USA > Illinois > Montgomery County > Historical encyclopedia of Illinois and history of Montgomery County, Volume II > Part 22
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In Litchfield John W. Haggart organized a private bank in 1860, but not having sufficient capital and not receiving a paying support, the bank was rather short lived, and surrendered its right to do business. Nathan Kenyon then, about 1870, chartered another private bank in Litchfield, but this did not succeed in the manner in which it was organized and after a brief existence, it was bought by Beech Davis & Co. and under that name they did business for a number of years. In 1902 Beech Davis & Co. bought out the bank and after some other changes it finally became the M. M. Martin & Co. Bank with Mr. Martin as president and Charles E. Morgan as cashier. Later, after the death of Mr. Martin, the owner- ship of the stock was changed materially and the name became The Litchfield Bank and Trust Co., under which it is successfully doing business today. Mr. Morgan continues as cash- ier and the present president is Frank R. Miller.
The Hillsboro National Bank, one of the strongest in the county, was organized by Mr. Ramsey, who has remained its president during its entire career. Luther Bect was the first cashier, but he resigned to accept a better place in the west. E. J. Miller succeeded him, and he too resigned as better positions were offered him in the west and George Fisher became the cashier and is still in this office.
Statements of the various banks in the county will now be given. The changes and experiences of the earlier banks indicate in a measure the difficulties that the pioneer bankers had to undergo in laying the foundations for our pres- ent splendid banks. The failures were only lessons leading to more safety and security that is the characteristic of our strong banking insti- tutions of today.
THE FIRST NATIONAL BANK OF LITCHFIELD.
The First National Bank of Litchfield was established in 1860, incorporated in 1888, and is one of the federal reserve banks of the county.
Report of the condition of the bank at the close of business October 13, 1916, is as follows :
Resources.
Loans and discounts. $441,162.96
U. S. Bonds (at par) 89,000.00
Stock in federal reserve bank. 2,850.00
Bonds, securities, etc. . 72,144.10
Banking house, furniture and fixtures 15,000.00
Cash, due from banks and United States treasurer 192,457.42
Total $812,614.48
Liabilities.
Capital stock paid in. $ 75,000.00
Surplus and undivided profits. 24,011.93
National bank notes. 75,000.00
Deposits 638,602.55
Total $812,614.48
This bank, including its line of predecessors, is the oldest bank in the county, and claims to be the strongest. Its management says: "It_ has been able to care for its customers through hard times and panics for the past fifty-six years, making loans and paying depositors 100 cents on the dollar." Its present officers are : Eli Miller, president ; J. R. Miller, cashier ; and G. A. Sihler, vice president.
HILLSBORO NATIONAL BANK.
The following is the financial condition of the Hillsboro National Bank according to its last statement :
Resources.
Loans and discounts. $437,467.86
U. S. Bonds (at par) 89,000.00
Stock in federal reserve bank 2,850.00
Bonds, securities, etc. S8,711.60
Banking house, furniture and fixtures 15,000.00
Cash, due from banks and United
States treasurer 237,774.68
Total
$870,804.14
735
HISTORY OF MONTGOMERY COUNTY
Liabilities.
Capital stock paid in. $ 75,000.00
Surplus and profits (net) 24,937.44
National bank notes. 73,500.00
Deposits
697,366.70
Tota $870,804.14
Its present officers are as follows: Charles A. Ramsey, president ; Guy C. Lane, vice presi- dent ; George H. Fisher, cashier ; Henry L. Cox, assistant cashier ; and William Abbot, Jacob J. Frey, George N. Allen, Rice Miller, W. A. White. Charles W. Bliss, E. M. Stubblefield, members of its board of directors.
LITCHFIELD BANKING, AND TRUST COMPANY.
The following is the present financial condi- tion of the Litchfield Banking and Trust Com- pany :
Capital stock paid in. $100,000.00
Surplus fund 10,000.00
Undivided profits 2.538.92
Dividends unpaid and reserves. 5,000.00
Deposits 377,894.86
$495,433.78
The officers are as follows. Frank R. Millner, president ; Dr. R. F. Bennett, vice president ; G. L. Settlemire, second vice president ; Charles E. Morgan, cashier; Leo. C. Schalk, assistant cashier ; and Frank R. Millner, Dr. R. F. Ben- nett. G. L. Settlemire, Charles E. Morgan, E. S. Hood, A. R. Stansifer. D. R. Kinder, Dr. J. F. Blackwelder and James P. Brown, directors.
MONTGOMERY COUNTY LOAN AND TRUST COMPANY.
The following is the financial condition of the Montgomery County Loan & Trust Company, ac- cording to its last statement :
Resources.
Loans $262,074.26
Investments 29,200.00
Banking house, furniture, etc. 14,000.00
Due from Banks 97,355.93
Other assets 14,961.30
Total
$417,591.49
Liabilities.
Capital paid in $ 50,000.00
Surplus fund 17,000.00
S
Deposits
349,740.23
Other liabilities 851.22
Total $417,591.49
The present officers are: Joel E. McDavid, president ; James E. Barringer, cashier ; and Frank McDavid, assistant cashier.
LITCHFIELD NATIONAL BANK.
The following is the financial condition of the Litchfield National Bank, according to its last statement :
Resources.
Loans and discounts. $180,172.57
U. S. bonds
50,000.00
Bonds and other securities. 20,645.00
All other assets 67,562.44
Total $318,380.01
Liabilities.
Capital paid in $ 50,000.00
Surplus fund 10,000.00
Circulation 50,000.00
Deposits
166,362.22
All other liabilities.
42,017.79
Total $318,380.01
The following are the present officers: M. Morrison, president ; H. B. Herrick, cashier ; and C. A. Tolle and Edson Pound, directors.
PEOPLES NATIONAL BANK OF HILLSBORO.
The following is the financial condition of the Peoples National Bank of Hillsboro, according to the last statement issued by it :
Resources.
Loans and discounts. $150,741.27
U. S. Bonds. 50,000.00
Bonds and other securities 17,358.89
All other resources. 61,241.51
Total $280,241.67
Liabilities.
Capital stock paid in. $ 60,000.06
Surplus fund 6,050.00
Circulation 50,000.00
Deposits 160.180.08
All other liabilities. 4,011.59
Total $280,241.67
736
HISTORY OF MONTGOMERY COUNTY
The present officials are as follows: Dr. Ed- ward Douglas, president; Dan F. Brown, cash- ier ; Frank McLean, assistant cashier; and Edward Douglas, J. M. Baker, C. W. Grassell, M. J. McMurray, R. J. Grantham, directors.
FARMERS NATIONAL BANK OF NOKOMIS.
The following is a statement of the condition of the Farmers National Bank of Nokomis on July 1, 1916 :
Resources.
Loans and discounts .. $242,393.98
United States and other bonds. 91,000.00
Redemption fund with United States treasurer 3,750.00
Banking house, real estate and fix-
tures
21,000.00
Cash and due from banks. 49,367.22
Expense and taxes paid. 448.05
Total
$407,959.25
Liabilities.
Capital stock paid in .. $ 75,000.00
Surplus and undivided profits. 25,657.30
Circulation 75,000.00
Deposits
232,301.95
Total $407,959.25
The following are the present officials : Alfred Griffin, president ; August Weber, vice presi- dent; J. W. Scott, vice president; J. W. Shoe- maker, cashier; and Alfred Griffin, August Weber, J. W. Scott, J. K. McDavid, J. H. Crick- enberger, Fred C. Best, Edward T. McDavid, J. S. Griffin, Fred Law, directors.
NOKOMIS NATIONAL BANK.
The Nokomis National Bank was established in 1872. Its financial condition is as follows : Capital stock $100,000.00
Surplus and profits. 25,273.70
Circulation 100,000.00
358.713.29 Deposits
Re-discounts in federal reserve bank. 32,000.00
$615,986.99
The present cashier is W. F. Bald.
FIRST NATIONAL BANK OF RAYMOND.
The financial condition of the First National Bank of Raymond is as follows :
Resources.
Loans and discounts. $221,901.82
Bonds, stocks, etc. 26,500.00
Furniture and fixtures. 7,500.00
Redemption fund 1,245.00
Cash and sight exchange
109,260.77
Total $366,407.59
Liabilities.
Capital stock 25,000.00
Surplus 25,000.00
Undivided profits
25,253.08
Circulation 24,995.00
Deposits
266,159.51
Tota
$366,407.59
The present officials are: Cyrus Fitzjerrell, president ; John H. Miller, vice president ; J. E. McDavid, cashier; C. McNaughton, assistant cashier; and Edward Grimes, Thomas Doyle, Cyrus Fitzjerrell, H. H. Hitchings, C. McNaugh- ton, John H. Miller and J. E. McDavid, direct- o1ºS.
RAYMOND STATE BANK.
The Raymond Farmers & Merchants Bank was organized a few years ago and after several years of only fair business, in 1916, with the addition of some strong men on its working force, it was reorganized as a state bank July 3, 1916. The capital stock is $25,000, and the surplus is $5,000. The following are the present officers : W. L. Seymour, president ; J. H. Cass, vice president ; Abraham McNeill, cashier; C. T. Scherer, assistant cashier, and Fred Mond- hink, Dr. J. R. Kenton, J. H. Cass, George J. Back, W. L. Seymour, Charles Weber, and Robert Schelp, directors.
FILLMORE BANK.
When the Fillmore Bank was first organized in July, 1890, it was called the Bliss & Allen Bank and the firm consisted of Alfred Bliss and Lyman Allen. After the death of Mr. Bliss in 1902 the name was changed to the Fillmore Bank, with Lyman C. Allen as president ; N. B. Allen, son of L. C. Allen, as vice president ; and Frank Herrin, son-in-law of L. C. Allen, as cashier. The financial responsibility of the owners is well known. Their collective financial worth, above all exemptions, is over $150,000, every dollar of
Henry, 'the Hitchings and wife
737
HISTORY OF MONTGOMERY COUNTY
which is liable to the depositors and creditors of their bank. In this regard the liability of the partners in a private company is much greater than that of the stockholders in a cor- poration, for the stockliolders are liable only to the extent of their stock and their private for- tunes cannot be taken in payment of corporate indebtedness.
Patrons of a bank first want to be assured of careful, competent management, because the safety of any bank's funds depends upon the actual value of its loans and investments. The funds of the Fillmore Bank are loaned on good real estate mortgages and first-class personal security. The president, L. C. Allen, has lived in or near Fillmore for over fifty years, and the vice president and cashier were both born and reared in Fillmore and are, of course, both familiar with land values in that part of the county as well as with the individual responsi- bility of the residents there. The care they exercise in making loans or other investments is proverbial. They have never risked the bank's money in uncertain or questionable in- vestments in the hope of making big profits, but have always pursued a conservative course, being satisfied with small profits from invest- ments that are. absolutely safe. The Bank of Fillmore was established more from patriotic than from personal motives and contrary to the advice of experienced bankers who said it could not be made to pay, but Mr. Allen felt that a bank at Fillmore was a business necessity in order to further the prosperity and development of the community. For several years the insti- tution barely paid its running expenses. In the meantime it accomplished much good, helped to establish habits of thrift among the people in and around Fillmore, assisted with its advice, loaned the funds which made possible the start- ing of private enterprises which have made Fill- more the growing town that it now is.
FILLMORE STATE AND SAVINGS BANK.
The following is a statement of the present financial condition of the Fillmore State and Savings Bank :
Resources.
Loans and discounts. $51,590.40
Banking house, furniture, etc. 6,920.76
Due from banks. 6,121.31
Currency, checks and overdrafts. 3,SOS.37
Total
.$68,440.84
Liabilities.
Capital stock paid in $25,000.00
Undivided profits 430.69
Deposits 43,010.15
Total $68,440.84
John Q. Bost is the present cashier.
FARMERSVILLE BANK.
The Farmersville Bank of John Ball and Com- pany was organized as a private institution and opened for business on May 26, 1892. The organ- izers and first stockholders were as follows: Charles G. Brown, Divernon, Ill .; William Humphrey, Virden, Ill .; J. Otis Humphrey, Springfield, Ill. ; John Ball, Farmersville, Ill.
The capital stock of the same was $25,000.00. The officers of the same were : John Ball, presi- dent, and C. H. Ball, cashier. John Ball re- mained as president until his death in April, 1914. The present officers are: E. W. Ball, cashier, and Lee M. Paul, assistant cashier.
The present capital stock is $25,000.00 and the deposits are $175,000.00, with an individual re- sponsibility of over $400,000.00. The present stockholders are: Judge J. Otis Humphrey, Springfield, Ill .; Mrs. John Ball, Farmersville, Ill. ; Clarence H. Ball, Farmersville, Ill. ; Elbert W. Ball, Farmersville, Ill.
COFFEEN NATIONAL BANK.
The present financial condition of the Coffeen National Bank is as follows :
Resources.
Loans and discounts. $ 58,265.19
U. S. bonds. 25.000.00
Bonds and other securities 8,975.25
Banking house and furniture, etc. 3,000.00
All other securities 31,143.26
Total
$119,131.81
Liabilities.
Capital stock paid in. 25,000.00
Circulation 25,000.00
Deposits
63,SS4.10
Bills payable
5,000.00
Undivided profits
247.71
Total $119,131.81
The present officials are: L. F. Wilderman, cashier ; W. T. Edwards, Emory Wright and J. W. Edwards, directors.
-
738
HISTORY OF MONTGOMERY COUNTY
AMERICAN EXCHANGE BANK OF COFFEEN.
This is a good little private bank, the sole property of A. Studebaker, who is president and cashier. It was opened for business January 15, 1900, and has had a successful career. Its financial condition is as follows :
Capital $ 5,000
Surplus 1,600
Deposits 12,000
Mr. Studebaker claims the bank has no debts or obligations except to its depositors.
WITT NATIONAL BANK.
The following is a statement of the financial condition of the Witt National Bank :
Resources.
Loans and discounts. $ 75,121.75
U. S. Bonds. 32,500.00
Bonds, securities 1,000.00
Furniture and fixtures. 13,830.91
Due trom banks and United States
treasurer 13,293.05
Totals $135,745.71
Liabilities.
Capital stock paid in .. $ 50,000.00
Surplus and undivided profits 7,024.72
Circulation 32,500.00
Deposits 42,720.99
Bills payable
3,500.00
Totals .$135,745.71
The present officers are: H. F. Fesser, presi- dent ; F. W. Pfertner, vice president; C. II. Rol- ston, cashier; J. M. Lounsbury, assistant cash- ier ; and H. F. Fesser, F. W. Pfertner, W. F. Brice, Edward Bottomly, H. S. Butler, Wm. Lounsbury, Joseph Mitchell, C. H. Poland and C. P. Zimmer, directors.
OLAND NATIONAL BANK.
The following is a statement of the financial condition of The Oland National Bank :
Resources.
Loans and discounts. $176,781.36
Surplus
6,000.00
U. S. bonds
50,000.00
Undivided profits
1,289.44
Bonds, securities, etc.
43,900.00
Furniture and fixtures
8,000.00
Cash due banks and United States
treasurer
43,589.68
Total
$322,271.04
Liabilities.
Capital stock paid in. $ 50,000.00
Surplus and undivided profits 15,303.95
Circulation 49,200.00
Deposits
207,767.09
Total
$322,271.04
The present officers are : Robert Dixon, presi- dent; Chas. H. Lockhart, vice president; H. F. Iloehn, cashier ; R. M. Short, assistant cashier ; and Robert Dixon, C. H. Lockhart, Jesse W. Osborn, Fred Mitchell, H. F. Hoehn, J. E. Hitt, and Luke C. Weber, directors.
BANK OF WAGGONER.
The Bank of Waggoner was organized Sep- tember 2, 1895. The present officers are: J. M. Waggoner, president ; George Fooks, vice presi- dent ; L. P. Brubaker, cashier. The stockholders are: L. P. Brubaker, J. M. Waggoner, George Fooks and H. C. Burnet. The responsibility of the stockholders is $250,000.00.
IRVING NATIONAL BANK.
The following is a condensed report of con- dition at the close of business of the Irving National Bank, October 19, 1916 :
Resources.
Loans and discounts $ 90,169.01
Banking house
4,500.00
Furniture and Fixtures. 2,503.34
U. S. Bonds. 20,000.00
Due from banks
14,308.83
Redemption fund
1,000.00
Bonds
1,548.25
Stock federal reserve bank. 950.00
Cash
6,404.36
Total
$141,383.79
Liabilities.
Capital stock $ 25,000.00
Deposits
S6,094.35
739
HISTORY OF MONTGOMERY COUNTY
Circulation 20,000.00
Money borrowed 3,000.00
Total
$141,383.79
The present officers are as follows : James M. Kelly, president ; R. L. Kelly, vice president ; W. Milton Berry, cashier; and C. L. Neisler, assist- ant cashier.
.
FARMERS BANK OF OHLMAN.
Ohlman, in the northeast part of Audubon Township, is a thrifty little village on the line of the Big Four Railroad. Its large business in grain shipments, together with stock and other interests, made a bank an imperative necessity. Hence an institution known as the Farmers' Bank was organized and now enjoys a nice little business. Its capital is $12,500. Its pres- ent surplus is $2,357 and its deposits are $97,382. Its officers are H. D. Gossmann, president ; John Pieper, first vice president; Henry F. Schmidt, second vice president ; and H. A. Husman, cash- ier. Its board of directors is composed of H. D. Gossmann, John Pieper, Henry F. Schmidt, J. C. Dahler, Henry Zimmermann, Andrew Ziefang, L. A. Scrieber and H. A. Husman.
STATE BANK OF DONNELLSON.
The State Bank of Donnellson was organized as a private bank July 16, 1903, by C. C. Mans- field. It was reorganized as a state bank May 20, 1913, with $30,000.00 capital. Its present financial condition is as follows :
Resources.
Loans and discounts. $ 80,000.00 Banking house, bonds, cash and. 20,000.00
Total $100,000.00
Liabilities.
Capital stock
$ 30,000.00
Deposits and other liabilities 70,000.00
Total $100,000.00
The present officers are: W. A. Allen, presi- dent ; Charles L. Laws, vice president; C. C. Mansfield, cashier; T. S. Mansfield, assistant cashier : and W. D. Boone, C. L. Laws, John H. Shutt, W. A. Allen, C. C. Mansfield, as members of the board of directors.
BANK OF PANAMA.
The Bank of Panama was founded in 1907 by Frank A. Blair and Company, of Chicago, with a capital of $5,000.00. In October, 1914, the present owners purchased the bank and it now is managed and owned by the following officers : W. W. Mitchell, president ; S. E. Cress, vice president ; E. A. Murray, cashier ; H. Hock- stra, assistant cashier; and Dr. T. O. Wilcox, E. F. Grabrick, E. A. Murray, directors. These parties constitute the Panama Holding Com- pany.
HILLSBORO BUILDING AND IMPROVEMENT ASSOCIATION.
The Hillsboro Building and Improvement As- sociation was incorporated in May, 1887, and has been successfully operated now for about twenty-eight years and though it has sustained some reverses, its supporters have loyally stayed by it, and today it is considered one of the strong financial institutions of the county. Its officers are: J. M. Baker, secretary ; Amos Mil- ler, attorney ; George Fisher, treasurer; and J. M. Baker, C. A. Ramsey, C. W. Grassell, C. W. Bliss, Carl Weber, Bliss White, C. C. Baxter, T. M. Jett, Amos Miller, directors. Its June 30, 1916, statement showed :
Assets.
Loans
$274,900.00
Real estate 4,931.87
Cash 22,720.61
Other items
10,227.38
Total $312,779.86
Liabilities.
Installments paid and due. $236,800.50
Contingent fund 19,000.00
Profits 56,789.39
Other items 189.97
Total $312.779.86
Receipts and disbursements for the past year, - $160,143.63.
LITCHFIELD COOPERATIVE SAVINGS AND LOAN
COMPANY.
The Litchfield Cooperative Savings and Loan Company was organized in 1889, its charter
740
HISTORY OF MONTGOMERY COUNTY
taking effect January 1, 1890. It is a splendid company and has done much for the business interests and growth of the city. Its last semi- annual statement shows assets to the amount of $140,150 and liabilities to the same amount, which includes over $20,000 of surplus and profits. During the last fiscal year its receipts amounted to over $66,000. It declares its object to be "the building and improving of homesteads and the accumulation of funds to loan among its members only." The officers and directors are: M. M. Milnor, president ; H. A. Snell, vice president ; A. R. Stansiter, secretary, Charles E. Morgan, treasurer ; and M. M. Milnor, HI. A. Snell, J. C. Strehle, A. R. Stansifer, M. Mor- rison, Charles E. Morgan, H. W. Bartling, Walter Holderead, and E. E. Burson, directors.
OIL CITY BUILDING AND LOAN ASSOCIATION.
The Oil City Building and Loan Association of Litchfield was organized in April, 1883, and has an authorized capital of $250,000. Its assets in October, 1916, were $60,000. This asso- ciation has matured forty-one series. The present officers are : H. W. Bartling, president ; E. O. Eichelroth, vice president; S. M. Grubbs, treasurer ; Mrs. Louretta Salzmann, secretary ; and the above officials and Eli Miller, Irving Yeager, C. W. Graften, Hugh Hall, C. A. Tolle and John W. Rea form the board of directors.
LITCHFIELD ABSTRACT COMPANY.
The Litchfield Abstract Company was organ- ized a few years ago, with the view of making abstracts for the Litchfield public and to save to themselves on the cost of making. The company has a paid up capital of $2,000 which is invested in real estate mortgages, and also maintains an office in IHillsboro so as to have access to the county records. Fred E. Thompson is the man- ager of the Hillsboro office and is the company's abstractor. An office is maintained in Litchfield in connection with the business of A. R. Stan- sifer. The officers and directors are: L. F. Wood, president ; W. H. Groner, vice president ; A. R. Stansifer, secretary-treasurer; Fred E. Thompson, examiner of titles; and L. F. Wood, W. H. Groner, A. R. Stansifer, Eli Miller, Charles E. Morgan, H. B. Herrick and Fred E. Thompson, directors.
SOUTHERN ILLINOIS LIGHT & POWER COMPANY.
The Hillsboro Electric Light & Power Co. was incorporated in 1892 with a capital stock
of $10,000. Its first board of directors was com- posed of the following: William Wurdack, W. A. Howett, and J. J. Frey. Later C. A. Ramsey became a director.
In 1900 the first transmission line was built from Hillsboro to Raymond and the Raymond plant purchased. Later the company was in- corporated under the name of the Southern Illi- nois Light & Power Co., with $100,000.00 capital stock and in 1916 the capital of this company was increased to $1,000,000.00 and a subsiduary company developed under the name of the Saline Electric Co., with a capital stock of $1,100,000.00 with the same board of directors and the same officers. They now control fifty-one towns, sixty-nine utilities, and have a gross invest- ment of $3.430,631.11.
The officers of the company are: J. J. Frey, president ; W. A. White, vice president; M. J. Musser, secretary; C. A. Ramsey, treasurer ; and C. A. Ramsey, Hillsboro, Ill .; W. A. White, Ilillsboro, Ill .; F. H. Brown, Hillsboro, Ill .; R. R. Hammond, Chicago, Ill .; J. E. Hitt, Chicago, Ill .; A. W. Bullard, Chicago, Ill .; G. C. Lane, Hillsboro, Ill., as members of the board of directors, and Mr. Lane is the attorney for the company.
J. J. FREY BOND AND MORTGAGE COMPANY.
The J. J. Frey Bond and Mortgage Company was started in March, 1890, by J. J. Frey as a real estate, loan and insurance business, and in 1891 Charles H. Rolston was taken in as part- ner. The abstract books of Amos Sawyer were purchased and the firm was then known as Frey & Rolston. In 1893 Charles H. Rolston sold his interest to J. J. Frey and Mr. Rolston was em- ployed in the office. In 1895 the business was conducted under the name of J. J. Frey and a general real estate, loan and abstract business was carried on. In 1900 the abstract books were sold to H. R. Crawford and in 1905 H. M. Beckwith came into the office and the firm was then known as J. J. Frey & Co.
In 1915 the St. Louis office was established and the company was incorporated with a cap- ital of $160,000.00 under the name of J. J. Frey Bond and Mortgage Company, which concern is doing business under that name at the present time. The company has been active and has taken a deep interest in any work pertaining to the progress, development and betterment of Hillsboro and its community. In the last twenty-five years it has never lost any money
D. F. Hodges
H. V. Hodges
741
HISTORY OF MONTGOMERY COUNTY
for any of its patrons or customers. Some of the things that were features of J. J. Frey & Co. was its activity in the paving of the streets, laying out sewer districts in the city of Hills- boro and laying out active additions, such as Fairmont Place, Prairie Heights, Schram City, Taylor Springs, and its assisting in the incor- porating of the Hillsboro Brick & Tile Co., Mont- gomery County Telephone Co., Hillsboro Electric Light Co. and Kortkamp Coal Co.
NOKOMIS BUILDING AND LOAN ASSOCIATION.
The Nokomis Building and Loan Association, one of the strongest of its kind in the middle west, was organized in May, 1SS1, by David H. Zepp, Fred O. Paddock, John Marsland, Henry N. Randle and John E. Atchinson. Its first directors were: Smith Denman and John E. Atchinson for one year, David H. Zepp and Luther M. Hartsoch for two years, and George Sippell and Fred O. Paddock for three years. David H. Zepp was its first president, the other first officials being : Smith Denman, vice presi- dent ; John Day, treasurer ; and Fred O. Pad- dock, secretary. One outstanding feature is that the association has never had but two presi- dents, David H. Zepp, its first one, serving till his death in 1906, since which time Alfred Griffin has been president. It has had three secretaries, Fred O. and John H. Paddock acted secretary from 1881 till 1896, at which time Nathan B. Brophy took up the duties of the office and still fills the position. J. W. Wild is vice president at the present time, and W. F. Bald is the treasurer. The directors are: August Weber, J. D. Wilson, C. H. Kempton, J. W. Wild, Alfred Griffin, H. J. Bender and Nathan J. Brophy.
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