USA > Colorado > History of the State of Colorado, Volume III > Part 18
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streets. At this point the principal traffic in hardware, etc., was concen- tered until 1884, when a much larger and finer structure was built on Arapahoe between Sixteenth and Seventeenth streets, and is now the largest concern of its class in Colorado. He was a member of the Board of Aldermen from 1863 to 1865. Mr. Tritch is an extensive holder of real property and some valuable buildings, notably that on the corner of Sixteenth and Curtis streets, and another recently built at the corner of Seventeenth and Arapahoe, and is very wealthy. In all his career in this country, more especially during the past two decades he has been a close and extremely sagacious observer of events in trade, is a firm believer in and has guided all his business affairs upon the theory
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which has now become an established axiom, that all lines rise and fall during cycles or periods of eight to ten years, very much as the com- mercial prophet, Benner, has defined it in his book of prophecies issued in 1875 and again in 1885, with diagrams exhibiting the fluctuations in staple products of the country at different times during the past sixty years. He has traveled somewhat extensively in Europe and is at this time virtually retired from the active pursuit of traffic, occupying his time in supervising his very large estate. In 1884, when the hardware trade was shaken to its foundations by the financial distress of that year, and two of his contemporary houses in Denver went down under the strain, his passed the crisis unscathed, because it had been anticipated, and preparations made in ample time to meet the revulsion.
Mr. Cooper, first cashier, was succeeded by W. I. Jenkins, who continued some years and was then succeeded by Cooper. Soon after the election of the latter as Governor of the State in 1888, he resigned and subsequently sold out his interests.
Charles M. Clinton was born at Arapahoe Bar near Denver, No- vember 24th, 1862 ; was educated in the public schools of the latter city and graduated from the high school, June 10th, 1880. His first employ- ment was as a messenger in the State senate, session of 1880-'S1. In February of the year last named, he entered the office of the Denver Safe Deposit & Savings Bank, as a clerk under W. D. Todd, cashier, remaining four months, when that officer secured a place for him in the German National. He began as collection clerk and sturdily made his way through the several grades until August 3d, 1889, when he was elected cashier. Here is the example of a penniless boy, born on one of the mining bars of the early period, acquiring an education by hard earnest work; plucky, resolute and persevering, with an ambition to become a lawyer, but diverted from this purpose by the necessity of earning his own living by such labor as he could find, working his way through trials and difficulties, with no leisure for the joys and pastimes of boyhood, from an humble clerkship with a small salary to the proud position of chief manager of one of our principal banks, in the short
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space of eight years. He is the youngest person in the city and prob- ably in the State, to occupy such a position. Thus far he has been successful. The qualities that have won for him the station he fills, will undoubtedly carry him forward to a career of further honors. While in the high school he took great interest in the debates, and won the Woodbury medal for declamation ; was president of various societies, and since graduation has been president of the high school alumni.
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CHAPTER IX.
BANKS AND BANKERS CONTINUED -THE STATE, DENVER, PEOPLE'S, AMERICAN- VARIOUS SAVINGS INSTITUTIONS, COMMERCE, COMMERCIAL AND OTHER BANKS- TRAGIC DEATH OF JACOB SNIDER -THE ROLLINS INVESTMENT COMPANY.
The State National. This bank opened in a small apartment on Sixteenth street in the rear portion of McClintock Block, about the first of May, 1882, with a capital of $120,000 and the following directors : J. A. Chain, Charles Hallack, George N. Wheeler, Julius C. Lewis, Charles F. Hendrie, Elias R. Barton, C. E. Billings and E. P. Wright. George N. Wheeler became president, C. F. Hendrie vice-president, and E. P. Wright cashier. All were prominent business men of Denver, engaged in various mercantile pursuits, most of them wealthy. When the First National, which then occupied the corner of the same building was transferred to the Tabor Block across Larimer street, the institution we are considering took its place. One of the projectors was Mr. E. P. Wright, a native of Massachusetts. As so many of our sterling business men have done, he came to Colorado to test the virtues of its climate as a restorer of wasted energy. His first introduction to the pursuit to which the best years of his life were given, was at the age of sixteen in the Suffolk Bank of Boston, where he remained two years and then went to the Redemption Bank, serving there an equal time. Next he was bookkeeper for a year in the Market Bank of Brighton,- then a suburb of the city, now incorporated with it,-which in 1864 he organized as a national, and was chosen cashier. In the meantime, how- ever, at the age of twenty-two, he enlisted in a regiment of nine months' men, served his time as a soldier, and received honorable discharge.
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He continued as cashier until 1879, when broken health, never very robust, induced him to visit the Rocky Mountains. His first abiding place was Colorado Springs, from whence he removed to Denver in 1881, and soon after the wholesale jobbing firm of Lang & Wright was organized for the boot and shoe trade. The partnership was dis- solved at the end of the year, Mr. Wright selling his interest to Mr. Lang. In the spring of 1882, as stated, the State National took its place among the banks of the city.
But it soon became apparent that he had undertaken too much ; that instead of the cares and responsibilities for which he had been chosen he should have sought active occupation on a ranch, or in some vocation outside the close atmosphere of an office, for his physical vitality began to wane, and there was danger ahead for him; but im- pelled by the strong sense of duty that governs all his acts, he discharged the obligations faithfully until March, 1888, when he tendered his resignation. It was not finally accepted, however, until May, when the bank was reorganized by John L. McNeil, Fred C. Kilham and Edward L. Raymond. Mr. Wright had been trained for his profession in one of the best schools of modern finance, is a gentleman of exemplary character, filled with laudable aspirations, but unfortunately lacking physical strength to execute them. Retiring from the office he filled so worthily, he has since taken up occupations that afford exercise, and it is hoped will soon restore perfect health.
The young and vigorous blood infused into the bank under its re- organization, the increase of its paid up capital to $300,000 with a surplus of $45,000, gave it a marked influence for the better from the outset. Most of the old stockholders remained, and other strong men were added to the list.
Mr. McNeil was elected president, Raymond vice-president, and Kilham cashier.
Mr. McNeil is a native of Owego, New York; born May 8th, 1849; educated at the Owego Academy ; afterward took a clerkship in a hardware store, remaining four years; came to Denver May Ist,
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1870, and needing employment, accepted the first position that offered, that of clerk in a shoe store ; two months later entered the office of the Denver Pacific Railway Company as chief clerk ; February Ist, 1871, was appointed collection clerk in the Colorado National; advanced to teller July Ist, which he retained until 1876, when in association with A. B. Daniels, J. S. Brown and brother, William and Moritz Barth, he established and conducted in the young and very prosperous town of Del Norte, the banking house of Daniels, Brown & Company, or the bank of San Juan. This was an unlimited partnership, supported by some of the heaviest capitalists of the State, probably the strongest bank of its class in the West, and was favored with a very large business. About two years after the Rio Grande Railway crossed Veta Pass, and the town of Alamosa was founded as its terminal in the San Luis Valley (July, 1878), they closed the Del Norte house, moving it to that town, and subsequently opened another at Animas City, which was moved to Durango on the completion of the road to that place.
In 1883, when every bank in the city of Leadville went down under the financial congestion of that year, Mr. McNeil, recognizing the oppor- tunity, went there, and a few days later the Carbonate Bank was organized under State laws, with a strong board of directors, comprising H. I. Higgins, W. Arens, Dr. D. H. Dougan, J. W. Smith, Timothy Foley, Walter H. Jones and himself. Dr. Dougan was made president, and McNeil cashier. It was an office requiring not only experience, but great strength of character, unremitting caution and the constant exercise of the keenest skill to breast the tempest that had been raised by the general and demoralizing crash just preceding the opening of its doors. Confidence in banks had been almost wholly destroyed, and nothing but steady persistence in well doing would restore it. The people who had been stricken, crippled and broken by the series of disasters until their last hope was destroyed, were loth to renew their confidence in such enterprises, notwithstanding the moral and financial character of the men behind it. In such a state of feeling the bank opened. Its progress was slow for some months, but as time passed,
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and it was seen that it was formed to endure, was in safe and able hands, doubts were dispelled, and prosperity returned. Toward the close of 1884, Dr. Dougan resigned. January Ist, 1885, Mr. McNeil was made president, and John C. Mitchell cashier. For some time it was the only bank in the city. The nervous strain, together with the depressing effects of the altitude, soon caused serious inroads upon the health of the newly chosen president, but pride held him to his work until Jan- uary Ist, 1887, when he was compelled to surrender. He came to Denver, spent the year in comparative idleness for rest and recuperation, taking an office in the Windsor block ; he was made purchasing agent for the Pennsylvania Lead Company, and bought millions of dollars worth of bullion for it. He still acts in that capacity. The collection clerk of 1871 had risen to cashier and manager in 1876, to president in 1885; is the trusted agent of a mighty corporation in 1887, and mounts again to headship in 1888,-striking advancement that only a few make and maintain. Tracing his footsteps, we find the natural outgrowths of strength, manliness, indomitable energy manifest in pursuing every undertaking to its proper ending, that in all ages have led to distinction. His years, like those of all who succeed, have been years of struggle. Men of his calling sleep not upon beds of roses with brains undisturbed by thoughts that burn. It is hard, wearing work to make money for ourselves or others, still harder to retain it; to have the care of millions, the deposits of the rich, the middle classes and the poor; to resist temptation, to overcome and thwart innumerable efforts to cheat and defraud; to maintain exact balances, to follow reams of ledger paper drenched with figures, that represent weal or woe to thousands. Its tendency is to make men irritable, nervous, dyspeptic, cranky.
The amount standing to the credit of depositors when the reorgan- ization took place was only $376,483. Two years later it was more than two millions, and constantly increasing by augmented confidence in the management, and the general growth of business in the com- munity. Mr. McNeil has every reason for honest pride in the record he has made. If his strength holds out, it will be still further glorified.
Chave, S. Watson alson
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Edward L. Raymond, born in Rochester, New York, in 1853; educated in the schools of that city and prepared for Yale College, but the death of his father prevented its consummation. Therefore, he en- tered the Rochester Savings Bank, one of the largest in the State outside of New York City, where he remained six years, being in the meantime promoted to assistant paying teller, and then to teller ; came to Denver in 1878 ; served as paying teller in the Colorado National for two years, when he accepted a like position in the German National, retaining it
three years. In the meantime the Denver National was organized (December, 1884), when he accepted the post of assistant cashier in that bank; was one of the organizers and became one of the principal share- holders in the State National, and was chosen vice-president. Like the other officers he is quite young, has had much experience in banking, and applies himself with praiseworthy earnestness to its prosperity.
Frederick C. Kilham, born in Martinsburgh, New York, March 22d, 1858; educated in Cazenovia, that State; came to Colorado in Sep- tember, 1876, entered the Bank of Clear Creek County, as bookkeeper and collection clerk, remaining two years ; came to Denver in the fall of 1878, and took the post of collection clerk in the Colorado National, rising by rapid promotion to paying teller two years thereafter. Served eight years with the German National, entering in December, 1880, first as teller, and in the fall of 1885 was made assistant cashier. When the State National was reorganized, in which he took an active part, he became one of the chief owners, and was elected cashier.
The Denver National, opened for business in Barclay block, corner of Larimer and Eighteenth streets, December 8th, 1884. Authorized capital, $500,000, fifty per cent. paid in, and the remainder subsequently added. Directors, Joseph A. Thatcher, Joseph Standley, James B. Grant, James, Duff, Edward Eddy, W. S. Jackson, Dennis Sullivan, Otto Sauer and George W. Trimble. Thatcher, president; Grant, vice-president ; A. A. Denman, cashier ; all of whom have been annu- ally re-elected from the outset to the present time.
Joseph A. Thatcher, son of John Pemberton Thatcher, a soldier in
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the war of 1812, was born in Shelby County, Kentucky, in 1838; edu- cated in a country school ; took a course of study in commercial law, bookkeeping and banking in Jones' commercial college, St. Louis, Mis- souri. In 1849 his parents settled at Independence, Missouri, where he took a clerkship in his uncle's store, and remained two years; emi- grated to Colorado in the spring of 1860, and engaged in mercantile business at Central City, with occasional indulgence in mining ventures. In 1863 was appointed cashier and manager of Warren Hussey & Co.'s banking house in that place, which he conducted until 1870, when he purchased the business, and in connection with Mr. Joseph Standley, a successful gold miner, established the house of Thatcher, Standley & Co. in that city, with a capital of $50,000. Thatcher became president, and Frank C. Young cashier. January ist, 1874, it was converted into the First National of Central City, with the same officers, Otto Sauer being vice-president. It flourished and grew strong under competent direction. Thatcher resigned the presidency in 1882 (but still retains his interest therein), came to Denver, and for a time did no business. The greater part of 1883-'84 he spent in Europe, making a leisurely tour of Great Britain and the Continent. In December, 1884, the Den- ver National was opened. Its deposits at the close of the first year were $1,081,500. At the close of 1889 they had mounted to $2, 320,700. Outside of banking, Mr. Thatcher has been largely interested in stock- growing with Messrs. Dennis Sullivan and W. S. Holly; aided in establishing the Union Stockyards in one of the northern suburbs of this city ; the Colorado Packing Company ; the Denver Electric Light, Heat and Power Company, and is a director in the Omaha & Grant Smelting Company. Mr. Thatcher is one of the oldest bankers of Colorado.
A. A. Denman is a native of New York City, educated in the public schools; engaged in various mercantile pursuits until 1871, when he came to Denver and entered the bank of Warren Hussey & Co. In June, 1872, when it was merged into the City National, he was made receiving teller, continuing until May, 1881, when he took charge of the private bank of Hiller, Hallock & Co. at Aspen. In December of that
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year he returned to Denver, re-entered the City National as assistant cashier, and in December, 1884, was elected cashier of the Denver Na- tional, which position he still retains.
The People's National. Organized as the "People's Deposit and Savings Bank," under the laws of Colorado, and opened on Arapahoe street between Sixteenth and Seventeenth, July 9th, 1888 ; capital, $150,- 000; Mortimer J. Lawrence, president; Charles A. Raymond, vice- president ; Charles Y. McClure, cashier ; was converted into a national bank August 1st, 1889; directors, M. J. Lawrence, C. A. Raymond, J. R. Hicks, James H. Clemes, Wm. W. Porter, Thos. M Patterson, Chas. S. Thomas, J. J. Joslin, Edward F. Bishop, Frank A, Knight, F. L. Rohlfing, Geo. W. Skinner and E. L. Scholtz.
Mortimer J. Lawrence, born in Springfield, Pennsylvania, December 8th, 1844; educated at Oberlin, Ohio; worked on a farm in Huron County, that State, until eighteen; served four years in Company B, Third Ohio Cavalry. At the close of the war went to Cleveland, and for the ensuing five years was connected with the "Herald" of that city; purchased the Ohio "Farmer" in 1872, and conducted it fifteen years; came to Denver in October, 1887; organized the People's Savings and Deposit Bank, and became its president, to which he was re-elected under the reorganization. Mr. Lawrence is a man of remark- able energy, of varied experience and essentially a money making power, which has brought him large wealth. He has brought the People's National to a high stage of prosperity, pushing it to the front rank of the chief institutions of the city. This is amply proven by the rapid advance it has made in the two years of his control. He is a prominent member of the Masonic order, and was one of the promoters of the splendid Masonic Temple completed and dedicated July 3d, 1890. The large and extremely attractive People's Bank building lately erected at the corner of Sixteenth and Lawrence streets, is also one of his business projects.
John C. Mitchell, born in Freeport, Illinois, February 28th, 1860; educated in the public schools; at sixteen entered his father's-the Ste-
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venson County-Bank, in the place of his nativity, remaining four years; came to Colorado in the spring of 1880, by inducement of ex- Governor A. C. Hunt, and was employed as bookkeeper in the mer- cantile and forwarding house of Field & Hill, at Alamosa, and subse- quently entered the Bank of San Juan, under J. L. McNeil, in the same town. When the branch at Durango was opened he became its assistant cashier. When the Carbonate Bank was organized at Leadville, he was appointed assistant cashier of that, and when Mr. McNeil was made president he succeeded him as cashier, retaining the position until Feb- ruary Ist, 1890, when he was chosen cashier of the People's National, succeeding Charles Y. McClure.
Fred C. Schrader, born in Utica, New York, February 11th, 1860; educated in the public schools of that city; came to Denver in the fall of 1878, and in 1879 was employed in the grocery store of Salomon Brothers as bookkeeper ; remained five years. In the fall of 1884 took a like position in the German National Bank. At the end of nine months was promoted to receiving teller, and then to paying teller, which he retained until April 4th, 1889, when he was elected assistant cashier of the People's National Bank.
The American National commenced business in the Clayton building, corner of Larimer and Fifteenth streets, December 2d, 1889; capital $250,000, fully paid. A few months later it was increased to $1,000,000. Directors, I. B. Porter, Frank Church, W. C. Walker, J. W. Nesmith, S. P. Haines, L. F. Liebhardt, F. J. Bancroft, N. B. McCrary, J. J. Hagus, T. J. O'Donnell, A. D. Wilson, Ph. Zang, C. S. Owens; I. B. Porter, president; Frank Church, first vice-president ; W. C. Walker, second vice-president; Howard Evans, cashier.
I. B. Porter, the chief promoter, was born on a farm in Monroe County, Missouri, August 14th, 1842; educated in a country school; studied law, practiced a short time and then engaged in the real estate business at Moberly, same State, continuing therein until 1875, when he emigrated to Helena, Montana, where he practiced law and took a num- ber of ventures in mining, but was not successful in the latter; came to
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Denver in February, 1883, and organized the firm of Porter, Raymond & Co., real estate and fire insurance agents. At first their efforts were confined to the commission line in real estate. Having opened just at the decline of interest in that class of property, trade was dull until about the beginning of 1886, when a great revival in realty set in and has con- tinued uninterruptedly to the present. They accumulated money very rapidly by reason of the wonderful activity of the epoch between 1886 and 1890, and are now wealthy. Mr. Porter is a man well fitted by ex- perience in business affairs to conceive and execute large enterprises. It is believed he will be successful in that recently established. At the annual election of the Denver Chamber of Commerce and Board of Trade, held in January, 1890, he was elected president of that institution. The remainder of his history will appear in the chapters relating to that organization and the phenomenal growth of Denver during the past few years of its progress.
Howard Evans was born in Cincinnati, Ohio, March 2d, 1858; received his primary education in the public schools of that city, and afterward took a course of instruction in the Institute of Technology, at Boston, Massachusetts, graduating as a civil engineer. He arrived in Denver in March, 1879, was a bookkeeper in the City National Bank until the organization of the Denver National, when, after the retirement of Edward L. Raymond he was elected assistant cashier of that bank, remaining until the organization of the American National, of which he was made cashier.
R. H. McMann & Co., Bankers. Mr. McMann was born at Mansfield, Ohio, October 22d, 1847; educated in the public schools; in March, 1864, took a commercial course at Eastman's national busi- ness college, Poughkeepsie, N. Y., and shortly after (November, 1864, when only seventeen years of age) entered the Richland National Bank at Mansfield as bookkeeper where he remained until December, 1868, when he took a like position in the First National of the same place ; was promoted to teller, and again to cashier, continuing in that capacity until September, 1873, when it closed under the great financial
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crash of that year, during which so many banks went down. In this crisis Mr. McMann lost every dollar he had in the world, but remained until its affairs were finally adjusted, then came to Denver bringing his family, and in February, 1876, formed a partnership with Peter Winne in the business of fire insurance and loans. Subsequently a new com- pany was organized consisting of C. D. Cobb, Peter Winne, R. H. McMann and Charles F. Wilson, under the firm name of Cobb, McMann & Co. January Ist, 1882, Mr. McMann withdrew and established the business of loaning money for Eastern capitalists, which developed into the present banking business.
The Colorado Savings Bank was incorporated under the laws of Colorado, June 8th, 1887; capital $50,000 fully paid, John A. Clough president, F. K. Atkins vice-president, Walter J. Wildman cashier, the latter succeeded by C. O. Atkins present cashier; directors, B. Lom- bard, Jr., James L. Lombard, F. K. Atkins, J. G. Benkelman, John A. Clough, Wm. G. Evans, Jacob Scherrer, W. J. Wildman, W. B. Mills, C. S. Howard and E. M. Battis; opened on the historic corner of Larimer and Fifteenth streets, one of the first business blocks erected in Denver, on the second floor of which Governor Gilpin had his executive offices in 1861, where many stirring scenes transpired in the early days of the Territory. At the close of 1888, its deposit account, principally small savings, was $56,089.62 ; at the close of 1889 it had increased to $201,402.71. It has loaned for the Lombard Investment Company of which it is the resident agent, about $2,000,000. It is the first bank of its class that has gained any considerable degree of public confidence in this city, all its predecessors save one, the Union Safe Deposit and Savings Bank, having closed. The statements ren- dered show a gratifying prosperity.
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