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AKA: Horton, Dexter, and Company, Bank, Headquarters Building #3, Pioneer Square, Seattle, WA; Maynard Building, Pioneer Square, Seattle, WA
Structure Type: built works - commercial buildings - office buildings
Designers: Carkeek, Morgan J., Building Contractor (firm); Olson / Walker Architects (firm); Wickersham, Albert, Architect (firm); Morgan James Carkeek (building contractor); James W.P. Olson (architect); Gordon Kendall Walker (architect); Albert Wickersham (architect)
Dates: constructed 1892
5 stories
Overview
Completed in 1892, the Dexter Horton snd Company Bank Building #3 stood on the northwest corner of Commercial Street (later renamed 1st Avenue South) and Washington Street. The Dexter Horton and Company Bank Building #3 changed its name to the Maynard Building by at least 10/1906.
Building History
This was the third bank building occupied by the Dexter Horton and Company Bank on this site.
IL-born merchant and banker Dexter Horton (1825-1904) founded his bank in 1870, and operated it until 1887 when it was purchased by William S. Ladd (1826-1893) of Portland, OR. Vermont-born Ladd, migrated to Portland, OR, by 04/1851 and founded Oregon's first bank, the Ladd and Tilton Bank, in 04/1859. Ladd developed highly diversified commercial interests in Portland, in the process becoming one of the city's most influential businessmen and philanthropists. The connection between Horton and Ladd provided the former's bank a firm foundation in two growing Pacific Northwest cities, an advantage over competitors. After his death in 1895, a son, William Mead Ladd (1855-1931), became an officer in the Seattle institution.
A Dexter Horton and Company Bank advertisement in the Seattle Post-Intelligencer of 09/20/1888, indicated that the bank had been incorporated in 1887, and had deposits of $200,000.Its managers included W.S. Ladd, President, A.A. Denny, Vice-President, J.P. Hoyt, Manager, and B.F. Briggs, Cashier. The bank could accomplish sight exchange and telegraphic transfers with other institutions in “New York, Chicago, Saint Paul, San Francisco, Portland, and various points in Washington, Oregon and British Columbia. Sight Bills of Exchange on London, available elsewhere in Europe.” (See Dexter Horton & Co. Bankers advertisement, Seattle Post-Intelligencer, 09/20/1888, p. 3.)
After Ladd's death in 1895, officers of the Dexter Horton and Company Bank included A.A. Denny, President, W.M. Ladd of Portland, OR, Vice-President, N.H. Latimer, Manager, and F.R. Van Tuyl, Cashier. (See Polk's Seattle Directory Company's Seattle, Washington, City Directory, 1895. p. 404.)
According to a newspaper classified ad of 03/16/1905 (p. 14), it was, at that time, the "Oldest Bank in Washington." The firm served as the Seattle agents of the Bank of British North America. In 1905, W.M. Ladd served as President, R.H. Denny, Vice-President, N.H. Latimer, Manager and M.W. Peterson, Cashier.
Rolland Herschel Denny (1851-1939) was the second of three children of Seattle pioneers Arthur A. Denny (1822-1899) and his wife, Mary Ann Boren Denny (1822-1910), and had the distinction of being the first white child born in Seattle. (See "Seattle Builder's Edition," Google Books, accessed 07/25/2012.) R.H. Denny was a very active businessman, active in water, brick-making, banking and railroads. Both Latimer and Denny were listed as officers in the Grant Street Electric Railway Company, a small electric line that had 6.5 miles of track in 1910.
In 1908, an executive of the Dexter Horton Bank, N.H. Latimer spoke to the banking journal, Commercial West, about the relative health of Seattle's economy: "Explaining his reasons for the faith he has in the Pacific northwest, N.H. Latimer, manager of the Dexter Horton & Co.'s bank said: 'This section is rich in diversified resources and is not dependent upon one crop or the turn of the cards on one thing. In addition to our resources we produce so much virgin gold that it keeps the situation relieved. Hence we were the last to feel the effects of the depression and will be the first to see it disappear." (See "Good Year in Seattle," Commercial West, vol. XIII, no. 1, 01/04/1908, p. 19.)
Building Notes
A number of architects had their offices in the Dexter Horton and Company Bank Building #3/Maynard Building, including the building's designer, Albert Wickersham, (from 1893-1894 and 1905-1908).
Alteration
The Maynard Building underwent a thorough renovation c. 1974. Interior rooms were rehabilitated, the exterior cleaned and its structure seismically reinforced. The American Institute of Architects, Seattle Chapter, bestowed an Honor Award for the restoration effort, supervised by Olson/Walker Associates.
PCAD id: 4916
