USA > Minnesota > Stearns County > History of Stearns County, Minnesota, Volume I > Part 47
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The Farmers' State Bank was incorporated January 1, 1911, by C. D. Schwab, P. R. Thielman and L. M. Schwab, with a capital of $50,000. The officers elected by the board of directors were: C. D. Schwab, president, Justus deBooy, vice-president, A. W. Corwin, cashier. They began business in their own thoroughly equipped and modern bank building at No. 18 Fifth avenue south and since their organization have enjoyed a constantly growing and profitable business. Resources of about $300,000 were shown by the last published statement.
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Mr. Schwab brought to the bank seventeen years of banking experience as president and large owner of the First State Bank of Clear Lake, Minn. He is a genial and aggressive official and has exercised a large influence in the commercial and civic interests of St. Cloud.
Justus deBooy is also vice-president of the Bank of Elk River, Minn., and is well and favorably known in banking circles throughout the state.
Mr. Corwin, before coming to St. Cloud, was associated with the State Bank of Aurora, Aurora, Minn., as its vice-president. He is an efficient ac- countant and a capable banker, and by his adaptability and courtesy exercises a large influence in furthering the business of the bank.
Incorporated at the same time, and with offices in the same rooms as the Farmers' State Bank, the Farmers' Loan and Investment Company is largely under the same direction and management. This company has a capital of $50,000 and was organized by C. D. Schwab, A. A. Wright and P. R. Thielman. Besides Mr. Schwab, who holds office of president in both institutions, Mr. Wright is secretary and Mr. Thielman treasurer.
Mr. Wright is actively engaged in the real estate and insurance business and figures acceptably in the active life of the city and county. He is of affable temperament and his friends are limited only by his acquaintance.
Mr. Thielman is active in his office as treasurer of the company and is dominant in all matters pertaining to the civic interests and up-building of the city and county. He has always lived in St. Cloud and is rated as a capable and progressive business man.
Carl D. Schwab. Minnesota is a young state. There are men still living, who were residents of the Northwest before Minnesota became a territory, and have therefore watched the whole span of her existence. But young as the state is, the generation has come in which her own native-born sons are taking a leading part in her affairs, political, financial, commercial and edu- cational. Some of these men of the newer order of things live in St. Cloud, and among them may be mentioned the subject of this brief biography.
Carl D. Schwab, president of the Farmers' State Bank of St. Cloud, was born in Clearwater, Minn., October 24, 1872, son of Philip and Hattie (Heber- ling) Schwab, the former a native of Germany and the latter of Schuylkill county, Pennsylvania. Philip came to America about 1853, lived a while in Pennsylvania, from there went to New Orleans, then came to Rockford, in this state, lived at Maple Lake for a while, and later engaged in the drug business at Clearwater, finally moving to Clear Lake, where he died in No- vember, 1889. The second of a family of five children, Carl D. Schwab was reared at Clearwater, matured early, and at the age of sixteen had charge of a general store at Clear Lake. He continued in this line for eight years, and then organized the First State Bank, of Clear Lake, assuming his present position as president. In February, 1911, Mr. Schwab organized the Farmers' State Bank, of St. Cloud, of which he is now the head. He is also president of the Farmers' Loan and Investment Company, of St. Cloud. He is a mem- ber of the Elks, and his institutions are connected with the State Bankers' Association. Mr. Schwab married Lavina White, a native of Clear Lake, Minn. They have four sons, John D., Philip E., Carl L. and Daniel R.
CARL D. SCHWAB
Cassius monfrague,
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The condition of the five banks of St. Cloud, as shown by their published statements of June 30, 1914, was as follows:
Capital stock $ 425,000.00
Surplus and undivided profits 220,839.11
Deposits 3,737,681.76
Loans and discounts 3,468,116.58
Cash on hand and due from banks 707,329.65
Total resources
4,473,720.89
SAUK CENTRE.
First National Bank of Sauk Centre. In 1883 J. M. Woodbury commenced the erection of a bank building, expecting to open a national bank in Sauk Centre. In the spring of 1884, he sold his bank building to the incorporators of the First National Bank, and on May 12, 1884, this bank opened its doors for business with a paid-up capital of $50,000. Following a policy of giving the community the best possible banking service, and putting strength and safety to depositors ahead of all other consideration, it has had a strong, healthy growth, has paid annually a 10 per cent dividend, added to its sur- plus, remodeled and improved its building from time to time, and now has a well-lighted, fully-equipped modern banking office, and has added to its banking capital an earned surplus of $25,000. The original incorporators were : L. R. Barto, C. H. Bennett, J. V. Brower (archaeologist, State Historical Society), S. M. Bruce, Tobias Carl, Chas. F. Hendryx, T. R. Duddleston, W. O. P. Hilsdale, J. C. Jacobi, Joseph Kraker (vice-president), Henry Keller (president), W. T. Lambert, J. A. Lawrence, Dr. J. M. McMasters, J. C. Parker, J. L. Robbins, William Scherffius, C. M. Sprague (cashier), A. G. Whitney, Fred Williams, and Gustav Willius (president National German- American Bank, St. Paul). The present officers, responsible for the manage- ment, are : C. M. Sprague, president ; W. O. P. Hilsdale, vice-president ; F. W. Sprague, cashier ; H. W. Rice, assistant cashier.
C. M. Sprague is one of the progressive citizens of Sauk Centre, a gentle- man of the highest character, and one who has identified himself with the best interests of the commonwealth. Since going to Sauk Centre in 1886 he has been active in the commercial and educational interests of the city. Be- sides being interested in many other banks throughout the county he has served on the state board of equalization and is highly regarded for his sound and progressive ideas. His genial personality has shown to great advantage in the upbuilding of this stable bank. The further excellence of this old insti- tution is attested by the personnel of all the organizers, men whose standing in commercial, professional and political affairs of the state and county are well and favorably known. This bank has always borne an enviable reputation and under the present management its continued success seems assured.
Cassius Marquis Sprague has been closely identified with the growth and progress of Sauk Centre, and is regarded as one of the makers of the city. Coming here shortly after the Civil War, he at once took up those duties
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which of necessity devolve upon an intelligent and public spirited citizen. Not only in Sauk Centre, however, is his name known. As the head of a chain of banks he is an important factor in the financial stability of many communi- ties. Serving on state political and fraternal boards, his fame has been widely extended. Whether as a boy in Illinois, a youth in Minnesota, a Ranger in the Indian campaign, a brave soldier in the South, a young clerk in Sank Centre, a prosperous banker, a fraternity leader, or a tax equalizer, he has done his duty as he has found it, and never has he failed in fulfilling what- ever duties might fall to his lot.
Cassius Marquis Sprague was born in Will county, Illinois, December 11, 1846, son of Henry and Louisa C. (Walker) Sprague, who, in 1854, brought him to Hastings, Minnesota. In 1862, he served in the defense of Ft. Ridgely, as a citizen-soldier. Then he enlisted in Co. G, First Minnesota Mounted Rangers, and served with General Henry H. Sibley against the Sioux Indians along the Missouri river. In February, 1865, he enlisted in Company F, Sec- ond Minnnesota Volunteer Infantry, was appointed a corporal and joined Sherman's army at Goldsborough, North Carolina. From then until the close of the war, he followed the fortunes of his regiment, until mustered out. After the war, he came to Sauk Centre, where he has since resided. In March, 1866, he became a clerk in the store of Linneman & Casper. Some nine years later, he and Joseph Casper, one of his former employers, engaged in the store busi- ness under the firm name of C. M. Sprague & Co. In 1877, Mr. Sprague sold out his interest to his partner. Then he engaged in the brokerage business. In 1880, he and J. B. Perkins opened a drug store. The First National Bank of Sauk Centre was organized in 1884, and Mr. Sprague became its cashier. With that institution he has since been connected. When he was promoted to the presideney, his son, Fayette W., took his place as cashier. Gradually his financial interests increased until he now holds stock in twelve banks, and is president of five. He has taken an active part in state polities, and for eight years was a member of the State Board of Equalization, serving five years of the eight as president. As a publie spirited citizen of Sauk Centre it is natural that he should have served in such positions as president of the village couneil and member of the school and library boards. For many years an ardent and enthusiastic Odd Fellow, he is now serving his twenty-first term as grand treasurer of the state lodge. He is also a director in the Odd Fellows' Home at Northfield, Minn. Mr. Sprague married Amelia Wright, of Conneautville, Penn. They have one son, Fayette W. Sprague, born May 20, 1873. Esther Sprague, a niece, is also a member of the family.
First State Bank of Sauk Centre. In 1880, Solomon Pendergast, Lucas Kells and E. P. Barnum organized the Bank of Sauk Centre. Mr. Pendergast was president, Mr. Kells cashier, and Mr. Barnum, assistant cashier. Nine years after Mr. Pendergast and Mr. Barnum sold their interests to Lucas Kells and Lyman Kells. These gentlemen conducted the business as a private bank until 1908, when they incorporated as a state bank under the name of First State Bank of Sauk Centre. The officers elected were: L. Kells, president ; L. M. Kells, vice-president; R. R. Kells, eashier; Laurel L. Kells, assistant cashier. Their management continued under the incorporation until 1912,
MR. AND MRS. SOLOMON PENDERGAST
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7
.
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MR. AND MRS. MICHAEL LAHR
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HISTORY OF STEARNS COUNTY
when the Kells interests were sold to J. A. Caughren, J. A. DuBois, Thomas Sullivan, J. F. Cooper, L. L. Kells, M. F. Woodbury and A. G. Whitney. This change of interest resulted in the clection of J. A. Caughren, president; M. F. Woodbury, vice-president; B. F. DuBois, vice-president; Laurel L. Kells, cashier. The above are the present officers with the exception of Mr. Caugh- ren, who resigned and was succeeded by J. A. DuBois, president. H. W. Booker is assistant cashier. The bank is under able management and will doubtless maintain the favorable record it has enjoyed for the past thirty- five years.
Solomon Pendergast, one of the worthy pioneers of Sauk Centre, was born in Barnstead, New Hampshire, November 15, 1833, son of John and Nancy Pendergast. He attended the public schools, and also had the advan- tages of courses in the Gilmanton Academy at Gilmanton, and the Gilford Academy, at Meredith Bridge. In 1856 he started west with a company of pioneers. With a dog for a friend, and a gun for protection, he walked nearly all the way to St. Paul, and from that city he made his way to Hutchison, Minn. Most of his time was spent in hunting and trapping. Later he went to Cincinnati, Ohio, where he worked at his trade as a shoemaker. Upon his return to Minnesota in 1860, he was married in St. Paul, and then set out on foot for Hutchinson. He hoped to reach that place in time for the Fourth of July celebration, but he was delayed, and was a day late in reaching his des- tination. In the spring of 1861 he came to Sauk Centre. For a time he and George H. Fish had a store about half a mile from the present village. That fall, they moved their store to the present village limits. During the Indian troubles the partnership was dissolved. When the uprising was at its height, the stoekade was built about Mr. Pendergast's store. His store became a store, garrison, inn, and nursery. In it were sheltered the residents, the soldiers, the stage drivers and the travelers. In it three children were born. In 1865 Mr. Pendergast sold his store, and went into the hardware business with Edward Oakford. The store was burned in the fire of March, 1870, but was at once rebuilt. In 1880 he founded the Bank of Sauk Centre, and became its presi- dent, a position he held for about ten years. In 1889 he retired from active life. He died June 18, 1910. In addition to his interests in Sauk Centre, he owned various stores in the Northwest, sometimes alone, and sometimes with partners. He was also an extensive owner of farm lands. He took an active interest in publie movements and was a desirable citizen in every respect. Mr. Pendergast was married in 1860, to Luey Cornelia Chapman, who was born in Illinois, the daughter of Hiram and Caroline (Dewey) Chapman, the former of whom was a carpenter and builder. Mr. and Mrs. Pendergast had four children : Nellie, born December 14, 1861; Carrie, May 26, 1863; Maude D., December 20, 1864; and Mabel, October 24, 1869. Nellie was the first child born in Sauk Centre, she and Carrie and Maude D. having been born in the old stockade.
The Merchants' National Bank was incorporated in 1902 with a capital of $25,000. The present officers are : J. A. Caughren, president ; D. B. Caugh- ren, vice-president, and A. F. Strebel, cashier. The bank has quarters in its thoroughly modern and handsome building and merits and enjoys an inereas-
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HISTORY OF STEARNS COUNTY
ing business. The officers are well and favorably known and give to the bank the benefit of their large experience in financial matters.
J. A. Caughren. In the history of the civilization of the world, the United States has stood for the highest ideals of opportunity for all, and America is proud of her sons, who have started as poor boys, and by dint of energy honesty and ability, have not only achieved success themselves but have also labored that their communities might share in their progress and advantages. Among such men may be mentioned J. A. Caughren, man of affairs, banker, merchant, contractor, lumberman, capitalist and stock raiser. Diversified as have been his activities he has made a success of all. While he has traveled in various parts of the country, he has made Sauk Centre his permanent home, has assisted in its upbuilding in various ways, and is never too busy to give his time and attention freely to anything that is for the advancement of bet- terment of the city, the county or the state.
J. A. Caughren was born in Fredingon, on the St. John's river, Province of New Brunswick, Canada, December 31, 1847, son of David and Matilda (Ervin) Caughren. He attended the common schools of his native village, and in 1859 was brought to Brockway township, this county, by his parents. In that township he also attended the public schools. In 1864 he came with his parents to Getty township. For some years he remained on the home farm, assisting his father, storing his body with strength, learning agricul- tural pursuits, and acquiring that sturdiness of character which has so pre- dominated his life and motives. In 1877, after his marriage, he went to the Black Hills, and associated himself with the Northwestern Stage & Transpor- tation Co., in operating a mule freight train between the Black Hills and Bis- marek. In 1881 he engaged in railroad contracting and that has since been his principal business. His work in this line has been extensive. His banking activities have also been important. He is vice-president of the First National bank, at Osakis, Minn .; president of the Merchants' National bank, of Sauk Centre; vice president of the First National bank, of Sauk Centre; stock- holder in the First State bank, of Sauk Centre; and a stockholder in thirteen banks in the state of Washington. In addition to his interests in the bank at Osakis, he also owns a large and successful general department store there. His lumbering activities which have been extensive are now centered in the Adams River Lumber Co., of Shuswop, British Columbia. With all of this he has not forgotten his boyhood on the farm, and his greatest delight is in his well-tilled aeres and his fine stoek, of which he makes a specialty. He owns in addition to the old homestead of 600 aeres, in Getty township, 420 acres in Todd county and 400 acres in Morrison county. Some of his farms are under his direct supervision and are operated by foremen, while others are rented. He has just erected at Sauk Centre, the "Caughren Theater," beautiful in architecture and design, and one of the most modern small theaters in the Northwest. He owns the building which houses the Merchants' National bank, and also numerous other business blocks. His beautiful home is the pride of the community. It was erected in 1892, and by numerous im- provements has been kept modern in every respect. Surrounded as it is with lawns, flowers, drives, walks, shrubbery and trees, laid out in accord with
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J. a Laughum
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HISTORY OF STEARNS COUNTY
the splendid taste of the owner, the place has the appearance of a vast landed estate, and is the admiration of all who have the opportunity of gazing upon its beauties. Mr. Caughren has done efficient service as a member of the city council and also as a member of the board of education of which he is now the treasurer. His wide experience and practical common sense have been valuable factors in determing the actions of these two boards. Fra- ternally he is a member of the Star in the West Lodge, No. 64, A. F. & A. M., and of the Chapter, as well as of Sauk Centre Lodge, No. 34, I. O. O. F., and Sauk Centre Encampment, No. 59, I. O. O. F. Though very successful in his enterprises, he is unassuming and democratic and easily approachable by any one who may need his assistance or advice, and he is considered one of the most useful and best beloved of Stearns county's citizens.
Mr. Caughren was married March 15, 1877, to Hattie Pangburn, daugh- ter of David Pangburn, who is appropriately mentioned elsewhere in this work. They have had six children: Harry J., who has charge of his father's store at Osakis, Minn .; Harriet B., now Mrs. E. Allison, of Council Bluffs, Iowa ; David, vice-president of the Merchants' National bank, of Sauk Centre ; Pearle, now Mrs. Burt Schnure, of Chicago; and two who died in infancy.
MELROSE.
The Bank of Melrose was organized by Henry Borgerding and H. J. Has- kamp in 1885. These gentlemen wielded an influence in Stearns county mat- ters of finance that was known in almost every township. They were ener- getic, progressive and aggressive bankers and in the course of their many years association amassed large fortunes. They not only availed themselves of opportunities but created them, and any legitimate enterprise that enlisted their interest and co-operation was assured of success. The business of this bank continued until 1907, when the Borgerding State bank was incorporated with a capital of $50,000. Henry Borgerding was made president and held this office until the time of his death in May, 1909. Following the death of Mr. Borgerding officers were named and were re-elected annually since then, as follows: C. C. Schoener, president ; C. Borgerding, vice-president ; H. C. Tembrock, cashier; J. L. Meyer, assistant cashier. The bank is under the management of men thoroughly familiar with all its branches and by reason of their experience and honorable standing are not only enlarging its influence but maintaining the splendid record it has enjoyed through the successive years.
The Security State Bank of Melrose was organized by H. J. Haskamp, in December, 1899, under the name of the Bank of North America. A short time afterwards Mr. Haskamp sold his interest to Joseph Kraker and in 1903 the Kraker stock was sold to W. J. Bohmer, of Melrose, and John Bohmer, of Brooten, who continued the business as a private bank until February 1, 1905, when it was incorporated as the First National Bank. The assets of the private bank were taken over by the new organization and the following directors chosen : W. J. Bohmer, John Bohmer, Joseph Kraker, John Kolb and J. H. Welle. The officers elected by these directors were : W. J. Bohmer, president ; Joseph Kraker, vice-president ; J. H. Welle, cashier. In October,
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1907, Mr. Kraker died and John Kolb was elected to fill the vacancy. In October, 1911, Mr. Bohmer sold his interest to John Borgerding, who was then elected president. Shortly after this the majority interest in the bank deemed it advisable to convert the bank into a state bank in order to make possible the handling of real estate mortgages and care for the business of a farming community in general. This change was effected February 1, 1912, and the bank thereafter was known as it is today, as The Security State Bank. The present officers are: J. Borgerding, president; M. Kleber, vice-presi- dent; N. Borgerding, cashier; H. C. Stalboerger, assistant cashier. The bank is capitalized at $25,000 and has just ten times that amount in deposits. The officers are all well known and capable business men and stand high in the esteem and confidence of the community.
Joseph Kraker, pioneer, merchant, banker and law-maker, residing for many years in Melrose, was born in Jerncisdorf, Austria, November 1, 1843. He came to the United States in 1862, and secured employment in a store in Hancock, Mich. Then he became a trader, selling goods to the Indians and early settlers in northern Michigan and northern Wisconsin. For a time he lived in Chicago, working there as a carpenter, and also attending business college. Afterward he and his brother, John Kraker, engaged in the mer- cantile business in Shannon, Ill. In 1870, Joseph Kraker sold out his inter- ests, and came to Minnesota. For two years he and Math Wardian kept a general store in St. Martin, this county. Then for twelve years he kept a general store in Albany, during which time he dealt extensively in grain and farm produce. It was at this period of his life that he became the owner of extensive farm land, which in the future assumed high values. On Sep- tember 17, 1874, at New Munich, this county, he was married to Maria Mag- dalena Bohmer, who was born November 1, 1843. In 1885 he sold out his in- terests in Albany, and came to Melrose, where he made his home continuously until the time of his death. Upon his arrival here, he started the Bank of Melrose, in company with Henry Keller, with C. D. Lord as cashier. In 1886, Mr. Keller disposed of his interests, and Joseph Kraker, Henry Borger- ding and H. J. Haskamp became the owners of the institution. In 1890, Mr. Kraker sold his interests in the Bank of Melrose to the other members of the firm, and occupied himself with dealing in grain and lumber. In 1899 he bought the Bank of North America, which in 1903 he sold out to W. J. Bohmer, retaining only a small interest. About that time he platted and pro- moted the townsite of Birch Lake, a village for which many have proposed the name of Krakerville. In 1905, when W. J. Bohmer converted his bank into the First National bank, Mr. Kraker became one of the directors, and continued as vice-president until the time of his death. For some years he was a director in the First National bank, of Sauk Centre. In his lands he took a particular interest. He had a beautiful home residence, extensive holdings in Melrose, farm property in various parts of the county, and a large prune ranch in California. Prune growing was his hobby, and he spent several months of each year on his beautiful ranch. But he did not forget his loyalty to Melrose, and he made this city the point from which he shipped prunes to several states. In 1896, Mr. Kraker was elected to the lower house
Jusifik- Master
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HISTORY OF STEARNS COUNTY
of the Minnesota legislature, in which he did good service for one term. He died October 6, 1907. His family at that time consisted of his widow, and the following sons and daughters: John, of Melrose; William, of Melrose ; Joseph, of Long Prairie; Anthony, of Melrose; Leo, Alphonse, Rose, Veronica, Christine, Mary and Bernard, all of Melrose. At the time of Mr. Kraker's death, it was said of him: "He was one of the best known men of the county, and numbered friends by his acquaintances. He was kind and generous, and ready to assist those less fortunate in worldly goods than himself. He was a devoted husband, a kind and indulgent father, a tender brother, and to his friends the soul of good fellowship. He believed in the Fatherhood of God, and the brotherhood of man. He was a devout Catholic, and a liberal sup- porter of the church. As a pioneer, a merchant, a banker, a farmer, a legis- lator, but above all as a friend, a brother, a father, he will be loved and hon- ored by all who knew him, so long as they live."
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