Historical encyclopedia of Illinois, Volume II, part 1, Part 66

Author: Bateman, Newton, 1822-1897; Selby, Paul, 1825-1913
Publication date: 1912
Publisher: Chicago, Munsell Pub. Co.
Number of Pages: 864

USA > Illinois > Sangamon County > Historical encyclopedia of Illinois, Volume II, part 1 > Part 66

Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).

In the early records, many imperfections are found-sometimes the results of ignorance, often of carelessness, but always perplexing. Many imperfectly prepared instruments have been reg- istered and made more or less effective iu the introduction upon the record by later painstak- ing examiners, of affidavits and other writings tending to supplement aud corroborate the pur- pose of the possibly well-meaning but faulty grant- or of his agent. The original record as it stands, or as thus subsequently amended, however, is the court of last resort, and the generations which have followed in the main have learned to ac- cept it as conclusive. Too much pains cannot be bestowed upon questions of such moment be- fore the fact. Do not wait to be embarrassed by the occasionai conscientious, painstaking lawyer of the buyer or investor, to point out the errors apparent, as well as the inconsequential lapses in the record, and put you to shame and an end to all negotiations, till every jot and tittle of his justly proper but Imperious demands are met. Much of this trouble conld be avolded by placing such affairs in the hands of reputable men known for their accuracy in such details as well as for their painstaking integrity. The value of public realty records cannot be properly appreciated by any one who has not had to dance attendance upou an insistent attorney, with a long list of carefully defined and elaborately detalled errors shown to exist in his title. The County Recorder does not receive the iustru- ment and pass upon its accuracy. He has met his full obligation to the people when he has filed the same and transcribed upon the public record, provided for such document, a correct copy.

John Bressmer's old corner, opposite his pres- ent pretentious establishment, now the property of Mr. E. D. Keys, will be remembered by many of the older residents of this city.

This coruer, with a frontage on Adams Street of 20 feet by a depth of 107 feet, was purchased by the present owuer February 14, 1907, for a consideration of $60,000, and commands at this writing an advance of at least 25 per cent to 30 per cent, but it is not on the market at any price, in fact, it is estimated by some that it would be a bargain at $90,000. The improve- ments, of course, are of little moment.

In 1827 this lot, with a total frontage of 80 feet on the square and a depth of 157 feet on Sixth Street, was bought (with other lots) for ninety dollars. It is difficult to get at the selling value of such property with an absence of all knowledge of the impovements, but Mr. El- kin sold part of the same property in 1840 for a consideration of $10,000. In that same year he transferred to Mr. S. M. Tinsley, a frontage on Adams Street of 40 feet with a depth of 107 feet for $3,500. This, in turn, changed hands in 1850 for $12,000, James A. Barrett being the purchaser. Charles O. Matheny bought the present site, 20 feet front, in 1856, for $8,000. A half interest was closed out by George H. Matheny to his brother Charles O., November 25, 1889, for the sum of $17,000.

Certain tracts have been chosen in order to demonstrate the persistent growth in values which has characterized Springfield real estate from the beginning of its history. Take for instance, Lot No. Four, Block Two in Old Town Plat, which Included other lots. This lot was sold on September 22, 1825, for $50. In 1831 it was sold again for $40. In 1834 the South half of this lot was sold for $400. In 1836 three- fourths of the South half of lot No. 4 was sold for $575. In 1837 the South half of lot No. 4 was sold for $800.00. In 1842, 54.34 feet of the south part of this lot was sold for $800. In 1844 the same lot was transferred for a con- sideration of $6,700. This same tract last named was sold in 1847 for $450, in 1849 for $700, while in 1903, 29 feet of the same tract was sold for a consideration of $6,000, and today it is worth, without Improvements, at least $20,000.

I am very much pleased to append the follow- ing communication from Mr. B. R. Hieronymus, the genial cashier of the Illinois National Bank. In this connection It might be well to say that

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HISTORY OF SANGAMON COUNTY

Mr. Hieronymus is very muodest in his estimate of the value of the iot on which his bank stands. Instead of being worth $2,000 per front foot, it is certainly worth from $2,500 to $3,000 per front foot, without a stick on it. This prop- erty has advanced phenomenally as the present vaiue proves, and has something of an interest- ing history in the past :

"SPRINOFIELD, Ili., June 21, 1910. "Mr. Edwin A. Wilson, "City,

"Dear Sir :- You ask for my opinion as to the increase in value of real estate in the last twenty years. Briefly, and as good an illustration as could be made perhaps, is here on the corner of Fifth and Washington Streets, the site of the Illinois National Bank. We bought this less than twenty years ago from Col. John Williams at $800 a front foot on Washington, the depth . being 70 feet on Fifth. The value now would be near $2,000 per front foot.

"This, as you probably know, is more than double the real estate values on property simi- iarly located in Quincy, Ill. This illustrates the remarkable advances made in Springfield.

"Yours truly, "B. R. HIERONYMUS."

Some interest attaches to the valuation in connection with the West 20 feet of the east 50 feet of Lot 7 in Block 22, Old Town Plat, 10- cated on the north side of Monroe Street, be- tween Fifth and Sixth. This was bought by Mr. William B. Baker, on July 27, 1903, for a consideration of $18,000, and is worth at this writing, without improvements, at least $40,000.

In referring to the increase of values since 1883, it might be well to note that Mr. Fred D. Buck purchased from the Phoenix Mutual Life Insurance Company, in that year, 2012 feet of ground located just south of the Myers build- ing, on the west side of the square, at a cousid- eration of $15,000, which would bring today, without improvemeuts and without difficulty, $45,000.

Among the most interesting locations is that occupied by the Frauklin Life Building, now the property of the Ridgely National Bank of this City. Many of the older citizeus will rec- oguize the location as having been the site of the old First Methodist Episcopal church. Dr. John Hardtner bought this corner, beiug de- scribed as Lots No. 3 and 4, Block 1 of P. P. Enos' Addition, except the east 20 feet thereof, in 1883, for a consideration of $33,947.50. The Doctor was not altogether satisfied with his trade immediately after it was made, but later,

no doubt, was fully persuaded that he had been characterized by great wisdom aud foresight in this investment. He sold a part of Lot 4, with a frontage on Monroe Street of 63 feet aud run- ning South 97 feet, to the Frauklin Building Company, in 1891, for $25,000. This property, including the improvements, was trausferred on March 3, 1910, to the Ridgely National Bank for the sum of $147,500.

The following letter from Mr. Edward D. Keys, President of the Farmers Nationai Bank, is full of reminiscences, and will be interesting because of the relation that Mr. Keys and his family have borne to this City :

"SPRINGFIELD, III., Juue 28, 1910. "Mr. Edward A. Wilson, "Springfield, Ill.

"My dear Sir :- I have your letter of June 16th requesting me to prepare an article of about one hundred words, giving my impressions of real estate in this county during the past thirty years.

"In reply would say, that my grandfather, Isaac Keyes, Sr., purchased land in this State on March 31, 1818, paying for 160 acres of land the sum of $200, and. held land certificates Nos. 4 and 5, dated 1824, in this county for 247 acres ; afterward he made a number of purchases of farm land in this county. My father, Isaac Keys, Jr., had a number of large real estate transac- tions from 1850 during his business life. My own real estate transactions began about 1875, since which time I have handled considerable property, buying and selling, and retaining some of the more valuable property for permanent use and investment. I am glad to say that I have never purchased any real estate in the city of Springfield or county of Sangamon on which I lost money. The advance in price has not been so rapid as in some new countries but has been sure and steady.

"The values of our desirable business real es- tate have steadily increased and when a good piece of business property is put on the market at public or private sale, there seem to be ready purchasers for same at good prices, on the rev- enue yielding basis of four to four and one half per cent.

"I think our reliable Building Associations in Springfield have done much to make it a city of homes, as they have provided a way by which any industrious man can secure a home for him- self and family. I think the prices at which our residence property sell on our desirable streets are cheap compared with other cities of the size, thus affording good opportunity for retired farmers and other people from different parts of the State to secure homes, buying them at a valne that I think will improve iu the future.

"Our business blocks and store rooms all seem to be well occupied and the merchants keep them in such shape that they present a business like appearance-attractive to the many visitors who

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HISTORY OF SANGAMON COUNTY

come to this city over the various interurbau and railroad lines to trade aud transact business. "Yours very truly,

"EDWARD D. KEYS."

We are pleased also to follow here with a characteristic letter of the Hon. John S. Selinepp, Mayor of this city, being a close observer of conditions, as well as a lawyer of quick and safe perceptions :

"SPRINGFIELD, Ili., July 12, 1910. "Edwin A. Wiison, Esq., "City.

"My dear Mr. Wilson :- In answer to your in- quiry will say that I began the practice of law in Springfield about twenty years ago, and have watched the rise in real estate values closely. It is realiy remarkable how steadily the price of real estate has advanced and continues to ad- vance. To my personai kuowledge I have known of many increases of more that 500 per cent in business property values in less than twenty years, and at the same time, the rents were netting the owner more than 6 per cent per annum on the investment. As time rolis on we are getting more commodious homes and more substantial business hlocks, and I feel safe in predicting a very bright future for Springfield investors. In fact. iu my opinion, there is no better or safer investment on earth than Spring- field real estate.

"JOHN S. SCHNEPP."

Mr. Herman Pierik, President of the Lincoln National Bank, has written the following. We hoped that Mr. Pierik would have had time to have gone into the merits of some of the trans- actions that he has been interested in in real estate of Springfield, but being pressed for time, he was not able to do anything beyond giving a glance of his own impressions of this city and its values during the fast twenty-five wears :

"SPRINGFIELD, Ill., July 25, 1910. "Mr. Edwin A. Wilson, "City.

"Dear Sir :- In reply to yours of recent date, as to muy impressions iu the increase in values of real estate during the last twenty-five years, beg to state that during this time I have been Pres- ident of a Building and Loan Association, and as such officer have acquired quite an intimate knowledge of real estate in our city and vicinity. and also during this time have handled a number of pieces of property which were purchased and sold by me, and also have negotiated a great number of real estate loans; and my observation has been that in nearly all instances, real estate has gradually shown an increase in value from year to year. In many instances it has douhied and even trebled itself in value of twenty-five years ago, and my impression is that our real estate around here will prove to be good invest-

ments to the purchaser for either a home or other purposes, and that the values will probably keep up as they have in the past. "Respectfully,

HERMAN PIERIK."

The affidavit following comes from the late Charles Fisher, who, uo doubt, could recount more interesting incidents relating to men, things aud conditions in this city in the past seventy years, than almost any other who could be named:

"State of Iliinois SS.

"Sangamon County

"Charles Fisher, being duly sworn on oath says as follows :

"I reside at Springfield, Iil., and have lived here since November 13, 1840. I know the build- ing at the southwest corner of Sixth and Adams Streets. It was being put up when I came to Springfield. S. M. Tiusiey was understood to be the owner and the carpenter was a man from Pennsylvania named Martin. The same building stands there now. It is a single store room about 20 feet front ou Adams Street, and is the same building afterwards called the Matheny building and later called the Bressmer building. This was the finest business house in this part of the State at that time as it was said. Ac- cording to my recollection, the Tinsley building was the first three-story building on the south side of the Square. Ahout 1849 the Bunn build- iug was put up at the west end of this block. I worked on that building. It still stands. When the Tiusley Building was first put up the Uuited States Court was held there at the south end of it, and I heard some trials there.

"This property mentioned above now belongs to Edward D. Keys, this City.

CHAS, FISHER."

The following note from Ex-Mayor Robert L. McGuire will he noted with interest :

"Edwin A. Wiison, "Springfield, Ill.

"Dear Sir :- Real estate in the City of Spring- field, that I bought twenty and forty years ago, most of it has doubled in value, and much of it tripled in value; most of that bought ten and twenty years ago has increased in value propor- tionately, aii of it in the meantime paying in rents about six per cent or more on the iuvest- ments. I think this estimate holds good, as to nearly all other real estate in the city, even up to the present date.

"ROBERT L. MCGUIRE."

We are pleased to append herewith the testi- mony of the Hou. James M. Graham, our Mem- ber of Congress from this District. Mr. Graham has had ample opportunity in his long experience as an attorney. with his extensive iaw practice, to equip himself for the discussion of this ques-

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HISTORY OF SANGAMON COUNTY

tion. Incidentally numerous opportunities were furuished him to observe the persistent rise in values of Springfield reaity, and his testimony to this effect bears out the consensus of opinion of those interested and posted iu the city as to advancing values in real property. This en- hancement has not only been persistent but uni- form, as Springfield has not known what is really regarded as a boom in real estate values in its history :

"SPRINGFIELD, Iil., Aug. 10, 1910. "Hon. E. A. Wilson, "Springfield, Ill.

"My dear Mr. Wilson :- In reply to your receut request as to the increase in real estate values during the past twenty years, I would say I could not testify as a witness. I have only a casual and incidental knowledge on the subject, but would, in order to comply with your request someway, submit the following :

"The advancement in the value of Springfield real estate during the past twenty years has been extraordinary, except in a few smail neighbor- hoods. During that period, farm lands in Sang- amon County have increased about four foid. and, speaking generally, I think well located city property has kept pace with farm land.

"If this 'guess' is of any use to you, make what use you can of it.

"Yours very sincerely, "JAMES M. GRAHAM."

Mr. L. H. Coleman, widely kuown for almost half a century in Springfield, Ill., will be re- garded as real authority along the lines of advancing values, and it affords us a great deal of pleasure in furnishing his valuable but brief contribution to the evidence of multiplying values of lands and lots in this county :

"SPRINGFIELD, Ill., June 17, 1910. "Mr. Edwin A. Wilson.

"My dear Sir :- When I came to Spring- field in 1866, iand was selling, within five to seven miles of our city, at from $47.50 to $55 per acre that is now salable at from $175 to $250 per acre. City lots that were then slow of sale at from $75 to $150 and $200 each, are now worth from $1,000 to $2,000 each. Many acres of Iand that were then in corn, wheat and oats, are now divided up into city lots and dedicated to happy homes. If a man buried in 1866, shouid be permitted to visit our city and county now, he would marvel at the wonderful increase in values and wonder what the next forty or fifty years would bring forth.

"Sincerely yours, "L. H. COLEMAN."

In the multiplication of testimony corroborat. ing what has already been said along the lines of realty estimates in this city, a few other con-

tributions as to comparative values might profit- ably be given. Reference is had to the west half of the east half of Lot No. 3 in Block 22, Old Town Plat, now the property of Mr. August W. Klaholt. This property changed hauds in 1900 at a nominal value of $40,000, and would be re- garded today as easily worth $50,000 to $60,000.

In further examination of the records we find that the east half of Lot No. 6 in Block 14 of the original Town Plat of Springfield, was sold for $6,000 in 1897. In 1902 the same property brought the sum of $16,000. This 40 feet, with- out the improvements, in ali probability it would be fair to value today at $25,000.

Twenty and one half feet ou the east side of Fifth Street, near Monroe, was purchased in 1896 for $12,000. Today it is worth $30,000-110 change in improvements.

Twenty feet on the north side of Adams Street in the center of the block between Fourth and Fifth Streets, which changed hands in 1904 for $8,375, would command $20,000 today without any difficulty.

Twenty and one-half feet on the north side of Washington Street, near Sixth, was purchased by the present owner in 1883 for $15,000. It is now worth $45,000 without a material change in the iniprovements.

Twenty feet located in the center of Fifth Street, on what is known as the West side of the square, changed hands in 1881 for the sum of $16,500. It is today worth from $50,000 to $60,- 000, without improvements.

One lot 17 feet, 234 inches, on the north corner of the alley, east side of Fifth Street, between Monroe and Adams, brought $14,000 in 1895. It could be readily disposed of today at a valuation of $30,000, without any material chauge in im- provements.

SANOAMON COUNTY ASSESSMENTS .- The follow- ing is a statement of annual assessments on real estate personal property in Sangamon County, from 1877 to 1910:

1877 $ 745,175.72 1886

542,745.82

1878

592,200.34

1887

549,407.03

1879

388,104.90

1888

555,804.12

1880

349,076.16

1889 522,401.97

1881

466,246.54

1890 576,399.11

1882

512,598.02

1891 595,415.15

1883

582,075.90

1892 598,275.94

1884

567,857.28

1893 622,177.67

1885

584,790.31

189

615,865.90

A. J. TAYLOR

FRANCIS I. TAYLOR

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HISTORY OF SANGAMON COUNTY

1895

658,368.89

1903 935,196.53

1896

699,840.90

1904

981,847.45

1897

691,428.87

1905 1,035,210.80

1898

694,027.74

1906 1,061,809.53

1899 ... .

749,951.11

1907 1,170,915.93

1900

.....

791,163.98

1908

1,248,863.72

1901

.....

841,363.91

1909

1,347,791.95

1902

884,919.42

CHAPTER XXXIX.

COMMERCIAL ASSOCIATION.

VARIOUS BUSINESS ASSOCIATIONS WHICH HAVE EXISTED IN SPRINGFIELD THE SPRINGFIELD BOARD OF TRADE-ITS ORGANIZATION IN 1869, FIRST MEMBERS AND OFFICERS-ITS INFLUENCE IN ESTABLISHING THE SPRINGFIELD WATCH COM- PANY-MERCHANTS' AND SHIPPERS' ASSOCIATION -BEGINNING OF BUSINESS MEN'S ASSOCIATION- NEW MANUFACTURING ENTERPRISES-THE AD MEN'S CLUB-ITS DEVELOPMENT INTO THE CHAMBER OF COMMERCE-CONSOLIDATION OF THE CHAMBER OF COMMERCE AND BUSINESS MEN'S ASSOCIATION-PRESENT OFFICERS OF TIIE SPRING- FIELD COMMERCIAL ASSOCIATION AND ITS OUTLOOK FOR THE FUTURE.

(By Nicholas Roberts.)

Almost every city and village in the United States has today some sort of Commercial Asso- clation, which has for its object the advance- ment of the city's best interests along commer- cial and industrial lines.

The first Association that I am able to find trace of in the history of Springfield is the Spring- field Board of Trade, which was organized July 13, 1869, with the following business men and firms as members :

Melvin & Glidden, Nolte & Waither, Ackerman & Nolte, Ensel & Mayer, First National Bank, John Williams & Co., Springfield Savings Bank, S. Rosenwald, Smith & Brother, J. D. B. Salter, Butler, Lane & Co., J. Thayer & Co., T. S. Little, G. S. Dana, J. M. Fitzgerald, Woods & Henkle, C. A. Gehiman, C. A. Heimie, Staiey &

Troxell, J. Bunu, Thomas Brady, W. B. Miller, Robinson & Bauman, F. George & Son, F. Reisch & Son, J. S. Vredenburgh, Latham & Co., B. F. Fox, B. F. Haynes & Co., DIckerman & Co., James Conkling, Jr., Schuck & Baker, J. B. Fosselman, Van Ness & Ferguson, Herbert Post, II. C. Myers & Son, Wm. Lavely & Son, Geo. W. Schroyer & Co., H. Redlich, H. E. Mueller, M. Myers, J. C. & C. L. Conkling, C. H. Flower.

The officers were as follows: S. H. Meivin, President ; J. S. Vredenburgh, First Vice-Presi- dent ; A. Nolte, Second Vice-President ; F. W. Tracy, Treasurer; W. R. Cowglil, Secretary.

The directors were: A. Mayer, H. Post, W. Lavely, F. Smith, G. N. Black, W. B. Miller,

The following committees were appointed :

Committee on Trade and Commerce .- W. Lavely, H. S. Dickerman, S. Rosenwald, Jacob Bunn, B. H. Ferguson, B. F. Fox, Frank Reisch, Jr.

Committee on Arbitration .- J. S. Vredenburgh, Sr., John Williams, J. D. B. Salter, C. A. Heimle, E. R. Thayer.

Committee on Railroads,-G. N. Black, W. Baker, G. S. Dana, J. C. Henkle, J. W. Lane.

As to the work accomplished by this early Commercial Assoclation, I find the following extract from a report written In 1871:

"The beneficial effects of the Board of Trade have been feit in many ways, but it may be seen in the works of the Springfield Watch Company, which was organized directly through its In- fluence. The establishing aud success of the Alexander Corn Pianter Factory Is largely due to the workings of the Board of Trade also."

In 1876 the following were members of the "Merchants and Shippers Assoclation :" Charies E. Hay, Thayer & Capps, Kimber Brothers, Reisch & Thoma, Springfield Carpet Company, IIenson Robinson, O. F. Stebbins, J. L. Hudson, P. W. Harts, G. S. Connelly & Co., John Bress- mer, J. M. Fitzgerald, Lafayette Smith, J. W. Bunn & Co., S. E. Prather & Co., W. W. Shrader & Co., Frank Simmons, H. W. Rokker, Hall & Herrlek, G. A. Gehrman, James Furlong, G. A. VanDuyn & Co., James McMahon, C. A. Heimle, J. B. Brown, C. D. Roberts, R. C. Steele, B. H. Ferguson, Fred Smith, R. F. Herndon & Co., G. A. Mueller, A. Nebinger, T. C. Smith, Illinois Watch Co., Wlillam Ridgely, J. Thayer & Co.

Honorary members .- Hon. Milton Hay, C. L. Conkling.

Of what these men did I have no record, but

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HISTORY OF SANGAMON COUNTY

the character of the names on the list assures us that they did things for Springfield.

BEGINNING OF THE BUSINESS MEN'S ASSOCIA- TION .- The Retail Grocers' Association was a . advertising. A nomination committee was ap- later organization, banded together for the pro- tection of their own husiuess. In 1892 they At their second meeting on February 28, 1906, the committee ou nominations reported .in favor of Nicholas Roherts for President, Frederick D. Mackie for Vice-President, Latham T. South- er, as Treasurer, and Harry J. E. Knotts, Secretary. eniarged their field of activities and changed their name to the Retail Merchant's Associa- tion, hut as their puhiic spirit cropped out here and there, they took iu men in other vocations and finally developed iu 1903 into the Business Meu's Association. If you wiii go hack over For some mouths meetings were held for the soie purpose of discussing advertising in various forms, hut here, again, as in the Retail Grocers organization, the puhiic spirit of the members began to crop out and it was not long before advertising was ouly a side issue and civic problems hegan to occupy the attention of the members. At the end of the first year the cluh had two hundred members and on March 18, 1907, they re-elected the same officers as in the preceding year, with the addition of R. E. Woodmansee as Financial Secretary. the lists of members aud officers of the Business Meu's Association, you will find that the very hest citizens of Springfield were and always have heen associated with it. You will find the names of men who were not only successful themselves hut were successful in obtaining things for Springfield. The Business Men's As- sociation has an honorahle record, hoth as an Association and, through the efforts of its in- dividual members, it has heen a powerfui factor in the city's development.

The Desnoyers' Shoe Company, with its five hundred employes, was hrought here hy them. The William Fetzer Company, the United Zinc and Chemical Company, which has recently douhled its capacity, was brought here in the beginning through the Business Men's Associa- tion, and was aided hy them in increasing its capacity. Just a few months ago the H. M. Lourie Company was hrought here hy the Busi- ness Men's Association from Iowa, and is already preparing pians to double its plant.

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Historical encyclopedia of Illinois, Volume II, part 1, Part 66

Author: Bateman, Newton, 1822-1897; Selby, Paul, 1825-1913 Publication date: 1912 Publisher: Chicago, Munsell Pub. Co. Number of Pages: 864

Author: Bateman, Newton, 1822-1897; Selby, Paul, 1825-1913
Publication date: 1912
Publisher: Chicago, Munsell Pub. Co.
Number of Pages: 864