USA > Iowa > Scott County > Davenport > History of Davenport and Scott County Iowa, Volume I > Part 69
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SUGAR FROM CORN.
As in many other cities Davenport's industries have grown from small affairs and some of them are still diminutive, but not all. The Corn Products Refining Company has one of the largest concerns of its kind in the world, and its start in life in Davenport was on a very modest and economical scale. In the fall of 1872 H. G. Weinert, by experiment, succeeded in producing sugar from corn- starch-a species of grape sugar-and seeking assistance in his endeavor to go into the business of making the article, he submitted samples of his product to the Board of Trade, R. Krause, Nicholas Kuhnen and Thomas Scott being the committee of examination. After this committee had submitted the samples to brewers and noted chemists of the country, and obtained from them a gratifying analysis, a company was formed with a capital of $20,000 by H. G. Weinert, F. H. Griggs, H. H. Andersen, R. Krause, Otto Albrecht, H. O. Seifert, N. Kuhnen, John S. Davies, George L Davenport, J. H. Murphy and G. Schlegel, and buildings were erected for the manufacture of glucose, with Mr. Weinert as superintendent, but after the concern had been operated something less than two years at a considerable loss of money, the works closed down. In the fall of 1874 they were again opened under the superintendency of L. P. Best, having interested capital into the concern to the exent of $30,000, of which amount he himself contributed $3,000, and with new machinery the business continued about two years with indifferent headway, although success only meant a matter of money and requisite machinery. This was forthcoming in 1876 and the capital was doubied to $60,000, and from this on the plant grew in importance until a short time ago the company above named secured control and now with a capacity of 20,000 bushels of corn daily, over 500 people find employment.
VARIED MANUFACTURES.
Products such as glucose must be placed in a receptacle for shipment and tin cans seemed best to serve the purpose. Hence the manufacture of tin cans be- came one of the industries of Davenport and today one of the largest can fac- tories in the west is in operation here. The manufacture of washing machines in Davenport has reached large proportions and four factories are devoted to the business. Brooms, a very necessary and constantly used article, are made in Davenport and the first factory was started in a couple of small rooms on Front street. Today the largest broom factory in the country is within the confines of this city, with branch factories in Lincoln, Nebraska, and Boston, Massachusetts.
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The brooms turned out by this concern are of the best marketed and probably no state in the union but what handles these products. This factory and its branches were the conception and creation of local brains, capital and industry, and the business has a prominent place in the markets of the country. Daven- port also has its steel car works, which makes steel freight cars and from its large plant is constantly turning out its product to the railway companies of this country and those of other localities. The Davenport Wagon Works is another manufacturing concern placing its products not only locally but over a wide territory. Probably the largest and most important line of manufacture, how- ever, is that of metal wheels, the product of the Bettendorf Metal Wheel Com- pany. A description of the Bettendorf Axle Company and the Bettendorf Metal Wheel Company is given on another page. The Davenport Woolen Mills con- tribute to the list of important industries here and the manufacture of maccaroni has been increased to that extent that Davenport lays claim to having one of the largest plants devoted to making this delicacy now in existence. There are also two large cracker factories, giving employment to many hands, and the manu- facture of cigars here has, in the past few years, grown to vast proportions and demand the services of a host of men, women and children. Another flourishing industry is that of the Davenport Machine and Foundry Company, dealers in engines, machines and all kinds of metal, steel, iron and foundry work. Mention should also be made of the overall, pearl button, pump, sash and door, soap, syrup, trunks and valises, vinegar, wooden shoes and other factories, but no detail of them can be here given. Davenport has her packing houses and is in the trade to no inconsiderable extent, and as a grain center it takes an important rank, which also may be said of its wholesale mercantile business, as it has a number of wholesale houses and many representatives on the road, most of whom make their homes here.
DAVENPORT LOCOMOTIVE WORKS.
The Whitehead Machine Works, for the repair of stationary engines and other like work, was started in the southwest part of the city. E. S. Johnson, J. H. Fiick, Dr. A. L. Hageboeck and Charles Pasche became interested in the concern and eventually bought it of Mr. Whitehead and changed the name of the concern to the Davenport Machine Works. From this time on the business prospered and the gentlemen comprising the company by adding more money increased the plant and the features of the work, thus widening the scope of its operations. Being alive to the fact that there was a great demand for small loco- motives, the firm immediately changed its name to the Davenport Locomotive Works and began the erection of suitable structures for building light locomotives on a grand scale. The company was reorganized with E. S. Johnson, president ; J. H. Flick, vice president ; A. L. Hageboeck, secretary ; and S. M. Hill, treasurer.
When the company first commenced to build locomotives its plant covered about two acres and something like seventy-five men were employed. The largest engine they made was a fourteen-ton locomotive. They advertised the manu- facture of small locomotives for contractors, brick-makers, lumber mill haulers, sugar plantations and mines, and fitted their shops to do this work. engaging the
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highest skilled labor, using the best material, securing the best designers and competing with the eastern builders of established business and reputation for such engines until the business increased rapidly. As their output increased they increased their facilities. In 1902 they turned out about fifty locomotives of the fourteen and eighteen-ton types; in 1903 they turned out about seventy- five; in 1904, something over 100; in 1905, over 150; and today their output is double the last figure. During this time they have increased their buildings until their plant now covers something over seven acres of ground, on which there is a machine shop, forge shop, carpenter and pattern shop, a boiler shop, engine and boiler house, warehouse and tool shop. Every machine in the boiler shop represents the highest attainment in design and make in its class in the world. The machinery is operated either by hydraulic or electric power-no shafting, belting or interdependent connection with any other machine. The entire plant is systematized and is arranged in departments. The man at the head of a department is an expert in his specialty and the superintendent is a locomotive expert. The company is now manufacturing locomotives that go to the west, south and southwest, Mexico and Central America, the Antilles and South America, the great Northwest and Alaska, the islands of the Pacific and the Philippines, China and Japan and in every state in the Union. This company manufacturers seven types of engines, ten sizes of each type, weighing from 17,000 to 120,000 pounds each. It is furnishing with each locomotive the follow- ing guarantee: "Every locomotive built by us, whether so stipulated in the con- tract or not, is guaranteed by us to be built in accordance with the specifications ; to be of the best workmanship and material; accurately constructed to our dupli- cate system and to develop the tractive force stated in its descriptive catalogue. Each individual part is guaranteed to be of good material and free from physical defects. This guarantee is intended to cover everything for which a builder can be considered accountable;" and it lives up to its guarantee. The Davenport Locomotive Works are the only regular locomotive manufacturers west of Pitts- burg, Pennsylvania. The Davenport Locomotive Works decided at the outset to be modern locomotive manufacturers in the strongest sense of the expression. They do no repairing. They make nothing but small locomotives.
After a meeting of the stockholders of the Davenport Locomotive Works held in February, 1910, $100,000 was added to the capital stock, making the total capital $550,000. The regular six percent dividend was declared. The following were elected to the board of directors: E. S. Johnson, Dr. A. L. Hageboeck, Charles Pasche, P. T. Walsh, J. A. Burmeister, Jacob Kastlin and W. G. Besler. This board elected as president, E. S. Johnson ; vice presidents, Dr. A. L. Hage- boeck and Jacob Kastlin ; secretary, August Sebelein ; treasurer, J. A. Burmeister. Jacob Kastlin, who had been manager, was appointed general manager and vice president. At this meeting it was decided to enlarge the plant and when the plans of the company are carried out the Davenport Locomotive Works, instead of occupying seven acres will cover about twenty acres of ground. At the present time a blacksmith shop and a main erecting shop is in course of construction, and as soon as possible the work on other buildings will be commenced.
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GREAT FACTORIES AT BETTENDORF.
W. P. Bettendorf came to Davenport years ago with small capital and a head full of ideas. There seem just as many ideas as ever but the capital has greatly increased, also his responsibilities. His inventions have been both numerous and practical. He has had the fine assistance of his father, M. Bettendorf, and brother, J. W. Bettendorf. 'All that they have put their hands to has prospered. Along at first after W. F. Bettendorf had planned and built his machinery there was a factory for making steel wagons. These were done in time to be shown at the Chicago exposition in 1893 and create a field in South America and the islands of the sea. These wagons were sheared out of sheet steel, turned, crimped, riveted, finished by hydraulic pressure and a furnace or two. In making this all steel wagon a metal wheel was made that has been a mine of wealth.
Later there were other factories, one for making axles and one for bolsters. In January, 1902, the first one burned, loss, $200,000. In May, the other one went the same way, loss, $250,000. The question of rebuilding or seeking a new loca- tion was solved by purchasing seventy acres in the sleepy suburb of Gilberttown, where great factories commenced to arise. The Gilberttown people were willing to be waked up and joined in to make their hamlet a city. The first move was to change the name from Gilberttown to Bettendorf, in honor of the family who were planning such an important future for the quiet suburb of Davenport.
In Bettendorf one of the largest and most complete steel car shops in the country has sprung up. The continually increasing business of the company has caused the constant making of plans for enlargement. The foresight which caused the purchase of so large a tract of land has proven good. In the location of the various buildings of the plant consideration was given to the rapid handling of material brought by the railroads which reach the town. The main shop erected at first was 700 feet by 240 feet. This shop had a capacity of twenty-five completed steel coal or tank cars per day, also seventy-five steel underframes and trucks.
Orders from the principal railroads of the country continued to come with increasing frequency and size. The New York Central wants Bettendorf cars ; the C., B. & Q. buys lots of them and the Milwaukee is still ordering. In the spring of 1910 an addition was commenced to the main shop which will treble the size and capacity of the works. When completed the main building will be 2,100 feet long. That would just about bridge the Mississippi from the Daven- port shore to the government island. A new foundry, 500 feet square, is being added to the plant, which will add a few hundred men to the Bettendorf force. In these great shops there are shears to trim steel plate that work like the scis- sors in a manicure set, hydraulic presses, sixty of them, ranging in size from fifty to 1,800 tons, and riveting machines that do the work. The material is worked cold, punching, shaping, trimming. Here is where the hydraulics come in. The rivets are worked hot, plenty hot.
To facilitate the handling of material and finished product there are twelve traveling cranes driven by electricity and traversing the length of the shop. Large I beams and channels, as well as completed cars, are picked up and swung
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around at will, while steel plates, as well as other structural shapes are picked up by the use of magnets attached to the cranes.
In the power house, 340 feet by 50 feet in size, there are engines of 10,000 horse power, dynamos for the cranes, electric lights, etc., air compressors or the riveting machines and other work and heavy duty pumps to furnish water under pressure for the hydraulic presses.
The Bettendorf cars, bolsters and underframes are winning their way in an open market in a surprising way. Orders have been coming in a way to embar- rass the company, but with that 2,100 foot shop, everything will square around. The business runs into the millions now, and there is no prophet in sight to pre- dict just where the expanison will end.
DAVENPORT'S CLEARING HOUSE AND BANKING INSTITUTIONS.
The "community of interests" idea was not given its full appreciation by the financial institutions of Davenport until the year 1895, when, in August, the bankers of the city organized the Davenport Clearing House association by elect- ing F. H. Griggs, president ; I. H. Sears, vice president ; Charles Pasche, secretary and treasurer ; and C. A. Mast, manager. The forming of this organization was for the establishment of a unity of interests among the banks for economic reasons, the expediting of interchange of commercial paper upon a systematic basis, establishing moral and financial support between the different banks of the organization, and the resulting united efforts of the banks for the promotion of the best interests of Davenport. From that day on the association's business has increased from day to day up to the present time. The total clearings of the first year amounted to $29,439,839, while the clearings for the past year more than doubled that amount. To be more exact the amount for 1909 was $67,110,- 645. F. H. Griggs held the office of president of the association until January, 1900, when he was succeeded by I. H. Sears, who retained his incumbency of that responsible position until 1903, and was then succeeded by A. Burdick. C. A. Mast remained as manager until January, 1897. At that meeting a new rule was formulated limiting the tenure of office of manager to one year, owing to the amount of work that devolved upon him, and since that time each bank has been required to bear its share of the work. The incumbent in the office for the year 1910 is J. E. Burmeister. The members of the association are: German Savings bank, Scott County Savings bank; Davenport Savings bank, Iowa National bank, the Citizens Trust & Savings bank ; Farmers & Mechanics Savings bank ; and the First National bank.
FIRST NATIONAL BANK.
The First National bank of Davenport, was organized and opened for busi- ness on June 29, 1863. As has been indicated elsewhere, Austin Corbin, the renowned financier, was the moving spirit in the organization of this institution, and it was owing to his energy and public spirit that it was the first national bank in operation in the United States under the national banking act of 1863.
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Upon the retirement of Mr. Corbin, Ira Gifford was elected to succeed him. He was followed by Major T. T. Dow, and he, in turn, by James Thompson, who held the position until 1894, when A. Burdick, the present president, succeeded him. D. C. Porter was the first cashier, and was succeeded by Lloyd Gage, brother of Lyman J. Gage, formerly secretary of the treasury of the United States. Mr. Gage was succeeded by John B. Fidlar, and upon Mr. Fidlar's retirement C. A. Mast was cashier for several years. Mr. Mast, in turn, was succeeded by George Hoehn, who served until his death, when L. J. Yaggy, the present cashier, was elected to the duties of that office.
Connected with this institution, from time to time, have been many of the leading financiers not only of the state of Iowa, but of the United States. It has always been a strong, conservative bank, and at all times has had the confidence of the people with whom it does business. Its capital stock has been increased from time to time until it is now $200,000. The surplus and the undivided profits, at the time of the call of the comptroller of the currency, was $109,431, while the deposits were $1,391,937. The officers of the bank at present are: directors, Anthony Burdick, John F. Dow, M. N. Richardson, Joe R. Lane, John P. Van Patten, August E. Steffen, John L. Mason, George W. Cable, Frank W. Mueller, Wilson McClelland and August Reimers; president, Anthony Burdick ; vice presi- dents, Joe R. Lane and John P. Van Patten; cashier, L. J. Yaggy ; assistant cashier, W. J. Housman. This bank is a United States depository and does a general banking business, receiving the accounts from other banks, corporations and individuals.
GERMAN SAVINGS BANK.
The German Savings bank is the largest banking institution in the state of Iowa. Its capital stock is $600,000, its surplus and undivided profits $704,750, while its deposits at the time of the last public statement were $10,552,109. The German Savings bank was organized and opened its doors for business April I, 1869, and is, therefore, forty-one years old. Its first officers were: directors, Henry Lischer, Robert Krause, J. M. Lyter, Nicholas Kuhnen, H. H. Andresen, L. Wahle, Daniel Gould, Otto Albrecht and Jens Lorenzen; president, Henry Lischer ; vice president, L. Wahle; cashier, H. H. Andresen. Mr. Lischer con- tinued to serve the bank as president until December 12, 1893, at which time he retired and H. H. Andresen was elected in his stead. At the January election of officers, in 1901, Mr. Andresen retired and Jens Lorenzen became the head of this great financial institution. It was in the fall of 1892 that Charles N. Voss became its cashier, in which position he served for fourteen years. This long and faithful service was rewarded on September 17, 1906, by the election of Mr. Voss to the presidency, Mr. Lorenzen taking the office of vice president.
The German Savings bank is the oldest savings bank in the city of Davenport although there had been a savings bank organized prior to it, known as the Davenport Savings institution-succeeded by the Davenport Savings bank. The present officers are: directors, F. H. Griggs, William P. Bettendorf, H. O. Seif- fert, T. A. Murphy, F. G. Clausen, Ed. C. Mueller, J. J. Richardson, Henry Braunlich and Charles N. Voss; president, Charles N. Voss; vice presidents,
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D. H. McKee and August A. Balluff; cashier, Ed Kaufmann; assistant cashier, F. C. Kroeger.
DAVENPORT SAVINGS BANK.
The Davenport Savings bank was the next to be incorporated and it opened its doors for business on April 1, 1870, with a capital of $12,000. The incorporators were Judge James Grant, C. E. Putnam, Abner Davison, James Armstrong, James Thompson, Ira M. Gifford, S. F. Smith, Thomas Scott and Francis Ochs. The capital stock has been increased from time to. time until it is now $300,000. Of this sum but $35,000 has been actually paid in in cash, the remaining amount having been paid in from its earnings. During the forty-one years of the bank's existence it has had but five presidents. C. E. Putnam, the first president, was succeeded in 1884 by Walker Adams. In 1888 Anthony Burdick was elected and continued in the office until 1905, when he was succeeded by William O. Schmidt, who held the office until his death, in August, 1908. It is interesting to note that Louis Haller has served as vice president for thirty-six years, from 1874 to the present time. Francis Ochs, the first cashier, was succeeded by R. Smetham in 1874. In 1879 Charles N. Voss, now president of the German Savings bank, became cashier, serving until 1885, when succeeded by J. B. Meyer. Henry C. Struck, the present incumbent, succeeded Mr. Meyer in 1892. The present officers are : directors, Louis Haller and Henry Kohrs, who have served since the organization of the bank forty years ago, Anthony Burdick, John F. Dow, Henry C. Struck, W. H. Wilson, August E. Steffen, John W. Gilchrist, and Theo. Krabbenhoeft; president, John F. Dow; vice president, Louis Haller; cashier, H. C. Struck; teller, Otto L. Ladenberger; assistant teller, A. Brunig; attorney, W. H. Wilson. The total amount of surplus and undivided profits at the time of the last public statement was $294,363, and the deposits, $4,016,442.
SCOTT COUNTY SAVINGS BANK.
One of the most important banks in the city of Davenport in point of stability, amount of its deposits and volume of business transacted, is the Scott County Savings bank. Organized December 1, 1883, with a capital stock of $50,000, it has developed into an institution with a capitalization of $250,000 and a total amount of deposits of $4,523,489, with surplus and undivided profits of $266,912. The organizers of this bank were I. H. Sears, H. F. Petersen, Charles F. Watkins, A. P. Doe, C. A. Ficke, Otto Klug, J. L. Miles, J. B. Phelps, George M. Schmidt. The officers were: president, I. H. Sears; vice president, H. F. Petersen; and cashier, Charles S. Watkins. During more than a quarter of a century the bank has had but few changes in its officers and directors. Its policy has been con- servative, and it has enjoyed the confidence of a constantly increasing clientele. At the close of business on December 4, 1884, the amount of deposits was $283,- 254-no dividends had been paid. On December 1, 1889, the total deposits were $803,486 and the amount of deposits required an increase of capital stock to $100,000. At this time the bank had paid to its stockholders $25,000 in dividends. Three years later, on December 1, 1892, the deposits had increased to $1,506, 843,
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and the capital stock was again increased, this time to $200,000. It was in December, 1898, that the total amount of deposits passed the $2,000,000 mark and the capitalization was raised to $250,000. The amount of deposits constantly increased from year to year, and in 1901 passed the $3,000,000 point, reaching the total above given on August 14, 1908.
Mr. Sears has served as president of the institution since the organization, as has Mr. Petersen, its vice president. Charles S. Watkins remained its cashier for one year, when he was succeeded by J. H. Hass, who still holds that important position. The present board of directors is composed of I. H. Sears, H. F. Petersen, J. W. Watzek, C. A. Ficke, Morton L. Marks, Patrick T. Walsh, Jo- hannes Sindt, Louis Hanssen, Jr., and J. H. Hass.
IOWA NATIONAL BANK.
The Iowa National bank was organized and opened for business May 15, 1889, with a capital stock of $100,000. A. P. Doe, the present president, was chairman of the first meeting of stockholders, and at this meeting the follow- ing officers were elected: directors, Charles Beiderbecke, John D. Brockmann, Henry Schroeder, A. P. Doe, W. P. Halligan, E. P. Lynch, C. A. Ficke, M. D. Petersen, William O. Schmidt, J. H. Hass, and A. Moritz; president, Charles Beiderbecke ; cashier, D. H. Vieths. Mr. Beiderbecke served as president of the bank until the time of his death, when A. P. Doe was elected his successor, on December 2, 1901. Mr. Vieths served as cashier until January 12, 1892, when Charles N. Voss succeeded him. Mr. Voss, however, remained with the bank but a few months, and on November 15th of the same year Charles Pasche was elected cashier. Mr. Pasche held the office of cashier for ten years, during which time the bank prospered and developed into one of the strong financial institu- tions of the state. He retired late in the year 1902, and at the following annual meeting, in January, 1903, J. E. Burmeister was elected to succeed him and is still holding that important position.
There have been few changes in the officers of the bank, the present board be- ing officered as follows : directors, A. P. Doe, John D. Brockmann, J. E. Burmeis- ter, W. H. Gehrmann, R. C. Ficke, J. H. Hass, W. P. Halligan, Ferd Haak, M. D. Petersen, Charles Shuler and Henry Wittenberg; president, A. P. Doe; vice president, John D. Brockmann ; cashier, J. E. Burmeister ; assistant cashier, F. B. Yetter. Present surplus and undivided profits, $164,012; deposits, $1,999,913. The capital stock has increased to $150,000.
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