USA > Colorado > History of the State of Colorado, Volume III > Part 51
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SALES FOR THE YEAR 1889.
No.
Acres.
Dollars.
Pre emption and Commutation entries.
739
104.964.78
$131,363.10
Coal entries.
69
9,517.08
172,750 20
Mineral entries.
14
623.76
1,800,00
Total sales
822
Total acres. 115, 105.62
.8305,913.30
FEES AND COMMISSIONS.
Original Homestead entries.
439
64,878.32
$ 6,590 94
Final Homestead entries.
185
27,287.14
1,036.24
Timber Culture entries. .
165
25, 168.15
2,260.00
Final Timber Culture entries.
I
80.00
4.00
l're emption filings.
763
*120,480.00
2,259.00
Coal filings.
676
*107,000.00
2,028.00
Soldiers' filings
7
¥1, 120 00
21.00
Total filings and entries.
2236
Total acres. 346,013.61
$ 14,219.18
Testimony fees and receipts from all other sources.
3,556.65
Total fees and commissions.
17.775.83
Total sales.
305,913.30
Total receipts.
$323,689.13
* Acreage estimated.
476
HISTORY OF PUEBLO COUNTY.
The Western Union Telegraph Company has two business offices at Pueblo, and for the past year its home receipts were over $18,000, and it received about 40,000 messages-sending a like number in this period. The Postal Telegraph Company opened its offices in Pueblo in the summer of the current year ( 1890).
If the history of prominent banking institutions is the history of prosperous and progressive countries, Pueblo may proudly speak of the record of her fiduciary institutions.
January Ist, 1890, Pueblo had five National banks, the First National established in 1871, the Stockgrowers' National organized in 1873, the Western National es- tablished in 188t, the Central National organized in the same year, and the American National established in October, 1889. The Pueblo Savings' Bank began business in January, 1890. There are three private banks. The following table shows the banking business of the city, and is made up from the December, 1889, statements:
MONTH OF DECEMBER.
1SS7.
18SS.
Capital and Surplus-First National.
$ 316,000.00
$ 363,462.34 $ 456,353.24
Stockgrowers' National.
109,422.50
112,129.24
117,420.10
Western National.
99,337.63
116 838.68,
144,525.00
Central National.
61,842.75
67,618.84 86,259.24
American National.
176,001.96
Pueblo Savings Bank.
50,000 00
Private Banks.
48,556 29
87,815.98
114,733 99
Total Capital and Surplus.
$ 635,159.17 $ 747,965.08 $1, 145,290.53
Deposits-First National.
$1,045,972.31 $1, 178,644.79 $1, 503.089 79
Stockgrowers' National.
188,879.13.
216,271.64'
205,373.10
Western National ..
413,377.58
395.519.21|
523,911.95
Central National.
72.997.40
96,401.51
132,127.87
American National
202,539 97
Private Banks.
159,272.11
188,723.90
335,228 87
Total Deposits.
$1.880,498 53 82,075,561.05 $2.902,271.55
Loans and Discounts-First National.
$ 180,041.90 $1,063 582.50 $1,046,079 84
Stockgrowers' National.
209,376.62
211,429.92
234,159 17
Western National.
468,208.27
348,523.50
401,695.44
Central National ..
91,0 9.24
98,136.47
126,153.65
American National.
228.188 16
Private Banks
196,556.29
205,915.98
361,733.97
Total Loans and Discounts
$1, 145,202.32 $1,927.588.37 $2,398,010.25
The banking business of the city it will be seen, is large for the city's size. Many circumstances combine to make this so. The city is the financial center for Southern Colorado, which is rapidly settling up with a thrifty class of farmers, whose diligence creates business. Mining and ditch ventures requiring heavy capitalization and large disbursements, originate here. Sampling and ore buying, and dealings in bullion, pro- vide field enough for one good bank themselves. The many building improvements and projects incident to a rapidly developing city and the remarkably active real estate market, the county's disbursements, the government land office, the smelters and several conspicuously large manufacturing concerns, all contribute to augment deposits, loans and banking transactions generally.
The First National Bank, perhaps the strongest, as it is the oldest of Pueblo's
,
D. miller
477
HISTORY OF PUEBLO COUNTY.
banks was organized under the United States banking system in 1871, with a capital of $50,000, under the same management as at the present time, and since its inception this bank has been a very important factor in the industrial and commercial progress of the city, and it now has the resources and patronage to be expected from so long a service. Its capital was increased about 1883, to $100,000, and now to $200,000, and the bank has accumulated a surplus besides of $300,000. The president is Mr. M. D. Thatcher, one of the most substantial men in Colorado, a very large real estate and land owner, a principal in many of the largest concerns in the city, smelting, irrigation, electric light, and other ventures, and a man rated, as to his possessions, in the millions. His private residence is the handsomest in Pueblo, and cost nearly $100,000. The vice-president, Mr. John A. Thatcher, is his brother, also of prominent position and enterprise. The cashier is Mr. Robert F. Lytle.
The Stockgrowers' National Bank was established as a private bank in 1873 by Goodnight, Cresswell & Co., prominent stockmen of Colorado. In the following year Raynolds, Lamborn & Company became its owners. It was incorporated as a National bank in 1876, with C. B. Lamborn as president and Jefferson Raynolds, cashier. Its capital now is $100,000, and surplus $50,000, with total resources of nearly half a million. Since its nationalization $150,000 in dividends have been paid to stockholders. The officers and directors of the Stockgrowers' Bank are representative men of Pueblo and the State. George H. Hobson, president, came to Colorado from Missouri in 1869, and was then engaged in the Texas cattle trade. Shortly afterward he founded a general merchandising establishment. He was county clerk and recorder in Pueblo for two terms, and prominently interested in real estate and cattle, interests in which he still retains large investments. Mr. Hobson has been notably successful in mining investments at Ouray. He was vice-president of this bank for six years before becoming president. Mr. J. D. Miller, for many years a prominent grocer in Pueblo, has been a resident of the city for twenty years. Mr. A. V. Bradford has spent all of his life, practically, in Colorado, and has had banking experiences in Ouray, ten years with the First National Bank of Pueblo, and has been cashier of the Stockgrowers' for about eight years. The officers, together with Mr. M. A. Rhodes, make up the directory.
The Western National Bank was incorporated in August, 1881, with a capital of $50,000. W. L. Graham was elected president, and Mr. C. B. McVay, cashier. At this current epoch, its capital is $50,000, with a surplus of $115,000. Mr. Graham still remains at the head of the institution and is largely interested in important concerns in the city. George A. Newton of the Newton Lumber Company, Ex-Governor Alva Adams, Mr. J. W. Gilluly Treasurer of the Denver & Rio Grande Railroad, Mr. N. B. Wescott and Mr. Graham are directors. The cashier, Mr. Charles E. Saxton, has an honorable record of many years' service in banking circles.
The Central National Bank was originally organized as the South Pueblo National Bank in August, 1881, with a capital of $50,000. Its original directors were Mr. H. L. Holden, president ; Mr. D. L. Holden, cashier ; James N. Carlisle, Marcellus Sheldon, James B. Orman, William Moore, Garrett Lankford and William W. Taylor. When South Pueblo became incorporated with Pueblo, the bank's name was changed, February 11th, 1889, and Mr. D. L. Holden, who had been cashier up to this time, was elected president, succeeding Marcellus Sheldon, who had held the office for three years.
478
HISTORY OF PUEBLO COUNTY.
Mr. A. Royal is vice-president ; C. A. Hammond, cashier and N. L. Holden Jr., assistant cashier. The directory includes Mr. D. L. Holden, Mr. C. A. Hammond, George Salis- bury, A. Royal and Mrs. J. K. Moore. Mr. D. L. Holden was first mayor of Pueblo after its consolidation; he is also an ex-president and director of the Pueblo Board of Trade. The vice-president was also mayor of the city. Both Mr. Holden and Mr. Royal are prominent in the G. A. R.
The American National Bank was established during the past year with capital and surplus of $250,000. O. H. P. Baxter, a resident for twenty years, and a man identified with very many of the largest business enterprises of the city, developmental, financial and mechanical, is its president. Chas. E. Gast, for eighteen years a practicing attorney here, and one of more than mere local reputation, is vice-president ; Robert Gibson, of the Downen & Gibson Investment Co., cashier, and S. F. Crawford, who resigned the position of cashier of the Commercial Bank of Wheeling, West Virginia, to come here for the purpose, has accepted the appointment of assistant cashier.
The directors are the following substantial business men of Pueblo: Chas. Henkel, J. A. Joy, T. G. McCarthy, N. W. Duke, Benj. Guggenheim, Frank Pryor, Geo. E. Bragdon, H. R. Holbrook, and Messrs. Baxter, Gast and Gibson, The aggregate wealth of these gentlemen amounts to several millions.
The new bank has for correspondents the United States National Bank, New York, the Merchants' National, Chicago, the American National of Kansas City, and the State National of Denver. Its place of business at Fourth and Main streets is handsomely and thoroughly appointed. And this bank was the first to introduce in Pueblo Safety Deposit Vaults.
The Pueblo Savings Bank .- Was incorporated at the close of 1889, and opened for business on the first day of the present year. The incorporators, W. W. Strait, Chris. Wilson and John F. Barkley are old and well known residents of the city, and so also are the directors, ex-Governor Alva Adams, M. D. Thatcher, W. L. Graham, J. N. Carlisle, T. A. Sloane and Geo. J. Dunbaugh, associated with them. Ex-Governor Adams is president, Mr. Strait vice-president, and Mr. Wilson cashier. Of the $250,- ooo capital authorized for this bank in its charter, $50,000 has been paid in. A savings bank was needed in Puebio, as has been evidenced by the many deposits already made with this institution, directed by some of Colorado's most trustworthy and prominent citizens.
The Colorado Coal & Iron Company .- The Colorado Coal & Iron Company, the largest corporation outside of the railroads in the State of Colorado, was organized the 23d day of January, 1880, by a number of Colorado, Pennsylvania and New York capitalists, at the head of whom were General William J. Palmer, Dr. Robert M. Lamborn, Dr. William A. Bell, and others who were connected with them in the pioneer work of developing and attracting attention to this great State of Colorado, coming here and building, first, the Denver & Rio Grande Railroad, when the whole country hereabouts was comparatively a wilderness, and then starting many auxiliary companies, among them being the Central Colorado Improvement Company, the Southern Colorado Coal & Town Company, and the Colorado Coal & Steel Works Company. These three companies were consolidated at the above date, forming the Colorado Coal & Iron Company.
1
479
HISTORY OF PUEBLO COUNTY
General W. J. Palmer was the first president of the Colorado Coal & Iron Com- pany, which office he held for a number of years, being succeeded in the spring of 1884 by Mr. Henry E. Sprague of New York City. Mr. Sprague remained at the head of affairs until 1888, when he, in turn, was succeeded by Edward J. Berwind of New York, the present head of the company.
The officers of the company at this date are as follows: Edward J. Berwind president; Henty S. Grove vice-president; E. M. Steck general manager; Thomas E. H. Curtis secretary and treasurer; William L. Graham assistant secretary and cashier, C. F. Ray auditor; John M. Waldron general counsel; George S. Ramsey, general superintendent, coal and coke departments; Independence Grove, general superintendent iron and steel departments; George W. Cook, general agent, and J. K. Brewster, land and tax agent. The company maintains an office in New York City in the great Mills building on Broad street; it is there that the president, vice-president, secretary and treasurer are to be found. At Pueblo are the general offices of the company, and from this central point the general manager directs the active operations of the company. At Denver one hundred and twenty miles north, the general sales agent makes his headquarters; it is there that most of the orders are taken which keep the iron and steel works at Bessemer and the many coal mines and coke works at various points in the State, busy. At Bessemer, which adjoins Pueblo on the south and but one and a half miles distant from the Union depot in Pueblo, is located the large iron and steel works of this company; here they have large and modern blast furnaces, foundries for the manufacture of iron castings, cast iron water pipe of all sizes, machine shops, a complete steel making plant, including converting works, bloom and rail trains, puddling mills, merchant iron mills, cut nail and spike works, all fitted with the best and latest appliances for the manufacture of iron and steel.
These works furnish employment to about nine hundred men at the present time which will be largely added to in the course of another twelve months by the addition of more blast furnaces and a general enlargement of the plant. About $40,000 a month is at present paid out in wages, which furnishes a great deal of the life and sinew of the Bessemer community; most of this money finds its way, however, to the business houses in Pueblo where the employes do their trading. The capacity of these works at Bessemer has never been tested thoroughly, for the reason that the market for its product has not yet reached its capacity to supply. In a general way, however, it might be said that they can turn out per month, seven thousand tons of pig iron from their two blast furnaces, about the same number of tons of steel rails, twenty- five hundred tons of cast-iron water pipe, one thousand tons of merchant iron, mine rail, etc., six thousand kegs of nails, one thousand kegs of spikes, or twelve times these figures annually.
In and around Pueblo and Bessemer the company own a large amount of valuable real estate including some 40,000 acres of grazing and agricultural lands, all within Pueblo County, nearly nine thousand acres of which are under the Bessemer irrigating canal. The water for this ditch or canal, is taken from the Arkansas River about seven miles north of Pueblo, and runs east, parallel with the Arkansas, and from one to
480
HISTORY OF PUEBLO COUNTY.
four miles south thereof, merging finally into the Huerfano not far from its confluence with the Arkansas.
The Colorado Coal & Iron Company is the largest taxpayer in the county, con- tributing about $50,000 per annum into the tax coffers. In addition to this fact, many of its employés are prosperous realty owners and taxpayers in the county, from which it will be seen that the Colorado Coal & Iron Company is a large factor in all that tends to the success and prosperity of Pueblo and Pueblo County.
The company owns, and mines, itself, all the raw material necessary in the manu- facture of their various iron and steel products here. At Coal Creek, in Fremont County, is mined the famous Cañon City domestic coal; at Walsenburg, in Huerfano County, they operate the Walsen mine, the Cameron mine, and the Robinson mine; at Santa Clara, also in Huerfano County, and but a short distance south of Walsenburg, is the Santa Clara mine; all four of these last named mines produce a good quality of steam and domestic coals. At Road Cañon, in Las Animas County, a short distance north of El Moro, a new mine is now being gotten ready in the best possible manner, to ship a rich bituminous steam and gas coal. At Englewood, between El Moro and Trinidad, is the company's great El Moro mine, one of its largest producers of coal; the coal from this mine is of the coking variety, being excellent also for steam and gas purposes; with this coal the two hundred and fifty bee-hive coke ovens at El Moro are supplied for the manufacturing of coke which is used in the blast furnaces at Bessemer, and by the various smelting companies at different points in the State in the reduction of the precious metals. At Crested Butte, in Gunnison County, two hundred miles west over the mountains, is the Crested Butte mine, a large mine in a fine bed of coal, a good coal for domestic, steam, gas and coking purposes. At this point the company have another coke plant consisting of one hundred and fifty-four ovens of Bee-hive pattern; the product of these ovens is shipped to Leadville, for the smelters at that point, and also to the smelters in Utah and Montana.
The iron ores used to make pig iron at their blast furnaces at Bessemer, are gotten from their own mines at Calumet, on the Leadville branch of the Denver & Rio Grande Railroad, and from the Hot Springs mine, on the Villa Grove extension of the Denver & Rio Grande Railroad in Saguache County. From the former a rich magnetic ore is obtained, and from the latter a highly valuable red hematite ore is easily worked. At San Carlos, only six miles south of the works, the company owns a large ledge of excellent limestone, sufficient for its fluxing purposes for many years to come.
The present output of coal is about 70,000 tons per month, and of coke about 10,000 tons per month.
The local manager of Dun's Commercial Agency estimates that the amount of capital invested in all business, mercantile and manufacturing interests in Pueblo, is over nine millions, and that the employment of this sum gives, as resultant, an annual busi- ness to the city of more than $35,000,000. The total assessed valuation of property in the county for 1889 was $15,997,215, on a basis of about 33 per cent. of actual valuation.
The Colorado Mineral Palace was first suggested by General Cameron of Cañon City, who probably received inspiration for the thought from the Ice, Corn, Coal and Spring Palaces recently erected in other States. The abstract ideal was transformed
PRdasip
481
HISTORY OF PUEBLO COUNTY.
into reality, mainly through the efforts of Wm. H. Harvey, aided by other public spirited Puebloans and Coloradoans generally. The purpose of the mineral palace is to make known to the world by means of an exposition the mineral resources, progress and prospects of Colorado. A company was formed, the business features of the exposition matured, plans prepared, contracts awarded, and the work began with Western vim.
State pride was enlisted. The original directory included W. H. Harvey, W. W. Palmer, George H. Hobson and C. L. Hill of Pueblo; Donald Fletcher and A. W. Chamberlin of Denver. Mr. Fletcher was elected president. After inspection of many plans for the building, that of Otto Bulow of Pueblo, was chosen. Of imposing Egyptian design, it is masterfully drawn. The entire façade, of colonnade and sculptured capitals and eight foot frieze, with decorations of frontier and mining life, will produce an im- pressive and novel effect. The area to be covered with the building is 244 by 134 feet. The edifice itself is of wood, with stone columns 28 feet high 5 by 7 feet at the base. The decoration at the present writing (November, 1890), under direction of New York artists, assisted by specialists from India and Europe, is being rapidly completed in a gorgeous and artistic manner. Mineral cabinets will line the walls and columns from floor to line of sight, and crusted ores and minerals will be utilized in the decorations wherever possible-native gold, platinum, silver, mercury, copper-and the ores of the same, specular and magnetic iron, chromic iron, pyrites, galena, nickel ore, quartz, feld- spar, mica, beryl, tourmaline, garnet, malachite, hornblende, serpentine, asbestos, wavellite, brucite, baryta, gypsum, calc spar, stalactites and stalagmites, fluor spar, sul- phur, graphite, alum, borax, salt, coal in all its varieties, ochre in all its varieties, and other minerals used as pigments. Pilasters of white or colored marble, alabaster, onyx, agatized wood, obsidian, cryolite, arfvedsonite and everything of a mineral nature that may be used with artistic effect, including fossils,-footprints, fish, butterflies, ferns and other petrifactions, will find a place both inside and outside this gorgeous edifice. Although the decoration will not be completed before January Ist, 1891, it already is evident that in magnificence this structure's artistic tout ensemble will eclipse that of any public exhibition building at the recent Paris Exposition, or in the United States to-day.
An interesting historical question has received partial answer elicited by the dec- oration of the Mineral Palace. Mr. M. R. Levy desiring to surround the central domes with heroic sized busts of America's greatest men in the arts and sciences, wrote to prominent men, East and West, requesting lists of names from each of the country's most illustrious scientists and artists, limiting the number to be thus honored, to eight.
Judge Moses Hallett of Denver, suggested the names of Benjamin Franklin, Robert Fulton, Samuel F. B. Morse, John Randolph, Louis Agassiz, Hiram Powers, James B. Eads, J. Marion Simms, Washington Allston.
Ex-Senator N. P. Hill of Denver, named Morse, Bell, Ericsson, Edison, Holly, Agassiz, Henry, Geo. H. Corliss, Brush, Dana, McCormick, and as representative of Colorado, Governor Grant and Professor Richard Pearce.
David Swing of Chicago, named Peale and Bierstadt (painters), Powers (sculptor), Richardson (architect), Franklin, Morse, Agassiz, Silliman.
A. R. Spofford, Librarian at Washington, suggested Whitney, Jethro Wood (inventor 31 111.
482
HISTORY OF PUEBLO COUNTY.
of the plow), Fulton, Morse, Joseph Henry, Cyrus McCormick (inventor of reapers), Edison and Alex. Graham Bell, as typical inventors and men of science.
Thomas A. Edison named Franklin, in electricity ; Joseph Henry, in physics ; Robert Fulton, steamboats; S. F. B. Morse, telegraph ; Elias Howe, sewing machines ; George Henry Corliss, automatic engines ; Eli Whitney, cotton gin. Mr. Edison said he knew nothing about art.
Wm. H. Barnes of California, suggested Richard M. Hoe, Fulton, Morse, Edison, Eli Whitney, Elias Howe, A. S. Hallidie (cable car), Hiram Powers.
C. C. Goodwin of Salt Lake, suggested Emerson, W. W. Story, Morse, Franklin, Fulton, Whitney, Edison, Peter Cooper and Captain Eads.
James B. Belford of Denver, named Prof. Henry, Hiram Powers, Robert Fulton, Edison, Maria Mitchell, Morse, Howe, Eli Whitney or McCormick.
Lyman Abbott, editor of the "Christian Union," New York, suggested Franklin, Morse, Fulton and Edison.
Joseph Medill, editor of the Chicago " Tribune," named Edison, Fulton, Whitney, Morse, Silliman, Hitchcock and Dana as geologists ; Greenough, Powers, St. Gaudeus and L. G. Mead as sculptors ; Benjamin West, Gilbert Stuart, Inness and Bierstadt as painters, Irving, Bancroft, Longfellow and Emerson.
George William Curtis, editor of " Harper's Magazine," named Franklin, Fulton, Morse, Edison, Stuart, Allston, Irving and Bryant.
Senator Henry M. Teller of Colorado, named Franklin, Morse, Fulton, Professor Henry, Edison, Hawthorne, Bryant, Longfellow, Whittier.
Governor John L. Routt of Colorado, named Franklin, Morse, Agassiz, Edison, Hiram Powers, Larkin G. Mead, Wm. Cowper, F. E. Church and A. Bierstadt.
General Benjamin F. Butler suggested Fulton, Franklin, Morse, Ericsson, Henry, Agassiz and Howe.
Governor David R. Francis of Missouri, named Franklin, Fulton, Edison, Morse, Whitney, Agassiz, Eads and Maury (who discovered the principle of the ocean currents).
Hon. J. J. Ingalls, president of the United States Senate, named Edison, Silliman, Rumford, Franklin, Field, Henry, Greenough and Moran.
Charles S. Thomas of Denver, named Agassiz, Henry, Edison, Morse, Longfellow, Bancroft, Jefferson and Benton.
Senator Edward O. Wolcott of Colorado, suggested Washington, Hamilton, Lincoln, Grant, Fulton, Franklin, Morse and Edison.
Charles Dudley Warner named Franklin, John Fitch (who first applied steam to the navigation of vessels), Whitney, Morse, Agassiz, Asa Gray, Henry and Edison.
No doubt the portraits selected will be those of the names receiving the majority of votes from this vast correspondence which is merely suggested by the foregoing lists, 1 and the result will prove of more than ordinary interest to the world at large.
The extreme height of the building's center dome is 72 feet. This is to be dec- orated with female figures, 16 feet in length, representing the different countries of the globe, and surrounding these will be the eight great Americans with cameo effects, and in metallic framings. The general scheme of color in the interior is terra cotta and gold executed upon relief work in the East Indian style. Around the central domes are twenty smaller domes, 11 feet in diameter, and these are exquisitely adorned with
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