USA > Kentucky > Jefferson County > Louisville > The city of Louisville and a glimpse of Kentucky > Part 16
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Directors : Thos. L. Barret, President Bank of Kentucky, Treasurer ; Henry W. Barret, Eclipse Woolen Mills; R. A. Robinson, Wholesale Druggist ; John M. Robinsou, Wholesale Dry Goods Merchaut ; J. B. Wilder, Wholesale Druggist ; Geo. W. Morris, President Gas Company ; WVm. Mix, Attorney-at-Law; Geo. W. Wicks, Tobacco and Cotton Mer- chant ; Jolin D. Taggart, President Fidelity Trust Co .; W. W. Hite, Pres- ident Louisville & Evansville Mail Line ; W. C. Priest, Real Estate Agent ; W. T. Rolph, Manager Dun's Mercantile Agency ; M. Muldoon, Marble Works ; H. M. Burford, President Bank of Commerce ; Charles Gold- stuith, of Bamberger, Bloom & Co .; A. P. Humphrey, Attorney-at-Law.
The Company was organized in 1866, with Prof. J. Lawrence Smith, President ; Judge L. T. Tlinstin, Secretary ; and a directory of eight men HON. CHARLES D. JACOB. whose names at once inspired confidence and assured the careful man- agement of the important trust which they assumed. Prof. Smith continued in office until the duties of the growing company demanded the entire time of its officers, when he resigned on account of his preference for his scientific researches, which gave him a world-wide reputation, and Hon. John B. Temple was elected in his stead, who gave his undivided attention to the business of the Company, sustaining its high reputation until his death, in May, ISS6. Hon. Charles D. Jacob was elected to the Presidency October 21, 1886.
Mr. Jacob was selected for the office on account of his peculiar fitness, his resignation as United States Minister Plenipotentiary and Envoy Extraordinary to Colombia thus resulting in the good fortune of the " Mutual of Kentucky." The substantial growth of the company's business from the date of his inauguration to the present time has proven the wisdom of the directory in choosing their third president, its assets amounting to $1,350,000, and its surplus to policy- holders to $206,000.
Judge Thustin has faithfully filled the position of Secretary from the organization of the company to the present time, and to his careful management and conservative policy, the success and high standing of the company is largely due. His excellent judgment in the management of the finances of the company has at once been a protection against loss from unsafe or injudicious investments, and has enabled the organization to earn, with unfailing certainty, the in- crease which is so essential to the success of all such corporations.
THE MUTUAL LIFE INSURANCE CO. OF KENTUCKY is the largest in the South, and the only Life Insurance Com- pany organized and located in the State of Kentucky, whose insurance laws are most stringent, and whose credit is equal to that of any State in the Union. Its managers are gentlemen well known to the commercial world as men of substance, integrity, and intelligence, which the best writers say is the chief consideration in the selection of a company. They are the very men who have contributed to the high credit of the State.
The MEANS and CREDIT of the Company are of the first order. It has sought the safest investments, as its state- ments show, while it has met all its losses promptly. Its management has been conservative, whereby it has gained largely the confidence of the insuring public, who have the best opportunity for knowing its strength, and has elicited the approval of the eminent State officers set to watch over the large interests involved, in a manner of which any company in existence might be proud.
In obedience to the laws, among the most rigid in the whole country, the State Commissioner of Insurance has, year hy year, issued a report, to be found in all the public offices of the State and counties, in which a clear and full statement of the Company is spread before the public for its scrutiny. These reports have all the time shown the Company to be in good condition, and its affairs well administered. Five times since 1870 have these personal exami- nations been made. January, 1877, the Commissioner closes his report as follows : "After a most rigid examination I have no besitation in saying that I found the Company to be in a sound and healthful condition, showing evidence of careful and prudent management." In the fall of 1883, the fifth examination was made. The report of it closes: "The Com- pany was found to be solvent and sound." The condition and standing of the Company, as well as the value of the securities comprising its investments, can be easily ascertained at all times ; as its affairs and securities are examined by a committee of the Board of Directors, composed of business men of undoubted integrity, who are residents of the city of Louisville, Ky.
The Company is mutual in the highest sense, and better than mutual. Besides giving to its policy-holders the sur- plus PRO RATA, its managers have put up as security a guarantee capital of one hundred thousand dollars, invested in safe securities, and lodged with the State Treasurer, on which they are limited to draw interest, only when there is entire safety, without encroaching upon the security which the State law requires. Mutual Life Insurance, thus guaranteed is the safest, the most just, and in the end, much the cheapest, as may be easily shown. 86
The Southern Exposition.
S INCE the first exhibition by the SOUTHERN EXPOSITION, in 1883, its displays have gradually become more and more practical in their aim, until that of ISS7, which serves rather to illustrate the real business of this community and the surrounding territory than to com- mand attention by its mere magnitude. In this way, if it is less ambi- tions, it is equally useful. In other words, the SOUTHERN EXPOSITION of the present year is directly commercial, rather than educational. It is, in fact, a great market for the display and sale of goods, being intended to act as an index to, and illustration of, the manufactures and commerce of Louisville and the surrounding country. With this end in view the management has sought to make the amusement accessories such as will draw, instead of such as will teach. The displays are not built on the fine- art plan, the design having heen to make them comprehensive instead of elaborate.
The history of this enterprise is certainly instructive. The com- pany, which is incorporated, was organized Octoher 30, 1882. The first exhibition was held in the summer and fall of 1883. This and the season of the following year saved the city of Louisville from falling into the commercial lethargy that then overcame other and larger cities. Indeed. the influence of the SOUTHERN EXPOSITION in the years 1883-84 was worth many years of ordinary growth to the city, keeping business act- MAJOR J. M. WRIGHT. ive at dull seasons, and opening new fields to the merchants here. Many thousands of strangers visited the great shows. Again in 1885, the exposition was a success, and in 1886 more goods were sold within the walls of the building than had been sold even in those years when the elaborate foreign displays formed so large a part of the exhibition.
It is impossible to overestimate the educational benefits of the first four great displays in the departments of music and painting, furnished the music. The com- pany has also pro- vided four spring festivals-two sea- sons of Thomas' symphony cou- certs, and two of grand opera, all of which have been eminently suc- cessful. This year, however, the en- tertainments are of a more popular kind and are to be changed from week to week. whose influence has created a dis- tinctly good and discriminating taste among Lanis- ville people in those branches of art. For four years the art gallery was filled with the best American and for- eign pictures. To music the exposi- tion awes much of its success. Dur- ing the exposition seasons Dam- rosch, Gilmore, So much for SOUTHERN EXPOSITION BUILDING. the past: The and Cappa have Southern Exposition Company owns $92,815 worth of land ; the improvements, machinery, etc., bring the total up to $396,613, and the company has other property under its control. The main building has an area of fifteen acres and an exbibit space of 677,400 square feet, of which 177,000 square feet are devoted to the machinery exhibits. Sixteen boilers ontside of the building supply the steam to run 1,516 feet of shafting. The company owns all the necessary ap- pliances for running the machinery. The electric light plant is the largest individual plant in the world. The SOUTHERN EXPOSITION seems to be particularly well situated for profitable exhibiting of machinery. At the end of one season, when the subject was traced up, it was found that out of 600 car-loads of machinery coming from the East, only 100 car-loads went back to their original place of shipment; the balance all having been sold during the exhibition, and at the close shipped to the purchasers.
All of the exhibits are put in place at a minimum cost to the exhibitors. There is no charge for unloading and load- ing freight. A special line of railroad runs to the doors of the building, and there is no drayage to pay. There is no charge for space and no entry fee.
The exposition of the current year has many special and popular attractions. The admission price is only twenty- five cents ; for children, only ten cents. There is every prospect for the continued success of the enterprise.
The prosperity of the exposition, indeed, its very existence, has been mainly due to Major J. M. Wright, who has been its general manager since its inception, and for two years was its president.
1€
Murrell, Cabell & Co.
A MONG the most important of the commercial interests of Louisville is the wholesale grocery trade. One of the most successful mer- chants now engaged in it is Henry C. Murrell, of the firm of MURRELL, CABELL & Co. Mr. Murrell was born in Glasgow, Ky., in June, 1832. In 1849 he went into the store of his uncle, Mr. Robert Murrell, where he remained as a clerk until 1852. Meanwhile, the uncle had quit business in Glasgow and removed to Louisville, establishing, in 1851, a wholesale grocery business in the latter city under the firm name of Murrell & Trigg. Here Mr. Henry C. Murrell followed in January, 1852, going into the business as a clerk. On July 1, 1856, he was admitted to an interest in the business, the firm being Murrell, Trigg & Co., com- posed of Robert Murrell, Alanson Trigg, and Henry C. Murrell, The concern then moved into the building now occupied by Murrell, Cabell & Co. This firm continued business for two years and a half, when Mr. Trigg retired, the firm then changing its style to Murrell & Co. This continued until 1860, when H. C. Murrell bought his uncle ont, when he formed a partnership with George C. Castleman and Joseph P. Torbitt. This firm continned in business for seven years and a half, when it was dissolved. A partnership was then formed between Mr. Murrell and Jacob F. Weller, under the name of Murrell & Weller. This firm con- tinued business until July 1, 1870, when Mr. Murrell went into business H. C. MURRELL. alone and in his own name, but on January 1, 1881, the present firm was established, Mr. Murrell, of course, being the senior member.
The business of the house, while confined mostly to Kentucky and Indiana, is of large proportions. It embraces everything in the grocery line ; but the firm has made a specialty of manufactured tobaccos, which it handles very largely. The business altogether is as large as is done in the same line of trade in Louisville, the house being popular, as well as substantial. The firm, as it is now composed, consists of Henry C. Murrell, John M. Cabell, a young man and a native of Taylor county, Ky., and Samuel Murrell, a younger brother of the senior member of the firm. These gentle- men are most energetic in the conduct of their business, keeping thoroughly abreast of the times and often leading the market. Their business is of a substantial kind, having been built up by energy and probity, rather than by any speculative ventures.
During his long and energetic career as a merchant in Lonisville, Mr. Murrell has held many positions of public trust and honor. For a number of years he was a director in the Louisville branch of the Northern Bank of Kentucky, his connection with this institution ceasing when the Louisville branch closed in January, 1873. For seven or eight years he was a director of the Louisville & Nashville Railroad Company, holding this office during the several terms of Presidents E. D. Standiford, H. Victor Newcomb, E. H. Green, and C. C. Baldwin. Under Dr. Standiford he was a member of the finance committee which redeemed the property from destruction and established its business standing. He severed his connection with the directory of the road in June, 1882, but is still actively interested in and officially connected with the road in many of its organizations and enterprises.
But Mr. Murrell has long held a much larger and more important trust than any of these, having for many years represented his ward-the Seventh-in the Common Council of the city. He has fulfilled this trust with the same honesty, honor, and intelligence that have marked his commercial career. He was first elected to the lower board of the Council in 1867, resigning the following year. In December, 1873, his fellow citizens sent him to the Board of Alder- men, where he has served ever since, his re election having been opposed only twice in that time. While eminently endowed with the shrewdness, tact, and strength of purpose that make the successful politician, Mr. Murrell in no sense belongs to that category, but has served the city only at the earnest solicitation of those whose trust he holds. With the single exception of its Presideut, Mr. Murrell has been in office longer than any other member of the Board. It is somewhat remarkable that he has nearly always been classed as an "anti-administration man," at least, since the late Mr. Baxter retired from the Mayoralty. On questions of general policy Mr. Murrell always agreed with that progressive and energetic officer, but he has for years been a "member of the opposition," though, of course, in many of the details of city government, the city's various and changing officers have had his active co-operation. Mr. Murrell has been repeatedly solicited to become a candidate for the Mayoralty and has once or twice been almost forced into the race for that office. But he is a man engaged in large commercial enterprises which demand his attention and which he would have largely to sacrifice were he elected Mayor of Louisville.
Among the public measures which he actively promoted was the building of the enormous storage reservoir of the Water Works, one of the finest pieces of engineering in the country and one of the most useful of public structures. The timely foresight of those who favored the measure has doubtless several times averted a water famine in Louisville.
Mr. Murrell's uncle Robert is an interesting character. He continued actively in business in New York until 1880, or until he was seventy years of age. He is still a hale and active man, but makes no effort to do business, though he keeps his seat in the Cotton Exchange. His habits have always heen most exact and methodical. H. C. Murrell says he has often known him to come into the store day after day and not speak a word to a living soul, except on matters of business, for a week. He acquired a large fortune in his long and busy life. He lives in Brooklyn, but he still spends much time in his office in New York and in the Cotton Exchange. 88
The Falls City Bank.
JOHN T. MOORE.
A FTER overcoming numerous adverse circumstances, the FALLS CITY BANK has for several years been one of the most prosperous of Louisville institutions. It was chartered in 1865, with a paid-up capital of $400,000, being then known as the Falls City Tobacco Bank. At the time of its organization there was great financial depression throughout the country, hut the bank prospered. Then came the pauic of '73, aud be- fore this storm had swept over the country the FALLS CITY BANK re- ceived a blow that would
MAJOR WM TILLMAN.
have crushed most similar concerns, but did not cause this one to suspend business, though its entire surplus was wiped out in a single night. In March, 1873, the bank was robbed of between $300,000 and $400,000 in cash and convertible securities. The thieves rented a room just over the hank's vault and worked down from the top. They used the finest tools and one Saturday night they had cut their way through the iron and steel top of the vault. The robbery was not discovered until late Monday afternoon, as the thieves had fastened the bolts of the door so that it could not be opened except hy expert workmen. The thieves were never caught, though between §200,000 and $300,000 worth of honds were recovered at a cost of $83,000. The FALLS CITY BANK is particularly fortunate in its charter, which permits its officers to regulate its advantage to it, and also of the Water Company's account. It trans- acts a general banking business in loaus, deposits, discounts, foreign and domestic ex- change, and pays particular atten- tion to inland col- lections. It has a large correspond- ence throughout the South and al- lows interest on bank deposits. 1ts Savings Depart- mient is a feature of the institution, in which interest is allowed on de- posits. INTERIOR FALLS CITY BANK. After the death capital stock on a sort of sliding scale between $400,000 and §1,- 000,000. They may increase it, as they see fit, up to $ 1,000,000 and may then reduce it to $400,000, but not lower than that. At present its capital stock is $400,000 ; hut it is now issuing $200,- ooo additional stock. Its shares are quoted at 110. The bank is one of the deposi- tories of the Sink- ing Fund of the City of Louisville, which is of great of Mr. L. L. Warren, Mr. John T. Moore was elected President of the bank. Mr. Dennis Long is the Vice-President. The other directors are P. Meguiar, J. W. E. Bayly, H. C. Warren, and Charles H. Pettet. Mr. Moore is a member of the firm of Moore, Bremaker & Co., wholesale grocers, and of the Bremaker-Moore Paper Company.
Major Wm. Tillman, the Cashier, was born in New York in 1834. The breaking out of the civil war found him in Michigan. He was appointed on the staff of General A. S. Williams, but was then made a paymaster in the army. He resigned in 1866 with the brevet rank of Lieutenant-Colonel, having disbursed $23,000,000, for which he promptly received his quietus. He came to Louisville in 1875, and in 1876 accepted a position in the hank. In November, 1880, he was made cashier. At that time the deposits amounted to $150,000 ; now they reach a million. 89
meddis, Southwick & Co.
2 "HIS old and well-established firm has been in the real estate business since 1867, and have done a very large business. They have sold more property thau any other firm in the city, aud perhaps more thau all the others put together, since they do a very large auction busi- ness, Mr. Meddis having the well-earned reputation of being one of the best real estate auctioneers in the State. He is a uative of Louisville, aud before going into the real estate business had served many years as dep- uty sheriff under Charles Quirey, S. S. Hamilton, W. S. D. Megowan, aud J. Wash Davis, which employment peculiarly fitted him for the duties of real estate agent and auctioneer. His first important auction sale was ju 1870 for the Bank of Kentucky, amounting to nearly two hundred thousand dollars.
Mr. Meddis made the great Bustard sales in 1870, aggregating nearly one-half million dollars. The firm has made nearly all the important sales of real estate that have occurred in Louisville during the past twenty years. They have been the purchasing agents for the Short Route Company, Louisville, New Albany & Chicago Railroad Company, Louisville Bridge Company, C. & O., Ciuciunati Short Line, and Ken- tucky and Indiana Bridge Company. They represented the late E. D. Standiford in nearly all his large trausactions, and with one or two excep- tions purchased for H. Victor Newcomb, Esq., the vast real estate now S. S. MEDDIS. owned by that gentleman in this city. They are now in the active employ of the Fidelity Trust Company, the Louisville Southern Railroad Company, Kentucky and Iudiana Bridge Company, Bank of Kentucky, and most of the institutions and individuals baving large dealings in real estate in Louisville.
While Mr. Meddis is essentially a real estate agent, devoting most of his time to that branch of his business, he is one of the most successful of general auctioneers and bas made an enviable reputation as an auctioneer of live stock, having made some of the greatest sales that have occurred in the United States. For eleven consecutive years he made sales for L. L. Dorsey, the founder of the great "Golddust " family of horses, and has, with one exception, made all tbe sales for the late Mr. McFerrau aud R. S. Veech at the Glenview aud Indian Hill stock-farms, on which farms bave been bred, aud at which sales were sold, many of the trotting celebrities of the present day. At the executor's sale of Mr. McFerrau's estate in October, 1886, Mr. Meddis made what he considers the greatest sale of his life. At this sale 168 head of stock were sold at an average of $1,932 each, the total sale of stock and Glenview farm aggregating over four hundred thousand dollars. While these high prices were mainly due to the character and hreeding of the stock, 110 one who saw the sale can deny that its success was augmeuted by the able manner in which Mr. Meddis presented the property at the sale, and that he is justly entitled to congratulations on his management of the greatest and most suc- cessful sale that has ever occurred in America.
Mr. Southwick came to Louisville in 1862 from Seneca county, New York, where he spent his boyhood ou a farm. His first stay in Louisville was only of two years' duration, but he returned in 1866, and in conjunction with John T. Morris, organized the real estate firm of Morris, Southwick & Co., which firm for nearly eleven years had the largest fol- lowing of any firm of the kiud in the city, and did an immense business in real estate and auction sales.
The firm of Morris, Southwick & Co, was very successful and accumu- lated a fortune of a quarter of a million, but the decline in property after the panic of 1873, caused it to lose heavily, and in 1875 the firm was dissolved. Thereupon the present firm of MEDDIS & SOUTHWICK was organized, and for seven or eight years it had hard up-hill business and a series of successes and disappointments. But by industry, energy, and good judgment its members have managed to recuperate their fortunes. Mr. Southwick is regarded as one of the best real estate agents, always amiable in mauner, persuasive and convincing in argument.
Bruce Hoblitzell, the junior member of the firm recently admitted, has charge of the books and financial department and will hereafter give special attention to the renting department. This branch of the real estate business the firm has heretofore declined, but by the accessiou of Mr. Hoblitzell, are prepared to conduct it with the same satisfaction to its patrons as it has given in the other branches.
Both Mr. Meddis and Mr. Southwick are expert in all matters per- taining to real estate. Being familiar with nearly every foot of ground in the city-indeed they have sold property on nearly every block in Louis- ville-tbey are thoroughly familiar with values, and if they are asked sep- arately to give a valuation on any piece of property, their estimates will in all cases be found to coincide withiu a few dollars ; consequently, whether for the buyer or seller, their opinion as to prices is equally valuable.
CHARLES SOUTHWICK.
90
John A. Stratton & Co.
7 HE recent remarkable activity 111 real estate brought prom- inently before the public those gentlemeu who are supposed to benefit most by the "boomis " that certain sections of country are now enjoying. Among these noue has attracted more attention by his foresight, enterprise, and suc- cess than have JOHN A. STRATTON & Co., real estate and house agents. The firm consists of John A. Strat- ton and N. L. Varble, both of whom are young men and who owe their present influential position entirely to their unaided efforts. Mr. Stratton has been in this busi- uess since 1879. He was born in Henry county, Kentucky, February 24, 1854, and removed to Louisville when nine years of age. After re- ceiving a good education he became JOHN A STRATTON. remarkable. Mr. Stratton is also something of a real estate lawyer, and generally looks up the law in his own cases.
engaged in mercantile pursuits, but was obliged to spend a year in the far West on account of failing health. On returning he opened a collecting agency, especially for the collection of rents. The latter branch had increased so much that in 1879 he determined to devote his attention entirely to real estate. Since that time he has made land values a special study and is known as an expert in this delicate busi- ness. He has been employed to divide some of the largest estates in Louisville, and in almost every important suit at law, involving the value of realty, he is called as an expert and eminently fair wit- ness. No man scented Lonisville's real estate "boom " from such dis- tance in time as did Mr. Stratton, and the success of his clients was
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