USA > Iowa > Cedar County > A topical history of Cedar County, Iowa, Volume I > Part 21
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The Union Savings Bank incorporated with a capital of $30,000, has a sur- plus and profits of $10,000 and deposits of $200,000. The officers are C. L.
249
HISTORY OF CEDAR COUNTY
Rigby, president; Otto Evers and Jas. J. Spear, vice-presidents, and C. H. Haesemeyer, cashier.
The directors now are C. E. Hoyman, C. C. Smith, W. A. Jackson, C. L. Rigby, Harry Miller, W. A. Findlay, M. H. Davidson, Otto Evers, James J. Spear.192
The West Branch Savings Bank was organized in 1898, capital $20,000. Opened for business July of that year. First officers were J. C. Crew, presi- dent ; N. H. Crook, vice-president ; P. V. N. Myers, cashier. The first directors were N. H. Crook, Jos. Albin, J. C. Crew, J. T. Emmons, P. J. Thomas, and C. H. Hathaway and L. J. Leech.
In January, 1899, J. E. Michener succeeded P. J. Thomas as director, and was also elected president, J. T. Emmons being made vice-president. April 18, 1899, V. S. McKarahan was elected to fill the office of director to complete the unexpired term of J. C. Crew, who had resigned. In March, 1901, W. H. Brown succeeded J. T. Emmons as director, C. H. Hathaway being elected vice-presi- dent. At the same time J. E. Michener resigned as president. E. L. Hollings- worth was elected a director about the same time. In January of 1902 C. H. Hathaway was elected president; L. J. Leech, vice-president. In May of 1902 O. C. Pennock succeeded J. E. Michener as a director, and in January of the next year became president, in which office he has served ever since. In- January, 1903, E. McConnell was elected on the board and served until 1910, when he was succeeded by Jens Thompson.
The officers of the bank now are O. C. Pennock, president; L. J. Leech, vice-president ; and P. V. N. Myers, cashier. The directors are O. C. Pennock, L. J. Leech, W. H. Brown, V. S. McKarahan, N. H. Crook, E. L. Hollings- worth, Jens Thompson. In 1908 the bank built their present building. The capital of the bank is still $20,000; the surplus $4,000; the total assets of the bank being about $135,000. The bank has experienced a steady growth, has paid regular dividends, and looks forward to a prosperous future.193
The articles of incorporation of the Mechanicsville Savings Bank were ac- knowledged on August 5, 1903. The first officers, D. H. Snoke, president; W. C. Page, vice-president, and Emil Webbles, cashier, the latter remaining in office until the present year. The present officers of this bank are H. P. Stoffel, presi- dent; A. T. Spitler, vice-president; O. M. Bundy, cashier, and H. S. Pierce, assistant. The average deposits run about $425,000. The bank owns its build- ing, which was erected in 1904 at a cost of $10,000. The capital stock is given as $25,000, with a surplus of about $12,000.
The directors at the present time include Adam Krumroy, John V. Kerwin, Geo. W. Fall, the president and vice-president, John Jackson, J. H. Onstott, C. J. Lynch and S. A. Wilson.194
The Mechanicsville bank of Helmer and Gortner was organized as early as 1874, but not incorporated until 1902. Its present officers are Lines Bennett, president ; H. E. Gibeaut, cashier, and M. G. Gortner, assistant cashier. Its present capital is forty thousand, and surplus twelve thousand dollars. The usual banking business is conducted and in addition the bank rents boxes in a steel fire and burglar proof vault. Offers to furnish its friends credit and in- formation in every way that it can command.195
250
HISTORY OF CEDAR COUNTY
The total deposits in Cedar County banks on June 30 were $4,150,223.38; the loans were $4,233,195.58, and the total cash on hand or on deposit with other banks was $637,321.12.
Below is presented in tabular form items from each bank report showing loans, deposits and cash resources, the last item being the total cash actually held by the bank or on deposit with other banks and subject to be drawn at sight. The last previous statement was called in February last, at which time the deposits of practically all the banks touched the high point in their history. Since then there has been a small shrinkage in deposits while loans have in- creased. This accounts for the fact that ten of the banks show by their state- ments that they have borrowed funds to accommodate their customers, the total amount for the ten being $170,643.94.
The Durant Savings leads the banks of the county in point of loans and deposits, having nearly $100,000 more than its nearest competitor. The Helmer & Gortner State of Mechanicsville makes the strongest showing in the matter of cash reserve, having in cash in its vaults and on deposit with other banks, more than twenty-two per cent of its total deposits. The City National of Tip- ton and the Clarence Savings are close seconds in this respect.
The condition of the Cedar County banks represents pretty closely the condi- tion of banks throughout the Mississippi valley. There has been an unprece- dented demand for loans this year and it has resulted in a general stiffening of the rates. A prominent banking authority ascribes the cause of the present condition to speculation in lands and extravagant expenditures by nearly all classes of people.
Cash Reserve.
Bennett Savings
Loans. $261,614.71
Deposits. $269,442.36
$37,668.35
Durant Savings
586,029.23
549,034-47
46,712.32.
F. & M. Savings, Durant.
223,874.98
243,641.74
39,104.35
Union Savings, Stanwood.
188,896.21
182,388.87
28,316.28
H. & G. State, Mechanicsville.
322,844.75
372,422.25
81,976.88
Mechanicsville Savings
337,855.17
360,410.71
45,712.32
Clarence Savings
212,718.14
212,487.42
44,844.01
First National, Clarence
179,304.43
I 34,004.78
19,951.29
Citizens' Savings, West Branch ..
100,657.67
106,900.99
11,147.53
West Branch State
224,820.37
189,396.01
35,886.84
City National, Tipton
483,670.93
467,349.74
98,593.56
Downey Savings
89,361.36
94,996.63
16,997.55
F. & M. Savings, Tipton
150,678.63
144,956.00
27,784.08
Cedar County State, Tipton
474,255.71
409,940.30
43,990.88
Lowden Savings
234,698.77
246,284.71
37,066.01
Sunbury Savings
161,914.52
166,566.40
21,568.87
196 Totals
$4,233,195.58
$4,150,223.38
$637,321.12
While the White Pigeon Mutual Insurance Company has its headquarters in the neighboring town of Wilton, at the same time the greater part of its business is in this county and the greater number of its officers are found in Cedar. It is proper for that reason to take it into account in this chapter.
MILL
DAVANTI
THE NELSON MILL, DURANT. THE ONLY FLOURING MILL IN THE COUNTY
253
HISTORY OF CEDAR COUNTY
It was organized in 1872, and the form of the old policy states the particulars of its business in that it expresses in the first part of the constitution the reasons for the agreement to form such a company.
"Whereas, the farming community of Muscatine and Cedar Counties has long felt the necessity for a cheaper and safer fire and lightning insurance than that which it now has; also desiring to retain the large sum of money which has heretofore been taken from it without adequate consideration,
Now, therefore, we: John B. Ross, Thos. H. Fishburn, Peter Hildebrand, S. W. Whitmer, Chas. F. Brown, Amos Barnard, Jas. C. Walton, Eli Ross, John Ayres, C. P. Healy, Chas. Crawford, D. L. Wilson, C. W. Derby, J. M. Barn- hart, J. Piggott, Wm. Johnson, Michael Whitmer, L. C. Lindsey, Joseph Weaver, M. G. Whitmer, Eli Whitmer, C. P. Furst, Joseph Witmer, and all other persons who may become members hereof, do hereby associate ourselves into a Fire and Lightning Insurance Company to be known by the name of the White Pigeon Fire and Lightning Insurance Company, and do hereby organize by adopting the following articles of association: The object of the company is to insure buildings and personal property against loss by fire or lightning. The company is to be perpetual, except as provided by article 18, and to assume the rights, pivileges and immunities as provided by law for mutual fire insur- ance companies."
Note .- Article 18 referred to provided for the action of the board of direc- tors in the matter of cancellation of policies and the authority was given them to direct the affairs of the company according to their judgment in this respect.
The officers of the company are a secretary and treasurer, vice-president and president, and thirteen directors. Thos. H. Fishburn was the first president ; D. L. Wilson, vice-president ; C. P. Furst, secretary and treasurer.
This company was to be a mutual affair and could never be changed to a stock company. After a loss has occurred and has been adjusted each member is to pay his proportion, that is according to the amount of insurance he carries in the company. Of course penalties are provided for one who does not pay at the time he is notified.
The annual meeting of the company is held on the first Wednesday of Octo- ber of each year. Directors' meeting, second Wednesday in January and Sep- tember of each year, and the executive committee of the board, consisting of three members, on the first Saturday in April, June, and November, at ten o'clock a. m.
At the last annual statement of the company the following figures were given : Amount of insurance in force about $3,000,000; net gain for 1909, $64,000 ; amount paid in losses 1909, $7,000; amount paid other expenses, $860. Average cost of insurance per thousand for each year during the past thirty- seven years, $1.90.
When the company was reorganized recently some changes were made in the constitution., Protection will be furnished on town property of some de- scriptions and vehicles will be insured, barring the automobile, churches and school houses, and it is provided that they must be in good repair.
A single risk cannot be greater than $4,000. The company limits itself in responsibility in the case of carelessness.
254
HISTORY OF CEDAR COUNTY
It is provided that when the insurance falls below the gross amount of $100,000 the company may by agreement disband by notifying all the parties interested. A resurvey of all property insured is to be made in 1910 and every five years thereafter, as provided by the by-laws of the company.
The present officers and board of directors are here given :
President, C. W. Derby; vice-president, John Severin; secretary and treas- urer, H. Wildasin; directors, R. W. Hinkhouse, A. H. Klepper, J. S. Hetzler, F. W. Gray, Otto Schiele, C. L. McClellan, H. D. Thierring, F. L. Sheldon, John Bauman, John Bannick, John G. Klein, W. J. Leech, and J. C. Ferguson.
This association is permitted by its constitution to do business in all of Cedar County excepting the townships of Springdale and Gower.197
The Springdale Fire Insurance Association is a mutual organization. It began business in 1871, was reorganized, or reincorporated in 1889, and again in 1909, so it is up with the present conception of such companies. As its title indicates, it has its headquarters at Springdale, where its secretary resides. Its first territory was west of the river in Cedar County and Graham and Scott townships in Johnson County. This territory has been enlarged and takes in Cass, Center and Rochester townships in Cedar County and now includes Wapsi- nonoc and Goshen townships in Muscatine County, Lincoln, Scott, Graham, Cedar, Newport, East Lucas, and Pleasant Valley in Johnson County.
The policyholders elect nine directors, three each year, to manage the busi- ness. The directors elect the officers annually, namely, a president, vice-presi- dent and secretary-treasurer, who constitute the executive committee. The last named officer is the business manager.
During the first year Samuel Macy was the secretary-treasurer and there- fore the business manager; the second year, G. H. Maris; the third, D. W. Smith; and since that time or for the last thirty-six years Wm. Mather has held this office. The present board of directors is composed of the following named gentlemen : Al. Pearson, president; L. C. Greene, vice-president, and, as men- tioned, Wm. Mather, secretary-treasurer, and in addition to the officers, Eb. Fogg, J. W. Gray, W. Andrews, A. N. Hemmingway, P. M. Schooley, and C. C. Hampton.
The present amount of risks represent $1,580,000, showing a steady gain for each year since organization. The cost per one thousand of insurance for the entire time of thirty-nine years is the small sum of $58.09. The cost per thousand for the past ten years has been $23.29, making the cost per year only $2.329. The expense of conducting the business in secretary-treasurer's salary for ten years has been but $3,032, and the policyholders get their insurance at actual cost and save for themselves many thousands of dollars paid in premiums. In this state alone there are one hundred and fifty-three such organizations. In 1884 a mutual Tornado and Windstorm Association was organized in the state on a plan similar to the above to insure Iowa property. The Springdale Association insures against fire and lightning. The policyholders have full and free invitations to attend its annual sessions on the second Saturday in January.
One of the recent industries to come to the county was organized in the fall of 1905 to care for the sweet corn product the following year. The articles of
255
HISTORY OF CEDAR COUNTY
incorporation were not completed until March, 1906. The men concerned in the business as incorporators were Chas. and Walter Swartzlender, Wm. Wisener, R. A. Peters, C. O. Boling, R. P. Stout, G. D. Heming, Paul Heald, Sam Block, F. K. Gregg, J. E Britcher, W. W. Little, D. F. Alcorn, D. J. Lee, W. J. Moore, C. K. Ross, Sherman Yates, A. E. Pierce, W. T. Gilmore, Romeo Tracht, and R. Roberdee, nearly all of these men residents of Tipton. At that time the di- rectors were chosen from the incorporators, who selected Chas. Swartzlender, C. O. Boling, Sherman Yates, C. K. Ross, and D. F. Alcorn.
The officers were Messrs. Chas. Swartzlender, Boling, Block, and Moore.
This institution was located near the Rock Island tracks for the convenience of shipping and at a point where the interurban to be built will probably enter the city limits. The business is that of canning corn exclusively, and the factory is in operation only during the canning season. The capital is fixed at $20,000. The annual product is a standard as high as the market demands for the season and the company endeavors to have an acreage sufficient to supply the output contained in twenty to thirty-five thousand cans. The officers of this institution now are W. J. Moore, president; W. T. Gilmore, vice-president; Chas. Swartz- lender, treasurer; B. R. McGirr, secretary. Messrs. Peters, Roberdee, and Ross, the president and vice-president, are the present board of directors.199
The telephone system has been of gradual development. The first phones mentioned in the county history are referred to in the topic of "County Organi- zation," when under certain conditions the county would use an instrument. This was that the company would reach a certain point before any pay would be due. It is said and probably without any reason to doubt the truth of the matter that the first toll service began at West Branch eastward. The local phones formed the early exchange service. The present organization began from these combined. About 1896 the organization of the Tipton exchange occurred. The Davenport and Tipton line, as it is known now, was put into operation in 1902.
At the present time there are 100 miles of toll line and approximately 500 of rural lines. One thousand two hundred and sixty-three phones are now in service. It is estimated that about $9,000 has been expended recently in the equipment in Tipton alone.
The switchboard is selected from the best obtainable and there are four thousand feet of cable. Copper line has been substituted on much of the line for the betterment of the service. The line has exchanges at Bennett, Durant, and New Liberty, as well as in Tipton. There are twelve outside toll stations. The aim is to buy the best material and employ the best workmen. Eight em- ployees are kept very busy in Tipton, the payroll amounting to about four hun- dred dollars per month.
In this company there are five stockholders with 303 shares of stock. The officers are H. R. Chapman, president and manager.200
In 1883 the Iowa Telephone Company proposed to place an exchange in the county and a plea was then made for a union of all the telephone interests. During the fall of that year the only place left to complete the connection of all the districts was Cedar Bluffs.
256
HISTORY OF CEDAR COUNTY
In 1904 there were nearly 1,000 miles of telephone and telegraph in this county alone, according to the taxing lists. At that time thirty-three companies were doing business in this county.
The cement block and stone industry of the county has taken a large growth in recent years. Heigel and Gilmore of Tipton began in 1904, when they incor- porated. Recently the industry was started in West Branch by A. C. Hunter and C. A. Macomber to produce high-grade building blocks and other products of like nature.
At Stanwood a company was recently organized to manufacture cement products and it was duly incorporated under the title of the Stanwood Cement and Tile Company. The company was incorporated for $4,000 and the follow- ing board of directors were appointed: Chris. Stoecker, Geo. Findlay, Chas. Hoyman, Jas. Maley, A. D. Claney, Sr., C. L. Rigby, and B. E. Burgess. C. L. Rigby was elected president of the company. The company will manufacture cement tile, bricks, building block, in fact anything in the cement products.
The company is composed of Stanwood's leading business men and prominent farmers. Plans will be begun at once for the erection of a plant conveniently located and equipped with the latest cement machines. As soon as the articles of incorporation have been completed and the legal part of the company attended to, they will be ready for business.201
A new industry in the county, which is perhaps the least known as to its business extent and plans, was organized at Mechanicsville in 1904. This is the Graham Nursery Company. J. M. Graham is the president and the head of the business, spending much of his time putting the stock on the market. Della M. Graham is the secretary of the company and William Gibbs foreman. At the present time the company have forty-five acres of trees and produce 300,000 an- nually. They are capitalized at ten thousand dollars and are now doing a wholesale and retail business in their line. This is a growing firm and its possi- bilities are large.202
In 1893 Mr. Huchendorf sold his mill at Pine Creek and in looking for a new site was undecided as to the choice between Wilton and Durant. About that time some of the public-spirited farmers in the vicinity of Durant offered to give some inducement toward the building of a mill, which suggestion settled the matter of doubt in the mind of the builder, and Durant got the mill. The structure was completed in 1894. In 1903 the mill was sold to Kruger and Nelson and four years later M. E. Nelson bought the interests of his partner, and the new firm was called Nelson Brothers, who now operate the mill in the manufacture of high-grade flour. This is sold to the trade of the surrounding country in a radius of twenty miles and is delivered by team over this distance. They have furnished the county farm north of Tipton with flour at various times. Their exchange trade comes from as far as thirty miles distant, all the old mills of the early trade now being out of business. The capacity of this mill in full service is seventy barrels daily, and it aims to turn out all the products of a first-class mill. Finally it may be said that this is the only flour mill in Cedar County and, to quote from the Davenport Democrat, "an industry of which Durant and Cedar County may justly be proud."203
HANDLING HEAVY BLOCKS IN THE BEALER QUARRY
C & E. 1 MM
ROCK ISLAND
SI IND
ROCK ISLAND
5909
F-16-2
GENERAL VIEW OF THE BEALER QUARRY
259
HISTORY OF CEDAR COUNTY
Before Mr. Kettell began the manufacture of brick on the ground south of the Masonic cemetery, near the road leading to Mormon Hollow, the brick and tile used in Cedar County had come from factories in Illinois. His was one of the first ventures in Eastern Iowa.
The firm at the beginning was Kettell and Lambert. They put up a kiln, molded the brick, burned and sold them on this ground. Business being of a discouraging nature they ceased to manufacture any for one year. Then they added tile machinery and continued the business. A horse-power machine with a capacity of six thousand three-inch tile per day was installed. The first year 30,000 were sold, and the increase in trade led to increase in capacity and a new engine and machine was purchased. Additions were made to the yard until the equipment was complete and the output was 400,000 annually.
All this product was distributed over the adjoining counties, most of it by wagon.
In 1886 the tile factory was moved to the present site near the track. The cost of moving was about three thousand dollars.
The brick in the Cedar County Bank building, Rowell block, the City Hall, buildings at the poor farm, and the school house were made by the Kettell yard.
Since Mr. E. Wilson took possession many improvements have been made that make the factory modern in all its features. It may run the year round since the steam drying rooms may be heated to the desired temperature at any time of year. There are four kilns and one is usually burned at a time. Two drying sheds of two floors, making practically four of the usual capacity. Steam pipes carry the heat the entire length of these sheds. The sheds are filled and dried alternately, so that while one is heating the other is cooling ready to be put into the kiln. The burning is on the same plan of alternately firing and cooling. No heat is used in the brick shed, that being needed only in the summer season. One hundred thousand three-inch tile may dry at one time.
There is everywhere an evidence of the economy of labor and material. The water is pumped on the ground and carried in pipes to the clay pit to be used in softening the hard earth, making it much easier to handle. The clay must be soaked at some time before grinding and the use of the water in the field is no waste. A dumping platform for the clay carts allows the load to fall into the pit for the daily supply without any handling by hands or delay.
The yard employs from fifteen to twenty men all the time, and during the year 1910 burned 78 kilns of brick and tile. The previous year 54 kilns were burned. The output and sales of 1909 amounted to $20,000. The stock now on hand, 1910, is the largest in the history of the yard.
Territory in a radius of fifty miles is supplied in car lots. Contrary to the custom in the days of the first factory established by Mr. Kettell the wagon trade is of little consequence.
The season affects the trade very materially, it being very difficult to tell what the market may be. The large stock on hand may be in demand or not as the season may be wet or dry.
Some time is required when a kiln is opened before the tile is cool enough to remove. As an illustration of the retention of the heat one may mention that the
1
260
HISTORY OF CEDAR COUNTY
second day after the kiln has been opened bread may be nicely baked as in the old brick ovens of our grandfathers.204
The largest produce packing and shipping concern in the county now is repre- sented by the Craven Company of Tipton, Geo. F. Craven, proprietor. The record of the business since it was established is well shown in the figures given since its organization in 1906, October I.
The business conducted includes the handling of poultry, eggs, butter, and cream. During the packing season the first fall and winter, 1906-07, about fif- teen hands were employed and 150,000 pounds of poultry shipped by local freight only, as no car lots were sent out the first year. Car lots of eggs were shipped in the spring of 1907 to the number of eighteen. In the winter of 1907-08 twenty-five men were employed and 200,000 pounds of poultry put upon the market in car lots. The following spring during the season thirty-four cars of eggs were shipped from Tipton. Repeating the experiences of the previous year about the same number of men were employed and 260,000 pounds of chickens, ducks, and like product shipped to the eastern market, much of this going as far as Boston.
In the egg season of 1909 the large number of sixty-four cars left this plant and the mark is set this year to seventy-five cars of eggs alone. This number will be reached if the present rate is continued through the following months. The past fall and winter was not a favorable one for packing so far as the early part of the year was concerned and not so large a shipment of poultry was put up, although over 200,000 pounds was a fair output for one establishment when a number of other shippers from near-by cities are buying in the vicinity or on the borders of the county.
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