Thank you for the feed back spitts6! I do not know of any other elm species has this unique character on their barks. From what I have observed, its flowers are also axillary as you have stated: “attached directly onto each limb”. Chinese elm has numerous cultivars and some sub-species, depending on which, the tree shapes can be vary, some of the forms are weeping, vase-shape with upright branches, and round headed canopy with broad, spreading pendant branches. Flowers colors can be different too. If your Google for its barks, you can see a wide variation depends on its ages and cultivars. Link below include a list for cultivars. Best wishes! http://www.public.asu.edu/~camartin/plants/Plant%20html%20files/ulmusparvifolia.html This link is for its flowers. http://www.uaex.edu/yard-garden/resource-library/plant-database/trees/chinese-elm.aspx

I looked up pictures of Chinese elm. Three differences in that and my tree: bark and shape of trunk are not the same, blooms are white on my tree and not reddish at all, and blooms on my tree are attached directly onto each limb, not onto little shoots like the Vhinese elm. But maybe it’s a type of elm?????

Looks like Chinese lacebark elm (Ulmus parvifolia). http://www.missouribotanicalgarden.org/PlantFinder/PlantFinderDetails.aspx?kempercode=c158