USA > Iowa > Benton County > History of Benton County, Iowa. From materials in the public archives, the Iowa Historical society's collection, the newspapers, and data of personal interviews > Part 14
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137
HISTORY OF BENTON COUNTY
dropped his medical practice, and continued in this line of profes- sional work, in connection with his business and banking activities. until failing health forced him to retire. For many years he also operated a fine stock farm south of Vinton. He was a citizen of strong and honest character, and assisted in building up the city and county in a variety of ways, and his death at Vinton in 1898 was the cause for wide-spread and sincere mourning. The eldest of his eight children, William M. Traer, is said to have been the first white child born in Vinton (May 21. 1852), and was associated with him in the banking business for many years. He is now a res- ident of Chicago. James F. Traer, the seventh child in order of birth, has been cashier of the Vinton Savings Bank since its organ- ization in 1900.
BANKS AS POLITICAL CENTERS.
Later in the year 1856. after the establishment of the Traer bank. S. II. Watson and Judge Samuel Douglas opened a private bank in Vinton, and around these financial institutions gathered much of the early political activity of the county-the bank founded hy Messrs Traer and Greene being of a Republican complexion and that of the later comer. Democratic. What was known as the Wat- son bank was organized into a national institution in later years. and at the expiration of its charter was dissolved and continued as a private concern by Mr. Watson. For many years these were the only two banks in the city of Vinton. But in 1869, with the com- ing of the railroad. banks were founded at both Belle Plaine and Blairstown. That at Blairstown was founded by A. F. Allen as a private institution, and he is still at the head of its affairs. It was conducted as a private concern for eleven years, as the Benton County Bank for two decades, and for the past nine years as the Benton County State Bank. It is the only institution of the kind at Blairstown, and is considered one of the most solid banks in the state.
BELLE PLAINE BANKS.
Belle Plaine seemed to appeal to outsiders as a desirable place for new banks, after the county had been placed in railroad com- munication. In July, 1869. S. L. Bardwell. a Vermonter. established a private institution which afterward became the Bank of Belle Plaine, and in 1892 was nationalized as the Citizens' Bank of Belle
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138
HISTORY OF BENTON COUNTY
Plaine, with E. E. Hughes as president. Charles A. Blossom has held the presidency since June, 1897. and conduets the institution under strictly modern methods. In 1870 S. S. Sweet also founded a private bank at Belle Plaine, and continued to actively develop it until his death in 1909. It was organized as the First National Bank of Belle Plaine in 1872, with D. W. Read as president. Both Mr. Reed and his brother, L. T., were potent factors in the progress of the bank. the former being elected president and the latter rashier in 1877. Upon the death of L. T. Sweet in 1900, G. R. Ahrens, who had been connected with the bank since 1891. sue- reeded him as cashier, and became president after the decease of S. S. Sweet in May. 1909.
The third existent bank in Belle Plaine is the Corn Belt Sar- ings Bank, which opened for business May 5. 1906, with W. J. Guinn (the present incumbent ) as president.
VINTON'S OLDEST BANK.
The oldest bank at Vinton is the Farmers' National, an out- growth of the old Farmers' Loan and Trust Company, founded in 1873. In the winter of 1874 -- 5 George Horridge, the Ellises and others became indentified with the institution, and assumed the active management in the latter year. Professor S. A. Knapp, an educator and clergyman of remarkable executive ability, who had served as principal of the College for the Blind for six years, was president of the Farmers' Loan and Trust Company from its or- ganization until 1878, when he was succeeded by Mr. Horridge. In 1897 the Farmers' Loan and Trust Company liquidated and the same management organized the Farmers' National Bank. of which Mr. Horridge is still president.
The State Bank of Vinton, which was organized by Paul Cor- rell and others in 1891, retains virtually the original management. with Mr. Correll as president and Walter S. Goodhue, cashier.
THE HAALBERTS, SHELLSBURG BANKERS.
One of the first banks in the county was organized at Shells- burg in 1888, by Perry M. Halbert, and the business was continued by him and his sons. David K. and Albert N .. until its transfer to the People's Savings Bank of Shellsburg in 1906. Mr. Halbert was an Ohio farmer during his earlier years; came to Benton county in June, 1853, and for thirty-five years was a prosperous farmer
139
HISTORY OF BENTON COUNTY
in Canton township. After disposing of their banking business the Halberts moved to Cedar Rapids. The president of the People's Savings Bank at Shellsburg is now JJ. M. Beatty, with Charles F. Stookey as vice president.
The Benton County Savings Bank of Norway is also an old institution. as banks are reckoned in this part of the state. being founded in 1881. The Atkins Savings Bank was organized as early as 1894. The First National of Norway commenced business in 1904; the Urbana Savings Bank was founded in 1902; the Farmers' Savings Bank of Garrison in 1904 and the People's Savings Bank in 1909; the Farmers' Savings Bank of Walford opened for busi- ness in 1902 and the Mount Auburn Savings Bank in 1906: and there is also the Luzerne Savings Bank of comparatively recent establishment.
A more detailed history of the institutions named above will be found in succeeding pages. with statements as to their present financial status.
CITIZENS' BANK. BELLE PLAINE.
As already stated. the Citizens' Bank of Belle Plaine was founded as a private institution by S. L. Bardwell, a Vermont man. in 1869. It was afterward conducted as the Bank of Belle Plaine by Hutton and Maholm, and upon the dissolution of their partner- ship the business was taken over by the Citizens' National Bank. which commenced business in June. 1892, with E. E. Hughes as president. J. J. Mosnat vice president. and Charles A. Mosnat cash- ier. The capital remains at the original figure of fifty thousand dollars. In June. 1897. Charles. A. Blossom became president and S. P. Van Dike cashier, no change being made in the vice presideney until the death of Mr. Mosnat in 1903. S. Wertheim then was chosen vice president and is still in office. In 1907 J. F. Miller became cashier and W. O. Brand assistant. The surplus and un- divided profits of the Citizens' Bank amount to $30,000 and the deposits to $275.000.
In 1870 S. S. Sweet came from the east and established a private bank at Belle Plaine, the business being organized as a national institution, under the name of the First National Bank. in 1872. In that year the concern was nationalized, with a capital stock of fifty thousand dollars and D. W. Read as president and S. S. Sweet as cashier. In 1873 Mr. Read was succeeded by W. A. Scott, and J. A. Durand assumed the presidency two years later.
140
HISTORY OF BENTON COUNTY
S. S. Sweet assumed the helm in January, 1877, with his brother L. T. Sweet. as cashier. There was no further change in the official management until 1901, when G. R. Ahrens was chosen cashier to succeed b. T. Sweet, deceased. Mr. Ahrens had then been with the bank for ten years, was thoroughly familiar with the affairs of the bank, and it was quite logical that he should be promoted to the presideney upon the retirement of S. S. Sweet in January. 1909. The founder of the business died in the following May. The pres- ent officers are : G. R. Ahrens, president ; F. E. Zalesky, vice pres- ident and C. A. Sweet (son of S. S.) cashier. The bank has a cap- ital of $60,000, surplus and undivided profits of $60,000 and de- posits of $425,000.
CORN BELT SAVINGS BANK, BELLE PLAINE.
The Corn Belt Savings Bank of Belle Plaine opened for busi- ness May 5. 1906. with a capital of $35,000 (as at present) and eighty-five stockholders. W. J. Gnin is still president. with J. HI. Irwin as vice president and J. W. Van Nice cashier. The bank has a surplus of $3,500 and average deposits of $140.000.
FARMERS' NATIONAL BANK OF VINTON.
The Farmers' National Bank of Vinton is the successor of the old Farmers' Loan & Trust Company, which was organized at Vinton in 1873. The headquarters of the institution at first were in Cedar Rapids, but were moved to Vinton in October. 1874. Dur- ing the winter of 1874-75 George Horridge. Cornelius and W. C. Ellis. George Knox and others became identified with the insti- tution. They bought the present bank building and assumed the active management of the business in August, 1875. Mr. Knapp was president until 1878. when he retired. and George Horridge succeeded him. Vice President Kephart also retired about 1878. and W. C. Ellis has been vice president for more than twenty-five years. In 1897 the Farmers' Loan & Trust Company went into voluntary liquidation, the business was transferred and the same officers organized the Farmers' National Bank. The officers are as follows: George Horridge, president : W. C. Ellis, vice president ; (. O. Harrington. cashier; and George D. MeElroy. assistant cashier. George Knox and George M. Gilchrist are also on the board of directors. Throughout the career of these institutions there has never been a death of an officer while an active incumbent
141
HISTORY OF BENTON COUNTY
of his office. The Farmers' National Bank has a capital of $65,000. and its surplus is $20,000.
STATE BANK OF VINTON.
The State Bank of Vinton, was organized fifteen years ago by Paul Correll and Walter S. Goodhue. with fifty stockholders in Vinton and vicinity and a capital stock of $65,000; the last statement issued by the bank shows $65.000 capital and $20,000 surplus. The bank erected and owns the building now with a front- age of twenty-one feet. and upstairs rooms used for office purposes. Messrs. Correll and Goodhne continue as president and cashier. The board of directors comprises the following gentlemen: Panl Correll, Walter S. Goodhue. C. C. Griffin. M. J. Tobin, B. Murphy. Frank G. Ray. A. II. Abraham.
VINTON SAVINGS BANK.
The Vinton Savings Bank was organized in 1900, opening its doors July 21st of that year. The first officers of the institution were: W. C. Ellis, president : Cato Sells, vice president; J. F. Traer. cashier-the present officers being the same, with the ex- ception of the vice president. C. C. Griffin. The career of the bank has been uniformly prosperous, and it has constantly carried on a good business. The capital stock is $20.000 and the surphis $75.000. with total deposits of nearly $500.000. The building is located on Jefferson street. opposite the court house, and the institution is the only exclusive savings bank in the county. The bank is inter- ested in the growth and progress of the community, deriving its sources of investment largely through real estate loans. The enter- prise is represented by business men in good standing, and its affairs are conducted in a manner to inspire the public confidence and secure the support of the most substantial citizens of the com- mmmity.
PEOPLES' SAVINGS BANK. VINTON.
The People's Savings Bank of Vinton was organized in the summer of 1900 with a capital of $50.000. They own and occupy the building occupied for many years by the Watson bank. A. S.
142
HISTORY OF BENTON COUNTY
Chadbourne was the first president, and John Lorenz cashier. The present officers are John Young, president ; John Lorenz. vice presi- dent ; and 1. B. Allen. cashier.
PEOPLES' SAVINGS BANK. SHELLSBURG.
The People's Savings Bank of Shellsburg originated. as stated. in the private business established by Perry M. Harbert in 1888. On the first of August. 1906. it was transferred to the newly organ- ized Peoples' Savings Bank. with JJ. M. Beatty as president. Charles F. Stookey vice president. and A. K. Rife cashier-officers which still comprise the executive management. The other directors are J. G. Carrier, J. W. MeClintock. S. E. Railsback and W. W. Ilat- field. Besides conducting a general savings bank business. the management has a safety deposit department which is well patron- ized. In August. 1909. the deposits of the bank amounted to $191.536. The capital stock is $25,000.
BENTON COUNTY SAVINGS BANK.
The Benton County Savings Bank of Norway was organized in 1881. with the following officers: T. H. Brown, president; J. J. Messenger, vice president : and Thomas Atkinson. cashier. L. Uthoff is now president and J. H. Pickart, cashier. The last report made to the anditor of state shows a capital stock of $15,000; surplus and undivided profits of $18.000 and deposits of $143,000.
ATKINS SAVINGS BANK.
The Atkins Savings Bank was organized in 1894. and in December. 1909, was officered as follows: James Beatty. president ; George Rinderknecht, vice president: W. A. Fawcett. cashier, and George Rinderknecht. assistant cashier. . Its capital stock is $15.000; surplus and undivided profits $18,500, and deposits $250.000.
GARRISON BANKS.
Garrison has two good banks-the Farmers Savings and the People's Savings. The former succeeded the earlier Bank of Garrison in April. 1904, when it was incorporated as the Farmers Savings Bank by W. J. Urice. J. H. Brandt, M. J. Collins, J. W.
143
HISTORY OF BENTON COUNTY
Hama, C. J. Harwood and HI. C. White. Its original capital of $20.000 was increased in June. 1909, to $25.000. The two-story building still occupied as banking headquarters was erected by the Bank of Garrison in 1898. The first officers of the Farmers Savings Bank were J. W. Hanna. president: H. C. White, vice president, and D. D. Johnson, cashier. There has been no change in this management with the exception of the cashiership, which is now held by M. J. Collins. The People's Savings Bank of Garrison commenced business in August. 1909. and presents the following financial status: Capital stock. $15.000: deposits, $42,000. It. officers are as follows: A. IL. Wilson, president ; Henry Kirchner. vice president ; A. J. Donald, cashier; and John Wilson, assistant rashier.
URBANA SAVINGS BANK.
The Urbana Savings Bank was organized in August. 1902. with S. W. Whiteis as president, T. H. Romer as vice president and F. A. Bryner as cashier. The capital stock of twelve thousand dollars was subscribed for by forty business men and farmers of the locality. II. E. Oneal, who was later elected vice president. acted as president for a time after Mr. Whiteis' death, the time fixed for the choice of his permanent successor being in January. 1910.
FARMERS' SAVINGS BANK, WALFORD.
The Farmers' Savings Bank of Walford, organized in May. 1902, started business in September of that year, and has now undivided profits of $2,500, with a capital of $10,000 and the following officers: J. IT. Weston, president ; H. Humphrey, vice president ; and B. W. Humphrey. cashier.
FIRST NATIONAL BANK OF NORWAY.
The First National Bank of Norway was opened for business June 20. 1904, with C. P. Christianson as president, George 1. Doebel vice president. and J. T. Smith cashier. The present management consists of Dr. C. E. Simpson, president ; Jacob Hofferd. vice president : and John T. Smith. cashier. The bank has a capital of $25,000 ; surplus. $10,000; idivided profits. $1.500; and deposits. $210,000.
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HISTORY OF BENTON COUNTY
MT. AUBURN SAVINGS BANK.
The Mt. Auburn Savings Bank was organized August 1. 1906. and in August, 1909, had a surplus and undivided profits of $3,700 and deposits of $101.000. with a capital stock of $15.000. Its officers are as follows: D. E. Mackie. president ; C. E. Dorsey, vi ... president ; and P. L. Lupton, cashier.
LUZERNE SAVINGS BANK.
There is also a savings bank in Luzerne, of which A. F. Fatge is president and Martin Studt cashier.
PRESENT CONDITION OF BANKS.
The present financial standing of Benton county banks is shown in the following table.
1
Name of Bank
Location
Capital | Surplus & Profits
Deposits
Atkins Savings
Atkins
$ 15000 $ 18835.63|$ 245520.95
Benton ' Co. State
Blairstown
25000
13792.09
305016.30
Benton Co. Savings
Norway
15000
20359.041
163120.43
Citizens' National
Belle Plaine 1
50000
27536.00
243569.27
Corn Belt Savings
Belle Plaine
35000
7454.97 23855.29
160865.27
Farmers' Savings
Garrison
25000
317.46
185875.22
Farmers' Savings
Keystone
15000
1025.54
261116.30
Farmers' Savings
Van Horne
25000
2978.25
245212.74
Farmers' Savings
Walford
10000
2243.15
80607.73
First National
Belle Plaine
60000
60000.00
408943.65
First National
Norway
25000
11619.01
197392.17
German State
Keystone
25000
5488.19
266427.55
Mit. Auburn Savings|Mt. Anburn
15000
4138.15!
93857.38
Newhall Savings
Newhall
15000
19259.38!
235087.54
Peoples' Savings
Vinton
50000
28965.34!
404284.03
Peoples' Savings
Shellsburg
25000
404.97
190105.59
Peoples' Savings
Garrison
15000
42385.75
State Bank
Vinton
65000
24320.97
151375.77
Urbana Savings
Urbana
12000
8968.89
86825.03
Vinton Savings
Vinton
20000
8547.55
506933.76
Watkins Savings
Watkins
10000
11726.43
98062.39
Van Horne Savings!Van Horne
12000
524.98
69642.16
Inzerne Savings
I Luzerne
12000
65.90
62992.71
Total
$641000 $303427.18 $4864925.33
154705.79
Farmers'
National Vinton
65000
CHAPTER IX.
THE PRESS OF BENTON COUNTY.
BY BERNARD MURPHY.
"VINTON EAGLE" BORN-WHEN THE "EAGLE" SCREECHED --- THE "VINTON EAGLE" SALUTES-BERNARD MURPHY COMES IN- EARLY CHARACTERS OF THE " EAGLE" -- "BENTON COUNTY DEMO- CRAT"-VAN METRE VS. DRUMMOND -- "EVERY OTHER DAILY UNION." BELLE PLAINE-BELLE PLAINE "DEMOCRAT-HERALD"- "PEOPLE'S JOURNAL. " VINTON-VINTON'S FIRST DEMOCRATIC EDI- TOR -- "THE REVIEW" OF VINTON -- "BENTON COUNTY TIMES"- " WESTERN TELEPHONE JOURNAL. " VINTON -- "GARRISON INDEPEND- ENT"-"THE SHELLSBURG CALL"-THOMAS A. CARVER-VAN HORNE "METEOR"-VAN HORNE " ENTERPRISE"-" MOUNT AU- BURN NEWS"-DEFUNCT NEWSPAPERS. .
When the Press entered the pioneer arena of Benton county all the conditions of the community were in the unformed stage of the raw, infantile period. The county government was hardly out of its swadling clothes, and Vinton, Benton City. Marysville. Shellsburg. Geneva and less histy infants were trying to grow and making considerable noise about it.
"VINTON EAGLE" BORN.
When the Press of Benton county entered the fight for progress and development in the form of the little six-column quarto known henceforth as the Vinton Eagle (first number January 10, 1855). Belle Plaine was yet unborn. the county itself had been organized but eight years and means of communication with the outer world were vet virtually non-existent. It is true there were a few good roads in the county; but the river ferry at Vinton had been in operation less than three years, while the stage line. the toll bridge and the steamboat on the Upper Cedar were in the future-re- speetively, one, two and three years in the distance of time.
Vol. I-10
145
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HISTORY OF BENTON COUNTY
WHEN THE "EAGLE" SCREECHED.
It will thus be seen that the press of the county had strenuous work ent out for it as a promoter of infant communities: but it was equal to the task : and in this connection it is to be remembered that for over a decade all the hard work fell upon the Eagle, which notwithstanding, flew sturdily and cheerfully along, with an occa- sional screech (especially during election times) to maintain its reputation.
THE "VINTON EAGLE" SALUTES.
The Vinton Eagle was first independent in politics, and was issued by Frederick Lyman (editor) and Stanley C. Foster. Mr. Lyman's salutatory carries the following: "After realizing in- numerable unexpected, vexations delays of time. and a consequent waste of money; after shifting from pillar to post for want of better winter quarters, liable at every turn to be out loose and turned adrift from our temporary moorings. we have at last been successful in securing, three-fourths of a mile from town, an excellent. though temporary halting place. by which arrangement we have actually stolen time sufficient to 'catch breath.' and, by close application during the hours of daylight (our office is trans- formed into a church and lodge-room evenings). succeeded in presenting to the public this first, but imperfect specimen of an Eagle. We shall more than fulfill all former promises embodied in our prospectus, by excluding from onr columns either Demo- cratic. Whig or Abolition lies and bombast." The last sentence clearly indicates the desire of the editor to live up to the motto of his paper: "Independent in everything."
In August of the Eagle's first year a Democratic victory was recorded in the county. the vote for county judge being six hundred and nineteen. The second volune commenced with Lyman and Traer (J. C .. the merchant and banker). but the firm was dis- solved in February of that year (1856). when W. W. Hanford purchased Mr. Lyman's interest and assumed both editorial and business control.
With the withdrawal of Mr. Traer in August. the firm became Hanford and Lyman. and on February 4. 1857. they disposed of the Eagle to William Stoughton and Joseph Dysart, the latter of whom became state senator and lieutenant governor.
147
HISTORY OF BENTON COUNTY
THE VINTON LAGH
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PAY
148
HISTORY OF BENTON COUNTY
On the 20th of the following June, Mr. Stoughton dropped out and was succeeded by Thomas Drummond, so brilliant and popular as a legislator. an editor, an officer and a man. and also long to be remembered as the founder of the College for the Blind at Vinton. The partnership continued until October 10. 1860. when Mr. Han- ford became sole proprietor and Joseph Dysart political editor. The former continued in control until May 9, 1866, when the arm became D. Il. Frost and Company, with Mr. Hanford as silent partner, but in March of the following year the style was changed to Hanford and Frost. In October. 1868. A. C. Holt was assy- ciated with Mr. Hanford as Hanford and Holt. and two years thereafter the former became sole owner.
"VINTON EAGLE" PLANT.
BERNARD MURPHY COMES IN.
On January 4, 1871, J. W. Rich purchased a half interest. and Hanford and Rich conducted the paper until August 3. 1876. when Bernard Murphy, who had served his apprenticeship in the Fair office, bought Mr. Hanford's interest, and Rich and Murphy cane
.
149
HISTORY OF BENTON COUNTY
into existence. For twelve years the paper was operated under that style, and on October 11. 1887. Mr. Murphy became its sole editor and proprietor, and, as he has been at the helm ever since, is the acknowledged dean of the newspaper fraternity of Benton county.
Bernard Murphy is a native of Massachusetts, but has been a resident of Iowa since 1861. In 1867 he began his career in the newspaper business as an apprentice in the Vinton Eagle office. where he served for three years. For three years afterward he was a journeyman on the lowe State Register at Des Moines and the Rocky Mountain News at Denver. In 1874, with Hanford and Rich, then publishers of the Vinton Eagle, he started the Traer Clipper. Mr. Murphy became the owner of the Clipper in the following year. in August. 1876. becoming identified with the Eagle. He has therefore been its controlling force for thirty- three years and. through his forethought, complete files of the publication have been preserved since the first day of its issue in January, 1855. He has always maintained it as a straight Repub- lican journal. It is a semi-weekly six-column quarto, and in its news features undertakes to cover the county. It also carries a strong editorial page, and its mechanical equipment is up-to-date in every respect. Outside of his profession. Mr. Murphy has taken more or less interest in public and party affairs, and held the office of state printer from 1901 to 1906.
EARLY CHARACTERS OF THE "EAGLE."
Charles Wilkinson, an old-time lawyer and journalist, con- tributed an interesting article to the semi-centennial edition of the Vinton Eagle of January 10, 1905. in which he mentions several who are prominent in its history. In the summer of 1867. when he first came in touch with the paper. it was owned by Hanford and Frost (D. H.). and in October. 1868. the latter sold his interest to Andrew C. Holt. Mr. Wilkinson had been studying law. surveying on the Iowa Central railroad, and doing other things required of a young westerner who wishes to "get along." when the new firin offered him an editorial position, which he eagerly ac- cepted. At that time Mr. Murphy was in the last year of his apprenticeship in the Eagle office. later going to the lowa State Register. "In the publication of the Eagle," says Mr. Wilkinson, "Mr. Hanford looked after the bookkeeping and larger matters of finance, while Mr. Holt supervised the mechanical department and solicited business. Though as unlike as possible in personal ap-
150
HISTORY OF BENTON COUNTY
pearance and disposition, they formed a model combination. Mr. Ilanford was methodical and possessed excellent business judg- ment, while Mr. Holt, though apparently a very quiet, reserved man, had a remarkable ability to get next to people and make friends.
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