USA > Iowa > Wright County > History of Wright County, Iowa, its peoples, industries and institutions > Part 21
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GOLDFIELD BANKING.
The Citizens State Bank of Goldfield was established in 1888. It was at first the private bank of John Nicoll, who conducted it about two years, then sold a half interest to McElhinney Brothers, of Waterloo, Iowa. It was operated under the title of the Citizens Bank, until it was incorporated as a State Bank on October 27, 1902, since which time it has been known as the Citizens State Bank of Goldfield. It had a capital of $50,000. The first officers of the private bank mentioned were: John Nicoll, president ; F. F. MeElhinney, cashier.
The present officers are: Tressa O. Meklhinney, president ; John Montgomery, vice-president ; B. W. MeElhinney, cashier; W. K. Black- well, assistant cashier. The present ( 1915) capital is $25,000; surplus and profits, $25,000; undivided profits, $15,000. The deposits in May, 1915, were $394,298.76. Besides carrying on a general banking business, this concern writes life and fire insurance. The bank was robbed at one time of a considerable sum. The bank building consists of a two-story structure, of superior brick, the upper story being used as a printing office, and is heated by hot air. Preparations are being made to enlarge the building to make more room for desks for the increasing real-estate and loan department.
The following statement from one of the bank's officers will give the origin of banking in Goldfield: The first bank in Goldfield was a private bank run by O. C. MeIntosh, who after running it several years over a hardware store, sold out to John Nicoll, who continued the business a num- ber of years and sold a half interest to F. F. MeElhinney, and, later on his brother, B. W. McElhinney, took over Mr. Nicoll's interest in the bank, and since that time the bank has advanced by leaps and bounds until the present bank, the Citizens State Bank of Goldfield, lowa, is one of the oldest institutions in the county, its business reaching over the entire county as well as adjoining counties. The bank does a large farm-loan business, and deals heavily in real estate. The McElhinneys have been interested
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in this bank for over twenty-two years, and are also interested in a number of other banks.
The Farmers Savings Bank, of Goldfield, was organized on December 1, 1909, and was chartered in the same year. Its first officers were: M. F. Coons, president ; Frank Lynch, vice-president ; M. 11. Beery, cashier. This concern, which succeeded the old Bank of Goldtiekdl, was organized with a capital of $12,000, which has been increased to $20,000; present surplus and profits ( undivided ), $4,500; amount of deposits, in May, 1915, $140,- 000. The present officers are: M. F. Coons, president ; Frank Lynch, vice- president ; W. M. Coons, assistant cashier. The bank does a general bank- ing business. A bank building was erected in 1905, at a cost, including fix- tures, of $6,500. The resources and liabilities make a very creditable show- ing. This is a home bank, owned by home people, who take an interest in building up the town and community. The two mottoes of the bank are "Depositors' Safety," and "Service to the Public."
BANKING AT ROWAN.
The State Savings Bank at Rowan was established on May 1, 1909, by F. B. Sheldon, with a capital of $15,000, same as it stands today. The first officers were D. E. Harris, president ; O. E. Ballou, vice-president; F. B. Sheldon, cashier, the same officers still serving, with the addition of A. C. Reitz, assistant cashier. The undivided profits in June, 1915, were $9,000; amount in deposits, $197,700. \ general banking business is transacted. The only building ever occupied by this bank is valued at $2,500.
The present obliging cashier says he was born in Wright county in 1866 and has lived in the county all of his life. He has been in banking for fifteen years-nine years as a private banker at Rowan in an institution known as the Bank of Rowan. After two years the bank had deposits of $10,000 and was then incorporated as the State Savings Bank in 1909, with deposits of $100,000. He has seen land values in Wright county advance in value from forty dollars to two hundred dollars per acre here and be- lieves that this county will ever be ranked among the best in lowa.
BANKS AT BELMOND.
The first attempt at banking at Belmond was in 1871, when Dr. L. H. Cutler established a private banking house. He sold to McMurry & East- man in 1873 and they continued until 1875 and sold to Clark & Eskridge.
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WRIGHT COUNTY, IOWA.
In June, 1891, they incorporated as the State Bank of Belmond. Its first officers were: L. B. Clark, president ; J. S. Pritchard, vice-president ; O. G. Tracy, cashier. The bank erected its own building in 1892. The present president is A. L. Luick; cashier, John Berg. The present capital is $50,000, but was formerly $75,000. In the spring of 1915 the deposits were about $281,072, the undivided profits amounting at that time to $8,018.
This is the oldest bank in Belmond and has stockholders and officers well known throughout the county and stands for all that is strong in mod- ern-day banking. The directors are as follow: Joseph Bolining, C. N. Reese, Simon Simerson, M. F. Christie, J. Pletch, A. L. Luick, Ray H. Klemme, J. T. Tyrrell, Ole Thompson, Geo. F. Elder and John Berg.
The Iowa Valley Bank, at Belmond, was organized in 1881 by G. H. Richardson. The proprietor was president and D. E. Packard was cashier. This was a private banking institution until 1892, when it was made the Iowa Valley State Bank with a capital of $50,000, with G. H. Richardson, president ; W. M. McGuire, vice-president, and M. H. Littell, cashier. The Iowa Valley State Bank was changed to the First National Bank about June 7. 1907, with G. H. Richardson, president; W. I. Rosecrans, cashier, and B. Mennenga, assistant cashier. The present surplus and undivided profits are $5,000; present deposits, $90,000; stock, $30,000. The officers in May, 1915, were: W. I. Rosecrans, president; B. Mennenga, cashier; John Greenlander, assistant cashier. A general banking business is transacted in modern, business-like ways. The bank was chartered in 1907. In 1893 a bank building was erected at a cost of $11,600.
No one doing business in this bank has ever regretted his action, for all connected therewith have been business men of excellent business qualifica- tions.
The Belmond Savings Bank was organized in 1899 and was chartered the same year, its first officers being: 'Val Griesy, president; J. K. Miller, vice-president ; D. E. Packard, cashier. The bank was really established by D. E. Packard. Its first capital stock was $11,000, which has been increased to $25,000, with a $7,500 surplus and profits; present deposits, $165,000. Its present officers are: Fred Luick, president; C. P. Luick, vice-president ; D. E. Packard, cashier ; C. O. Fitts, assistant cashier. A bank building was erected in 1899 at a cost of about $2,800.
WOOLSTOCK BANKS.
The State Savings Bank at Woolstock was organized in 1892, the first officers being: L. L. Estes, president; L. L. Treat, vice-president; J. N.
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Olmstead, cashier. The officers at this time ( 1915) are: J. W. Tatham, president ; J. N. Olmstead, vice-president ; D. L. Doolittle, cashier. The first capital stock was $25,000, same as at present; undivided profits and surplus, $15,000; deposits, $145,000. The bank building is valued at $4,700, in which is carried on a general banking business. This is the oldest bank in Woolstock and has always had the confidence of the fine farming com- munity surrounding the town. The founders were all old Webster City financiers who knew how to handle money judiciously.
The Farmers Savings Bank at Woolstock was organized on August 20, 1910, by B. F. McDaniels, J. D. Reed, C. M. Spangler, J. B. Carpenter and M. H. Hirt, the first capital being the same as today, $15,000. The pres- ent surplus and undivided profits are $6,000; deposits, in June, 1915, $135,- 000. A general banking business is transacted along modern lines. The first officers were: B. F. MeDaniels, president ; J. D. Reed, vice-president ; M. H. Hirt, cashier. The officers in 1915 are: J. D. Reed, president ; A. Kohler, vice-president; M. H. Hirt, cashier. The brick bank building, erected in 1910, is valued at about $3,400. This institution operates under the banking laws of the state and is very safe and reliable in all its methods, the names of those connected therewith being sufficient to assure all de- positors that their business is in safe hands. .
BANKING AT DOWS.
The Farmers State Bank at Dows was organized as the Farmers State Exchange Bank in February, 1892, with a capital of $45,000, by John I. Popejoy as president ; L. R. Fober, vice-president ; G. C. Jameson, cashier. Succeeding this came the present bank known as the Farmers State Bank, organized in March, 1912, with a capital of $25,000, same as today. Its first officers were: G. H. Jameson, president; W. P. Mendell, vice-presi- dent ; O. M. Benson, cashier. The same still serve, except that the cashier is now L. L. Beinhouer. In the month of June, 1915, the deposits of this bank were $150,000; surplus and profits, $5,000.
The State Bank at Dows was organized and chartered in 1892, and was reorganized in 1912. It was established and officered as follows: J. C. Carlton, president ; D. W. Bowen, vice-president; H. E. Schultz, cashier ; U. H. Rummel, assistant cashier. Its present officers (1915) are: J. J. Johnson, president; John W. Carlton and R. W. Birdsall, vice-presidents ; U. H. Rummel, cashier; L. T. Quarsdorf, assistant cashier. The original capital was $25,000, which has been increased to $35,000, with surplus and
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WRIGHT COUNTY, IOWA.
undivided profits amounting to $6,000. The bank occupies a one-story brick building, twenty-two by sixty feet in size, erected in 1897, at a cost of $6,000. The resources and liabilities of this banking concern on April 19, 1915. were $704.263.81, as per the published statement. At that date it carried $656,- 421.28 in deposits.
That this is a safe and sound bank in which to transact business is ap- parent from the following list of directors behind the management : J. J. Johnson, C. M. Nagle, H. F. Klemme, R. W. Birdsall, J. A. Mulnix, Caro- line Ellsworth-Morton, John J. Carlton, A. O. Sime and U. H. Rummel.
GALT BANKING INTERESTS.
The State Savings Bank at Galt was organized in 1898 by J. J. Me- Guire, S. D. Woodley, AArthur Richards, P. A. Axen, J. N. Johnson and others, the first capital being $12,500, same as it is today. The first officers were: A. Richards, president ; J. J. McGuire, cashier. The present officers are: M. A. Mickeldon, president ; C. M. Nagle, vice-president ; J. J. Axen, cashier. The bank now has a surplus of $3.300; deposits, $82.774.19. The bank building was erected in 1889, at a cost of $2,500 and is owned by the bank. This is the only bank Galt has ever had.
BANKING AT HOLMES.
At Holmes, this county, a private bank was established in 1900, with a capital of $5,000, on which a general banking business is transacted. The surplus and undivided profits in June, 1915, were $8,000. B. W. MeEl- henney, of Goldfield, is president ; A. E. Weber, vice-president ; 1. . \. Stroup. cashier. Considering the demands of the little hamlet-a station on the Rock Island road midway between Goldfield and Clarion-this institution is serving well the purpose for which it was organized, and cares well for the patrons of the town and surrounding rich farming section.
RECAPITULATION.
In 1910 the banks of Clarion had deposits amounting to one million dollars. The showing made by the various banks within Wright county in the early summer of 1915 was as follow :
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Capital.
Banks of Clarion
$135,000
Deposits. $1,056,588
Banks of Eagle Grove
150,000
1,047,000
Banks of Goldfield
45,000
534,000
Banks of Rowan
15,000
197,700
Banks of Woolstock
40,000
280,000
Banks of Dows
60,000
816,421
Banks of Galt
12,500
82,774
Banks of Holmes
5,000
Banks of Belmond
105,000
536,000
Totals
$567,500
$4.550.483
Besides this, these banks have large surplus and profits not included in this reckoning.
CHAPTER XX.
BELMOND TOWNSHIP.
Belmond is the second township from the east and on the north line of Wright county, with Hancock county at its north, Pleasant township to the east, Grant to the south and Norway to the west of its territory, which comprises all of township 93, range 24 west. The eastern and northern portions contain the valley of the west branch. of the Iowa river, which unites with the main stream on the township line at the east, just above the town of Belmond. Hickory grove, a considerable body of timber, is found in the north part of this township. Along the stream named and in sight of Belmond may be found some of the finest farms in all the far- famed Iowa valley. The scenery is ever a feast to the eye. Fine farm houses of modern type, splendid barns, silos and all that goes toward making the farmer boy contented with his lot are here seen on every hand. The western portion of Belmond township is somewhat higher land, with a clay sub-soil distinguishing it from the sandy sub-soil of the valley land near by. This higher upland is rich and will outlast the soil nearer the river. The extreme western part of the township is exceptionally rolling and con- tains a number of sand-bottomed lakes, those called the Twin Sisters being separated only by a narrow roadway. In the southern part, Plum Grove lake was, in the pioneer days, a pretty sheet of water, bordered by a fine grove of native timber, which has long since been cut down, with the steady march of civilization. With the cultivation of the surrounding country, this lake has virtually disappeared. To be a freeholder of land in this goodly section of the county is to be more independent than a king.
The population of Belmond township in 1910 was placed at seven hundred and seventy-five, which included that portion of the village of Bel- mond within its territory. The Scandinavian people largely possess the western portion of the township. They are among the best citizens in the county; are frugal, honest and fast becoming thoroughly Americanized. Their homes display much good, practical taste and they fully appreciate the land on which they live, making each acre yield its annual crop, which enriches their possessions.
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WRIGHT COUNTY, IOWAA.
ORGANIZATION.
Belmond township was separated from Pleasant township in 1860, as will be observed from the records of the county court :
"Now, on the 6th day of August, A. D. 1860, comes Henry Luick, a citizen and freeholder of Pleasant township, and presents in open court a petition, signed by a majority of the legal voters of said township, number- ing thirty-one, praying that a new township to be bonded as follows: Pleasant to comprise all of township 93, range 23 west, and the north hali of township 92, range 23 (now a part of lowa). The western division to be called Belmond and comprising township 93, range 24, and the north half of township 92, range 24 (now a part of Clarion )."
In answer to this petition, Judge Calder issued an order of court in agreement therewith and decreed that the township of Belmond be organ- ized and that its township officers be elected at the regular October election in 1860. As first bounded, this township contained fifty-four sections, which, after various changes, was finally reduced to forty, including the four northern tiers of sections in township 92, range 24, besides its own congressional sub-division, and thus made it the largest township within Wright county at that date. The bounds of the township were changed to their present limits by order of the board of county supervisors in 1883. It now comprises simply the regulation township as per congressional sur- vey, township 93, range 24 west.
The first officers included the following: Elias Dumond, William Whited and A. Eller, trustees; George \. Mckay, clerk. The latter soon resigned and Dr. L. Il. Cutler was appointed to fill the vacancy. L. S. Hazen was elected county supervisor and became a member of the first board under the county supervisor system, the county judge rule ceasing on January 1, 1861.
In early days Belmond township was the banner township in the mat- ter of public schools. The first school directors did not meet until 1861, when L. C. Hazen was chosen president, L. H. Cutler, secretary, and Thomas Oliver, treasurer. This township seems to have been divided into four sub- districts, though provisions were only made at that time for two, one hin- dred dollars was appropriated for building purposes in district No. 1, and four hundred dollars to build a school house in district No. 4. One hundred dollars was also levied for contingent fund, and thirty dollars with which (16)
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WRIGHIT COUNTY, IOWA
to purchase wood, and seventy-five dollars for teachers fund in No. 4. which was later changed to No. 2. At least one school house had been erected while this was still a part of Pleasant township. The history of the schools will be found more in detail in the chapter on education.
VILLAGES.
The first village platted within what is now Belmond township was that portion of Belmond lying on the western shore of the Iowa river. It was a forty-acre plat, owned and laid out by Archer Dumond, who at first named it Crown Point, but later, when associated with Doctor Cutler in another plat on the east side of the stream, it was agreed to call both plat- tings Belmond. See history of the town of Belmond for further historical account.
The only other village plat within Belmond township is that of Olaf, in section 7, township 93, range 23 west, platted by William Finch and J. N. Johnson and their wives, November 20, 1902. This village is a station point on the old Iowa Central branch railroad, running from Forest City to the southeast, now the Minneapolis & St. Louis line. The business here in the spring of 1915 consisted of a store, a few small shops and a grain warehouse, etc.
FIRST SETTLEMENT.
The first settlers in Belmond township were the same as first located at the town of Belmond, and are mentioned in detail in the history of that place and of Pleasant township, to which Belmond township then belonged. However, there are some interesting narratives which are not mentioned in the chapter on Pleasant township, hence should find a place here.
The first permanent settlers in Belmond township were A. Dumond, T. Oliver and Dr. J. L. Cutler, all of whom came in the spring of 1855. The year previous, however, there had come in three families who took clainis, but owing to fears entertained as to invasion by Indians from the north- west, they had fled, making way for the coming of men who had the courage to stay by their property and protect their rights as white settlers.
This band of pioneers which arrived in the spring of 1855 set to work and erected a log cabin, in which no less than twenty-one persons lived through the summer of that year. The first frame house built in the town- ship was that of Dr. J. L. Cutler in 1856, in which he opened a store. It appears that when the Doctor came, in 1855, he entered his land and then
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WRIGHT COUNTY, IOWA.
went home, but returned early in the spring, bringing with him his family and six men. In partnership with a Dumond, he then set to work and built a saw-mill, on the east bank of the Iowa. A few months later it was washed away by the floods. During the autumn of 1855 and the spring of 1856, nine families settled in the township, receiving a hearty welcome from those who had preceded them. In the spring of 1857 we again find Doctor Cutler engaged in erecting a steam-mill a little sonth of the site of his first mill, which was washed away. The machinery of the mill was finally moved to Kansas.
INDIAN SCARE OF 1857.
Every present survivor who lived here in 1857 recalls the awful Spirit Lake Indian massacre, of April, that year. The following account of the effect it had on the settlement in this part of Wright county, was graphically written by an old settler in the sixties, not long after its occurrence, and is here presented :
The news of this horrible butchery spread over all the Northwest, filled the settlers with the greatest alarm, and every preparation was made by the few settlers of this township to defend their homes to the last.
In this great extremity, when people were fleeing from their homes to avoid the scalping knife or the tomahawk of the blood-thirsty Indians, the people of Belmond and Pleasant township, and a number of men from the adjoining county of Hancock, assembled at Doctor Cutler's store and or- ganized themselves into a military company, with the Doctor as captain. Upon this organization being effected, the men immediately set to work and erected a mud fort on the west side of the river, on the top of a hill over- looking the now beautiful village of Belmond. A few families left to seek a safer abode, but by far the greater portion remained, and even the wives of the brave men who formed the military company volunteered to remain and share the fate of their husbands, cooking for them in turn and doing everything in their power to assist them as they labored.
For better security, the women were all gathered in one log cabin, while the men remained in the fort and established a regular routine of military discipline. Pickets were established and sentinels posted, who were relieved regularly, and everything began to assume a military attitude. They knew well what kind of an enemy threatened them; they knew they were cunning, crafty, shrewd and treacherous, and they knew also that nothing could move them to be merciful, and, knowing this, they were ever on the alert and always attentive to duty. After waiting several days without
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WRIGHT COUNTY, IOWA.
hearing any word from their brother settlers on the Boone, and fearing they had all perished, they dispatched O. W. McIntosh and Thomas Sheets on a scout to the Boone river to learn how matters stood in that direction, with instruction to return within twenty-four hours. On reaching the Boone, they found all as still and silent as if death had entered every household and taken all their inmates. Moving cautiously, they turned their steps south- ward toward Webster City, and found every settlement deserted. What had become of the people? Where had they fled to? It was evident that the knife of the savage had not been at work here, for not a sign presented itself to lead to this belief, yet not a human face was visible in all that section of the county. They did not return, however, but continued down the river with the hope of finding some living person from whom they might receive information as to what had become of the settlers. On, and still on they went, but found nothing but a deserted country until they reached Webster City, in Hamilton county, where all was excitement and agitation and where the people were busily engaged fitting out an expedition for Spirit lake, the scene of the terrible massacre.
It was here that the scouting party from the mud fort at Belmond received the first information concerning the Boone settlers, for it was to this place they had all repaired on receiving the news of the horrible butch- ery that had been perpetrated on the settlers around Spirit lake. All this time the people at Belmond were in the greatest anxiety, for, from the re- ports that were brought to them by people from the north, they expected the Indians would be shortly upon them, though from what direction or at what time they were unable to say. The non-return of the scouts within the time stipulated in their instructions tended to increase greatly the anxiety that was felt by the whole community. Twenty-four hours passed, and they did not come ; thirty hours, and no sign of them. Thirty-six hours had now passed since they started out, and still they were absent. Surely some- thing must have happened to them or they would have returned. This became the prevailing belief and, upon consultation, it was deemed expe- dient to send out two more men, and thereupon, on the same afternoon, George Dumond and Abe Dukes were dispatched on a similar reconnaissance as the former two.
Darkness had set in long before they reached the Boone, and the same deathlike stillness that the preceding scouts had found still prevailed. Arriving at the Boone, they headed their horses down stream and, night having set in, the greatest precaution marked their every movement. With revolvers in hand and ready for any emergency that might arise, they pur-
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WRIGHT COUNTY, IOW.1.
sued their course down stream in hope of gaining some satisfactory infor- mation concerning what had taken place or what was then going on. No human form, however, was to be found. No human sound greeted their ears. Scarcely knowing what to make of the situation in which they found themselves placed, they concluded to push on down the river as far as Web- ster City. While moving cautiously along, ever on the alert, all at once a sound came to their ears, as something moving through the brush. What could it be? The night was dark and what or who it was they were unable to discover. Being true western men, and possessed of more than common courage, they were bound to ascertain whether the sound that startled them was caused by Indians, man, beast or goblin, and for this purpose, getting their horses well in hand, they charged toward the spot whence the noise came, firing their revolvers as they dashed along. Arriving at the spot, they discovered that whatever it was had fled, when, resting for a moment. the sound of something going across the prairie at great speed attracted their attention. They lost no time in idle meditation, but, striking their rowels into their horses' sides, dashed off at full speed in a regular charge. On sped the pursuers and the pursued, nothing to guide the horsemen but the sound of the hoofbeats ahead of them, till, finally overtaking it, they dis- covered, greatly to their mortification and chagrin, that it was nothing but a poor old cow that had been browsing among the brush, and which, at their approach, had taken to her heels at the report of their revolvers.
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