USA > Ohio > Hamilton County > Cincinnati > Centennial history of Cincinnati and representative citizens, Vol. I, Pt. 2 > Part 88
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Recapitulating, the five leading manufacturing industries from the standpoint of value of prod- tict are : Men's clothing ( factory product ), $11,950,648; foundry and machine shop products, $11,705.778; slaughtering and meat packing (wholesale), $0,532,057 ; distilled liquors, $9,- 419.687, and boots and shoes ( factory product ), $8,788,424.
The live leading industries from the standpoint of the number of establishments are: Men's clothing ( factory product) 351, carpentering 304, tobacco, cigars and cigarettes 295, boots and shoes (custom work and repairing) 202 and men's clothing (custom work and repairing) 270.
The five leading industries from the stand- point of wage carners employed are : Boots and shoes ( factory, product ) 6,919, foundry and ma-
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chine shop products 6,680, men's clothing ( fac- tory product) 3,784, tobacco, cigars and cigar- ettes 3,603 and furniture (factory product), 2,355-
The five industries that pay the highest wages are: Foundry and machine shop products $3,- 211,423, boots and shoes ( factory product) $2,187,356, men's clothing ( factory product) $1,326,045, tobacco, cigars and cigarettes $1,- 258,184, and carriages and wagons $1, 116,426.
The largest amount of capital employed is in the manufacture of malt liquors,-$11,370,912, of which $1,821,052 was land, $3,262,482 build- ings and $2,139,654 machinery. This was fol- lowed by foundry and machine products $10,- 363,917, men's clothing (factory product) $8,- 262,871, leather (tanned, curried and finished) $4,865,480 and furniture ( factory product) $3,- 817,295.
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The population in the city as classified by sex, race and nativity in 1900 was : Males 157,140, females 168,762; whites 311,404, negroes 14,- 482, Indians 2, Mongolians 14; native 267,941, foreign born 57,961 ; percent negro 4.4, percent foreign born 17.8. The largest number of the foreign born came from Germany, 38,219; from Ireland there came 9,114, England, Scotland and Wales 2,902, Russia 1,976, Austria, Bohemia and Hungary 956, Italy 917, Poland 471, Den- mark, Norway and Sweden 172 and other coun- tries 2,203.
By age periods the classification shows that under five years of age there were 29,821 ; from five to nine, 32,173; 10 to 14, 30,605; 15 to 24, 65,056; 25 to 34, 60,402; 35 to 44, 47,441 ; 45 to 64, 47,128; and 65 years and older, 13,058; age unknown, 218. The total population of school age was 100,821, of whom 97,270 were white and 3,551 negroes ; of these 53.8 percent were attend- ing school, 54 percent white and 50 percent negro. There were 8,848 illiterate of 10 years of age and over. Of these 6,376 were white and 2,472 negroes, Indians and Mongolians, or 1,262 native and 5,114 foreign born; in other words, the illiterate population was 3.4 percent, of which 7-10 of one percent were native born whites. The number of males of voting age was 92,799, of which 87,786 were white and 4,997 negroes ; 65,907 were native and 26,892 foreign born.
Cincinnati contained 94,580 single males and 92,574 single females ; 57,180 married males and 57,547 married females ; 5,018 widowed males and 18,057 widowed females ; 289 divorced males and 554 divorced females ; 73 males and 30 fe-
males seem to have escaped the census man for their class is unknown. The total poulation of the city at least 10 years of age was 263,908, and of these 141,699 were engaged in gainful occupations, divided as follows: Agriculture 1,123, professional service 6,906, domestic and personal service 31,661, trade and transportation 41,052, manufacturing and mechanical pursuits 60,957. Of the whole population over 10 years of age 125,941 were males, of whom 103.913 were occupied in gainful occupations and 137,- 967 were females, of whom 37,786 were engaged in gainful occupations. In professional service there were 4,842 males and 2,064 females; in domestic and personal service 17,415 males and 14,246 females; in trade and transportation 34,- 573 males, 6,479 females; and in manufacturing and mechanical pursuits 45,989 males and 14,968 females.
The total number of dwellings in the city was 40,634, in which resided 74,536 families. The average number of persons to a dwelling was 8; to a private family, 4.2; 14,891 families or 20.9 percent of the population dwelt in their own homes, of which 9,725 were free from in- cumbrance. To quote the population statistics may be given the total figures of Hamilton County which, having a surface of 425 square miles, had in 1900 a population of 409,479 pco- ple, as against 374,573 10 years before.
The mortality tables for 1900 show 6,214 deathis, of whom 5,786 were whites. Of the whites 3,573 were native and 1,730 foreign born and of the native whites 1,574 were born of native parents and 1,373 were children of one or both parents foreign born. The death rate per thousand was 19.1, higher than any large city in the State, except Chillicothe. The death rate among whites was 18.6 and among negroes, In- dians and Mongolians, 29.5. Among the native born the death rate was 15.4 and foreign born, 32.6. The lowest rate was in the case of those born of one or both parents foreign born, 13 per thousand, while the rate where both parents were native was 18.3. The principal causes of death figured from 100,000 population were: Consumption 235.3, pneumonia 157.1, diarrlical diseases 127.6, diphtheria and croup 33.1, typhoid fever 32.5, influenza 14.7, scarlet fever 8.3. whooping cough 7.1, measles 2.1 and malarial fever. 1.5.
In the carly part of April, 1904, an estimate was issued by the Census Bureau which gave the population of Cincinnati as 332,934. This estimate is supposed to be of date of January
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1, 1904, and to be based on the actual increase of the two previous decades. It, of course, does not include the villages annexed since the first of the year, which are supposed to contain about 6,000 people.
It is the custom in connection with the dis- cussion as to Cincinnati's population to refer to the fact that as the center of industrial, social and intellectual life it includes a number of the villages of Hamilton County as well as the neighboring towns of Covington and Newport, Kentucky, and their suburbs. Covington in 1900 had a population of 42,938 and Newport 28,301. The population alone, however, is not a fair test of a city's importance and in the judg- ment of the writer altogether too much attention has been paid to its significance. The constant repetition of this statement, however, seems to imply a doubt of its truth, and the never-ending discussion as to the correctness of census figures seems not only fruitless in results but absolutely injurious to a community's standing. A much better indication of the material prosperity of the city is given by the figures from the census reports of manufactures and from the reports of the Chamber of Commerce, quoted in this chapter. Another item that is usually given in these discussions as affording an indication of Cincinnati's business standing is the aggregate of bank clearances, which for 1903 was $1, 154,- 647,600.
THE INDUSTRIES OF 1902.
The reports of the Chamber of Commerce, which have been continued for over 50 years, are of great value as giving the history of the development of the commerce and industry of the city. The figures given "are not confined to the corporation limits of the city, but em- brace the immediate surroundings which are a part of this centralization of industrial enter- prise." According to these figures the value of commodities received in 1902 was $545,000,000 as compared with $407,538,800 in 1900. The value of manufactures was $315,000,000, an in- crease of $30,000,000 in two years. The Clear- ing House exchanges for 1902 aggregated $1,080,902,000, as against $795,593,000 i11 1900. Many gains were indicated in industrial opera- tions during the preceding five years. The esti- mated valuation of commodities received in 1902 as compared with 1897 showed an increase of 97 percent, the increase in manufactures was 34 percent, in bank ciearing's 72 percent, in the production of leather 67 percent, of boots and, shoes 60 percent, soap 67 percent, harness and
saddlery 41 percent, machinery 67 percent, ve- hicles 33 percent, furniture and office furnishings 33 percent, clothing 30 percent, groceries 25 percent, pig iron received and sales for shipment 118 percent, petroleum received and sales for shipment .81 percent, lumber received 196 per- cent, shipments of meat 22 percent. Large gains were also made in the output of electrical equip- ments, machine tools, pianos and other musical instruments, printing ink, chemicals, etc. The receipts of grain for the local trade for the year aggregated 13,845,000 bushels and flour 2,408,- 000 barrels, a slight falling off. The receipts of hogs, exclusive of through movements, were 781,800, showing a falling off as the annual average for five vears prior to 1902 was 980,000. Attention is called to the fact that Cincinnati was for many years the leading point in pork packing operations in the West. It "continued so until the base of supplies of the raw material, through the development of the agricultural re- sources westward, encouraged the erection of slaughtering establishments in more particular proximity to the enlarging supplies of hogs." The pioneer establishment in the industry found- ed in 1818 is given as that of Elisha Mills and the growth of the industry is shown by figures beginning in 1832, at which time the number of hogs packed was 85,000. For the next 10 years the annual average was 136,000, the second 10 years 310,000, the third 10 years 395,000 and the fourth 10 years 415,000. The highest rec- ords in each of these ternis were 220,000, 475,- 000, 475,000 and 630,000. Before 1872 meat packing was confined to the winter months but in that year as a result of artificial refrigeration, summer packing was made possible and the de- cline of the industry was delayed until 1879 (Census Bulletin No. 154). The highest annual record since the establishment of summer killing was in 1878-79, when 778,000 was reached, or 280,000 in excess of the year ending March 1, 1903, of which the total was 498,000.
In the manufacture of soap the output in Cin- cinnati is greater than that of any other locality in the country and an estimate of the quantity made is given as 235,000,000 pounds, approxi- mately worth $16,000,000. Rectified spirits were produced in 1902 to the extent of 15,184,000 gallons and malt liquors to the extent of 1,385,- 600 barrels. The local consumption of malt liquors was approximately 985,000 barrels, or 30,535,000 gallons, about 55 gallons per capita of the population of Cincinnati and suburbs, rep- resenting an annual expenditure of about $22
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per capita for the year, or an aggregate of $12,- 000,000. Retailers paid out for the quantity handled by them for the year $6,400,000.
"Cincinnati still holds first position in the country in sales of pig iron ; dealers here doing large business in effecting transactions for direct movement from furnaces to points of destina- tion." Receipts of pig iron in 1902 were 743,600 tons and the shipments 691,900 tons. Sales by local dealers for direct shipment not included in foregoing figures aggregated 1,319,800 tons and the value of the total receipts and sales for direct shipment approximated $43,300,000. The re- ceipts of manufactured iron and steel indicated a total of 422,600 tons, valued at $21, 100,000. The arrivals of coal reached the total of 87,996,- 793 bushels. There was a considerable falling off in the receipts of cotton ; the number of bales received aggregated 179,800, as compared with 233,900 bales for the year preceding. Lumber amounting to 96,500 car-loads and valued at almost $35,000,000 was received. Leaf 'tobacco valued at $9,710,000 was included among the receipts and 5,880,000 pounds of smoking to- bacco, 1,695,000 pounds of chewing tobacco and 271,003,000 cigars were manufactured in Cin- cinnati, Covington and Newport. This, by the way, represented a very decided falling off. The aggregate sales of dry goods for the year amounted to $41,000,000. The total local sales of boots and shoes, including local and other manufacture, is estimated at $22,950,000 and those manufactured in the city at $16,000,000. The sales of clothing reached a total of $26,975,- 000. The output of furniture and office fixtures is estimated at $8,000,000. In this line Cincin-
nati claims the first position in the country. An- other large industry is that of .vehicle manufac- turing and it is claimed for the city that its out- put of vehicles exceeds that of any other place in the country; $8,000,000 is estimated as a fair value for the product of 1902. The variation between the census figures and those of the Chamber of Commerce calls for discussion and it is claimed that a fair proximate estimate of the value of manufactures for the locality is $285,000,000 for 1900, $300,000,000 for 1901 and $315,000,000 for 1902.
The industries. in which the city excels other localities specially mentioned are those of wood working machinery, machine tools, machinery and engines of every kind, vehicles, soap, metal products of every description, clothing, shoes, leather, harness and saddlery, furniture, bank, bar and office furnishings, distilling and brew- ing, printing, printing ink, playing cards, chemi- cals, pianos, lumber, pork and beef products, fireproof safes and tight cooperage. Notable articles of export are machinery of all kinds, machine tools, soap, oils, pianos, decorated pot- tery, whiskeys, pharmaceutical products, stoves, and furniture and office furnishings. The local internal revenue collections for 1902 aggre- · gated $11,687,000, which is, but little over the annual average. Ninety freight and passenger steamers of a total tonnage of 15,483.18 are given as plying between Cincinnati and other ports during the year 1902. By the foregoing figures compiled from the census returns of 1900 and the Chamber of Commerce report of two years later the statistical side of Cincinnati of the present day is fairly well covered.
CHAPTER LII.
BANKING AND EARLY MONEY
THE BANKS PRIOR TO THE WAR -- THE BANKS OF THE PRESENT DAY - EARLY MONEY OF CINCIN- NATI -ABORIGINAL COINS OR CURRENCY-MONEY OF THE EARLY WHITE SETTLERS OF CINCIN- NATI -VERY EARLY PAPER MONEY OF CINCINNATI -- CINCINNATI-CALIFORNIA GOLD MONEY - TRADESMEN'S TOKENS, 'STORE AND SHOP CARDS, OR "HARD TIMES" MONEY - "NECESSITY" MONEY OF THE REBELLION, 1861-65 - COLLECTIONS AND COLLECTORS OF COINS, MEDALS, . TOKENS, BANK BILLS, " SHINPLASTERS," ETC., IN CINCINNATI.
TIIE BANKS PRIOR TO THE WAR.
The early history of banking has been given at length in the chapters dealing with the period. The story of the Miami Exporting Company is a story of enterprise and disaster. The other banks of those days as well,-the Farmers' & Mechanics' founded almost a decade later in 1812, the Bank of Cincinnati opened in 1814,- all gave way to the great national bank and finally the panic of 1820 stopped for a time, at least, all banking enterprises.
The Bank of the United States, however, es- tablished another agency at a little later time in May, 1825. Peter Benson was sent out to open the Branch and a good local board of directors was selected. In 1829 the president of this, the only banking institution in the city, was James Reynolds and Peter Benson was the cashier. The directors were Bellamy Storer, M. P. Cassilly, William Neff, John H. Groesbeck, William Phil- lips, Henry Emerson, J. W. Mason, C. W. Gaz- zam, Joseph Gest, William Greene, Luman Wat- son and Benjamin Urner. The capital stock of the Branch was $1,200,000 and the directors are ' credited with intelligent management which proved highly advantageous to the business of the West. Specie payments were enforced and local banks which were established a little later were compelled to keep their circulation within
safe limits and exchange was supplied at fair rates. The bank building which was on the cast side of Main street between Third and Fourth was regarded "as one of the chastest specimens of architecture within the city." The front was of freestone and was 40 feet exclusive, of the wings which were 10 feet cach in width. The remainder of the building was of brick and was two stories high. An engraving of the building is presented in Drake's and Mansfield's "Cin- cinnati in 1826." Among the new directors in 1831 were David Gwynne and Josiah Lawrence.
At a little later time the capital of the Branch Bank was increased to $1,700,000. The same officers managed the bank for a number of years and there were not many changes in the directorate. In 1834 among the new names were William McLean, Thomas W. Bakewell, Lewis Howell, Charles Sonntag, Lewis White- man, Griffin Taylor, Charles S. Clarkson and Jacob Resor. The bank's career ended of course with the expiration of the charter for the parent institution in 1836. Timothy Kirby, its agent, maintained an office in the city for many years for the purpose of winding up its business.
The next bank to be organized in Cincinnati was the Commercial Bank. The Directory of 1829 states that the stock had not yet been entirely subscribed for, but very shortly after- wards the bank opened for business with an
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office at No. 45 Main street between Colum- bia and Front streets. Its capital was $1,000,- 000 and its president, Robert Buchanan and cashier, William S. Hatch. Its directors in- chided some of the most prominent of Cincin- nati's business men, such as Jacob Strader, John S. Lytle, Francis Read, James McCand- less, J. Smith Armstrong, Nathaniel Wright, John McCormick, Joseph Smith, Thomas Reilly, John Young, John M. Rowan, John Yeatman, James Johnson, J. R. Coram, Aaron G. Gano and James Hall. The directorate was much changed by 1831, Elisha Brigham, Henry Orne, E. C. Smith, G. R. Gilmore, Caleb Bates, J. T. Martin, David Griffin, Ezekiel Thorp and William S. Hatch acting at that time with but four of the previously named directors : Thomas Reilly, John Young, Francis Read and President Robert Buchanan. Augustus Moore had become cashier with Robert I. Dunlap as teller. Buchanan had been succeeded as president by 1836 by J. S. Armstrong. In 1841 Armstrong was still president and James Hall was cashier. Ten years later Jacob Strader had succeeded Arm- strong as president. Just prior to the war the president was James Hall and Charles B. Foote, who afterwards became president and was acting in such capacity at the time the bank went out of existence, was cashier.
Another institution organized about the same time was the Savings Institution of which George W. Jones was president and H. H. Goodman, secretary. Its office was at No. 5 West Third street at Goodman's Exchange office near Main. Its directorate was quite large. In 1836 it included 24,-William Burke, Jacob Burnet, Stephen Burrows, William Crossman, John P. Foote, Calvin Fletcher, Jo- seph Gest, J. H. Groesbeck, David Gwynne, William Hartshorne, E. S. Haines, Micajah T. Williams, Daniel H. Horne, E. P. Langdon, James McIntyre, E. Morgan, George C. Mil- ler, William Neff, Jacob Resor, Joseph Smith, Wright Smith, Sr., O. M. Spencer, Sr., Will- iam Stephenson and Charles Tatem. This in- stitution was strictly a savings bank, receiv- ing the smallest sus for deposit and paying interest which for a number of years exceded ' eight percent per annum. Most of the di- rectors at this time had served from the or- ganization of the institution in 1831. Of the first directorate, Martin Bamm, Peter Britt, James Reynolds, Lewis Howell, Francis Carr,
Ezekiel Thorp, David Loring and Matthew Benson had retired.
The Franklin Bank, another million dollar institution, was incorporated on the 19th of February, 1833. Its banking house was for a time on Main street between Third and Fourth and its president for a great many years was John H. Groesbeck. It is the oldest banking house in the city doing business at the present time. Augustus Moore was its cashier for. a number of years and among its carly directors were Samuel Wiggins, William Greene, - Mar- cus Smith, John P. Foote, Micajah T. Will- iams, George Luckey, Josiah Lawrence, Ed- ward King, James McGregor, .William Disney, Daniel Corwin (1834), David Loring, George W. Jones, O. M. Spencer, Sr., William S. Johnson, E. S. Haines, Griffin Taylor, Fenton Lawson and J. C. McClellan ( 1836). By 1841 William Hooper had become the cashier. T. M. Jackson was cashier in 1851 and occupied that position until the time of the war. At this time the bank was called Groesbeck & Company and included J. H. Groesbeck, J. C. Culbertson and Charles H. Kilgour. This com- pany is still in existence as a private bank.
The celebrated Ohio Life Insurance & Trust Company was incorporated in February, 1834, with authority to make insurance on lives, to grant and purchase annuities, to receive and execute trusts of every description and to buy and sell bills of exchange and drafts. On all sums received by the company over $1oo they allowed not less than four percent per annum. The capital stock was $2,000,000 and it was . required to be invested in bonds or notes sc- cured by unincumbered real estate at an in- terest not to exceed seven percent. About one-fourth of its capital could by the terms of its charter be loaned upon real estate in any one county. The company was authorized to issue bills and notes to an amount not to ex- ceed twice the amount of the funds deposited with the company for a time not less than one year other than the capital stock and was not permitted at any time to have in circulation an amount greater than one-half the capital paid in and invested in bonds and notes. The charter was not to be repealed or amended be- fore the year 1870. The powers of the com- pany were to be exercised by a board of 20 trustees, each of whom was required to have not less than $500 stock. This for many years one of the most powerful institutions of the West had its office for a time at the north-
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west corner of Fourth and Main and after- wards at the southwest corner of Third and Main. Its president was Micajah T. Williams ; secretary, Samuel R. Miller; and cashier, J. M. Perkins. In its board of directors were such men as Jacob Burnet, Vachel Worthing- ton, Alexander Gibson, David T. Disney, George Luckey, Samuel Fosdick, and James R. Baldridge. In 1851 Charles Stetson became president and his neighbor, William Grene, was the secretary while G. S. Coe acted as cashier. A well known member of the banking fraternity, S. P. Bishop, was the assistant cash- ier. The panic of 1857 was precipitated by the failure of this institution which suspended payment on August 24th. This suspension was really caused by the action of the New York Branch, which had placed large call loans at points where they were not imme- diately available. The excitement in the city as a result of this shock to public confidence caused a run on all the banks. Although there was almost universal suspension throughout the country, most of the banks in Cincinnati were able to weather the storm.
The Lafayette Bank was incorporated in February, 1834, with a capital stock of $1,000,- 000 under a 20-year charter. Its president was Josiah Lawrence and its cashier, W. G. W: Gano. This bank, too, had a distinguished directorate, including such prominent citizens as John D. Jones, Salmon P. Chase, Caleb Bates, Davis B. Lawler, Henry L. Tatem, Wright Smith, C. Donaldson, Charles S. Clark- son, George W. Neff, William McLean, Mor- gan Neville and S. W. Phelps. In 1839-40 the Franklin and Lafayette banks cooperated in erecting the well known building on the north side of Third street between Walnut and Main, which is still occupied by these two in- stitutions. It was at the time of its erection and is still one of the most majestic buildings not only in the city but in the United States. The architect was Henry Walter, who took its design from that of the Bank of the United States at Philadelphia, although both in fact with their magnificent Doric columns four feet six inches in diameter were modeled from the Parthenon. This building was built of freestone from the banks of the Ohio River. George Carlisle was the president of this bank in 1851. In 1859 the proprietors are . given as George Carlisle, Samuel Wiggins and C. P. Cassilly. Mr. Gano still continued as cashier and Henry Peachey was the assistant cashier.
Another bank, the Miami Exporting Com- pany, reappears in 1836 with a capital stock of $600,000, with J. C. Wright as president and J. G. Lamb as cashier. This institution recognized the growth of the city to the north and had its banking house on the northeast corner of Court and . Main streets. Among its directors were Daniel Gano, George Graham, Jr., J. W. Caldwell, George W. Jones, Jr., J. W. Coleman, C. W. Gazzam, James Taylor, J. M. Bissell, C. S. Ramsey and W. R. Morris. N. W. Thomas and T. W. Bakewell were subsequent presidents. In 1851 Stanhope S. Roe was cashier. The bank at this time was at No. 700 Main street.
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