USA > Iowa > Warren County > The history of Warren County, Iowa, from its Earliest Settlementto 1908 > Part 19
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The history of banking in Warren county is in a general way the history of banking throughout the state. As late as 1882 there were but two banks within our borders with deposits of about two hundred thousand dollars. The popula- tion at that time, and even as early as 1870, was nearly as great as at the present time, but our wealth has been generously multiplied. Twenty-five years ago the man with a bank account was the exception and was generally the man of affairs-the well-to-do man actively engaged in business. We have now twenty banks with two million dollars on deposit. Practically every man, woman and child with even a little money has a deposit account. Their dollars are no longer hid under bushels. The banks of this county have more than five thousand depositing enstomers-at least one-fourth of the population. Many keep accounts with two or more banks.
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KANBCM COUNTY
WARREN COUNTY STATE BANK
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HISTORY OF WARREN COUNTY
During the fifty years from the establishment of the first bank, there has not been a failure in the county ; no depositor has lost a dollar. During the financial stringency of the closing months of 1907, the wise discretion of our people accepting conditions cheerfully, enabled the banks to continue a practical- ly unimpaired service. In the face of the enormous defaleation in the adjoining county the record here is highly complimentary both to the banks and their patrons.
The banks of Warren county average one to each voting precinct. Five are located off the railroad, while three are remote from postoffices. £ There is an apparent effort to emulate the postoffice department in its free delivery system.
EARLY BANKING.
GEORGE W. JONES & CO.
The pioneer bank of the county was established in Indianola in 1858 by George W. Jones & Co. George W. Jones and W. T. Smith comprised the firn. Mr. Jones had for some years previously owned and operated a dry goods store on the south side of the square. Mr. Smith was an Oskaloosa capitalist. The brick building now occupied by Harvey Sisters on the west side, was built for the bank, and was, we understand, one of the first three brick houses in the town and the most valuable building on the square. Dan Poorman was the first cashier, but when J. W. Jones, of Hardin county, later a resident of Indianola, was elected state treasurer, he appointed Mr. Poorman as his deputy (1859), and George B. O'Kell succeeded to the cashiership. Mr. O'Kell remained with the business about eight years, until it was transferred to David Hallam & Son. Ilallam & Son occupied a wooden building on the east side of the square where G. E. Johnson's dry goods store now stands. The sole owners were David ITallam and Thomas W. Hallam. Thomas acted as cashier until after the reorganization and inclusion of this concern with the First National Bank.
SIGLER'S BANK.
On the west side of the square, on the south half of the grounds now covered by Dan G. Peck's hardware store, H. C. Sigler and associates started a bank in 1867. Mr. Sigler was an Osceola man. William Christy was the cashier. It was generally understood that George E. Griffith was in some way interested in the business. He at least was active in the original promotion of the institution. William Christy was later elected state treasurer from Clarke connty. In January, 1871, this bank's identity was absorbed in the Warren County Banking Association.
J. B. MCMURRAY & CO.
In 1869 J. B. McMurray. William Long and Charles MeKay, under the firm name of J. B. McMurray & Co., opened a bank on east Main street on the present site of Swartslander's cafe. Our fellow townsman, Charles MeKay, the only
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HISTORY OF WARREN COUNTY
survivor we believe of either of the three pioneer banks, was cashier until its voluntary dissolution early in 1871. Mr. MeMurray, as elsewhere stated, became cashier of the Warren County Banking Association.
During the continuance of this partnership. Indianola had three banks. After this one closed it was more than ten years before a third one again started.
THE FIRST NATIONAL BANK.
The First National was the first incorporated and the only National bank ever opened in Warren county. Taking over the business of Hallam & Son, it was organized November 15th. 1870. The first directors were David Hallam. Thomas W. Hallam, Daniel II. Van Pelt. W. b. Kircher and Frank M. Van Pelt. David Hallam was the first president : Thomas W. Hallam was the first cashier. The charter was dated April 13th, 1871, and with a capital of $50,000 the insti- tution was launched, or more accurately, relaunched for it may be properly considered as a continuation of the Jones and the Hallam banks. The subsequent presidents and cashiers with the dates of election are as follows: Presidents, II. P. Taylor, June 18. 1871 ; A. R. Henry, October 19. 1874; J. G. Sandy, February 27. 1893: John A. Shuler, January 11. 1898; J. M. Harlan, January 11. 1900. Cashiers, A. S. Moncrief, January 9. 1872; Edd R. MeKce. Jannary 14. 1873; G. A. Worth, Angust 31, 1874; J. F. Samson, July 13. 1898.
The accession of A. R. Henry to the presidency amounted almost to a reorganization. as with him came a number of new stock-holders who purchased the interests of the previous management. Among the new men were, J. G. Sandy, Richard Moore, Elisha Hardin, J. F. Goode, and Alexander Schee.
The present officers are: J. M. Harlan, president ; J. F. Samson, cashier ; and F. H. MeClure, assistant cashier.
Dating from the Jones bank, the First National is now fifty years old and the oldest bank in the county. The value of a good bank to a community in a half century of continuous activity is difficult to. estimate.
THE WARREN COUNTY BANK.
In November, 1870, a partnership for the transaction of banking in Indian- ola, was formed by the following persons : Thomas Thompson. Wesley Cheshire, R. R. Latta, Lewis Todhunter. H. C. Sigler, JJohn Cheshire, J. B. McMurray, George W. Heiney, A. II. Swan. J. II. Whitney and James McGee. Their firm name was The Warren County Banking Association. Jolni Cheshire was presi- dent and J. B. McMurray was cashier. It will be noticed that the above names include the heads of two banks already in operation here. This of course concluded the careers of the other banks. Mr. MeMurray remained in the capacity of cashier for about a year, when Burt A. Smith was elected. Mr. Smith held the position until his death in 1881. and from that time until the incorporation of the bank in 1884. Myron Cheshire stood at the cashier's desk.
January 31st, 1884, the Warren County Bank was incorporated under ont
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IHISTORY OF WARREN COUNTY
state laws with a capital of $60,000. The incorporators were John Cheshire, J. II. Whitney, William Buxton, A. H. Swan, George W. Seevers, B. L. Harding, and W. E. Hazen. John Cheshire continued as president and JJ. HI. Whitney was elected cashier. At this time or shortly afterward, a number of eastern capitalists including Senator Morrill of Vermont acquired stock in this bank. F. H. Cheshire followed Mr. Whitney as cashier for a short time.
February 7th, 1893, William Buxton became president of the bank, and William Buxton, Jr., was chosen as cashier.
In 1905. Judge .John A. Storey purchased an interest in the bank and on October 5th, was elected vice-president. Judge Storey immediately assumed an active part in the management. At this time, William Buxton, Jr. retired and was succeeded as cashier by John II. Derrough. Edd R. Guthrie is assistant cashier.
In 1904 the bank was rechartered as The Warren County State Bank with a capital of $50,000.
THE BANK OF MILO.
Outside of Indianola, Nathan Schee was the pioneer banker of Warren county. Noting that the commercial conditions of the new but thriving little village of Milo required banking accommodations, Mr. Schee drove in from his nursery on the morning of March 6th, 1882, planted a new enterprise in the village, and called it The Bank of Milo. A corner in Frank Ferguson's Irng store was all the room required. John F. Schee was appointed cashier. A year later a partnership was formed by Nathan and John F. and their father. Alexander Schee. The firm name was then Nathan Schee & Co. Still later Samuel Shaw, Lewis Schee and James Schee entered the firm which was then called Schee Bros. & Co. The bank, however, has always been known as the Bank of Milo. A two story brick building, the first of the kind in Milo was built by Nathan Schee in 1887 and became the permanent home of the business.
On April 12th, 1884, the entire assets were sold to the Citizens Bank; but after five and a half years, the old firm reorganized and securing the old loca- tion started up again October 17th, 1889. Alex. Schee had died in the meantime but Mrs. Alice Schee's name appeared instead. To the old firm were added the names of Peter Heller (since deceased). John Wikle and J. II. Adamson. Since the reorganization the officers have been : Nathan Schee, president; John F. Schee, vice president; and J. E. Clayton, cashier.
BANK OF LACONA.
In 1892, the Bank of Lacona commenced business. S. H. Mallory and Frank R. Crocker were the proprietors. A. W. Campbell was the cashier. Ten years later a reorganization resulted in the following partners: Frank R. Crocker, Elias Mills, Samuel Oxenrider, John W. Shnpe, C. T. Murray, J. A. Pogue and H. M. Wilson. Elias Mills was named as president and H. M. Wilson succeeded A. W. Campbell as cashier.
HISTORY OF WARREN COUNTY
Frank R. Crocker died by his own hand October 31st, 1907. The peculiar situation resulting from his death and defaleation necessitated the appointment of a temporary receiver that the Crocker interests could be eliminated and the rights and liabilities of the surviving partners equitably determined. The bank reorganized, and when it reopened for business JJanuary 15th. 1908, it moved smoothly on without the loss of a customer. At no time was there any question as to the solvency of the firm, nor was there any loss of confidence. It is a private bank and its responsibility is therefore limited only by the wealth of its partners.
The bank is now owned by Elias Mills. Samuel, Oxenrider, J. A. Pogue and II. M. Wilson,
The officers are: Elias Mills, president; J. A. Pogue, vice president and II. M. Wilson, cashier.
THE CITIZENS BANK, MILO.
C. M. Condit, Elisha Hardin. J. H. Adamson, Jos. E. Sandy, J. A. Notestine, Henry Sommar, R. B. MeClelland, and Silas Westerfield put up the funds for a new private bank which started in Milo March 21st. 1893. Elisha Hardin lived at Pleasantville and was interested in the banking business there, and at Knoxville and also in the First National Bank at Indianola. The others were local men. The first officers were Elisha Hardin, president; J. II. Adamson, vice president ; and C. M. Condit, cashier. .J. A. Notestine was elected president March 21st, 1894 and has held that position until April 15th, 1908 when he was succeeded by C. S. Fair. The present cashiers with dates of election are as follows : C. M. Condit, March 21st. 1893; Edd R. Guthrie, July 17th, 1900 ; J. R. Lundy, 1901; W. A. Shaw, April 14th, 1902; C. S. Fair, September 3rd, 1903 and F. IL. Starr, April 15th, 1908. J. N. Goode has served as assistant cashier for a number of years J. F. Goode is vice president. The present partners are: J. A. Notestine, G. W. Burgess, E. J. Burgess, J. F. Goode, James Schee Samuel Shaw. F. H. Starr, F. P. Runyan, Jasper Sutton and C. S. Fair.
It will be noticed that several of these partners are also interested in some of the other banks of the county.
The Citizens Bank owns its own building, a handsome structure, the best in the village.
THE INDIANOLA BANKING COMPANY,
On Thanksgiving Day. in 1892. Philip Sinard, W. G. Stanley and John F. Schee planned a new bauk, and on the same day purchased the site whereon was erected the following year a banking house for the Indianola Banking Company. This institution was opened for business April 17th. 1893 in E. W. Perry's store-room on the east side of the square. It was and still is a private bank.
The partners at the beginning were: Philip Sinard. Solomon Reeves. F. M. Roberts, Frank H. Cheshire. E. W. Brown. W. G. Stanley. Saumel Shaw. Lewis Schee, James Sehee and John F. Schee.
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IHISTORY OF WARREN COUNTY
Philip Simard was the first president; W. G. Stanley was cashier at the first and still holds the same position. Frank H. Cheshire acted as cashier at the beginning for a few months until Mr. Stanley's term as county superintend- ent expired.
Samuel Shaw was elected president of the bank August 1st, 1898, and John F. Schee who had been active in the management as vice president since Oc- tober 1st. 1896. succeeded Mr. Shaw Angust Ist. 1900. Lewis Schee as vice president shares in the management of the bank.
The owners of the business at the present time are Nathan Schee, James Sehee, Samnel Shaw, Lewis Schee, W. G. Stanley, and John F. Schee. All of these men are also interested in other banks.
WORTH SAVINGS BANK.
Gorham A. Worth retired from the First National Bank July 13th, 1898, after almost a quarter of a century's service behind the same counter. He had already worked hard enough and long enough to merit honorable acquittal, but he had contracted the banking habit and could not break off. By the fourth of the following January, he had a new bank fixed up in the new building erected for the purpose by W. II. Berry; and on that day opened up Worth Savings Bank, where he is still doing business and entertaining his friends with stories of other days.
This bank was incorporated with a capital of $10,000 which was increased one year later to $15,000 to make room for more business. On April 15th, 1901, it was raised to $20,000.
The stockholders at the beginning were W. II. Berry, G. A. Worth, G. W. Parsons, D. H. Nutting and T. D. Swan. Since that time J. A. Pendry, C. C. Reynolds and Clyde Proudfoot have acquired interests.
There has been no change in the management since the bank started. The president, vice president and cashier respectively have been and still are W. H. Berry, T. D. Swan and G. A. Worth. Clyde D. Proudfoot has recently been elected assistant cashier.
NEW VIRGINIA SAVINGS BANK.
Robert Davidson opened the New Virginia Bank in September, 1892 and was the sole owner for about eight years. Wm. J. Davidson and Freeman C. Davidson bought into the bank in 1900.
In 1905 the private bank was succeeded by the New Virginia Savings Bank. capitalized at $20,000. The incorporators were Robert Davidson, Freeman C. Davidson, Wesley G. Davidson, Hugh Davidson, Richard A. Wickett, Harrison HT. Ogle, Robert Funston and Charles C. Romine. These are all local people and we understand are still all connected with the bank. The management has been with the Davidsons from the beginning. The present officers are Robert Davidson, president ; R. A. Wiekett, vice president; W. J. Davidson. cashier and J. R. Hall, assistant cashier.
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HISTORY OF WARREN COUNTY
CITIZENS SAVINGS BANK OF NEW VIRGINIA.
The Citizens Savings Bank was incorporated early in 1902, with a capital of $10,000. The stockholders were Dennis Lower, Elsie Lower, C .C. Rundall, Wm. Buxton, Boyd Reed, C. E. Reed, D. C. Coltrane, J. S. JJohnson, David Bolyard and W. Keiser.
The first officers were C. C. Rundall, president; Boyd Reed, vice president ; Dennis Lower, cashier; J. 1. Mills followed Mr. Lower as cashier.
The present officers of the bank are Simon Casady, president; JJas. N. Casady, vice president and F. C. Stiffler, cashier.
NORWALK BANK.
The Norwalk Bank is a private bank and belongs to Simon Casady, of the Iowa National and Des Moines Savings Bank, and to JJ. N. Casady who lives in Norwalk and conducts the business of the bank. It was established in 1895 and was the first bank in the northwest quarter of the county.
CUMMING BANK.
The Cumming Bank is a private bank under the same ownership and management as the Norwalk Bank. In none of these sketches is the capital of private banks given for the reason that it is immaterial. The backing or security of banks like these is chiefly outside of the bank's assets. It is suffi- cient to know that this is a Casady bank. The Cunning bank was opened for business in 1900. W. Il. Glynn is the cashier.
SPRING HILL BANK.
This is another Casady bank-same ownership as the Norwalk and Cumming banks. Charles Ash is the cashier. The Bank of Spring Ilill was started by J. R. Lundy and J. I. Farley March 9th, 1904, and was operated in connection or rather in the same building with their stock of merchandise. Mr. Lundy had previously been in the banking business in Milo. Shortly after the business was established, he bought Mr. Farley's interest and conducted the business as sole owner until April 6th, 1908, when he sold to Simon and J. N. Casady. The name was then changed to the Spring Hill Bank.
FARMERS BANK.
Sandyville enjoys the unusual distinction of having two banks and a location five miles from railroad or postoffice. The Farmers Bank was organ- ized in 1902 by B. F. Heiny, C. R. Bassett, E. S. Bassett, E. S. Heiny. I. B. Reins, W. A. Heiny, and N. E. Spurgin. Sandyville then had a postoffice. The service is just as good yet as daily free delivery goes out from Ackworth.
E. S. Heiny, B. F. Heiny, J. M. Spurgin and J. B. Reins are now the partners in the business. J. M. Spurgin is the president and E. S. Heiny is the cashier. B. F. Heiny is the cashier of the Citizens Bank of Pleasantville.
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HISTORY OF WARREN COUNTY
BANK OF SANDYVILLE.
The Ileiny Brothers are bankers. W. A. Ileiny assisted in starting both banks in Sandyville. The Bank of Sandyville was put in motion July 21st, 1904. It is a private bank and was owned at the beginning by W. A. Heiny, Emna B. Heiny, N. E. Spurgin and Ada Heiny-Spurgin. There has been no change in ownership. W. A. Hleiny is president of this bank and N. E. Spurgin is cashier. They own their banking house which was built for the purpose, with as good a vault as can be found in city banks.
THE CITIZENS' BANK, CARLISLE.
The Citizens' Bank at Carlisle, was started by C. HI. Kegley, of Mitchellville, in 1894, and after a year Mr. Kegley sold to H. J. & Geo. C. MeMurtrie. The MeMurtrie Brothers conducted the business until in 1901, at which time Win. Buxton, Jr., and J. M. Harlan purchased the business. J. M. Browne of Indian- ola, at this time went into the bank as cashier, and held that position for about one year. In 1902 William Buxton, the elder, came into the business, and J. M. Harlan retired. The Buxtons owned and operated the bank until January, 1908, when a new deal was made by which a number of local people became partners in the business. The composition of the firm at the present time is: William Buxton, William Buxton, Jr., Mrs. Parthena Watts, Ilenry Switzer, W. C. Fry, W. N. Grant, Edward Grant, George Myers, Bert Sanders, Sarah E. Cooper, Clara B. Nicholson and Alva Corzatt.
Wm. Buxton, Jr., is president. Bert Sanders is cashier, and has been since 1902.
BANK OF PALMYRA.
The Bank of Palmyra was opened January, 1908, and is therefore the youngest bank in the county. Its ownership is identical with the Citizens' Bank of Carlisle. H. J. Switzer is president; W. N. Grant is cashier.
FARMERS' SAVING BANK, LACONA.
The Farmers' Savings Bank of Lacona, was incorporated with a capital of $10,000.00, and opened for business August 3rd, 1907, with enough stock- holders to guarantee a profitable business with themselves. Here is the complete list: George Miller, J. W. Hadley, F. II. Starr, E. J. Burgess, Joe Dittmer, Andrew Dittmer, George Dittmer, E. Schroeder, Leonora Carpenter, F. A. Walk, William Bote, E. S. Bearden, George Thomason, J. W. Thorn, William Carpenter, James Fetters, Win. Shupe, C. L. V. Shupe. Isaac Shupe and Gus Tilden, G. E. Mackinnon, Mary Linnane, A. Wachter and J. W. Carpenter.
The original officers still hold their positions. They are George Miller. president; E. Schroeder, vice-president; Wmn. Carpenter. cashier. Carpenter was the organizer and leading spirit in the enterprise.
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IHISTORY OF WARREN COUNTY
FARMERS' BANK, LIBERTY CENTER.
The Farmers' Bank at Liberty Center, was opened for business September 2nd. 1907. It is a private bank, and its partners at the beginning were: W. E. Lyon, J. II. Sandy, M. E. Young. S. B. McFarland, G. L. Matson, Ralph Kimport. I. C. Taylor, Samnel Shaw, C. S. Fair, E. J. Burgess, F. P. Runyan, Leander Westerfield and George W. Judkins. No changes have occurred either in ownership or management. W. E. Lyon, president; J. II. Sandy, vice-presi- dent and George W. Judkins, cashier.
FARMERS' BANK, HARTFORD.
The year 1907 was a good year for banks. The Farmers' Bank of Hartford, was also started in that year, and is officered by W. G. Talhnan, president; H. S. Fleagle, vice-president, and M. E. Robinson, cashier.
THE FARMERS' SAVINGS BANK, CARLISLE.
Still another bank for 1907, and still another "Farmers" bank. The Farmers' Savings Bank of Carlisle, was incorporated with a capital of $10,000.00, and its first officers were James Watt, president; W. G. Tallman, vice-president, and H. S. Fleagle, cashier. The leading interest and the management of the business have recently passed into the hands of Charles E. Thomas, the present cashier.
JOHN F. SCHEE.
THE WAR OF THE REBELLION.
When Abraham Lincoln was elected president in 1860, the south became sullen and began to assume a war attitude. The people of the north looked upon this as a bluff, and expected the south to become quiet and accept the situation, but in this the north was sadly mistaken. Early in 1861, the southern states, one after another, began passing ordinances of secession. It was not until April 12, 1861, when Fort Sumter, at Charleston, South Carolina, commanded by Major Anderson, U. S. A .. was fired upon by armed rebels, that. the whole country began to realize that a great civil war was imminent, yet. but few if any, realized the magnitude of the situation. The president, himself. thought that the matter was not very serious. He called for seventy-five thou- sand volunteers to suppress the rebellion, but in a little time called For three hundred thousand, and soon after for another three hundred thousand. Then the worst fears began to be verified. the terrible Battle of Shiloh convinced all that the stupendous strife was fully inaugurated. The people of Warren county were pronounced, alnost withont, a single exception, in favor of the maintenance of the Union. In 1860, there were something over ten thousand inhabitants in the county. During the struggle of '61- 65. but little improve- ment was made, yet those ten thousand Furnished more than one thousand
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HISTORY OF WARREN COUNTY
soldiers for the Union army. Warren county responded to each call for volunteers with a readiness and a patriotism that their children may always be proud of. Of these more than one thousand men, some were killed in battle, some died in camp, in prison, and in hospital, and many have died since they were discharged, but a few still live to recount the hardships and horrors of the cruel war of the rebellion. In the following pages an effort has been made to record the name of each soldier who was credited to Warren county. It has cost considerable labor and some money to get the list. There was no reliable list in Warren county. The names had to be copied from the records in Des Moines. The authorities are now preparing a proper military history of each lowa soldier gathered from the records in Washington City and in Des Moines. By an act of the Thirty-second General Assembly, the board is authorized to prepare in proper form for publication, a complete roster of all Iowa soldiers, sailors and marines of the war with Mexico, the War of the Rebellion, and the Spanish-American and Philippine wars, including the military service of soldiers engaged in the Spirit Lake expedition and other service against the Indians, together with the state troops who rendered active service during the war of the rebellion. Section second provides said compilation shall contain the main item of record of each officer and soldier, and of each organization, so far as the same can be obtained from the records in the adjutant-general's office in the war department at Washington, in the official records of the Union armies, and from other official reliable sources. It shall include brief historical sketches of the organization, service and engagements of all Iowa regiments, and other Iowa organizations, with summaries of casualties, list of soldiers confined in Confed- erate prisons, and those buried in national cemeteries. A copy is to be sent to each public library in the state, to each Grand Army post, and a set to each Camp of Spanish War Veterans, free. The remainder are to be sold at actual vost. This will be a valuable contribution to military history, and will doubtless be greatly appreciated. The following list of the men who served in the Civil war, and who gave their place of residence as Warren county, at the time of en- listment, is compiled from the records in the adjutant-general's office. It contains one thousand and forty-one names, doubtless some of these names are duplicated, especially will this be found among those who reenlisted in 1864. Mr. Roy Worth, who copied this list, intended that no name should be repeated. but in some cases may have failed. There are names on the rosters to which no address is appended, therefore, no county gets credit for such. A few who resided in Warren county received their mail at postoffices in other counties. consequently were credited to the county in which they received their mail. All will be glad when the above publication is completed and distributed. No topic in this book has been handled with more care and with deeper interest than the record of the soldiers-the brave and worthy men who stood for the right in the day of the country's extreme peril.
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