USA > Kentucky > Jefferson County > Louisville > The city of Louisville and a glimpse of Kentucky > Part 23
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The enormous possibilities of this line are attracting attention on every side. The present relations of the Louis- ville & Nashville with the lines north of the Ohio river render another Southern outlet a commercial necessity. The Louisville, New Albany & Chicago Railway, with its ever-increasing traffic, the Ohio & Mississippi Railway, and the Louisville, Evansville & St. Louis Railroad all need a Southern adjunct, and the LOUISVILLE SOUTHERN presents the only chance for this. Much freight north of the Ohio river is carried via Cincinnati on account of the lack of competi- tive facilities at Louisville, and this new line, via the LOUISVILLE SOUTHERN, not only offers this competitive factor but gives a shorter and more direct connection to many parts of the South. Chattanooga will be an hour and a half closer to Louisville, and this will apply to all points in Georgia and the Carolinas. It will give the Louisville merchants addi- tional territory aud facilities and open to tbe rapidly-expanding manufactures of Kentucky's metropolis new fields for the sale of their products. That such an important link should so long remain unfinished is astonishing to those who are acquainted with Louisville's courage and enterprise, and that her citizens are at last able and willing to nudertake this work is renewed evidence of their readiness to meet every emergency in her commercial history.
One of the most important aspects of this new railroad is the return of the Bluegrass region to intimate connections with Louisville. The construction of the Cincinnati Southern, which offered such remarkable facilities to Central Ken- tucky for trade and travel with Cincinnati, bas carried no inconsiderable portion of that section to that point. The LOUISVILLE SOUTHERN will change this condition of affairs and bring to Kentucky's chief city-where it uaturally he- longs-a people who will delight to again have made such commercial, social, and financial relations to Louisville.
The men who have undertaken this enterprise are public benefactors, and, with the construction of this line, they will have achieved for Louisville a prominence and importance in railway matters which lend additional force to her claims as the center and metropolis of the Ohio and Mississippi river valleys.
The LOUISVILLE SOUTHERN RAILROAD will be ready for business about March Ist next ; it is a first-class road in every respect, built upon the Pennsylvania Company's standard, and designed for speedy and safe travel.
The President, Major J. W. Stine, has long been a leading spirit in all that has been undertaken for the develop- ment of Louisville. He connected himself with the enterprise in its darkest days, and to his courage and genius a very large share of its present success and prosperity is attributable. He was born in Baltimore, Maryland, but removed to Newport, Kentucky, in 1859. He entered the federal service with the Cincinnati Zouaves, of which he was an officer. He left the army in 1863, and, after a brief mercantile venture in the interior of Kentucky, came to Louisville in 1864 and became a member of the firm of W. B. Leonard & Co., then in the grain business. A short time afterward, he purchased a share in the Hope Woolen Mills, since which time he has devoted himself unremittingly to the "Kentucky jeans man- ufacture." He now partly controls and manages the Louisville (Kentucky) Woolen Mills, one of the largest manufac- tories of Louisville, and the most extensive establishment of its kind in the world. Major Stine has been most fortunate in all his enterprises. He is public spirited to a high degree, and has been honored hy election to many offices of trust. In the Expositions, new and old, he was an active spirit and officer. For five years he was a member of the Board of Directors of the Board of Trade, and for two years a member of the council from the Second Ward. He was elected to the council in the memorable Baxter-Jacob contest. The ward voted for Baxter, but on account of Major Stine's great personal popularity, though being the Jacob candidate, he carried the ward by a handsome majority.
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119
The Fireworks Amphitheater.
6 HE FIREWORKS AMPHITHEATER is situated ou Fourth ave- nue, occupying a full city square (bounded on the east by Fourth avenue, ou the west by Fifth avenue, ou the north by Hill street, and on the south by "A" street), and is the most popular place of open air amusement in the city of Louisville. Mr. Daniel Quilp is the sole proprietor aud manager, and Mr. James B. Camp is the husiness man- ager, whose handsome picture adorns this page. The euclosure embraces four acres of ground. The grand stand seats 10,000 people, and is so constructed that any entertainment that may be produced at the AMPHI- THEATER can be perfectly seen from every seat. In front of the grand stand is a promenade forty feet wide, covered with a nice green carpet of grass, which is kept nicely mowed. Between the promenade aud stage is a lake, ju the shape of a half moon, 300 feet long and 75 feet broad iu its widest part. The banks of the lake are walled up with stone, the bottom and sides are covered with cement, and it is deep enough to float boats of considerable size. The FIREWORKS AMPHITHEATER was con- structed for the special purpose of producing the grand pyrotechnical spectacles of the great London pyrotechnist, Mr. James Paiu, who is conceded to be the fireworks king of the world. The scenery used in each of these spectacles is painted by Mr. Pain's own scenic artist, Mr. Joseph Harker, together with the materials used in their coustruction, JAMES B CAMP costing the enormous sum of {2,000, or $10,000 in United States money. The scenery requires a stage breadth of 400 feet and a stage depth of 250 feet. In the production of Pain's spectacle over 200 people or performers, all dressed in correct and appropriate cos- tumes are required, all under the direction of Mr. Pain's own stage manager, Mr. John Raymond, for years connected with the Royal Alhambra Theater. The FIREWORKS AMPHITHEATER was opened August 28, 1886, with Pain's beauti- ful and romantic spectacle, "The Last Days of Pompeii," which was produced every Thursday and Saturday evenings uutil October 23d, the close of the season. The scenery was beautiful, correctly representing the beauties of the Italian architecture of the marble palaces of that ancient Italian city, aud a vivid and thrilling representation of the eruption of Vesuvius. While this book is going to press, the season of 1887 at the FIREWORKS AMPHITHEATER has already begun with the production of Pain's graud Russian military spectacle, "The Buruing of Moscow," beginning Thurs- day, August 18th, and will be produced every Thursday and Saturday evenings until October 22, 1887, the close of the season, and no readers of this book should fail to see this wonderful spectacle, Pain's greatest triumph. The spec- tacle gives a correct idea of the Russian architecture, and of the city of Moscow, the Kremlin, the mosques with their
FIREWORKS AMPHITHEATER SEATS,
golden domes, its cathedrals and magnificent palaces. It illustrates also one of the grandest events of history-the end of Napoleon's glory and the beginning of his downfall. Next year for the season of 1888, Pain's "Siege of Sebastopol " will be produced. It will be seen that all of Pain's spectacles represent some great event in history, thereby affording not only pleasure and instruction to the young, but also entertainment to the old. The spectator wit- nessing these spectacles at night, when the scenery is lighted up by a vast number of electric lights, and is reflected in the waters of the lake, feels as if he were transported by magic far away in some distant land, forgetting and far removed from the cares of this busy world. Popular prices of admission are charged hy the management of the FIRE- WORKS AMPHITHEATER to witness these wonderful spectacles-twenty-five cents for adults, and teu cents for children.
120
George H. Dietz & Co.
S OUISVILLE leads the South in printing, binding, and the manu- facture of blauk-books. One of the oldest Main street houses in this line is that of GEORGE H. DIETZ & Co., of No. 514 West Main street. The business was established in 1868, and has steadily grown in proportions till it stands in the first rank.
Mr. Dietz, of the firm, is a practical, careful, methodical German. His training in his business fits bim eminently to maintain the success his firm has achieved. He has a wide acquaintance throughout the busi- ness world, of which Louisville is the center, and is personally popular with solid business men.
The firm does a general wholesale business in printing, binding, blank-books, and stationery, plain and fancy. Their printing includes job and book printing of all ordinary forms. They are prepared to turn out job work with more than ordinary dispatch, and the books printed by them have been highly commended for the neatness and accuracy of the work. They make a specialty of blank and memorandum books of their own manufacture. They have had long experience in the manu- facture of such goods, having commeuced almost at the founding of the business. To all the details strict personal attention is given, and this insures the best quality of work. At the same time the extent of their trade in this line enables them to offer the lowest current prices.
GEORGE H. DIETZ. In stationery the whole range of quality and prices is covered, in- cluding a full line of papeterie and other fancy articles. Especially as the holiday season approaches, a full stock of albums, card-cases, rulers, paper-knives, etc., suitable for presents, is kept on hand. At all times a complete and carefully-selected line of pens, ink, mucilage, peu-holders, ink-stands, paper- weights, pencils, crayon, blotters, copy-press stands, copying-presses, copying-brushes, water-cups, oil-boards, thermom- eters, pen-trays, sponge-cups, check-cancelers, paper-files, paper-clips, manifold paper, cap-tablets, newspaper-files, hill- holders, paper-cutters, pen-cleaners, cash-boxes, bond-boxes, office-boxes, postal-card cases, stationery-cases, euvelope- cases, post-office boxes, bill-head cases, calendars, card-racks, match-safes, twine-boxes, steel erasers, paper-fasteners, rubber bands and rings, bankers' shears, ribbons for bank stamps, tape, counting-house slates, book-slates, corkscrews, thumb-tacks, letter-balances, office-baskets, shipping-tags of all styles, bottle-labels, tape-measures, twines, sealing-wax, etc. Their stock of inks includes, of course, all standard plain black and colored inks, and of peus the best kinds of steel aud gold. For those who prefer the old-fashioned quill-pen, they sell a machine with which such pens can be made very rapidly. The firm does not deal in miscellaneous books. Much of their fine writing paper and other fancy goods is imported direct from England, France, and Germany.
The business house of GEORGE H. DIETZ & Co., No. 514 West Main street, is a handsome building, 22 feet front by 190 feet deep, four stories and a basement. In the basement are kept heavy goods and the stock of papers for manufact- uring. On the first floor is the stock in all its lines for the inspection of customers. Also conveniently at the rear, the office. On the second floor is the printing office, one of the most complete in all its appointments in the State. In every branch the latest improved machinery is employed, and the most skilled men in their several lines are selected to do the book and job printing turned out of this office. On the third floor is the bindery, and here, also, with the best machinery known to the business, work is most carefully and substantially done. Ou the fourth floor is stored stock, raw material, and surplus of any kind. The firm, coming on Main street in 1871, has been at this same place for the past eight years, aud its stand has become familiar to all dealers in blank-books, stationery, etc., throughout Louisville's legitimate trade territory. They have facilities equal to any, and make a specialty of filling orders promptly. In con- sequence, customers once secured seldom leave them. They seud goods throughout the South-Mississippi, Louisiana, Alabama, Georgia, Tennessee, Arkansas, and to a few chosen points in Texas. They have also a good trade in Indiana and Illinois, while nearly every town in Kentucky of any size knows their work for its excellence.
A specialty of this firm is Arnold's Cipher for secret correspondence. It is used throughout this country, in Italy, Spain, France, and Europe generally, in Africa, India, Australia, and, in fact, throughout the civilized world, wherever telegraphic correspondence is carried on. So many railroad men can read telegraph messages from the instrument hy the sound merely, it is almost impossible to carry on a correspondence secretly by the use of ordinary language. Accord- ingly many efforts have been made to secure a satisfactory cipher. In Arnold's it is believed the highest degree of suc- cess has been attained. It gives strict accuracy and complete secrecy. At the same time it is much more economical than ordinary language. Its advantages over other methods are that the phrases used have been selected from actual correspondence of men of large experience, the cipher words have been chosen with great care by a practical telegraph operator of fifteen years' service, and a system of keys is arranged so that the key can be changed at pleasure. The book is printed in convenient pocket size.
Correspondence is invited by the firm, and prompt attention given it. Anything in their line not named in their catalogue will be furnished at the lowest current rates. They urge upon customers the importance of explicit direc- tions in sending orders, and ask that all orders state in what manner shipments shall be made, whether by rail or river, freight or express. The greatest care is exercised to fill orders accurately and to ship promptly.
I21
The Louisville Banking Company.
THEODORE HARRIS.
HE LOUISVILLE BANKING COM- PANY is one of the foremost financial institu- tions of the city of Louis- ville. Its stock sells for more than that of any other bank iu the city, and its deposits are sur- prisingly large. It was incorporated under the laws of Kentucky in 1867, Mr. Theodore Harris be- ing then, as now, Presi- dent. The capital stock was then $100,000. The company did business for many years on Main street, near Fourth, and moved into the building now occupied by it in 1885, the old quarters having become too cir-
JOHN H. LEATHERS.
cumscribed to afford facilities for the growing business, which constantly demanded a larger clerical force. It is now on the first floor of the handsome Bull Block, a building erected especially to suit the conveniences of the bank, which has a thirty years' lease on the premises. Thus, the LOUISVILLE BANKING COMPANY obtained all the benefits that it could have derived from putting up its own building, with none of the attendaut inconveniences. The vault is one of the finest in the West. It extends to the solid rock below the sub-cellar ; the lower story of the vault, underneath the bank, being occupied by the Louisville Trust Company, and is built up to the roof of the house. It is absolutely fire and burglar proof. The banking rooms contain all the latest improvements, and are beautifully furnished.
The officeis of the institution are Theodore Harris, President; J. E. Sutcliffe, Vice-President ; John H. Leathers, Cashier. Mr. Harris has lived in Louisville for the greater part of his life, and has been connected with various busi- ness enterprises ; but for the last twenty years the bank has absorbed his entire attention. He was the most active man in the organization, and its great success bank's business through his large ac- quaintance and strong personal following throughout the State. He is Grand Treasurer of the Grand Lodge of Ken- tucky Free and Accepted Masons, and also Treasurer of the Grand Chapter of Kentucky. Mr. W. S. Jones, the Teller, has recently been elected Assistant Cash- ier. is chiefly due to his euergy and skill. He is widely-known as one of the most able financiers in the South or West. Dr. Sutcliffe, the Vice-President, is a member of the successful wholesale firm of Sut- cliffe & Owen, dealers in boots and shoes. He is known for his business sagacity and prudent, conservative ideas, and is emi- nently a safe man to be concerned in the management of a bank. Major J. H. Leathers, the Cashier, was elected to his office April 1, 1885. A Virginian by birth, he came to Louisville as a boy aud has lived here ever since, except during ING the four years of the war, when he was with Stonewall Jackson, having entered the Confederacy from Virginia. He is a man of middle age, but he has all the snap aud dash of Young America and has done not a little to increase the THE BULL BLOCK
The Directors of the bank are repre- sentative meu. In addition to Mr. Harris and Dr. Sutcliffe, they are Jas. C. Gilbert, of the Bradley & Gilbert Company, book- sellers and stationers ; F. A. Gerst, of the F. A. Gerst Company, wholesale notions ; Jas. P. Boyce, D. D., President Southern Baptist Theological Seminary; R. L. White, of White, Green & Huffaker, wholesale boots and shoes; Alvin Wood, of Alviu Wood & Co., wholesale whis- kies; R. L. Whitney, Secretary and Treasurer Falls City Jeaus and Woolen Company ; Vernon D. Price, of Price & Lucas, manufacturers of cider and vinegar.
The capital stock of the bank has been increased from time to time to meet the wants of its growing business. Its present capital is $350,000, and its surplus, $475,000. In July, 1887, $50,000 additional stock was issued and sold at $250 a share, the par value of a share beiug $100. The sale realized $125,000, of which $50,000 have been placed to capital stock, and the remaining $75,000 to surplus. Thus the total capital and surplus is $825,000. The bauk pays a semi- annual dividend of eight per cent. and its stock commands, at this time, a higher price than is reached by any other bank stock in Kentucky-$250 per share, the par value being $100. The phenomenal increase of business iu this bank is shown by the deposits for the last three years : July 1, 1885, $616,000; July 1, 1886, $1, 186,000; July 1, 1887, $1,605,000.
122
The Masonic Savings Bank.
JACOB KRIEGER, SR.
7 HE oldest savings institution in Louisville is the MASONIC SAVINGS BANK, which was chartered in 1864, the charter being a part of that under which the Masonic Temple Company was organized. The scheme then was to make the bank a savings institution for the Masouic fraternity, and some of the officers of the Grand Lodge of the State were made officers of the bauk, ex officio. But this scheme was never developed, and the bank was not organized until October, 1865, when it operated under a separate charter. At first, however, it was dis- tinctly a Masonic institution, and its stockholders were all Masons. This did not prove remunerative, the balance heiug generally on the wrong side. A change of policy was resolved upon, and a cashier was elected, who reorganized the institution and succeeded, even beyond the expectations of those interested, in making the bank stock a paying in- vestnieut.
The first officers of the bank were : A. G. Hodges, President ; Will- iam Cromey, Henry Wehmhoff, Fred Webber, and F. W. Merz, Direct- ors. Afterward, Mr. Wehmhoff was elected president. On June 16, 1868, the bank was reorganized, Mr. Jacob Krieger, Sr., being made cashier. The following is a statement of the bank on that day :
ASSETS : Office furniture and improvements on banking house $7,- 314.54 ; profit and loss, $9,933.99 ; expense account, $531.62 ; notes and hills discounted, $56. 453-37 ; cash and stamps, $9,208.07 ; due by banks, $6,189.00 ; total, $$9,630.59.
LIABILITIES : Capital, $56,352.50 ; discount and interest, $775.28 ; individual deposits, $28,256.32 ; savings deposits, $4, 125.49 ; divideud, $121.00 ; total, $89,630.59.
The last statement, made June 30, 1887, shows what the bank has accomplished since Mr. Krieger went into it :
RESOURCES : Office furniture, $1,000; bills discounted, $1,045,500.80 ; real estate, $40,917.50; bonds and stock, $115,348.31 ; call loans, $77,885.45 ; cash, $69,976.64 ; due by banks, $63,651.50; suspended debt, $14,615.21 ; total, $1,428,895.41.
LIABILITIES : Capital stock, $250,000; deposits, $1,034,027.84; due to banks, $42,867.35 ; surplus, $75,000; undi- vided profits, $1,696.01 ; fund to pay losses, $14,615,21 ; dividend No. 38, $10,000; dividends unclaimed, $689; total, $1,428,895.41.
The MASONIC SAVINGS BANK has ever since the reorganization paid dividends. It wow pays four per cent. semi- annually. Its capital stock is $250,000 ; its surplus is $75,000. The deposits average about $1,000,000. The bank pays four per cent. on time deposits, and three per cent, on deposits of a full month. The deposits of children and women are free from the control of husbands, fathers, and guardians, and the greater part of the bank's business is in the savings department, but it also does a large commercial business. Its officers now are : Jacob Krieger, Sr., President; Henry Egelhoff, Cashier ; Edwin G. Hall, Henry Peter, Nicholas Miller, W. H. Mcknight, and Jacob Krieger, Sr., Directors.
Mr. Krieger, the President, is eminently a self-made man. He was born in Rhenish Bavaria, in 1826. While still little more than a lad he was imbued with the revolutionary ideas then agitating Germany and France, and in the revolution of 1848-49, took such a part as made his further residence at home exceedingly uncomfortable, being liable to police sur- veillance and frequent annoying arrests. Consequently he came to America. After a few months spent in New York, he came out to Zanesville, Ohio, where he got employment at $6 a month and board. He was there but a few months, when he came to Louisville, where he obtained a place at $9 a month. Then he went into a dry goods store on a salary of $15 a month, which was shortly raised to $25. A man who offered to put up the money induced Mr. Krieger to go into business on his own account. This gentleman, however, did not put up the capital, and the firm failed. The cred- iturs insisted on Mr. Krieger taking entire charge of the business, though they knew he had no money. Mr. Krieger compromised with his creditors, but finally paid $2 for every §t he owed. He afterwards took a clerkship in the dry goods house of Anderson, McLane & Co., and then with Leight & Barret, which place he left to keep books three years for Thomas & Anderson. The war was coming on, and the business of this house began to grow slack. Mr. Krieger foresaw the result of the war, and resigned a position worth $1, 100, to take one in the Merchants' Bank at $25 a month. He remained here four years, making his way rapidly. At the end of that time the Western Bank was organized, and he was elected its first cashier. It was then called the Western Insurance Company. In 1868, as above narrated, Mr. Krieger reorganized the MASONIC SAVINGS BANK, of which he was elected president in 1871.
Mr. Krieger was mainly instrumental in effecting a coup which was one of the most successful pieces of financeer- ing ever known in this city. The L., C. & L. R. R .- the Cincinnati Short Liue-failed in 1874, and the holders of second mortgage bonds, of whom Krieger was one, were left with little chance of being able to recover their money ; he and others formed a pool of second mortgage bondholders, and on October 1, 1877, the managers of the pool bought the road, taking stock in payment for their bonds, and issuing common stock for all debts that came in. The bondholders elected Directors and soon made Mr. Krieger Vice-President of the new company. He was then elected President, and in less than a year effected a sale of the road to the Louisville & Nashville railroad. All those who had gone into the pool got $1.2216 for their stuck, and, instead of losing money, made some.
123
De Pauw's American Plate Glass Works.
0 NE of the largest manufacturing enterprises in the Falls Cities is DE PAUW'S AMERICAN PLATE GLASS WORKS, of New Albany, Indiana, the greatest manufactory in that State and the largest combined manufactory of plate and window glass and glass jars in this country, possibly in the world. Few of the mechanical industries have presented the difficulties to the manufacturer that the making of plate glass has. The experiments in this line were for a long time disastrous iu this country. After a number of failures had been made and many thousands of dollars expended, some Boston and New York capitalists undertook to make plate glass at Lennox, Massachussetts. They in- vested considerably more than $1,000,000 and fiually sold their works for $75,000, after having made plate glass for several years at a great loss. Many other similar enterprises met the same fate, among them oue in Louisville, which was finally bought by Mr. W. C. De Pauw, who was already interested in glass works in Indiana.
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