USA > Iowa > Hamilton County > History of Hamilton County, Iowa, Volume I > Part 45
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THE STANHOPE NEWS
The Stanhope News was published during 1892 by Joe E. Fardal, but in April, 1893, it was suspended and its subscription list transferred to the Jewell Record.
THE JOURNAL
The Webster City Journal was established by Will F. Smith and Furman Tuttle in May, 1894. In April, 1896, Tuttle bought the interest of his partner and conducted the paper alone until 1902, when he sold out to C. D. Hellen, who commenced the publication of the Daily Journal. In 1906, the Journal was bought by Geo. C. Tucker and Carl Haeger and the daily discontinued.
THE STANHOPE MAIL
was established by Fred Barkhurst in 1896, and afterward came under the management of F. C. Runkle. It was discontinued in 1910.
THE JEWELL CLIPPER
was established by I. A. Lee and Frank Standers in February, 1898. In a few months they sold to Henry Russell and in about a year the paper suspended.
THE WILLIAMS WASP
was founded in July, 1897, by W. H. Hellen. After several years, he sold to Yost D. Wallace, who conducted the paper until 1909, when he sold to Lloyd Walterick, the present editor and owner.
THE HORNET
Several years after the sale of the Wasp, W. H. Hellen & Son started the Hornet. The Hornet was a very peppery sheet and enjoyed quite a patronage at first, but the plant finally burned and though the paper was published awhile after the fire, it was soon forced to suspend.
ELLSWORTH CHRONICLE
At Ellsworth, the Chronicle was published for some years by John A. Dig- gerness and at present that town is represented by the
ELLSWORTH NEWS
The News is edited by S. C. Satter, a very original writer. As a humorist he has few superiors in the state.
CHAPTER XXV
BANKS AND BANKING
One of the greatest factors in the civilization and development of a new country is the bank. It increases the available ready money, stimulates business and establishes credit. Without the bank, business progress would be slow and cumbrous, but with a carefully managed bank in a community the circulating medium is not only largely increased, but is kept in active circulation.
Hamilton county has been fortunate in its acquisition of bankers. In all the history of the county there is recorded no bank failure. Every dollar deposited in a Hamilton county bank has been returned on demand to the depositor and every investor in bank stock has found his investment not only safe, but increas- ing premiums have added to the value of his stock. There have been times of business depression and financial panic but the banks almost without exception can point with pride to the fact that no matter how unsettled the financial con- dition their customers have been taken care of. The oldest bank in the county is the
HAMILTON COUNTY STATE BANK OF WEBSTER CITY
This bank was established in December, 1867, by B. F. Miller. It was con- ducted as a private bank and its place of business was in a frame building located at the northwest corner of Seneca and Division streets. In 1868 Jay Sternberg became a partner and the business was conducted under the name of Miller and Sternberg. After a while the bank and the building it occupied were moved from Seneca street to Second street and was located at No. 612, and the old bank building is now occupied by the Oleson jewelry store. In June, 1872, Miller took as partners W. C. and S. Willson, J. M. Funk and W. W. Funk and the bank was moved to the northeast corner of Second and Des Moines streets and was known as the Hamilton County Bank. On July 15, 1875, the bank was purchased by L. A. McMurray and Oliver K. Eastman. It was still a private concern and was still known as the Hamilton County Bank. For years the Hamilton county bank had a struggle for existence. There was not much money in the country and de- posits were merely nominal. In those days, bankers were often politicians and the control of public funds was the chief source of profit. The Hamilton County Bank was unfortunate in its political connection and for years was unable to secure the deposit of any public funds. But in spite of this disadvantage the institu- tion grew and on May 28, 1883 was organized as a national bank with a capital of $50,000. About seven years later ( July 17, 1870), the national charter was surrendered and a state bank was organized with a capital of $100,000. In 1896
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HISTORY OF HAMILTON COUNTY
it erected for its home at a cost of $40,000 what was at that time the finest bank building in northern Iowa. This building is located on the northwest corner of Second and Des Moines streets. The growth of the institution has been steady and enduring. In 1875 the deposits were merely normal while in 1912 they reached over $918,000.
In 1875 L. A. McMurray became its president, has held the position contin- ually for thirty-seven years and still gives active personal attention to the affairs of the bank. There have been but two vice presidents. Jacob M. Funk was elected May 28, 1883. and continued to occupy the position until the time of his death in 1905. After the death of Mr. Funk, John L. Kamrar was elected and the posi- tion is still occupied by him. There have been but six cashiers, O. K. Eastman, John W. Funk, Cyrus Smith, J. O. Lenning, F. H. Alexander and B. F. Paine.
To sum up, this is the oldest bank in the county. It carries the heaviest de- posits. It has been under the same management for thirty-seven years. It has been first in all movements in progressive banking.
FIRST NATIONAL BANK OF WEBSTER CITY.
The First National Bank of Webster City was incorporated in A. D. 1871, by Kendall Young, L. L. Estes, E. S. Wheeler, C. T. Fenton, A. D. Arthur, O. K. Eastman. W. W. Boak, and D. D. Chase, with a capital of $50,000. Its charter bears date September 8, 1871, and its number is 1874, indicating that it was among the earliest of the national banks organized. In 1891 its capital was increased to $100,000. Kendall Young was its first president and continued as such until his death in 1896. L. L. Estes was vice president from its organization until the death of Mr. Young when he was elected president and continued to hold this office until his death in 1909, when W. J. Covil was elected to succeed him. The brick building on the east side of Seneca street now occupied by H. HI. Himebaugh was the first home of the bank. In 1891 the bank was moved to the corner of Seneca and Second street, its present location. The first report to the comptroller of the currency December 16, 1871, shows deposits of $37,161.16 and the last report September 4. 1912, shows deposits of $762,390.48, with a surplus and un- divided profits of $77,868.14. The following are the directors and officers of the bank at this date, September. 1912: President, W. J. Covil ; vice president, E. F. King: cashier, W. C. Pyle; assistant cashier. E. E. Mason; assistant cashier. H. O. Cutler. Directors-J. M. Richardson, W. J. Covil, W. C. Burleson, E. F. King, W. C. Pyle, Wesley Martin, E. E. Mason, M. L. MeCollough, J. W. Young.
THE FARMERS' NATIONAL BANK
The Farmers' National Bank was organized as a national bank in 1885, suc- ceeding the private bank of Miller & Mattice. The incorporators were J. M. Jones, B. F. Miller, George Shipp, Charles T. Fenton, J. W. Mattice and W. P. Miller, who composed its first board of directors. B. F. Miller who had started the first bank in Webster City became the first president of this institution, which office he held until 1890, when he resigned the presidency to engage in other business. J. M. Jones was at that time made president ; George Shipp, vice president ; and J. H. Shipp. cashier. They remained the managing officers until 1898, when on the
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OLD FIRST NATIONAL BANK BUILDING ON SENECA STREET. WEBSTER CITY
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HISTORY OF HAMILTON COUNTY
death of George Shipp, Robert E. Jones became vice president. In 1909 Robert E. Jones was elected president. Since that time the board of directors has con- sisted of J. H. Shipp, J. M. Jones, Robert E. Jones, L. L. Treat, O. A. Hall, H. A. Crandall and Varick C. Crosley.
The building owned and occupied by the bank was erected in 1894. Its front is made of stone hewn out of prairie boulders, making an appropriate and sub- stantial home for this institution. Since 1890 the active management of the bank's affairs has remained in the competent hands of J. M. Jones and J. H. Shipp, as- sisted in later years by Robert E. Jones. Under their guidance the bank has grown in the esteem and confidence of the people of Webster City and Hamilton county until it now enjoys the reputation of being one of the strongest banks in the state, its deposits having increased from $50,000 in 1890 to over half a million dollars in 1912. A compilation of the records in the comptroller's office at Washington, D. C., shows this bank first of all the national banks in lowa in ratio of surplus and undivided profits to capital. In addition to a large patronage from the people of Webster City this bank has an extensive business with farmers and stock feeders living in the extremely rich agricultural district which surrounds Webster City. Efficient, prompt and courteous service unfailingly rendered is the keynote of this bank's success.
WEBSTER CITY SAVINGS BANK
was organized in 1897. Principal stockholders at the time of organization were F. M. Fuller. F. A. Edwards, D. C. Chase, W. C. Burleson, Geo. Olmstead, S. R. Hoyt, Bert Arthur, J. E. Quackenbush, W. F. Hunter, John Richardson. Capi- tal stock at time of organization $10,000.00. Has been increased several times and is now $35,000. Officers at present time-W. C. Burleson, president ; F. M. Fuller, vice president ; W. B. Rood, cashier ; J. A. Boeye, assistant cashier ; R. H. Ash, bookkeeper.
F. A. Edwards was the founder and first depositor, and for years, until the time of his death, November 23. 1910, had active charge of the affairs of the bank, and it was owing to his business sagacity and foresight and standing in the com- munity that the bank now occupies the place it does in financial affairs in the city.
At the present time the bank holds deposits of $185,000.00.
STATE BANK OF BLAIRSBURG
The Exchange Bank of Blairsburg was organized January 13, 1893, with a capital of $10,000. The first officers were H. C. Tuttle, president ; B. M. Merrill, vice president ; R. J. McVicker, cashier. Stockholders at the time of organization were R. J. McVicker, W. H. Tuttle, McNee & Brown, Il. C. Tuttle, L. A. Mc- Murray, H. A. Eames, J. L. Kamrar, Geo. Castner, B. H. Merrill, W. F. Powers, E. I. Johnson, Geo. Herr Reinicker, L. F. Houck, Jacob M. Funk.
In May, 1895, capital was increased to $14.500.00. On January 6, 1902, stock- holders of the old Exchange Bank of Blairsburg voted to increase the capital stock to $25,000.00, and to incorporate as the State Bank of Blairsburg. The State Bank of Blairsburg took over the business of the old Exchange Bank of Blairsburg on February 5, 1902.
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HISTORY OF HAMILTON COUNTY
Officers of Exchange and State Bank of Blairsburg since its organization : Presidents, H. C. Tuttle, January 13, 1893. to January 8, 1895; W. F. Powers, January 8, 1895, until his death in fall of 1903; J. C. McNee, January 6, 1904. to the present time.
Vice presidents, B. M. Merrill. January 13, 1893, to October 2, 1894; L. A. McMurray, October 2, 1894, to January 8, 1895; L. L. Estes, January 8, 1895. until time of his death in 1908; W. J. Covil, January 6. 1909, to the present time.
Cashiers, R. J. McVicker, January 13, 1893, to October 2. 1894; B. M. Mer- rill, October 2. 1894, to January 8, 1895 ; J. C. McNee, January 8, 1895 to January 6. 1904; Jas. W. McNee, January 6, 1904 to the present time.
Henry Klass made the first time deposit and certificate of deposit, number 1 being issued to him. There have been no runs or panics that affected the bank. Even during the currency panic of 1907 this bank paid cash at all times and did not resort to cashier's checks. On the night of October 23, 1897. three burglars attempted to rob the bank. They burst open the outside safe with a heavy charge of explosive and then attacked the inside steel chest but were frightened away be- fore they succeeded in opening it. They secured only a few dollars in nickels which were in the outside safe. One of the robbers, Edward Gilcoin, was shot though not seriously injured. He was captured and sent to the penitentiary. A contract has been let for a fine new one-story bank building, 26x54, to be made of brick with stone trimming. It will be modern in every way and will cost about $11,000.00 complete. The new building will be used exclusively by the bank.
A statement of the condition of the bank at the close of business April 3, 1912, shows the following condition :
RESOURCES
Loans and discounts
.$103.682.39
Overdrafts
527.65
Banking House and Fixtures
2,800.00
Cash on hand and in banks 64.646.37
$171,656.41
LIABILITIES
Capital stock
$ 25.000.00
Undivided profits
5.767.30
Deposits 140,889.11
$171,656.41
THE STATE BANK OF WILLIAMS
is the oldest state bank in the county, it having been organized as a state bank about three months in advance of the Hamilton County State Bank at Webster City.
The business of writing exchange was first commenced by Johnson Bros .. dealers in hardware in Williams in March. 1887. The banking system at that time was rather crude. Deposits were often placed in an envelope and the original money kept in that way for the owner until he called for it. In Janu-
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FIRST NATIONAL BANK, WEBSTER CITY
HAMILTON COUNTY STATE BANK, WEBSTER CITY
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HISTORY OF HAMILTON COUNTY
ary, 1888, drafts were printed with the heading, "Exchange Office of Johnson Bros." and in December, 1888, Johnson Bros. opened a regular exchange bank.
On March 21. 1890, the State Bank was incorporated and commenced busi- ness the following April with a capital stock of $25,000. At that time, the deposits were about $14,000 ; cash, $26,000 and loans about $13,000. In March, 1893, the capital was increased to $35,000. The deposits at that time were about $37,000 and loans $51,000. On March 21, 1908 the capital surplus and profits amounted to $47.000. the deposits, $183.735; cash, $42,800 and loans, $158, 100.
At the present time (1912), the capital, surplus and profit amount to about $50,000, the deposits about $300,000 ; cash, $100,000 and loans about $215,000. Thus has this institution steadily grown in strength since its organization twenty- five years ago.
The first officers of the State Bank were: G. G. Talcott, president; S. S. Morrison, vice president; E. I. Johnson, cashier; and H. N. Johnson, assistant cashier. In January, 1892, G. G. Talcott died and the following March, Edmund Crabtree was elected president; A. C. Fuller, vice president; E. I. Johnson re- tained the position as cashier ; and J. W. Wilkinson was elected assistant cashier.
In March, 1893, John Tomlinson succeeded A. C. Fuller as vice president and F. W. Tomlinson was succeeded by Ray T. Johnson as cashier. The officers at the present time are: E. I. Johnson, president; John Tomlinson, vice presi- dent; and Ray T. Johnson, cashier.
The bank owns an up-to-date banking house valued at $20,000 and is equipped with safety deposit boxes and all modern banking equipment.
The First National Bank of Williams, Iowa, was organized and opened for business October 12, 1900, with a capital stock of $25,000 and the first man to make a deposit was William Gerber, the present mayor of Williams. At the time of organization, the officers were: R. J. Hurd, president; and John Mc- Carley, cashier. Since that time, John McCarley has been promoted to the presidency and C. M. Trumbauer has been made cashier. At the time of the organization, a bank building valued at $7,000 was erected. The business of the bank has steadily increased until the deposits are now nearly six times as large as the capital stock.
The principal stockholders are R. J. Hurd, L. W. Schroeder, Mrs. Jane Worthington, N. P. Hyatt. E. F. King, William Whistler, H. S. Robbins, W. H. Rick, J. J. Carr, A. O. Carr, A. E. Howes and John McCarley.
A statement of the condition of the First National Bank of Williams at the close of business, June 14, 1912, was as follows :
Loans and Discounts $120,607.82
U. S. Bonds. 26,100.00
Real Estate, Furniture and Fixtures. 8,139.00
Cash on hand and in Banks 49,566.53
Total
$204.413.35
Capital Stock
$ 25,000.00 Surplus and Profits 10,351.32
Vol. I-25
386
HISTORY OF HAMILTON COUNTY
National Bank Notes. 25,000.00
Deposits 144,062.03
Total
$204,413.35
THE STATE BANK OF STRATFORD
commenced business as the Bank of Stratford, April, 1891, and was organized as a state bank, February 15, 1892. Articles of incorporation signed by G. S. Ringland, S. T. Meservey, Webb Vincent, of Fort Dodge, Iowa, and Augustus Anderson, Jonas Fallein, J. T. Drug, and C. O. Rodine of Stratford. Iowa, these being the main stockholders at that time. The capital stock was $25,000 and Augustus Anderson was elected president; Jonas Fallein, vice president ; and J. T. Drug, cashier. Among the first depositors were I. W. Hyatt and Rev. Carl Nelson. C. O. Rodine was elected vice president, January, 1895, to succeed Jonas Fallein, whose death occurred the previous November. In July, 1895, J. T. Drug resigned as cashier and was elected vice president and Edward Peterson elected cashier. In July. 1896, Mr. Drug severed his connection with the bank and C. O. Rodine was elected vice president to fill the vacancy. Mr. Rodine resigned as vice president in March, 1899, and G. S. Ringland took his place. Upon the death of Augustus Anderson, in 1904. P. A. Swanson was elected president, which position he still holds. In 1909, the interests of the outside stockholders living at Fort Dodge, Gowrie and Seattle, Washington, were purchased by Stratford capitalists and capital increased to $35,000.00. The bank is now owned exclusively by ninety Stratford stockholders and is in fact "A Home Bank owned by Home People."
. A comparative statement of deposits shows them to have been on July I, 1906, $98,000 : on July 1, 1908, $155,000; on July 1, 1910, $210,000; on July I, 1912, $240,000.
The surplus and undivided profits at the present time are about $15,200.
The bank did not suspend currency payments to its customers during the panic of 1907.
The present officers are: P. A. Swanson, president ; F. E. Lundell, vice presi- dent ; Edward Peterson, cashier. The directors are P. A. Swanson, C. G. Peter- son, F. E. Lundell, John Hubner and Oscar Lund.
THE STATE BANK OF ELLSWORTHI
The State Bank of Ellsworth was incorporated and commenced business on June 1, 1891. The principal incorporators were L. L. Estes, Osmund O. Len- ning, Peter Rushia. W. S. Worthington, J. M. Hoffman, O. A. Cragwick, K. Severson, James Caruth, M. IT. Brinton. K. Young. L. L. Treat, Knud Swen- son and John O. Ringstad. Its first officers were: M. H. Brinton, president ; L. L. Estes, vice president ; Simon Sogard, cashier. The capital stock at the time of organization was $35.000. M. H. Brinton continued to be president of the bank until the time of his death, which occurred in 1912.
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HISTORY OF HAMILTON COUNTY
FIRST NATIONAL BANK OF JEWELL
The Farmers' and Traders' State Bank of Jewell, was organized April 25, 1893, with a capital stock of $30,000. A. Alexander was president and Att. Alexander, cashier. On June 17, 1896, the bank was discontinued and the corporation dissolved. The owners of the Farmers' and Traders' Bank then organized the First National Bank of Jewell Junction, with a capital stock of $25,000. In September, 1912, this bank had a surplus and undivided profits of nearly $10,000; deposits of over $166,000 and loans of over $125,000. The officers at the present time are H. C. Smith, president and Att. Alexander, cashier.
STATE BANK OF JEWELL
The State Bank of Jewell was organized August 16, 1892, the incorporators being W. J. Chamberlin, William Anderson, J. W. Benson, John I. Wiley, Charles Knudson and D. C. Chase. The capital stock was $25,000 and its first officers were: W. J. Chamberlin, president ; William Anderson, vice president ; John S. Wiley, cashier. The officers at the present time are: Gilbert Knudson, presi- dent ; E. W. Knudson, vice president ; Carl P. Miller, cashier.
FARMERS' STATE BANK OF KAMRAR
The Farmers' State Bank of Kamrar, was organized with a capital stock of $25,000, May 7, 1903. Business was conducted by H. B. Kray until 1910, when F. H. Alexander was elected cashier.
STANIIOPE STATE BANK
The Stanhope State Bank, with a capital of $25,000, was incorporated July 20, 1892, by L. L. Estes and B. C. Mason. In 1896, H. E. Fardal was elected president and J. E. Sogard, cashier. The officers at the present time are: H. E. Fardal, president; Edwin Olson, vice president; E. G. Fardal, cashier. Since its organization the business of the bank has grown steadily. It has deposits of nearly $267,000 and loans of over $190,000.
FARMERS' SAVINGS BANK
The Farmers' Savings Bank of Stratford, was organized July 19, 1909. Its first officers were: J. T. Drug, president; E. H. Hawbaker, vice president ; E. A. Waller, cashier. The capital stock was $15,000.
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CHAPTER XXVI
THE CHURCHES
SOME CHURCH STATISTICS-THE METHODISTS-THE UNIVERSALISTS-TIIE GERMAN LUTHERAN CHURCH-THE UNITED BRETIIREN-CIIRISTIAN SCIENCE-CONGREGA- TIONAL CHURCH-THE FIRST BAPTIST CHURCH-ST. THOMAS AQUINAS CATHOLIC CHURCH-THE ENGLISH LUTHERAN CHURCH-TIIE CHRISTIAN CHURCH-NOR- WEGIAN LUTHERAN CHURCHI.
CHURCH HISTORY
The people of Hamilton county as a whole have had great respect for religion and religion has had a great influence upon their growth and development. When the settler moves into a new country to build a home, his first inquiry is regard- ing churches and schools and these influences in Hamilton county have always been matters of just pride to her people.
Statistics compiled in 1895, show that over half the people of Hamilton county made some profession of religion. The different denominations were represented as follows: 3,420 Lutherans, 1,652 Methodists, 656 Catholics, 650 Christians, 570 Congregationalists, 439 Baptists, 297 Universalists, 270 United Brethren, 64 Episcopalians.
Nine hundred and thirty-one gave their religion as "Protestant." One hun- dred and eighty-five were divided among other denominations and 7,542 gave no religious belief. There was but one pronounced Agnostic in Hamilton county. There were, however, many who professed religious belief, who did not belong to the churches of the county, for from other statistical tables compiled the same year, we find that the Lutherans had eleven churches with a membership of 1,728. The Methodists had eight churches with a membership of 922. The Catholics had two churches with a membership of 230. The Christians had two churches with a membership of 369. The Congregationalists had three churches with a membership of 432. The Baptists had two churches with a membership of 280. The Universalists had one church with a membership of 120. The United Brethren had two churches with a membership of 172. The total value of the church property in 1895 was over $107,000.
Ten years later, in 1905, the Christians had three churches with a member- ship of 565. The Congregationalists, five churches with a membership of 654. The United Brethren, four churches with a membership of 375. The Presby- terians, two churches with a membership of 262. But little change was reported in numbers of the other churches and their condition as to membership was practically the same as ten years before. The total value of church property in the county in 1905 is given at over $176,000.
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HISTORY OF HAMILTON COUNTY
FIRST CHURCH IN THE COUNTY
The Methodists were the first to organize a society, and as a good account of the first church is given in the Freeman of July 15, 1885, it is given here :
"The first religious society within this county, hence we have taken pains to inform ourselves in regard to the pioneer church which was formerly known as 'Swede Bend Church.' This was the Swedish branch of the Methodist Epis- copal church and was first established as the 'Webster Mission,' in April, 1854. : by G. Smith, and was to accommodate the pioneer Swedes who had settled along the Des Moines river at Swedes Bend, in what is now Hamilton and Webster counties. A few charter members are now residents of the county, among whom is Samuel Peterson of Marion township. In the fall of 1855, Andrew Erickson came from Jefferson county, as a supply to their charge and in 1857 became a resident preacher, holding church services at private houses. Through- out all these long years the gospel has had its heralds in the church either by supply or local preachers. In 1876, six acres of land was purchased of Andrew Johnson, located in the northeast quarter of section 32, Marion township-a mile from the Boone county line and two miles east of Webster county line, and on it was erected a beautiful church edifice, 36x50 feet. It is a frame structure, with a well proportioned steeple with belfry. The cost of the build- ing was $3.000. This, together with a neat parsonage built the following year (1877), which cost $1,000, and a church cemetery, a mile and three-quarters distant, makes one of the finest pieces of church property in Hamilton county. This church was dedicated January 7, 1877, by presiding elder, A. J. Anderson, now of Brooklyn, N. Y. Among those who have preached on this charge are Revs. John Bergren, Jo's Wigren, and John Simpson, the present pastor. The church now has a membership of 95. A Sunday school is in operation, which numbers about 75 scholars. Augustus Anderson has been superintendent for about ten years, but at present is assistant with Mr. Simpson as superintendent. A young people's aid society has lately furnished the church with a $115 organ. This church belongs to the Burlington district of the Northwest Swedish Methodist Episcopal church, which extends over eleven states, including lowa."
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