Advertisements from yester-year and ghost signs around Cincinnati: If they're not fading away, they're covered up, or the buildings they're on are torn down.
I read that the company was originally called Germania, and so this building was known as the Germania Building, and the figure was Germania herself. Everything was re-branded Columbia due to anti-German sentiment. More info here, and interesting tile I spotted in the entryway here.
I should really do more homework instead of relying on my faulty memory.