History of Saint Louis City and County, from the earliest periods to the present day: including biographical sketches of representative men, Part 89

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 89

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).

Mr. Watson's bus- iness career in Mis- souri appears to have been uniformly suc- cessful, and in St. Louis he was a leader in whatever he un- dertook. He was public-spirited, and took a deep interest in politics. Hissym- pathies were with the Democratic party, and he enjoyed the friendship and con- fidence of its leading men in Missouri and the West. He had great faith in the future of St. Louis, and erected the first dwelling south of Lafayette Park.

There are not many of Mr. Wat- son's contempora- ries living, but those who remain testify most chcerfully to his many noble traits. He was a true friend, an obliging neighbor, an accurate business man, a kind husband, and an affectionate father.

Mr. Watson was a brother-in-law of Hon. Thomas L. Anderson, Samuel L. South, Archibald Gamble, and Gen. L. C. Easton, gentlemen of character and prominence then and for many years subsequently. At his death he left a wife and two children.

On the 2d of January, 1864, the Southern Bank having been changed into a national bank, with a cash capital of one million dollars, was reorganized, and be- gan operations as the Third National Bank of St. Louis.

The directory under the reorganization consisted of E. B. Kimball, president ; James H. Britton, cashier ; and E. B. Kimball, Charles K. Dickson, John R. Lionberger, James B. Eads, William N. Switzer, Eugene Jaceard, Samucl R. Filley, John Jackson, and James H. Britton, directors.

On March 14, 1864, Mr. Kimball resigned the presideney, and James H. Britton was elected his sueeessor. On the same day Thomas A. Stoddart was elected cashier. Mr. Britton served as president until Nov. 1, 1866, when he resigned to accept the presidency of the National Bank of the State of Mis- souri. John R. Li- onberger, his suc- cessor, resigned Nov. 8, 1876, and was succeeded by Thom- as E. Tutt, the pres- ent chief executive of the bank.

JAMES S. WATSON.

The bank was rc- moved from its orig- inal location on Pine Street to Second Street near Pine, and on Nov. 25, 1874, occupied its new building, No. 417 Olive Street, where it still re- mains. This build- ing is six stories in height, with a stone front, and basement and first floors fire- proof.

During its exist- enee this bank has paid to shareholders in dividends $1,902,540, of which $1,512,400 was de- clared and paid in its character of the Third National Bank.

The present officers are Thomas E. Tutt, president ; John R. Lionberger, vice-president ; T. A. Stoddart, cashier ; Directors, John Jackson, Oliver B. Filley, John R. Lionberger, Thomas E. Tutt, Leonard Mat- thews, James W. Paramore, W. T. Wilkins, J. S. Walsh, J. M. Franciseus.

The Fourth National Bank of St. Louis was or- ganized Feb. 1, 1864. It was chartered Fcb. 26, 1864, under the general National Bank Act, and was

1395

BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.

first opened for business on March 22, 1864, with a capital stock paid in of $500,000. The incorporators were John C. H. D. Block, Joseph J. Mersman, C. L. Holthaus, John C. Nulsen, F. E. Schmieding, Francis Cornett, John H. Kaiser, Arnold Hussmann, C. L. Buschmann, and Christian Peper. The first board of officers was composed of Joseph J. Mersman, president ; John C. H. D. Block, vice-president ; and Frederick W. Biebinger, cashier, the last of whom still holds the position. In 1866, John C. H. D. Block succeeded to the presidency of the bank, and has retained it ever since. When the bank was first organized it was located on the northwest corner of Third and Washington Streets, where it remained until it was removed to the present location on the northeast corner of Fourth and Washington Streets. It has a capital paid in of $500,000 ; surplus fund, $200,- 000; contingent fund, $41,969.21; and undivided profits of $91,607.41. The assets, consisting of United States bonds, Missouri State bonds, real estate, and. other good securities, amount to $4,693,013.91.

The present board of officers is composed of John C. H. D. Block, president ; A. Hussmann, vice-presi- dent ; and F. W. Biebinger, cashier. The directors are John C. H. D. Block, F. E. Schmieding, Francis Cornett, John H. Kaiser, Arnold Hussmann, C. L. Buschmann, Christian Peper, Henry Grove, and Louis J. Holthaus.

The Fifth National Bank. was first organized in 1860 under the name of the Tenth Ward Savings Association. The incorporators and first directors were Henry Overstolz, Thomas L. Sturgeon, Philip Stremmel, Gustavus Hoffman, Thomas M. Speer, James Stoltebinn, John H. Marquard, Nicholas Hatch, and N. F. W. Brentzen. The bank was first located on Broadway and Exchange Street. In 1881 it was again incorporated under the name of the Tentlı Ward Savings-Bank, the directors being Louis Espenschied, James Green, John H. Marquard, Albert Schroder, Theodore Koch, Henry Overstolz, and C. C. Crecelius. Henry Overstolz was the first president, and Theodore Koch was the first cashier. In Janu- ary, 1883, it was organized under the National Bank- ing Act as the Fifth National Bank, and on January 10th opened for business on the northeast corner of Fifth Street and Christy Avenue. Henry Overstolz was chosen president, Louis Espenschied vice-presi- dent, and C. C. Crecelius cashier. The present di- rectors are Henry Overstolz, James Green, Louis Espenschied, Otto D. Amour, Conrad Stauff, Charles Wunderlich, and G. A. Rubelmann. The capital stock is two hundred thousand dollars.

The bank is one of the most flourishing of the

financial institutions of St. Louis, and much of its success is due to the energy, sound judgment, and busi- ness tact of its chief executive, Hon. Henry Over- stolz, who has long been prominent among the business men of St. Louis for the rare combination of enterprise, sagacity, and prudence which he brings to the administration of affairs whether public or pri- vate.

The Continental Bank of St. Louis was chartered as the National Loan Bank of St. Louis in February, 1865, and was organized and went into operation as such in March, 1866. The incorporators were Thomas O'Reilly, William McKee, Chauncey I. Fil- ley, and Stephen Ridgely. The institution was for several years conducted as the " National Loan Bank," but its name was changed to that of the Continental Bank, under which name it now transacts a general banking business. The capital stock is one hundred thousand dollars ; surplus, fifty thousand dollars. The first president was T. B. Edgar, who was suc- ceeded by George A. Baker, the present incumbent. W. H. Maurice was first chosen cashier in 1866, and was succeeded by E. Karst, who held the position for a term of years, and was followed by W. P. Keating, who still retains the position. The bank is located at No. 411 North Third Street. The officers for 1882 were George A. Baker, president ; J. M. Thompson, vice-president ; W. P. Keating, cashier ; Directors, H. A. Crawford, C. W. Rogers, E. C. Meacham, Oscar Bradford, J. A. Bartlett, I. G. Baker, C. S. Freeborn, J. W. Larimore, and G. W. Parker.

The International Bank of St. Louis is a State bank, and was chartered Feb. 28, 1865, the incorpor- ators being Isidor Bush, F. S. Behrens, William C. Lange, August Leisse, C. T. Uhlmann. It was first opened for business Nov. 12, 1866, with a capital of one hundred and fifty thousand dollars, at 226 Mar- ket Street, and was subsequently removed to its present location, southeast corner Fifth and Market Streets. The resources of the bank, according to a statement made Dec. 31, 1881, were $517,542.07; capital stock paid in, $100,000; surplus funds on hand, $1358.93 ; deposits, $395,212.44. The first presi- dent was William C. Lange, who has served ever since. The directory for 1882 consisted of William C. Lange, president; and Louis Gottschalk, Hugo Krebs, P. A. Schroth, G. J. Helmerichs, William C. Lange, John P. Heinrich, C. F. Hermann, August Leisse, A. W. Straub, directors ; John P. Heinrich, secretary.

The Commercial Bank of St. Louis was incor- porated under the general corporation laws of Missouri, March 19, 1866, and the bank was opened for busi-

1396

HISTORY OF SAINT LOUIS.

ness during the same month. The incorporators were Edward M. Samuel, William J. Lewis, John M. Platt, John F. Baker, Isaac S. Warren, J. A. J. Aderton, George W. Rucker, James Richardson, and Charles W. Keiser. The first officers were Edward M. Samuel, president ; John M. Platt, vice-president ; and J. W. Donaldson, assistant cashier. Mr. Samuel continued to act as president of the bank until his death, Sept. 22, 1869, when he was succeeded by William J. Lewis, who was followed by William Nichols, the present incumbent.

Edward Madison Samuel belonged to a family of Welsh and English descent, the Welsh branch of which settled in Virginia about the year 1700. From thence they emigrated westward, and Edward M. Samuel was born in Henry County, Ky., Oct. 12, 1807. In 1815 the family moved to Missouri, where the father became quite prominent, serving for many years as the county clerk of Randolph County. When about eighteen young Samuel was placed in business in Old Franklin, Clay Co., and in 1829 removed to Liberty, Clay Co., where he engaged in mercantile pursuits for nearly twenty-five years, and where he lived for nearly forty years. He soon became one of the leading business men of Northwest Missouri, and established a reputation for integrity and ability that was recognized throughout the State.

In 1829, Mr. Samuel was appointed receiver of public moneys at the land office at Plattsburgh, a po- sition which entailed peculiar responsibilities. The " Platte purchase" was included in the district, having then recently become subject to pre-emption and settlement. But before the survey had been made settlers had flocked in, improvements had been made, and the result was an immense number of conflicting claims, which it was the province of the register and receiver to adjust. As a member of this court, Mr. Samuel distinguished himself as a clear-headed business man as well as an able and impartial judge.

In June, 1853, he was appointed a justice of the Clay County court, and served as such for somewhat over a year. In this important position his financial and administrative talents were conspicuously demon- strated.

In 1857, upon the organization of the Liberty Branch of the Farmers' Bank of Missouri, he was elected its first president, and was continuously re- elected until his removal to St. Louis in 1865.

On settling in the metropolis he established the com- mission house of E. M. Samuel & Sons, his sons enter- ing the house with him. Soon after he interested him- self in the organization of the Commercial Bank of St.

Louis, and, as we have before stated, became its first president, retaining that position until his death. As a business man he enjoyed to an unusual degree the con- fidence and respect of his associates, and came to be re- garded as a public-spirited and useful citizen. Although of delicate health, he was a man of great mental activity and endurance, and filled a large space in the com- munity. During his long residence in Clay County he contributed largely to every public and religious movement. His gifts were marked by a large-minded catholicity. Thus, while for many years a devoted member of the Presbyterian Church, some of his largest contributions were in behalf of William Jewell College, a Baptist institution. His own lack of adequate school privileges when a boy made him re- gard education with peculiar favor, and he was a generous and steadfast friend of all worthy enter- prises in this direction. He was also an earnest and judicious adviser of young men, and there are many .yet living who remember with gratitude his encour- aging and kindly counsel. Extensive and varied reading enabled him to supply the education he was unable to obtain when a boy, and he was a well-in- formed man on matters of general information, while few were better instructed on economical and political questions. Practice made him a clear and logical speaker and writer, and he was a frequent contributor to the public journals, his communications often giving a decided impulse to popular thought.

In politics Mr. Samuel was an earnest Whig. He enjoyed the acquaintance of Henry Clay, and corre- sponded with both Clay and Webster for many years. He was also the personal friend of many of the great men of his period, especially those who represented Missouri in the national councils. He was twice nominated by his party for Congress, but, although his canvass was spirited and able, it was impossible to overcome the adverse majority.

In social life and in his family, Mr. Samuel's warm- hearted and genial nature shone with peculiar lustre. His domestic relations were particularly happy, and by the community at Liberty, where he so long lived, he was regarded with the highest respect and affec- tion as a citizen above reproach. He was twice mar- ried, and two daughters and three sons survive him. The latter succeeded to his large and profitable busi- ness, and constitute one of the best known of the commission houses of the present day.

The Commercial Bank has a capital of $200,000, and a surplus fund amounting to $293,592.92. The bank was located originally at the corner of Second and Olive Streets, but subsequently removed to 217 Olive Street. Its present quarters are situated in the

LIBRARY Of THE UNIVERSITY OF ILLINOIS.

1397

BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.

Chamber of Commerce building, and the officers in 1882 were W. Nichols, president ; Erastus Wells, vice-president ; E. C. Breck, cashier; and William Nichols, Erastus Wells, E. C. Breck, Isaac M. War- ren, B. W. Lewis, M. M. Buck, Miles Sells, William Spear, Thomas Howard, John M. Gilkerson, A. A. Talmage, W. M. Samuel, and John H. Maxon, di- rectors.

The Franklin Bank was chartered in 1867, under the laws of Missouri, as the Franklin Avenue Ger- man Savings Institution, with a paid up capital of sixty thousand dollars. The incorporators were John H. Conrades, James H. Forbes, F. H. Krenning, J. G. Kaiser, Henry Meier, Adolph Moll, H. Mohriman, H. S. Platt, F. W. Reipschlaeger, E. F. Rethwilm, Ad. Wippern, and J. B. Woestman. The bank began business in 1867, and until Jan. 1, 1882, was con- ducted as the Franklin Avenue German Savings In- stitution. Then the title was changed to that of the Franklin Bank, and the institution was removed to the present location, at the southeast corner of Fourth and Morgan Streets, the directors having purchased the bank building of the late North St. Louis Savings Association. The capital and surplus of the Frank- lin Bank at present is three hundred thousand dol- lars. The bank is under the same management as when originally organized, having for its chief execu- tive officer H. Meier, with Ad. Wippern as vice- president, and G. W. Garrels as cashier. The present board of directors is composed of James H. Forbes, F. H. Krenning, Henry Meier, Adolph Moll, H. S. Platt, F. W. Reipschlaeger, Ad. Wippern, and J. B. Wocstman.

The Laclede Bank was established in 1867 by Bartholow, Lewis & Co., and was operated as a private bank until 1872, when it was incorporated as the La- clede Bank by Thomas J. Bartholow, Benjamin W. Lewis, Jr., W. H. Chick, James A. Jackson, Theo- dore D. Meier, William J. Lewis, P. B. Leech, Carlos S. Grecley, Edward Fenton, Josephi P. Card, and George M. Edgerton. Thomas J. Bartholow was the first president, and Francis T. Iglehart cashier. The bank was originally located at Third and Locust Streets, but subsequently removed to 217 North Third Street, and on the 27th of February, 1883, to its present location at the corner of Third and Pine Streets. The original chartered capital of the bank was two hundred thousand dollars, but upon the reorganization of the institution, in November, 1882, it was increased to five hundred thousand dol- lars. The officers for 1883 are John D. Perry, presi- dent; James A. Gregory, vice-president ; H. B. Schuler, cashier ; and the following directors : John

D. Perry, James A. Gregory, H. B. Schuler, Theo- dore Meier, William McMillan, L. C. Nelson, D. C. Grier, James W. Lewis, Turner T. Lewis, Howard Blossom, Charles Filley, D. R. Francis, and W. S. IIume.

The State Savings Association is one of the prominent financial institutions of St. Louis, and may justly rank as one of the strongest and most prudently managed banks in the country. It was organized under an act of the Legislature of Missouri, on the 29th of December, 1855. While the charter was granted for a savings-bank, yet it has never been in any respect a savings association, but has always done a regular commercial business as a bank of discount and de- posit. The incorporators were John How, R. M. Henning, Eugene Miltenberger, Isaac Rosenfeld, Jr., Lewis V. Bogy, Ncree Vallé, William L. Ewing, R. J. Lockwood, and B. W. Hill. The bank went into active operation immediately after its organization, and was located at first at the corner of Vine and Main Streets, where it remained until 1876, when it was removed to its present quarters at the corner of Vine and Third Streets. The first president of the insti- tution Was R. M. Henning, and his successors were John How, John J. Roe, and Charles Parsons, the present incumbent. The first cashier was Isaac Rosenfeld, Jr., who was succeeded by Charles Parsons, who was followed by J. H. McCluney, the present cashier. The capital stock of the institution is six hundred and fifty thousand dollars, and a surplus has been accumulated, after making regular and liberal dividends since its organization, which now amounts to over seven hundred and fifty thousand dollars. The officers during 1882 were Charles Parsons, president ; William H. Scudder, vice-president ; and John H. McCluncy, cashier. Directors, Charles Parsons, John A. Scudder, Daniel Catlin, A. F. Shapleigh, C. C. Moffitt, Joseph Franklin, and John T. Davis.1

1 In 1859 there was inaugurated a war on the part of the State Bank of Missouri against the currency of neighboring States, which, being less easy to be presented for redemption, usurped the purposes of circulation and prevented the Bank of Missouri from getting its foriner advantage in this respect. A law was passed to prevent any chartered banking institution from carrying on the business of receiving and paying out for- eign currency. In consequence of this the State Savings In- stitution gave up its charter, and the stockholders associated themselves as joint partners, and so continued doing business until Jan. 26, 1864, when a new charter was obtained, with all the privileges denied by the former Legislature, under which charter the bank is now doing business.

During its early history, in October, 1859, an attempt was made to rob the institution. A local account of the affair says, " For three or four days past it has been known in certain quar- ters that an attempt has been made to enter the State Savings

1398

HISTORY OF SAINT LOUIS.

Charles Parsons, president of this bank, was born in Homer, Cortland Co., N. Y., on the 24th of Jan- uary, 1824, and is the son of Lewis B. Parsons, late of Buffalo, N. Y., and grandson of Capt. Charles Parsons, of the New York line in the Revolutionary war. He commenced business, after receiving a thor- ough academical education, as a clerk in his father's store, and soon after attaining his majority was em- ployed, first as clerk and after as partner, in a com- mission and transportation house in Buffalo from 1846 to 1850, when he entered the Bank of Attica, in Buffalo, and remained some months, solely for the purpose of learning the business of banking under its very able financier, Gains B. Rich. At the close of 1850 he removed to St. Louis with the view of selecting a point at which to commence the business of banking, and finally, at the instance of H. D. Bacon, of the then well-known firm of Page & Bacon, located at Keokuk, Iowa, where he was very successful in business, and remained until January, 1862, when he tendered his services to the govern- ment and was placed in charge of the army transpor- tation at St. Louis, receiving soon after the rank of captain and assistant quartermaster. The duties of his position were very extensive and onerous, em- bracing employment of hundreds of steamers on the rivers and railroad trains on land, to transport the troops, horses, cannon, provisions for men and ani- mals, and all the various articles required to pro- vision, feed, and render efficient great armies opera- ting over the extended theatre of war in the West and South. Besides these duties he was required to audit and settle the accounts of all other army quar- termasters pertaining to transportation from Wiscon- sin in the North to the line of actual war in the South. These various and arduous duties he fulfilled and discharged to the great satisfaction of Gen. Robert Allen, the chief of the Quartermaster's Department in the West, as is shown by his report to the War Department, in which he speaks in the highest terms of Capt. Parsons, and also to the satisfaction of Gen. M. C. Meigs, quartermaster-general himself, as is shown by the order of Gen. Meigs, June, 1864, call- ing him to Washington to take control of the bureau of railroad transportation for the United States, under the management of the War Department. This order, however, he persuaded the quartermaster-general to rescind. Mr. Parsons continued in the service of the government until July 13, 1864. Having been

Institution, corner of Vine and Main Streets, by an entrance through the Vine Street sewer, and an effort to tunnel through the rock that forms the foundation of the building."

elected, in the previous February, cashier of the State Savings Association, and being satisfied that the success of the government was assured, he re- signed his commission in the army. As a further recognition of his services he received the brevets of major and lieutenant-colonel. In August, 1864, he assumed the discharge of his duties as cashier of the State Savings Association, and served as such with remarkable fidelity and success until February, 1870, when he was elected president of the association. Mr. Parsons was one of the organizers of the Keokuk and Des Moines Railroad Company, and continued on the directory for some years. He was at one time a director of the Ohio and Mississippi Railroad Com- pany, has been president of the St. Louis Clearing- House for the past ten years, is president of the Hannibal Gas Company, vice-president of the Belle- fontaine Street Railroad Company, and director of the Missouri Street Railway Company, both of St. Louis, and is a director in the water-works companies of Atchison, Kan., and Hannibal, Mo.

On the 11th of June, 1857, Mr. Parsons was married to Miss Martha A. Pettus, of St. Louis.

In the various positions which he has been called on to fill, Mr. Parsons has never failed to exhibit rare business abilities and administrative talents of the highest order.

The Valley National Bank was organized July 25, 1871, and was chartered under the National Banking Act Aug. 9, 1871. The incorporators were Dwight Durkee, George D. Hall, James Richardson, H. H. Curtiss, N. C. Chapman, O. G. Proctor, W. N. Stone, A. W. Mitchell, J. M. Brawner, Preston Rob- erts, Augustus Kountz, N. S. Penfield, J. C. Culbert- son, A. B. Safford, J. L. Stephens, A. D. Jaynes, T. H. Waugh, David Auld, Josiah Hunt, John Williams, and others. The bank opened its doors for business Aug. 23, 1871, at which time its president was Dwight Durkee, who was elected at a regular meeting of the board of directors July 27, 1871. The cashier at that time was James T. Howenstein. When the bank began business the board of directors consisted of Dwight Durkee, George D. Hall, James Richardson, H. H. Curtiss, N. C. Chapman, O. G. Proctor, W. N. Stone, A. W. Mitchell, J. M. Brawner, Preston Roberts, Augustus Kountz, N. S. Penfield, J. C. Culbertson, A. B. Safford, J. L. Stephens, A. D. Jaynes, J. H. Waugh, David Auld, Josiah Hunt, and John Williams. On Jan. 29, 1873, J. A. J. Aderton was elected presi- dent of the bank, and served until Oct. 24, 1878, when he was succeeded by S. E. Hoffman, who has since retained the position. The first location of the bank was No. 320 North Third Street, whence it was re-

Charles Parsons

LIBRARY OF THE UNIVERSITY OF ILLINOIS.

1399

BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.

moved to No. 207 North Third Street, where it remained until the removal to the present location, at the corner of Locust and Fifth Streets.

The annual statement of the bank, Dec. 31, 1881, makes the following exhibit :

Resources.

Loans and discounts.

$889,647.56

Overdrafts. ....

2,602.12

United States bonds.

50,000.00

Other bonds, etc ..

7,038.85

Real estate, fixtures, and furniture ..

12,977.90

Premium on United States bonds ...

1,500.00

Cash and sight exchange.

619,190.18

United States treasurer.

9,250.00

Demand loans.

Need help finding more records? Try our genealogical records directory which has more than 1 million sources to help you more easily locate the available records.

History of Saint Louis City and County, from the earliest periods to the present day: including biographical sketches of representative men, Part 89

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