USA > Minnesota > Cottonwood County > History of Cottonwood and Watonwan counties, Minnesota : their people, industries, and institutions, Volume I > Part 47
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TIIE MADELIA NEWS.
This newspaper was established in November, 1915, by Will Y. San- born. It is an eight-page, six-column paper, all home print. and its yearly subscription rate is one dollar and fifty cents. It has a circulation in Watonwan county, for the most part of its issue. In politics it is a Repub- lican journal. Its proprietor is a native of this county, born in the village of Madelia in 1876, a son of Benjamin C. Sanborn, the founder of the county's first newspaper. He conducted the Times ( the first paper ) for five years and then after an absence of eleven years returned to Madelia and estab- lished the Vezes. While away he was in the far West, and at Pomeroy. Washington, a part of the time named, he was interested in the Standard, and at Pasco in the publication of the Erpress. The equipment of the Newe's is up-to-date. Among such equipment may be named a two-revolution Cottrell paper press, a Chandler & Price jobber, and a linotype machine. The office employs electric motor power to drive its machinery.
THIE ST. JAMES PLAINDEALER.
The St. James Plaindealer was established in 1890 by C. W. Footc. and with the passage of years it has been conducted by Messrs. Foote. Thomas, Torson. G. J. Keenan, O. C. Cole and Will Curtis. In form and size the Plaindealer has always been a six-column quarto paper ; at first "patent insides" were employed, but at present it is all home print. Politi- cally, this newspaper is progressive Republican. Its subscription rate is one
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dollar and fifty cents a year in advance. It has a good circulation in Watonwan county. The equipment of the office includes a Taylor drum- cylinder press for printing the newspaper : a Universal jobber, fourteen by twenty-one inches; a Chandler & Price jobber, a newspaper folder and the usual amount of up-to-date type. Electric power drives the machinery of the office-a wonderful contrast to that of the one-man power it required in early days to run the old Washington handpress. The publication of news- papers in these times marks fully as much advancement over old methods as may be found in any other branch of business.
ST. JAMES JOURNAL-GAZETTE.
The St. James Journal was established in 1878: the St. James Gasette was established in 1896; the two papers were merged in 1906. The Gascttc was established by W. D. Bell. present owner of the Journal-Gasette. The property was leased to Sullivan & Gushinan. December 1. 1915. The paper was a six-column, eight-page journal at first, but is now a seven-column paper of eight pages. It is Republican in its political influence and bear- ings. Its subscription rate is one dollar and fifty cents in advance, and has most of its circulation in Watonwan county. The general equipment is first- class in every detail, and includes gasoline motor power. In all that is good the Journal-Gasette affords the best.
Concerning the early and later proprietors of these papers, let it be said that the first paper in St. James was the Herald, which was established in March, 1873, by G. W. Tanner. This paper had to cease its issue on account of the great grasshopper scourge in the seventies-it ran three years and there was no newspaper in the place for three years. In 1878, when St. James became the county seat, W. A. Chapman established the Journal. He conducted it ably until his death, in January, 1890, after which his widow carried on the business, until she had to give it up on account of having to properly care for her fatherless children. The next proprietor was E. J. Lynch, who continued to run it until he soll to W. D. Bell. He took a partner, W. M. Barrett, and the Journal and Gasette merged in March, 1906, with the names of Barrett and Bell as proprietors.
THE ST. JAMES INDEPENDENT.
The St. James Independent was established December 5. 1914. by F. W. and H. W. Haislet. On June 1, 1915. H. W. Haislet purchased his
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partner's interest, since which time he has been sole owner. This is a neat, well-edited, well-printed publication, issued weekly in the form of a six- column quarto paper, with a subscription rate of one dollar and fifty cents per year. It circulates mostly in the territory of St. James and Watonwan county. The present proprietor, H. W. Haislet, was formerly publisher of the Butterfield Advocate in this county, and was there the greater part of fifteen years, making him now the oldest newspaper man in point of service in the county. The Independent office is well equipped with all the necessary and up-to-date machinery and type suitable for a newspaper and job printing office, in the twentieth century. The paper is independent in its politics, true to its name. This office turns out large quantities of commer- cial, plain and fancy printing, including pamphlets, bank checks, etc. With his wide acquaintance in this section of Minnesota, Mr. Haislet edits a read- able, interesting and newsy local paper.
THE BUTTERFIELD ADVOCATE.
The Advocate, at the village of Butterfield, was established in 1897 by F. Caldwell, who sold to Winfield Sylvester, he to L. C. Elwell, he to Lysne Publishing Company, they to W. G. Finch, he to H. W. Haislet, and he to J. W. Hubin. The present form and size of the paper is a six-column quarto sheet. Its price per year is one dollar and a quarter. It circulates in Butterfield, Odin, Darfur, St. James and Mountain Lake villages and towns; practically covering the entire western end of this county. Politically, the paper is independent. The Times at Butterfield was absorbed by the Adro- cate in 1904-5. The Lysne Publishing Company also bought a paper at Bingham Lake, and consolidated the material with the Advocate equipment. The present office has among its equipment a two-revolution Campbell news- paper press. a fourteen by twenty-two Cincinnati platen jobber. a ten by twelve Gordon jobber, and a seven by eleven Pearl jobber; a thirty-inch paper cutter, Junior linotype, a perforator, staplers, imposing stones, two gasoline engines and a quantity of job and news type.
ST. JAMES HERALD.
Number 1, volume I, of the St. James Herald, was dated Friday, Febru- ary 28, 1873. and was edited and owned by G. W. Tanner. It survived about two years.
CHAPTER XIII.
BANKS AND BANKING IN WATONWAN COUNTY.
A bank is an institution, under public control, having a place of busi- ness where credits are opened by the deposit of money and currency, subject to be paid upon check or order, and where money is advanced and loaned on stocks and commercial paper and where the same are received for dis- count or sale. Any person so operating, whether incorporated or not, is a banker. No person may use the name "bank" in connection with his busi- ness, unless the same be under the supervision of the superintendent of banks. Banks are now of three kinds: State banks, organized under the laws of the commonwealth; savings banks, organized by special charter, or under the general savings bank law; national banks, organized under the national banking laws.
The superintendent of banks, at least annually, and as much oftener as he deems necessary, has the right to visit and examine the business and officers of any such corporation, except a national bank, and ascertain its financial condition. Whenever he finds a state or savings bank in such condition that its further operation is hazardous to the public interest, he may take possession of the same and report to the governor. A state bank may commence the transaction of business only when it has the certificate of such superintendent of banks, authorizing it to do so. State banks are prohibited from indicating in any way that they are authorized to transact the business which a savings bank usually does, but a national bank, being an institution incorporated under the national banking laws, is not subject to state law in so far, and such banks may create and maintain a savings bank department.
National banks are such as are organized under the government's bank- ing act, and must have a capital of not less than twenty-five thousand dol- lars. Each stockholder is not only liable for the amount of his stock, but is liable in an additional amount of such stock. Any person engaged in bank- ing who receives deposits after a bank has become insolvent, is guilty of a criminal offense.
THE FIRST BANK IN WATONWAX COUNTY.
The first bank in Watonwan county was the Watonwan County Bank, established at the village of Madelia in the seventies, probably first owned
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by Joseph Flanders, who later sold his interest, at any rate, to Judge Cooley, and sometime in 1880, he sold to A. H. Benton, who sold his interest to the present First National Bank of Madelia, and became cashier of the latter institution, continuing for two years, when he resigned. The original bank was taken over by the First National Bank in 1904. It was in Janu- ary, 1904. that the doors of the new bank were thrown open to the public. Its organization was perfected by C. S. Christensen, Sr., E. L. Gove, A. H. Benton, J. E. Haycraft, C. T. Dahl and F. H. Wellcome. The officers at first were: F. H. Wellcome, president; C. S. Christensen, Sr., vice-presi- dent: C. T. Dahl, vice-president; A. H. Benton, cashier, and L. J. Olson, assistant cashier. The 1916 officers are as follow: C. B. Christensen. Sr., president ; Charles Russell, vice-president; C. T. Dahl, cashier and F. H. Hillesheim, assistant cashier.
The first ( and present ) capital was twenty-five thousand dollars. The resources and liabilities are now three hundred and forty-eight thousand dollars, with surplus and profits amounting to five thousand seven hundred dollars. The recent deposits are named in the report as being three hundred thousand dollars. This bank is a member of the Federal Reserve Bank, ninth district.
The comparative statement of total resources of this concern is as fol- lows: . At the close of the years from 1904 to 1916 the resources were : In 1004. $98,302; in 1905. $106,906; in 1906. $III.921 ; in 1907, $110.654; in 1908, $115.564; in 1909, $152,606; in 1910, $184,179; in 1911, $196.872; in 1912, $222.995 ; in 1913, $255.458: in 1914, $296,223 : in 1915. $335.2445. This bank now pays five per cent on its deposits, and still manages to make profits for the stockholders. They write insurance and make many farm loans.
THE FIRST BANK AT ST. JAMES.
The pioneer banking concern at St. James was what was legally named the "Bank of St. James," but usually in latter days known as "The Old Bank." Its last quarters were in the present Sanitarium building-the old Park Hotel. It was established in 1878 and in 1903 it had a capital of one hundred and fifty thousand dollars, but during that year was forced into the hands of a receiver and a set of trustees closed up its business at a loss to its depositors. It was established by Moses K. Armstrong and was counted the strongest banking house in all southern Minnesota. For many years it had the confidence of everyone in this county and seemed to be conducted along good business lines, and at one time boasted of its two-hundred-thou-
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sand-dollar capital, with a backing of much greater amount. It handled much real estate, as Armstrong was one of the largest landowners in Waton- wan county, having farms, wild land and a great amount of village and city property in this and adjoining counties. In 1901 the officers serving were: Moses K. Armstrong, president; W. T. Bordeno, cashier; T. Kol- stad, bookkeeper.
In three months of the year 1890 this bank issued drafts and checks to the amount of over one million dollars and grain checks paid to farmers who sold grain at the three St. James elevators amounting to $327.416.
It was wound up after several years of hard work on the part of the trustees. The community in general never believed Mr. Armstrong dis- honest, but rather that his methods were not good business policy and the manner of keeping his accounts was not of the correct kind for good bank- ing. To the date of his failure he was accounted a model man in every particular and did much for the county and for the county scat, in liberal donations, in way of grounds for industries and public buildings, including the school grounds, where stands the beautiful Armstrong school.
CITIZENS NATIONAL BANK, ST. JAMES.
The Citizens National Bank at St. James, was organized in 1904 by T. K. Haugen and H. M. Serkland, with officers as follow: T. K. Haugen, president : HI. M. Serkland, cashier. The 1916 officials are: C. R. Man- waring, president : Thomas Offerdal, vice-president; A. M. Hanson, cashier ; V. A. Malmrose, assistant cashier. The directors' board is composed of the following gentlemen: C. R. Manwaring, Thomas Oferdal, A. M. Hanson, J. C. Ranseen and Albert Johnson. A bank building was constructed in 1899 of solid brick walls.
The capital is the same as when organized-twenty-five thousand dol- lars: the surplus and profits amounts to thirty thousand dollars, and the amount of deposits at June, 1916, was two hundred and forty thousand dol- lars. Its officers are well-known men in southern Minnesota.
FIRST NATIONAL BANK OF ST. JAMES.
The first National Bank of St. James, was established March 31, 1803. by Frank O'Meara. The officers at first were Thomas Veltum, president : Clinton Ellsworth, vice-president : Frank O'Meara, cashier. This bank suc- ceeded the old State Bank of St. James, organized in 1890. During the panic of 1893-4, the First National Bank went through unscathed. It com-
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menced on the same capital it now works under-fifty thousand dollars. It has a surplus and profits amounting to $36.550, and deposits on May I, 1916, amounting to $347-531.74. The statement on the date just given showed that the resources and liabilities amounted to $520,132.91. Among the items therein enumerated are these: Loans and discounts, $368,756.35; coin and certificates, $25.573.20; real estate owned by the bank, $11,495.60; individual deposits which are subject to check, $98,92.4.21 ; certificates due in less than thirty days, $21,647.80; certificates of deposit, $234,191.28. In 1892 their solid brick building was erected at a cost of thirty-two thou- sand dollars, and it has all of the modern improvements for the successful ยท transaction of a large banking business. The 1916 officers are: J. S. Sonnesyn, president ; Clinton Ellsworth, vice-president ; Thomas Tennessen, cashier ; W. F. Schoffman and E. C. Veltum, assistant.
SECURITY STATE BANK OF ST. JAMES.
This bank was organized August 1. 1903. by W. P. Rempel, W. S. Hammond, F. E. Veltum, C. J. Wenstrom and William Oetting. The first capital was the same as carried today-fifty thousand dollars. Its surplus and profits are now ten thousand dollars, while its recent deposits are one hundred and ninety-nine thousand dollars. At the close of business, March 7. 1916, the statement shows the following: Resources-Loans and dis- counts, $239,261.01 ; overdrafts, $515.63; bank and fixtures, $1.500.00: checks and cash due from other banks, $32,813.85: bonds and securities, $2,000.00; sundry expenses, $754.44. Total. $276,844.93. Liabilities -- Capital and surplus, $6,000.00; undivided profits, net, none; deposits, $216.844.93. Total, $276,844.93.
The first officers of this bank were as follow: W. P. Rempel, presi- dent : C. J. Wenstrom, vice-president; F. E. Veltum, cashier ; William Oet- ting and W. S. Hammond, directors. The 1916 officers are: W. P. Rempel, president ; William Oetting, vice-president; M. H. Hammond, cashier: Marion Clark, assistant cashier; W. P. Rempel, William Oetting. M. Il. Hammond, Marion Clark and David Rempel, directors.
ODIN STATE BANK.
The Odin State Bank was organized June 9, 1904, with first officers as follow: W. M. Jacobson, president ; N. J. Lervick, vice-president ; J. C. Jensen, cashier. The present officers are: J. C. Lensen, president ; W. M. Jacobson, vice-president : P. T. Laingen, cashier ; T. P. Laingen, assistant
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cashier. The board of directors are Messrs. W. M. Jacobson, J. C. Jensen, A. Jacobson, M. Jensen, T. P. Laingen, C. S. Hammer and O. H. Fossum. The capital is ten thousand dollars, same as when established. It now has a surplus of thirty thousand dollars, and a recent report shows deposits to the amount of one hundred and one thousand nine hundred and ninety-four dollars.
This bank succeeded to the Odin Bank, a private concern, established in 1901. The present brick building was erected in 1914, at a cost of thirty- five hundred dollars. A general banking business is transacted; also real estate, farm loans and general insurance business is carried on. The sub- joined is part of their March, 1916, statement: Resources: Loans and discounts. $98.664.42: overdrafts. $103.15; bank and fixtures, $4.650.00; total cash assets. $14.036.00: checks and cash items. $551.47. Total, $118,- 005.75. Liabilities : Total deposits. $100,994.91. Capital stock, $10,000.00; surplus fund, $2,000.00: undivided profits, net, $2,010.84; bills payable, etc., $3.000.00. Total liabilities, $1 18,005.75.
MERCHANTS STATE BANK, LEWISVILLE.
The Merchants State Bank at Lewisville was organized on January 22. 1902. by Adolph Sucker. Its first officers were: William F. Sucker, presi- dent ; T. M. Lewis, vice-president ; Adolph Sucker, cashier, and F. M. Gil- lett. assistant cashier. The 1916 officers are as follow: James Lewis, president; T. N. Marsden, vice-president ; Adolph Sucker, cashier and Percy E. Lewis, assistant cashier.
The first capital was ten thousand dollars, which has been increased to twenty thousand dollars. Its present resources and liabilities amount to one hundred and seventy-five thousand dollars, with surplus and profits amounting to three thousand five hundred dollars. The recent statements show the amount in deposits to be one hundred and forty-eight thousand dollars. This bank is owned solely by citizens of Lewisville and it has doubled its stock by its earnings, since 1902, a record seldom achieved by any bank in so short a time. It owns its bank building, which is a brick- stone structure erected in 1903.
PEOPLES STATE BANK, BUTTERFIELD.
The Peoples State Bank, of Butterfield, was organized May 18, 1903, by B. Rempel. A. V. High, J. Koller and John Rempel, with a capital of
(34)
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ten thousand dollars, same as it operates under today. The first officers were as follow: B. Rempel, president; \. V. High, vice-president ; J. Koller, cashier, and they are the same today except that John Heppne is vice-president in place of Mr. High. This bank now has deposits amount- ing to seventy thousand dollars, with a surplus and profit of four thousand dollars. A general commercial banking business is transacted in this insti- tution.
THE STATE BANK OF BUTTERFIELD.
The State Bank of Butterfield was organized in 1904, by J. K. Sonnesyn and Thomas Thompson, of St. James, G. A. Kintzi, A. Syverson, J. F. Enns, and J. Brogger of Butterfield. The capital stock is same as when organized-twelve thousand dollars. At first the officers were as follow : G. A. Kintzi, president ; J. F. Enns, vice-president and E. Brogger, cashier. They are the same now except that J. Brogger is president and E. Brogger, cashier. In 1915 a splendid bank building was erected by this corporation. The lot on which it stands cost fifteen hundred dollars, and the structure itself cost ten thousand dollars, with fixtures amounting to thirty-five hun- dred dollars.
The present (June, 1916) resources and liabilities are one hundred and fifty thousand dollars. The surplus and profits are eight thousand seven hundred dollars and they have deposits at the last accounting, one hundred and thirty-five thousand dollars.
FARMERS STATE BANK, ORMSBY.
The Farmers State Bank at Ormsby, was organized July 1, 1901. Its first officers were: E. S. Ormsby. president ; Christ Struck, vice-president ; A. H. Peterson, cashier. In 1916 the officers are: A. C. Brown, presi- dent : John Toedt, vice-president ; F. D. Klocow, cashier. The capital is ten thousand dollars, same as when organized. A general banking business is transacted here in a buikling owned by the stockholders. The surplus and undivided profits in May. 1916, were twenty-four hundred dollars, with deposits amounting to forty-five thousand dollars.
THE STATE BANK OF LA SALLE.
The State Bank of LaSalle, Minnesota, was organized July 24, 1906, by M. S. Dossett, C. Evanson, Silver Hage. T. C. Hovde and Hans Sigurd-
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son, with possibly a few others. The first and present officers are: T. C. Hovde, president ; Hans Sigurdson, vice-president; O. E. Sundt, cashier. The present assistant cashier is Sig. Skarphol. The capital stock of this bank is ten thousand dollars. They do business in a building which they erected in 1906-a frame structure costing fifteen hundred dollars. Here a general banking business is conducted. The resources and liabilities in June, 1916, were one hundred and fifty thousand dollars ; surplus and undi- vided profits at that date were seven thousand four hundred dollars. The deposits are now one hundred and thirty thousand dollars. The present board of directors is made up as follows: Hans Sigurdson, M. S. Dossett, A. H. Shellum, T. C. Hovde and O. E. Sundt.
STATE BANK OF DARFUR.
The State Bank of Darfur was organized June 10, 1903, by W. P. Rempel, D. D. Hiebert, Theo. Kintzi, Charles W. Stark, Frank Balzer, J. H. Dickman and Diedrich Heppner. Ten thousand dollars was the first and is the present capital stock. The first officers were: J. H. Dickman, presi- cent : D. D. Hiebert, vice-president : Carl Klein, cashier. Those serving today ( 1916) are: W. P. Hempel, president; Diedrich Heppner, vice- president : Theo. Englin, cashier ; Paul Connor, assistant cashier.
A frame bank building was erected in 1900 at an expense of one thon- sand dollars. In June, 1916, they had resources and liabilities to match, amounting to one hundred and forty-two thousand seven hundred and thirty- one dollars. The surphuis and profits amounted to five thousand seven hun- dred and eighty-seven dollars, with a showing of deposits of one hundred and twenty-four thousand four hundred and seventy-nine dollars. In March, 1916, they had in the reserve fund over twenty thousand dollars. whereas they were only required to have on hand eighty-seven hundred and thirty dollars.
The board of directors who manage this bank is composed of M. H. Hammond, Frank Balzer. W. P. Rempel, Theo. Englin, C. W. Stark, D. Heppner and C. Elg.
CHAPTER XIV.
FRATERNAL AND CIVIC ORGANIZATIONS OF WATONWAN COUNTY.
In these days in nearly all intelligent communities one finds active. energetic and influential lodges of various secret orders. The time has long since passed when such societies were regarded as questionable. After many years of lodge activities in the world, men and women, too, have come to see that good only comes from well conducted lodges of secret organizations. Among the oldest, most powerful and far-reaching of such fraternities is the Masonic order, which has in its membership many of the best men of both church and state. To be a good Mason means to be a good man, in whom all may confide and have confidence, and when this is not true such a one may be branded as a "black sheep." -
MASONRY IN ST. JAMES.
Libanus Lodge No. 96. Ancient Free and Accepted Masons, at St. James, was organized by charter, January 15, 1873, by the Grand Lodge of Minnesota. The charter members of this Masonic lodge were as follow : Lee Hensley, Blin Converse, S. C. Clark. G. H. Herrick. C. Plumstead, Rice Converse, Seth F. Herrick. J. W. Lydick, George Hunsaker, J. J. Thornton, H. Foster and E. H. Reynolds.
The second floor of the Schoffman building is leased by the order at the present time for lodge room purposes. The total membership of the lodge is one hundred and fifteen. The officers in June, 1916, were: B. F. Clements, worshipful master: Thomas Irving, senior warden; J. L. Loben. junior warden: A. M. Card, secretary. The only other Masonic lodge in the county is the one located at Madelia.
Madelia Lodge No. 66, Ancient Free and Accepted Masons, was or- ganized on October 23. 1867, with a charter membership as follows: Hart Montgomery, Bowen Yates, John Doolittle, Josiah T. Stark. Jonathan T. Furbery. Albert G. Perkins, James P. Hoycroft. R. W. Montgomery, Charles G. Mullen, William C. Rhoades.
The lodge now has a membership of seventy-five. This lodge and the
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Order of Eastern Star of Maledia work in conjunction and one sustains the other to a good degree.
The first officers of the blue lodge here were Hart Montgomery, Bowen Yates and John Doolittle: while those of today are: E. E. Douglass, worshipful master; J. W. Smith, senior warden; A. B. Gjervik, secretary.
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