History of Oakland County, Michigan, with illustrations descriptive of its scenery, palatial residences, public buildings, fine blocks, and important manufactories, Part 12

Author: Durant, Samuel W
Publication date: 1877
Publisher: Philadelphia, L. H. Everts & co.
Number of Pages: 553


USA > Michigan > Oakland County > History of Oakland County, Michigan, with illustrations descriptive of its scenery, palatial residences, public buildings, fine blocks, and important manufactories > Part 12


Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).


Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | Part 16 | Part 17 | Part 18 | Part 19 | Part 20 | Part 21 | Part 22 | Part 23 | Part 24 | Part 25 | Part 26 | Part 27 | Part 28 | Part 29 | Part 30 | Part 31 | Part 32 | Part 33 | Part 34 | Part 35 | Part 36 | Part 37 | Part 38 | Part 39 | Part 40 | Part 41 | Part 42 | Part 43 | Part 44 | Part 45 | Part 46 | Part 47 | Part 48 | Part 49 | Part 50 | Part 51 | Part 52 | Part 53 | Part 54 | Part 55 | Part 56 | Part 57 | Part 58 | Part 59 | Part 60 | Part 61 | Part 62 | Part 63 | Part 64 | Part 65 | Part 66 | Part 67 | Part 68 | Part 69 | Part 70 | Part 71 | Part 72 | Part 73 | Part 74 | Part 75 | Part 76 | Part 77 | Part 78 | Part 79 | Part 80 | Part 81 | Part 82 | Part 83 | Part 84 | Part 85 | Part 86 | Part 87 | Part 88 | Part 89 | Part 90 | Part 91 | Part 92 | Part 93 | Part 94 | Part 95 | Part 96 | Part 97 | Part 98 | Part 99 | Part 100 | Part 101 | Part 102 | Part 103 | Part 104 | Part 105 | Part 106 | Part 107 | Part 108 | Part 109 | Part 110 | Part 111 | Part 112 | Part 113 | Part 114 | Part 115 | Part 116 | Part 117 | Part 118 | Part 119


The population reached the culminating point in 1870, when it stood at forty thousand six hundred and eighty-seven, by the United States census ; an increase of only about five per cent. for the decade. The war of the Rebellion drew off over three thousand six hundred who entered the army, and, no doubt, many more who left the county for various reasons. In 1874, according to the State census of that year, the population was thirty-eight thousand and forty-two, show- ing an actual falling off during the ten years of two thousand six hundred and forty-five. This was owing to a variety of causes. The return of peace brought with it a redundant currency, and great activity in various departments of indus- try, more particularly in the direction of railway enterprise. Many of the young men sought new fields of adventure in the west; the business built up by the war at Pontiac gradually fell off, and the tendency among the smaller farmers of the county was to sell and remove to a region where they could get cheap lands. The agricultural interests of the county have not by any means diminished, but the heavy land-owners are constantly buying out the weaker ones, and the lands of the county are being consolidated in fewer hands; and while the actual wealth of the various townships is undoubtedly increasing, yet the population is, for the reasons assigned, slowly diminishing. There is no probability that the rural population will increase; on the contrary, it will most likely diminish to a still smaller figure, and another decade will see the agricultural interests of Oakland County still more concentrated, but with an increase of capital and productiveness.


Improved breeds of all kinds of stock and every variety of improved farm machinery are being introduced, and the farmer of the future will be enabled to realize the greatest amount of production with a minimum of manual labor. The city of Pontiac has a very large trade, but the growth of Holly, Rochester, Oxford, and other points, will tend to divide it somewhat, and her business men can hardly hope for an increase except they encourage local manufactures. A judicious outlay of capital in this direction would undoubtedly result advanta- geously to the interests of the place.


Surrounded by a rich agricultural region, and beautifully situated, it needs but careful management to become one of the most flourishing inland cities of the interior of the State. The grain crops of the present year are bountiful beyond


* A portion of this time the cars were run upon wood "ribbons."


HISTORY OF OAKLAND COUNTY, MICHIGAN.


35


precedent. As a contrast to the present populous and flourishing condition of the county we append a few figures and statements for the year 1825, when the population was estimated at thirteen hundred and sixty-two.


The " Pontiac company" was taxed upon one hundred and eighty-six lots in and around the village of Pontiac, upon a valuation of eleven thousand dollars. In Pontiac and Auburn there were forty-six lots taxed to individuals. At that date there were in the county two hundred and eighty-two houses, forty-seven barns, and two thousand six hundred and twenty-one acres of improved land.


Major Oliver Williams, Colonel Stephen Mack, and John Sheldon were taxed on sixty acres each of improved lands, being the only ones in the county who could boast of that amount.


POLITICAL.


The political sentiments of the people of Oakland County, in the past and present, may be known by the result of the several presidential elections in which they have participated, beginning with the noted campaign of 1840, when Har- rison and Van Buren were the standard-bearers of the Whig and Democratic parties respectively.


At this election the vote was as follows, by townships :


Whig.


Demoerat.


Abolition.


Total.


Avon ...


185


148


342


Addison ...


25


67


92


Bloomfield


143


159


302


Brandon ...


46


39


85


Commerce.


86


96


1


183


Farmington


207


143


5


355


Groveland


85


47


132


Holly.


25


56


90


Highland


57


55


112


Independence


44


121


165


Lyon ...


133


111


244


Milford


104


63


167


Novi


181


112


293


Orion.


50


107


157


Oakland


63


107


170


Oxford


77


Pontiac


178


211


7


396


Royal Oak


92


81


Rose


37


4.5


...


82


Springfield


84


31


115


Southfield


108


86


194


Troy


157


134


291


Waterford


64


115


179


West Bloomfield.


77


102


179


White Lake


45


60


+ 4


109


Total


2353


2365


26


4744


At the election of 1844, the Democratic vote was 2833; the Whigs numbered 2225; and the Abolitionist seed had grown into a crop of 377 votes-making a total cast of 5435. In 1848, the Democrats polled 2781, the Whigs 1942, and the Free-soilers 694 votes. In 1852, the Democratic poll numbered 3178, the Whigs tallied 2376, and the Abolitionists cast 552 votes-the total footing up 7006 votes. In 1856, the Republicans cast 4105 votes, the Democrats 3276, and there were 81 votes scattering-7462 in all. In 1860, the Republican vote was 4411, the Democratic 3768, and scattering, 102-a total of 8281 votes. In 1864, the Democratic vote was 3816, and the Republican 3709-a total of 7525. In 1868, the Republican vote was 4737, and the Democratic 4442-total, 9179. In 1872, the Republicans polled 4490 votes, the Democrats gave Mr. Greeley 3327, O'Conor received 202, and Black 76-total poll, 8095 votes. In 1876, the poll in the several townships was as follows :


Rep.


Dem.


Cooper.


Smith.


Total.


Addison .


75


184


1


260


Avon.


251


248


23


...


Bloomfield


270


216


...


9


381


Commerce.


193


170


...


...


363


Farmington ..


269


181


4


454


Groveland


150


135


2


287


Highland


208


119


5


2


332


Holly


292


324


2


618


Independence


135


246


381


Lyon.


231


119


4


356


Milford.


285


275


568


Novi.


244


146


390


Oakland


74


193


1


270


Orion


110


341


Oxford ..


217


508


Pontiac township.


87


167


...


3


299


Royal Oak


210


150


360


Southfield


178


175


5


2


360


Springfield.


211


123


5


...


346


West Bloomfield.


124


160


...


...


284


White Lake .


97


182


...


...


-


Total


5053


5313


41


37


10,446


POPULATION OF THE COUNTY.


The population of Oakland County for different periods since its organization has been as follows :


Total Population.


Colored.


In 1820


330


9


" 1830.


4,910


19


" 1840.


23,646


56


" 1850.


31,270


64


" 1854 (by State census).


31,757


" 1860 (by United States census)


38,261


309


" 1864 (by State census).


35,625


.....


" 1870 (by United States census).


40,867


" 1874 (by State census).


38,042


290


The falling off from 1860 to 1864 was no doubt a consequence of the war, though the number of troops credited to the county-three thousand six hundred and forty-four-does not equal the apparent difference.


The relative rank of the county in 1854 was second in the State; in 1864, fourth ; in 1870, fifth ; and in 1874, seventh.


CENSUS OF THE COUNTY FOR 1874, BY TOWNSHIPS.


Addison


987


Oakland


972


Avon ..


1856


Orion


1186


Bloomfield


1912


Oxford.


1342


Brandon


1170


Pontiac township.


1021


Commerce,


1276


Pontiac city


3651


Farmington.


1791


Rose ..


1084


Groveland


1095


Royal Oak


1542


Highland


1267


Southfield


1451


Holly


2507


Springfield


1247


Independence.


1274


Troy ...


1550


Lyon ...


1271


Waterford


1231


Milford.


2069


West Bloomfield


1046


Novi.


1282


White Lake.


1002


Total.


.38,082


The estimated population of the county for various other periods, based upon the votes, was as follows :


1825, vote 454; population 1362. 1829, vote 589; population 1767. 1835, vote 1478; population 7390.


LANDS. 1


The total area of Oakland County, supposing every section to be full, is nine hundred square miles, or five hundred and seventy-six thousand square acres. According to the State census of 1874 there were five hundred and thirty-six thousand eight hundred and fifty-eight acres of taxable land, with sixteen hun- dred and sixty-two acres exempt from taxation. The four hundred and fifty lakes of the county cover an approximate estimate of twenty thousand acres. The balance of the calculated area, amounting to seventeen thousand four hundred and twenty acres, is accounted for by the fractional sections along the west side of each township, which diminish, as they get farther from the base-line, by the areas of c mill-ponds not estimated, by discrepancies in surveys, etc.


The area of improved lands, according to the same authority, was three hun- dred and thirty-one thousand one hundred and sixty-six and one-quarter acres. The number of farms in the county was four thousand two hundred and fifty- three, and the number of acres included in them four hundred and twenty-five thousand six hundred and seventy-seven, making an average to each farm of one hundred and one-eighth acres.


The kinds of land exempt from taxation are homesteads settled not more than five years, school-building sites, church and parsonage sites, cemeteries, owned by persons unable to pay taxes, railways, public parks, fair-grounds, and sites for library, scientific, benevolent, and charitable institutions.


The total value of these exempt lands in Oakland County, including improve- ments, was, in round numbers, five hundred thousand dollars .* There appears to have been in 1874 one homestead of forty acres exempt.


AGRICULTURAL PRODUCTIONS.


Oakland County stands deservedly high in its agricultural productions, though its apparent standing, as compared with other counties in the State, is largely owing to its greater area. it being the largest in the lower peninsula, with the single exception of Sanilac, which is comparatively a new county, with a much larger proportion of waste land.


. In the production of wheat for 1873 (the latest statistics), it ranked third, Calhoun and Washtenaw exceeding it. In the production of Indian corn it stood sixth, the counties exceeding it being Calhoun, Hillsdale, Jackson, Lena- wee, and Washtenaw. In all other grains it ranked number one. In the pro- duction of potatoes it stood at the head of the list. In the number of tons of hay cut it ranked third, Jackson and Lenawee exceeding it. In wool it stood second, Washtenaw alone exceeding it. In pork it was ninth, the counties of Berrien, Branch, Calhoun, Cass, Hillsdale, Kalamazoo, Lenawee, and St. Joseph exceeding it. Its cheese product stood second, Lenawee only exceeding it. In butter it was also second to Lenawee county.


...


Troy ..


257


132


394


Waterford


127


214


...


5


254 1032


Pontiac city


442


587


...


Rose.


142


157


...


...


...


: #10 5


3 : 0 00


488


Brandon.


174


198


...


...


...


...


...


.


60


...


137


173


...


X


...


...


287


225


:264 6 4


334


279


* This does not include the new State insane asylum.


7


: 0


522


2


36


HISTORY OF OAKLAND COUNTY, MICHIGAN.


The total productions of the county under this head, for the year 1873, were as follows :


Wheat, bushels, 846,714 ; corn, bushels, 945,533 ; all other grains, 879,291; potatoes, bushels, 332,106; hay, tons, 54,648; wool, pounds, 595,180; pork marketed, pounds, 2,092,097; cheese made, pounds, 263,057; butter made, pounds, 1,824,391 ; dried fruit for market, pounds, 64,774; cider made, barrels, 10,307 ; wine, gallons, 480; maple sugar, in 1874, pounds, 22,800.


PRODUCTIONS OF ORCHARDS, VINEYARDS, AND GARDENS.


In acreage of orchards Oakland County stood second, having 12,932, and Berrien, 14,001. In the cultivation of the vine it is reported as having only 19+ acres in 1873; in berries and small fruits it had 53 acres, and in melons and garden vegetables 360 acres, standing fourth in the list, Berrien, Eaton, and Wayne exceeding it.


The productions in this branch of industry for 1872 and 1873 (part of the various crops being given for these years) was as follows :


Apples, bushels, 517,642, being the largest amount produced by any county in the State, Lenawee coming next with 404,000 bushels; peaches (a very small showing), 287 bushels; pears, 3824 bushels, being second to Berrien only, the latter producing 9591 bushels ; cherries, 8415 bushels, being the largest amount reported in the State; grapes (small), 399 hundredweight; strawberries, 603 bushels ; currants and gooseberries, 522 bushels ; melons and garden vegetables, 55,203 bushels, being second only to Wayne county. The total value of all fruits and garden vegetables was $184,884, being the fifth in the State, Berrien, Hillsdale, Lenawee, and Wayne exceeding it.


LIVE-STOCK.


Oakland also ranks high among her sister counties in the production of live- stock, standing first in the number of horses, second in milch cows and sheep, and tenth in swine.


The number of the various kinds of animals in the county in 1874 was as follows : horses, one year old and over, 14,136; mules, 149; work oxen, 333; milch cows, 14,397.


Neat cattle, one year old and over, excluding oxen and milch cows, 11,626; swine, over six months old, 13,698; sheep, over six months old, 126,370; sheep sheared in 1873, 128,193.


MANUFACTURES.


In the line of manufactures Oakland County does not rank very high, owing largely to her lack of heavy water-power; nevertheless, she is credited with the largest number of flouring-mills of any county in the State,* and makes a very respectable showing in several other branches. The total number of manufac- turing establishments in the county in 1874 was one hundred and four, of which thirty-five were operated by steam, fifty-two by water-power, and the remainder by other power. They employed three hundred and eighty-eight hands; had a capital of five hundred and forty-nine thousand two hundred dollars invested, and turned out a value in finished work of one million two hundred and ninety- two thousand one hundred and ninety-six dollars. t


THE OAKLAND COUNTY AGRICULTURAL SOCIETY.


A society by the above name was organized October 6, 1830, with the follow- ing officers: Hon. Wm. Thompson, president; Amos Mead and S. V. R. Trow- bridge, vice-presidents ; Calvin Hotchkiss, John W. Hunter, Joseph Morrison, Oliver Williams, Abner Davis, Ezra Rood, Erastus Ingersoll, directors; and Cyrus A. Chipman, secretary and treasurer. The society adopted a lengthy constitution and set of by-laws, and never met again.


.


On the 22d day of February, 1838, another society was organized under the same name, with the following officers : Amos Mead, president ; Samuel Satterlee, 1st vice-president ; Amasa Andrews, 2d vice-president; John Goodrich, recording secretary ; Geo. W. Wisner, corresponding secretary; Wm. Draper, treasurer ; Hiram Barrett, of Commerce, John Hibbard, of West Bloomfield, Joseph Morri- son, of Pontiac, S. A. L. Warner, of Farmington, and Wm. Thompson, of Avon, directors. This society also adopted a constitution, and decided to hold a fair October 31, 1838, and offered ninety-eight dollars in premiums ; but the induce- ments did not appear to be sufficient to get the people interested, as no fair was held, so far as report goes, and no other was called, and the society again lapsed.


On the 17th of January, 1842, another society was organized under the same name, with the following officers: Amos Mead, president; Joseph Morrison, S. V. R. Trowbridge, and Daniel Windiate, vice-presidents ; Seth Beach, secretary ; O. D. Richardson, treasurer; and the following board of managers: Nathan


Bower, of Farmington, E. R. Kearsley, of Avon, John W. Hunter, of Bloomfield, John F. Hamlin, of Avon, John Emery, of Novi, J. B. Davis, of Pontiac, Asahel Fuller, of Springfield, W. G. Stone, of Troy, Clark Johnson, of Independence, and D. F. Johnson, of Holly. They did not adopt a constitution, but it made no difference, no report of any further business being done is to be found.


In 1849 an organization was effected on July 7, under an act of the legislature, approved April 16, 1849, for the encouragement of agriculture, manufacturing, and mechanical arts. Horatio N. Howard was the secretary and Asa B. Hadsell treasurer. The first fair was held October 9, 1850, and five hundred and fifty dollars in premiums were paid, among them the following first awards : On cattle, J. B. Ward, best short-horns ; J. L. Brownell, best Devons ; Daniel Whitfield, best working oxen. Horses, Luman Fuller, best stallion and best pair matched horses ; Wm. White, best brood-mare; F. A. Williams, best merino sheep ; Wm. Whit- field, best boar ; Jno. Valentine, best breeding sow ; M. B. Smith, best plow ; John Windiate, best butter; John Griffith, best cheese ; Mrs. G. W. Collins, best pair wool blankets ; Mrs. Perry, best needlework ; L. Bronson, best and greatest variety apples.


At the fair of 1851 Hon. J. B. Hunt delivered an address, and that year the board of supervisors appropriated two hundred and twenty-five dollars for the assistance of the society, and in each succeeding year since that time a tax has been levied or an appropriation made of greater or less amount, in furtherance of the objects of the society.


At the fair of 1876, held in the early part of October, there were premiums awarded to the amount of $1033, distributed as follows : On cattle, $266; horses, $260 ; sheep, $97; swine, $19; sheep, $13; carriages and farming implements, $85; miscellaneous articles, $69 ; needlework and embroidery, etc., $95 ; natural flowers, $23; domestic arts, $69; fruits and vegetables, $45; wine, $8; grain, $14. The society have obtained and prepared in a convenient and suitable manner ample grounds in the city of Pontiac, which are easily accessible and comfortable for exhibitors and their animals. The society is prospering, and creating yearly more interest in the objects for the encouragement of which it was organized.


BANKING.


The first bank of issue established in Oakland County was the Bank of Pontiac, which was a franchise of the Detroit and Pontiac Railroad Company, given the company by charter approved March 26, 1835, which charter allowed the railroad incorporators, or their successors, to locate and operate a bank of issue, under the name of the Bank of Pontiac, at Pontiac, with a capital of one hundred thousand dollars. The books for the subscription to the capital stock of the bank were opened on the 26th day of May, 1835, in Pontiac, and the whole amount, less one thousand dollars, taken, and ten per cent. in cash paid in on the same day. Bank-notes were shortly after put into circulation. On the 26th of July, 1836, the bank, by Sherman Stevens, cashier, called for the payment of ten five per cent. instalments, to be paid in on the stock subscriptions between Sep- tember 22 and October 3 of that year. During the suspension of specie pay- ments in the panic of 1837, the bank of Pontiac redeemed its bills in specie for a time, after all the other banks in the State had suspended. It finally collapsed, but was resuscitated by one Joseph Dows for a time, and E. B. Comstock became connected also with it; but it made a final exit after a short period, and the cur- tain dropped upon it forever.


The " wild cat" system, as the general banking law of 1837 was called, pro- duced six or more of the " failures" which depredated on the good people of Oakland County, four of them having their haunts in Pontiac, one in Auburn, and one in the rural solitudes of Troy.


The first one was " kittened" in July, 1837, and was yclept the Bank of Oak- land. It had a capital of fifty thousand dollars, and its board of directors was as follows : Daniel Le. Roy, president ; G. O. Whittemore, cashier ; Schuyler Hodges, C. C. Hascall, Amasa Bagley, Olmstead Chamberlain, G. W. Williams, and Francis Darrow.


This was soon followed by another, called the Farmers' and Mechanics' bank, with a capital of fifty thousand dollars, of which Schuyler Hodges was president, G. W. Williams cashier, and G. O. Whittemore teller.


In December, 1837, the Clinton Canal bank was established with the same amount of capital, Wm. S. Stevens being president and Alfred Treadway cashier of the institution.


In the early part of 1838 the Farmers' Bank of Oakland and the Bank of Auburn, each having a capital of fifty thousand dollars, were successively and successfully inaugurated, and all were issuing promises to pay, which the people, with more or less misgiving, received, and called money, and proceeded to cir- culate it as such as fast as possible. The circulatory power of the felidae proved to be of but short duration, as they all suspended payment in 1838, on the de- cision of the supreme court relieving the stockholders from any liability touch-


# Thirty-three mills.


t See history of the various villages, cities, and townships.


37


HISTORY OF OAKLAND COUNTY, MICHIGAN.


ing the redemption of the bills of the banks. The Clinton Canal bank was reported in good standing with the State institutions in June, 1838; but in Octo- ber it was enjoined against further operations, and S. Beach appointed receiver of its assets.


The Farmers' and Mechanics' went by the board July 9, 1838, Wm. Draper being appointed receiver therefor, and the others were wound up shortly after. Samuel York, at Lee, was the receiver of the Farmers' Bank of Oakland.


THE SAFETY FUND SYSTEM


produced one bank only,-the Oakland County bank,-which was chartered April 28, 1836, and on the 2d of December, 1842, called in ten per cent. of the stock, being the first business done. An injunction had been laid upon its operations, but was dissolved, and the bank continued its business. On the 1st of March, 1843, its published statement exhibited the following as the condition of the bank :


Discounts.


.. $6,120.65


Exchange maturing in New York


3,633.28


Personal property.


3,681.75


Profit and loss.


6,302.19


Specie-paying


nk-notes.


10,512.79


15,336.79


Total assets


.. $35,074.66


Liabilities-capital stock


.. $25,000.00


Deposits


Circulation


$35,064.66


Excess of assets over liabilities other than to stockholders ..


. $18,697.81


J. L. Severance was the cashier.


In July, 1843, the bank statement showed the discounts to be $11,242.75, and its coin and notes of specie-paying banks and New York exchange $18,485.64, and its circulation had increased to $17,685. In August, F. A. Williams was president, A. B. Mathews and G. W. Rogers directors, and in October Norman Rawson was cashier. The real owner and operator of the bank, however, was one Wesley Truesdell, who also owned the Monroe bank, which he removed to Detroit and operated. The Oakland County bank suspended in 1846, after it had succeeded in getting out a large amount of circulation in Detroit. There were little or no deposits in the bank at the time of its failure, and the only loss that was incurred by its suspension was by those who held its promises to pay, in the shape of bills. The charter was repealed in 1847, and two years given the bank to close up its affairs.


No other banks of issue were established in the county until the National banks were founded under the national banking law. There are four of these sound and popular institutions in the county, established, officered, and operating as follows :


THE FIRST NATIONAL BANK OF PONTIAC,


which was organized April 29, 1864, with a capital of fifty thousand dollars, which has since been increased to one hundred thousand dollars. The first board of directors were W. H. Perry, Charles R. Durand, Theron A. Flower, Joseph R. Bowman, and Milton Seaman. Mr. Perry was elected the first president of the bank, but never qualified, and Mr. Flower was elected, but immediately resigned, and E. B. Comstock was elected in July, 1864. Milton Seaman was elected the first vice-president, and Chas. R. Durand the first cashier. The bank began busi- ness May 28. A. Gustin was elected vice-president in August in place of Sea- man, and Mr. Durand and Mr. Comstock resigned, and Jas. Andrews was elected president and Comstock cashier. The officers remained unchanged through 1866 and 1867. The first dividend. was paid to stockholders May 2, 1865, and was eight per cent. on the first fifty thousand dollars and three per cent. on the second fifty thousand dollars of capital. The capital stock was increased in April, 1865. In 1868, E. W. Peck was elected president, Chas. Dawson vice-president, and Mr. Comstock cashier. In 1869, Mr. Dawson was promoted to the presidency, D. R. Shaw was made vice-president, and Mr. Comstock was retained as cashier, and A. H. Comstock given the position of assistant cashier, and there was no change in the officers until 1874, when David Ward was elected president, Edw. W. Peck vice-president, Chas. Dawson cashier, and Henry J. Gerls assistant cashier. In 1875 the vice-presidency was changed only, W. W. Gray coming in. In 1876, Mr. Gray succeeded to the presidency, and J. D. Norton came into the vice-presidency. In 1877, Mr. Dawson changed the cashier's chair for the president's, and Mr. Norton to the vacated chair, Reuben Adams being called to the vice-presidency, Mr. Gerls remaining the courteous assistant. The semi-annual report of the First National, made July 1, 1877, shows the total net profits of the bank to have amounted to $154,448.16, of which $132,625 have been paid to stockholders, $20,000 passed into the account of surplus funds, and $1823.16 remain as undi- vided profits. The following quarterly statement, published in July, 1877, shows the condition of the bank at the close of business, June 22, 1877 :


RESOURCES.


Loans and discounts ..


.$190,403.72


Overdrafts.




Need help finding more records? Try our genealogical records directory which has more than 1 million sources to help you more easily locate the available records.