Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.], Part 62

Author: Goodspeed, firm, publishers, Chicago. (1886-1891. Goodspeed publishing Company)
Publication date: 1889
Publisher: Chicago, St. Louis [etc.] The Goodspeed publishing co.
Number of Pages: 826

USA > Arkansas > Faulkner County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Garland County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Grant County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Hot Spring County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Jefferson County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Lonoke County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Perry County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Pulaski County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62
USA > Arkansas > Saline County > Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.] > Part 62

Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).

The First National Bank is the present United States depository. No history of the city, or even the State, would be complete without a mention of this prosperous financial institution. It is the old- est incorporated bank and the first national bank established in the city, having been organized as the Merchants' National Bank in 1866, with a capi- tal stock of $100,000, which was increased to $150,000 in July of the same year, and in Septem- ber, 1882, the stock was further increased to $250,000, and it now has a surplus fund of $66, 000, besides its elegant banking house on the corner of Main and Markham.

This bank first occupied a rented frame build- ing. It has not only grown with the growth of the community, but is now well-established in its own building, the most handsome bank building in the

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State, with every inch of its space made available and most conveniently arranged for the transaction of its immense business.

No other corporation in the State has excelled this bank in aiding the advancement and material growth of the community. Its strong helping hand has ever been ready to advance every enter- prise needing and deserving encouragement. Yet with all this praiseworthy liberality it has been most carefully and judiciously managed. The sworn statements of the banks published in our midst show that the First National Bank has the largest available resources of any banking institu- tion in the State.

The board of directors embraces the very best financiers in the State. Col. Logan H. Roots, its president, is a synonym of success. William B. Wait, the vice-president, has been a prudent and honorable business man in the community for more than fifty years, while N. Kupferle, the second vice- president, is a careful business man, who has amassed a haudsome fortune in various branches of business. The polite and affable cashier, Maj. P. K. Roots, is thoroughly conversant with the bank in all its departments, and blends excellent business qualifications with sterling manhood and courteous manners. A. A. Mandlebaum, assistant cashier, is well known, and like the cashier is far-famed for thorough-going and careful business qualities. In fact the entire corps of employes are gentle- men of experience and efficiency as their names clearly indicate: W. C. Denney, teller; F. C. Wheeler, draft clerk; J. G. Botsford, collector; Harry Hennegen, discount clerk: R. O. Hopkins, book keeper; George B. McLaughlin, currency clerk; John T. Hoover, book-keeper; R. H. Thomp- son, outside collector; Ed L. Brown, messenger; C. H. Yost, book keeper; W. P. Davison, stenog- rapher.

It is perfectly natural that an institution pos- sessing such superior facilities should satisfactorily serve the great number who entrust their funds to its management.

The German National Bank is probably the largest financial institution in the State, and the following history of it will be found interesting:

The German Savings Bank, incorporated un- der State laws, began business April 16, 1873, with a capital of $50.000. Mr. Charles F. Penzel was president and Mr. Creed T. Walker cashier, the stockholders comprising most of the solid business men of that period in the city. In this first period of its history deposits ran from $75,000 to $150. - 000. After nearly five years' business under this style, the charter was amended, changing the name to the German Bank, and increasing the capital stock to $75,000, the same efficient officers re- maining at its head. Deposits at this time ran from $150,000 to $200,000. On September 1. 1882, the capital stock was increased to $250,000, and was all paid in by February following. De- posits immediately increased to $44,000, and steadily grew for two years, when the figures had risen to $625,000. During this latter period, or from January, 1883, to January, 1885, Mr. Daniel G. Fones was president of the bank. The de- mands of his private business became so pressing that in January, 1885, Mr. Fones retired and was succeeded by Col. John G. Fletcher, who has since continued at the head of the bank. The bank, having firmly established itself in the confidence of the people of the entire State through its con- servative policy and the well-known high character of its officers and directors, determined to place an additional safeguard around its affairs by convert- ing from a State to a National institution, and accordingly on March 16, 1885, the German Bank was succeeded by the German National Bank, with a capital of $200,000. The same year it was selected as a depository for Government funds.

The great prosperity and steady growth of its business has continued until it now usually exceeds a million dollars, and the bank has a paid up capi- tal of $300,000, with a surplus of $75,000.

This bank claims to have done much toward establishing the credit of the State of Arkansas abroad, through showing its confidence in the State securities by loaning the State on its own bonds in 1883 the large sum of $150,000.

The well-known president, Col. John G. Fletch- er, is the only member of the present directory who has been retained uninterruptedly on the board

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from the inception of the bank. It is almost need- less to say that he has been a large factor in its eminent success. On the 1st day of January Mr. Creed T. Walker retired from the office of cashier, which he had filled for fifteen years, and was suc- ceeded by Mr. Oscar Davis, who had been for a number of years with the bank as teller, and who has fully sustained the prestige of the institution, which this short sketch shows the growth of, from a small country bank to a metropolitan institution, with clearances of $80,000 yearly.

Col. John G. Fletcher, the able president of this institution, stands high in the financial circles, not only of this State, but elsewhere, and is a gentleman whom it is a pleasure to meet. Mr. Oscar Davis, the gentlemanly cashier, may be truly said to be a man who is "all business," socia- bility, generosity and caution. He is the right man in the right place. The directory consists of well-known business men, whose names would be a tower of strength to any institution, being: John G. Fletcher, D. G. Fones, James R. Miller, J. T. W. Tillar, Isaac Wolf, R. A. Little, George H. Stratman, M. Katzenstein and John L. Hughes; while the employes were all selected for their efficiency, and are as follows: John G. Fletcher, president; Oscar Davis, cashier; C. G. Fones, vice-president; E. T. Reaves, assistant cashier; William Pollock, paying teller; J. B. Snttler, re- ceiving teller; Richard Mills, note teller; L. B. Curtis, P. C. Savage and J. J. McEvoy, book- keepers; A. S. Reaves, collector, and Miss Lillie Hickey, stenographer.

The Exchange Bank, which is now the Ex- change National Bank, began business April 11, 1882, with a paid-up capital of $80,000, with W. P. Homan, president, R. A. Edgerton, vice presi- dent, and J. S. Pollock. cashier. In December, 1884, the capital was increased to $100,000. In January, 1885, steps were taken to incorporate it into a national bank, and on February 4, the comp- troller of the treasury authorized the Exchange Bank to assume the name of Exchange National Bank, and begin business under the national bank act. Charles F. Pensel was elected presi- dent, and J. H. McCarthy was elected vice-presi .

dent, and J. S. Pollock, cashier. In January, 1888, J. H. McCarthy was elected president, A. P. Howell, vice-president; J. S. Pollock, cashier, and J. W. Mandlebaum, assistant cashier. In Jan- uary, 1889, the stockholders held a meeting and authorized an increase of capital stock to $200,000, which was effected on February 1, 1889.

Since the organization of this bank there has been a steady and constant increase in its business. The fact that on February 1, when new stock was issued, nearly $40,000 which had been accumu- lated as a surplus was divided among the stock- holders, is an undisputable evidence of the pros- perity of the institute. The employes of the bank, from president to janitor, pride themselves upon their business capacity and their polite attention to customers.

The directors are sound financiers, noted for their ability in commercial circles and their high standing in the city. They are Charles F. Penzel, W. P. Homan, A. P. Howel, J. H. McCarthy, Phillip Pfeifer, C. H. Whittemore, W. J. Turner, J. M. Moore and James Joyce. The following gentlemen constitute the personel of the bank: J. H. McCarthy, president; A. P. Howell, vice-presi- dent; J. S. Pollock, cashier; J. W. Mandlebaum, assistant cashier and teller; J. W. Bartling and C. F. Shillaber, book-keepers; H. B. Pollock, collec- tor, and James Keatts, runner.

The Bank of Little Rock is incorporated under the State law, and was opened for business on February 25, 1889, with a subscribed capital of $500,000, $300,000 of which is paid up, and the remaining $200,000 is subject to the call of the di- rectory at any time. This bank has alrea ly built up a large clientage, which is rapidly increasing under the influence of its present management. The bank is managed and controlled by the fol- lowing staff of officers and directors: Charles J. Lincoln, president; Charles Benjamin Wilkinson, vice-president; C. T. Walker, cashier; G. F. Bau- cum, John F. Boyle, W. E. Tobey, D. G. Fones, Joseph Wolf, C. B. Field, H. P. Churchill and Charles N. Fowler. Dr. Lincoln, the president, was for many years vice-president of the German National Bank of this city, and is also president of

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the large wholesale drug house of the C. J. Lincoln Company. He is one of our most active and suc- cessful business men. Mr. Wilkinson, the vice- president, is one of the many wealthy men of high standing for integrity and conservatism of that city of brotherly love, Philadelphia. Mr. Wilkinson is vice president of the Equitable Mortgage Com- pany, of New York, one of the wealthiest corpora- tions in that great city. Mr. Walker, the cashier, has been so long a resident of this city, as cashier of the German National Bank (which institution he organized as a State bank in 1875, and remained with it through all its changes and successes to January 1, 1889) that his name is known in almost every business house in the State, and is familiar, especially to the banking fraternity, in all parts of the country.

Messrs. Baucum, Boyle, Tobey, Fones, Wolf and Field are all men of prominence in the busi- ness circles of our city, each being engaged in active mercantile pursuits, and all very prominent in their respective lines. Mr. Churchill is the president of the Kansas City Safe Deposit and Sav- ings Bank, and a gentleman of prominence and influence in the financial circles of that most won- derful of progressive cities. Mr. Fowler is the president of the Equitable Mortgage Company, of New York, already mentioned in connection with Mr. Wilkinson. This being a company of $2,000- 000 capital, to be at the head of it is sufficient evi- dence of the ability and standing that is com- manded by Mr. Fowler. An institution in the hands of such a management, and backed by such men, can not do otherwise than succeed and com- mand the fullest confidence and support of the citizens of our city and State.

The employes of this bank are as follows: C. J. Lincoln, president; C. B. Wilkinson, vice presi- dent; C. T. Walker, cashier; M. H. Johnson, sec- retary : L. A. Battaile, teller: Miss I. B. Davis, stenographer; D. C. Jordan, general book-keeper; T. W. Yeakle and H. A. Rowe, individual book- keepers, and S. E. Reed, collector.

There are two other banking houses in the city, both private banks.

In 1869 W. B. Worthen became interested

with D. F. Shall, in the real estate business, as a clerk. After the death of Mr. Shall (who was killed in the Brooks-Baxter war) Mr. Worthen formed a partnership with Gordon N. Peay, in the real estate and brokerage business, and in 1876 he went into partnership with E. W. Parker, con- solidating the business of both, and forming a banking, brokerage and real estate business second to none in the State. Afterward, on January 1, 1888, the partnership was dissolved, and the bnsi- ness carried on under the firm name of W. B. Worthen & Co., with P. C. Ewing, chief clerk; Gordon N. Peay, teller; W. C. Tunnah, book- keeper, and Hardaway Bein, collector. The firm has ample capital and the confidence of the entire community.

Ed. W. Parker, formerly in partnership with Mr. Worthen, opened a private bank on Markham Street, in July, 1888, under the name of Ed. W. Parker & Co. This bank does a general banking and brokerage business, negotiates long and short time loans, and buys and sells real estate on commission. W. F. Cates is the" polite cashier, and the bank is in a prosperous condition.

Little Rock has become a manufacturing city, and its recent growth and rapid development is due largely to this fact. The manufacturing es- tablishments employ large numbers of men, thus increasing the population and also the home market. The manufactured articles, in excess of the home demand, are sold and shipped abroad, and in return, capital rolls back to Little Rock, where it is reinvested in business and the building up of the city. Following are brief historical sketches of the principal manufactories of the city, including also Argenta:

The Little Rock Oil and Compress Company was organized in 1877, with E. Urquhart as presi- dent, and W. H. Wright, secretary. The stock- holders were citizens of Little Rock, Memphis and elsewhere. They erected the oil mill in East Little Rock, at a cost of $225,000. The main building is a two-story brick, abont 300 by 600 feet in size, and the storage building is a one-story frame, 100 by 300 feet in size. The mill is fitted with the most improved machinery, and was the first cotton-

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seed-oil mill erected in Arkansas. After the oil is pressed out of the cotton seed, a portion of the cake is shipped to England and used in feeding cattle, and a portion is ground at the mill into meal and sold for feed or fertilizing matter. Harry F. Eberts is superintendent, and in the run- ning season the mill employs about 175 men. Its capacity is 150 tons of cotton seed every twenty- four hours.

In 1880 the company built an oil mill iu Ar- genta, the plant covering about five acres, and being one of the largest cotton-seed-oil mills in the South. It has a capacity of working 175 tons of cotton seed per day of twenty-four hours.

Mr. Eberts is also superintendent of this mill. In busy seasons it employs 225 men, and its ship- ping facilities are such that it can unload twelve cars of cotton seed at one time. In 1881 or 1882, the company erected the brick cotton compress at Argenta, the entire plant covering about three acres. It has a capacity to compress 800 to 1,000 bales per day, if ruu on full time. In 1888 this compress worked about 45,000 bales. About seventy-five men are employed at this plant, W. C. Dotterer is superintendent. In 1884, the com- pany erected a compress at the front of Main Street, in Little Rock, of like size and capacity of the one at Argenta. In November, 1884, it caught fire and burned down, together with 4,000 bales of cotton stored therein. In the burning of the building and machinery, the company lost about $30,000. At this time they had in process of con- struction the handsome and new compress in East Little Rock, which is said to be the largest one in the United States. The buildings and yards of this compress cover about eight acres. There is storage capacity for 30,000 bales. In 1888 about 50,000 bales were compressed. It has a capacity similar to that of the Argenta compress. W. C. Dotterer is also superintendent here. This com- press (alone) is the joint property of the Little Rock Oil and Compress Company, and the Union Compress Company. It is valued at $150,000, of which each company owns one- half. The com- pany's entire plant, both in Little Rock and Argenta, cost about $613,250. This includes

thirty-six acres of land in Argenta, and real estate at the foot of Main Street, together with their property in Russell's addition. The present offi- cers of the company are E. Urquhart, president; W. H. Wright, vice president and manager, and H. P. Johnson, secretary and treasurer.

The Little Rock Oil and Compress Company is one of a syndicate of ten mills in Arkansas, in which the Hurricane Cotton Oil Company is inter- ested, with headquarters in New York City. Mr. W. H. Wright is manager for the State of Arkan- sas. The oil mills in Arkansas distribute over a million of dollars annually in the purchase of cotton seed, which only a few years ago was looked upon and treated as worthless rubbish. The offices of the company are in the John D. Adams building on East Markham Street, where they have been recently fitted up in elegant style. The secretary, Mr. Harry Johnson, is a most affable gentleman, and highly respected by all who know him.

The Southern Cotton Oil Company was organ- ized in the spring of 1887, in Philadelphia, Penn. They built and equipped eight mills, and began operations in the fall of the same year-a stroke of push and business enterprise almost unprece- dented. One of these mills is located in East Little Rock on grounds donated by Hanger, Rat- cliff, Hornibrook and Townsend. Ten acres more have been purchased to provide for an extension of the business. Mr. J. J. Culbertson, formerly of Paris, Texas, was made manager of the business. The buildings are of wood and cover a space of ten acres, including the cattle sheds. The ma- chinery is all new and of the most approved pat- terns of the latest construction; a Corliss engine of 500 horse-power, the largest in the State, has recently been put in. In connection with the oil mill proper. the company feeds about 3,000 head of cattle each year on the cotton seed meal and hulls. Most of the product of the mills, the oil and meal, is exported. Samples of the crude and re- fined oil manufactured in this mill can be seen at the rooms of the State Bureau of Immigration in the capitol building. The capital invested in this mill is about $250,000, and the business amounts

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to half a million annually. The season lasts from October 1 to April 1, during which time 150 hands are employed. The oil from this inill has an ex- cellent reputation either for home consumption or exportation.

The Thomas Cotton Works, D. H. and Dr. A. D. Thomas, proprietors. These works are literally a Little Rock production. Of all the manufactur- ing establishments within the limits of the "City of Roses," there are none in which the citizens take greater pride than that referred to in this article. The cotton press they manufacture was conceived and patented from this city; the business was first established here, and all the presses have been made here; the works are located here, and give employment to over half a hundred of the citizens; sales are made all over Arkansas and the adjoining States, and the money brought here to be paid out again, and Little Rock receives all the benefits therefrom. Consequently the citizens are proud of this enterprise, and unanimously endeavor to see it prosper.

Reverting to the facts of the business, the Thomas Cotton Press is a perpendicular cylinder of cast-iron, and was patented by Dr. A. D. Thomas. In 1886 he, with his younger brother, D. H., es- tablished the present business in an old ten-pin alley on West Markham Street, where they remained one year. During their stay there about six or eight men were employed, all the castings were bought, and about thirty presses made. The sec- ond season the firm rented the Eagle Foundry and Machine Shop, on East Second Street, where they stayed over a year, and made about 100 presses. The castings were also purchased this second year. The superior advantages of the new press over the old kinds increased the business to such an extent that new and commodious quarters were found necessary. Consequently the firm purchased three acres of the old Hanger farm, in East Little Rock, on the Valley Route Railway, where they erected a handsome brick shop, 50x250 feet in size, with boiler room, 18x24, and a frame paint shop and wood working room adjoining. 30x150. Here fifty to sixty-five men are daily employed in manufact- uring and putting together the famous cotton

presses, and also turning out castings of all kinds and doing every conceivable description of repair work. The firm also makes a specialty of the Williamson wood-rim pulley, which is self-locking in the shaft, and meeting with much favor. The firm owns its switch-tracks and dummy engine. The business has had a success unprecedented in the history of any manufacturing firm in the South- west. From thirty presses in 1886, to over 200 in 1889, the firm have gained both fame and a com- petency. They have been hard and indefatigable workers, and deserve their reward.

C. E. Rosenbaum is one of the best known manufacturer's representatives in Arkansas. For fourteen years he was a traveling agent for the famous Atlas Engine Works, of Indianapolis, Ind. In February, 1883, he decided to locate in Little Rock, where he could have a "hub" centering point for all his spoke-like trade. His busines has increased each year, and his success is commen- surate with his efforts to represent his firms in a creditable manner. He also looks after the inter- ests of the N. O. Nelson Manufacturing Company, of St. Louis, in Arkansas, and these two interests keep him constantly busy. The Atlas Engine Works are builders of engines and boilers of all sizes, exclusively, while the N. O. Nelson Manu- facturing Company manufacture all kinds of ma- chinery and machinist and plumber's supplies. There is no man in Arkansas who is more clever than "Charlie" Rosenbaum, as his successful trade annually demonstrates.

The Eagle Cotton Ginnery and Pickory is located on the Valley Route, in East Little Rock. Fred Hanger is proprietor and H. D. McCowan superintendent and manager of the works. The buildings consist of a three-story frame, 40x60 feet in size, two frame cotton storage houses, one of which is one-story high and 25x75 feet in size, and the other 75x100 feet in size and twenty-four feet high; also a one-story frame boiler house forty feet square. All these buildings have gravel roofs, and are veneered on the outside with one thickness of brick. The proprietor of this factory handles from 4,000 to 6,000 bales of cotton per season, and after the ginning season is over, he handles

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refuse and dusty cotton from cotton buyers, and oil mill refuse. This is put through beaters and cleaners until it comes out clean and free from dust. It is then graded and baled and goes to make paper stock, felt hats, batting, wadding, etc. The machinery is of the latest improved patterns, and the entire plant is valued at $30,000, and is the most complete establishment of its kind in the Southwest. It occupies about two acres of ground. The machinery is operated by an Atlas automatic engine of seventy-five horse power.

The Arkansas Granite Company, of Little Rock, was organized in March, 1889. The quar- ries are in the Fourche Mountains, two miles south of the city, and near the Valley Railroad, where the company has a half-mile of side track. The granite is known as blue syenite. They also quarry a stone known as gray syenite, in the same territory. About ninety per cent of the granite used in paving the streets of Little Rock are from these quarries, where about 250 men are employed, with the latest improved hoisting ma- chinery. The granite is said to be superior to any known granite now in America. It has stood a test of 23,010 pounds to the square inch, showing a crushing strength far above the Quincy, as the latter crushed at 17.750 pounds to the square inch. The company is now supplying Memphis with granite for paving its streets, and furnishes material for buildings and for monuments, which partakes of a high grade of polish. The Catholic Cathedral is built of the gray granite, and the Pulaski County court house of the blue granite. Lately the company has received an order from the city of Louisville, Ky., to furnish all the granite for paving the streets of that city. The company was organized with a capital of $100.000. The officers are Zeb Ward, president; George McLeary, vice president; Fred Hanger, secretary and treas- urer, and F. G. Lemons, superintendent.

The Union Machine Works and Foundry was established in July, 1885, between Markham and Second Streets, in a little shop, with a foot-lathe, and did general repairs. The business increased "right along" -"more than thribbled itself every year"-until now the dimensions of the shop are

50x90 feet in size, and a story and a half in height. The lower floor is used for machine shop, and the upper for pattern storage-room. Some fourteen men are employed in the shops, and the business consists of general repairs of all kinds of machin . ery. Mr. E. C. Wehrfritz, the proprietor, has had for two years a contract with the Dudley E. Jones Company, of this city, to manufacture for them their Sailor's Cotton Blower, a very useful and widely used machine. The business has increased from about $4,000 the first year to $30,000 a year, and this in a period of only four and a half years. The work is under the personal supervision of the proprietor, a practical machinist, whose success results from his energy, perseverance and strong business qualities.

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Biographical and historical memoirs of Pulaski, Jefferson, Lonoke, Faulkner, Grant, Saline, Perry, Garland and Hot Spring counties, Arkansas, comprising a condensed history of the statebiographies of distinguished citizens...[etc.], Part 62

Author: Goodspeed, firm, publishers, Chicago. (1886-1891. Goodspeed publishing Company) Publication date: 1889 Publisher: Chicago, St. Louis [etc.] The Goodspeed publishing co. Number of Pages: 826

Author: Goodspeed, firm, publishers, Chicago. (1886-1891. Goodspeed publishing Company)
Publication date: 1889
Publisher: Chicago, St. Louis [etc.] The Goodspeed publishing co.
Number of Pages: 826