USA > Illinois > Vermilion County > History of Vermilion County, Illinois : a tale of its evolution, settlement and progress for nearly a century, Volume I > Part 38
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These traders came on their own account long before the American Fur Company saw the wealth in fur along the waters of the Little Vermilion. At least it is reasonable to assume such to be the case. And it is a matter of record that the American Fur Company whose headquarters were at Macanaw, had agents in this region as early as the first years of the last quarter of the 18th century, and probably at an earlier date than that. True, there were no storehouses in the territory now Vermilion County, but a white man's instinct to get that which was of value to his red-skinned brother, would show him a way to keep the skins of the desired animal when he found them as abundant as they were in this locality. The timber along the Vermilion was productive of a variety of fur-bearing animals, even after the coming of the first settlers, and the hunters through the wilderness of eastern Illinois and western Indiana finding this wealth, if not exactly trading themselves, directed the disposition of the furs to the nearest or most accessible trading post.
The American Fur Company early established a trade through the Illinois country with stations or posts in the eastern part along the Iroquois, the Em- barass and the Little Wabash. Their agents made a business of following the Indians in their hunting grounds, and in this way learned their habits, and their
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characteristics while they secured their trade. Gurdon S. Hubbard was agent for the American Fur Company, succeeding Antonin Des Champs in this ter- ritory in 1824. Antonin Des Champs had had charge of the interests of the company in the trade of the company for about forty years in the territory between the Illinois and Wabash rivers. This takes the record of trade in this section back to about 1785, or thirty-five years before the coming of the white settler to the location of Vermilion County. Des Champs was in charge of the territory until five years after small settlements had been made at the salt works, at Brook's Point, at Butler's Point and along the Little Vermilion.
When Mr. Hubbard took charge of this territory, he abandoned the posts on the Illinois, and no longer carried the trade by water, but introduced pack- horses. The trail from Chicago to the salt works which he established was called Hubbard "Trace," and was followed for many years as the most direct road from Chicago to Vincennes, Indiana. This Hubbard Trace was the foundation of one of the most direct railroads in the state connecting Chicago and the Ohio river.
In 1827 Gurdon S. Hubbard abandoned the posts on the Embarass and Little Wabash, and put up the first frame building ever constructed in Ver- milion County for a storehouse, which became the headquarters for the Indian fur trade in this part of the country. This trade was extensive and demanded the employment of several clerks. He brought three Frenchmen with him, two of whom married daughters of prominent early settlers. These men were Noel Vassar, Nicholas Boilvin and Toussaint Bleau. Nicholas Boilvin married a daughter of D. Woods, and Toussaint Bleau married a daughter of Dr. A. R. Palmer. Samuel Russell and William Bandy were both clerks at this trading house.
During the five years this trading house was in operation, the Indians would file into town on their ponies in large numbers with their furs, which they exchanged for white flour, meat and other luxuries, as well as the trinkets they loved so well. They brought their squaws and papooses with them, and would camp on the bluff near the foot of Walnut street or a little further east on the same bluff, where they would feast and enjoy themselves for several days before again taking up their march whence they came.
In 1832 Mr. Hubbard found that the Indian trade had declined to such pro- portions that it would be advisable to convert his stock into one that would hetter suit the increased white population. The fur-bearing animals had be- come scarce, and the Indian himself had been dispersed to such an extent, al- though it was not until six years later that the Pottawotomies were officially moved to beyond the Missisippi river. Hubbard had N. D. Palmer as his part- ner in his store, and the prospect for trade was good. He, however, became desirous of developing the swamp lands in which he had invested near Lake . Michigan, and the same year that he made the change in his stock, he sold the store to Dr. Fithian. The building, which itself was worth a place in the history of Vermilion County because it was the first frame house built in the county, was on the south side of the public square on the east corner and re- mained standing many years. A less pretentious mercantile venture than that of Hubbard's was made by Dan Beckwith in 1821 near Denmark. He, with
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his brother George, came to the salt springs in 1809, and two years later is known to have had a few goods suitable for Indian barter, which he kept in a place partly excavated in the side of a hill at Denmark. A little later he moved to Danville and built a log cabin on the brow of the hill on Main street near Logan avenue. His later storeroom was located at the west end of the original Main street of Danville at the point where there is a turn in the street. He had as a partner one James Clyman who is described as a typical frontiers- man in buckskin leggins, hunting shirt and coonskin cap. Restless, as all of his kind were, he went on to the west as soon as the white man came here to make settlements.
Benjamin Canaday was the first merchant in the southern part of the county. He, with his father and three brothers, came to the Little Vermilion to settle in the fall of 1821. He was a tinner by trade, and during the winter of the deep snow, made up a stock of tinware and took it to Louisville, where he traded it for goods. This stock of general merchandise he brought back with him and sold to the neighbors. In 1831 he went to Georgetown, and with the Haworths began the mencantile interests of that place. He became the man of largest mercantile interests in that prosperous village. This was in 1830. Mr. Canaday remained in business with Mr. Haworth for a time when he sold out and formed a partnership with Mr. Abraham Frazier. After a time, however, he sold the store to Dr. Gillaspie, who came from Tennessee, and Mr. Canaday remained in the store. He continued in the mercantile interests for a long time until he amassed a fortune. He was the leading merchant of Georgetown for many years. Mr. Canaday was a public-spirited man and was always found in all the enterprises tending to advance Georgetown. He built the brick store that was such a pride to the community and in which his successors in business were to be found during their term of mercantile life. Dr. Gillaspie continued in business for some time, but at last went west.
Abraham Frazier was the one of that name who began the career of the family in the mercantile life in Georgetown. He was a tanner by trade, but went into the mercantile line and kept to that the rest of his life. His brother Abner came from Tennessee and began to farm, but gave it up to clerk in his brother's store. After a while he married, however, and went back to the farm. His sons were interested in mercantile matters and took the store con- tinuing the name of Frazier in the interests of trade in Georgetown, and hand- ing it down to yet another generation. Georgetown without a Frazier's store would be a strange place.
James Shannon was a merchant at an early day, but met a most distressing death from accident which ended his efforts in mercantile lines. Among the other men who were merchants in Georgetown at an early time, the names of Elam Henderson, Jacob Yapp, Joseph Bailey, Mr. G. W. Holloway, Richie and the Cowans are conspicuous. The merchants of Georgetown have had first at- tention since that was the chief interest of the section in the early days. Before Danville was of any worth as a trading point, Georgetown was a flourishing village, and the mercantile interest was better cared for in that place than in any other in the county. During those days trade was dependent upon the best means of transportation, and that was, of course, waterways. Produce
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went down the Vermilion, the Wabash and Ohio rivers to the Mississippi river, and needed articles came either back that way or came from Cincinnati down the Ohio and up the Wabash to Perrysville, Indiana, whence it was hauled in wagons. A regular line of steamboats were going from Cincinnati to Perrys- ville in the 'thirties. Perrysville was the distributing point for the entire sec- tion of Illinois to the north and to the west. Later the Wabash Railroad was finished as far west as State Line, and goods were hauled from that point. Sometimes these goods came to Covington by way of the canal and were hauled thence to Danville or Georgetown, but by this time trade in Danville was improving.
· Indianola was the center of an attempt at establishing trade in 1837. Mr. Atkinson built a store; that is, he built a log house with a frame addition, and kept some goods for sale. This was not a good time to make any business venture and his failure was to be expected. Mr. Atkinson, too, was not fitted to carry on trade as was the custom at that time. Twelve months' time was the rule with merchants, and no one expected any less. There was no crop which would bring money until about Christmas. Some would carry their produce to Chicago for sale, but it was to exchange for some goods needed in the family, and no money exchanged hands. No one bought cattle or hogs until fall, and it was usually not until mid-winter that any one had any money to spend in paying bills at the store or the shop before that time. John Williams kept a general store for a while and Mr. O'Bryant added a stock of harness, saddlery and clothing. John Gilgis came here in 1842 and began selling goods. Samuel Sconce came here about this time and really was the first to work up a large mercantile trade. He had been in this part of the country since 1831 and came to Indianola at this time from the farm which had become his son James'. Mr. Sconce had Mr. Joseph Bailey as his partner and also Mr. Gilgis. Mr. Bailey retired in 1857. During the business transactions of Bailey, Sconce & Co., it was no uncommon day's work to sell $500 worth of goods. Having noted the condition of trade in the southern part of the county in the days when yet Danville had no greater, and indeed not so great, facilities for the profitable exchange of products of the soil for articles needed for the house, it is well to take a look at the town northwest, on the north fork of the Big Ver- milion, whose prospects were more flattering than even these more southern villages, in the first years of county life.
Denmark was the coming town at the time of the location of the county seat, and it was a hopeful competitor to the town at the mouth of the North Fork, that at this time never had been. Denmark could boast a mill, while yet Danville was going to Paris, or seeking grist at her doors. Seymour Treat built this mill in 1829 or 1830. Even before this, Dan Beckwith had a trader's handful of goods under the bluff at Denmark, and trade had begun long before he had offered the land to the commissioners, who were locating a county seat. After the mill was started, a considerable settlement followed, and soon two dry-goods stores were opened. One belonged to Alexander Bailey, and the other belonged to Stebbins Jennings. The former was the first started in busi- ness. Mr. Bailey became a man of influence, attaining much prominence. Mr. Jennings was a good business man as well, and perhaps of a more practical
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turn. He took a leading position in Denmark, and was freely entrusted with matters of responsibility.
James Skinner was another early merchant of Denmark. Together with William McMillan, he bought the Treat mill. It is said by some that he opened the first inn. However that might have been, he was comparatively among the later comers to Denmark, and was by no means the earliest merchant in this early settled village. Mr. McMillan came about the latter part of 1832. Others had made the venture in mercantile work long before this time. John Williams kept a general store and also John Hunt. Returning to Danville, to note further the early mercantile interests. The storeroom built by George Haworth in 1827 was on the corner now covered by the Daniel building. This is the northwest corner of the plaza and has always been a favorite site for buildings and keep- ing store. This store was built by George Haworth and was made of huge logs nicely hewn, and was two stories high, and took all the men in the country around to raise it. It was also provided with defensive portholes above and below. It was in the eastern end of this formidable barracks that Gurdon Hubbard had his stock of goods for trade with the Indians. This building stood for twenty years, when Adams & Co. put up a two-story frame building on the site of this, but it soon burned. Mr. Bateman was a merchant in a portion of this building when it burned, and he soon after bought the lot and put up the one-story brick building in 1855. This building stood until the present handsome Daniel building was put up on the lot. This was the first corner occupied for mercantile purposes in Danvile, and has always been a popular corner.
The first store in Myersville, that once important village, was built and the store opened by William and Andrew Zeigler, of Attica, Indiana. This firm sold the first goods north of Danville, excepting in Denmark. Myersville was well located for trade, particularly after the Wabash Railroad made State Line city its western terminus. This firm was succeeded by William Biggs, and he in turn was bought out by Green & Gundy (Joseph Gundy) in the spring of 1852. Early in 1854 Andrew Gundy took charge of the business previously carried on under the firm name of Green & Gundy, and thereafter conducted it in his own name. In the year 1857 he did a business of $36,000, retailing these goods from the store. He carried on his private business of buying and selling wool and the feeding of cattle and hogs, but this was not included in the amount named for the sales of the store. People came here from the distance of sev- enty miles to trade and have their milling done.
Bismark had a store before it became a town. Robert Kerr built the room and began to sell goods, but was succeeded by John Leonard and then by Asa Bushnell. Mr. Bushnell bought out Mr. Leonard, and then went into partnership with Francis Gundy. They put up a nice building, and for a long time kept a general store. Green & Phillips kept a grocery and provision store for two years and were succeeded by Phillips Bros.
Rossville, Hoopeston, even Collison and Ridge Farm, as well as other towns and cities in the county which could be mentioned, were not without their mer- cantile interests, but their first efforts came so late in the years of the life of Vermilion County that they would be out of place in this resume of the first mercantile interests in the county.
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E. H. WHITHAM
JOHN L. HAMILTON
JOSEPII G. ENGLISII
J. S. McFERREN
C. L. ENGLISH
CHAPTER XXVII.
FIRST BANKS AND BANKING INTERESTS.
Although Danville was less than ten years old in 1836, its prospective im- portance was such as to warrant the establishing of a branch of the State Bank of Illinois at this place. The United States Land Office was here and, while it was yet a town little more than in promise, it bid fair to become a place of im- portance. Mr. Mordecia Mobley was sent here to take charge of the new ven- ture and rented a small building on the corner south of the public square and east of Vermilion street, where he built a stone vault outside the building in which he put his safe. Mr. Mobley was a competent and safe business man and conducted a safe and very good business. He did the entire business himself, being president, cashier, teller and clerk. He made a gratuitous distribution of bank-books among the depositors. This branch did not issue any bills but paid the money out of the parent bank. Every thing went prosperously, until the crash of 1837, which disorganized all business and put an end to the profits of banking here as well as elsewhere. It was a common occurrence at that time to have banks fail, and it is no wonder that the branch of the State Bank of Illinois at Danville was one of the number.
Banks failed, bankers disappeared and assets were missing, but it is recorded to the credit of Mr. Mobley that in his disappearance, none was defrauded. It is perhaps the only instance on record that a banker ran away and no one was the loser. The explanation of this is that when business became dull he spent much of his time in hunting, and being a lover of good horses he had a good team which he used in going away from home frequently. Because of this he could disappear one morning with his family and entire assets of his bank without causing suspicion. He knew that if it was known that a removal of the bank was contemplated, measures would be taken to prevent it, and much annoyance would ensue. Knowing as well that no one was defrauded by his going, he slipped away secretly.
The next bank was started by an eastern man by the name of Cullum. This was in 1852, and the bank was one of those known as a stock security bank- that is a certain portion of the capital was invested in state stocks, usually in the stocks of Missouri, North Carolina, Tennessee and other southern states. The state of Illinois was bankrupt and had not even paid the interest of its debt for fifteen years, so her bonds were not considered bankable, and other bonds were
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sought. Eastern state stock could not be bought, hence a new bank must buy stocks of some southern state. When the rebellion broke out such states could not of course pay their bonds, nor even the interest on them, and consequently these banks established on this system which had not already failed, succumbed. Mr. Guy Merril was appointed cashier of this Cullum bank, and it was located in the old frame building. It had a capital of $50,000. Later it was removed to a building opposite the McCormack House. This bank was run successfully for three years and then sold to Daniel Clapp who had neither the required capital nor the experience to carry it on and in 1856 he failed. As soon as he failed; brokers all over the country stood ready to buy his bills at from fifty to seventy cents on the dollar. Messrs. Tincher and English, who had for some time been carrying on a large and growing business, were Clapp's assignees, and after closing up his business opened a private bank. These men were of much ex- perience in this vicinity, had sufficient capital for the then state of trade, were safe and judicious and enjoyed the full confidence of the people of the entire county. This private bank, established in 1856, was the beginning of the well known First National Bank of Danville. The first test of their ability to weather financial storms came in the year following the establishing of the bank. This bank sent the first application received at Washington for a charter under the national bank act of 1864, and in 1872 increased the capital to $150,000. They went through the panic of 1873 without difficulty.
The real estate firm of Short and Wright commenced banking in connection with its business in about 1865. In 1867, Mr. Abraham Sandusky and Andrew Grundy became partners of John C. Short, and continued the business under the name of the Exchange Bank of J. C. Short & Co. This firm was interested in the development of. the coal interests, and in building railroads which at that time were much needed and promised to be remunerative. Because of a variety of reasons this bank failed and the Danville Banking and Trust Co. was organ- ized on its ruins. This business enterprise, however, was of short duration. The Vermilion County Bank established by W. P. and J. G. Cannon is now the well known and trusted Second National Bank. It was established in 1873 with a capital of $10,000.
CHAPTER XXVIII.
BUILDING ASSOCIATIONS. Compiled by J. H. Phillips.
An act of the legislature approved April 4, 1872, "to enable associations of persons to become a body corporate, to raise funds to be loaned only among their members, having for their object the assistance of persons of small means to se- cure homes at about the cost which they must pay per month for rent," was a great factor in the building of Danville. The first building association or- ganized was in 1873, with W. P. Cannon as president; William Giddings as vice president ; Asa Partlow, secretary; R. A. Short, treasurer, and F. W. Penwell, attorney, who with George Wheeler Jones, M. D., J. H. Miller, O. S. Stewart, W. J. Henry, George Dolon, J. R. Holloway and C. U. Morrison, constituted the board of directors. The capital stock was limited to $400,000, and the books were closed when 3.313 shares had been subscribed, at $100 each. This was The People's Building Association. The Mechanics' Building and Homestead Asso- ciation of Danville, perfected its organization, November 22, 1873, with W. W. R. Woodbury, president ; W. A. Brown, vice president ; J. H. Phillips, secretary ; E. H. Palmer, treasurer, and J. W. Jones, attorney. The 2,500 shares of author- ized capital stock was duly subscribed.
The Danville Building and Savings Association was organized August 20, 1873, will Judge Terry, president; J. G. Holden, vice president; V. LeSeure, secretary; A. S. Hawes, treasurer; and J. P. Norvell, attorney. The capital stock was $250,000. The officers later became : J. G. Holden, president ; Dudley Watrous, vice president ; B. E. Bandy, secretary; A. S. W. Hawes, treasurer ; J. P. Norvell, attorney, who with the following composed the board of directors : V. LeSeure, C. L. English, C. K. Miers, C. J. Palmer, J. B. Mann, E. E. Boudin- ott and John W. Dale.
The Danville Benefit and Building Association was chartered June 12, 1874, a few days before the act repealing the act authorizing such associations took effect. An organization was effected February 28, 1877, with J. G. Holden, presi- dent; S. H. Stewart, secretary, and T. S. Parks, treasurer, and twelve directors. The authorized capital was $1,000,000, in shares of $100 each. A second series of shares was opened in March, 1879. The assets of this association at its last annual statement, March, 1910, were $1,535,534.50. The assets of this asso- ciation at its last annual statement, January, 1910, were $487,153.45. In De- cember, 1888, The Germania Building Association was organized, on the serial plan. Authorized capital, $10,000,000. Its first officers were: president, G. L. Klugel; vice president, Gottlieb Maier ; secretary, Carl Winter; treasurer, A. Es-
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slinger ; attorney, W. P. Lawrence. The assets of this association were at its annual statement, January, 1910, $631,255.96.
The Building and Loan Associations located in Danville, from the date of the organization in 1873, have been phenomenally successful, and of incal- culable value to the people. And not only by enabling thousands of families to procure their own homes, but also by instilling and fostering in the minds of the people the importance of saving money. By the last report of the Auditor of Public Accounts of the state of Illinois, for the year 1909, the assets of the Building and Loan Associations in the entire state, amounted to $58,444,972.52, and of that sum, $6,337,553.12, or nearly eleven per cent are held by the asso- ciations located in Danville. The three building associations organized in 1873 issued all their shares as of the same date, and when those shares reached the matured value, $100, the association necessarily went out of business, which they did in about eight and one-half years, from the date of organization. At the session of 1878-79, the Illinois legislature reenacted the building asso- ciation law : said act being in force from and after July, I, 1879, and has been amended by acts of sundry dates thereafter. In December, 1879, The Equitable Building and Loan Association was organized on the serial plan, and with an authorized capital of $5,000,000. Its officers were William P. Cannon, president ; Dr. George Wheeler Jones, vice president; Asa Partlow, secretary; John W. Giddings, treasurer; F. W. Penwell, attorney: Its assets at its last semi-annual statement, August, 1910, were $913,516.16.
November 18, 1880, The Danville Building Association was organized on the serial plan and with an authorized capital of $10,000,000. Its officers were George W. Hooton, president ; William A. Brown, vice president ; James H. Plıil- lips, secretary ; Ezra A. Leonard, treasurer ; and James W. Jones, attorney. Its assets at its last semi-annual statement, July, 1910, were $1,870,792.26.
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