' Digitized by the Internet Archive in 2012 with funding from University of Illinois Urbana-Champaign http://www.archive.org/details/75thanniversaryo00pull 377311 Published for our friends by PULLMAN TRUST AND SAVINGS BANK Vol. 1, No. 3, Spring, 1958 K op "t T W I 1 I f I t V I I I I I I I L I ptiLlMAN [p^ rnr^ □oon BANK r r SAVINGS BANK. □OH 1 75th Anniversary of the Pullman bank 1883-1958 ' I "»» ..-> 1J»»» *• rrma Hotel Florence, Pride of the Eighties An important part of George M. Pullman's comprehen- sive plan for the model town of Pullman, Illinois, was a beautiful and gracious hostelry which he named for his daughter. It was the center of social life for some years after its opening in 1881. Celebrities from all over the world have been guests here. Still standing (with an The Pullman Arcade Cover Picture One of the most impressive of all the Pullman buildings was the Arcade which housed various stores, a line thea- ter, the Post Office and the first Pullman library. More importantly, it was the home of the Pullman Loan and Savings Bank, antecedent of Pullman Trust and Savings Bank. The American Legion hall now stands on its site, as the Arcade was torn down in 1926. At the opening of the theater, August 9, 1883, General Phil Sheridan was - v guest of honor. There were red leather seats for 1,000 people, and many distin- guished guests came by spe- cial chartered trains to see the play "Esmerelda." Pu Copyright 1958 Iman Trust & Savings Hank addition of 55 rooms) it is a landmark proudly recalling the glory of Pullman in its early days. It once had well equipped stables with horses and carriages, and was the terminus of a street car line which carried many distin- guished visitors to and from the World's Columbian Exposition in Jackson Park in 1893. Historic Greenstone Church Included in the basic plan for the town of Pullman was the famous Greenstone Church. Built of serpentine rock, so called because of its fancied resemblance to certain serpents' skins, it naturally came by the name of Green- stone. George M. Pullman's brother, who was a minister, attempted to organize a non-denominational group here but failed. In good repair today, the building serves the Pullman Methodist Church. '>** ~\ ffT* m m | v . *c r i w - I The Stage is Set - for 1883 ALTHOUGH 1883 is only a long -^ *■ lifetime ago, it is difficult for most people to think in terms of 75 years in the past. The average man of those days would look up to the man of to- day, for he was two inches shorter, while the girl with the light brown hair averaged an inch shorter than her sister of today. It was a much younger man's world then, when people 65 years old or more made up only a small fraction of our population. Things had to be done quickly, for life expectancy was only 43 years, quite incomprehensible com- pared to our 70 years, now. Health precautions in those days were feeble indeed. Most homes had no inside plumbing. Few windows were screened and the housefly was an ever present pest. The slogan, "Swat the fly," had not yet been conceived nor exploited. In public places the common drinking cup chained to the wall was taken for granted and the public roller towel was considered quite a convenience. Science and engineering were only beginning to make the place for them- selves that foreshadowed their impor- tance today. The Brooklyn Bridge, completed in 1883, was the longest single span ever built; the tallest and strongest; the first to use steel cables. It was only three years later that its fame was given another fillip when Steve Brodie, pro- prietor of a Bowery saloon in the very shadow of the great bridge, reportedly dived from its great height to the Hudson River and lived to brag about it. It was also in this famous year that the American Federation of Labor was founded, as was Marshall Field & Co., the world's greatest department store. The old Rush Street bridge was built in 1883 to succumb, in turn, in the early 1920's when the new Michigan Avenue double-decker was opened to the ever increasing flow of traffic. There was as yet little elec- tric power available, the first central station having been opened by Thomas Edison in New York City, the previous year. There was no central power plant in Chicago. The electric light had been in- vented only four years before. It was in 1883, on the other side of the world, that one of the greatest disasters of all time occurred. In the Dutch East Indies, the vol- canic island of Krakatoa, in a stupendous eruption, blew its top, almost completely destroying the island. The explosions were heard 150 miles away. Sea waves 100 feet high destroyed 1295 towns, killing 36,000 people. Fine volcanic dust rose more than seventeen miles into the air and, in the follow- ing months, circled the earth three and a half times, caus- ing magnificent sunsets all over the world. A trend, reversed in recent years, started in 1883 when the Post Office reduced the first class letter rate from three to two cents. There was no rural delivery then, and farmers were required to call in town to post or receive mail. But the farmers made no objection. They were used to a hard life. All the field work was done with oxen, mules or horses, and the crudest of machines. There were no tractors, no electric service, no automo- biles — no good roads. There were, of course, no radio, television, phonographs, no central heating, no electric ranges, refrigerators, laundry machines, freezers, toasters, or air conditioning any place. No farm had a telephone. This indispensable device, of which there are more than 50 million in use, was only first exhibited in 1876. In 1881 the U. S. State Department had only two phones — both the old wall type. There was still no long dis- tance service. It is said that the Western Union Tele- graph Company was offered the Bell Telephone Co. patents tor $100,000, but turned down rhe offer as much too exorbitant. In the 1880's that miracle of the twentieth century was still only a "drug" store, selling drugs and medical equipment. It was impossible to drop in for a soda, although some few dis- pensed "mineral waters" and could advertise as many as 14 syrup flavorings. There was no such thing as Standard Time in those days. Most places used local time as told from the sun. Time varied A\/i seconds for each mile. In 1883 the railroads divided the U. S. into four zones, with all trains in any one zone using the same time. It was only in this year that the Northern Pacific joined its two ends with a golden spike at Gold Creek, Montana. The Santa Fe had not yet reached Los Angeles, and there was no Great Northern. Judge Roy Bean was enforcing his own private and somewhat perverted justice "West of the Pecos." It was in this exciting year of 1883 that Buffalo Bill started his first "Wild West Show," which toured the United States and Europe. While life in Chicago was reasonably safe in the 1880's, real untamed Indians were still rampaging in the west, and the last great Indian battle was not fought until 1890. The Battle of the Little Big Horn — Custer's Last Stand — fought in 1876, was still talked about, and in the Spring of 1883 General George Crook and his cavalry chased the Apaches across the Mexican line, destroying their camps, and bringing back nearly 400 Indian prisoners. Not till 1886 was the great Geronimo captured. There were no skyscrapers at all in 1883. It was not until the next year that they made their appearance — one in Chicago towering to 10 stories was located at Adams and LaSalle. The first trolley cars did not appear until 1884, al- though there were cable cars, but in most cities the horse car was the only means of local public transportation. Chicago's first "L" did not arrive until 1892, but even then, it could not enter what we now call "the Loop." Chicago was well along in fulfilling its destiny as the brawling Prairie Giant, trans- portation center and meat packer to America. Gustavus Swift had arrived in the city in 1875, and only two years later conceived and built the refrigerated railroad car. Now he could butcher meat for the tables of the nation. And while Lydia Pinkham, friend of all women, died, Benito Mussolini was born. The infant Chicago Daily News was well established, too. Ignoring police requests, young Victor Lawson had dared to tell the world of the horrors of the Haymarket Riot of 1877. His circulation jumped from 6,000 to 90,000 overnight, and his success was assured. One of Chicago's most shrewd and energetic leaders was George Mortimer Pullman. Pullman had built up $6,000 in capital, moving warehouses and homes as needed in widening the Erie Canal in his native New York, then came to Chicago seeking greater fortune. Irritated by the discomfort of railroad travel, Pullman conceived an entirely different type of sleeping car which provided much more comfortable beds for overnight travelers, and he built such a car, Number 9, in 1859, for the Chicago & Alton Railroad. By 1864, after a sojourn in Colorado, Pullman de- signed and built the "Pioneer," a new sleeping car, radical in size, comfort and cost. Railroad men scoffed, for it was "too wide for station platforms; too high for bridges." It was at this time that President Lincoln was assassi- nated, and to transport his body from Chicago to Spring- field the Alton Railroad used Pullman's "Pioneer." Overnight, platforms were rebuilt, bridges raised. Pull- man's fortune had been exhausted and he was practically destitute when this great stroke of fortune saved him. Public acclaim for his magnificent conveyance immedi- E P H H Uf^§^ u~ ately started the 33-year old Pullman on the way to his great success. By 1873 his fortune and fame in America had spread to Europe, and he built sleeping cars operating in Eng- land, France, Switzerland and Italy. Now, at Pullman. Illinois, he would achieve his dream, to build for his employees an entire town of tine homes, beautiful parks, and free from all evil influences. A year of excitement was 1883, and in Pullman great things were happening and drawing the eyes and atten- tion of the world. I'lilliiiiin n mime heuril round Hie world « TN 1883, BUSINESS IN THE United States was bad, -*- finally resulting in a serious financial panic the next year. It would normally not have been a time to launch a new enterprise. But conditions in Pullman were differ- ent. The Pullman Palace Car Company was immensely successful and George M. Pullman had built the fab- ulous model town of Pullman. In planning the town, which was to cost $5,000,000, Mr. Pullman purchased 3500 acres of swampy land fourteen miles from Chi- cago. The site was next to Lake Calumet and not far from Roseland. This town, which was settled by a col- ony of Hollanders in 1849, was originally called High Prairie because it lay on the high ground to the west of Michigan Avenue which sep- arated it from the low, swampy, reed-choked area to the east. "-. *■ -* George M. Pullman Founder and First President George Pullman was not a man to be dismayed by swampy land, for his first work had been moving build- ings and he had raised much of old Chicago to get the city out of the mud. Three thousand of Mr. Pullman's acres were conveyed to the Pullman Land Association, five hundred going to the manufacturing company. Mr. Pullman brought from New York City a 26-year old architect named Solon Spencer Beman, who developed plans for the unique town and the car works. Mr. Beman designed and super- Pullman Grandstand on the island created for an athletic field at 1 1 1th Street and Lake Calumet vised the construction of all the buildings in Pullman, including the arcade, churches, schools, market, hotel, water tower and the car works, as well as some thirteen hundred dwellings for employees. For more than a year he was in complete charge of all the affairs of Pullman, except the building of railway cars. Since the Pullman Land Association controlled all the property, objectionable characters and businesses were excluded, and a city was built of uniform beauty. There was nothing like it in the land. Houses were of red brick and terra cotta, with broad, paved, shaded streets. There was a perfect system of drainage and sewerage and the modern conveniences of gas, water and sanitary arrange- ments. Many of the larger houses had complete bath- rooms. The famous water tower supplied water for the town and the car works. True to the practical nature of Mr. Pullman, the base of the tower served as a collecting pool for sewage which was then pumped to the Pullman farm nearby for use as fertilizer. It was Mr. Pullman's intent that the environment and high moral tone of the town would assist in elevating the character and condition of its people and give to them and their families those advantages which wages alone would not se- cure for them in the "out- side world." The rent for Pullman houses was univer- sally $3.50 per room per month when occupied by officials, merchants or pro- fessional or business men. Homes for operatives, in- cluding basements used as kitchens and dining-rooms, averaged $2.50 per room. The average pay per day at the car works was $1.84, normal for other industries. Pullman was greatly concerned about his employees' welfare. Consequently, when he recognized an oppor- tunity to help his employees to put aside a part of their wages in savings, he decided to organize a bank. Despite the fearsome economic condition of the nation, the shops were producing cars, so Mr. Pullman and his associates founded and began operation of the Pullman Loan and Savings Bank on May 7, 1883. Frank 0. Lowden, President, 1898 to 1902 The directors chosen were officers of the car works and reputable business men, including the merchant prince, Marshall Field, and the wealthy railroad supplies manufacturer, John Crerar, later famous for the scien- tific library bearing his name on the northwest corner of Michigan and Randolph, in Chicago. Mr. Pullman was president, George C. Clark was vice president and the secretary was W. A. Lincoln. Bank quarters were established in one of the town's fine buildings, the Arcade, which also housed the Post J »PT Old Pullman Railroad Depot on 111th Street Office, theater, stores, billiard parlor, restaurant and li- brary. The first statement of condition published by the bank as of December 31, 1883, shows "cash on hand" to be $9,395.47, with furniture and fixtures listed among the bank's assets at $1,781. From the beginning the bank prospered. Minutes of the board meetings soon showed approval of dividends to the handful of stockholders. The largest share went to the Pullman Palace Car Company, since the company had put up $62,000 of the $100,000 capitalization. At the first board meeting in the year 1 886 an as- sistant secretary of the bank was elected — Edward F. Bryant, who had come from Massachusetts and who was to play an important role in the bank's affairs over the next 42 years. Later in the year W. A. Lincoln resigned and Bryant replaced him as secretary. Mr. Pullman told him his salary would be $1800 a year. With more money on de- posit and more transactions daily, Mr. Pullman spent $6200 for new safes and a "burglar proof vault." The directors thought it a fine idea — and by 1 892 the bank's assets, for the first mounted to over a mil- 5 ^i time. lion dollars. The year 1 893 marked another financial panic in the United States, but the Columbian Exposition brought money to Chicago and the area was not hard hit. By I 89 4 the depression Robert Todd Lincoln Director, 1 898 to 1919 reached Chicago and Pullman. While the nation was still staggering, affairs worsened for the Pullman employees. Smarting under the paternalistic control Pullman exerted over them, the workers struck when a cut in wages was announced. 4,000 men walked out of the plant to start a bitter and bloody strike that lasted for many months. Although the strike finally resulted in legislation which required Pullman to sell his beloved town and changed the entire character of the Utopian community, the bank withstood the shock and continued to operate profitably. By 1 896 the affairs of the bank were in such good or- der that the directors approved Mr. Pullman's action in- creasing Edward Bryant's salary to S3600, after 10 years of service to the bank. Pullman, himself, signed the minute book to make the record absolutely official. Pullman's health was broken, and he was embittered by the strike of 1894. He began to withdraw from the affairs of the bank, and introduced new leadership in the person of his son-in-law, Frank Orren Lowden. A prom- ising young lawyer who had married Florence Pullman, Lowden joined the board in 1897 and began active man- agement of the bank's affairs. Interior of the Arcade, showing main aisle shops on first floor By the time another year had rolled around, the great individualist George M. Pullman had passed away, and at the annual stockholders' meeting on January I. 1 898. the Pullman Palace Car stock was represented by the acting president of the company. Robert Todd Lincoln, son of the martyred Abraham Lincoln. He was promptly elected a director of the bank. At the directors' meeting which followed, Frank Lowden was elected president to succeed his father-in-law, and the directors sent a "me- morial" to the bereaved Mrs. Pullman. George M. Pullman organized the bank to serve the need of his employees, but it soon outstripped its objec- tives. Annexed to the- neighboring town of Hyde Park, the original town of Pullman became part of Chicago in 1889. The city was growing fast, and its transportation and labor advantages attracted more and more- factories. Soon the community was dotted with plants representa- tive of America's growing industrial giants. By the final year of the century, the 16-year old bank was well estab- lished and the stockholders were rewarded with a 10095 stock dividend. The increasing outside activity of young Lowden is re- flected, by 1902, in his resignation as president, and the election as president of Edward Bryant, now a veteran of 16 years in the bank, at a salary of $5000. Frank Low- den went on to represent Illinois in the U. S. Congress from 1906 to 1913. He became governor of Illinois in 1916, holding the post for one term. A prominent can- didate for President in 1920 and 1928, he rejected his party's nomination as Vice President in 1928 and re- tired from public life. He died in 1933. The years rolled on, with continued growth. In 1905 there was a 50% stock divi- dend. And in 1907 capitali- zation of the bank was raised to a half million by a 33 Vi % stock dividend and the sale of $100,000 in stock to the public at $100 per share, the same price paid per share by the founders. A Trust depart- ment was organized that same year, and the bank name was changed to better identify its activity. It became "The Pullman Trust and Savings Bank." At a mid-year meeting in 1909, the directors acknowl- edged with genuine sorrow the death of the last of the original directors, Goris Vandersyde, who had been a leading citizen of the community. The years of the first world war passed, but strict at- tention of the directors to bank business was indicated by the lack of a single reference in the minute book, except to recognize a leave of absence for Cashier Donald R. Bryant, son of President Edward Bryant, who entered the Army in 1917. Next year because "business conditions in the immedi- ite vicinity of the bank have changed to such an extent,'' Edward Bryant President, 1902 to 1928 — the directors asked for a reduction in rent for the bank premises. Shortly after the Armistice, they approved a salary bonus of 10% for the bank's 18 employees, "be- cause of the high cost of living." In 1919, after 20 years of service, Robert Todd Lincoln resigned from the board. Traditionally, a wave of lawlessness follows a period of war, and bank robberies were increasing. In 1919, Donald Bryant, a lieutenant in a machine gun battalion in France and who knew about "pill boxes" at the front, proposed a plan. A window of the bank was removed and in its place a steel and concrete pill box was built that gave clear firing range inside the bank and outside as well. Day and night, ex-soldier guards with high pow- ered arms proved sufficient pyschological reason for bandits to operate elsewhere, for there seems never to have been a scare, although once a rifle went off by mis- take and pandemonium broke loose. Many people remember this pill box bulging from the side of the bank in the old Arcade building. They may also remember the brazen robbery in 1919 of the mail pouch, containing $100,000 in Pullman bank cash. It was a well-planned and simply executed foray, wherein professional criminals merely took the bag away from some boys who were to carry it from a chute at the Illi- nois Central Railroad Station to a mail wagon standing at the curb. The directors at a meeting in 1920 expressed appreciation to the insurance company for its replace- ment of the hundred thousand dollars. Throughout this era, the bank offered savings accounts and provided safe deposit service to individual customers. There were virtually no personal checking accounts as we know them today. Mortgages on real estate were negotiated for terms of two to five years, and monthly payments on principal were unknown. Loans to finance the purchase of automobiles or washing machines were not considered honorable. Loans to businessmen for inventories, remodeling and expansion were popular, and the bank was aggressive in helping to promote the commerce and industry of the growing area. The old farms were disappearing, and blocks of homes and factories were ever rising. (Continued on page 10) Each pay day long lines of Pullman workmen swarmed into the bank to cash their pay checks Center of the business arena, these views on Michigan Ave. were taken about 1903. Some buildings are still standing. Notice the Roseland Theater in the photo at the right. It was one of the first "nickelodeons." Street cars came down Michigan Ave. in 1892. jj| |™ .%>■:■■ ■ : •■i'L Old Pullman boasted these beautiful formal gardens just south of the Florence Hotel, with the water tower in the distance, and workers' homes at right. Seldom is an entire city built at once. Above is the way Pullman must have looked in 1882, although this photo was not made until 1886. Farms and gardens occupied the bottomland from Michigan Ave. to what is now Cottage Grove, with the entire town between there and Lake Calu- met. Water tower, chimney and clock tower are at the left; to the right are Florence Hotel, Arcade and Greenstone Church. Far left photo shows how buildings began to go up along 111th St. by 1890. Later it looked as in the view of the Pullman-Roseland-Kensington Celebration of 1892 with the famous Pullman Band leading a parade. North from 1 1 3th This wonderful Corliss engine exhibited at the Philadel- phia Centennial in 1876 was purchased by Mr. Pullman. Operating day and night, it provided all the power for the Pullman works. Its condensing steam feJ lovely Lake Vista. It was dismantled in 1910 but a model is in the Museum of Science & Industry. After World War I, the bank installed a pill box with guards constantly on duty ( Continued from page 7 ) The historic Arcade building was sold by the Pull- man Estate in 1922 to The Pullman Company to be used for its offices, and the tenants, including the bank, were on notice to move. A committee of the bank board was appointed to select a site and secure plans for a new bank building. Even though The Pullman Company plans for occupying the Arcade did not materialize and the structure was demolished in later years, the bank's plan to move went forward. By the middle of 1923 the board had agreed to purchase the property at 1 1 1 th and South Park. Not till two years later did they finally approve plans to build a modern bank building, with elaborate safe deposit vaults, to cost "not more than $250,000" (although it did cost more) from plans by the famous architect, Howard VanDoren Shaw. The official opening of the beautiful new bank build- ing was on December 6, 1 926. On hand opening day to greet the community, were the officers: Edward Bryant, president; Donald Bryant, vice-president; Edward Sween- ey, cashier; Paul Pearson, secretary and Albert Price, assistant secretary. Also, the directors, David Crawford, Edward Carry, John Runnels, Clive Runnels, Louis Tay- lor, Mark Cummings, Howard Rumbold, Oscar Hill- strom and Henry VanEtten. Eormer Governor Frank O. Lowden delivered an address. The fall of 1928 brought sadness with the sudden death of Edward F. Bryant, after 42 years of service to the bank, 26 of those years as president. Bartholomew O'Toole, a well known local realtor, was elected to Idl bis place on the board of directors in January of 1929. In the two year interval following his father's death, Donald Bryant served as president, but with the immense bank problems of the next few years, and with so much of the bank's money in local real estate, the value of an experienced real estate operator was expressed by the board of directors in early 1932, when they elected Bar- tholomew O'Toole as president. The country was in the grip of the greatest depres- sion ever known, and many banks across the nation were forced to close, their capital depleted and their deposits lost. The bank observed its fiftieth anniver- sary in 1 933, but it was hardly a time for celebration. By a tremendous effort, the directors and officers kept the bank operating through these difficult times without loss to its depositors. As the nation slowly emerged from the depres- sion, the bank began to campaign more aggres- sively for business. Evening hours were established for customer convenience, and home mortgage The pill box guard also had clear access to the bank entrance. No robbery was ever attempted financing under the FHA insurance plan established the bank more firmly than ever as a friend to the personal account customer. The onset of World War II brought tremendous ac- tivity to the community as factories turned to defense work and the weapons of war. Although stripped of much of its manpower, the bank again proved itself equal to the task of the times and emerged from the war strong in size and staff. In 1946 Donald O'Toole was elected a vice president and some months later the stock- holders elected him to the board. There had been growing concern by the U. S. Depart- ment of Justice about the broad activities of The Pullman Company in manufacturing and operating Pullman cars. Eventually the company was required to separate these activities, and in 1947 The Pullman Company disposed of its stock in the bank as well, so that for the tirst time the bank was not controlled by its creator. In post war years the need for new homes, automo- biles and every other form of consumer product was tremendous. To meet this need, management determined to institute large scale consumer loan facilities and to redouble its promotion of FHA and the new Veterans Administration home mortgages. The use of checking .mounts had become popular with servicemen during Id the war, and the adoption of low cost checking facilities increased the number of customers the bank could serve. The addition of personnel to administer these cus- tomer services rounded the officer staff and provided a new kind of bank management which has since proved its value. Other communities lacked complete banking facilities and Pullman's staff could manage greater re- sponsibility. Why not ex- tend these services through other banks? Accordingly, in 1947 the State Bank of Blue Island was purchased, and in August, 1948, Standard State Bank was organized. Bartholomew O'Toole was named presi- dent of all three banks and Donald O'Toole vice pres- ident. Thus was born the Pullman Banking Group. Bartholomew O'Toole President 1932 to 1956 In 1955 the bank's re- tirement program became effective as Paul E. Pearson, who was 1st vice president and secretary, retired after more than 50 years of service to the bank. Later that year, it was Albert Price, another vice president who retired after more than 43 years with the bank. In January, 1956, Donald O'Toole was elected presi- dent, while Bartholomew O'Toole was elevated to the chairmanship. On April 4th, the elder O'Toole passed away, after guiding the destinies of the bank for 24 years. Under his wise and vigorous leadership, the bank had grown from total assets of 3 million to almost $67,000,000. And assets of the three banks were approaching $100,000,000. From its modest beginning as a savings institution for Pullman's workmen, the bank had witnessed the growth of its community to include expanding local industry and branches of America's industrial greats. The area became a center for steel and steel fabrication, and the role of railroads was paramount in its development. Now, in the postwar years, international commerce increased in importance, as foreign ships began to ply the Great Lakes regularly. Tremendous impetus to this trade came with legislation creating the Port of Chicago, and today its facilities on Lake Calumet presage an even more dramatic future and a change in the basic economy of the area. Today the bank stands strong and firm on the thresh- old of great new opportunity. In this, its 75th year, the bank manages assets of 75 million, and its influence in the community is immeasurably greater. Donald O'Toole, now president of Pullman Trust and Savings Bank To all in our community who have placed their trust in this bank, and whose support has made pos- sible our celebration in attaining this milestone, our thanks. We pledge that we shall remain ever ready to provide the greatest number of services, at reason- able cost, that are possible within the bounds of safety of the funds of our depositors and our share- holders. We will always retain a deep and active interest in this, our community. The march of progress finally proved too much for Lake Vista and, filled with sand, it became the basis for Cottage Grove Avenue 11 IMDUSTtlAl DltTIICT THE WORLD'S LARGEST DISTRIBUTION CENTER Building Today for a better Tomorrow OEVENTY-FIVE YEARS ago our community depended al- ^ most entirely upon a single employer. Today we man and supervise every kind of enterprise save that of mining. Steel and the fabrication of steel remain the basis of our communi- ty's wealth, for many purposes and for many employers. The advantages of water, metal supply and, most important, trans- portation, brought both factories and artisans here. Today we melt and temper and shape and cut and weld steel, and in this work our community is the best in the world. Chicago's wealth and growth have resulted in a large part from improvements in transportation. George M. Pullman, his town and his bank, prospered because of the development he brought to the railroads. Today our community enjoys the same advantages of location for transportation by rail, and now by superhighway and water as well. And here lie unfath- omed problems of the future. Today, millions of vehicles move across the nation. Our highways, greatest in the world, are not equal to the task, and so we build even greater roads, the superhighways. These wonderful avenues serve our community well, but they foster problems which the community must consider. The tremen- dous increase in traffic may threaten the beauty and the strength of our residential areas. The effect of such creeping erosion is not dramatic, but it could choke off the vitality of our neighborhoods and blight our future. The development of Lake Calumet into a harbor capable of handling ocean vessels had long been a dream of men in our area. The first recommendation of record is the favorable report to Congress filed in 1836 by Lt. Jefferson Davis of the U. S. Corps of Engineers. Davis, who went on to become president of the Con- federacy, saw the value of such a harbor in developing the great heartland of the Midwest. The unique character of today's port at Lake Calumet develops from its location at the confluence of deep water shipping and already proven shallow water barge traffic. Passage by natural rivers and man-made channels provide a direct connection with the Mississippi River system and its commercial facilities all the way to New Orleans. Truck facilities now planned for the Port will be superior in design and size to similar terminals in other major ports in the United States. The development of international trade in our area, the installation of docks, buildings and equipment to load, land, transfer or transship all the goods which pass through the terminal, the policing and administration of all these facilities requires a new and greater kind of authority. Before, we were able to progress within the restrictions and authorities of two states, of counties, cities and towns. But the problems of this infant giant may well overtax the ability of these separate authorities to provide continuing and adequate control. A properly constituted port authority established to organize and direct all aspects of transportation in the area, with police power, may be expected to establish proper control of our resource of water. This water, so vital for transportation, production, and for sewage for our individual use as well, is now not in control. Peri- odically we are faced with shortages in our suburban community, and heavy rainstorms threaten our homes more and more each year. This control of our port as an economic unit, this control of the resource of water, concern our community. One of George Pullman's objectives was the organiza- tion of a school to educate the youth of his town. As provided in his will The Pullman Free School of Man- ual Training was established and for many years ren- dered great service to the community. Eventually its capital proved inadequate and the school closed. Mean- time the Chicago Public School system reached into the town and today fulfills our needs. But what of the future.'' With renewed and vital interest in scientific education, and the increasing number of school children throughout our community, the adequacy of facilities, the availability of teachers and related problems in- crease. And this is not simply a problem for parents, but concerns employers and property owners as well. The strength of Pullman Trust & Savings Bank, its traditions of growth and profit .ire the result of careful planning and aggressive leadership. The men who so designed its structure and nurtured its growth were interested in the community and its future. Once our community consisted of a few thousand families and a handful of merchants. Today our com- munity embraces tens of thousands of families and myriad kinds and numbers of businesses. Once re- served the towns of Roseland and Pullman, far removed from tumultuous young Chicago. Now our community extends through a vast and virile part of that city, and a dozen suburbs as well. The heart of our business, of course, will always be in our immediate area. Here is peculiar strength, for it is unusual that an urban area so mature should have retained its beauty and vigor. Pullman was once a com- pany town of excellent but simple design, separated by a mile from a rural community that was Roseland. To- day they overreach one another and blend both new and old homes of many styles. In the early days there were a few fine homes, but most were frame cottages and, of course, the red brick partywall houses of Pullman. Al- most all of these remain today, but the farms of yester- year have given way to areas of fine homes, even to the tri- level and ranch home of today. The shops and stores, the factories and warehouses of industry have changed, too, as many more small plants spring up and larger employers add new wings, buildings, even entire plants to house the facilities for today's expanded needs. The future is even more promising than it appeared to the man who organized our bank seventy-five years ago. The problems which face the leaders of today can be solved, just as solutions to their problems were de- veloped by the leaders of 1883. It shall be our role to present these problems to you who make up our com- munity. Over the period of coming months we shall bring them before you; you may discuss and advise and resolve these questions so that we who enjoy life in our great community may have an even better tomorrow . Many of the old buildings of the "works" have been torn down. But one of the most interesting, the old clock tower at 110th St., and Cottage Grove Ave., still ticks off the minutes, hours, days and years, just as it has since the Pullman Palace Car Shops were built by Solon Spencer Beman for George M. Pullman in 1880. The view from its western facade was then very lovely, for it faced beautiful Lake Vista and the open farm land to the west, all the way to Michigan Avenue. Fed by condensed steam from Pullman's great and spectacular Corliss engine, Lake Vista was later filled with sand over which Cottage Grove was laid. The quiet beauty of lake and parkway was gone forever. A Roseland Landmark at 115th and Michigan Long before there was any- thing but swamp along Lake Calumet, Michigan Avenue in Roseland was beginning to develop into the business section of a thriving community. This ornate building was typical of the period, but is quite unique as it stands today among more modern struc- tures. The Byzantine dome projecting high above the street is visible far down the avenue. PULLMAN TRUST & SAVINGS BANK 11 1TH and south park avenue CHICAGO 28. ILLINOIS BULK RATE U. S. POSTAGE PAID CHICAGO, ILL. Permit No. 2581 Market Hall Circle In the center of the old town of Pullman, unique in de- sign and use, stood this remarkable building at 1 1 2th and Stephenson Ave., ( now Champlain ) . Surrounded by four curved apartment units, Market Hall was a three story "shopping center." The first floor housed a shoe store, a tavern, ice cream parlor, clothing store, Cald- well's drug store, Banner's Market and E. E. Thompson's grocery. Delivery to and from these stores was, of course, by horse drawn wagon. On the second floor was a large floor area used for danc- ing, wrestling shows, boxing and theatrical presentations. The third floor was called the "Lodge Hall" and every- one climbed the stairs to attend meetings there. The top floors were removed in L937, but the first floor still stands in rather forlorn remembrance of "the good old days," surrounded by the four apartments, still occu- pied by families who claim "these buildings are the best ever constructed."