USA > Kansas > Atchison County > History of Atchison County, Kansas > Part 22
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The Effingham Enterprise was founded about July 1, 1895. by W. H. Bright. It was short lived, and little is known of its history after the date just mentioned.
The Peoples' Press was a party organ, started in August, 1883, by the Peoples' Press Association, and suspended September 15 of the same year.
The New Kansas Magasine was started by Dr. W. H. Wynn, for many
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years a much beloved and greatly respected professor of English literature at Midland College. Dr. Wynn conceived the idea that there was a place for a monthly magazine in Atchison, to be conducted along the lines of the original Kansas Magazine, published in 1873, which contained some of the best literature that had ever been produced in Kansas. Associated with Dr. Wynn were Dr. W. W. Campbell, R. M. Manley, B. P. Waggener. H. M. Jackson, H. H. Allen, and A. J. Harwi. The first issue appeared February 18, 1892, and the last issue appeared September 30, 1893.
Midwest Moose Review was the official organ of the local lodge of the Loyal Order of Moose, published monthly by Frank L. Danforth, editor. It was founded in 1912, and ran only a few months.
The Atchison Tribune was started in 1896, but the name of the editor and publisher are unknown.
The Western Chief is a monthly publication, devoted to the Order of Redmen, and was founded about April, 1909. Paul Tonsing is editor and publisher.
Benedictine Parish Monthly, started in Atchison, in March, 1907, and published by St. Benedict's College, until January, 1910.
The College Review was published monthly in Lawrence and Atchison, by A. G. Coonrod and G. T. Smith, from 1891 to 1900. Coonrod & Smith were the owners of business colleges at Atchison and Lawrence.
Kansas Telegraph was a German paper, started by H. Von Langen December 23, 1880, and was published in Atchison until 1881, when it was removed to Topeka, where it was published for many years.
Atchison Journal was another German publication, started by John Hoenscheidt in 1880, but was short lived.
The Kansas Staats-Anzeiger was started in Topeka in 1879, and pub- ished until 1881, when it was moved to Atchison. It was also short lived.
Plain Facts was a weekly publication, started in Atchison October 4, 1897, and published by authority of twenty-five Atchison Populists, who were opposed to the election of George W. Glick, the so-called Populist candidates for State senator. It lasted three issues.
The Atchison Journal was the official publication of the Trades and Labor Council of Atchison. It started early in the year 1905, by W. J. Granger, and discontinued the last of November of the same year.
The Atchison Morning Star was a daily paper, published by J. A. Roul- ston, and started June 14, 1905, lasting until August 30, 1905.
The Atchison Tribune was a weekly publication, started March 27, 1896, by W. H. Higgins, and suspended publication July 16, 1896.
CHAPTER XV.
BANKS AND BANKING.
EARLY DAY BANKING-PIONEER FINANCIERS-THE OLDEST BANK-PRIVATE, STATE, AND NATIONAL BANKS-ATCHISON COUNTY BANKERS AND THE DEVELOPMENT OF BANKING INSTITUTIONS.
Banking was a precarious business during the Territorial days in Kan- sas. There were no banks, as we know them, until January 29, 1857, when the Territorial legislature passed an act providing that every company or association of persons formed for banking purposes within the Territory, and without an act of legislature authorizing the same, should be deemed unlawful. Upon the passage of this act, the first bank authorized to do business under it was The Kansas Valley Bank, of Leavenworth, with an authorized capital stock of $800.000.00, with five branches, at Atchison, LeCompton, Doniphan, Ft. Scott and Shawnee. The authorized capital stock of each one of the branches was $300,000.00, and under the terms of the act, each branch was independent of the Leavenworth institution. The great Government Over- land Transportation Company of Majors Smoot-Russell & Company was the big financial power behind this organization. The Leavenworth bank was never formed, and the Atchison branch was the first to start out under this act of the legislature, being authorized to begin business February 19, 1857, with securities amounting to $100,000. Dr. Jolin H. Stringfellow, Joseph Plean and Samuel Dickson were authorizd to open subscription books. The board of directors included Samuel C. Pomeroy, who was president ; W. H. Russell, L. R. Smoot, W. B. Waddell, Franklin G. Adams, Samuel Dickson and W. E. Gaylord. Shortly after the bank began business there were rumors emanat- ing from the rival towns of Sumner and Doniphan that the Atchison institu- tion was about to suspend, and for the purpose of allaying any suspicion on the part of the public, created by these rumors, the directors published a state-
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ment of its condition, showing that the assets were $36,638.00. with liabilities of $20,118.00. In July or August, 1857. L. S. Boling, of LeCompton, was appointed to examine and report on the financial condition of the Atchison branch of the Kansas Valley Bank, and this is the first record in Kansas of a proceeding of this kind.
Samuel C. Pomeroy resigned as president of the bank in 1858. and was succeeded by William H. Russell, of the contracting firm of Majors-Smoot- Russell & Company. G. H. Fairchild was made vice-president. and R. L. Pease, cashier.
In 1861, this bank, then called the Kansas Valley Bank, had its name changed by act of the legislature, to the Bank of the State of Kansas, and it was conducted under that name until 1866, when the stockholders wound up its affairs.
The legitimate successor of the Bank of the State of Kansas was Hether- ington's Exchange Bank, which was founded in 1859 by William Heth- erington.
The Exchange National Bank, of Atchison, Kan., is the oldest banking institution in the city of Atchison, having been established in 1859. while Kansas was a Territory. The bank was then named the Hetherington Ex- change Bank. That bank became the successor of the Bank of the State of Kansas, which was organized in 1857. The founder of the Hetherington Ex- change Bank was William Hetherington, and, except for one year during the Civil war, it has been in successful operation since it was established. It passed through the period of its existence during Territorial days, and the depressing financial conditions as a result of the war, and business reversals incident to the re-construction period, and its management was at all times conducted upon the theory of its motto adopted by William Hetherington in an early day that "Safety First" in all of its business transactions was the secret of success.
The bank's first business home was in the Otis & Glick building, opposite the Byram Hotel. In 1869 it was moved to the Hetherington building, at the northwest corner of Fourth and Commercial streets. Later on, and in 1885, the bank was moved to the southwest corner of Sixth and Commercial streets, into the building erected by its president, William Hetherington, where it has since been located.
In 1876, William Hetherington admitted into the firm, as a partner, Web- ster W. Hetherington, his eldest son, and in 1881. Clifford S. Hetherington, his youngest son, became associated with him. In the year 1882 the Heth-
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erington Exchange Bank was incorporated under the laws of Congress, as a National bank, under the name of The Exchange National Bank of Atchison, with a paid-up capital of $100,000, and surplus of $20,000, and at once took high rank as one of the strongest and most conservative banks in northeastern Kansas, and has ever since maintained that reputation.
The Exchange National Bank was organized with William Hetherington as president, August Byram, vice-president, Webster W. Hetherington, cash- ier, and C. S. Hetherington, assistant cashier. In 1890, upon the death of its president, William Hetherington, Webster W. Hetherington was elected president, B. P. Waggener, vice-president, and C. S. Hetherington, cashier. In 1892, upon the death of its then president, Webster W. Hetherington, B. P. Waggener was elected president, A. J. Harwi, vice-president, W. P. Waggener, vice-president, C. S. Hetherington, cashier, C. W. Ferguson, assist- ant cashier, and Webster Wirt Hetherington, teller. In October, 1906. C. S. Hetherington, the cashier, died, and C. W. Ferguson was elected cashier, and Webster Wirt Hetherington, assistant cashier, and Edgar Mattocks, teller. In April, 1907, the capital stock of the bank was increased to $200,000.00 with a surplus of $50,000, and ex-Governor W. J. Bailey was elected vice- president and managing officer of the bank, which position he has since held. Upon the death of A. J. Harwi, his son, Frank E. Harwi, was elected director, and succeeded his father, A. J. Harwi, as vice-president, which position he now holds.
In 1892 the bank adopted a by-law, which prohibited any officer or director of the bank from borrowing any money from it, or becoming an en- dorser or surety on any obligation or note to the bank, since which time no officer or director of the bank has been permitted to borrow any of its funds on deposit. The wisdom of this by-law adopted in 1892 has repeatedly been approved by the comptroller of the currency. The management of the Ex- change National Bank has adopted and adhered to this policy, because it be- lieves that a bank officer or director should not be permitted, under any cir- cumstances or in any emergency, to use any of its deposits in any of his own personal speculations or ventures.
In February, 1914, Webster Wirt Hetherington was appointed cashier, and Edgar Mattocks was elected assistant cashier, and George L. Wolfe, teller.
While the bank it known far and wide throughout the State of Kansas for its conservatism, yet it makes an effort to accommodate all business insti- tutions in the city of Atchison entitled to assistance and credit. It aims to be a distinctive Atchison institution.
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Luther C. Challiss appeared as a banker in the city directory of 1859 and 1861, operating his bank at the corner of Second and Commercial streets, but not much is known of this institution.
First National Bank was organized on the first day of October, 1866, by David Auld, with the following as the first board of directors : David Auld, Henry Kuhn, H. H. Moulton, George Scarborough, C. G. Foster, D. C. New- comb, and J. M. Linley. David Auld was elected president, George Scarbor- ough, vice-president, and W. R. Stebbins as cashier. For thirty-eight years this bank was under the careful and conservative management of David Auld, who died in October, 1904, and was succeeded by his son, David Auld, Jr. The bank began business in July, 1867, and since that time has been one of the strongest financial institutions in the West. It has always had the benefit of the services of experienced men in the banking business, and has followed a conservative policy during the whole of its existence. In 1910 the controll- ing interest in the First National Bank was purchased by the Commercial State Bank, which was organized in Atchison in 1906 by Sheffield Ingalls and O. A. Simmons. In the merger that took place the Commercial State Bank was absorbed by the First National Bank, and has continued under the latter name to maintain its high standard of conservatism, and with the introduction of new blood and new methods, it embarked upon a policy of service which has redounded to the lasting benefit of the community. The present officials of this institution are as follows: Edward Perdue, president ; J. H. Barry, chairman of the board; O. A. Simmons, first vice-president and manager ; J. M. Schott, second vice-president; Charles Linley, cashier; George H. Ed- wards, assistant cashier; F. J. Ledoux, assistant cashier.
The directors represent varied business interests of this city and county, and are as follows: Edward Perdue, J. H. Barry, O. A. Simmons, Charles Linley, J. M. Schott, C. C. McCarthy, August Manglesdorf, Leo Nusbaum, Sheffield Ingalls, A. E. Mize, M. Noll and W. T. Hutson.
The Atchison Savings Bank claims the distinction of being "The Old- est State Bank in Kansas," having enjoyed a continuous corporate existence of over forty-six years.
R. A. Park was its organizer and first cashier, and in June, 1869, it opened its doors for business in a brick one-story building at the northwest corner of Fifth and Commercial streets. At that time most of the business was centered close to the river, and this was considered quite an "up town" location, but time has vindicated the judgment of its early directors in anticipat- ing the westward growth of the town. With the expectation of building
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thereon the bank early acquired title to the lot at the southwest corner of Fifth and Commercial streets, but subsequently disposed of it to the late Ex- Governor John A. Martin, who built the Champion building thereon, and the bank moved to its present quarters, which it had acquired, and still owns, at the southeast corner of Fifth and Commercial.
William C. Smith ( father of Henry T. Smith) was the first president but the late Judge A. G. Otis soon thereafter succeeded him and remained presi- dent until 1891.
Thomas Murphy ( father of John Murphy and one of the builders of the present Cain Mill Company mill), W. W. Guthrie, Julius Kuhn, C. J. Drury, Col. Wm. Osborn, J. W. Parker, and other men prominent in the business and thereon the bank early acquired title to the lot at the southwest corner of social life of that period were among its early stockholders and directors, while for seventeen years the late T. C. Platt served as teller, and by his affability and faculty of remembering people, made many friends for the institution. A baseball bat, kept under the counter, was his weapon for defending the funds in his care. Courtney Challiss, George H. Lawton, "Vode" Kathrens, Lowen- holt, O. Orlopp and Will H. Bryning and others also served varying terms as early employees and will be remembered for their distinctive personalities. An apothecary's scale for weighing gold dust was part of the early equipment, but one trial was sufficient to prove the presence of too much dust and too little gold in the commodity offered. For almost twenty years the bank ran with but few restrictions from the State, the law simply requiring it to file an annual statement of its capital, surplus, etc., with list of stockholders and offi- cers, and publish a statement of its financial condition as of some one day in the year. Needless to say the day selected was usually one on which the deposits, loans and resources would make a satisfactory showing, but about 1890 the legislature enacted a banking law, which has since been several times per- fected by amendments, which brought this and all other State banks under its provisions, and the supervision of a State bank commissioner, with cast iron restrictions as to the relative amounts of loans, cash reserves, etc., and al- though some of the requirements seemed unduly severe to those accustomed to the former unrestrained exercise of their own individual judgment, few would now deny that it was wise and much needed legislation.
Following the retirement from the bank in 1891 of Judge Otis, Col. Wil- liam Osborn became president, serving until his death, when R. A. Park suc- ceeded to the office and served until his death in 1902. C. J. Drury being elected his successor and giving the institution his services for about a year, seconded by J. T. Hersey as vice-president, but both these gentlemen then re-
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HISTORY OF ATCHISON COUNTY
fred upon the acquisition of a majority of the stock by Meer I M Walker. J. C. Fox and F. M. Baker. Of later years the growth of the buck has been marked, the capital and surplus having repeatedly been enlarged, and de- posits and loans having shown a corresponding increase. The late Theodore Bartholow added his ripe experience as a successful banker to the board of directors, while F. G. Crowell, Joseph W. Allen, William Carlisle, with Messrs. Walker, Baker and Fox and others as stockholders and directors gave the institution a Statewide prominence.
R. A. Park, the second, who resigned as vice-president in 1911 to engage in business elsewhere, entered the bank in 1881; became cashier in 1892: elected vice-president in 1910, being succeedd as cashir by F. M. Woodford, who entered the bank's employ in 1900 as bookkeeper.
C. W. Ferguson, formerly cashier of the Exchange National Bank, has recently been elected a vice-president of the Savings Bank, and the present officers and directors are as follows: T. M. Walker, president; Joseph W. Allen, vice-president; C. W. Ferguson, vice-president; F. M. Woodford, cashier : W. T. Fox, assistant cashier.
The German-American State Bank of Atchison was chartered May 15. 1912, and began doing business June 21, 1912. Its original board of direc- tors was composed of Louis W. Voit, Henry Klostermeier, William Klos- termeier, F. A. Manglesdorf, L. A. Libel, G. T. Bolman, and F. A. Manglesdorf. Three months later the charter was amended and Charles Haase and W. A. Dilgert were added to the board of directors. This bank was organized with a capital stock of $50,000, and a surplus ac- count of $10,000. At the first meeting of the board of directors. the follow - ing officers were elected: Louis W. Voigt, president; Henry Klostermeier, vice-president; William Klosterweier, vice-president; F. A. Manglesdorf, cashier.
At the time the membership of the board was increased, Guy Elwell was elected assistant cashier. This bank occupies handsome quarters at the south- east corner of Eighth and Commercial streets, and has shown a remarkable growth since its organization. The only change in the board of directors that has been made since its organization was the substitution of E. F. Man- glesdorf for his brother, A. F. Manglersdorf. At the close of the first busi- ness day of the bank it had deposits aggregating $25,000, and at the end of one year the deposits had increased to $248,000, and at the end of the second year it was $323,000, and at the end of the third year it was $425,- 000, and in 1915 it boasted of total deposits amounting to $525,000, with a
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surplus and undivided account of $21,000. This bank has had an able set of officers, and its directors are among the most influential and substantial cit- izens of the community. It started in by making an aggressive campaign for business, and it accomplished what it went after, The institution is con- ducted along broad and conservative lines, and renders not only good service to its many patrons, but to the community as well.
German Savings Bank .- This institution was organized in 1873, with the following officers: George Storch, president; Robert Forbriger, vice- president ; John Belz, cashier.
The capital stock of the bank was $10,000 and its deposits were about $100,000. It conducted a general banking business, together with a regular savings department in connection therewith. This bank was located at 406 Commercial street, and wound up its affairs in 1886, when it was merged with the United States National Bank and the Dime Savings Bank, both of which failed.
The Atchison National Bank .- This bank was organized April 1, 1873, by John M. Price as president ; M. Barratt as cashier. G. D. Harrison suc- ceeded Mr. Price as president, in which capacity he served until 1878, at which time he was succeeded by C. J. Drury, with R. H. Ballentine as vice-president. When this bank commenced business it had a capital of $100,000, but in 1877 it was reduced to $50,000. It was located for many years at 503 Commercial street, afterwards moving to what is now the Simpson building, in the corner occupied by the Barth Clothing Company, where it failed in 19 -.
The Atchison State Bank .- This bank was organized prior to 1891, and went into voluntary liquidation March 24, 1898, at which time John M. Cain was president and cashier, and John H. Murray was secretary. It was located on West Main street, near the corner of Thirteenth street.
The Commercial State bank was chartered September 8, 1906, and be- gan business October 31 of the same year, and subsequently merged with the First National Bank March 24, 1910.
The Union Trust Company was chartered February 28, 1907, and was organized by B. P. Waggener, with a paid-up capital stock of $Ico,OCo. March 24, 1909, his charter was amended and it became the Exchange State Bank of Atchison, the officers of which are : F. E. Harwi, president, and Ed- ward Iverson, cashier. This bank has a paid-up capital of $50,000, with sur- plus and undivided profits of $34,776.91, with average deposits of $350,000. It is one of the strong State banking institutions of Kansas, and is doing a prosperous business.
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Atchison county has a number of strong, flourishing banks, located at Effingham, Muscotah, Potter, Huron, Lancaster and Cummings.
The Farmers and Merchants State Bank, at Effingham, was organized in 1905, with a capital of $12,000 by A. J. Smith, U. B. Sharpless, Fred Sutter, R. M. Thomas and J. W. Davis. Since its organization there have been a few changes among the officers and the board of directors, and in 1915 the officers were: Fred Sutter, president; L. T. Hawk, vice-president ; E. J. Kel- ley, cashier ; D. R. Gerety, assistant cashier. The present board of directors is as follows: Fred Sutter, L. T. Hawk, Alex. Mckay, U. B. Sharpless. E. J. Kelley.
The capital stock and surplus in 1915 exceeds $15.000, and the bank's average deposits are about $120,000. In 1910 a handsome and commodious brick building was erected at the corner of Main and Howard streets for its new home, and it was fitted with attractive new fixtures and a burglar-proof vault of modern structures, at a cost of $4,000. This institution is purely a local concern, financed by local capital; all of the stockholders reside in Ef- fingham and vicinity, and comprise leading merchants and farmers of the Effingham district.
The State Bank of Effingham was organized in 1889, and occupies its own quarters in a substantial and commodious brick building on the Main street of Effingham, which was erected in 1897. In 1912 handsome new fix- tures and a burglar-proof vault were purchased at large cost. The first presi- dent of this bank was Wesley Cummings, and the first cashier was Gilbert Campbell, with Harvey Sharp as assistant cashier and bookkeeper. Mr. Cum- mings continued as president until his death in 1899, and was succeeded by L. A. Murphy, who in turn was succeeded by T. J. Bohannon, who served un- til his death, August 29, 1915. A. M. Ellsworth became cashier in 1892, and was succeeded by W. M. Walker, who served in that capacity until 1905, when he is turn was succeeded by Clarence L. Cummings, the present cashier of this substantial and growing institution. The president officers of the bank are as follows: R. G. Bohannon, president; A. E. Mayhew, vice-presi- dent; C. L. Cummings, cashier ; Carl B. Searls, bookkeeper. The directors are : H. A. McLenon, A. E. Mayhew, R. G. Bohannon and C. L. Cummings. The capital stock is $20,000, with surplus of $13.500 and deposits average $100,000. This institution is one of the most flourishing banks in the county, and its officers and directors are substantial business men and farmers, who are not only highly regarded in Effingham and vicinity, but throughout all of northeastern Kansas.
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HISTORY OF ATCHISON COUNTY
The State Bank of Lancaster was organized March, 1896, by W. W. Stepp, Mark S. Cloyes, C. L. Cummings, T. J. Bohannon, and Dr. A. L. Charles. T. J. Bohannon was elected its first president, and C. L. Cummings its first cashier. It had a capital stock of $5,000, which subsequently was in- creased to $10,000, and in 1915 it had a surplus of $5,000, witli deposits ag- gregating $80,000. The present directors of this bank are as follows ( 1915) : M. J. Hines, C. E. Smith, A. J. Smith, J. F. Shell and M. E. Smith, and its present officers are : M. J. Hines, president ; C. E. Smith, vice-president ; A. J. Smith, cashier, and C. G. Stickler, assistant cashier.
The State Bank of Cummings was organized by H. J. Barber and E. W. Kaufman in 1908, with a capital stock of $10,000. E. W. Kaufman was elected president ; B. F. Cline, vice-president, and H. J. Barber, cashier. The capital stock in 1915 was $10,000, with a surplus of $5,000 and deposits ag- gregating $60,000. A neat and substantial brick building was erected for banking quarters and equipped with handsome fixtures and burglar-proof vault, at a cost of $3,500. The officers of the bank in 1916 were as follows : President, John Ferris; cashier. H. J. Barber, and the directors were John Ferris, H. J. Barber, C. A. Lewis, William Hegarty and F. W. Kaufman. The bank is in a thrifty condition, and has shown a steady increase in growth from the date of its organization.
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