Callanan was a native of Albany, N.Y. He received his education at Oneida Conference Seminary and started a law practice in his home town. In 1857 he formed a banking partnership with Andrew J. Stevens and Schuyler R. Ingham of Des Moines, Iowa. The partnership was launched in June 1857 as Andrew J. Stevens & Co., then continued under the name of Callanan and Ingham in August 1857. In 1863 Callanan moved to Des Moines to oversee his financial and real estate investments. Over the years he achieved prominence as a member of the Des Moines financial community as co-founder of the Hawkeye Insurance Co., president of Capital City Bank, and stockholder/director of the Citizens' National Bank and Iowa Loan and Trust Co. In addition to his banking activities Callanan was an organizer and promoter of the Des Moines and Minneapolis Railroad Co. and helped establish Callanan College, a teacher training college, which eventually became foundation for the College of Education of Drake University in Des Moines.
From the description of James Callanan, Jr. papers, 1841-1864. (State Historical Society of Iowa, Library). WorldCat record id: 351881812
