-house of which Mr. Smith was
a partner. He next settled at Galena, 111., as confidential clerk and
manager of the banking house of James Carter & Co. Returning
to Chicago, he associated himself with the parent house, in a lead-
ing position, being paying teller. He remained with Smith &
Co., until their final withdrawal from business. In 1863, F. I '..
Adams, who had been at the head of a private bank since 1S52, re-
moved to New York, and left T. I'. Tallman to manage his affairs
in Chicago. The charter of the Traders' Bank was then obtained,
In 1S64, Mr. Rutter, who, since the withdrawal of Smith >\ Co.,
had occupied a leading position as a banker, united his business
with that of the Traders' Bank, and assumed the vice-presidency
of the consolidated house, Mr. Adams remaining at its head.
These continued the officers until the organization of the Traders'
National Bank, when Mr. Rutter became its president. Mr. Rut-
ter's career since then, with that of Mr. Tallman. is the history of
the Traders' National Bank and the Traders' Bank. Before that
time, Mr. Rutter was a member of the firm of Rutter, Endicott &
Whitehouse, which occupied the banking room on the corner of
Lake and Clark street-., formerly the place of business of II. A.
Tucker & Co.
Thomas P. Tallman, one of the oldest and most respected
HISTORY OF CHICAGO.
bankers in the city, lias been a member of this profession for about
thirty-three years, and associated with Mr. Rutter in the manage-
ment of the Traders' Bank, for the past twenty-one. Mr. Tallman
was born in Ontario County N. V., October II, 1S31, his parents
being John and Carissa (Burt) Tallman. His father died when the
son was eight, and his mother when he was fourteen years of age.
After receiving his education, principally at the Genesee Wesleyan
Seminary, Lima. X. Y., in the fall of 1852, he came to Chicago.
He was in the employ of Potter Palmer for one and one-half years,
and finallv in March, 1S54, he entered the banking house of F. G.
Adams, as his first clerk and man-of-all-\vork. The business of
the concern was at first dealing in uncurrent money and land war-
rants, and Mr. Tallman's mercantile experience, added to his natu-
ral sagacity, made him peculiarly fitted to know the "false from
the true." The brokerage business gradually developed into a
general banking business. In 1S63, Mr. Tallman had so advanced
in his station and in the confidence of his employer, that he was
left to manage his interests in Chicago. For about a year, Mr.
Adams having removed to New York, the bank was conducted by
Messrs. Adams & Tallman. Since 1S64, as stated, Mr. Tallman
has been associated with Mr. Rutter, as cashier, in the manage-
ment of the Traders' Bank.
Producer's Bank. â No. 126 Lake Street. Capital, $200,000.
President, H. Doolittle; cashier, L. S. Beardsley.
Treasury Bank. â No. 68 Washington Street. President,
James H. Woodworth; vice-president, B. F. Hadduck.
Chicago Clearing House Association. â Charter procured
from the Legislature, and business commenced April 6, 1S65. First
officers: President, \V. F. Coolbaugh; vice-president, Josiah Lom-
bard. Clearing House committee: E. E. Braisted (chairman), E. I.
Tinkham. Ira Holmes, A. C. Badger, L. J. Gage (manager), and
George A. Ives. The total clearings and balances at the Clearing
House from April 6, the date of establishment, until December 23,
1S65, were â Clearings, $314,577,543; balances, $47,413,014.
[870 â President, Sol. A. Smith; vice-president, J. O. Rutter;
Clearing House committee: J. M. Adsit (chairman), E. I. Tink-
ham, L. J. Gage. M. D. Buchanan, John DeKoven (manager),
and George A. Ives. â˘
The Chicago Stock Exchange was organized in January,
1S65, by some twenty of the leading banking brokers and operators
of the city. Business was commenced January iS. in a small room
in H. H. Honore's building, No. 53 Dearborn Street. The offi-
cers for 1S65, were: President, John C. Hilton; vice-president,
Calvin T. Wheeler; secretary, Solon McElroy; treasurer, W. II.
Goodnow. Transactions at the Stock Exchange from January i3
to December 27, 1S65, aggregated $53,045,875.
At the close of 1865, the total capital of incorpor-
ated banks was $6,820,000; estimated capital of private
banks, $2,000,000 ; total, $8,820,000.
1866-67.
Union Stock-Yards National Bank. â Union Stock-Yards.
Cashier, John DeKoven. 1S71 â President. William F. Tucker;
vice-president, John R. Hoxie; cashier, Edward S. Stickney.
Capital stock paid in, $100,000.
1868-69.
Germanta Bank. â Chartered in 1869. President, Charles
Knobelsdorff; cashier, W. J. Haller.
National Loan and Trust Company. â Corner Washing-
ton and LaSalle streets. President, George C. Smith; cashier,
William A. Park; assistant cashier, J. J. McCarthy.
Merchants' Association Savings Bank.â Corner Clark
and South Water.
Hibernian Banking Association Savings Bank.â Char-
tered, 1868. Corner Clark and Lake Streets. President, J. V.
Clarke; first vice-president, K. 1'rindiville; second vice-president,
Thomas II. Beebe; cashier, Hamilton B. Dox. 1870 â Same as
above.
Chicago BUILDING and Loan Association. â No. 125 Dear-
born Street. Directors, B. II. Skinner, J. C. McMuIlen, S. E.
I'inta, \V. W. Boyington, Richard Edwards, G. C. Clarke, Oliver
II. Horti . George W. Sharpe.
Gki ' |;ank. â Chartered in i36q. President,
Henry Greenebaum; cashier, A. Wiser.
lri it Company.â No. 105-107 Mon-
roe Street. President, Benjamin Lombard; cashier, M. I). Til-
K.â No. 2 Clark Street. President, Ferd
S. Winslow ; cashier, William Winslow.
'Tin. Swedish Commercial Company Scandinavian
Ho. 140 LaSalle Street, President, <'. P. J. Arion; man-
ager, II. v Burger; cashier, A. Fogli
At the close of 1869, there were fourteen National
banks in the city, with an aggregate capital stock of
$5,900,000, and an available surplus of about $2,300,000.
Private banks, aggregate capital about $3,000,000.
1870-71.
National Bank of Commerce. â No. 107 Dearborn Street.
Organized in 1870. President, B. F. Hadduck ; vice-president, P.
C. Maynard ; cashier, E. Maynard.
Corn Exchange National Bank. â Chamber of Commerce.
President, Julian S. Rumsey; vice-president, S. A. Kent; cashier,
Orson Smith. December 12, 1S71, office No. 1, Lind's Block.
International Mutual Trust Company. â No. 51 LaSalle
Street. President, Francis A. Hoffman ; cashier, R. Schloesser.
Capital, $100,000.
Commercial Loan Company. â No. 44 North Clark Street.
President, J. T. Clarkson ; cashier, Frank Mayer.
International Mutual Trust Company. â No 147-149
Randolph Street. President, Berthold Lowenthal ; vice-president,
Julius Busch; cashier, Francis A. Hoffmann; assistant cashier, R
Schloesser.
The International Bank, formerly the International Mutual
Trust Company, was incorporated under the latter name, by special
RUINS, MARINE BANK.
act of the legislature, in 1867, and opened its doors for business in
the spring of the following year. The location then was at No. 51 La
Salle Street, and the first ofneersof the company were : F. A. Hoff-
man, president; Julius Rusch, vice-president, and Rudolph Schloes-
ser, cashier. In 1S70, the capital stock was increased from $100,000,
the original amount, to $200,000. Under the reorganization effected
at that time, B. Loewenthal became president, Julius Busch, vice-
president ; F. A. Hoffmann, cashier, and Rudolph Schloesser, as-
sistant cashier. A removal was then made to the northeast corner
of LaSalle and Madison streets, where it remained one year, when
the location was again changed, this time to the site of the present
Fidelity Trust Company's buildings, on Randolph Street, near La
Salle. Here it was burned out in the great fire of 1S71, being,
however, so fortunate as to save all their papers, books, securities,
money, etc., losing nothing except their office fixtures. Ten days
following I he lire they resumed business at No. 561 Wabash Ave-
nue, remaining at that location until in May, 1872, when they re-
moved to the old Boone Block, at No. 133 LaSalle Street. In the
spring of the following year they took possession of the building
they now occupy, al No. 108, on the same thoroughfare- In 1S74,
Mm capital slock of the bank was increased to $500,000, at which
amount it still remains. The present officers are B. Loewenthal,
president; II. A. Kohn, vice-president, and M Schweisthal, cashier.
BANKING HISTORY.
633
Berthold Loewenthal, the president of the bank, is a native
of Germany, born in 1830. He is the son of Joseph and of Jetta
(Ottenheimer) Loewenthal. His father was a merchant of Muhr-
ingen, in the Kingdom of Wurtemberg, and, aside from receiving
an excellent education, Berthold was also given a thorough business
training. In 1S50, he concluded to try his fortunes in the New
World, and accordingly, in that year, came to America, locating
first in Cincinnati." In 1S52, he removed to Rock Island, III ,
where he established himself in the mercantile line until 1863. In
that year he came to Chicago, which has since been his home, en-
gaging in merchandising until the fire of 1S71. In 1S70, however,
as has already been told, he became identified with the International
Mutual Trust Company, being elected its president, which execu-
tive office he held until its reorganization under its present form,
when he was again elected to the same position. Mr. Loewenthal
married, in 1861, Miss Nannie Kaufman, of Cincinnati, daughter
of Wolf Kaufman, of Eberstadt, in Baden, Germany. They have
had six children, three of whom are now living â Julia, Julius and
Joseph. The latter is the eldest son, and is completing his educa-
tion at the Polytechnic Institute of Boston, Mass.
Fidelity Savings Bank and Sake Depository.
Merchants' Savings Bank, No. 155 and 157 LaSalle Street.
President, Jacob R. Shipherd ; treasurer, Charles B. Shedd. De-
cember 12, 1871 : No. 164 Twenty-second Street.
Union Insurance and Trust Company, No. 37 West Mad-
ison Street. Branch, No. 336 Milwaukee Avenue. President, S.
W. Ravvson ; cashier, W. B. Howells.
At the opening of 1871, there were sixteen National
banks, having an aggregate capital stock of $6,550,000 ;
surplus and other undivided profits, $3,041,359; de-
posits, $16,774,514 ; outstanding circulation, $4,906,424.
Private banks had an aggregate capital of $3,000,000.
The returns from the Clearing House, for 1870, were â
Clearings, $810,676,036 ; balances, $80,910,416.
1871.
German National Bank. â Organized in January, 1871.
Capital, $250,000; authorized, $1,000,000. President, Henry
Greenebaum ; cashier, Herman Schaffner.
The Cook County National Bank. â Organized in August,
1S71. D. I). Spencer, president. Capital, $300,000. This bank
lost only its office furniture in the fire, its vaults remaining
unharmed.
Some other bankers and private banking institu-
tions, appearing in the various city and bankers' direc-
tories, are given below. The dates, however, are not to
be accepted as authoritative, but as testimony of their
existence during the year cited.
F. Granger Adams, No. 44 South Clark Street. 1852-63
James F. Adams. No 39 Clark Street, 1862.
James M. Adsit, No. 39 Clark Street, 1852-1871.
Aiken & Norton, No. 6 South Clark Street, Loomis Building,
1861; Room 1, Board of Trade Building, 1862.
L. E. Alexander & Co., South Clark and Lake streets; Ex-
change Bank Building, i860.
B. F. Carver & Co., i860.
Benjamin F. Downing, No. 63 South Clark Street, 1860-1862.
Albert S. Evans, No. 36 South Clark Street, i860.
Forrest Bros. & Co., No 32 South Clark Street. 1S60.
Granger, Weldon & Co. , Randolph, corner of South Market
Street, i860.
Greenebaum Bros., No. 40 LaSalle Street and 156 Lake Street,
1854-62.
Henry Greenebaum & Co., Nos. 156-58 Lake Street, 1S62-71.
Charles II. Ham & Co., No. 24 South Clark Street, i860.
Hoffman & Gelpecke, Nos. 44-46 South LaSalle Street, i860.
Jones & Patrick, No. 42 South Clark Street, 1S60-61.
Lull & Mayer, South Clark corner Washington Street, 1S60.
Moreford Bros., No. 2 South Clark Street, 1860-61.
Albert C. Oertal, No. 75 South Dearborn Street, 1S60-61.
Lucius D. Olmsted, South LaSalle and Lake streets, i860.
Bezaleel W. Phillips, No. 8 South Clark Street, 1860-61.
Benjamin F. Quimby & Co., No. 54 South Dearborn Street,
1860-61.
W. H. Rice & Co., No. 63 South Clark Street, 1S60-61.
Charles F. Rockwell, No. 44 South LaSalle Street, 1S60-61.
A. T. Sherman & Co., No. 3S South Clark Street, 1S60-61.
Lazarus Silverman, No. 50 LaSalle Street, 1860-69. Lazarus
Silverman & Co., corner LaSalle and Randolph streets, 1S70-71.
After fire, temporary location at No. 562 Wabash Avenue.
Strong & Wiler Bros,, No. 159 Randolph Street, 1S60-61.
(R. K.) Swift & (J. S.) Johnson, No. 60 LaSalle.
F. G. Saltonstall & Co., No. 24 Clark Street, i860.
Edward I. Tinkham & Co., No. 12S LaSalle. !â˘'.. I. Tinkham
banking since 1849 in Chicago. linn of E. I . Tinkham & Co.,
1855-63.
Hiram A. Tucker & Co., South Clark corner Lake Street, 1853.
Ulrichs & Geudtner, No. 6 (lark Street, 1S60-61.
White Bros., Randolph, corner South LaSalle Street, r86o-6l.
George C. Whitney. No. 38 South Clark Sireel, 1 -00-01
E. K. Willard iV Young, South Clark, corner of South Water
Street, 1860-61.
Wadsworth & Co., No. 66 South Clark Sunt. r86o 6l.
P. Woodward & Co., No. 80 South Dearborn Street, 1860-61.
William P. Wright & Co., No. 34 Clark Street, 1860-61.
Alpheus C. Badger & Co., Randolph, southeast corner of
Dearborn, 1S62-1871. A. C. & O. F. Badger, before the fire ol
1S71, No. 51 Dearborn Street. After the lire. No. 223 Michigan
Avenue.
C. B. Blair, Exchange Bank Building, 1S62-63.
James Boyd & Bro., No. 38 Clark Slreet, 1862-70.
Brotherkm & Nettleton, No. 47 Clark Street, [862-63.
Burkam & Sons, No. 17 Dearborn Street, 1S62-63.
Chapin, Wheeler & Co., Lake and LaSalle streets, 1S62-63.
Jacob G. Conrad, No 63 Clark Street, 1862-63.
Davenport, Ullman & Co., No. 32 Clark Street, 1862.
Ilarvev Doolittle, No. 40 Clark Street, 1S62-63.
J. W. Drexel & Co., 1862-63.
Solon McElroy, No 3S Clark Street, 1862.
Leopold Mayer, southeast corner of Clark and Washington
streets, 1862-64.
Leopold Mayer & Co., No. 63 Clark Street, 1S64-67. Leo-
pold Mayer & Steiner, No. 46 Clark; 1868-71. After the lire. No.
48 LaSalle.
Meadowcroft Brothers, No. 22 Clark Street, 1862-69. No. 13
Clark Street, 1869-71.
Benjamin P. Morris, No. 102 Washington Street, 1862.
C. L. Niehoff & Co., No. 131 Randolph Street, 1S62-63. No.
8 Clark Street, 1863-71.
C. C Parks & Co., southwest corner of Lake and Dearborn
streets, 1862-63.
William B. Rogers, No. 36 Dearborn Street, 1S62-63.
Rutter, Endicott & Whitehouse, Clark and Lake streets, 1S60.
Buxton & Co., northeast Clark and Lake streets, 1862-63.
John B. Campbell, No. 55 Clark Street, 1862-63.
J. Young Scammon, No. 156 Lake Street, 1S62-68.
Snydacker & Co., Nos. 60 and 57 LaSalle Street, 1S62-71.
Solomon Sturges & Sons, Nos. 15-17 Wells Street, 1862-63.
Solomon Sturges' Sons, No. I Chamber of Commerce. 1864-67.
S. Wadsworth & Co , No 34 Clark Street. 1S62-63.
Wiley Brothers & Co., No 157 Randolph Street, 1S62-63.
Willard & Kean, No. 1 Clark Street, 1S62.
Preston, Willard & Kean, 1S63.
Caryl Young, No. 2'/i Clark Street, 1S62.
Marc & Ilectel, 1863.
G. W. Woods & Co., 1863.
Claussenius, Canda & Schnitzler, No. 4 South Clark Street.
H. Claussenius & Co., successors, 1866-71.
Cushman, Hardin & Bro., No. 37 Clark Street, and Cushman
& Hardin, No. S7 Dearborn Street, 1866-71.
loseph M. Lyons & Co., No. 36 Clark Street, [866-69.
William H. Mallony, No. 34 South Clark Street, 1806-67.
Scripps, Preston & Kean, No. 47 (Ink Street, [866-67 '⢠suc-
cessors, Lunt, Preston & Kean, No. 47 Clark Street. Removed,
after the fire, to quarters in West Side Masonic Temple, corner of
Randolph and Halsted streets.
A. ( >. Slaughter, No. 36 Dearborn Street, 1S66-71.
George C. Smith & Bro., No. 42 South Clark Street, 1866-71;
No. 92 LaSalle Street, 1S71.
Tyler, Ullman & Co., corner South Clark and Lake streets,
1S66-68 ; successors. Wren, Ullman & Co., corner Dearborn and
Lake streets, at time of fire.
Winslow & Christiansen, No. 49 LaSalle Street.
C. Follansbee & Sen, No. 50 Dearborn Street, 1S66-71; cor-
ner Clark and Dearborn streets, October, 1871.
Greenebaum & Foreman, No. 42 Clark Street. 1S66-71.
( Iranville C. Hammond. Dearborn and Clark streets, 1866-67.
Collins & Ullman, No 34 Clark Street, 186S-71.
Ferdinand S. Winslow, No. 49 LaSalle Street, and No. 2
South Clark Street, 1868-71.
Wilkins & Winslow, corner Clark and lake streets, 186S-69.
Ogden, Sheldon & Scudder, No. 162 Lake Street. 1S71
facob R. Shipherd & I )o., No. I ^ 5â I 5 7 LaSalle Street I 869-71.
Wilkins & Stone. No. 32 Clark Street. 18(0 69.
M. P. Stone & Co., corner Washington and Dearborn streets,
1 S 70-7 1.
Louis Sapieha, Union Building, No. [46 Washington Street.
1869-70.
Charles Kozminski & Co., Marine Bank Building. Lake Street
634
HISTORY OF CHICAGO.
J. M. Adsit, the oldest banker in this city, and vice-president
of the Chicago National Bank, was born at Spencertown, Colum-
bia Co., X. Y., in the year 1S09. The date of his arrival in
Chicago was April 2, 1S3S, and he first established a private bank
at No, 37 Clark Street, in 1S50. Although he continued to follow
the career which he marked out so early, almost continuously for
thirty-five years, he was active in many public enterprises. Among
the institutions of former days in which he was much interested was
the Mechanics' Institute, of which he was the first vice-president. In
July, 1S56, Mr. Adsit removed his bank to No. 39 Clark Street,
where the great fire found him, and his early books and papers con-
nected with its affairs were lost. After the fire, he went to No. 422
Wabash Avenue, and established his business successively on
Wabash Avenue near Congress Street, and then in the Mason and
Ogden Buildings. His success was continuous, and he is to-day
among the substantial men of his profession in the city. In
January, 1SS2, Mr. Adsit became 'vice-president of the Chicago
National Bank, of which his son, J. M. Adsit, Jr., is the assistant
cashier. His other son, Charles C. Adsit, is connected with the
wholesale grocery establishment of Bannard, Lyman & Co.
Chandler & Co. â There has been established in Chicago for
many years a special branch of banking that pertains exclusively to
the buying and selling of real-estate mortgages, advancing money
thereon, investing deposits therein, and loaning the banks capital
on pledge of real estate only. The Mortgage Banking house of
Chandler & Co , was originally started in 1S5S by Peyton R. Chand-
ler, the senior member of the present house, who removed that year
from Vermont, where he had been engaged from early life in mer-
cantile pursuits and in promoting and managing the railroads of
the Connecticut Valley. His son Frank R. Chandler, now the
other member of the firm, came to Chicago in 1860, after two years
practical education in the Bank of Bellows Falls. He was for several
years with the old Marine Bank, with E. I. Tinkham's clearing
house for "Stump Tail" currency in War times, with Solomon
Sturges & Sons' bank, and the Third National Bank, all institutions
of this city long since defunct. The father was for many years
president of the Union Stock-Yard and Transit Company, and di-
rector in the Chicago and Alton Railroad Company and in the
Chamber of Commerce. The son was at one time secretary and
treasurer of the Chicago Dock Company. Coming to Chicago
after the crisis of 1S57, at a time when everything was depressed,
and after going through the greater crisis of 1S73 unscathed, their
views on real-estate values for money, loaning purposes have been
eminently conservative. Their clientage is among the Savings
Banks of New England and other wealthy corporations, including
private investors who hail from New York, Boston, London and
Paris. P. R. Chandler was born January 29, 1817, and F. R.
Chandler on October 2, 1840. They belong to the Illinois Asso-
ciation of the Sons of Vermont. F. R. Chandler married on Feb-
ruary 4. 1S6S, Anna S., daughter of Benjamin H. Buckingham, son
of Alvah Buckingham, who built and owned the first grain elevator
in Chicago. At this writing (18S5) the latest generation of this
Chandler family is represented by Alphonse Buckingham Chandler,
born at Florence, Italy, February 23, 1878.
C. L. Niehokf & Co. â The private banking house now con-
ducted under this name was established here in 1858, by C. L.
Niehoff, its present sole proprietor. His first place of business was
in the Metropolitan Block, corner of Randolph and LaSalle streets,
where he was associated with Messrs. N. Eisendrath and G. Sny-
dacker. In i860, he separated from this firm, and opened a bank-
ing office on his own account in the Sherman House, taking in as
a partner his brother-in-law, Gustavus Troost. This partnership,
under the firm name of C. L. Niehoff & Co., was continued for
seventeen years, until broken by the death of Mr. Troost, which
was in 1877. Shortly following this event, Adam Amberg became
a partner in the firm, the name and style of which was then, as
it now is, C. L. Niehoff & Co. Mr. Amberg remained a partner
until 1S84, when he retired from the business, which has since been
carried on by Mr. Niehoff, as its sole proprietor. At the time of
It lire, Mr. Niehoff's office was in the building adjoining
the old Marine Bank, where he was burned out, sustaining heavy
losses. Within a fortnight, however, after that event, he resumed
business on the West Side, in the loft of a brick building, situated
on the corner of Lake and Clinton streets. He remained there one
year, and then removed to Munger's Building, corner of Randolph
and LaSalle streets, and five years later to the corner of Washing-
ton Street and Fifth Avenue. In 1880, he moved to the Greene-
baum Building, and in 1884, to No. 49 LaSalle Street. Mr. Nie-