USA > Indiana > Centennial history and handbook of Indiana : the story of the state from its beginning to the close of the civil war, and a general survey of progress to the present time > Part 47
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Union Station, Indianapolis.
canals are still used to a considerable extent. although the section of the Wabash & Erie canal between Fort Wayne and Lafayette has not been used for many years. In 1847 the first railroad was completed into Indianapolis, and connected this city with the Ohio river at Madison. This was the beginning, and the transportation facili- ties have continued to increase, until now there are sixteen completed lines in Indianapolis, con- meeting in the State with many other lines, which all bring their passengers to one magnificent union station. The erection of the present union passenger station was begun in 1888. No capital city in any of the States is more advantageously situated with reference to convenience of access
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by the citizens of the State, and there are but few county seats in the entire State from which it is not possible to reach Indianapolis and return the same day.
Indianapolis Union Railway Company .- The Indianapolis Union Railway Company succeeded in 1883 to the enterprise inaugurated in 1853 by the Union Railway Company. The company operates fourteen miles of track known as the Belt railroad, which is double-tracked and ex- tends around the city, and also has a mile of track in the city, connecting the Belt with the union passenger station, which is also owned by
ated in and out of Indianapolis every twenty four hours, and these carry more than 6,000,00 people annually.
Indianapolis secured its first interurban line in 1900, when two short lines were completed one between Indianapolis and Greenfield, a dis tance of sixteen miles, and between Indianapoli and Greenwood, a distance of twelve miles.
Indianapolis Terminal Station, for use of th electric roads entering Indianapolis, was the ide: of Hugh J. McGowan, president of the Indian apolis Terminal and Traction Company. It i the greatest station of its kind in the world, and
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Belt Railroad and Stock Yards.
this company. The station is one of the finest in the United States, has a train shed 300 x 650 feet, and has a handsome three-story brick build- ing surmounted by a lofty tower, which is a beautiful structure in Romanesque architecture, used for offices and waiting rooms of the station. Over one million freight cars are handled annu- ally over the Belt railroad. It was the first switching railroad to be built in the country, and transfers freight from factory switches to all roads.
Interurban Railways .- Coming into its great terminal station, the finest in the world, are four- teen independent electric traction lines, connect- ing with more than twenty-five roads, which tap one of the richest and most densely populated sections of the country Over 600 cars are oper-
was built at a cost of $1,000,000. The building in addition to being the terminal for all electri traction interests, is one of the finest office struc tures in the city.
The Indianapolis Terminal and Traction Company .- The completeness of the street ca service of Indianapolis is one of its most notably features. Over 168 miles of track are in opera tion, reaching all sections of the city, parks and suburbs. The first street car line was built in this city in 1864, and from this grew the presen magnificent system. Under the management of the present company, which was organized August 4, 1902, many notable improvements and extensions have been made.
The Belt Railroad & Stock Yard Company of Indianapolis was organized in 1877. The geo
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
graphical location of the yards has made this the most important point in the country for the un- loading, watering and marketing of stock des- tined for New England and export slaughter. The system of railroads centering at Indianapolis makes it the most accessible point in the country for live stock shippers. The great capacity of the yards and the facilities for unloading, resting and reshipping are unequaled by any other yards in the country, east or west.
Track Elevation in Indianapolis was started by the Commercial Club at a meeting held in 1894. The meeting authorized the appointment of a permanent commission on track elevation to continue the effort in Indianapolis until success- ful. The commission was headed in the begin- ning by Colonel Eli Lilly as chairman and Will- iam Fortune as secretary. On the death of Colonel Lilly in 1898, Mr. Fortune became the chairman, and has since continued at the head of the commission. In 1898 an ordinance was passed under the Taggart administration regard- ing elevation of tracks, but was defeated in the courts. Finally in 1905, under the Holtzman administration, track elevation at the Massachu- setts avenue crossing was started.
Early Banking in Indiana .- The history of banking in Indiana from the earliest settlement of the territory until the inauguration of the national banking system has furnished many in- teresting pages-vivid pictures of frenzied finance, with eras of artificial prosperity and wild speculation, to be followed by periods of depres- sion and financial failure.
In the earlier days money was rarely seen. Peltries were used as currency and values were estimated in coon skins and other commodities. Many interesting anecdotes are related to illus- trate the expedients to which the early settlers were driven to supply mediums of exchange. One that aptly describes the situation is told of a settler near Vincennes who required the serv- ices of a doctor. When time for settlement came he discharged the obligation by giving the doc- tor an agreed number of ax handles, the only commodity he had. The doctor in turn drove to town and made a purchase of bacon, flour, etc., paying the merchant in ax handles. After computing the value of the ax handles, as the amount was greater than the value of the mer- chandise purchased, the merchant gave the doc-
Indiana National Bank.
tor two hatchet handles as change for the differ- ence due him.
Indiana had no distinctive currency of its own. Spanish milled dollars and a few notes of the Bank of the United States and its branches and "cut silver," an attempted division of a dollar into five quarters, according to E. Chamberlain, an early historian, was the only circulating medium.
First Banks in Indiana .- In 1814, the Ter- ritorial Legislature chartered the Bank of Vin- cennes and the Farmers' and Merchants' Bank of Madison, and on January 1, 1817, the Bank of Vincennes was adopted by the Legislature as a State bank. It was empowered conditionally to adopt the Farmers' and Merchants' Bank of Madison as one of its branches and to establish other branches at Brookville, Corydon and Ve- vay. Immediately upon its adoption, its man-
Fletcher American National Bank.
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
agers entered upon a system of frenzied finance, issuing more paper than the bank could possibly redeem. and embezzling $250.000 deposited in the bank by an agent of the United States for safekeeping. The notes of the bank became worthless, but the bills of the Farmers' and Merchants' Bank of Madison were ultimately re- deemed after passing at a depreciated value for many years.
In 1832, when the State began a vast scheme of internal improvements, witnessed another period of inflated currency. Cheap money, im-
Merchants' National Bank Building.
ported from Michigan by the contractors on the canals and other public works, was used by them in paying their laborers. It was paid out in vast sums and very little of any other kind of money was in circulation in Indiana. Merchants and millers and others also issued bills. Wm. 11. Sunth, in his history of Indiana, says: "As a rule these bills, or 'shin-plasters,' were redeem- able only at the mill or the store of the issuer. Most of the merchants or millers eventually became bankrupts and left thousands of dollars of their currency unredeemed." Ac-
cording to the same authority, Asbury Univer- sity issued a great many of these "shin-plasters," all of which the university redeemed.
Present Financial Institutions .- According to the report of the Banking Department of the State of Indiana, of June 23, 1915, there were 258 national banks in operation in the State, with total resources of $244,134,274.76. Under State supervision, there were 378 State banks, total resources $103,441,098.16; there were 144 trust, companies, total resources $126,116,750.76; there' were 201 private banks, total resources $30,058,- 998.12; there were five savings banks, total re- sources $14,703,030.30, and 341 building and loan associations December 31, 1914, with total resources of $56,427,548.66. The grand total of all resources of building and loan associations and all banking institutions in Indiana according to this report was $575,242,318.61.
Banking in Indianapolis .- The history of banking in Indianapolis dates back to the early days of the city, when a private bank was started; but the first chartered bank was the State Bank of Indiana, which was chartered in 1834, with a capital of $1,600,000. The charter was to run twenty-five years and half of the capital stock was to be taken by the State, which raised the money by the sale of bonds. The State's share of the dividends, after paying the bonds, was to go to the establishment of a general school fund, and this was the foundation of the excellent en- dowment of Indiana's public schools. The in- vestment ultimately yielded to the State $3,- 700,000 after the payment of the bank bonds. The main bank and one of its branches were located in Indianapolis, beginning business No- vember 26, 1832. The first president of this bank was Samuel Merrill, with whom were associated Calvin Fletcher, Seaton W. Norris, Robert Mor- rison and Thomas R. Scott as directors. In 184G the bank removed to its new building at Ken- tucky avenue and Illinois street. The Indian- apolis branch was organized with Hervey Bates president and B. F. Morris cashier. After the charter expired, the Bank of the State of Indiana was chartered, the interest of the State being withdrawn, and Hugh McCulloch, who was later secretary of the treasury of the United States became president of the bank, which remained in business, with seventeen branches, until the inauguration of the national banking system
CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
359
when the various branches were merged into dif- ferent national banks in their respective localities. William H. English organized the first national bank that was established in Indianapolis May 11, 1863. It was known as the First National Bank of Indianapolis and was one of the first in the country to operate under the national banking act. The bank facilities of Indianapolis are furnished by six national banks, with re- sources of more than $55,000,000, and nine trust companies, with capital and resources in excess of more than $39,000,000, in addition to State banks, most of which are devoted more especially to investment banking and the loaning of money on mortgages for clients.
Beginning of Trust Companies .- The devel- opment of the trust company business in Indian- apolis and throughout the State has been the most important feature of financial business dur- ing the past twenty years. The law authorizing the establishment of trust companies was passed by the Legislature in 1893, but prior to that time there had been several attempts to secure such a law. Forty years ago a tentative organization was formed for a safety deposit company with
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Indiana Trust Company Building.
35136
Union Trust Company Building.
some trust features, but the Legislature refused to grant the necessary rights, and the matter was dropped. In 1891 several citizens of Indian- apolis, notable among whom were John H. Holli- day and John P. Frenzel, seeing the need of such institutions, presented the matter to the Legis- lature, but without success. At the next session, in 1893, the matter was brought forward again by them, and a fair and substantial law was adopted. So good was it that few changes have been made in it since, only one of which, that permitting the organization of companies in smaller towns with smaller capital stock, has had any particular effect upon the business.
First Trust Companies .- Conditions were ripe in Indianapolis for the organization of two companies immediately, and the establishment of the Indiana Trust Company on April 4, 1893, and the Union Trust Company on May 31, 1893. speedily followed. This was followed by the Marion Trust Company. December 10. 1895. after which time nine others were established. Of these one failed and three have gone out of business by sale or consolidation, leaving nine in the field. Trust companies have also been established in almost every county seat, the prin- cipal towns having more than one.
The great factor in building up the business has been the lack of savings banks. The anti- quated law authorizing such institutions has been prohibitory, and no successful savings bank has been started in more than sixty years. This has left a rich and virgin field which the trust com-
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
Fletcher Savings and Trust Company Building.
panies have occupied, thus satisfying "a long-felt want." This has been recognized and permitted by the authorities, although not specifically au- thorized in the fundamental law. It is safe to say that seventy-five per cent. of the trust com- pany deposits are of this character or such that interest is paid on them. The trust companies, dealing mainly in time money, can afford to do this, and the benefit to the people of the State is incalculable. They are not only encouraged to save money by being provided with ample de- positories and receive interest on it, but the enor- mous amount that is gathered in this way is made available for the uses of business. Indiana se- curities for many years went abroad, but now they are almost entirely absorbed by her own people, whose ability to take them has been greatly enhanced by the existence of trust com- panies. These companies have also proved of great value in their work of trusteeship in its varied necessities, and their use in this line will
increase as wealth accumulates and their great advantages are realized .- John H. Holliday.
Journalism and Publishing .- Indianapolis had a newspaper before it had mail facilities, roads, or even the most primitive means of reg- ular communication with the outside world. There are at present over ninety daily, weekly, bi-monthly, monthly and quarterly publications issued from this city. In class or industrial pub- lications Indianapolis is exceptionally well repre- sented, some of the most influential journals of their kind in the country being published here. In recent years this city has also become prom- inent as a book and music publishing center. In the mechanical and manufacturing branches of the printing business it has kept pace with the largest cities in the country, and it affords ad- vantages in the production of blank books, coupon books, bank and county office supplies not excelled elsewhere. There are several large plants located here engaged in this work, and Indianapolis ranks third in size as a publishing center in this country.
The Indianapolis News, now the oldest daily paper published in Indianapolis, is lo- cated in the ten-story building constructed for its needs, in 1909, by Delavan Smith, one of its owners. The building is on the site of the old News building in Washington street and immediately in front of the News Mechanical building in Court street. The business and editorial offices of the paper are in the new build- ing, while the mant- facturing processes are carried on in the fireproof building
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Indianapolis News Building.
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
constructed for that purpose in 1896. The News was founded by John H. Holliday in 1869, and has had a continuous existence from that date. It was the first two-cent (ten cents weekly) daily paper in the West. Though not an old paper, as compared with other publications in the East, yet its career spans practically the period of de- velopment of the modern newspaper.
The News has had but two owners, its founder and his associates, including Major W. Richards, and the present proprietor, Delavan Smith, with whom was associated for about twenty years Charles R. Williams as editor. Mr. Smith is now the publisher and sole owner. Louis How- land is the editor and Richard Smith the man- aging editor. There are employes in every de- partment who have grown up with it, including the present general manager, Hilton U. Brown, who began as market reporter in 1881.
The Indiana Times was established on May 12, 1888, under the name of The Indianapolis Sun. It is a daily afternoon paper and for a period published a Sunday morning edition.
The Indianapolis Star was established in 1903, first issue appearing on June 6th. Immedi- ately after it was started the Star associated itself with the Muncie Star and the Terre Haute Ex- press, now the Terre Haute Star, the three form- ing the chain of papers known as the Star League. On June 8, 1904, the Star management bought the Indianapolis Journal, its morning. con- temporary, a high-class newspaper established as a weekly in 1823, and as a daily in 1850. The Journal was merged with the Star and some of its best features incorporated in the latter paper. In February, 1906, the Star bought the Sunday Sentinel and combined it with the Sunday Star. Thus the Star became the only Sunday and morning newspaper in Indianapolis. In June, 1907, the Indianapolis Star removed to its present quarters at the northeast corner of Pennsylvania
Indianapolis Star Building.
and New York streets, a building built especially for its use. John C. Shaffer is editor and pub- lisher of the Star, B. F. Lawrence is business manager and Ernest Bross managing editor.
The German Daily Telegraph and Tribune. -Established 1865, is the only German and the oldest daily newspaper published in Indianapolis. It is independent-democratic in politics, and is a member of the Associated Press. It is published by the Gutenberg Co. The Sunday Spottvogel, a humorous and literary paper, established in 1865, is also published by this company. August Tamm is president of the company.
The Indianapolis Commercial .- Published daily by the Central City Publishing Co., makes a specialty of court news, financial matters, etc .. and has a wide and influential circulation. It is considered the standard for newspapers of this class in the United States. Fred L. Purdy is the editor and O. L. Thayer secretary-treasurer.
The Indianapolis Daily Live Stock Journal is devoted to the interests of shippers and is pub- lished at the Union Stock Yards.
Other Publications are numerous, embracing weeklies, semi-monthly and monthly issues. among which are a number of the most influ- ential trade journals in America.
Interior Big Four Railway Shops, Beech Grove.
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( ENTENNIAL HISTORY AND HANDBOOK OF INDIANA
MARSHALL COUNTY
PLYMOUTHI, SEAT OF JUSTICE
M ARSHALL COUNTY lies in the second tier of counties south of the Michigan- Indiana State line. It forms a square with an area of 441 square miles. The principal drainage stream of the county is Yellow river, which flows diagonally across its area from northeast to southwest. The southeastern portion is drained by the Tippecanoe river, which crosses the outlet through Pine creek into the Kankakee. There are a number of picturesque lakes, among them being Maxinkuckee, one of the largest and most beau- tiful in the State.
The surface of the county is composed of gla- cial drift. and when first settled most of it was covered with a fine growth of timber. By the labor of the sturdy pioneers the land has been cleared and drained, so that immense crops of corn, wheat, oats, hay and other products have been produced on the muck lands, which were
formerly considered almost useless. It is bounded on the north by St. Joseph, on the east by Elk- hart and Kosciusko, on the south by Fulton, on the west by Pulaski, Starke and Laporte coun- ties.
Organization .- Marshall county, named after Chief Justice Marshall, was formally organized on April 1, 1836. Plymouth has been the county seat of Marshall county since its beginning.
Population of Marshall county in 1890 was 23,818; in 1900 was 25,119, and according to United States Census of 1910 was 24,175, of which 828 were of white foreign birth. There were 6,057 families in the county and 5,962 dwellings.
Townships, Cities and Towns .- There are ten townships in Marshall county : Bourbon, Center, German, Green, North, Polk, Tippecanoe, Union, Walnut and West. The incorporated
Parade Grounds and Battalion Review, Culver Military Academy, Marshall County.
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
South Barrack, Culver Academy.
cities and towns are Plymouth, Argos, Bourbon, Bremen, Culver and LaPaz. Plymouth is the county seat.
Taxable Property and Polls .- According to the annual report of the Auditor of State from the abstract of the tax duplicate for 1913, the total value of lands and lots in Marshall county was $7,710,705; value of improvements was $2,739,815, and the total net value of taxables was $18,975,070. There were 3,881 polls in the county.
Improved Roads .- There were 105 miles of improved roads in Marshall county built and un- der jurisdiction of the county commissioners January 1, 1915. Amount of gravel road bonds outstanding, $189,426.40.
Railroads-Steam and Electric .- There are 113.24 miles of steam railroad operated in Mar- shall county by the B. & O. & Chicago: Indian- apolis & Michigan City division of the L. E. & W .; New York, Chicago & St. Louis ; Pittsburg, Fort Wayne & Chicago, and the Michigan City division of the Vandalia railroads.
Educational .- According to the report of Louis E. Steinbach, county superintendent of Marshall county, there were 123 schoolhouses, including ten high schools, in Marshall county in 1914. employing 201 teachers. The average daily attendance by pupils was 4,991. The ag- gregate amount paid in salaries to superintend- ents, supervisors, principals and teachers was $97.638.05. The estimated value of school prop- erty was $392,475, and the total amount of in- debtedness, including bonds, was $62,000. In
addition to the above. Marshall county has a Lu- theran school in Bremen, a Catholic academy at Plymouth and Culver Military Academy on Lake Maxinkuckee, at Culver.
Agriculture .- There were in Marshall county in 1910 over 2,800 farms embraced in 268,000 acres. Average acres per farm, 95.3 acres. The value of all farm property was over $22,000,000, showing 75.4 per cent. increase over 1900. The average value of land per acre was $58.76. The total value of domestic animals was over $2,200,- 000: Number of cattle 21,000, valued at $595,- 000: horses 10,000, valued at $1,200,000; hogs 41,000, valued at $280,000; sheep 24,000, valued at $107,000. The total value of poultry was $104,- 000.
Industrial .- According to the report of the State Bureau of Inspection for 1912 there were eight industrial establishments in Plymouth, which furnished employment to 250 persons.
Culver Military Academy. - Culver was founded in 1894 by Henry Harrison Culver, a business man of St. Louis, Missouri, who had come to realize the lack of system, order and im- mediate obedience on the part of the young men whom he took into his employment. The first school opened in a frame building with twenty-
Black Horse Troop and Riding Hall, Culver Military Academy.
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CENTENNIAL HISTORY AND HANDBOOK OF INDIANA
2
Cutter Race on Lake Maxinkuckee by Culver Naval School.
five pupils. This building was destroyed by fire, but was replaced with a fireproof brick barracks, which was opened in 1895. The following year, after the military academy at Mexico, Missouri, had burned. Mr. Culver succeeded in effecting a combination of the Indiana and Missouri schools under the management of Colonel A. F. Fleet, the founder of the Missouri Academy. Under his superintendency, the Culver Military Academy acquired an enrolment of nearly seven hundred cadets and achieved high rank as a mili- tary school. Colonel Fleet retired as superin- tendent in 1910, and was succeeded by Major Leigh R. Gignilliat, who had been commandant of cadets at Culver from 1896. Mr. Culver, the founder, dying in 1897, members of his family since that time have greatly strengthened the in- stitution and beautified the grounds. Five bar- racks, for cadets, a gymnasium, riding hall, hospi-
- tal, administration building, class rooms and lab- oratories, and a magnificent mess hall and kitchen, which Governor Marshall helped to dedicate in 1911, constitute the material equipment of the school. The academy is a member of the North Central Association of Schools and Colleges. The entire routine of the school is ordered closely on the lines followed at West Point. One of the favorite features of the work at Culver has been the cavalry drill and the Culver Black Horse Troop has made a reputation for horsemanship that has traveled beyond the United States. After President Mckinley was inaugurated in 1896, the black horses used by his Ohio escort were sold to the Culver Academy and have al- ways been replaced from time to time .* Dur- ing the inauguration of President Wilson and Vice-President Marshall, the Culver Black Horse Troop acted as personal escort to Mr. Marshall. The Culver Summer Naval School was estab- lished in 1902, with a session of eight weeks in which naval drills supplant the infantry drills of the winter school. The United States Navy De- partment supplies ten- and twelve-oar cutters for the use of the school. The instructions are under an Annapolis graduate and an act of the Legislature has also authorized the mustering in each summer of the cadets as the First Bat- talion of the Indiana Naval Militia. In 1912, a school of woodcraft was added to the Culver program with Daniel Carter Beard, founder of the Boy Scouts of America and chief scout com- missioner, in charge of this department. The Culver Military Academy is located on the north shore of Maxinkuckee, overlooking Aubbenaub- bee Bay.
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