USA > Illinois > Peoria County > Peoria > Peoria city and county, Illinois; a record of settlement, organization, progress and achievement, Vol. I > Part 72
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PEORIA NATIONAL BANK
The history of the Peoria National Bank dates back to 1852 when the bank- ing firm of J. P. Hotchkiss & Co. was organized, with Lewis Howell as cashier and manager. The bank was first located in a narrow room at the west corner on Main street and Commercial alley, but in November, 1855, was removed to the northwest corner of Main and Washington streets. Joshua P. Hotchkiss, the head of the firm, died in 1856, by his will leaving Mr. Howell in charge of the bank, for the benefit of his heirs. In January, 1860, the name of the firm was changed to L. Howell & Co., the company being composed of Mr. Howell, J. Boyd Smith and J. B. Headley, and, on January 1, 1863, Lorin G. Pratt succeeded
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to the interest of Mr. Headley, Mr. Howell continuing as manager. On January 1, 1864, another change occurred in the chartering of the bank under the national bank act, under the name of the Second National Bank of Peoria, with a capital of $200,000.00 and with L. Howell as president, L. G. Pratt, vice-president, and J. B. Smith, cashier. In January, 1874, George H. McIlvaine succeeded to the vice-presidency, and Thomas G. McCulloch, Jr., became cashier. Four years later (1878), Charles P. King was chosen vice-president, and George H. McIlvaine, cashier. May 24, 1880, Vice-President King was advanced to the presidency as successor to Mr. Howell, deceased.
The charter of the Second National having expired in February, 1883. it was liquidated, and the bank was reorganized under the name of the Peoria National Bank, with Mr. King as president, and Mr. Mellvaine as cashier. The board of directors consisted of Charles P. King, George H. Mellvaine, Calvin C. Lines, Charles B. Day, Philip Zell, Charles H. Kellogg and William Jack. The director- ship for 1889 remained unchanged, except that Charles B. Day and Charles H. Kellogg were succeeded by Newton C. Dougherty and Leonard F. Houghton. At the same time Mr. Mcilvaine became vice-president, Richard A. Culter suc- ceeding him in the office of cashier. Mr. Culter was succeeded in the cashier- ship in 1893 by Leonard F. Houghton, who was succeeded in 1902 by Harry T. Bartlett, who served about eighteen months. Mr. Houghton then resumed the office for a few months, when in January, 1904, S. O. Spring was elected his suc- cessor. In January, 1893, Mr. Culter became a director, as successor to Leonard F. Houghton, and in March following. Mr. King having died after a service of ten years, George H. Mellvaine was chosen president to fill the vacancy. In 1807 Philip Zell succeeded to the presidency, in place of Mr. Mellvaine, de- ceased. and April 18, 1900, Mr. Zell having died, Newton C. Dougherty was chosen to succeed him. The report of the condition of the Peoria National Bank for August. 1905. shows capital of $200,000.00 ; surplus and profits of $51,454.46; deposits of $1,286,540.94 and total resources of $1.806,370.57.
This was the last statement made by the bank, which was placed in the hands of a receiver, October 7. 1905, in consequence of the downfall of its president, Newton C. Dougherty, who was found to have abstracted a large amount of the funds of the public schools, of which he had been superintendent for many years. O. C. Berry, of Carthage, Illinois, was placed in charge as receiver, and after about two years, paid the depositors in full with interest and turned back the remaining assets to the stockholders.
ANTIIONY LOAN AND TRUST COMPANY
This company, whose principal business was loaning money on farm prop- erty and dealing in real estate mortgages, was the outgrowth of a business first established in Washington, Tazewell county, by Charles E. Anthony, about the year 1866. The business was for a time carried on in connection with that of the banking firm of Anthony & Denhart of that place, but in 1874 a branch house was established at Chatsworth, Illinois, under the name of Anthony, Den- hart & Wilson, and placed in charge of Clifford M. Anthony. The field of opera- tions in farm loans was much enlarged and the business grew rapidly. In 1877, Clifford M. Anthony returned to Washington as a partner in the firm. In 1882 the firm was appointed financial correspondent of the Connecticut Mutual Life Insurance Company for the state of Illinois.
About this time G. W. Curtiss, who had been engaged in the banking busi- ness at Urbana, Illinois, entered the employment of the firm in connection with the loan business. Early in 1885. the Anthony brothers severed their connec- tion, with the house of Anthony & Denhart, retaining the farm loan business, and, removing to Peoria, formed the copartnership of C. E. & C. M. Anthony, in which Mr. Curtiss became a partner in 1888. In 1891 the firm was incor-
PEKIN WAGON COMPANY
R. HERSCHEL MANUFACTURING COMPANY PLANT
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THE PEORIA CORDAGE COMPANY
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BIRD'S-EYE VIEW OF THE VERY COMPANY PLANT
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HISTORY OF PEORIA COUNTY
porated under the name of the "Anthony Loan & Trust Company," with C. E. Anthony, president; C. M. Anthony, vice president, and G. W. Curtiss, secretary and treasurer. In 1898, Charles E. Anthony having retired from active par- ticipation in the management of the business, C. M. Anthony was chosen presi- dent, C. E. Anthony, vice president, Mr. Curtiss retaining the office of secretary and treasurer until 1899, when he became one of the vice presidents. The business of this company was taken over by the Dime Savings and Trust Com- pany.
TITLE & TRUST COMPANY
Though not strictly a banking institution the Title & Trust Company of Peoria had an intimate relation with the financial interests of the city, and is deserving mention in this connection. It was incorporated in 1890 by leading capitalists of the city, and, while its chief business was the investigation and furnishing of abstracts of title to real-estate, and the issuing of guaranty cer- tificates for the protection of owners and mortgagees from loss by reason of defective titles to real-estate in Peoria county, it also conducted a loan depart- ment for the purpose of making investments in real-estate (both farm and city property ), dealing in mortgages, collecting interest on loans, etc. It was em- powered by its charter to act as executor or administrator of estates ; as guardian, receiver, assignee or in any other capacity assumed by a trustee in taking charge of estates. The company had a capital of $100,000 with $50,000 deposited with the state auditor for the security of all trust obligations. The board of directors was composed largely of stockholders of different banks. The business of this institution also was taken over by the Dime Savings and Trust Company.
PEOPLE'S SAVINGS BANK
The People's Savings Bank of Peoria was organized on a copartnership basis by Messrs. Martin Kingman, Charles A. Jamison, Rudolph Frey and E. C. Heidrich, and began business March 11. 1889, at 1329 South Adams street. The original stock was $10,000, which was subsequently increased to $12,500. At the outset Rudolph Frey served as the active manager and cashier, but in April, 1890, sold his one-quarter interest to Martin Kingman, and was succeeded in the position of cashier by George W. Zinser. In July, 1890, all the partners sold out their entire interests to Jacob Woolner.
In 1904 Louis W. Look became cashier but unfortunate conditions existed which made it necessary to close the bank and its affairs were placed in the hands of a receiver. Assets were found insufficient and deposit liabilities were cancelled on the basis of sixty cents on the dollar.
ZELL, HOTCHKISS & COMPANY ( PRIVATE BANKERS)
The banking house of Zell, Hotchkiss & Company was organized as a partner- ship concern to do a private banking business, in 1870, the partners being Philip Zell, Walter B. Hotchkiss and Henry C. Fursman. On the death of Mr. Hotch- kiss, which occurred November 21, 1874, Mr. Zell acquired the interest of both Hotchkiss and Fursman, thereby becoming sole owner, and so continued until his death, April 11, 1900. Mr. Homer C. Lines occupied the position of cashier continuously for a period of twenty-six years (1873-1899). After Mr. Zell's death the business was conducted for his heirs by W. E. M. Cole, who had succeeded Mr. Lines in the cashiership, but was discontinued as soon as matters then pending could be brought to a conclusion.
Another private banking concern was that of J. B. Hogue & Company, estab- lished May 1, 1867, by James B. Hogue and Thomas L. Davis, with a capital
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HISTORY OF PEORIA COUNTY
of $50,000. On account of ill health Mr. Davis retired in May, 1874, Mr. Hogue becoming sole owner. In March, 1880, the concern was compelled to suspend in consequence of heavy losses resulting from failure of a local business concern, but subsequently paid all liabilities in full.
Mr. William Oberhauser started a private bank here in 1885, which con- tinued in operation about eight years, going into liquidation in 1893. It was at first located at the corner of Washington and Bridge streets, but afterwards removed to Adams street at the head of Bridge street.
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PEORIA BOARD OF TRADE IN ISSO
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REMINDER OF PEORIA COUNTY'S FIRST CORN FAIR
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CHAPTER XXX
THE BOARD OF TRADE-INDUSTRIAL PEORIA-USES MORE CORN THAN ANY CITY IN THE UNITED STATES-MILLIONS PAID THE GOVERNMENT YEARLY IN REV- ENUE-GREAT MANUFACTURING PLANTS AND MANY OF THEM.
Peoria is situated in the center of the most productive agricultural state in the Union. At its very door lie rich deposits of coal and underlying it is an inexhaustible vein of pure water of easy access. It is situated on the Illinois river, which gave it the earliest means of transportation facilities.
These natural advantages drew to it manufacturing enterprises, many of which were large consumers of grain and so in an early day made Peoria a grain market, and as early as 1857 there was duly incorporated a Peoria Board of Trade, with John C. Grier as president and A. G. Tyng, Sr. as vice president, with fifty members, all of whom have passed away with the exception of B. L. T. Bourland.
This association was organized for the furtherance of the grain business, and like all other boards of trade, was instituted to meet a commercial need. It also undertook to further all other commercial interests of the city. This organization was succeeded in 1869 by the present Peoria Board of Trade, with Horace Clark as its first president. While this exchange was instituted as a distinctly grain exchange, it has always taken a lively interest in national. state and city affairs. Its rules, like all other exchanges, insist upon just and equitable business methods on the part of its members and also provide for the arbitration of all business differences and while differences will occur, courts of law have rarely, if ever, been resorted to for adjustment.
The great movements of recent years have been along the lines of organi- zation and cooperation and the Peoria Board of Trade secures its members these advantages to successfully and intelligently meet the exigencies of the ever changing conditions the world over, which invariably affect the grain trade more or less.
Boards of trade and their members have been subject to much adverse criti- cism from persons who cannot or will not distinguish the difference between a gambler who risks his money on a chance and the speculator who buys or sells on his judgment after scanning the news of the world as to supply and demand, or the man who buys to provide against future needs or sells for future delivery to better advantage than present prices will return.
While the members of the Peoria Board of Trade, like other prudent and conservative men in the grain trade, take advantage of the future markets when they offer assurances of securing profits, yet the Peoria Board of Trade is rather distinctly a cash grain market.
The local consumption of grain at Peoria demands about 60,000 bushels per day, while the demand from shippers and for storage purposes is only lim- ited by the price at which it is offered. The constant demand for these pur- poses insures a strong and healthy competition at all times.
The inspection of grain is according to the uniform rules adopted by all western markets and is what may be termed commercial inspection. Since the
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HISTORY OF PEORIA COUNTY
adoption of the moisture test it has been given to the patrons of this market without extra charge. The inspectors are employed by the board and are under the supervision of a committee representing all interests in the trade : receivers, shippers, consumers and producers. These inspectors are men who have grown up in the trade and have been promoted from helpers as vacancies occur, which is the rule followed.
The weighing department consists of a chief weighmaster with the necessary corps of deputy supervisors at all industries and elevators and a scale expert, who are all employed directly by the Peoria Board of Trade. All defects or leakages are carefully noted on certificates sent to the consignor, which may be used as evidence if a claim is to be made for shortage.
There are fourteen railroads running into the city and it is a division point of all the roads. Three public elevators with 2,500,000 bushels capacity, with every facility for transferring and conditioning grain quickly, are at the service of the trade: Burlington elevator, 1,000,000; lowa elevator, 1,000,000; Central City elevator, 250,000.
Switching facilities are the most perfect of any market, requiring no multi- plicity of switching orders, and Peoria is noted for its prompt returns. Many cars are daily accounted for the next day after arrival.
In the days when country banks were few, the members of this board sup- plied this deficiency with their means and credit in financing the movement of crops during harvest and to hold grain until demand and markets would re- ceive it. They are still doing this as reasonable requests come to thein. It will always be the aim of its members to further the mutual interests of those engaged in the trade and distribute free of charge all news that can be gath- ered affecting the market.
The benefits to accrue in future years from the Peoria Board of Trade to the city and the grain territory tributary to Peoria can certainly be contem- plated with hopeful expectancy. for since its organization millions of bushels of grain and thousands of tons of hay, totaling millions of dollars in value, have been handled and accounted for by its members with the utmost fidelity and carc.
Peoria has come to the front rapidly as a primary market during the past few years. Its importance as a handler of corn and oats has attracted the at- tention of the whole country. Peoria does not claim prominence as to wheat, rye or barley, though considerable business is done there every year in these cereals, and its industries use large quantities of rye and barley of the best grades.
This city does claim a place in the very front rank as a receiving market of corn and oats every day in the year, and is equally well known as a shipping point to all parts of the south and east. Peoria's system of inspection and weighing, every feature of which is directly under the jurisdiction of the Board of Trade, has proved entirely satisfactory to the country shipper as well as to the consumer, the country over. And it is not on the program that any backward steps will be taken. On the contrary, the Peoria grain market during the past few years has successfully met and won every controversy which threatened its supremacy.
Peoria is the largest daily consumer of corn in the world and. in addition to the corn ground up there every day, supplies a very large portion of that used in the neighboring city of Pekin, which is only ten miles away and con- tains three large corn industries.
The motto of Peoria grain dealers is: "Treat your customer fairly every time, and you will keep him, if your market values are in line."
Receipts of grain at Peoria during four months prior to May 1, 1912, amounted to 266.835 bushels of wheat ; 7.885,18I bushels of corn; 2,324,110 bushels of oats; 89,175 bushels of rye ; and 716,711 bushels of barley, compared with 208,954 bushels of wheat: 6,413,883 bushels of corn; 1,706,125 bushels
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HART GRAIN WEIGHER COMPANY
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KINGMAN PLOW COMPANY
AN EARLY PEORIA FACTORY
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HOME OF PEORIA DRILLS AND SEEDERS
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of oats; 122,600 bushels of rye; and 825,032 bushels of barley received during the corresponding four months of 1911.
Shipments of grain from Peoria during the four months prior to May 1, 1912, amounted to 245,485 bushels of wheat; 5,489,229 bushels of corn; 3,668,- 407 bushels of oats ; 52,756 bushels of rye; and 269,351 bushels of barley, com- pared with 140,667 bushels of wheat; 5.406,722 bushels of corn; 2.145.302 bushels of oats ; 27.774 bushels of rye; and 431,569 bushels of barley.
Total receipts of all grain were 11,282,012 bushels during four months of 1912, compared with 9,276,594 bushels received during the same period in 1911. Total shipments during the four months were 9,725,228 bushels, compared with 8,152,034 bushels of grain shipped during the same period of 1911.
Peoria is the second city of the state of Illinois in population. It is the terminal point of fourteen railroads, including the most important systems of the United States. The Illinois river is navigable ten months in each year and traffic on it is gradually increasing.
The new city directory, issued May 1, 1912, contains 51,124 names, indi- cating a population of 115,029.
Peoria's parks and parkways contain four hundred and twenty-five acres and are valued at $3,500,000. This acreage is included in Peoria pleasure and park driveway systems and in this system is Grand View drive, 14,632 feet in length and 100 feet wide, skirting the bluffs and overlooking the Illinois river valley.
Topographically the city of Peoria and the city of Washington are almost identical. A view unrivaled in America, according to Ian Maclaren, is the Prospect Heights view of the Illinois river valley, the winding stream, the blossoming fields and the neighboring cities.
The pages of this volume increased so rapidly that when the writer reached the subject of industries of Peoria, an important and very interesting one, he was compelled to condense his lines very much against his will. Peoria is a great manufacturing center and is teeming with many and varied industrial concerns, all of which should be given a place here, but lack of space will not admit of it. A few of the leading manufactories will simply be touched upon.
It is interesting to know that early in the history of Peoria the manufacture of farm implements began. This was in the decade between 1850 and 1860. The first firms to handle farm machinery were Curtenius & Griswold, J. W. For- sythe, and a man by the name of Gray. Soon after them came into the field the late Isaac Walker and Harvey Lightner. Moses Pettengill also sold hardware and farm machinery.
The Kingman Plow Company is one of the oldest and largest of Peoria's in- dustries. The factory is located in Averyville on North Adams street and is a modern, well equipped plant, giving employment to about 350 people. The busi- ness was founded by Martin Kingman in the year 1867. This company has branch houses in St. Louis, Kansas City, Omaha, Dallas, Oklahoma, Denver and Des Moines. Its export trade is handled from an office in New York city. At this plant is manufactured riding plows, steel lever harrows, disc harrows, cotton planters, corn listers, cultivators, etc.
The largest manufacturing concern in Peoria is the Avery Company. The business was originally organized as a partnership by R. H. and C. M. Avery, in Galesburg, Illinois, in the early 'zos. It was later incorporated as The Avery Manufacturing Company. In 1883 the Avery Planter Company was organized, with a capital stock of $200,000. The capitalization was increased in 1893 to $300,000. In 1900 the capital was raised to $1,000,000 and the name changed to The Avery Manufacturing Company, whose capital stock is $2,500,000. The officers are: J. B. Bartholomew, president ; H. C. Roberts, vice president ; El- wood Cole, treasurer ; and F. B. Kinsey, superintendent. Both of the original founders are dead but their representatives still hold stock in the corporation, and G. L. Avery, a son of C. M. Avery, is a member of the board of directors.
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The plant covers a total of fifty acres. It maintains branch houses at Omaha, Des Moines, Minneapolis, Fargo, Billings, Aberdeen, Kansas City, Indianapolis, St. Louis, Grand Forks and Sioux Falls. The company employs from 800 to 1,200 men. The principal output of the factory are traction engines and thresh- ing machines.
One of the old established manufactories in Peoria is that of the Culter & Proctor foundry, where are made heating and cooking stoves and ranges. About the year 1907 the concern was absorbed by a stock company, at the head of which is Robert D. Clarke. Proctor P. Cooley is the vice president and general manager and Garrett D. Kinsey, secretary and treasurer. The estab- lishment occupies a solid city block between Hamilton, Fayette, Commercial and Water streets, in a five-story building. About 180 men are given employ- ment.
The R. Herschel Manufacturing Company started in 1887 with little capi- tal and employed five men in a shop 40 x 40 feet. In 1893 the company was incorporated with a capital of $30,000. Later this was increased to $50,000, and at the present time the capital and surplus amount to $600,000. The origi- nal plant was located at the corner of South Washington and Persimmon streets, where were manufactured mower knives, reaper sickles, sections, heads, guards and other parts of mowers and binders. In 1902 the new plant was located in East Peoria, covering six acres of floor space and giving employment to 300 people. Additional buildings were erected in 1910 which double the capacity of the plant. Shipments of the Herschel products are made to South America, Germany, France, England, Switzerland, Russia, Sweden, Siberia, Australia and other grain producing countries.
In 1892 J. B. Bartholomew, a member of the Avery Company, put up a little factory in Des Moines, Iowa, where he manufactured peanut roasters. The business grew to such proportions that in 1893 a larger and better equipped factory became necessary. That same year the concern was incorporated as the Bartholomew Company, and in 1900 the plant was moved to Peoria, taking up its quarters in the old watch factory on West Bluff. In 1902 Mr. Bartholo- mew began manufacturing Glide automobiles in connection with the roasters. and in 1904 the plant was enlarged by an addition of a brick building two stories in height, 250 feet in length, by 48 feet in depth ; but, by 1909, the build- ings proved to be inadequate and the plant was moved to its present location at Peoria Heights. Here many hundreds of employes are given steady work. The officers of the concern are: J. B. Bartholomew, president: A. Y. Bartholo- mew, first vice president: O. Y. Bartholomew, second vice president; and Charles Tjaden, secretary.
About the year 1887 the Hart Grain Weigher Company started in business in a small one-story building, where but a few men were employed, but today it owns and occupies a five-story, modern factory building, where 350 men are given steady work. In 1908 the company's four-story building was destroyed by fire, which had been built in 1901. This building has been replaced by a larger and better one, five stories in height. The Hart Grain Weigher Company makes a complete line of grain weighers, loaders, baggers, wing carriers and thresher racks. The officers are: S. H. Hart, president; W. B. Wilde, vice president and treasurer ; J. E. DeVries, secretary.
The Acme Harvesting Machine Company manufactures binders, mowers. sulky rakes, stackers, transport trucks, Craver headers and other farm machinery. It has branches in many of the European and South American countries. The plant is an extensive one, having a floor space covering an area of about sixty acres and gives employment to a large number of men.
The factory of the Peoria Drill & Seeder Company is also on North Perry street. Its line of manufactures includes grain drills, broadcast seeders, end-gate seeders, stalk cutters, harrow carts, phosphate distributors, etc. C. A. Patterson is president of the company; Walter Barker, vice president ; and L. E. Roby, treasurer and superintendent.
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The Harrington Manufacturing Company is on North Adams street. It began , in a small way and is today one of the important concerns of the city. The out- put of the Harrington Manufacturing Company consists of rural free delivery wagons, of which it makes a specialty, but as a matter of fact all kinds of light commercial wagons are made at this plant. The company was organized and in- corporated in 1903, at Monticello, Illinois, and in 1904 moved to Peoria.
But why go into detail any further? This article has been drawn out too long now to harmonize with the space left for it. It hardly seems fair to mien- tion just a few of the industries of Peoria, while so many of equal importance are not given space. There are at least four hundred manufacturing plants in the city with a capital invested of $25,000,000. These plants employ an army of 12,000 men and hand out in wages annually about $8,000,000. Their finished products amount to about $60,000,coo. No town on earth makes more whiskey than Peoria and it paid the government during the fiscal year of 1911 about $30,000,000 in internal revenue.
Peoria has its cordage factory, an immense concern, which was organized in 1888 with a capital stock of $200,000, which was increased in 1898 to $400,000. The plant manufactures binder twine, which finds a sale in all parts of the world, and throughout the year employs from 250 to 300 people. E. C. Heidrich is president and manager. He is ably assisted by his sons, E. C. and Arthur G. Heidrich.
There is also the Thomas & Clarke Cracker factory at the corner of Bridge and Washington streets; the Behrens ice plant, which manufactures artificial ice; the Keystone Steel & Wire Company and hundreds of others.
THE BIG WHITE STORE
The firm of Schipper & Block, composed of Henry C. Block and John C. Schipper, was first formed in Pekin, Illinois, in 1860. Proving successful, it was proposed that another store be opened in Peoria, a much larger city, just ten miles away. For this work Fred L. Block, the younger brother of Henry C. Block, and Theodore Kuhl were commissioned to take charge of the new ven- ture. On October 12, 1879, the modest shop in Peoria was opened at 124 South Adams street, and the record of its growth from that day to this-a third of a century-has been phenomenal.
The business soon outgrew its quarters and in 1890 it became necessary to move to the Woolner building, which had just been erected. In 1895 the Tucker furniture store was purchased and continued at 317-319 South Adams until 1905. In August of that year, Schipper & Block moved both stores to the Big White Store, built and owned by them. They also added new departments and warehouses. This firm employs more people than any other institution in the city of Peoria, having as many as six hundred and fifty helpers at times. Schipper & Block now have about three and one-half acres of selling space. Including all warehouses and the garage, there are about six acres of space. Death having removed John Schipper and Fred Block. The present members are : Henry Block, president ; Theodore Kulil, vice president; Carl Block, secretary ; H. H. Block, treasurer.
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