USA > Indiana > Johnson County > History of Johnson County, Indiana > Part 40
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Time certificates of deposit
69,469.62
United States deposits
10,000.00
Postal savings deposits
416.35
Total
$584,290.03
The Union Trust Company of Franklin was incorporated May 13, 1912,
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JOHNSON COUNTY, INDIANA.
with a capital stock of $30,000, fully paid up. This institution is the suc- cessor to the real estate and insurance business of Wilson & Henderson, who have for a long time been engaged in that business at their present location. The Union Trust Company began business June 1, 1912, with the fol- lowing officers : Samuel A. Wilson, president ; S. M. George, vice-president ; Charles B. Henderson, secretary-treasurer. The directors are M. J. Voris. S. M. George. F. F. Smith, Clarence Province, Samuel A. Wilson and Charles B. Henderson.
The condensed statement of the condition of the Union Trust Company at the close of its business on October 21, 1913, was as follows :
$43.332.15
4,000.00
936.29
1,306.73
9,524.84 827.97
2,308.07
$62.289.07
$30,000.00
444.87
3.994.50 6.375.28 3.032.50 12,993.47
5,448.45
$62.289.07
The Farmers' Trust Company was organized May 28. 1912, with a
capital stock of $40,000, of which $34,000 is fully paid up. Shortly after incorporation they became the owners of the Wyrick block, at the southeast corner of Water and Jefferson streets, and erected a new building thereon,
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RESOURCES.
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Furniture and fixtures
Due from departments
Due from banks and trust companies.
Cash on hand
Current expenses
Total
Capital stock-paid in
Undivided profits-net
Interest. discount and other earnings
Demand deposits, except banks
Time deposits. except banks
Trust deposits. except banks
Special deposits, except banks
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LIABILITIES.
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Loans and discounts
Overdrafts
Premiums paid on business.
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Total
398
53.02
399
occupying the corner room as a banking room. The original officers were
L. B. Clore, president; Robert A. Brown, secretary-treasurer, and L. A.
completed its first year of operations. Mr. Clore resigned at the end of the
first year to become county agricultural agent for La Porte county and E. P.
Ervin was elected to succeed him. Merritt Blizzard, formerly of the Frank-
lin National Bank, has been since October 1, 1913, bookkeeper.
The condensed statement of the condition of the Farmers' Trust Com- pany at the close of its business on October 21, 1913. was as follows :
$111.295.49
14.947.29
2.884.64
388.83
9.407.02
5.347.10 285.04
9.80
351.55
$144.997.79
$ 34,000.00
146.95
57,424.15 45,995.61
7.352.15
28.93
$144.997.79
4,750.00
12.00
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LIABILITIES.
Total
Capital stock-paid in
Interest, discount and other earnings
Demand deposits, except banks
Time deposits, except banks.
Trust deposits, except banks.
Savings deposits, except banks
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RESOURCES.
Loans and discounts
Overdrafts
Company's building
Advances to real estates and trusts. Furniture and fixtures
Due from banks and trust companies
Cash on hand
Cash items
Taxes and interest paid.
Current expenses
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Total
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Premium received on bonds issued Total liabilities on surety bonds.
JOHNSON COUNTY, INDIANA.
Young, assistant secretary. The trust company was delayed by reason of its
building operations in opening its doors until October 18, 1912, and has just
81.03
50.00 ·
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:400
JOHNSON COUNTY, INDIANA.
EDENBURG.
The Lewis Bank, at Edinburg, established in 1868, by Harvey Lewis, was the first bank started in that town. The venture was unsuccessful and the bank closed its doors in 1872.
The private bank of John A. Thompson began business in 1874, and until the death of the owner, in 1886, was successful and influential. After his death the bank suffered reverses, and in September, 1896, a receiver was appointed by the Johnson circuit court to wind up its affairs. Martin Cut- singer acted as receiver, and the trust was satisfactorily administered, every creditor being paid in full.
A. C. Thompson & Co., Bankers, began business in Edinburg in 1870 as a private bank. It was founded by A. C. Thompson and E. C. Thompson, and was at once successful. In 1875 John A. Thompson, Jr., was admitted to the firm. On the death of the father, in January, 1889, the business was continued under the same name by the brothers. On December 19, 1902, E. C. Thompson died, his interests passing to his brother, John A. Thompson, and a sister, Hannah E. McEwen. On July 1, 1905, the bank was reor- ganized under the act of 1905, under the name The Thompson Bank, with the following officers: John A. Thompson, president; A. J. Loughery, cashier, and F. D. Thompson, assistant cashier. Mr. Loughery came into the bank in 1890. Its statement of date August 9, 1913, is as follows :
RESOURCES.
Loans and discounts
$321,269.18
Overdrafts
88.51
Other bonds and securities
4.776.15
Due from banks and trust companies
72,173.40
Cash on hand
13,554.62
Current expenses
460.34
Total
$412,322.20
LIABILITIES.
Capital stock-paid in
$ 50,000.00
Undivided profits
1,000.00
Demand deposits
312,871.26
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JOHNSON COUNTY, INDIANA.
401
Demand certificates
13,417.93
Time certificates
28,938.61
Certified checks
5,025.51
Exchange discounts, etc.
1,425.43
Total
$412,322.20
GREEN WOOD.
The First National Bank of Greenwood had its inception in the Green- wood Banking Company, a private bank, organized July 15, 1893, by ten shareholders, all equally interested. Among them were Grafton Johnson, J. T. Polk, John A. Polk, Harvey Brewer, C. B. Cook and Grafton Peek. Later eight of the shareholders retired, leaving Grafton Johnson and J. Albert Johnson sole proprietors.
In 1906 the business had grown until the needs of the community re- quired a national bank, and it was reorganized under the name it now bears. The capital stock was $25,000. Grafton Johnson became president and J. Albert Johnson, vice-president, and their successful management has made it the leading bank in the north end of the county. Its financial statement is as follows :
RESOURCES.
Loans and discounts
$181,348.81
Overdrafts, secured and unsecured 1 1
551.03
U. S. bonds to secure circulation
25,000.00
Other bonds to secure postal savings
1,000.00
Bonds, securities, etc.
13,320.00 Banking house, furniture and fixtures.
1,055.65
Due from national banks (not reserve agents)
3,610.80
Due from state and private banks.and bankers, trust companies and savings banks 10, 192.34
Due from approved reserve agents.
102,070.95
Checks and other cash items. 11,999.37 Notes of other national banks 205.00
Fractional paper currency, nickels and cents
74.75
(26)
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402
JOHNSON COUNTY, INDIANA.
Lawful money reserve in bank, viz :
Specie
9,964.00
Legal-tender notes
2,300.00
Redemption fund with U. S. treasurer (5 per cent. circulation) _. 1,250.00
Total
$363,942.70
LIABILITIES.
Capital stock-paid in $ 25,000.00
Surplus fund
30,000.00
Undivided profits, less expenses and taxes paid. 4,077.24 1
National bank notes outstanding
24,095.00
Due to other national banks. 12,536.64 1
Due to state and private banks and bankers.
11,259.83
Individual deposits subject to check. I
201,207.41
Demand certificates of deposit
35,052.71
Time certificates of deposit.
20,000.00
Postal savings deposits
113.47
Reserved for taxes
600.40
Total
$363,942.70
The Citizens' National Bank of Greenwood was chartered October 31, 1906, with a capital stock of $25,000, and the following official body: Har- vey Brewer, president ; Camillus B. Cook, vice-president, and William Adcock. cashier. The presidency has been made vacant by the death of Mr. Brewer. October 2, 1913. Mr. Cook died on December 5, 1910, and his place has been filled by the election of David E. Demott. Its current report is as fol- lows :
RESOURCES.
Loans and discounts
$119,654.57
Overdrafts, secured and unsecured
759-33
U. S. bonds to secure circulation
25.000.00
Other bonds to secure postal savings.
2,000.00
Premiums on U. S. bonds
200.00
Bonds, securities, etc.
2,620.00
Banking house, furniture and fixtures.
1.822.17
Due from national banks (not reserve agents)
14.075.45
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JOHNSON COUNTY, INDIANA. 403
Due from approved reserve agents.
26,831.90
Checks and other cash items
. 925.88
Notes of other national banks.
2,400.00
Fractional paper currency, nickels and cents Lawful money reserve in bank, viz :
79.78
Specie
4,909.75
Legal-tender notes
4,800.00
Redemption fund with U. S. treasurer (5 per cent. circulation) __
1,250.00
Total
$206,828.83
LIABILITIES.
Capital stock paid in
1 $ 25,000.00
Surplus fund
15,000.00
Undivided profits, less expenses and taxes paid.
1,402.43
National bank notes outstanding. 1 1
25,000.00
Due to other national banks
934.09
Individual deposits subject to check.
109,756.03
Demand certificates of deposit
29,364.88
Postal savings deposits
371.40
Total
$206,828.83
WHITELAND.
The Whiteland National Bank was organized April 14, 1909, with a capital stock of $25,000. Its officers were Samuel E. Brewer, president; M. J. Tracy, vice-president, and C. M. Durham, cashier. Since Mr. Tracy's death, Scott Curry has been vice-president.
The report of the condition of the Whiteland National Bank at the close of business October 21, 1913, was as follows:
RESOURCES.
Loans and discounts
$ 71,071.87
Overdrafts, secured and unsecured
939.03
U. S. bonds to secure circulation
25,000.00
Other bonds to secure postal savings.
500.00
Bonds, securities, etc.
500.76
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404
JOHNSON COUNTY, INDIANA.
Banking house, furniture and fixtures
4,937.49
.. Due from national banks (not reserve agents) 1
36.64
· Due from approved reserve agents 8,877.02
Notes of other national banks.
500.00
Fractional paper currency, nickels and cents
250.19
Lawful money reserve in bank, viz :
Specie
$2,911.55
Legal-tender notes
1,950.00
4,861.55
Redemption fund with U. S. treasurer (5 per cent. of circulation) I 50.00
Total
$117.624.55 ,
LIABILITIES.
Capital stock paid in
$ 25,000.00
Surplus fund
2,700.00
Undivided profits, less expenses and taxes paid. 1
1,130.37
National bank notes outstanding
23,895.00
Individual deposits subject to check
53,952.36
Time certificates of deposit.
7,946.82
Notes and bills rediscounted
3,000.00
Total
$117,624.55
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TRAFALGAR.
The Farmers' National Bank of Trafalgar, Indiana, was organized Sep- tember, 1904, with twenty stockholders and nine directors, consisting of R. Day Willan, John W. Garshwiler, Nathan Smith, J. J. Moore, Harrison Paskins, W. R. Willan, E. B. Willan, Frank Hellerick and Robert McFadden. Officers : R. Day Willan, president : Frank Hellerick, vice-president; A. C. Brock, cashier.
The building was erected by George Anderson and completed in time to open for business April 15, 1905. The opening day twenty thousand was received on deposit, which have had a gradual growth since.
The board has always retained its number of nine, but after a little over a year's service Dr. E. B. Willan sold his interest and his place was filled by C. E. Willan, who is still a member. After three years' service W. R. Willan sold his stock and his place was filled by Harry Garshwiler ( still a member of
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JOHNSON COUNTY, INDIANA.
the board). Frank Hellerick having moved away and established himself permanently in business in Philadelphia, W. D. Terhune was elected in his place on the board and John W. Garshwiler was made vice-president and still holds that office. After two years' service Mr. Terhune was succeeded by H. A. Shank, who is on the present board. J. J. Moore served until his death and was succeeded by his son, F. F. Moore, also on the present board. Robert McFadden served on the board until his death, and was succeeded by J. O. Wilkes, a member of the present board.
The president and cashier have never been changed-only the vice-presi- dent. The present board, as changes show, consists of R. Day Willan, John W. Garshwiler, Nathan Smith, Harrison Paskins, Harry Gashwiler, C. E. Willan, F. F. Moore, H. A. Shank and J. O. Wilkes.
The bank has paid their stockholders six per cent. above taxes ever since they started and have built up their surplus and undivided profits to their present showing. The report of the condition of the Farmers' National Bank at Trafalgar at the close of business October 21, 1913. was as follows :
RESOURCES.
Loans and discounts
$ 84,963.17
Overdrafts, secured and unsecured
80.62
U. S. bonds to secure circulation 6,250.00 1 1 1 1
U. S. bonds on hand. 16,000.00 1 I 1 1 1 1 1 1
1 Due from national banks (not reserve agents) 4.12 1 1 1 1 1 1 1 I 1 1
Due from approved reserve agents
9,638.09
Checks and other cash items.
123.82
Notes of other national banks. 915.00 1
Fractional paper currency, nickels and cents
118.16
Lawful money reserve in bank, viz:
Specie $2,869.00
Legal-tender notes
1,000.00
Redemption fund with U. S. treasurer (5 per cent. of circulation)
312.50
Total
$128.474.48
Banking house, furniture and fixtures
6,200.00
LIABILITIES.
Capital stock paid in
$ 25,000.00
Surplus fund
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406
Undivided profits, less expenses and taxes paid. National bank notes outstanding_ Individual deposits subject to check.
Time certificates of deposit.
Notes and bills rediscounted
Total
The Farmers' State Bank at Bargersville was chartered April 15, 1909, with a capital stock of $25,000. Its officers are William H. Paddock, presi -. dent; E. H. Pottenger, vice-president, and E. H. Connell, cashier. Its report of date October 21, 1913, shows a healthy condition :
$ 91,875.06
7,554.75
4,670.00
2,100.00
6,045.20
3,470.23
32.00
$115,983.55
$ 25,000.00
3,000.00
1,000.00
377.70
73,962.91 12,642.94
$115,983.55
Total
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5,718.34
6,250.00
54,737.88
6,738.26 16,000.00 10,000.00
$128,474.48
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Other bonds and securities
Banking house
Furniture and fixtures
Due from banks and trust companies
Cash on hand
Cash items
Total
Capital stock paid. in
Surplus
Undivided profits
Exchange, discounts and interest.
Demand deposits
Demand certificates
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BARGERSVILLE.
Loans and discounts
Overdrafts
RESOURCES.
LIABILITIES.
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236.31
JOHNSON COUNTY, INDIANA.
Bonds borrowed
:
JOHNSON COUNTY, INDIANA.
407
BUILDING AND LOAN ASSOCIATIONS.
The Mutual Building and Loan Association of Franklin was incorporated on the 11th day of February, 1890, the original subscribers to the stock being W. B. McCollough, W. H. Younce, R. A. Alexander, A. A. Blizzard, W. A. McNaughton, E. C. Miller, J. N. Dooley, Samuel Harris, Frank F. Smith, Joseph A. Schmith, S. C. Brown, W. S. Young and C. A. Overstreet. The association has had a prosperous existence and has helped hundreds in this community to acquire homes and to establish the habit of saving the small sums. W. H. Younce has been the president since its organization; E. C. Miller, the treasurer, with the exception of one year, when the office was filled by Victor Smith. Only three secretaries have served the stock- holders, S. Cal. Brown, William S. Young and Martin Sellers, Mr. Young having served prior to February, 1911, for nearly twenty years. W. T. Pritchard was the attorney of the association until his death, when he was succeeded by Thomas Williams. Its financial condition is best shown by its last annual report :
RECEIPTS.
Cash on hand December 31, 1911
$ 9,881.14
Dues on running stock
53,774-55
Loans on mortgage security repaid
17,575.00
Loans on stock or pass book security repaid.
I 1 1 1 6,468.50
Interest
13,613.92
Membership fees
332.25
Transfer fees
46.25
Borrowed money
4,000.00
Real estate
9,885.00
Refunder insurance and taxes
64.77
Total
$115.641.38
DISBURSEMENTS.
Loans on mortgage security
$ 30,875.00
Loans on pass book or stock security.
4,393.00
Withdrawals of running stock and dividends
17,304.41
1 Matured stock and dividends 39,664.49 1 1
Expenses, as per schedule.
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408
JOHNSON COUNTY, INDIANA.
Borrowed money repaid
4,000.00
Interest on borrowed money
180.15
Insurance and taxes paid for borrower
142.18
Real estate
4,225.00
Salaries
420.00
Total
$115.641.38
ASSETS.
Cash on hand December 31, 1912.
14,089.70
Loans on mortgage security
I 30,902.57
Loans on stock or pass book security
3,435.00
Furniture and fixtures
287.25
Real estate
39,458.82
Due for insurance and taxes
693.48
Total
$188,866.82
LIABILITIES.
Dues and dividends on running stock.
$181,791.92
Fund for contingent losses.
859.08.
Undivided profits 6.215.82
Total
$188.866.82
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The Franklin Building and Loan Association was organized January 16, 1895, by the following subscribers to the stock: W. H. Coons, Samuel Harris, John W. Ragsdale, R. C. Wood, Strather Herod, Charles Byfield, D. H. Miller, George W. Clemmer, Edward F. White, David Swift, T. W. Woollen, S. A. Wilson, S. B. Eccles and Dr. P. W. Payne. Dr. D. H. Miller became president and remained in office until his death, when he was suc- ceeded by James R. Fleming ; Samuel A. Wilson has acted as secretary during almost the whole of the life of the organization.
The following is a statement of the financial condition of the Franklin Building and Loan Association at the close of the fiscal year, ending Decem- ber 31, 1912:
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409
8,767.37
76, 112.00
577.00
90.00
11,101.00
$ 96.647.37
$ 95,969.90
200.00
357.86
119.61
$ 96.647.37
$
28,916.50
100.00
17.770.00
445.00
5.855.96
154.75
3.000.00 4,600.00
64.00
$ 70,388.81
$ 21,630.00
752.00
10,532.58 5,600.00
14,938.54
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JOHNSON COUNTY, INDIANA.
ASSETS.
Cash on hand December 31, 1912 Loans on mortgage security. Loans on stock or pass book security Furniture and fixtures
Real estate -- actual value (sold on bond)
Total
Dues and dividends on running stock. Paid up and prepaid stock and dividends
Fund for contingent losses
Undivided profits
Total
Cash on hand December 31. 1911. Dues on running stock.
Paid up and prepaid stock.
Loans on mortgage security repaid.
Loans on stock or pass book security repaid
Membership fees Interest
Borrowed money
Real estate
Transfer fees
Total
Loans on mortgage security
Loans on stock or pass book security_ Withdrawals of running stock and dividends
Withdrawals paid up
Matured stock
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DISBURSEMENTS.
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LIABILITIES.
$
1
9,482.60
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410
JOHNSON COUNTY, INDIANA.
Dividends on paid up stock
90.06
Expenses, as per schedule.
277.50
Borrowed money repaid
3,000.00
Interest on borrowed money
25.28
Insurance
5.00
Real estate
4,766.00
Interest refunded
4.48
Cash on hand December 31, 1912
8,767.37
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$ 70,388.81
A private bank was organized at Greenwood by Dwiggins, Starbuck & Company in the early nineties, under the name of the Bank of Greenwood. Ex-Governor Chase allowed the management the use of his name as an officer, and when the institution became insolvent, in 1893, some adverse criticism was directed toward Governor Chase. On application to the Johnson circuit court, Grafton Johnson was appointed receiver May 12, 1893. The final report of the receiver showed assets of $27,669.76, and liabilities amounting to $37,958.16.
The Farmers National Bank of Edinburg has a capital stock of $25,000, and has been running about seven years. Its officers are Dr. J. T. Middleton, president; Eliza Breeding, vice-president; William H. Breeding, cashier, and John F. Drybread. Its cashier is a modest gentleman, who dislikes to see his name in print, and refused the writer information necessary to further notice.
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CHAPTER XIII.
JOURNALISM IN JOHNSON COUNTY.
In the outset, the local historian in attempting a sketch of the journalism of the county is confronted with the fact that scarcely any of the files of the local papers have been preserved. Editors have thought so little of the value of their papers as chronicles of local current events that no efforts were made, as a rule, to preserve the files and the back numbers soon found their way to the junk pile. Evidence is at hand that Judge Banta had access to the files of The Franklin Examiner, but the writer has tried without success to locate where they are now preserved. A careful inquiry has revealed that none of the newspapers prior to the entrance of Luther Short and Robert A. Brown into the field of local journalism have been properly preserved. Mr. Short and Mr. Brown did keep and bind their files, and they remain the most val- uable sources of information to the writer of local history.
The law makes provision for the county recorder to keep a file of all local newspapers, and the county commissioners should at once take action to rem- edy so far as possible the carelessness of other days. And it will be the duty of the Franklin Public Library, recently organized, to make an effort to collect and preserve these sources of local history. A Johnson County Historical Society could do a distinct public service in collecting scattered copies of such papers, with such letters and diaries as have escaped the waste basket and the junk heap.
Prior to the year 1845 all legal publications were given in newspapers of the capital city or of one of the surrounding countjes, whenever notice by publication in newspaper was required. However, an inspection of the pro- bate records during the twenties and thirties discloses that knowledge of no- tices required by law were given by posting of notices in public places and it was very seldom that the court required notice to be given by newspaper pub- lication.
The first newspaper mentioned in our records was The Western Censor, of Indianapolis, a notice to non-residents having been given by publication in that paper in the year 1825.
The Indiana Journal, also published at Indianapolis, was the medium of notice to non-residents as early as 1831.
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JOHNSON COUNTY, INDIANA.
John R. Kerr, remembered as the "blind printer," of Franklin, came to Johnson county from the state of Tennessee in 1839 and entered a tract of land near Sugar Creek. He had been a school teacher in his native state, but for years his eyes had given him trouble and in 1842 he became totally blind. He had also learned the printer's trade back in Tennessee, and in 1845 con- cluded to start a newspaper in the town of Franklin. On December 13, 1845, The Franklin Examiner, the first newspaper printed and published in John- son county; was issued from a local press by Mr. Kerr as editor. The Exam- iner was a small local sheet, made up largely of clippings from other publi- cations, but in that day reading matter was scarce, the schools were inefficient and this newspaper was eagerly sought in the schoolrooms and in the homes of the county.
Mr. Kerr sold the paper in 1852 to Jonathan Williams, who was then auditor of the county. Mr. Kerr then removed to Gosport, where he and his cousin, ifrank Kerr. published the Gasport Chronotype. In 1854 he became postmaster of Gosport and remained in office until the third year of Grant's term. He died in that town in the year 1880.
When Jonathan H. Williams became the owner of The Examiner, the name was changed to The Franklin Jeffersonian, and became Democratic in politics. Two years later George W. Allison purchased the paper and on January 1, 1857, his brother. Harvey W. Allison, became part owner. The Jeffersonian continued to be the mouthpiece of the Democratic party in John- son county, but it was never a pro-slavery organ. When the lines became closely drawn between the Southern Democracy and the Douglas Democrats, The Jeffersonian became the organ of the Douglas Democrats in the county and so remained until the breaking out of the Civil war. In the meantime George W. Allison had become auditor of the county and his brother became the active manager of the newspaper.
In 1861 George W. Allison raised a company of soldiers for the Seven- teenth Indiana Regiment and entered the Union service. This left Harvey C. Allison in entire control of the paper, as editor and manager, and the same thenceforth became a Republican newspaper. The Allisons continued in the ownership and control of The Jeffersonian until July 1, 1882, when John F. Moses became the proprietor. Inasmuch as the name was at that time some- what misleading, Mr. Moses determined to change the name and it was thence- forth known as The Franklin Republican. Moses remained in Franklin until October, 1882, when his paper was sold to Henry Holt, who continued to successfully manage the paper until 1886. For some time the paper had been
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