USA > Indiana > Lawrence County > History of Lawrence and Monroe counties, Indiana : their people, industries, and institutions > Part 18
USA > Indiana > Monroe County > History of Lawrence and Monroe counties, Indiana : their people, industries, and institutions > Part 18
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LAWRENCE AND MONROE COUNTIES, INDIANA.
BANKING ESTABLISHMENTS.
Bedford is one of the oldest banking towns in the state. When the Bedford branch of the State Bank of Indiana was organized in 1834, twelve banks were to be established in as many districts. The eighth district was composed of the counties of Orange, Lawrence, Monroe, Morgan, Martin and Greene. After great rivalry the branch was located at Bedford, largely for the reason of its central location. The bank was chartered for twenty- five years, and the capital was furnished, one-half by the state and one-half by individual stockholders. The state directors of the Bedford Branch were Moses Fell, William McLane and Pleasant Parks, and its first officers were, William McLane, president; D. R. Dunihue, cashier, and John Brown, clerk. The second president was John Vestal, and in 1848, Mr. Dunihue was suc- ceeded as cashier by Isaac Rector. At one time there were over one hun- dred stockholders in this bank, several residing outside the county of Law- rence. Among the leading stcokholders at first were William McLane, Moses Fell, John Vestal, Joseph Rawlins, David and Matthew Borland, M. A. Malott and John Inman, John Bowland, William Fish, G. G. Dunn, A. H. Dunihue. At one date in 1838 there were upwards of three hundred bor- rowers at this bank. The liabilities of the directors as drawers were $38,200; number of stockholders holding under $500, twenty-five; number holding from $500 to $5,000, twenty ; number holding over $5,000, one. On Decem- ber 14, 1839. there was in this bank specie to the amount of $63,677.88, and August 24th of the same year there was $100,590.96. This banking concern did a great deal for Lawrence county and Bedford in those early days. Its loans were extremely large in the fall and winter to pork and grain dealers. Its circulation exceeded $100,000 considerably, and the individual deposits at times were even much greater than this amount. Its affairs were wound up in 1854 and from its effects came the organization of the old Bank of the State of Indiana, founded at Bedford with a capital of $150,000. D. Rick- etts was president and G. A. Thornton, cashier. It did a flourishing business, with many stockholders, and its issues were always received par value. In 1865, M. A. Malott became president and W. C. Winstandley, cashier. Un- der 'this management the bank was conducted until the spring of 1871, when its long career was honorably brought to a close and the issues all retired. In October, that year, the Bedford National Bank was organized with a capi- tal of $100,000, and M. A. Malott was president and W. C. Winstandley, cashier. This organization began with large deposits and continued to grow. At the death of Mr. M. A. Malott in the autumn of 1875, W. C. Winstandley
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became president, and T. H. Malott, cashier. Succeeding this bank came the private bank called the Bedford Bank, whose stockholders were W. C. Winstandley, Mrs. Elizabeth Malott, Mrs. Elizabeth Gardner, Mrs. Mary H. Duncan, T. H. Malott, N. F. Malott and John E. Malott. In 1884 this was the only bank in the city of Bedford and was doing an extensive business for those days.
A private bank was conducted between 1857 and 1865, by Isaac Rector. It finally failed, and it is said that many in the community lost considerable by his failure.
The Indiana National Bank was organized by Thomas Marshall and others, about 1880, but was absorbed by the Bedford Bank shortly after its organization and liquidated.
The present (1913) banking concerns of Bedford are as follows :
THE BEDFORD NATIONAL BANK.
This banking house was organized in May, 1899, and its location is on the corner of Sixteenth and I streets, Bedford. It was organized by John R. Walsh, J. J. Brooks, Vinson V. Williams, Thomas O. Daggy and George W. McDaniel. Its first president was John R. Walsh; Dr. W. H. Smith, vice-president ; Thomas O. Daggy, cashier ; William Erwin, assistant cashier. and has a present surplus of $20,000. Its recent deposits amount to $380,000. The bank's first capital was $50,000, but it has been increased to $100,000. It owns its own bank building, worth $25,000. Its charter from the United States is dated in 1899. The present officers are as follows: Thomas J. Brooks, president; George W. Hay, vice-president; W. A. Brown, cashier.
This institution has always been looked upon as one of the solid banks of southern Indiana, and its officers and stockholders have from the first been among the best class of citizens in the county and commonwealth. Its methods of transacting business are correct and the people have all confidence in the men at the various desks. To be a depositor in this bank is to be safe and secure.
THE CITIZENS NATIONAL BANK.
The Citizens National Bank, of Bedford, was organized in 1891, as a state bank, by A. C. Voris, S. B. Voris, W. H. Martin, F. D. Norton and John Haase. In 1898 it was converted into a national bank. Its first capital was $50,000. but it is now working under a capital of $100,000. Its surplus in the autumn'of 1913 was $20,000; undivided profits, $20,000; deposits, $550,000.
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The present ( 1913) officers of this solid banking institution are as fol- lows: J. R. Voris, president; H. G. Alderhagen, cashier. The original officers of the bank were, A. C. Voris, president, and J. R. Voris, cashier. In the twenty-two years that this concern has been doing business in the county it has opened thousands of accounts and received and paid out mil- lions of dollars over its counters. It has come through the financial storms of the country, when others failed, but this bank has always met its obliga- tions to the people who have from time to time deposited their money there. The gentlemen who have been at the head of it have all been men of good business judgment and have looked well to the interests of their patrons.
THE CITIZENS TRUST COMPANY OF BEDFORD.
This banking institution was organized in March, 1900, with a capital of $25,000, and has been increased to $35,000. It now has a surplus of $15,000, with deposits amounting to $300,000. It was organized by A. C. Voris, William M. Mathews, Michael N. Messick, I. N. Glover, Harry M. Voris, Edward K. Dye and John W. Cossner. The first officers were: A. C. Voris, president ; M. N. Messick, vice-president; I. N. Glover, cashier. The officers today are: William H. Martin, president ; Charles H. Emery, vice-president ; E. E. Farmer, secretary and treasurer.
The statement of this concern in August, 1913, showed resources amounting to $373.643, with liabilities the same amount. Of the resources exhibited in this statement, there were the items of $285,034 as loans and discounts : bonds and stocks, $21,440; bonds to secure postal savings de- posits, $7,000. In the list of liabilities there appears the items of undivided profits, $1.954: surplus, $15,000; interest, discount and other earnings, $11,464.
THE STONE CITY BANK.
The Stone City Bank, of Bedford, was organized in 1890 with a capital of $25,000. which has been increased to $75,000, with a surplus of $13,227, with deposits of $350,000. The first officers and organizers were: J. M. Andrews, president; I. N. Glover, cashier; T. V. Thornton, vice-president ; H. E. Wells, John W. Cosner, W. A. Webb, E. D. Pearson, J. Y. Bates, M. N. Messick, George W. McDaniel, V. V. Williams.
The bank erected a building of its own in 1893, in which they still operate their extensive banking business.
The present ( 1913) officers are: W. E. McCormick, president: Will-
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iam Turley, vice-president; Henry D. Martin, cashier; H. E. McCormick, assistant cashier. The board of directors are W. E. McCormick, William Turley. Dr. J. T. Freeland, H. D. Martin, S. L. Keach, Frank W. Holland and C. H. Cobb.
Their recent statement shows items in the table of resources as follows : Loans and discounts, $265,437; overdrafts, $3,135; cash on hand, $26,333, while in the list of liabilities are these items: Capital stock, $75,000 ; surplus, $10,766; undivided profits, $2,461 ; demand deposits, $328,831, making a total of $419,501 for the resources, with the same in the column of liabili- ties, all showing an excellent banking business, handled by men of sound business principles, having the confidence of the community in which they operate a first class, modern bank.
MUNICIPAL HISTORY OF BEDFORD.
Before Bedford was ruled under a "city" government, which was not until 1889, it was a town incorporation for many years. On June 10, 1864, the Lawrence county commissioners were petitioned to order an election to settle the question whether the place should be incorporated or not. The proposed "town of Bedford" was to comprise one thousand four hundred and forty acres. The day of election was fixed as June 29, 1864, and on that day there were one hundred and twenty-two votes cast in favor of in- corporation and only fourteen against the measure, whereupon on Septem- ber 8, 1864, the county board duly declared Bedford to be an incorporated town. The first officers were M. N. Messick, D. W. Parker and J. D. Thomp- son, trustees; John M. Stalker, clerk; Levi H. Dale, marshal; A. H. Duni- hue, treasurer. J. D. Thompson, trustee, immediately resigned and was suc- ceeded by A. C. Glover, and J. M. Stalker, clerk, having resigned, was suc- ceeded by H. F. Braxton. The first acts of the new board of trustees was to formulate a set of ordinances, which consumed several weeks' time. E. D. Pearson was appointed town attorney. The question of granting a liquor seller's license was up before the trustees, who submitted to Judge Bicknell, of the circuit court, that they had not that right. The records show that the receipts and expenditures in the new town of Bedford from October 28. 1864, to April 22, 1865, were as follows: Receipts-Liquor license, $150.00; peddler's license, $17.00; gymnastic performers, $4.00; total. $171.00. The expenditures were-Printing. $31.95; copying ordinances, $34.00; liquor license refunded, $50.00; cash to balance, $55.05, making the account to foot and balance. $171.00.
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LAWRENCE AND MONROE COUNTIES, INDIANA.
The municipal government was in abeyance from 1866 to September, 1869, and was then revived by the election of the following officers: Alex- ander H. Dunihue, James C. Carlton and E. D. Pearson, trustee; M. N. Messick, clerk and treasurer ; Erastus Ikerd, marshal. A new and complete code of ordinances were then made. Newton Crook having been chosen town attorney. One of the early acts of this board was to issue ten thou- sand dollars in school bonds to tide over the school fund, which was then insufficient to complete the building under course of erection. Four lamps were erected to illuminate the public square. Numerous streets and side- walks were immediately ordered built. Seven dollars and fifty cents were paid for a corporation seal.
Steps were taken in May, 1870. to macadamize the streets surrounding the public squire. Hall and Harrison's bids of thirty-seven and a half cents per cubic yard for the grading part were accepted : then the matter of mac- adamizing fifty feet wide, at three dollars and twenty cents per lineal foot ; guttering, at thirty cents per lineal foot : depth of work, six inches.
ENGINEER'S REPORT.
R. H. Carlton, the engineer in charge, made this report in January, 1871 : Grading 1.722 yards, at thirty-seven and a half cents, $645.75; guttering 2,017 feet, at thirty cents, $605.10; macadamizing 1.516 feet, at $3.20 $4,851.10; high street culvert. $93.15: curbing Sycamore street, $10.00; change in grade, $1.00: total. $6,206.20.
Of the above amount, the town paid $800.23 and Lawrence county, $2,453.76; the New Albany railroad paid $754 and the remainder was paid by owners of realty. The largest single individual payment was by Dr. W. A. Foote. $126.56.
In March, 1873. Winstandley & Malott were allowed to put in a set of Fairbanks scales on the public square.
The same season, a metaled pavement was ordered built on the east side of the square, fronting lots 1, 2, 3 and 4. the pavement to be ten feet wide. D. C. Campbell contracted to fence the cemetery for $70.50, Samuel Bristow furnishing the posts at $185.38. The Messick pond was ordered surveyed and drained in the general cleaning up made in fear of the appearance of cholera. The contract for building a sewer or drain, with twelve-inch hard clay pipe, was awarded to Jennings Larter for twenty-nine cents a cubic yard.
November 5. 1877. a series of resolutions was passed by the town
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board, deploring the death of Hon. Oliver P. Morton, in which his public career was greatly extolled.
In 1878 the liquor license was fixed at $600.
In December, 1879, the Bedford Light Guards assumed the responsibil- ity of a hook and ladder company, and steps were taken to provide them with the necessary fire-fighting apparatus. They were organized and ac- cepted by the town board as the Fire Company of Bedford, in April. 1881.
In 1882 the board appropriated sixty dollars to erect a monument to the memory of George Carney, who was murdered while serving as marshal.
In 1884, upon petition from more than one-third of the voters, the question of making the "town" the "city of Bedford" was submitted to the people. John W. Marshall was the census taker on this occasion, and found that the place had a population of 2,451, hence an election was called for on May 12, 1884. That same year four large cisterns were ordered constructed for the streets, each to contain a capacity of five hundred barrels. These were to be located on the four corners of the public square and serve as fire protection to the town.
BEDFORD AS A CITY.
Not until 1889 was Bedford made a city, under the general laws of Indiana. The exact date of incorporation was July 26, 1889, when it was divided into three wards.
The mayors who have served Bedford under its city government are : John B. Thomasson, V. V. Williams, William Day, H. P. Pearson, David Y. Johnson, J. Hickson Smith, Peter Fillion, who died in office and his place was filled by J. B. Stipp, Albert J. Fields, the last named elected in 1908.
The present city officers ( 1913) are: Arthur J. Fields, mayor; Noah Mullen, treasurer: Joseph E. Pierce, marshal; John D. McMurphy, street commissioner : James F. Stephenson, clerk : W. E. Clark, city attorney.
The 1912 state reports give Bedford a total valuation of property (less exemptions ), $3.715.445. Expenditures of the city in 1910, were $70,389; on hand, January 1, 1910, $19.956; taxes that year, $35,963: total receipts for the year. $96,434.
The reports of the state for 1910-1I gives Bedford as having one hundred and twelve fire plugs or street hydrants. They owned their own water plant and were using the meter system. There were then five police- men, and the police department spent that year (1911), $4,228. The firemen from the volunteer company were then receiving two dollars for each fire
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they were called out to attend to. The fire department's building and equip- ment was then valued at $4,000.
At present (September, 1913) the fire protection consists of the fire company, a three-horse combination wagon, and four paid firemen. The coming year the city will install another fire station in the north end of the city, where the present appliances will be kept, while the present fire house will be furnished with a motor engine truck and a complete new outfit.
The city is furnished with water from the White river, whose waters are filtered in a basin south of the city, and is supplied with power by the Southern Indiana Power and Light Company. The street lights of Bedford are now supplied by the Indiana State Light, Heat and Power Company, who also furnish steam heat and gas lights. This corporation purchased the old Bedford Heat. Light and Power Company's plant in 1912. Bedford now has fifty-two city blocks paved, equal to four and one-half miles of brick paving, of an excellent quality.
CHAPTER XVII.
THE BEDFORD STONE INDUSTRY.
Without doubt the greatest industry of Lawrence county is the stone industry, and from its magnitude the city of Bedford has long since been styled the "Stone City." But few localities in the entire United States domain affords better facilities for quarrying the best of workable building stone. This stone goes by various names. "St. Louis Limestone" "Bedford Stone," and "Bedford Oolitic Stone" are among the commercial and geo- logical terms used in describing these immense deposits of building stone. Owen, Lawrence and Monroe counties are all underlaid with about the same grade of stone, with some variations as to hardness and fineness. While the real development of these valuable quarries does not date back more than thirty years, the stone from these quarries was worked and known far and near many years prior to that time.
Among the earliest settlers in this county was that prince of gentlemen, Dr. Winthrop Foote, of Connecticut, a man well versed in both law and medicine who invaded the wilds of this county and settled at the old county seat, Palestine, in 1818, but moved to Bedford when this city became the seat of justice. He was a firm believer in the future of Lawrence county and in the possibilities of the stone found here, so lavishly bestowed by the hand of the Creator. He it was who acquired, by purchase and the "taking up" of government land, nearly all the sites upon which the most productive quarries are now located, at least all that were worked a quarter of a cen- tury ago. He early remarked to a friend that some day they would be sending that stone to New York city, and was met with the assertion that it could not be so, on account of there being no way to transport such heavy commodities so great a distance, but Dr. Foote remarked that there would be found a way by the time the stone was demanded there.
In 1832 Dr. Foote went to Louisville, Kentucky, and there interested a stone cutter named Toburn, who returned with him and located at Bedford. He was probably the first regular stone cutter who ever entered this county. Among the evidences of his having lived and labored here are numerous pieces of his handiwork in way of monuments and buildings from stone. Important and interesting among these is the vault cut from a large boulder
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LAWRENCE AND MONROE COUNTIES, INDIANA.
which lies in the position it was left by some mighty upheaval, on the eastern slope of the hill overlooking what is now known as "Blue Hole" quarry, about a mile from the center of Bedford. This vault is known as the Foote vault. The Doctor had a brother, Ziba Foote, who, while acting as a gov- ernment surveyor, in 1806, had been drowned, in what is now known as Foote's Grove pond, and he was buried on its banks. As soon as the vault was completed the body was exhumed and placed therein, and here also, in 1856, Dr. Winthrop Foote himself was buried. This spot was selected by the Doctor on account of its being in a quiet spot, away from the rush and noise of the city life. But things have changed with the march of time and the wonderful development of the great stone industry, and today number- less trains of cars rush madly by, upon two lines of railroad. The sound of the steam channeling machines, steam derricks and stone saw-mill ma- chinery is ever heard in that locality, but the dead sleep on and heed it not.
THE OPENING WEDGE.
What may be termed the opening wedge to this industry was when the building of the first railroad, the old New Albany & Salem line, brought to this county Davis Harrison, a civil engineering expert. He became firm in the belief that the marketing of this stone was practicable, and when his railroad work had ended he moved his family here from Kentucky, taking up his residence in Bedford. Here he made a systematic study of the stone measures hereabouts, and labored long to interest capital to aid in developing the quarries. It was not until 1877, when the Dark Hollow Quarry Com- pany was organized. that his efforts met with any degree of success, al- though he was interested in several enterprises before that date. His knowl- edge and careful research made the present success possible.
Nathan Hall was another pioneer in this industry. He, at the sugges- tion of Mr. Harrison, was induced to begin operations directly adjoining the quarry of what is now styled "Blue Hole." This was long before the discovery of the modern channeling machines, in fact it was before the Civil war period, when all the stone had to be blasted out with powder. To Mr. Hall the credit belongs for first making this stone known and valued by the outside world, or to give any commercial value to it. He shipped the first stone out of Bedford on the railroad, hauling it by ox team from the quarry, about one mile distant from a railroad track. He invented and had made the wagon for hauling these huge stone upon, now so common. Later he employed steam power at his quarries and was in direct communication with
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the railroad. In 1881 Mr. Hall sold his interest to the Hinsdale-Doyle Gran- ite Company, but the face of his old quarry was left about as he last worked it.
One of the earliest quarries operated was that of John Glover, a mile and a half south of Bedford. But little stone had been taken out of this quarry before the Civil war, at which time operations were completely suspended, and that ended his work. Some of the stone from his quarry, however, are still to be seen in the earlier buildings of Bedford. He used a very primitive saw for cutting stone with. It reminded one of a large sized wood-saw operated by two men.
FIRST SHIPMENTS TO CHICAGO.
With the whirling trains of Bedford stone that go whizzing by day after day now to Chicago, it may be of interest to know that the first ship- ment was made by the owners of "Dark Hollow Quarry," and was sent to John Rawle, who had just been appointed agent at Chicago for this build- ing stone. It was billed to him at about eighty-five cents per cubic foot. Mr. Rawle had worked on the oolitic limestone in the Portland quarries of England and knew the good value of this Bedford stone. He at once en- tered with zeal upon his duty of trying to interest Chicago builders in this commodity. He fashioned a huge vase cut from this stone which attracted great attention. He also employed a stone cutter one entire winter cutting paper weights from Bedford stone which he distributed among architects and builders the country over. He also contracted to erect the first Bedford stone building ever gracing the streets of Chicago, the Mandel building on Dearborn street. The first year this stone was shipped to Chicago there were only three car loads used there. Contrast that date with the present era. Then three car loads lasted a whole season, whereas now thousands upon added thousands of cars go to that city alone annually.
Again, the state and government geologists have done all in their power to bring the right understanding of this material before the American builders. From them we are able to draw many clear conceptions of just what this wonderful stone is and its high value to the world at large.
A careful examination of oolitic limestone shows that, while it varies in the nature and arrangement of its particles, its more striking character- istics are general and permanent. Shells more or less minute-scarcely dis- cernible to the naked eye-and fragments of shells, cemented by carbonate of lime, make up the mass. Indeed is the cementing so meager that it is
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scarcely observable even with the aid of an ordinary pocket-glass. This structure gives this stone the oolitic appearance-hence the name.
It is when we reach the sub-carboniferous area of the state that we discover the true wealth of Indiana limestone. The formation known as the St. Louis division or group covers a large area of the state, but it is the surface rock of a much smaller space, and while outlined in several counties it is only in Lawrence and Monroe counties that it exists as the surface rock throughout the entire county. Along the line of St. Louis outcrop from Putnamville southward to near the Ohio river is found the famous oolitic limestone. It lies in a narrow strip of country running somewhat diagonally, from northeast to southwest, a distance of about one hundred miles, and varies in width from three to fifteen miles. Every indication seems to be that the oolitic limestone has been deposited in deep sea waters, filling a basin whose shores are now marked by these lines where the rock is lightly, unevenly and irregularly bedded and formed of coarser and more loosely cemented materials than those of the main body of the stone. In Lawrence county as we pass eastward from her outcrops of most excellent stone, the struggling edge of the deposit is soon reached, and it takes on a coarser and looser structure.
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