USA > Minnesota > Polk County > Compendium of history and biography of Polk County, Minnesota > Part 21
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In 1908 Messrs. Simons & Bourdon became the own- ers but continued under the old name and with only minor changes in its management until May, 1912, L. C. Simons being the president, Chas. N. Bourdon, vice president, and Edward Randklev, cashier.
May 27, 1912, the bank was purchased by loeal men, some fifty-five of them, nearly all farmers, becoming
stockholders. They elected J. O. Ilovland president, HI. A. Loitten vice president, and A. I. Solberg cashier, and in December following the name was changed to the Farmers State Bank of Winger, the capital stock being increased to $12,500. At that time the bank had a surplus of $2,500 and deposits amounting to $50,000. At the present time (1915) the officers and the capital stock are the same as in 1912, the surplus is $3,500 and the deposits are $150,000. Loans and discounts amount to $140,000. The bank building was erected in 1905.
FIRST STATE BANK OF MENTOR.
The First State Bank of Mentor was established in 1901, as a private bank, by A. D. Stephens and Joseph Tagley and operated as such until 1908, when it was incorporated as the First State Bank of Mentor, with a capital of $10,000. The president, A. D. Stephens, Joseph Tagley as cashier, M. Tagley, vice president, and Nels Paulsberg, assistant cashier, the first three comprise the board of directors and are the owners of the stoek. Mr. Tagley, in the capacity of cashier, has directed the management of the bank in its pros- perous activities as the financial center of business enterprise in Mentor. The present capitalization of the bank is the original amount, with a surplus of $2,000 and deposits of about ninety thousand dollars. Aside from general banking interests, the State Bank maintains a real estate ageney and deals in insurance. The brick structure which it occupies was ereeted in 1901 and is equipped with modern banking facilities.
CITIZENS STATE BANK OF FERTILE.
The Citizens State Bank of Fertile, one of the most prosperous banking institutions of northwestern Min- nesota, was organized on December 7, 1904, as the successor of the Citizens National Bank, which, in turn had succeeded the Citizens Bank in 1901. The latter corporation had been effected in 1897 by Lewis Lar- son, of Britt, Iowa, M. B. Dahlquist, and B. E. Dahl- quist of Forest City, Iowa, Louis Ellington, of Crooks- ton and M. J. Pihl, of Wells, Minn., and these men
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COMPENDIUM OF HISTORY AND BIOGRAPHY OF POLK COUNTY
continued their association with the institution upon its reorganization into a National bank, merging their interests with several others. The Citizens National was incorporated with a capital of $25,000 and Lewis Larson became president of the board of directors, Mr. Ellington and Mr. Pihl, vice presidents and Mr. M. B. Dahlquist, cashier, and B. E. Dalilquist assist- ant cashier. In 1904 K. J. Taralseth and O. H. Taral- seth, of Warren, Minn., Mr. Ellington, and Ed Mosse- fin and A. P. Hanson, of Fertile, took over all the assets and the building of the Citizens National and organized the Citizens State Bank, with a capital of $15,000. The able direction of its affairs, which has resulted in unusual benefit to the stockholders and a wide popularity in financial circles, lias been under the management of Mr. Mossefin and Mr. Hanson, as resident stockholders and officers. Mr. Mossefin be- came president of the bank in 1911 and Mr. Hanson has served as cashier from the start. O. H. Taralseth is the present vice president. The bank's interests are housed in a fine modern brick building of two stories. which was erected in 1901 and is splendidly furnished with all modern conveniences, including reinforced conerete vanlts and safety deposit boxes for individual nse. The second floor is utilized for office room. The bank engages in general banking business, making loans on real estate and also are writers for several lines of fire and cyclone insurance. The substantial condition of its affairs appears in the recent statement issued of a surplus and undivided profits of $9,000 and deposits of $180,000.
FARMERS STATE BANK OF FERTILE.
The Farmers State Bank of Fertile was organized September 6, 1912, through the co-operation of a num- ber of prominent business men and farmers and has enjoyed a steady prosperity in all its activities, con- tributing notably to the accommodations afforded by the splendid financial institutions of Polk County. The men who were associated in the establishment of the bank and who composed the first board of direet- ors were James F. ITanson, Martin G. Peterson, An-
ders O. Morvig, Ole HI. Vidden, Nels Clementsen, Albert O. Gullickson, E. G. O. Hoglund, A. L. Hov- land and Ilans Paulsrud. The latter, who had been the assistant cashier in the First State Bank for a number of years, was made cashier of the new bank and in that position has continued to capably direct its affairs. The bank was incorporated with a capital of $25,000, with James F. Hanson as president and Nels Clementsen, vice president. In 1913 the present fine modern banking building was erected and excel- lent fixtures installed, making it a worthy addition to the business district of Fertile. The stock in this corporation is owned by the above-mentioned direct- ors, which is the present executive body with the exception of Andrew Hoffe who has been elected in place of E. G. Hoglund and Andrew Peterson, in place of James F. Hanson, and some ninety share- holders, most of whom are local farmers. Nels Clementsen has succeeded Mr. Hanson as president and Albert O. Gulliekson is vice president, with Mr. Paulsrud retaining his position as cashier, with Ole Lutnes as assistant. The latest statement issued by the bank reports a surplus of $5,000, with the original capital of $25,000, deposits aggregating $232,000 and loans of $210,000.
FIRST NATIONAL BANK OF EAST GRAND FORKS.
The First National Bank of East Grand Forks, an important banking house of which Polk County is justly proud, has been materially identified in all its activities with home industries and development, its record of noteworthy prosperity having advanced steadily with the growth of the country. It was or- ganized in 1890 as the Bank of East Grand Forks with a capital of $25,000 and its first officers were William Busge, president; Alex Griggs, vice presi- dent ; and E. R. Jacobi, cashier. In the following year reorganization into a national bank was effected and the capital stock doubled. Alex Griggs was made pres- ident of the board of directors, E. R. Jacobi, vice president, and W. H. Pringle, cashier. The other members of the board were Ole Lukkason, C. Madson,
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COMPENDIUM OF HISTORY AND BIOGRAPHY OF POLK COUNTY
B. A. Griggs, Paul Hagen and Robert Jarvis. The excellently equipped and modern banking building which houses its interests was erected in 1893 at the cost of $15,000 and aside from the commodious quar. ters provided the bank, furnishes office space in the basement and second story. The present board of directors was elected in 1905, with E. Arneson as pres- ident, J. R. Johnson, vice president, and G. R. Jacobi, cashier and the other members, J. H. MeNicol and August Nelson. The stockholders of this institution include many of the influential citizens of East Grand Forks, men whose successful careers have been identi- fied with the interests of the community and its policy of administration has always rendered it a strong financial support to local enterprise. During the twenty-three years of its operations this bank has not foreclosed a mortgage and pays four per cent interest on savings deposits, a record which is loyally rewarded by the extensive patronage extended it by the farmers and business men of the district and which is one of the ways in which its management has demonstrated its keen interest in the development of the farming community tributary to East Grand Forks. The First National is a member of the Federal Reserve Banks and is allied with the important banking activities of the country, selling drafts payable in all the principal cities of the world. Its present substantial standing is attested to with deposits of some three hundred and fifty thousand dollars and surplus of $10,000.
Condensed report of the condition of the First National Bank, East Grand Forks, Minnesota, at close of business, November 10, 1915 :
RESOURCES.
Loans $303,419.89
Overdrafts
2,219.68
U. S. Bonds.
37,500.00
Stock, Federal Reserve Bank.
Real estate 1,800.00
24,800.00
Banking house 14,500.00
Redemption fund
1,875.00
Cash
149,602.87
Total 9
$535,717.44
LIABILITIES.
Capital
$ 50,000.00
Surplus and profits.
10,906.36
Circulation
37,500.00
Deposits
437,311.08
Total
$535,717.44
They pay 4 per cent on savings, 4 per cent for six months and 5 per cent for twelve months on time cer- tificates. E. Arneson, president ; J. R. Johnson, vice president ; G. R. Jacobi, cashier.
STATE BANK OF FISHER.
The State Bank of Fisher is one of the pioncer banking institutions of that region and has been iden- tified for many years with the prosperity and the more substantial progress in Polk County, the history of its activities being marked with notable success and able management and a large and steadily increasing patronage among the citizens of that district. The bank was first organized as a private bank, in 1879, by Hugh Thompson and Frank DeMers. Subse- quently Marcus Johnson bought out the interests of the other stockholders and he has continued to main- tain a prominent and active interest in the bank. In 1896 after the unfortunate death of the cashier, Mar- tin Sanaker, by suicide, the bank was reorganized as a State bank, with a capital of $10,000. Gunder Kros- tue was made president and Marcus Johnson and S. Torrison were the stockholders and directors. The first cashier of the new state bank was Ed Kingsland, who served in that capacity until his removal west, when he was succeeded by Andrew O. Stortroen, the present occupant of the position, who is also a stock- holder and a member of the board of directors. Upon the death of Mr. Krostue in 1912, Marcus Johnson succeeded to the office of president and has since capably directed the administration of its affairs, which include the many interests accruing to the $200,- 000 of deposits and loans of some one hundred and fifty thousand dollars. The bank occupies the build- ing which was erected for its use in 1879.
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COMPENDIUM OF HISTORY AND BIOGRAPHY OF POLK COUNTY
FARMERS MUTUAL INSURANCE COMPANY.
The Farmers Mutual Insurance Company, with office at Fertile, is one of the co-operative enterprises of this section which attests to the enterprise of its citizens and has proved of benefit to local interests. The company has met with an extensive patronage in Polk and Norman Counties, the territory cov- ered by its operations, and has over nine hundred policy holders with $1,677,629 insurance in foree. Through the disinterested service of the men who have been identified with the organization as officers, the expense of operation has always been small, a faet which has contributed to the rapid growth and prosperity of the company. It was incorporated in 1891 by O. P. Renne, Hans Juelson, T. II. Nesseth and Martin G. Peterson. The articles of incorporation were drafted by Mr. Peterson, who has been active in the direction of company's affairs as treasurer and secretary.
FIRST STATE BANK OF BELTRAMI.
The First State Bank of Beltrami, one of the most substantial banking houses in the county, was organ- ized in 1905, as the sueeessor of the Bank of Beltrami, a private bank which had been in operation sinee 1901, when it was established by William Mathews, with D. E. Fulton as cashier. In 1903 C. C. Heath and H. H. Reed became the owners and continued for two years when it was organized as a State bank with a capital of $10,000. J. W. Wheeler, president ; E. M. Walsh, viee president ; and C. C. Heath, eashier, com- posed the first board of directors, which was replaced in 1914 by the present board, with J. W. Wheeler as president, C. C. Heath, first viee president, E. M. Walsh, seeond vice president, and T. O. Hafdahl, eash-
ier, with II. A. Wilson as assistant. This bank ranks high among the financial institutions of northern Min- nesota and handles an important share of Polk County business. It occupies one of the most handsome and finely appointed country bank buildings in the county, a briek structure, equipped with modern banking con- veniences, with time-locked vaults and safes, which was ereeted in 1914 at an expenditure of $10,000. The bank reeeives deposits amounting to $160,000 and ear- ries a surplus of $5,000 and undivided profits, $4,000. The man most thoroughly identified with prosperous transactions of this institution is C. C. Heath, who has directed its management as owner, eashier and viee president during the last twelve years. Mr. Heath came to Beltrami in 1903, when he became an owner of the bank and is widely known in financial eireles through the eminent snecess of his able and enterprising career and enjoys the respect and confi- dence of his associates, who are among the leading finaneiers of northern Minnesota. Mr. Heath is that type of aggressive and broad-minded eitizen, whose influence and efforts extend beyond his private inter- ests to the publie progress and the prosperity of the commonwealth. Another flourishing enterprise of ex- tensive operations with which he is prominently asso- eiated as organizer, president and manager is the Heath Investment Company, a corporation organized in 1914, with a capitalization of $50,000, which en- gages in the buying and selling of real estate and com- mereial interests and owns and operates some three thousand acres of farm land near Beltrami. J. W. Wheeler and E. M. Walsh are associated with him in this sueeessful activity also, Mr. Wheeler being viee president and Mr. Walsh, secretary. Mr. Heath is a native of Delaware County, Indiana.
BIOGRAPHICAL DEPARTMENT
.
Frilliam Mass
HON. WILLIAM WATTS.
The subject of this sketch has been judge of the District Court for the last seventeen years, having been elected to that position in 1898 and twice since that time without opposition. He ranks among the ablest of the district judges in Minnesota. Before becoming judge he was county attorney of Polk county, city attorney of Crookston, a member of its city council twelve years, member of the school board and referee in bankruptcy. He was born June 9, 1850, in Stanley, Huron county, Ontario. His father was Matthew Watts, a native of Yorkshire, England, who came to Canada in 1842 and his mother, Ilannah (Simpson) Watts of Cumberlandshire, England, who came in 1832 at the age of six years. They settled in the backwoods near the shore of Lake Huron in 1848, enduring the hardships of pioneers who make farms from heavily timbered lands with their own hands, and there they are buried, the father dying in 1854 at the age of thirty-four years and his wife in 1912 at the age of eighty-six.
Judge Watts received his education in the common
schools and worked at farming, lumbering and teach- ing school in Ontario, Michigan, Wisconsin and Min- nesota until 1875 when he entered the law department of the University of Michigan, graduating therefrom in 1877 with the degree of bachelor of laws, and was admitted to the bar of Michigan. He came to Crooks- ton in January, 1878, and has lived there contin- nously since that time, making him the first lawyer now living to locate in what is now the Fourteenth Judicial District of Minnesota. He soon became a good trial lawyer and had a fair share of the law business of the region tributary to Crookston while at the bar and has also done considerable farming in . the Red River valley.
Judge Watts was united in marriage with Edith E. Webb whose father, Rice Webb was one of the pio- neers of Polk county and who is a descendant of John Alden and Priscilla, immortalized in the verse of Longfellow. They have four children, William A., lawyer, residing at Duluth, and Mary Ella, Anna M. and Matthew S., at home.
HIUGH THOMPSON.
Hugh Thompson, of East Grand Forks, an eminent citizen of Polk county, is widely known as a pioneer, whose career has been significantly associated with the development of the various important interests of northern Minnesota. He was born in Huntington county, Canada, July 4, 1850, the son of John L. Thompson, a well known farmer of that region, who continued to reside in Huntington county until his death. His son, Hugh Thompson, spent his early youth on the Canadian homestead and came to this country when sixteen years of age, securing a posi- tion as a elerk in a store owned by his brothers, at St.
Croix Falls, Wisconsin. Two years later he left St. Croix for Menominee, where he engaged in similar employment. In 1873 he came to Crookston, then in the earliest days of its settlement and has since been actively identified with growth and progress of Polk county. For a few years he was employed in the store operated by W. D. Bailey but in October, 1875, he embarked upon his independent commercial career, opening a general store at Fisher's Landing. This proved a successful venture and in 1879 he extended his activities to the milling business, erecting a flour- ing mill which was destroyed by fire some three years
141
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COMPENDIUM OF HISTORY AND BIOGRAPHY OF POLK COUNTY
later. In 1879 Mr. Thompson organized the Fisher bank as a private banking house and as president, capably directed its affairs during the first years of its operations. This bank became a State bank in 1896 and is one of the most substantial and pros- perous financial institutions of the county. In 1885 Mr. Thompson became associated in his various busi- ness interests with Marcus Johnson, buying the mer- cantile business owned by Andrew D. Stephens and ereeting a flour mill which they operated for nine years when it was merged with the North Dakota Milling Association, of which Mr. Thompson heeame president. This corporation had extensive milling interests in North Dakota and Minnesota and Mr. Thompson remained at the head of its board of di- rectors for several years. During these busy years of commercial enterprise, he found time for active co-operation in public affairs and gave his services in publie offices, as county commissioner, and was the first postmaster appointed at Fisher. In 1891 he was appointed registrar of the United States land office at Crookston and during the four years of his ineumbeney of that position, resided in Crookston. Ile removed to East Grand Forks in 1896 and sinee that time has given his attention largely to the direct service of public interests in the various official posi-
tions to which the confidence and regard of his fellow citizens have called him. Aside from the local offices which he has held, Mr. Thompson was also an able member of the State board of Equalization for ten years, being first appointed to the board in 1882. lle has been prominently identified with civie affairs as mayor and president of the town couneil and for four years was county commissioner from the fifth district. As a pioneer citizen, merchant and banker, his career has been notably marked with that intelli- gent and constructive citizenship which lays the foun- dation for the steady prosperity and rapid develop- ment of all commercial and social activity. Mr. Thompson has been twice married, his first union was with Luella May Thompson in 1875. She was born in St. Paul and was a teacher in the first school of Polk county, at Crookston. Three children were born to them, two of whom died in infaney. The death of the mother occurred at Fisher in 1888 and she was survived by one daughter, Luella M., who is the wife of Bert Townsend. Mr. Thompson's mar- riage to Lees McMaster, a native of Olmstead county, Minnesota, and a teacher in the Fisher sehools at the time of her marriage was solemnized in 1891 and they have two children, Charlotte II. and June.
REVEREND J. B. A. DALE.
Reverend J. B. A. Dale, pastor of the United Lu- theran church at McIntosh, was born at Avue Bergen, Stift, Norway, June 29, 1854. He remained in his native land until his seventeenth year, coming to the United States in June, 1871. For several months he made his home in Columbus, Wisconsin, and then lo- cated in Chicago, where he spent three years and then returned to Wisconsin, living for a time in Ean Claire. Being ambitious to seeure an education and prepare himself for the ministry, in the fall of 1875 he went to Minneapolis and enrolled in the Augsburg Semi- nary. He completed a four years' course of study in that institution, meanwhile working during the vaea-
tion months and finding further employment as a teacher in parochial schools. Ile then attended the Nor- mal school at Winona, Minnesota, during one winter and subsequently entered the University at Columbus, Ohio. In 1882 he became a student in the Red Wing Seminary and completed his studies in the following two years, receiving his degree in June, 1884. He was ordained in Lee county, Illinois, and his first pastorate was in Newman Grove, Nebraska, remaining with that congregation for some fourteen years. On leaving he came to Minnesota to accept the charge at Twin Val- ley in Norman county, where he served for six years. In July, 1904, he removed to MeIntosh, as pastor
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COMPENDIUM OF HISTORY AND BIOGRAPHY OF POLK COUNTY
of the United Lutheran church, with eight churches in Polk county in his eircuit, which has since been divided into two pastorates. Mr. Dale has devoted his life to his ministerial labors and enjoys the high regard of his many warm friends through his faithful service during the many years spent as a leader in religious interests. He was married at Roland, Iowa, in July, 1882, to Julia Olson, who was born at Leland, Illinois, November 23, 1865. Fourteen children were
born to this union, twelve of whom are living. Mar- eelius A. Dale died at MeIntosh, in his twentieth year and the death of Melvin Dale occurred when he was fourteen years of age. The surviving children are, Jeanette, who married E. G. Schlanbusch; Cas- par, Erwin, Christina, the wife of Reverend A. B. Hinderlie, Clara, Elnora, Andora, Ingeborg, Bea- triee, Marcellus, Marguerite and Jens.
WILLIAM J. RASMUSSEN.
William J. Rasmussen, municipal judge at East Grand Forks and one of the leading members of the Polk county bar, was born in Duek Creek township, Taylor county, Wisconsin, June 22, 1885, the son of Jacob and Caroline (Olson) Rasmussen, who were natives of Norway. Jacob Rasmussen continues to make his home at Phillips, Wisconsin, where the death of his wife occurred in her sixty-ninth year. William Rasmussen spent his youth in Phillips and there received his early education, later entering the University of Wisconsin. Subsequently he matricu- lated in the state university of Minnesota and there prepared himself for his professional career, grad- uating from the law school of that institution in 1909.
He immediately engaged in the praetiee of law in East Grand Forks and rapidly won recognition as one of the able young attorneys of that section. In 1911 he was elected municipal judge and has since given most efficient and zealous serviee in diseharg- ing the responsibilities of his position. As public official or private citizen, Mr. Rasmussen is that type of broad minded and progressive eitizen, whose in- fluence is felt in every phase of community develop- ment. His politieal affiliations are with the Republi- can party. In fraternal orders, he is a well known member of the Masonie fraternity and a Knight Templar.
JOHN J. VAATVEIT.
John J. Vaatveit, a prominent merehant of MeIn- tosh and well known citizen of King township, is a native of Norway, born in Village of Voss, on Angust 13, 1856. He was reared on a pioneer farm home in Dodge county, Minnesota, the family emigrating to the United States in spring of 1857, and spent his early manhood in Dodge county. In 1856 he went to Grand Forks, North Dakota, and began his eareer in the com- mereial world as a elerk in a general store. After spending seven years in that employment, he made his first independent venture in the mercantile business and for five years continued his successful operations, establishing a store at Northland, North Dakota, and
was appointed the first postmaster at that plaee. In 1895 he sold his interests, resigned from the office of postmaster and transferred his attention to farming, removing to Polk county and buying a quarter section of land in King township, where he engaged in agri- cultural pursuits for some twelve years. In 1907 he resumed his eommereial activities, opening a general store at MeIntosh, where he has since conducted a prosperous and steadily growing trade. During the many years of his residence in King township, Mr. Vaatveit has won the respect and confidenee of all his associates through his ability as a business man and his publie spirited citizenship. He has been
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