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Evarts I. Blake.

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first and only eleven-story beautiful build-
ing in the city of Oakland.

The strong and absolute belief in the
brilliant future of Oakland was thus es-
tablished by the bank's board of direc-
tors, and there may be some reason to
doubt that other high buildings would
have been erected had not the Union
Savings Bank thrown the searchlight on



the path and handled the key that opened
the lock for Oakland to be a city of
beautiful buildings.

The bank's directors are now seven in
number: Wm. G. Henshaw, Hon. Victor
H. Metcalf, Chas. T. Rodolph, W. A. Bis-
sell, H. J. Knowles, P. C. Black and Hon.
Jos. R. Knowland, and the following of-
ficers, viz.: Wm. G. Henshaw, president;
Victor H. Metcalf, vice-president and man-
ager; Chas. T. Rodolph, vice-president
and assistant manager; A. E. H. Cramer,
cashier; L. E. Boardman, assistant cash-
ier, and C. F. Gorman, assistant cashier.

Under the present bank act, the bank
has a "commercial department" as well as
a "savings department," with a combined
paid-in capital of $300,000 and surplus and
undivided profits of $423,000, and with
these figures ofifers a greater guaranty to
its depositors than many another bank.



Central National Bank



97




Central National Bank, 14th and Broadway, Oakland. California



98



Greater Oakland, 1911




Interior View, Central National Bank



Central National Bank




HE Central National Bank of
Oakland and its savings af-
filiation, the Central Savings
Bank, represent a strength
as regards capital second to
no bank in Alameda County, their paid-up
capital being $1,500,000. Added to this
they have a surplus and undivided profits
in excess of $375,000.

The Central Savings Bank of Oakland
is the older institution, having been organ-
ized in 1892 as the Home Savings Bank.
The title was subsequently changed to the
Central Bank and under this name it con-
tinued as both a savings and commercial
bank until August 12, 1909, on which date
the commercial business of the Central
Bank was converted into a national asso-
ciation under the title of the Central Na-
tional Bank of Oakland, with a paid-up
capital and surplus of $1,125,000, which
has since increased to $1,250,000.

The Central Bank then continued as a
strictly savings institution, and that its



name might more properly express its
business, in April of this year its title wai
changed from Central Bank to Central
Savings Bank of Oakland, its capital hav-
ing previously been increased from $300,-
000 paid up to $500,000, with a surplus
and undivided profits of $125,000.

The combined resources of the affiliated
banks at the date of their last statement
were approximately $13,650,000.

The Central National Bank of Oakland
is now easily the leading commercial bank
in Alameda County, having assets in the
neighborhood of $8,000,000, and the Cen-
tral Savings Bank takes rank with the
largest of the savings banks in this city,
with assets in the neighborhood of $6,-
000,000. The banks are housed in a five-
story brick and stone building at the
northeast corner of Fourteenth and Broad-
way, which is the property of the Central
Savings Bank, having been acquired by
them in 1S9? a^d occupied continuously
by tluni .■=ircc tliiit date. With a floor



Central National Bank



99




aop



Greater Oakland, 1911



area of approximately 100x100 feet, the
banks aic given a magnificent banking
room with ample light and a spacious
lobby.



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Central National Bank Vaults

At a great expense they have just in-
stalled new coin and book vaults which
are of the latest design and are not ex-
celled in the city, the great coin vault
being practically impregnable.

The Central Safe Deposit Vaults, lo-



cated on the Fourteenth Street side of
the building, with entrances both from
Fourteenth Street and from the lobby of
the bank, are the property of the Central
Savings Bank and have the largest and
finest safe deposit equipment to be found
in Oakland.

Both banks are under the control of
the same board of directors, composed of
representative men in different lines of
business. They are:

J. F. Carlston, president.

R. M. Fitzgerald, vice-president and at-
torney-at-law.

John L. Howard, president of the West-
ern Fuel Company.

J. W. Phillips, president Grayson-Owen
Company, wholesale butchers.

T, A. Crellin, of the Morgan Oyster
Company and Ruby Hill Vineyard Com-
pany.

W. G. Manuel, commission merchant.

George C. Perkins, United States Sen-
ator.

J. K. Mofifitt. cashier. First National
Bank of San Francisco.

A. S. Blake, president of the Oakland
Paving Company and Blake & Bilger.

W. T. Veitch. contractor and capitalist.

F. M. Smith, president of the United
Properties Company and Pacific Coast
Borax Company: controlling factor in
the Oakland Traction Company and San
Francisco, Oakland and San Jose Consoli-
dated Railway Company.




First National BA^fK



101




First National Bank



e- ^



HE First National Bank of
Oakland is one of the oldest
and most substantial institu-
tions in Alameda County,
dating its origin to a time
when the city of Oakland was a mere
country village of scarcely more than
20,000 inhabitants. The growth of the
bank has been coincident with the growth
of the city, and it has aided many of the
largest concerns in Alameda County to
advance from small beginnings to their
present positions of prominence.



The building now occupied by the bank
was the pioneer in concrete construction
in the city, and was the forerunner of
many splendid ofifice buildings now in
tirocess of erection or in contemplation.
The bank enjoys a surpassing advantage
of location, being at the intersection of
San Pablo Avenue, Broadway and Four-
teenth Street — the junction of three great
arteries of traflfic.

Believing that the function of the mod-
ern bank is to supply any banking need
that any customer may possibly desire,



102



Greater Oakland, 1911




First National Bank



103



the First National Bank lias provitled a ihat institution has been remarkable. Its

fine and up-to date safe deposit depart- deposits have risen to a total of more

ment, in which boxes for the keeping of than $2,000,000, and the bank is constantly

valuable papers, jewelry and other things expanding its resources and widening its

may be rented at a low price. The safe sphere of influence. The First Trust and

deposit vaults are unique in being situated Savings Bank, while conducted as a sep-

on the street floor, so that customers are arate institution, is owned by the stock-




not obliged to climb stairs in reaching
their boxes. A storage vault in the base-
ment provides facilities for the safekeep-
ing of rugs, silverware, fine paintings and
other valuables of a bulky nature.

Three years ago the First Trust and Sav-
ings Bank was organized and the success of



holders of the First National Bank, and
its directors are identical with those of the
parent institution.

The officers are: P. E. Bowles, presi-
dent; Geo. D. Metcalf, vice-president; O.
D. Jacoby, cashier.

The directors of both banks are as fol-



104



Greater Oakland, 1911




Interior View o



First National Bank



105



r'



V




'irst National Bank



106



Greater Oakland, 1911




First National Bank



107



lows: L. C. Morehouse, A. L. Stone,
H. C. Morris, E. A. Heron, W. H. Taylor,
L. G. Burpee, E. W. Runyon, P. E. Bowles
and Geo. D. Metcalf.

The First National Bank of Oakland be-
gan its existence in 1874, and was the



United States — eight in California and one
in Boston. A peculiarity of the gold
banks was that they were permitted to
take out circulation redeemable in gold
coin by the deposit of United States
bonds bearing interest payable in gold.




outgrowth of the Alameda County Savings
and Loan Society. In 1875 the bank was
reorganized under the national system as
the First National Gold Bank of Oakland.
This was one of the few gold banks cre-
ated, there being only nine in the entire



AH of the other national banks in the
United States at that time were making
no attempt to redeem their currency in
gold, and consequently all currency was
depreciating and could be exchanged for
gold only at a great discount.



103



Greater Oakland, 1911




First National Bank



109




I,adies' Department



After ihe government resumed specie
payments, thereby restoring greenbacks to
a parity with gold, there was no longer
any reason for the special character of the
gold banks, and they became like other
national banks. Consequently, in 1880,
the word "Gold" was dropped from the
title of the "First National Gold Bank of
Oakland," and thereafter it was known
simply as the First National Bank of Oak-
land.

The present management took control of
the bank in 1893, when G. W. McNear be-
came president and P. E. Bowles vice-



president. Three years later Mr. Bowles
was elected president, which position he
has retained ever since that time. The
other officials of the bank are: L. G.
Burpee, vice-president; L. C. Morehouse,
vice-president; E. N. Walter, cashier; S.
H. Kitto, C. N. Walter and Irving H. San-
born, assistant cashiers.

The capital and surplus of the First
National Bank are $605,000, and its total
resources are more than $4,000,000. The
First Trust and Savings Bank has a capi-
tal of $300,000.



110



Greater Oakland, 1911




State Savings Bank



111.



State Savings Bank





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1



HE State Savings Bank was
organized under the name
of the Dwight Way Loan
and Investment Company in
March, 1893, in compliance
with the laws governing savings banks.
Their first place of business was in Berke-
ley, California. In 1894 their principal
place of business was changed to Oak-
land, and the name was correspondingly
■changed to Oakland Loan and Investment
•Company. The final change of name to
State Savings Bank was made in 1899.

The business of this bank started in
very primitive surroundings, and there
•was not the least attempt at appearances,
the organizers originally having in mind
only the handling of the paid up capital
stock of the institution. As will be well
remembered, in 1893, and for several
years, the financial conditions were any-
thing but promising for a new institu-
tion. Money was very scarce, and there
was little opportunity for securing out-
side capital for any kind of investment,
to say nothing of the chances for a
bank to secure new deposits. The
watchword of the officers was to keep
expenses down and make a profit for
the stockholders, and they now often
refer to the fact that the State Savings
Bank paid at least seven per cent divi-
dends to its stockholders from the date



of their original certificates of stock.
For the first few years the total ex-
pense of running the corporation did not
exceed one hundred dollars a month.

After moving from Berkeley a loca-
tion was secured at 1008 Broadway. Later
their offices were moved to 480 Tenth
Street, and in 1898, a building was erect-
ed for them at 426 Tenth Street, where
they remained for five years. At the end
of that time the property they now oc-
cupy at the northwest corner of Thir-
teenth and Franklin Streets was pur-
chased by the bank, and remodeled to
suit its convenience.

Mr. V. D. Moody, who for many
years was president of the First Na-
tional Bank of Oakland, and one of the
organizers of the Central Bank, Oakland,
was also one of the largesi subscribers
to the capital stock. His son, W. C.
Moody, was also one of the original sub-
scribers, and succeeded his father in the
directorate, which office he held up to
the time of his death in March, 1910.

J. C. McMullen, who was the organ-
izer of the State Savings Bank, has been
in the banking business since 1870, hav-
ing been president of the Winfield Na-
tional Bank up to 1887, at which time
be moved to California, and after thor-
ough investigation of the possibilities of
a banking institution around the bay,



112



Greater Oakland, 1911




State Savings Bank



113



decided upon the organization of this
corporation. From the date of its char-
ter, he has given the bank his undivided
attention, and its present condition as to
deposits and surplus is largely due to his
individual attention and untiring energy
in its behalf, it being a well-known fact
that his every act, even to the purchase
of the most trivial articles, was with a
view to the best interests of the institution
he was building up.

This bank is one of the few banking
institutions which have from the date
of their incorporation guaranteed a def-
inite rate of interest to their savings de-
positors, and at no time has this rate
been less than four per cent. Notwith-
standing this liberal rate paid to their
savings depositors, the bank has accu-
mulated a surplus nearly one and one-



half times the amount of its capital.
Since the beginning their loans have been
made entirely on real estate security; and
in all ways they have conducted their
business on the lines of a savings bank
only, no effort having been made to se-
cure anything except savings deposits,
and in no event catering to commercial
depositors who would naturally at times
require personal accommodation without
giving real estate security. This line of
work is naturally less remunerative, but
at the same time contains less elements
of risk, as is evidenced by the miniiTium
amount of loss sustained by the bank, and
the extremely small portion of its money
now invested in real estate, and the $136,-
000 of dividends paid to its stockholders,
together with the $130,000 now carried
in the surplus account.





Oakland Bank of Savings



Oakland Bank of Savings



Oakland Bank of Savings




HE Oakland Bank of Sav-
ings, being the oldest and
largest bank in Alameda
County, its history is chief-
ly an epitome of the growth
and financial development of Oakland.

The Oakland Bank of Savings was or-
ganized August 13, 1867, with a capital
stock of $150,000, which in 1869 was in-
creased to $300,000, and in 1871 to
$1,000,000. In January of this year the
Oakland Bank of Savings took over the
business and assets of the Bankers Trust
Company of Oakland, California, at which
time its capital stock was increased to
$1,150,000. The last published statement
of the bank shows aggregate deposits of
$19,610,794.73 and total resources of $21,-
586,506.89.

The control of the bank has always
been in strong hands, and the manage-
ment has practically remained unchanged
during a long series of years, during
which time the Oakland Bank of Savings
has grown and prospered and at all times
has been considered a model of stability
«ind intelligent management.

The bank began business in a small
brick building at Broadway and Ninth
Street but moved to its present location



about January, 1871, and since then the
rapid increase of its business has four
times necessitated the enlargement of its
banking quarters, the last resulting in the
present magnificent structure which it now
occupies.

The Oakland Bank of Savings build-
ing is a structure of which Oakland may
well be proud. According to eminent
architects and engineers who have visited
the coast to study the class of buildings
erected since the earthquake and fire, it
is considered one of the best constructed
buildings in the United States.

Situated at the northeast corner of
Broadway and Twelfth Street, the main
transfer point of the city, the Oakland
Bank of Savings is in the very center of
the retail district and of convenient access
to all interurban car lines.

The material and workmanship enter-
ing into the construction and the finish
of the structure are of the best that the
resources of this country could produce.
The fact that the bank was not obligated
to move from its quarters during the
wrecking of the old three-story building,
which was badly damaged by the earth-
quake of 1906, and the erection of the
eigrhf.ctory steel frame, was a marvel to



116



Greater Oakland, 19M




Oakland Bank of Savings



117




ns



Greater Oakland, J 9 II



many. The massive vaults remained un-
disturbed, while hardly a desk in the
banking room was moved until four
months before the completion of the
building. Meanwhile, great foundations
were put in place, steel work was set
and connections riveted over, under and
around the banking room. Even the ce-
ment flooring was laid down without dis-
turbing the wooden floor which it supplants.
The exterior of the building, which is



of most effectively housing a great modern bank.

The offices on the upper floor are
unusually bright, large and airy and are
equipped with every modern convenience
such as electric and gas light, steam heat,
hot and cold water, vacuum cleaner, com-
pressed air, power wiring for doctor's use,
special plumbing for dentists fireproof cabi-
nets an ] vaults and stationary wash stands.

There are eleven members of the
Board of Directors of the Oakland Bank





jf 3fc»—»«»— Ji ll iii n iii iiiwiOK**— iiw ■ *■ > 'iw ' *»



Interior View, Oakland Bank of Savings



beautiful on account of its classic simplicity.
is of white California granite to the second
story, with buff pressed Roman brick
above that. This finish, with its tall,
grilled windows and heavy bronze doors,
not only gives the structure the appear-
ance of strength and solidity, but helps
to create it. The whole impression of
the exterior is one of refined and digni-
fied strength, molded to the single purpose



of Savings: W. W. Garth waite, president;
W. B. Dunning and Henry Rogers, vice-
presidents; J. Y. Eccleston, cashier and
secretary; and Messrs. M. L. Requa,
George H. Collins. Horace Davis, Arthur
H. Breed, James K. Moffitt. A. Borland
and J. P. Edoff. Samuel Breck, F. A.
Allardt and Leslie F. Rice are the assist-
ant cashiers, and J. A. Thomson and A. E.
Caldwell are the assistant secretaries.



Oakland Bank of Savings



119




120



Greater Oakland, 1911



Harbor Bank




RGANIZED March 24, 1907,
this bank has been built
up by its officers and di-
rectors to a position where
it commands the absolute
of the business community,
yet conservative policy inau-
gurated by its first president, F. W. Bil-
ger, has been maintained under the di-
rection of H. C. Spaulding, who has been
president during the years 1910 and 1911.
The other officers are as. follows: A. Ken-
dall, A. A. Busey and A. G. Taft, vice-
presidents; C. C. Spaulding, secretary and
cashier; P. G. Jacobus, Jr., assistant cashier;
the other directors are Hon. George Sam-
uels, Emil Lehnhardt, C. W. Haines, C. A.
Young, A. J. Patterson and T. P. Frost.



In keeping with its general progres-
siveness the bank will soon announce the
possession of a more modern banking
room and equipment in a more central
location, and a substantial increase in its
capital stock is also contemplated.

Being a new institution, there is not
a great deal of historical value which is
of interest at this time, but the fact that
the number of commercial accounts have
doubled the past year and the savings
department has made a gain of 50 per
cent the past few months clearly demon-
strates that past performance and pres-
ent service is appreciated by the business
community and that history is being made
for a greater bank of the future.



Italian Popular Bank



131




122



Greater Oakland, 1911



Italian Popular Bank



This bank opened for business on the 1st
of January, 1907, Cav. Uff. J. F. Fugazi, its
president, and F. N. Belgrano, its vice-presi-
dent, two most capable financiers and the
oldest Italian bankers on the Pacific Coast,
being the organizers.

The bank was opened in San Francisco
but a few months when its president and
vice-president, foreseeing the great commer-



Italian Popular Bank, both in our city and in
San Francisco, has been one of the few finan-
cial institutions that during the great mone-
tary crisis paid their depositors in gold coin,
and no restriction has even been put on their
withdrawals.

The following are the facts and figures of
the growth and financial strength of this
young but powerful institution:




G. GHIGLIERI
Manager Italian Popular Bank



cial opportunities that were in store for Oak-
land, established a branch in this city, its
management being entrusted to G. Ghiglieri
as manager and Ant. Friant as cashier.
Through the efforts and ability of these two
gentlemen the new bank has forged ahead
of all the younger banking institutions es-
tablished in our city after the great catas-
trophe. It is worthy of mention that the



December lit, 1907 ■..$ 995,606.37

Decemlicr :U, 1908 1,237,902.89

December 31, 1909- 1,779,977.31

December 31, 1910 2.398,640.59

June 30, 1911 2,711,643.31

The directors are J. F. Fugazi, George M.
Ferine, F. N. Belgrano, Charles Soracco,
Dr. C. Barsotti, Ant. Laiolo and G. Ghiglieri.



Italian Popular Bank



123




ANT. FRIANT
Cashier of Italian Popular Bank



124



Greater Oakland, 1911



Alameda County Building and Loan
Association



One of the oldest building and loan asso-
ciations in the city is the Alameda County
Loan Association, located at Sixteenth and
Clay Streets, the compau}- having been do-
ing business for the past thirty-seven years.

In this time it has paid to its investors
for matured installment stock the sum of
$1,480,395 in cash promptly when due. It
has furnished the money to build over seven
hundred homes in Alameda County.

It owns and has its offices in a fine build-
ing at the corner of Sixteenth and Clav



Streets, Oakland. The company has earned
the reputation of handling savings in a care-
ful and accommodating manner, in amounts
ranging from $1 per month to $10,000.

The officers are: C. C. Volberg, presi-
dent ; J. Tyrrel, vice-president ; Charles P.
Hoag. secretary ; H. L. Kruger, assistant
secretarjs Daniel Meyer, treasurer, and J.
B. Richardson, counsel. The directors are
J. Tyrrel, Henry Danker, Henry Mohns, D.
Muller, H. C. Hacke, C. C. Volberg, F. H.
Clark, J. S. Burpee and C. P. Hoag.



Alameda Co. Building and Loan Associatioi



125




Alameda County Building and I,oan Association



126



Greater Oakland, 1911




New Security Bank and Trust Company in course of construction at Eleventh and Broadway. Oakland



Oakland — Its Future



127



Oakland — Its Future

City Is Being Builded and Developed To Embrace the Great Commercial
Future Promised by Union of Rail and Ship

By Ma^or Frank ^- ^ott




N THE story of the j-ears,
1911 will have its place as
that moment in which the
destiny of Oakland as a
great commercial city stood
revealed to all her people. Prophetic vision
was required a decade ago to see the achieve-
ments of today in the promise of 1912. But
the dream of the seer is not necessary today
to forecast Oakland's future. It is an open
book in which all may read.

Every city symbolizes in concrete form
some great idea. Oakland has been called
the Athens of the West. She might equal-
ly well have been called the Carthage of
the Pacific, for her commercial destiny is
no less assured than her cultural su-
premacy.

It is better today that we should forge
out a future that does not look to the
past for a counterpart. Oakland is upon
the threshold of her greatness, and that
idea which she is to symbolize in the con-
crete achievement of the future is striving
for full expression in the work of our
hands today. It is todaj- that we dare
put that idea into words. It is today that
we may declare that Oakland shall stand
as the symbol of something different
from the achievements of the past, and
worthier than the mere examples of a
bygone age.

Era of Unexcelled Prosperity.

Oakland shall symbolize the union of
commerce and culture. Her work shall
be the expression of a new ideal, the
ideal of a great modern city. This city
is entering upon an era of unparalleled
prosperity. The wonderful growth of the
sister cities, Liverpool and Manchester,



as industrial and commercial hives of
toil, is destined to be repeated. But the
commercial step is not to be taken here
without due thought to the guarding of
the city from falling into the reckless
pursuit of an exclusively business pur-



Online LibraryEvarts I. BlakeGreater Oakland, 1911, a volume dealing with the big metropolis on the shores of San Francisco Bay .. → online text (page 7 of 30)