USA > Minnesota > Rice County > History of Rice and Steele counties, Minnesota, Vol. I > Part 77
USA > Minnesota > Steele County > History of Rice and Steele counties, Minnesota, Vol. I > Part 77
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W. A. Selleck a Steele county boy who received his educa- tion largely here, studied law with Judge Hickman and was admitted to the bar on December 4, 1884. The spring follow- ing he removed to Lincoln, Neb., entered into a partnerhsip with Arthur W. Lane and continued in partnership and the practice of law till 1896, when he retired from the firm and went into the hardware business in that city. He is still in that business so far as I am able to learn.
B. F. Hood was municipal judge of this city for two years. He was born in Orleans county, New York, December 4, 1836. Judge Hood came to this county in 1899 from Dodge county, Minnesota, where he located the year previous. He had been admitted to the State courts of Iowa, South Dakota and Minne- sota, and to the United States District, Circuit and Supreme courts. He was also one of the regents of the State University, of Vermilion, S. D., during his residence in that state. Mr. Hood died in this city on December 3, 1906.
Hon. John L. Gibbs was born in Bradford county, Penn- sylvania, in 1838. He was educated in the common schools, LeRaysville Academy and Susquehanna Collegiate Institute. He graduated from the Ann Arbor Law school in 1861, was ad- mitted to the bar in Freeborn county, September, 1861, and was clected county attorney in 1862. He soon gave up the practice of law and went to farming, in Geneva township, Freeborn county, having one of the best farms in that section. He was in the house of representatives in 1863, 1864, 1875, 1876, 1884 and 1894; was speaker in 1877 and 1885; railroad commissioner from 1887 to 1891, and lieutenant-governor in 1897 and 1899. He came to Owatonna in 1898, where he died November 28, 1908.
W. C. Hadley was born in Maquoketa, Iowa, December 12, 1856. Ile came to Owatonna in 1876 and commenced the study of law with his brother, C. W. Hadley. He practiced but two
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years when he took up the study of medicine and in 1885 re- ceived his diploma from the Rush Medical College of Chicago. In 1886 he removed to Ogden where he died July 24, 1891.
F. A. Dunham is one of the younger members of the Steele county bar. He was born on March 1, 1875, at Faribault, Minn., removing to this county the same year. He graduated in the Owatonna High school in 1897 and was admitted to the bar in St. Paul in September, 1901. He commenced his professional practice in his office in the Kelly block on December 1, 1903. He was raised on a farm in the southern part of Steele county and is now the municipal judge of this city.
James M. Burlinghame, Jr. was reared and educated in this county where he studied law with J. M. Burlinghame, Sr., and was admitted to the bar in 1889. Soon after this he went west and located in Great Falls, Mont., where he has ever since re- sided and is now holding the position either of register or re- ceiver of the government land office in that city.
W. D. Abbott was raised in Steele county and received his education in the schools of the county, studied law with Messrs. Sawyer & Sawyer and was admitted to the bar on June 9, 1884, afterwards locating in Waseca, where he became a member of the firm of Sawyer, Abbott & Sawyer. Subsequently he re- moved to Winona where he now resides and is a member of the firm of Brown & Abbott of that city. Messers. Brown and Abbott are the attorneys for the Chicago & Northwestern Railroad.
Eugene Rice was born at Sparta, Wis., August 14, 1863. Re- ceived his education in the schools of this city and in the law department of the University of Madison, Wis. He located in the practice of his profession in St. Paul, Minn. He became the governor's clerk during the administration of Governor Lind, subsequently removed to Seattle, where he was in practice for two years, and afterwards removed to this city and in the fall of 1904 was elected judge of probate, which position he held for four years.
E. W. Hauck is a graduate of the law department of the University of Minnesota and practiced in this city for about a year, subsequently removing to Minneapolis, where I under- stand he still is and has gone into the newspaper business.
David Benton Johnson studied law in this city and was ad- mitted to the bar of this county February 16, 1876. He remained here till some time about 1880, when he removed to Minneapolis, and continued in the practice of his profession, subsequently becoming one of the leading Democratic politicians of that city. I learned something over a year ago he became a paralytic and is unable to attend to any business.
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Frank G. Bohri is a native of Wisconsin and came to this city and studied law with A. C. Hickman. He was admitted to the bar here on June 8, 1878, subsequently removed to Clark, S. D., where he was the last I knew of him.
R. H. Taylor is a son of Robert Taylor of Kasson, Dodge county, Minnesota, where R. H. was born. Mr. Taylor was in practice about a year in this city, subsequently removing to Minneapolis and later to Cedar Rapids, lowa, where he now resides but is not in the practice of his profession.
Edwin K. Burch is a native of the state of Michigan. He came to this city and studied law in the office of Judge Wheelock and was admitted to the bar December 16, 1876. He subse- quently removed to Dencsen, Iowa, where he still resides in the practice of his profession.
George L. Carey was born in Steele county, Minnesota, and studied law in the office of Wheelock & Sperry in this city, and I think was admitted to the bar in this city, although I have been unable to find the record of his admission. Subsequently he moved to Duluth and went into practice with William J. Leary. After several years practice in that city he went into the bank- ing business in the northern part of the state and later moved to Livingston, Mont. He became cashier of the First National Bank of that city. Later he disappeared and his present where- abouts are unknown.
William J. Leary was born in McHenry county, Illinois, March 24, 1865, and was educated in the public schools of this county and in Pillsbury Academy. He was admitted to the bar on June 10, 1887; subsequently moved to Duluth and entered into partnership with George L. Carcy. He remained in Du- luth until a short time before his death, which occurred in this city January 31, 1891.
F. L. Farley is a native of Michigan. He studied law here in the office of Wheclock & Sperry, subsequently taking a course in the law university. Located in the practice of his profession in Waseca, he remained there till about 1904, when he removed to Red Lake Falls, Minn., where he now resides.
C. J. O'Brien was born February 8, 1857, near Faribault, Minu. He was reared on a farm, received an academic educa- tion, taught several years in the public schools, finished his law studies in the office of Hon. G. W. Batchelder, of Faribault, and was admitted to the bar in November, 1886. During the two succeeding years he was principal of the New Prague public schools, formed a copartnership with Hon. M. M. Shields, now deputy revenue collector, and established the "Faribault Pilot" in Angust, 1888. He sold out his interest in October, 1889, and moved to Owatonna, where he was engaged in the practice of
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law up to the time of his death. October 30, 1903. He held the office of municipal judge from March, 1893, to March, 1895. He was for three terms city attorney in this city.
Delos Higby was a native of New York, from which state he moved to Minnesota in 1865, coming directly to Owatonna. He was admitted to the bar prior to his coming west but never actively engaged in the practice of law. For a time he was in the mercantile business in this city in partnership with his wife. He was a large owner of real estate and gave most of his attention to loaning money and looking after the interests of his farms. Mr. Higbie died in Chicago, January 15, 1905.
A. W. Sawyer was born at Owatonna, Minn., May 10, 1883, son of Joseph A. Sawyers with whom he is now associated in the practice of law in this city. He was educated in the country schools, the city High school and Pillsbury academy, studied law in his father's office, took the state bar examination and was admitted October 1, 1906.
Charles I. Reigard was born in Cambria county, state of Pennsylvania, on February 8, 1862, removed to Benton county, Iowa, in 1869, was educated in the public schools of that county, and at Tilford academy, Vinton, Iowa, and Cornell college, Mt. Vernon, Iowa. He completed a law course at Drake university at Des Moines, Iowa, where he was admitted to the bar during the month of May, 1896. He commenced the practice of law at Spirit Lake, Iowa, immediately upon his admission to the bar and continued in his profession at that place until September, 1906, when he removed to Owatonna, at which place he has ever since been in the practice of his profession. In 1907 he en- tered into partnership with Harlan E. Leach and is now junior member of the firm of Leach & Reigard. The firm has been engaged in some very intricate litigation both in the state and in the United States courts. In 1908 Mr. Reigard was elected mayor of Owatonna, which office he held for the period of one year.
Fred A. Alexander was born at Kasson, Minn., January 8, 1881, son of Charles J. and Amelia (Niles) Alexander. His earlier education was received in the common schools and Kas- son High school. He graduated from Kasson High school in 1900 and attended Steinman's Business College, Dixon, Ill. Later he attended the University of Minnesota, spending one year in the academic department and three years in the college of law, graduating from the college of law and receiving the degree of LL. B., June 3, 1904. He began the practice of law at New Ulm, Minn., August 15, 1904, was appointed city attor- ney of New Ulm and acted as such six months before removing to Owatonna, on September 1, 1905, at which time he formed
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a partnership with Hon. S. T. Littleton under the firm name of Littleton & Alexander, continuing in such partnership until the death of Mr. Littleton on April 20, -1908. He was elected to the office of county attorney in November, 1908. Mr. Alexander is a member of the Alpha Tau Omega fraternity.
I find the following persons who have been at some time members of the bar of Steele county, but of whose education or time or place of admission I am unable to find any data : A. B. Cornell, W. D. Webb, J. A. Aiken, R. A. Ambler, Fredrick C. Parsons and Edward Brown. Mr. Brown I learn was a cousin of John Brown, whose "soul goes marching on." Edward Brown afterwards became a minister and subsequently removed to South Dakota.
These were among the early residents of the county and, with the exception of A. B. Cornell and J. J. Aiken, remained here but a short time and did not actively engage in the practice of law.
Besides these, Hon. Mark H. Dunnell was long a resident of our city. He was a member of the bar though he never enrolled among the Steele county bar. The same is truc of Hon. Carton E. Rice, who for many years has been a resident of this city but never engaged in the practice of law here. He was formerly a partner of Judge Bunn, recently retired from the United States district bench of Wisconsin, and died about a year ago.
W. A. Sperry. The writer of this sketch was born in Oak- land county, Michigan, on March 15, 1847. In 1858 he com- menced the battle of life on his own hook, hiring out to work on a farm through June, July and August of that year for the mag- nificent sum of $4 per month. On July 4 he, with other boys of the neighborhood, went to a celebration nine miles away, catching a ride or going on foot as best they could. Of all great days that was doubtless the greatest in the life of the writer. He had asked for 25 cents, but because his employer had no change he was given a $2 bill. This fact soon got noised about ! No prince of the royal blood ever had a more loyal following, or stood on a higher pedestal, or was more talked about or more envied among his fellows. For one day at least he was a Roths- child and Vanderbilt combined in one; he reveled in wealth. The Rubicon of want had been forever banished. Oh halcyon days of youth, who would not wish for their return! For seven ycars the writer worked on a farm summers and went to school winters; then two years of miscellaneous work, one of which was in the oil regions, where he worked at everything from a roustabout on a flatboat to an engineer of a stationery engine, and then he commenced to "keep school." He was educated in the common, graded and select schools of Michigan and Wis-
W. A. SPERRY
-
1
Y YORK
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HISTORY OF RICE AND STEELE COUNTIES
consin. In April, 1871, the writer came to Owatonna and en- tered upon the study of law in the office of Wheelock and Coggs- well, and was admitted to the bar of this county in December of that year, subsequently going to the State University of Michi- gan and graduating from the law department of that institution in March, 1873, after which he returned to Owatonna, continuing the study of law here till the January following, when he located in Mantorville, Dodge county, Minnesota. Ten days afterwards he was appointed county attorney and was subsequently elected to the same office for two succeeding terms, returning to Owa- tonna in the fall of 1879 on the invitation of Judge Wheelock to go into partnership with him. A partnership was formed which lasted for nearly twenty-nine years and up to the death of Judge Wheelock. In 1886 he was elected county attorney of Steele county and held that office for four years. He was elected to the state senate in 1894 for four years, and was member of the board of education of Owatonna for thirteen years, twelve years of which time he was president of the board. Mr. Sperry is still in active practice with office over the First National Bank, is the attorney of that institution and the Owatonna Manufac- turing Company and the local attorney of the Chicago & Rock Island Railroad, besides having a large general clientage.
The firm of Wheelock & Sperry at the time of the judge's death was the oldest law firm in southern Minnesota, if not in the state and the oldest partnership of any kind in the city. Both partners were admitted to practice in all the courts of the state and the United States District, Circuit and Supreme courts and were connected with most of the important cases in this county for the past thirty years.
CHAPTER VII.
BANKS AND BANKING.
Floating Railroad Bonds-Owatonna Banks-First Bank of Owatonna-Second Bank of Owatonna-The First National Bank of Owatonna-The Farmers' National Bank of Owa- tonna-Its Beautiful Building Described by Carl K. Bennett -First State Bank of Owatonna, now Security State Bank of Owatonna-Blooming Prairie Banks-Whitton and Haley -J. C. Brainerd & Co .- The State Bank of Blooming Prairie -First National Bank of Blooming Prairie-Farmers and Merchants' State Bank of Blooming Prairie-Ellendale- The Security State Bank of Ellendale.
The early history of the banking of this county commences as far back as 1857, the first bank being established primarily for the floating of the bonds of the Southern Minnesota railroad, which was then struggling to make its way from St. Paul to the little town of McGregor, Iowa, over practically the same route as the Chicago, Milwaukee & St. Paul road accomplished later. It being simply a private corporation, no recorded statistics are obtainable. The name under which it was known was "The Bank of Owatonna," its office being located in a portion of the building occupied by M. A. Dailey. But the railroad meeting with disaster, its bonds became valueless, and the bank of neces- sity closed its doors. "Its actual assets and liabilities," says Dr. L. L. Bennett, "I have been unable to even approximate, but from the best information obtainable, the latter were much larger than the former, and its life of only about a year was closed under somewhat of a financial shadow."
Its large iron safe was sold to W. R. Kinyon, and for a num- ber of years was the only place of safety for depositing money or valuables, Mr. Kinyon very kindly allowing such use of it to accommodate his friends.
S. J. Mills & Co. The city was without a real bank from 1858 to 1865, when a bank was established by the Follets and S. Mills, Jr., under the name of S. Mills, Jr., & Co.
This was also a private corporation. Their location was on the south side of Bridge street. But within a year or two their location was changed to the south end of the building then known as the Soule building. This bank was apparently doing
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HISTORY OF RICE AND STEELE COUNTIES
a good business, but in 1872, for reasons not very apparent, it closed its doors and went into the hands of a receiver, by whom its business was permanently closed. In this failure the citizens lost quite heavily.
Second Bank of Owatonna. In the year 1866, or one year after the establishment of the bank of S. Mills, Jr., & Co., a bank was established by J. C. Easton and W. R. Kinyon, and was the first of Owatonna's banking enterprises that was founded upon financial principles, and by men of such stamina. character and integrity as to withstand the storms of adversity incident to those early times. During the summer of 1866, this partnership completed a brick building on the site of the present First Na- tional Bank building. This bank, under the management of W. R. Kinyon, did a conservative and successful business until 1871, when it was absorbed by the First National Bank of Owatonna.
The First National Bank of Owatonna was organized in 1871 by this partnership of J. C. Easton and W. R. Kinyon, with a capital stock of $50,000. The stockholders at that time were: W. R. Kinyon, J. C. Easton, J. W. Morford, E. Y. Hunniwell, Otis Lord and Lewis Lord. In 1874 the capital stock was in- creased to $75,000, and in 1876 reduced to $60,000, at which amount it has remained to the present time. In 1882 the building now occupied by John Deviny was refitted and the bank did its business there until 1892, when it moved back into a new building on the original site, where it still continues to operate.
As early stockholders, directors and officers, the following men have been prominent factors in the conservative and con- tinued growth of the bank: W. R. Kinyon, Lewis L. Whee- lock, H. M. Hastings, J. M. Diment, C. S. Crandall, G. F. Al- bertus, William H. Kelly, W. A. Sperry, George R. Kinyon and C. J. Kinyon. From 1871 to 1903 W. R. Kinyon held the posi- tion of president of the bank, and during his thirty-two years of control built up the institution along lines that caused it to com- mand not only the confidence of its depositors and friends, but also the highest approbation of its stockholders.
In many respects the forty years of the bank's history pre- sent a remarkable development. It has always chosen to repre- sent the conservative element in the city's banking progress. It has been a matter of policy always to carry the very highest grade of assets even at the risk of a lower rate of earnings. At all times of financial disturbance this course has been a cause for much satisfaction to depositors and officers alike ; and, having successfully encountered the stringencies of 1873, 1893 and 1907, the upholders of the bank's policy feel that they were amply justified in choosing "reliability" for their motto. On the other hand, from the stockholders' point of view, the institution has
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been equally successful. Looking back over nearly forty years of dividends, it is certainly a matter of pride for the officers to show an average annual net profit of over 16 per cent on the capital stock.
George R. Kinyon, president since 1903, entered the service of the bank in 1880. He was made cashier in 1883, and in that capacity gave the business the benefit of his closest attention and ability for twenty years. It is due largely to his efforts and sound business judgment that the bank has enjoyed such a long period of success and given the best of service to its patrons.
C. J. Kinyon is another who has given the better part of his lifetime and thought to the upbuilding and success of the busi- ness. He was made cashier in 1875 and served in that capacity until 1883, when he was elected vice-president to make room for George R. Kinyon, as above mentioned. As vice-president he served continuously for the next twenty-three years. In 1906 he was reelected cashier, which office he holds at the present time.
The present splendid status of the bank in the city of Owa- tonna, as well as its excellent reputation throughout the North- west, stands today as a monument to the integrity and ability of these officers and directors who have given so many years of close application to its needs.
At present writing the officers of the First National Bank are as follows: George R. Kinyon, president ; J. M. Diment, vice- president ; S. W. Kinyon, vice-president ; C. J. Kinyon, cashier, and F. C. Kinyon, assistant cashier.
The institution has been under practically the same manage- ment since its beginning in 1866, and its future growth bids fair to continue along the lines of the past with reliable conservatism its keynote and the confidence of the people its most esteemed asset.
Following is the report of the condition of the bank, rendered at the close of business, March 29, 1910:
Resources-Loans and discounts, $393,366.90; overdrafts, se- cured and unsecured, $693.88; United States bonds to secure cir- culation, $60,000; other bonds to secure United States deposits, $1,000; premiums on United States bonds, $4,600; bonds, securi- ties, etc., $142,387.50; banking-house furniture and fixtures, $16,300; due from national banks (not reserve agents). $1,146.37 ; due from approved reserve agents, $122,320.14; checks and other cash items, $1,718.15: notes of other national banks, $3,810; fractional paper currency, nickels and cents, $300.74. Lawful money reserve in bank, viz: Specie, $26,914; legal-tender notes, $22,780; redemption fund with United States treasurer. 5 per cent of circulation, $3,000, $181,989.40. Total $800,337.68.
Liabilities-Capital stock paid in, $60,000; surplus fund,
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HISTORY OF RICE AND STEELE COUNTIES
$25,000 ; undivided profits, less expenses and taxes paid, $3,593.13; national bank notes outstanding, $58,800; due to other national banks, $2,024.09; due to state and private banks and bankers, $6,815.79; individual deposits subject to check, $318,136.97; de- mand certificates of deposit, $319,470.20; certified checks, $25; cashier's checks outstanding, $1,472.50; United States deposits, $1,000; reserved for interest on certificates of deposit, $4,000; total, $800,337.68.
The Farmers' National Bank of Owatonna was organized June 30, 1873, and opened its doors for business on the next day, July 1, 1873. The capital stock of this bank was placed at $50,000, fully paid up, and its management was governed and directed by its first board of directors, consisting of the following named persons : L. L. Bennett, A. C. Dodge, W. H. Burdick, H. Backus, W. H. Wilsey, A. C. Hickman and W. H. Sherman, by whom were elected the officers of the bank, consisting of the following named persons : L. L. Bennett, president, A. C. Dodge, vice-president, and A. C. Gutterson, cashier. The banking room was situated on the same corner where it is now located in its beautiful new banking house erected two years ago, at which location the bank has transacted its business for over thirty-six years, under practically the same management, the president, Dr. L. L. Bennett, having continuously held that position for all these years. The officers of the bank have always given close attention to the laws governing national banks, and in every way have sought to comply with their requirements. It is to this fact, among the many other reasons, that the phenom- enal success of the institution is due.
No dividend was declared until June 20, 1876, when a divi- dend was paid to the amount of 25 per cent on the capital stock. On July 21, 1877, George L. Gutterson was elected assistant cashier, as the business of the bank had increased to the extent that it required more clerical force. On May 7, 1878, it was decided to increase the capital stock of the bank by an increase amounting to $10,000. In 1879 Arthur L. Gutterson was em- ployed by the bank and remained in its employ for quite a num- ber of years. On December 11, 1883, the capital stock was again increased to the amount of $15,000, making the paid-up stock $75,000.
In January, 1892, Carl K. Bennett was elected cashier, and held that position continuously until September 12, 1905, when he was elected to the office of vice-president, which last position he is filling at the present time. His efforts in modernizing the business since he became an officer in 1892 have been very suc- cessful, and he has been of great assistance in building up the
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