USA > Minnesota > Fillmore County > History of Fillmore County, Minnesota (Volume 1) > Part 49
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Ober & Underleak. Then it was conducted by the firm of A. L. Ober and S. Burnap (Ober & Burnap) until its incorporation, all the time being known as the Chatfield Bank. April 1, 1903, the institution was incorporated as the First National Bank. The incorporators were A. L. Ober, Sidney Burnap, Joseph Underleak, H. S. Griswold, Milo White, Sr., and F. C. Lovell. These gentle- men were also the first directors. The first officers were: Presi- dent, A. L. Ober; vice president, H. S. Griswold; cashier, Sidney Burnap. A. L. Ober served as president from the incorporation until December 26, 1911, when he was succeeded by Joseph Under- leak. Sidney Burnap served as cashier from the incorporation until January 15, 1910, when he was succeeded by F. G. Stoudt. Mr. Stoudt has been associated with the bank since November 1, 1909. I. E. Ober, assistant cashier, entered the Chatfield Bank on November 15, 1899, and has been with the First National Bank since its incorporation. Knute Olson, assistant cashier, has been with the bank since June 1, 1907. The institution does a con- servative banking business, and is a substantial factor in the financial integrity of the people from three counties. The First National Bank opened its doors for business April 1, 1903, occupy- ing the building erected about 1879 by I. II. O'Ferrall for the old Chatfield Bank, and occupied by that institution from the time it began business until its incorporation as the First Na- tional Bank. The old banking rooms were remodeled in 1903, the vault room doubled, and new fixtures installed, making pleasant and commodious quarters.
Following is the report of the institution rendered at the close of business, April 18, 1912.
Resources: Loans and discounts, $275,313.81; overdrafts, se- cured and unsecured, $1,634.98; U. S. bonds to secure circulation, $25,000.00; premiums on U. S. bonds, $1,000.00; bonds, securities, etc., $18,224.60; banking house, furniture and fixtures, $7,122.07; other real estate owned, $6,458.00; due from national banks (not reserve agents), $7,664.25; due from state and private banks and bankers, trust companies, and savings banks, $3,233.41; due from approved reserve agents, $31,548.36; checks and other cash items, $292.66; notes of other national banks, $70.00; fractional paper currency, nickels and cents, $101.25; lawful money reserve in bank, $20,584.75; redemption fund with U. S. Treasurer (5 per cent of circulation ), $1,250.00; Total, $399,498.14.
Liabilities: Capital stock paid in, $25,000.00; surplus fund, $25,000.00; undivided profits, less expenses and taxes paid, $2,- 917.70; national bank notes outstanding, $25,000.00; due to other national banks, $383.84; due to state and private banks and bank- ers, $2,249.11; individual deposits subject to check, $92,195.69; time certificates of deposit, $208,825.50; notes and bill redis-
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counted, $17,920.00; liabilities other than those above stated, $6.30; Total, $399,498.14.
The First National Bank of Spring Valley was organized in the summer of 1902 and opened for business on July 2 of that year. It succeeded the Citizens' Bank, which had been owned and operated as a private bank by Everett Jones for about ten years. A number of capitalists from Winona, together with Mr. Jones and several other local people were instrumental in organiz- ing the bank and taking over the Citizens' Bank's business. The first president was W. P. Tearse, of Winona. Everett Jones was its first vice-president and J. H. Davis, of Winona, its first cashier. Mr. Davis remained with the bank for one year only at which time he resigned and Everett Jones succeeded to his position, which position he held until January 1, 1910. At the end of the first year T. L. Beiseker, formerly of Austin, Minn .; now of Fessenden, N. D., purchased a large interest in the bank from the stockholders at Winona and became its president, occupying that position until January 1, 1908, at which time Mr. Beiseker's entire holdings were purchased by local people. It has been owned and controlled entirely by local people since that time.
When Mr. Beiseker sold out, F. J. Harris, a hardware merchant of Spring Valley, was elected his successor as president, which position he still holds. Mr. Harris was vice-president during Mr. Beiseker's presidency.
H. H. Steffens, who was employed as bookkeeper in the Citi- zens' Bank from July, 1900, until the organization of the First National, was elected the first assistant cashier and occupied that position until January, 1908, at which time Lyle Hamlin, who had been with the bank four years as bookkeeper, was elected assis- tant cashier. Upon Mr. Jones' resignation in 1910, Mr. Hamlin was elected cashier to succeed him, which position he has held since that time. J. W. Barber was elected assistant cashier in January, 1910, which position he still holds.
The present corps of officers consists of F. J. Harris, president ; C. A. Gilbert, vice-president; Lyle Hamlin, cashier ; J. W. Barber, assistant cashier. The present board of directors who are owners of about three-fourths of the entire stock of the bank, are: F. J. Harris, C. A. Gilbert, J. B. Sample, D. M. Peshak, Julius Krause, R. J. Parker, H. E. King, Wm. Affeldt and M. E. Molstad.
Mr. Harris, the president had been in the hardware business in Spring Valley for more than twenty years. He has been very successful in his business and is a man who is widely known and trusted in a large territory surrounding Spring Valley.
C. A. Gilbert, the vice-president is a farmer living about two miles east of Spring Valley. He owns one of the finest farms in this part of the country.
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Mr. Hamlin, the cashier was born near Cherry Grove about ten miles southeast of Spring Valley, is a graduate of the local high school, and studied law at the University of Minnesota. He entered the employ of the bank in 1904 and has been with it ever since.
Mr. Barber, the assistant cashier was formerly the agent of the Chicago, Milwaukee and St. Paul Railway at Spring Valley for many years.
The capital of the bank is $50,000.00, and the surplus fund is $10,000.00, which has been all earned since its organization. It has deposits of $325,000.00 at the present time and total resources of nearly $450,000.00. The business of the bank has steadily grown since its organization, but it has made an especially rapid growth during the last three years. The general policy of the bank is to do for its customers upon a reasonably fair margin of profit, everything that a good bank ought to do, and if it can be a medium of exchange of money and credits for Spring Valley and vicinity, and in doing this reap a reasonable amount of profit for its stockholders, the ideals for which its officers stand will be realized. The bank occupies its own building, which was erected in 1903 at a cost of $15,000.00. It is one of the most modern and up-to-date buildings in this part of the state.
Below is a statement of the bank taken from its business, June 1, 1912.
Resources : Loans, $262,492.25; United States and other bonds, $54,805.38; banking house and fixtures, $14,979.53; cash and dues from banks, $104,428.45; Total, $436,705.61.
Liabilities: Capital stock, $50,000.00; surplus and profits, $10,485.48; circulations, $50,000.00; deposits, $326,220.13; Total $436,705.61.
FORMER BANKS.
The Fillmore County Bank. This institution was organized September 26, 1886, by J. R. Clements, M. R. Todd and Mrs. J. F. Greenleaf, and commenced business in Preston on that date. Business was conducted in a wooden building where the post- office now stands, until 1889, when the brick building still occu- pying the site was erected. In October, 1894, J. R. Clements was alleged to have withdrawn from the firm. August 22, 1898, the doors of the institution were closed, and it was found that there was less than $100 in cash and less than $300 in notes in the bank at that time. The amount of the deposits was large at the time of the failure, and the poor people who had been depositors suf- fered heavily. It transpired in the litigation which followed that Clements was the evil genius of the affair, and that Todd had turned over to him, for apparently no reason, vast sums of money.
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When the bank was organized it was known as the Fillmore County Bank, president, J. R. Clements; vice-president, J. F. Greenleaf; cashier, M. R. Todd. Then it was changed to Fill- more County Bank, Clements, Greenleaf & Todd, bankers. Last it was Fillmore County Bank, Greenleaf & Todd, bankers. It was brought out later that Clements' connection with the bank had continued from beginning to end. Todd was arrested as soon as the bank closed its doors, and Clements was arrested and extra- dited from Wisconsin, June 16, 1899. Todd died not long after the trouble started. Clements served ten years in the state's prison.
The Kelsey Failure. In the fall of 1896 a promoter of private banks, B. J. Kelsey, claiming his residence in Minneapolis, came to Lanesboro and labored several days for the purpose to estab- lish a stock company in a private bank. He worked and labored strenuously, inducing and cajoling farmers in the vicinity to take interest or shares in his institution, but failed to accomplish his scheme. He used the same methods in Canton and failed also, but subsequently installed a private bank at Lanesboro and Canton. At Lanesboro he occupied the building subsequently used by the Farmers' & Merchants' Bank. The institution was short lived. Apparently his resources were rather limited and from all indi- cations his capital in banking consisted principally of an ability to talk, as subsequent events proved. However, through his machinations he captured a good many depositors. In the fall of 1897 Kelsey's pretentions exploded and the doors of his business places were closed and passed into the receiver's hands, the result of which was total failure, as far as the depositors were con- cerned.
The National Bank of Preston. Henry R. Wells started the Preston Bank in 1875, and was in the banking business contin- uously in Preston up to 1911. March 20, 1908, the National Bank of Preston was organized with a capital of $50,000. The officers were: President, Henry R. Wells; vice presidents, S. A. Langum and John W. Hopp; cashier, William R. Wells; assistant cashier, L. J. Luhmann; directors, H. R. Wells, Tollef Sanderson, T. G. Moore, Thomas Frankson, S. A. Langum, John W. Hopp, Dr. W. B. Grinnell. The business of this bank was taken over in 1911, by the Farmers & Merchants Bank of Preston.
Bank Deposits.
The sums deposited in the banks of Fillmore county are as follows :
Scanlan-Habberstad State Bank, $658,324; State Bank of Lanesboro, $100,912; Preston First National Bank, $185,297;
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Peterson State Bank, $82,192; First National Bank, Harmony, $281,085; State Bank, Harmony, $396,165; First National Bank, Rushford, $152,998; State Bank, Rushford, $527,728; First State Bank, Chatfield, $345,816; First National Bank, Chatfield, $324,- 622; First National Bank, Spring Valley, $289,262; First State Bank, Spring Valley, $290,156; Farmers & Merchants Bank, Preston, $225,007; First State Bank, Wykoff, $139,516; Exchange State Bank, Wykoff, $111,328; First State Bank, Fountain, $110,- 787; State Bank of Mabel, $157,485; First National Bank, Mabel, $313,496; First State Bank, Canton, $117,949; Ostranders State Bank, $68,708; total, $4,878,833.
There are twenty national and state banks in Fillmore county, and their existence depends in a measure to the welfare of the agricultural farmer, of which we have the most thrifty class and practical farmers in the state.
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CHAPTER XXXVI.
INCIDENTS AND EVENTS.
Experiences of P. McCracken-The Weisel Flood, Written by William Willford-Hunting and Fishing-List of Old Settlers -Pre-Settlement Incident-Early Days in Amherst-Severe Storms-Reminiscences of W. F. Davis-Reminiscences of Wil- liam K. Sawyer-Bear Hunt and the Killing, Written by Wil- liam Willford-Indian Scare-Carimona Tavern-Early Days in Granger-A Vigilance Committee-Reminiscences of Old Pedagogue-"Yale College"-Scotland School-Abstracts of Title.
At a meeting of the old settlers in 1893, P. MeCracken painted a word picture of pioneer conditions in Fillmore county in 1855 and 1856, well worthy of preservation in this history. Mr. Me- Cracken said :
I saw the patient, slow-plodding ox team, hitched to what was commonly known as a prairie schooner, a farm wagon covered with thick factory cloth or canvass to protect, perchance, a wife and children from the scorching rays of the summer sun, and the drenching of the rain storm, and to protect the family from the chilly dews of a Minnesota night when used as a bed chamber. I saw the prairie schooner or white tent pitched near some of our beautiful groves, or on some secluded spot on the broad prairie, along some of our laughing little brooks, on the banks of our clear, cool, Root river streams, or by the side of some of our numerous little springs that were dotted all over our prairie, like silver specks in a sea of green. I saw the breaking plow turning up the rich, black prairie soil, while the owner of the claim looked forward with fond anticipation of a rich return for his toil. I saw the hardy, dauntless pioneer fashioning and laying up the prairie sods to make his frontier cabin home. I saw the beautiful deer bounding over the prairie or tamely drinking clear, cool water from a spring or sparkling brook. I saw the beautiful speckled trout in school, laying in the cool, shaded waters of brooks or rivers, or saw them darting through their azure tints like arrows shot from the bow of an unseen Robin Hood, or raising in playful gambol to the surface of the water with the glimmer of a silver sheen. I saw the prairie fire rolling
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JOSEPH RICHARDS, SR.
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over the prairies in all its terrific grandeur like a vast destroying army or monster tidal wave of fire. I saw a long, irregular wagon tract running over the prairie in an easterly direction, which at that time was our great public highway with its terminus on the west bank of the Mississippi river. I saw along this public highway some of the then noted hotels of Minnesota, viz. seven by nine cabins divided off into sleeping room, dining room and kitchen with quilt partitions. I saw in the winter months near the sod or log cabin the pioneer's meat barrel made of four crotched posts set in the ground and standing about seven feet high, with two cross pieces on top, whereon perhaps lay the carcass of a magnificent buck or doe preserved in the cold of forty degrees below zero. I saw in the sod or log cabin the strong, brave, confident husband, the contented and confiding wife, the artless and sturdy child, or the young man who had come west to grow up with the country and get a farm from Uncle Sam, that he might some day claim as his bride the sensible girl who had promised to become his wife whenever he had a home of his own or the means to purchase one. I saw hospitality, pure and simple. I saw contentment braced and buoyed up with a strong lever of hope. I saw friendship sincere and strong, unadulterated by the envy and petty jealousies of today. I saw the pioneers anxiously waiting and watching for the receipt of a letter or newspaper that had been expected and looked forward to for weeks, the receipt of which was one of the great family events of the week.
The Weisel Flood. A cloud-burst and the worst rain storm known to the settlers living in the southeast part of Fillmore county struck the west part of Newburg township, Canton town- ship, the south part of Amherst township, the east part of Har- mony township, and the southeast part of Preston township about eleven o'clock at night on the sixth of August, 1866, doing an im- mense amount of damage to the settlers in that section of the country. Houses, stables, fences, hay and grain were washed away. Several human lives were lost, and domestic animals and fowls of all kinds were drowned. All varieties of wild animals known to this country, such as woodchucks, rabbits, skunks, chipmunks, and gray, striped and pocket gophers were found dead in the huge piles of driftwood along the streams, some of which were four rods or more wide, ten to twenty rods long, and ten to twenty feet high. In these immense piles of driftwood hundreds of rattlesnakes, both yellow and mud-colored could be seen alive, and coiled ready to strike with their poisoning fangs.
The fences at this period of time were built mostly of posts set in the ground and three or four rails or poles spiked to the posts with sixteen penny cut fence nails. The rainfall was so great that it washed the cut hay from the rolling land, the
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valleys and the bottom lands along the spring brooks and creeks, off the fields and lodged it against the fences, thereby damming the water until it was from three to four feet deep. The weight and pressure of such a body of water so great against the fences caused them to give way and a wave of water and accumulated rubbish of three to four feet high passed down stream gathering force from similar bodies of water and breaking other similar obstructions, taking houses, stables, bridges and everything in its course, and swelling Weisel Creek and the south branch of Root river to a height of overflowing that was never known to the inhabitants of that part of Fillmore county before or since that fatal day. The estimated rainfall at this time was from four to six inches. The valleys that furnished the greatest quantity of water were: The valley leading from Albert Nichols' spring on section 25, township 101, range 9; the valley leading from the J. W. Goudy spring on section 26, township 101, range 9: the valley leading from the Godfrey Frego spring on section 27, township 101, range 9; the valley leading from the Godfrey Marotz spring on section 22, township 101, range 9; the valley leading from the J. R. Nelson spring (the source of Weisel creek) on section 21, township 101, range 9; the valley leading from the Joseph Woodle spring on section 8, township 101, range 9; and the valley leading from a spring on section 11, township 101, range 10, which is the source of the south fork of Root river. The rainfall was not so great in township 102, range 8, (Preble town- ship), as it was in township 101, range 9, (Canton township), but the drowning of the people and the greater part of the domestic animals was in Preble township.
The first building of much value on Weisel creek that was removed by this flood from its foundation was situated on section 29, township 102, range 8 (Preble township), about one hundred rods southeast of Hall's Mill. This was a log cabin house on the north side of the road running from the mill east to the settlement on the prairie, and west of the bridge across Weisel creek. This house was erected in the latter part of the fifties by Thomas G. Hall and for a time was used as a residence for himself and family. In the first part of the sixties it was leased to Ole Torger- son who was a shoemaker by trade. Torgerson and his wife and Hans Aastad (unmarried), who was better known as "Wolf Hans," occupied this house on the eventful night. The flood car- ried it from its foundation a short distance and toppled it over against some oak trees, where it became stranded. Torgerson and his wife climbed up as high in the house as they could to get away from the water and remained there until the morning of the seventh. Hans Aastad cut a hole through the roof of the house and crawled out into a tree top, where he perched himself and
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remained there in the rain. Wet and cold, he was relieved from his unpleasant situation about nine o'clock on the morning of the seventh, when some of the neighbors came to the rescue of Ole Torgerson and his wife.
The next building swept away was the grist mill of Collins Hall, which was built in the year 1857 and was situated on the Weisel creek about one hundred rods down the stream from the Torgerson home to the northwest. The writer will give the description of the destruction of the mill as related to him by Collins Hall, the proprietor of this mill. Mr. Hall said that he slept in the mill nights, and at about 11:30 o'clock on the night of August 6, 1866, he was awakened by the roar of the turbulent water, went to the door of the mill and at once saw that his exit from the place was an impossibility. He then hastened upstairs and stood beside the bolting chest. The water in huge waves was rising rapidly, and he expected the mill would soon be dashed to pieces against the trees. The mill left the foundation and floated down the race all intact until it struck a clump of elm trees about twenty rods below where it stood. The building then parting at the top of the roof, and the structure went to pieces. Collins Hall caught hold of the bolting chest and went floating down stream, which was then about twenty rods wide. The rain continued to pour down in torrents, the lightning at this time was terrific and flash after flash lighted up the surrounding hills. Mr. Hall, after floating down stream in a westerly direction for a distance of about forty rods, clinging to the bolting chest, saw when the lightning flashed at its best a glimpse of the hill to the north, which seemed to him not far away. He then relinquished his hold on the bolting chest thinking that the water was shallow enough so that he could wade out to the land. But to his sur- prise he went down in the water where it was about six feet deep. However, being an expert swimmer, he struck out and swam to the northwest, a distance of eight or ten rods, when he encountered a large clump of white thorn bushes which he caught hold of and found that the water there was about four feet deep. He then waded obliquely with the swift and strong current until he came to terra-firma, wet, tired and completely exhausted. He then, by the aid of the flashes of lightning wended his way through the rain to a cabin house on the hill north of where the mill had stood and remained there until morning. As soon as day dawned he left the cabin and went down the steep hill near where the mill had stood and sat down upon a rock and pro- ceeded to take his "greenbacks" from his pocket-book and spread them upon a rock to dry. He was contentedly reviewing the result of the flood, when he was discovered on the morning of the seventh by his son-in-law (Thomas Tough), who lived in a
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house owned by Mr. Hall, on the south side of Weisel creek near the mill. When Tough saw Hall seated on a rock on the side of the hill he called to him and inquired what he was doing up there. Hall answered, "I have just finished taking a bath." Thomas Tough, who at this time was not financially well fixed and who did not realize the seriousness of the situation, on the morn- ing of the seventh discovered that not only the mill was gone, but also his stables, sheds, horses, cattle, poultry, about twenty hogs, and most of his farm tools and machinery.
From Hall's mill the mad waves of this turbulent stream coursed their way northwest a distance of one and a half miles, where they struck the sawmill of Ethan P. Eddy that was sub- stantially built in the year 1858, on the south side of the north- east quarter of the northwest quarter of section 29, township 102, range 8 (Preble township). Here the destruction was complete, as the mill, saw-logs and lumber were swept away and distributed in the huge piles of driftwood on the way down the stream a distance of a mile from where the mill stood.
From the Eddy sawmill the raging torrent wended its way northwest and north a distance of about two miles to the home of David Weisel, a pioneer of 1855. Here the Weisel creek formed a confluence with the south branch of the Root river that was also at a high stage of water, and dealing out destruction of property to the early settlers along that picturesque stream. Below this junction was the cabin home of David Weisel, and a sawmill and a corn cracker that was erected in 1855 and 1856 near the northeast corner of section 19, township 102, range 8 (Preble township). These mills were of the primitive kind. The ma- chinery of the sawmill, with the exception of the saw and a few castings, were made by Weisel's own hands. The mill- stones used in the corn cracker were cut from a limestone rock found in a hill near by, and chiseled to suit his fancy. These mills plainly showed that "necessity is the mother of invention," and certainly tested the ingenuity of the builder. They were operated successfully by the proprietor until that fatal night of August 6, 1866. There was no more warning than a slight jar of the cabin, which awoke David Weisel from his slumber. He quickly arose from his bed and went to the door of the cabin in his night attire. Just as he opened the door, the house was swept from its foundation and immediately went to pieces. The inmates in this house were David Weisel and his wife, David Weisel's mother, who was past eighty years of age, David Weisel's nephew, named John Weisel, twelve years of age, and Mr. and Mrs. Calvin Brace, of Burr Oak, Ia. The latter two were aged people, and were visiting the Weisel family on that eventful night, they being old acquaintances in the state of New York. All of
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