History of Saint Louis City and County, from the earliest periods to the present day: including biographical sketches of representative men, Part 88

Author: Scharf, J. Thomas (John Thomas), 1843-1898
Publication date: 1883
Publisher: Philadelphia : L.H. Everts
Number of Pages: 1358

USA > Missouri > St Louis County > St Louis City > History of Saint Louis City and County, from the earliest periods to the present day: including biographical sketches of representative men > Part 88

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The Merchants' National Bank was organized as a State bank in 1857, the notice of the opening of books for subscriptions, issued in March of that year, reading as follows :

" MERCHANTS' BANK .- Books for subscription to the capital stock of this bank will be opened on Wednesday, the 18th of March, 1857, at the office of the Millers' and Manufacturers' Insurance Company, on the corner of Main and Pine Streets, and will remain open from 9 o'clock A.M. until 4 o'clock P.M. of each day, until Tuesday, the 31st inst.

" Parties subscribing will be obliged to pay to the committee of corporators ten per cent. in gold and silver coin at the time of subscribing, and the residue at such times as may be required by the directors during the ensuing twelve months.

"Corporators .- James E. Yeatman, William G. Clark, Thorn- ton Grimsley, B. M. Runyan, R. M. Parks, William T. Christy, Robert Campbell, John A. Brownlee, John G. McCune, D. A. January, Joseph Charless, William M. Morrison, Henry T. Blow."

In April, 1857, the organization was effected by the election of the following directors: John A. Brown- lee, Joseph Charless, William M. Morrison, William L.

Ewing, Thomas T. Day, P. R. McCreery, D. A. Janu- ary, James E. Yeatman, E. C. Sloan, B. M. Runyan, L. Levering, R. Campbell, J. W. Luke. John A. Brownlee was chosen president, and R. F. Barry cash- ier. Five months later, on the 1st of September, the bank went into operation. On April 23, 1861, the directors passed a resolution tendering to the State authorities a loan, for the purpose of enabling the State to take measures for a more efficient organiza- tion of the militia and to provide arms for defense.

On July 31, 1863, Robert K. Woods was elected cashier to succeed R. F. Barry, resigned.

In 1865 the institution was reorganized under the national banking law as a national bank. W. L. Ewing was elected president, and James E. Yeatman cashier. The presidents since the reorganization have been as follows: W. L. Ewing, elected in 1865 and served until 1866, when he was succeeded by Robert Camp- bell, who served one year, when Mr. Ewing was again elected and served for a similar term, being succeeded by George L. Stansbury in 1869. Mr. Stansbury served until 1872, when he retired and C. B. Par- sons was chosen in his place. In 1874, James E. Yeatman was elected president, and still retains the position. The cashiers have been Jamcs E. Yeat- man, elected in 1865 and served until 1874; Robert Eagle, elected in 1874 and served until 1878 ; James C. Moore, the present incumbent, chosen in 1878. The bank is now located on the corner of Locust and Third Streets. The present capital stock is $700,000 ; surplus and dividend profits, $157,254.

The present officers arc James E. Yeatman, presi- dent ; L. Levering, vicc-president ; James C. Moore, cashier ; Directors, James E. Yeatman, A. F. Shap- leigh, E. C. Sterling, L. Levering, J. L. Sloss, Thomas Rankin, Jr., John O'Fallon, David Rankin, H. T. Simon, E. A. Hitchcock, John A. Walsh, and H. L. Newman.

The Bank of Commerce was organized March 28, 1857, by John F. Darby, Lawrason Riggs, Carlos S. Grecley, Felix Coste, Marshall Brotherton, Henry Hassinger, and William H. Maurice. It was incor- porated under an act of the General Assembly of Missouri as a State bank, Feb. 14, 1857, the incor- porators being Asa Wilgus, A. P. Ladew, George M. Moore, W. H. Morris, Clark J. Morton, William Hassinger, John F. Darby, and Josiah G. McClellan. The bank was opened for business July 6, 1857, having for its board of officers Marshall Brotherton, president ; R. M. Funkhouser, vice-president ; and A. P. Ladew, secretary and treasurer. The different presidents of the bank were clected in the following order : Marshall Brotherton, elected March 28, 1857 ;

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HISTORY OF SAINT LOUIS.

Felix Coste, elected Nov. 11, 1857 ; Henry J. Reed, elected Jan. 14, 1874 ; and C. B. Burnham, elected Jan. 13, 1875. Mr. Burnham still retains the posi- tion. The bank was originally located at No. 202 North Second Strect, and was removed in 1872 to the corner of Fourth and Olive Streets. The institution was organized originally as a building and savings as- sociation, under the title of the "St. Louis Building and Savings Association," with an authorized capital of $500,000, and a liberal charter, which also gave it banking privileges. On Jan. 1, 1869, the name was changed to that of the " Bank of Commerce." Thc original capital was paid in at the rate of $2.50 pcr month per share, and at the end of the first six months amounted to $15,105.50 in cash. On Jan. 1, 1864, the capital was $200,000, which was after- wards increased to $300,000 on July 1, 1864. In 1866 the stockholders voted to discontinue the pay- ment of dividends and allow the profits to remain in the reserve fund of the association for five years, and in 1871 again voted to continue the non-dividend policy indefinitely. On July 1, 1878, the payment of dividends was, at the request of the stockholders, resumed; the accumulated earnings to the credit of the reserve fund at that date amounted to $775,000, which with the capital of $300,000 gave the bank $1,075,000 of its own funds in the business.

On July 1, 1882, the reserve fund amounted to $900,000, and the bank sold the remaining two thou- sand shares of stock to its sharcholders at $400 per share, making its capital stock July 1, 1882, $500,000, and the reserve fund $1,500,000, being a total capital of $2,000,000.

Thic present officers are C. B. Burnham, president ; Nathan Cole, vice-president ; and J. C. Van Blarcom, cashier. The directors are James W. Bell, C. B. Burnham, G. W. Chadbourne, Nathan Cole, Samuel M. Dodd, George J. Plant, W. H. Pulsifer, W. H. Thompson, and John Whittaker.

The Mechanics' Bank of St. Louis was incor- porated under the general laws of Missouri in 1857, and in March of that year notice was given that on Thursday, March 19, 1857, books for the sub- scription to the capital stock would be opened at the room of the Mechanics' and Manufacturers' Exchange, on Chestnut Street, between Third and Fourth Streets, and would remain open from nine in the morning until three o'clock in the afternoon of each day until Monday, the 30th day of March.

The notice was signed by Charles H. Peck, B. W. Alexander, Bernard Bryan, John C. Evans, N. M. Ludlow, D. K. Ferguson, J. W. Thornburgh, S C. Hunt, L. D. Baker, R. M. Parks, Oliver A. Hart,

John Evill, William S. Cuddy, G. I. Barnett, John M. Wimer, incorporators.

The bank was opened for business in November, 1857, being then located on the corner of Third and Chestnut Streets. Joseph Charless was elected the first president in 1857, and his successors in order were J. W. Wills, Oliver Garrison, and D. K. Fergu- son. The first cashicr was J. W. Wills, his succes- sors being Charles Everts, George T. Hulse, and R. R. Hutchinson, the present incumbent.

The institution has always transacted business under a charter from the State of Missouri. This bank is now located on the corner of Second and Pine Streets.

The last annual statement of Dec. 15, 1882, makes the following exhibit :

Resources.

Loans and discounts.

$1,891,603.85

Real estate.

9,513.29

Sight exchange ...

360,074.74

Cash ....

621,560.17

$2,882,752.05

Liabilities.

Capital stock

$600,000.00

Undivided earnings

129,871.39

Unclaimed dividends

1,971.00

Deposits

[ Individual, $1,955,425.33 }

2,150,909.66

$2,882,752.05

The officers during 1882 were D. K. Ferguson, president ; J. W. Branch, vice-president; R. R. Hutchinson, cashier ; Directors, Oliver Garrison, R. M. Parks, John G. Wells, E. N. Leeds, D. R. Gar- rison, R. Sellew, D. K. Ferguson, Joseph W. Branch, John N. Booth, R. B. Whitmore, Benj. B. Graham, and W. L. Wickham.

Joseph Charless was born in Lexington, Ky., Jan. 17, 1804. His father, Joseph Charless, was a native of Westmeath, Ireland, where he was born July 16, 1772. The family was originally of Wales, from which principality John Charles emigrated to Ireland in 1663. Joseph Charles the elder was im- plicated, with Emmet, Lord Edward Fitzgerald, and other noble spirits, in the Irish rebellion of 1795, upon the failure of which he fled to France, whence he soon emigrated to the United States, landing in New York in 1796. To maintain the familiar Euro- pean dissyllabic pronunciation of his name he added a final s to its spelling, and thus Charles became Charless.

Joseph Charless the elder was a printer by trade, made his home in Philadelphia, and found employ- ment with Matthew Carey, the publisher, himself an Irish patriot and refugee, a man of warm heart and generous impulses, a creator of public opinion, a friend

Banks, 195,484.33 }

steel by John 'artuen.

hela

LIBRARY OF THE UNIVERSITY OF CHINOIS.

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BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.

of Franklin, Lafayette, Washington, and Henry Clay, and a hater of everything English, from William Cobbett to Manchester cottons. Carey was a great favorer of " the American system" of protection to American industries (hc was the father of Henry C. Carey), and it was probably through his acquaintance with Clay that the senior Charless was induced to re- move to Kentucky. In 1798 he had married Mrs. Sarah McCloud, a widow with one child,-her maiden name being Jordan, born Jan. 28, 1771, at Wilming- ton, Del. He moved to Lexington in 1800, and to Louisville in 1806, coming finally to St. Louis in 1808, where he founded the Missouri Gazette, the first newspaper published in St. Louis and west of the Mississippi, a journal which still flourishes in vigorous usefulness and widespread influence as the Republican of St. Louis.

Joseph Charless the elder was a man full of all good qualities, honored and respected by all who knew him ; simple in manner and habit, an impulsive, warm-hearted, generous Irish gentleman, hospitable to a degree, and brimful of cheery humor. He lived to be sixty-two years old, while his widow died at the age of eighty-one, outliving all her children but one, Joseph, the subject of this sketch, and all her grand- children except two.

Joseph Charless the second, the fourth child of his parents, was very early put to " the case" and taught the rudiments of the printer's trade in his father's office. Then, an academy having been started in St. Louis, he was sent there to complete his education ; began the study of law under Francis Spalding, a leading member of the bar of St. Louis, and finished his studies in the law school of Transylvania Uni- versity, Lexington, Ky.

A profession, however, was not to his taste, and his father having sold out his interest in the Missouri Gazette and gone into the wholesale drug business, Joseph became his partner in 1828, and from that time was a prominent man among the merchants of St. Louis. Joseph Charless, Sr., died in 1834, his son persuading him on his death-bed to alter his will and make an equal partition of the estate, which he intended bequeathing all to his favorite son, Joseph. This act was characteristic of the whole life of Mr. Charless, in whom the spirit of justice was instinctive. The tender and beautiful little " Memorial" of his domestic life, prepared for her grandchildren by his widow, unconsciously reflects this trait in his character on every page. This venerable lady, still surviving, is Charlotte, daughter of Capt. Peter Blow, a veteran of the war of 1812. Her mother was formerly a Miss Taylor, and both her parents were Virginians of the

old stock. They had emigrated from Virginia, and, after farming in Alabama and elsewhere, came to St. Louis in May, 1830. Miss Blow became the wife of Joseph Charless, Nov. 8, 1831.

Joseph Charless was closely attentive to business all his life, not content mercly to maintain his house at a paying level, but striving always to extend its con- nections and clientèle, and increase the number and scope of its operations, going from jobbing to import- ing, and from importing to manufacturing. But he was a public man at the same time in the truest sense, not as a politician and office-holder, but as a represen- tative and promoter of public business interests. He had little to do with politics, though always an earnest Old-Line Whig ; but he took a leading part in muni- cipal councils, just as he made himself prominent in church and Sunday-school,-he was a Presbyterian and an elder,-as a matter of public duty; he took his place in the board of aldermen, among the directors of the public schools, and was a railroad director and bank president. The State appointed him president of the Bank of the State of Missouri, and he was president of the Mechanics' Bank, and director of the Pacific Railroad at the time of his sudden death, besides being one of the most active men in the city in encouraging the founding of the City Uni- versity. Mr. Charless was loved and cherished by a very large circle of business friends, acquired in the domestic sphere in which he shone, in the church, the school board, the bank, and the business connections of the extensive house of Charless, Blow & Co., of which he was the head. His personal integrity and worth, his high business standing, his skill and probity in all sorts of affairs earned him the respect and con- fidence of the entire community ; they looked to him as a leader, and he never hesitated to take the lead in every creditable and honorable enterprise for advanc- ing the interests of St. Louis. He contributed his money freely to all these, and he was quick to see the advantages of every solid scheme of public improve- ment. He gave liberally and wisely in benevolence ; in charity, in ministering to the sick, the suffering, and the needy his purse was always open, and his personal services always employed.

Mr. Charless was a man of deep, unaffected piety in all the walks of life, a consistent and active Chris- tian at church, at home, in society, and business alike. His conformity was steadfast and consistent, without making him strait-laccd or austere. His manners were gentle, polite, and all that the winning benevolence and generous nobility of his face and bearing promised; he was kindliness and courtesy personified, and he had no enemies. He never made

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HISTORY OF SAINT LOUIS.

any enemies cxcept one, the man whose dastard ma- lignity turned him into an assassin. This man, Jo- seph W. Thornton, was hanged Nov. 11, 1859, and Joseph Charless forgave his deed, though his fellow- citizens and the law could not do so. Thornton had been defendant in a criminal action, in which it be- came Mr. Charless' duty to bear witness against him. Chiarless told only what he knew, what the law compelled him to reveal, and it must have been an ungrateful task to a man of his gentle disposition ; but Thornton never forgave him, always declaring that Charless' testimony had ruined his prospects and deprived him of his livelihood, which indeed was the consequence of his own act, not what Charless bore witness to. He brooded over it, and at last waylaid him on June 3, 1859, and fired two shots at him. This was on Market Street, between Third and Fourth Streets. The first shot prostrated the victim, and as he fell the assassin fired another shot at him, all with- out a word of warning. Such a feeling of intense indignation was aroused at this wretched decd that the military had to be called out to preserve order and save Thornton from lynching. Mr. Charless died, after twenty-four hours' great suffering, with the peace and composure of the Christian always ready for any summons, no matter how sudden.

The painful tragedy of Mr. Charless' death and the great love and esteem in which he was held by all his fellow-citizens led to a more than usually solemn and imposing funeral. An immense concourse of people was present in and around the Second Presbyterian Church, in which he had worshiped, and all there were mourners and filled with feelings of profound sympathy for his bereaved family. The pall-bearers, headed by John O'Fallon, consisted of James H. Lucas, Edward Bates, H. R. Gamble, Robert Camp- bell, Jolın Simonds, Wm. W. Greene, Thornton Grimsley, Geo. K. McGunnegle, Edward Walsh, N. Paschall, Charles Keemle, B. F. Edwards, Wm. Nis- bet, I. W. Willis, and Chas. S. Rannels. The banks, churches, railroad companies, and all the other finan- cial, benevolent, and religious associations with which Mr. Charless had so long and intimately been con- nected passed resolutions of condolence and sympathy, and the whole community, roused to its depths by such a sad and untimely taking off, did not stint to express its consciousness of the great loss it had sustained in the death of so honored, trusted, and useful a citi- zen.

The St. Louis National Bank was established in the spring of 1857, under the name of the Bank of St. Louis. The original notice of the opening of the subscription books read as follows:

" Notice is hereby given that on Wednesday, the 18th day of March, 1857, we will open books for the subscription to the capi- tal stock of the Bank of St. Louis, at the office of John J. An- derson & Co., corner of Main and Olive Streets, in the city of St. Louis, and they will remain open from nine in the morning until three o'clock in the afternoon of each day until Saturday, the 26th day of March.

" All persons subscribing will be required to pay ten per cent. in gold and silver, and the balance at such time and in such amounts as may be required by the directors ; it being provided, however, according to the charter, that the whole amount shall be paid within one year from the date of subscription.

" Corporators .- John J. Anderson, John G. Priest, George Knapp, A. P. Ladew, D. S. Senter, Madison Miller, Joseph Widen, Stephen Haskel, James Harrison, Taylor Blow.

"ST. LOUIS, Mareh 3, 1857."

The original directors were John Simonds, A. G. Switzer, Frederick Meyer, George B. Sanderson, George S. McClure, Henry T. Mudd, George R. Robinson, Morris Collins, William Lucas, L. M. Kennett, J. B. S. Lemoine, S. B. Wiggins, T. A. Buckland. John J. Anderson was elected president, and John Brown cashier. The bank began operations Dec. 15, 1857.

Towards the close of 1860, R. P. Hanenkamp, afterwards city comptroller of St. Louis, was elected president, and held the position for three years, at the end of which William E. Burr was chosen his successor. Mr. Burr has continued in tlie manage- ment of the bank ever since.

In 1865 the institution was changed to a national bank, and became known as the St. Louis National Bank. Its incorporators as a national bank were William E. Burr, James H. Wear, R. P. Hanen- kamp, Jolın F. Tolle, Benjamin Stickney, Thomas Ferguson, Joseph Garneau, and N. Schaeffer. The officers at this time were William E. Burr, president ; James H. Wear, Benjamin Stickney, Thomas Fergu- son, R. P. Hanenkamp, Joseph Garneau, William Ballentine, N. Schaeffer, John F. Tolle, directors ; and Louis C. Billon, cashier.

The bank, as originally operated, was located on Chestnut Street, between Main and Second Streets, and was well patronized from the beginning. When changed to the St. Louis National Bank in 1865 it was removed to the building on Olive Street, opposite the post-office. Having sold that building, it moved in 1875 to its present commodious quarters in the Chamber of Commerce building. The government funds collected in the city and in a large extent of surrounding country are all deposited in this bank, together with all the collections of the internal rev- enue office, as well as those of the post-office and the bankrupt courts.

The annual statement of the bank, Dec. 31, 1881, sliowed its resources to be $3,143,876.82; capital

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BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.

stock paid in, $500,000 ; surplus fund, $56,335.44 ; undivided profits, $36,902.80; deposits, $581,305.39; United States deposits, $110,913.63.

The officers for 1882 were William E. Burr, presi- dent ; J. G. Chapman, Nathan Cole, S. H. Laflin, H. McKittrick, F. Mitchell, James M. Nelson, S. A. Bemis, James H. Wear, directors ; and John Nicker- son, cashier.

The First National Bank of St. Louis was or- ganized in October, 1863, and began operations on the 10th of that month in its new building at the junction of Fifth Street and Carondelet Avenue, with the following officers : President, F. W. Cronen- bold; Vice-President, Christian Staehlin ; Cashier, Peter Weiss ; Directors, F. W. Cronenbold, Christian Staehlin, James Harrison, Bernhard Heidacker, Henry Kalbfleisch, William Lemp, Francis A. Lorenz, George Gehrke, and Henry Steinmeyer. The amount of stock subscribed at this time was over one hundred thousand dollars. In 1871 some of the officers became involved and the bank changed its name to the Empire Bank. Mr. Kalbfleisch was elected president. It continued under the same directors until 1876, when the busi- ness was turned over to the Lafayette Bank. A handsome building was erected at the junction of Fifth and Merchant Streets for the First National Bank.

The Lafayette Bank was organized in 1876, with a paid in capital of one hundred thousand dollars. The incorporators were F. Arendes, H. Ziegenhein, Charles B. Stuever, William Hahn, and Philip W. Schneider. F. Arendes was the first president, H. Ziegenhein vice-president, and F. Lesser cashicr. The first directors were the incorporators. The origi- nal location was the corner of Carroll Street and Ca- rondelet Avenue. From here it was removed to its present location, at the junction of Fifth and Mer- chant Streets. The present officers are F. Arendes, president ; H. Zeigenhein, vice-president; and P. J. Doerr, cashier; Directors, F. Arendes, H. Ziegen- hein, Charles B. Stuever, W. Hahn, and Philip W. Schneider.

The Second National Bank was organized in De- cember, 1863, with a capital of $200,000, with the privilege of increasing it to $1,000,000. The first board of directors was composed of T. B. Edgar, George H. Rea, S. Rich, George P. Plant, Morris Taussig, J. O. Pierce, E. O. Stanard, Charles Holmes, and Wm. Smith. T. B. Edgar was chosen president, and E. D. Jones, of the Exchange Bank, cashier. The bank began business in January, 1864. It immediately be- came conspicuous in its services in placing the popu- lar loans of 7-30's, 5-20's, and 10-40's, and handled

a larger amount of these securities than any other bank in St. Louis. The bank declared its first div- idend May, 1864, and in July, 1868, gave to its stockholders a fifty per cent. dividend in stock, mak- ing the capital $300,000.

During a period of ten years its dividends amounted in the aggregate to $370,175, ranging from five to six per cent. semi-annually, up to July, 1873, at which time it suspended the payment of dividends, preferring to let the accumulations remain for the benefit of increasing business.

The Third National Bank of St. Louis was orig- inally chartered by the General Assembly of Mis- souri for 1856-57 as the Southern Bank of St. Louis, with a capital of $1,000,000. The incor- porators were James S. Watson, James H. Britton, Abner Hood, Wm. J. McElhinney, and Wm. T. Wood. On the 6th of April, 1857, the following per- sons were elected directors :

Robert M. Funkhouser, John J. Roe, Samuel K. Wilson, Abner Hood, E. B. Kimball, Charles Miller, Wm. H. Barksdale, John J. Mudd, E. F. Pittman, John R. Lionberger, Wm. J. McElhinney, James S. Watson, James H. Britton. This board subsequently elected as officers James S. Watson, president ; James H. Britton, cashier ; George O. Atherton, teller ; B. W. Dudley, general book-keeper ; Thomas A. Stod- dart, individual book-keeper.

The bank began operations June 16, 1857, on Pine Street, near Main, with $110,600 of paid in stock. In February, 1859, President Watson died, and on March 14th following, E. B. Kimball was elected his successor.

James S. Watson was born at Jackson, Tenn., Sept. 17, 1815. Of his early career little is recorded. He is understood to have lived some years in Kentucky ; and about 1839 removed to St. Louis, where he was employed for some time as clerk. He then went to St. Charles, Mo., where he was similarly occupied, and where, March 25, 1841, he was married to Miss Alby A. Easton. In November, 1842, he was elected chief clerk of the lower house of the Legislature. Under the firm-name of Watson & Yosti, he for some time transacted business at Boonville, Mo., where he made an excellent record as an honorable and success- ful business man. In December, 1849, he entered into partnership in the wholesale boot and shoe busi- ness with Thomas E. Tutt at St. Louis. This part- nership continucd five years, the firm transacting a large and profitable business.

Mr. Watson was one of the passengers on the train that met with the fearful casualty at the Gasconade bridge, whereby many persons lost their lives, and· he

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HISTORY OF SAINT LOUIS.

was so badly injured that his life was despaired of. Having a fine constitution he rallied sufficiently to be able to engage in business again, but, while traveling eastward and when near Philadelphia, he was again almost killed by a collision. For the second time he apparently recovered, and resumed business with his usual energy and perseverance, but he never fully re- gained his strength, and his death, which occurred at New Orleans, Feb. 25, 1859, was doubtless hastcned by the injuries which he sustained in these two accidents.

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History of Saint Louis City and County, from the earliest periods to the present day: including biographical sketches of representative men, Part 88

Author: Scharf, J. Thomas (John Thomas), 1843-1898 Publication date: 1883 Publisher: Philadelphia : L.H. Everts Number of Pages: 1358

Author: Scharf, J. Thomas (John Thomas), 1843-1898
Publication date: 1883
Publisher: Philadelphia : L.H. Everts
Number of Pages: 1358