History of Otter Tail County, Minnesota: Its People, Industries and Institutions, Volume I, Part 35

Author: John W. Mason
Publication date: 1916
Publisher:
Number of Pages: 765

USA > Minnesota > Otter Tail County > History of Otter Tail County, Minnesota: Its People, Industries and Institutions, Volume I > Part 35

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).

The First State Bank of Underwood was organized, March 15, 1908, with the following incorporators: Charles D. Wright, F. G. Barrows, M. T. McMahon, E. A. Jewett and F. E. Solomonsen. Nils Wilson, K. K. Onstad, P. K. Onstad, C. J. Moen, M. J. Moen and E. S. Evenson were also stock- holders. The original amount of capital stock of this corporation was $10,000 divided into one hundred shares of one hundred dollars each. This stock can be increased from time to time by a majority vote of stockholders, but not to exceed the sum of $25,000. The government of this corporation is vested in a board of five directors and consists of the following: Charles D. Wright, F. G. Barrows, M. T. McMahon, R. A. Jewett and F. E. Solomonsen.

The deposits of this bank as shown by the last statement for the year 1915 were $172,908.63 with a surplus of $9,000. The present officers are C. D. Wright, president; E. A. Jewett, vice-president; F. E. Solomonsen, cashier. The present bank building, which is the property of the bank, was erected in 1914 at a cost of $6,000.

FARMERS STATE BANK OF UNDERWOOD.

The Farmers State Bank of Underwood filed its articles of incorpora- tion on November 8, 1915, and opened for business on January 3, 1916, in the room formerly used for the postoffice. The bank started with a capital stock of $12,000, which, according to its articles of incorporation, may be increased to $25,000. The original stockholders were E. S. Evenson, C. J. Moen, C. E. Olson, John Gronner, C. K. Pederson, O. C. Boyum and T. M. Alexander. The officers of the bank include the following: C. J. Moen,

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president ; O. C. Boyum, vice-president ; E. S. Evenson, cashier. The officers, together with C. E. Olson, T. M. Alexander, C. K. Pederson and John Gronner, constitute the board of directors. The bank now has deposits of $15,0000, with a surplus of $3,000.

FIRST STATE BANK OF NEW YORK MILLS.

The First State Bank of New York Mills was organized in 1903 as a private bank by W. R. and C. W. Baumbach, of Wadena. The officers of this bank were W. R. and C. W. Baumbach and E. J. Austin. It continued as such until May 1, 1908, when it was incorporated as a state bank. The stockholders of the newly incorporated bank were as follow: W. D. Mer- ickel and A. J. Merickel, of Wadena, E. R. Rosser and A. J. Sitz, of New York Mills. The capital stock of the bank as fixed by the articles of incorpo- ration was $10,000, which has never been changed. This is divided into one hundred shares of one hundred dollars each. The firm and conservative methods of this bank have placed it on an excellent basis. The last state- ment of the bank shows deposits amounting to $165,000, with a surplus of $8,000. The present officers of the bank are J. W. Jacobson, president; Felix Nyland, vice-president; Edward T. Olson, cashier; and Charles G. Hyry, assistant cashier.

FARMERS AND MERCHANTS BANK OF NEW YORK MILLS.

The Farmers and Merchants Bank of New York Mills was organized on November 23, 1915, and opened for business on January 17, 1916. The original capital stock of $12,000 was held by the following: John Perala, A. J. Sitz, A. E. Blomberg, I. K. Maki, Jonas M. Ojola and E. R. Rosser. The bank's quarters are now located in the R. A. Williams block, where it has installed the conveniences for modern banking. The present officers of the bank are as follow: A. J. Sitz, president; I. K. Maki, vice-president; E. R. Rosser, cashier, who with John Perala, E. A. Rousu and E. A. Blom- berg, comprise the board of directors. The bank at the end of its first month of business had deposits of $25,000, and a surplus of $3,000.

FIRST NATIONAL BANK OF DEER CREEK.

The First National Bank of Deer Creek was organized on May 23, 1904, with the following members as first stockholders and organizers: L. W. Babcock, C. C. Haupt, John W. Mason, E. J. Webber, James A. Brown, A. D. Baker, Thomas N. McLeon, F. J. Evans, James G. Shontz, Frank B. Coon, Isaac Hazlett, J. J. Meyer, Paul E. Kenyon, D. A. Som- merfield, E. M. Jacobsen, E. M. Jacobsen, Richard Anderson, A. C. John- son, Ida M. Anderson, O. J. Smith and Matt Nelson. The first officers were: E. J. Webber, President; L. W. Babcock, vice-president; A. D. Baker, cashier; H. J. Baker, assistant cashier. These officers and the following

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made up the board of directors : F. J. Evans, Charles C. Haupt, Isaac Hazlett and James A. Brown. The original capital stock was placed at $25,000 and has remained as such to the present time. The deposits according to the last statement of the bank, were $133,000 with a surplus of $7,000. The bank building is located on lot 1, block 2, Baker's addition to Deer Creek.

It is interesting to note that this bank was originally opened as a private bank and did business under the name of A. D. Baker & Co., Bankers. The present officers are : James A. Brown, president; A. P. Johnson, vice- pres- ident; A. D. Baker, cashier; E. F. Selvig, assistant cashier. The directors are: James A. Brown, Paul Kenyon, A. D. Baker, F. J. Evans, E. F. Selving, A. P. Johnson and H. E. Webber.

LUND'S STATE BANK OF VINING.

Lund's State Bank of Vining was originally organized as a private bank with a capital stock of $5,000. It was first opened for business in 1904 by A. T. Lund and his six sons. This was incorporated as a state bank, January I, 1907, with a capital stock of $10,000. The capital stock can be increased from time to time by a majority vote of the stockholders. The names of the incorporators were: A. T. Lund, O. A. Lund, H. A. Lund. Charles A. Lund, A. T. Lund Jr., E. A. Lund, residents of Vining, and M. B. Lund, of Henning. The government of this bank and the managements of its affairs is vested in a board of three directors. The first board of directors serving this bank was: A. T. Lund, Sr., Charles A. Lund and A. T. Lund, Jr. The first officers of the bank were: A. T. Lund, Sr., president; A. T. Lund, Jr., vice-president; Charles A. Lund, cashier. The statement for the bank shows deposits for the present year amounting to $50,246.53, with a surplus of $2,000. The present officers are: A. T. Lund, Jr., president; O. A. Lund, vice-president; Charles A. Lund, cashier; T. S. Nyhus, assistant cashier. The present bank building was erected in 1913. This is a brick structure, finished in marble and mahogany, with double vaults on the ground floor and a storage vault in the basement.

FARMERS STATE BANK OF VERGAS.

The Farmers State Bank of Vergas was organized on June 15, 1904, with the following stockholders: L. W. Oberhauser, Charles W. Higley, James Nesbitt, Charles A. Peterson and B. Stangenes. The original amount of capital stock was placed at $5,000, but this was later increased to $10,000, and to $15,000 in January 1916. The government of this bank is vested in a board of three directors. The first directors and officers of the bank were as follow : L. W. Overhauser, president; Charles W. Higley, vice-president ; and George M. Hopp, cashier. According to the last statement of this bank the deposits totalled $80,000, with a surplus of $2,000. The present officers

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are: L. W. Overhauser, president; Charles W. Higley, vice-president, and \V. F. Ladwig, cashier. The bank owns its own building, which is located on Main street in the village of Vergas. This bank is associated with the Farm- ers State Bank of Dent, Farmers State Bank of Richville, First National Bank of Perham and the First National Bank of Frazee.

MERCHANTS STATE BANK OF ELIZABETH.

The Merchants State Bank of Elizabeth was incorporated on May 6, 1907, and opened for business on the 3rd of the following month. It started with a capital stock of $10,000, which was divided into a hundred shares of one hundred dollars each. The list of incorporators were as follow: Peter Maurin, Frank Grawns, Marcus Maurin, Syverin O. Sletwold, L. W. Bell, William Becker, B. Schroeder, O. C. Rian, W. S. Lee, all residents of Eliza- beth, and G. R. Wedgewood, C. E. White and Charles Bradford, residents of Monticello. The government of this corporation and the management of its affairs is vested in a board of five directors, who are elected at the annual meeting of the stockholders, held on the first Tuesday after the first Monday of April. The first board of directors consisted of Peter Maurin, O. C. Rian, Charles Bradford, G. R. Wedgewood and Charles E. White. The bank owns its own building, which is located on lot 5, of block 2, in the village of Eliza- beth. The last reports of the bank shows deposits of $173,134.85, with a surplus and undivided profits of $9,126.09. The present officers are as follow : O. C. Rian, president; L. D. Barcalow, cashier; Charles Bradford and O. C. Rian, directors.

FARMERS STATE BANK OF RICHVILLE.

The Famers State Bank of Richville was started as a private bank in September, 1904, by P. H. Jones, O. A. Zimmer and C. F. Franz, who were president, vice-president and cashier, respectively, of the bank. For three years the bank was in the hands of these owners, Jones and Zimmer dispos- ing of their interests in 1907 to L. W. Oberhauser and others. The year following (February 15, 1908) the bank was reorganized as a state bank and commenced business the following month under a charter granted by the state. The present officers are as follow: L. W. Oberhauser, president; Charles W. Higley, vice-president; C. F. Franz, cashier; G. L. Brooks, assistant cashier. The last report of the bank shows deposits of $40,000, with a surplus of $2,000. The bank owns its own building.

FARMERS STATE BANK OF DENT.

The Farmers State Bank of Dent was incorporated on February 15, 1908, and opened for business on February 18. The original incorporators were: L. W. Oberhauser, Charles W. Higley and E. H. Essig. T. R. Daniel, Howard DeMott and D. Mackerchar were also in the list of the

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original stockholders, but were not included in the incorporation articles. The original amount of the capital stock of this corporation was $10,000, divided into one hundred shares of one hundred dollars each. The capital stock may be increased from time to time by a majority vote of stockholders, but not to exceed the sum of $50,000. The management of this corporation is vested in a board of three directors.

That the bank is in a prosperous condition is shown by the last statement which places the amount of deposits at $75,000 and a surplus of $2,000. The present officers are: L. W. Oberhauser, president; Charles W. Higley, vice-president, and Edward J. Stoll, cashier. The directors voted on January 19, 1916, to increase the capital stock from $10,000 to $15,000.

FIRST STATE BANK OF DALTON.

· The First State Bank of Dalton was started as a private bank in 1903, and was called the Bank of Dalton. It was incorporated as a state bank on March 15, 1908, and started business under its new charter on April 6, of the following month. The following names appear on the incorporation articles of the State Bank charter: Charles D. Wright, F. G. Barrows, M. T. McMahon, E. A. Jewett and O. I. Brandvold, all of Fergus Falls. The amount of capital stock when incorporated in 1908 was $10,000, divided into one hundred shares of one hundred dollars each. The capital stock can be increased from time to time by a majority vote of the stockholders, but not to exceed $25,000. The highest amount of indebtedness or liability to which the bank shall at any time be subject is $200,000. The government of this corporation is vested in a board of five directors. The first board of directors consisted of the following members: C. D. Wright, F. G. Barrows, M. T. McMahon, E. A. Jewett and O. I. Brandvold.

The last statement shows deposits totalling $156,000, with a surplus of $8,000. The present officers are: F. G. Barrows, president; E. A. Jewett, vice-president, and Joseph P. Brendel, cashier. The bank building is loca- ted on lot S, block 2, in the village of Dalton. This is a brick structure, erected in 1914, at a cost of $7,000.

THE FIRST STATE BANK OF CLITHERALL.

The First State Bank of Clitherall was organized on January 1, 1908, and opened for business on the 22nd day of that month, with a capital stock of $10,000, which was divided into one hundred shares of one hundred dol- lars each. The names of the incorporators are as follow: Isaac Hazlett, Minneapolis ; Ellen Clark, Clitherall; F. B. Coon, J. G. Howe, F. F. Latta, J. J. Meyer and W. E. Parker, all residents of Wadena. The first board of directors consisted of the original incorporators and the annual meetings of the stockholders are held on the second Monday of January. The capital

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stock may be increased from time to time by a majority vote of the stock- holders, but not to exceed the sum of $25,000. The highest amount of indebtedness or liability to which the incorporation can any time be subject is $100,000. Isaac Hazlett was the first president of this bank and L. M. Clark, cashier.

At a meeting of the stockholders of the above-named bank, held at the banking house on January 23, 1913, a resolution was adopted to change section 4, which stated that there should be seven directors to read "not less than three or more than seven directors, the number to be determined by the stockholders at each annual meeting."

The bank is at present on a firm basis, as shown by the last statement, which places the deposits at $51,000 with a surplus of $2,000. The building in which the bank is located is the property of the bank. H. A. Gosslee is the present cashier.

SECURITY STATE BANK OF OTTER TAIL.

The Security State Bank of Otter Tail was organized on March 25, 1908, with the following incorporators: N. J. Schafer, W. A. Haugh and Henry Miller, these three men serving the bank as president, vice-president and cashier, respectively. The original amount of capital stock was $10,000, divided into one hundred shares of one hundred dollars each. This stock may be increased from time to time by a majority vote of the stockholders, but not to exceed the sum of $25,000. The government of the bank and the management of its affairs are vested in a board of three directors. The first board of directors consisted of N. J. Schafer, Henry Miller and W. A. Haugh. The present officers of the bank are N. J. Schafer, president; H. S. Frazer, vice-president, and Henry Miller, cashier. The last statement of the bank shows deposits amounting to $40,753.45, with a surplus of $20,000, and shows the prosperity of the bank at the present time.

THE STATE BANK OF BLUFFTON.

The State Bank of Bluffton was incorporated July 1, 1911, and opened for business on the second of the following month. The amount of capital stock of this bank was $12,000, which was divided into one hundred and twenty shares of one hundred dollars each. It was provided that the capital stock might be increased from time to time by a majority vote of the stock- holders, but must not exceed the sum of $50,000. The names and places of residence of the incorporators were as follow: Charles Bradford, Monti- cello; C. E. White, Monticello; F. D. Bradford, Monticello; L. D. Thayer, Clarissa : J. A. Otte, Paul Hamkens, Bluffton; Anton Raykowske, Bluffton, and Bern Kluenenberg, Bluffton. The first board of directors consisted of the following members: L. D. Thayer, J. A. Otte, C. E. White, Charles

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Bradford and Paul Hamkens. The first officers were as follow: L. D. Thayer, president; F. Wiechmann, vice-president; J. A. Otte, cashier. The last report indicates that the bank has deposits of $50,000, with a surplus of $3,000. The bank owns the building in which it does business.

ERHARD STATE BANK.

The Erhard State Bank was organized on May 6, 1913, and was opened for business on the 9th day of August. 1913. The incorporators were: P. M. Knoff, A. O. Solum, M. I. Grina, John M. Vaglo, H. H. Knobel, Alex Sha, Ed Sha, I. O. Grina, Axel Knutson, K. D. Thompson, E. W. Leeper, E. M. Nelson and Edward Thompson, all residents of Erhard. Other stockholders were K. Stenerson and E. J. Ovri, Pelican Rapids; Robert Hannah, M. T. McMahon, Elmer E. Adams, C. W. Kaddatz and F. A. Jewett. Fergus Falls.

The original amount of capital stock was $10,000, divided into one hundred shares of one hundred dollars each. The capital stock may be increased from time to time by a majority vote of stockholders, but not to exceed the sum of $25,000. The highest amount of indebtedness or liability to which the corporation can at any time be subject is $120,000. The first officers were, E. A. Jewett, president; K. Stenerson, vice-president; H. H. Knobel, P. M. Knoff, Axel Knutson and Robert Hannah, directors; Edward Thompson, cashier. The present officers are the same as those at first, with the exception of I. O. Grina, who took the place of Robert Hannah on the board of directors. The deposits, according to the last statement of the bank. amount to $50,000, with a surplus of $2,000. The bank is located on its own lots (18 and 19), block I, of the village of Erhard.

ALMORA STATE BANK.

The Almora State Bank was incorporated on March 28, 1914, and opened for business on the 8th of the following month. The incorporators were as follow: A. O. Netland and S. A. Netland, Northfield, Minnesota ; G. C. Skeim and Ole A. Netland. Audubon, Minnesota; Ole P. Boyer, Detroit, Minnesota. The original capital stock was $10,000, divided into one hundred shares of one hundred dollars each. It was provided that the capital stock might be increased from time to time by a majority vote of stockholders, but not to exceed the sum of $25,000. The first officers and directors were A. O. Netland, S. A. Netland and G. C. Skeim. All of the stockholders of this bank are experienced in the banking business and the deposits for the present year show the firm basis of the bank's accounts. The last statement shows deposits of $35.550.69 with a surplus of $2,000. The building in which the bank is situated is located on lot II, block 2, of the village of Almora and is the property of the bank. The building and its equipment cost $5,125, and makes very comfortable and commodious quarters for a bank.

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FARMERS STATE BANK OF CARLISLE.

The Farmers State Bank of Carlisle was organized on May 25, 1915, and opened for business on September 15. 1915, in their new building which had just been recently completed. The stock of the bank, divided into shares of one hundred dollars each, is divided among fifty people in the vicinity of Carlisle, Minnesota. The capital stock can be increased from time to time by a majority vote of the stockholders, but cannot exceed the sum of $25,000. The highest amount of indebtedness or liability to which the bank may at any time be subject is $120,000. The deposits of this bank, according to its last statement, were $32,000, with a surplus of $2,000. The first annual meeting of the stockholders, after the bank opened for business, was held October 6, 1915, and at that time the following were present: F. J. Evans, Peter Lokken, Albert Hexum, Henry Halvorson, Frank Fjestad, Henry G. Dahl, Ole Haug, H. P. Sethre, Peter Sethre, Casper Lein, John J. Sethre, Nels Hegseth, Carl A. Setheren, Chr. P. Sethre, Robert Lill, Wencel Lill, Chris Evjen, Theo. Fjestad, C. O. Kan- trud, L. O. Linner, Martin Hexum, Nils Haagenson and Theodore Fossen.

The following stockholders were elected directors to serve until the first meeting in January: F. J. Evans, Fergus Falls; Peter Lokken, Carlisle; Henry G. Dahl, Fergus Falls; Albert Hexum, Carlisle; Frank Fjestad, Car- lisle; Henry Haldorson, Carlisle, and Theodore Fossen, Carlisle. The officers elected were as follow: Henry G. Dahl, president; Frank Fjestad, vice- president, and Theodore Fossen, cashier. At the stockholders meeting held January 13, 1916, all the officers and directors were re-elected.

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CHAPTER XIX.

THE PRESS.

The first newspaper in Otter Tail county was established at Fergus Falls by Orange S. King and made its initial appearance on Saturday, April 15. 1871. Strange to say, the commissioners' records of March 14, 1871, printed in the first issue of the paper, state that the Advocate is "hereby appointed and constituted the official paper of Otter Tail county." This makes it appear that the paper had intended to start sometime prior to its actual appearance. The first issue contains advertisements and other read- ing matter printed in the Norwegian tongue and promises its Scandinavian readers that it will continue to print part of each issue in their language. The only file of this paper is in the possession of Hon. John W. Mason, who has one bound volume which contains practically all of the issues up to and including the issue of May 19, 1875. This is the best storehouse of information concerning the early history of the county. King came from Minneapolis and being a practical newspaper man made his paper a success from the start.

The second paper in the county was established at Otter Tail City in September, 1871. Only one copy of this paper is known to be in existence and it is bound in with four years' files of the Fergus Falls Advocate in the possession of Mr. Mason. This single issue of the Otter Tail City Record, as the paper was called, is dated Saturday, January 27, 1872. Vol. I, No. 22. If the paper had been published continuously from its establish- ment up to this date it would have been started during the first week in September, 1871. It has often been said that the Record was the first paper in the county, but this makes it certain that the Fergus Falls Advocate, which issued its first number April 15, 1871, was the pioneer sheet in the county. The Record was edited by W. F. Ball and owned by E. G. Holmes, a mer- chant of Otter Tail City. There is very little local news in this stray copy of the Record. Since this one issue of the paper is only one extant, it seems pertinent to give the substance of its contents in order to show the importance of the "city" at that time. A summary of its advertisers is first noted. General merchandise, England & Johnson, who have the "most extensive and commodious establishment that can be found in the north- west." Furthermore, this firm, in their full column advertisement says that, among other things, they have a complete line of "groceries, dry goods, provisions, boots, and shoes, findings, paints, oils, cook and heating stoves. nails, iron, sash, window glass, doors, all kinds of furniture, plows, crock-

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ery ware, tin ware, glass ware, wooden ware and wares of all kinds." 1 .. D. Dagget had a drug store in the postoffice building and was also agent for the Howe sewing machine. There were three flourishing hotels. Thatcher Stone had a newly furnished house with "clean beds and comfort- able rooms." The St. Paul House, with H. Houde as proprietor, claims that he "is now prepared to accommodate the traveling public in a manner not to be surpassed north or west of St. Paul." William McArthur, pro- prietor of the City Hotel, evidently operated a saloon in the rear of his hostelry. A meat market was in charge of M. Anderson. A brewery had just been opened by Joseph Barrett and he imparts the information in his advertisement that he is now "prepared to supply all those desirous of pur- chasing with as good beer as can be found in the state, by the keg, barrel or load." S. Whitney announces himself as proprietor of the billiard hall, and also admits that he carries a full line of "wines, liquors and cigars-call and sample my stock." But the advertisement which demands special atten- tion is that of E. G. Holmes, proprietor of the Northwestern Store. Holmes was the Wanamaker of the "City," and his store, to judge from his adver- tisement, carried more goods than any store in Otter Tail county today. In the opening of his advertisement he says that he would again "inform his friends and the balance of mankind that he is still at the old stand, where he is daily supplying his customers with every description of merchandise." Furthermore, he says that he has corresponded with all the wholesale houses in the east and that he now has "every classification of luxury and necessity," but he adds that "in the calling attention to a mammoth outfitting depot like this it is impossible to classify and specify the wares in their proper order." Then followed a description of some of the goods, the advertisement clos- ing by saying that he carries "the best samples of wines, liquors and cigars." Thomas Conroy informs the citizens of Otter Tail City that he will under- take to do all kinds of blacksmithing, and F. A. Mutschler declares himself in the same line of business at Rush Lake. J. Berns & Veifert carry an advertisement to the effect that at Rush Lake they manufactured, during the past season, over one hundred thousand brick, and that they are now selling brick at ten dollars and fifty cents per thousand. The rest of the advertisements in this Otter Tail City Record of January 27, 1872, consist of the professional cards of the following : W. F. Ball, Reynolds & Nelson, E. E. Corliss and G. W. Holland, all attorneys and counsellors-at-law. Some prices in Otter Tail City at this time might be interesting. Butter was worth twenty-five cents a pound, corn ninety cents, barley sixty-five cents, oats sixty-five cents, wheat one dollar and twenty-five cents, potatoes sixty cents, hardwood two dollars and seventy-five cents a cord. L. D. Dagget was postmaster of the city and received mail from the east on Sun-

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History of Otter Tail County, Minnesota: Its People, Industries and Institutions, Volume I, Part 35

Author: John W. Mason Publication date: 1916 Publisher: Number of Pages: 765

Author: John W. Mason
Publication date: 1916
Publisher:
Number of Pages: 765