History of Madison County Ohio: Its People, Industries and Institutions, Part 36

Author: Chester E. Bryan
Publication date: 1915
Publisher:
Number of Pages: 1207

USA > Ohio > Madison County > History of Madison County Ohio: Its People, Industries and Institutions > Part 36

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and Wilson A. Koontz, which board, on December 18, 1875, elected Robert Rea, presi- dent, and William Farrar, cashier, designating January 1, 1876, as the time for open- ing the bank for business. By an increase of capital stock Dr. W. D. Williams was added to the list of stockholders on January 1, 1878, at which time Robert Rea resigned as director and Jeremiah Rea was elected in his stead. These gentlemen all worked in harmony for the success of the institution.

Since the bank opened for business the following gentlemen have served as presi- dent; Robert Rea, John Farrar, T. J. Stutson and Horace G. Jones. As cashier, there have been but two, William Farrar, continuously from January 1, 1876, to the time of his death in 1880, and Xerxes Farrar from 1890 to the resent date. Charles W. Pringle was the first teller and in the year 1878 John D. Maddux succeeded L. W. Burnham as teller, continuing in said office to the present time.

This bank continued with marked success until the year 1913, when the same was reorganized and is now known as the Central National Bank of London, with Horace G. Jones, president, W. E. Farrar, vice-president and Xerxes Farrar, cashier and the following directors: L. H. Williams, M. L. Rea, E. O'Day, John Ellsworth, R. H. McCloud, T. J. Dwyer, Horace G. Jones, W. E. Farrar and Xerxes Farrar. The motto of this bank has always been "Safety First" and it ever has demonstrated its willing- ness to cooperate with its patrons in the development of their respective business interests. The customers of the Central National Bank value and "bank on" that insti- tution's willingness and ability to assist them in every way consistent with safe, sound banking, whether their accounts be large or small, which makes for a mutually satis- factory and profitable relationship and for the future well-being of both bank and patrons.

PEOPLE'S COMMERCIAL AND SAVINGS BANK OF LONDON.

The People's Commercial and Savings Bank was incorporated under the laws of Ohio as a state bank on January 27. 1910, and opened for business on the 5th of the following March. The incorporators were O. P. Anderson, H. B. Lenhart, Samuel P. McCollum, M. B. Armstrong and W. H. Carl. The first officers included : E. S. Gordin, president ; H. B. Lenhart, vice-president, and S. P McCollum, cashier The only change in the list of officers was made when H. B. Welsh succeeded Mr. McCollum as cashier on January 10, 1915. Miss Jennie Davidson has been added as. bookkeeper. The first directors were E. S. Gordin, H. B. Welsh, O. P. Anderson and H. B. Lenhart. The present direc- tors are E. S. Gordin. H. B. Welsh, John Crawford, O. P. Anderson, H. B. Lenhart, Leon. Lenhart. Howard Lewis, John Vallery. Herbert Adams, J. C. Plimell, E. W. Bidwell and J. L. Pierce.

The bank has a paid-up capital of twenty-five thousand dollars and deposits of one hundred and eighty thousand dollars. The surplus and undivided profits amount to five thousand dollars. The bank has maintained a savings department since it was organized, five years ago, and according to its last report, had eight hundred and seven depositors in the department. with total savings of fifty-one thousand dollars. The total number of depositors average twelve hundred. The bank has been located at No. 115 South Main street since it was organized. This is the youngest financial institution in Madison county, but by careful attention to its affairs has built up a business which is steadily increasing from year to year.

CITIZENS' LOAN AND SAVINGS COMPANY, OF LONDON.

The Citizens Loan and Savings Company, of London, was organized on May 11, 1891, with capital stock of two hundred and fifty thousand dollars. This was doubled, in accordance with the laws of Obio, on January 14. 1913. According to the last report (December 31, 1914). two thousand nine hundred sixty-seven shares of stock had been

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sold, at a hundred dollars a share. At that time there were two hundred sixty-four stockholders, one hundred ninety-six depositors and sixty-eight borrowing members. Practically all of the stockholders live in London and the seventy-five thousand dollars loaned on mortgages is placed on property in this city. The officers of the company are: R. W. Boyd, president; H. M. Chaney, vice-president ; O. E. Jones, secretary. The offices of the company are in the London Exchange Bank Company.

LONDON HOME AND SAVINGS COMPANY.

The London Home and Savings Company was granted articles of incorporation on January 31, 1889, and opened for business on February 13, 1889, with the following officers: F. M. Chenoweth, president; Dr. J. T. Houston, vice-president; William Farrar, treasurer; J. R. Atchinson, secretary ; M. S. Murray, attorney. The incorpora- tors were Xerxes Farrar, R. H. McCloud, J. R. Atchison, J. F. Johnson, William Cartz- dafner and Horace G. Jones. The company opened for the transaction of business in the drug store of J. R. Atchison and remained there until March, 1909, when it was removed to the Central Bank, now the Central National Bank.

The original capital stock of one hundred thousand dollars was increased to five hundred thousand dollars by a vote of the stockholders on July 21, 1890. The par value .of a share is two hundred dollars. According to the report at the end of the last fiscal year (February 28, 1915), there were two thousand five hundred fifty-six shares sold, three hundred ninety borrowing and non-borrowing members, eighty-six borrowing mem- bers, and outstanding loans of ninety-five thousand one hundred seventy-one dollars. Practically all of the stock in the company is held by residents of London. A few loans are made on farm lands, although the company does not make a practice of such loans. There are never over three or four farm loans at a time.

At the last annual election, held February 8, 1915, the following directors were chosen : C. E. Arbuckle, John W. Byers, W. H. Chrisman, M. M. Creath, A. T. Cordray, George F. Dodds, Otto Ebner, Xerxes Farrar, J. A. Gardner, J. D. Maddux, R. K. Shaw, S. L. Turner and J. B. Van Wagner. The board of directors organized by electing the following officers : R. K. Shaw, president ; M. M. Creath, vice-president; Xerxes Farrar. treasurer ; J. D. Maddux, secretary.

FIRST STATE BANK, PLAIN CITY.

The First State Bank. of Plain City. was organized in 1914, with the following 'stockholders: Dwight Harrison, G. W. Rhoades, N. E. Vining, M. Fultz and M. T. Frazer. The first officers were as follow: W. B. Gilgore, president; Henry Bowman, vice-president ; L. A. Taylor, cashier; W. P. Hudson and A. B. Fiedler, assistant cashiers. The first directors were W. L. Blaney, C. D. Brown, G B. Chapman, W. B. Gilgore. Charles Wilson, Henry Bowman, Frank Cary, O. K. Howland and D. L. Lombard. The bank erected its own building, at a cost of ten thousand dollars. It is a handsome brick structure and the banking quarters are equipped with all the fixtures necessary for the transaction of modern banking. The bank has a capital stock of twenty-five thousand dollars, with a surplus of equal amount. The deposits on August 5, 1915, were $259,104.52. The present officers of the bank are: W. B. Gilgore, president; Charles Wilson, vice- president ; W. P. Hudson, cashier ; A. B. Fiedler, assistant cashier.

THE FARMERS NATIONAL BANK, OF PLAIN CITY.

The Farmers National Bank, of Plain City, was organized on August 6, 1900, with William Atkinson, Charles F. Atkinson, Cephas Atkinson, J. L. Ballinger and Charles F. Dutton, as stockholders. The bank was started with a capital stock of twenty-five thou- sand dollars, which remains the same. The first officers were as follow: William Atkinson, president; Charles F. Dutton, vice-president; Cephas Atkinson, cashier. The

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first directors included the officers and J. L. Ballinger, C. Humphreys, John Florence and Charles F. Atkinson. In 1902 the bank erected a brick building, at a cost of fifteen thousand dollars, and now has one of the best-equipped banking quarters of any bank in the state in a town of the size of Plain City. In 1907 C. F. Dutton became president. Cephas Atkinson, vice-president, and J. R. Woods, cashier. In 1914 Cephas Atkinson was elected president and W. H. Hauer, vice-president. During the fifteen years the bank has been doing business it has lost less than one b'indred dollars a year on an average. Since February 1, 1909, it has paid three per cent. interest on time deposits and has built up a big business along this line, despite the fact that it is in competition with eleven banks within twelve miles of Plain City which pay four per cent. on time deposits and saving accounts. According to the last report of the bank, June 23, 1915, it had deposits of $263,670.79; surplus and undivided profits of $40,073.99, and loans of $266,656.36.

PLAIN CITY HOME AND SAVINGS COMPANY.

The Plain City Home and Savings Company was organized in May, 1887, by J. L. Ballinger, Daniel Perry, R. C. Hager and Charles F. Margan. The first officers were : William I. Ballinger, president; R. C. Hager, vice-president; J. F. Feather, secretary; Charles F. Margan, treasurer. The present capital is five thousand dollars. According to the last annual report, there were one thousand eight hundred ninety-eight shares in force, three hundred seventy-one stockholders, two hundred two borrowing members and nine hundred seven shares loaned upon. The present officers are as follow: J. W. Bowers, president; R. C. Hager, vice-president ; J. R. Woods, secretary ; Cephas Atkinson, treasurer. The office of the secretary is in the Farmers National Bank.

SECURITY BUILDING AND LOAN COMPANY, MT. STERLING.

The Security Building and Loan Company, of Mt. Sterling, was incorporated in 1889, by W. W. Schryver, J. G. Loofbourrow,. J. A. Miller, W. R. Richards, Sherman Leach, I. S. Henkle, John Crotly, J. T. Walters and R. N. Schryver. The first officers were as follow : J. A. Miller, president; J. T. Walters, vice-president; R. N. Schryver. secretary ; J. G. Loofbourrow, treasurer. The present officers include: J. T. Walters, president ; J. N. Waldo, vice-president ; C. M. Neff, secretary; R. N. Schryver, treasurer. The company has its offices in the Security building in Mt. Sterling. According to the last report (June 30, 1915), the company had $390,200 of its authorized capital stock of $500,000 subscribed and in force. There were at that time 3,902 shares in force, owned by 652 individual stockholders. A total of 2,136 shares were loaned upon, the number of borrowers being 298. The 481 depositors had $107,709.68 on deposit. Sufficient facts have been given of the company to show that it is a very prosperous institution and well worthy of the confidence of the community it seeks to serve.

CITIZENS NATIONAL BANK, OF MT. STERLING.

The Citizens National Bank, of Mount Sterling, was organized in 1908, by the fol- lowing stockholders: James Johnson, John Miller, S. W. Beale, A. S. Alkire, E. C. Breyfogle, F. L. Albright, T. J. England, Willis Jones, N. C. Gantz, J. C. Murray, G. W. Miller, John McCafferty and S. H. Ridgway. The first officers and directors were as follow : John Miller, president; S. W. Beale, vice-president; H. J. Taylor, cashier. Thi's bank is the outgrowth of the Alkire-Beale private bank, which lost its identity with the organization of the Citizens National Bank, on April 4, 1908. At the time of the organization of the national bank it started out with total resources of two hundred and twenty-five thousand dollars. The present officers are as follow : A. S. Thomas, presi- dent ; S. W. Beale, vice-president ; H. J. Taylor, cashier ; A. Ross Alkire, assistant cashier. The directors are A. S. Alkire, F. L. Albright, E. C. Breyfogle, T. J. England, Harry G. (17)

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Beale, Willis Jones, N. C. Gantz, J. C. Murray, G. W. Miller, John McCafferty and S. H. Ridgway. The bank erected a brick building in 1909, at a cost of nine thousand dollars. The capital stock is sixty thousand dollars, with a surplus of twenty thousand dollars.

THE FARMERS BANK, OF LILLY CHAPEL.

The Farmers Bank, of Lilly Chapel, was organized in May, 1909, with R. E. Hall as president and Henry Lilly, as vice-president. Mr. Lilly died in 1910, and in 1913 Mr. Hall sold his interest in the bank to the Horn brothers. The present officers of the bank include : F. M. Horn, president ; E. A. Horn, vice-president, and F. M. Stickley, cashier. The bank has enjoyed a prosperous career and is an institution of which the people of Fairfield township have every reason to be proud. It has a patronage, not only in Fairfield township, but in Jefferson, Deer Creek and Union townships as well.

FARMERS BANK, OF WEST JEFFERSON.

The Farmers Bank, of West Jefferson, was organized on January 1, 1901, with Owen Harbage, Benjamin Harbage, A. C. Millikin and C. H. Putnam as stockholders The first officers and directors were as follow: Owen Harbage, president; C. H. Put- nam, vice-president ; Benjamin Harbage, cashier; A. C. Millikin, assistant cashier. Shortly after the organization of the bank, C. H. Putnam sold his interest. Upon the death of Benjamin Harbage, in 1903, E. W. Johnson took his position as cashier and at the same time bought a third interest in the bank. A. C. Millikin died on January 21, 1908, and R. C. Millikin took his, place as assistant cashier. Clark Wade, teller, died in 1914, after having served the bank in this capacity for three years. The present officers of the bank are as follow: Owen Harbage, president; E. W. Johnson, cashier; R. C. Millikin, assistant cashier. The bank has a capital stock of fifteen thousand dollars, a. surplus of two thousand dollars and deposits of one hundred and forty thousand dollars.

COMMERCIAL BANK OF WEST JEFFERSON.

The Commercial Bank of West Jefferson, was organized in 1882 by Ashton A. Gregg and Dr. Jefferson Coliver, with Ashton A. Gregg as president and John B. Hill as cashier. The present officers of the bank include: P. M. Gregg, president; J. C. Gregg, vice- president ; A. A. Gregg, cashier; Howard Johnson, assistant cashier. The bank has a. capital of twenty thousand dollars, with deposits of two hundred and twenty-five thou- sand dollars, and a surplus of twelve thousand dollars.

FARMERS AND TRADERS BANK OF SOUTH BOLON.

The Farmers and Traders Bank of South Solon was organized in 1906. It was founded as a state bank by the following men : E. W. Christy, A. P. Gatch, J. A. Sim- merman, D. J. Schurr and C G. Harrod, who also served as the first officers in the following order : E. W. Christy, president; A. P. Gatch, vice-president; D. J. Schurr, cashier. The first directors consisted of the officers of the bank and J. A. Simmerman, C. G. Harrod, E. S. Gordin and A. P. Gatch.

This bank through its safe and conservative methods has experienced a steady growth from the beginning to the present time The report of December 5, 1907, showed assets of fifty-six thousand eight hundred and seventy-one and the last statement . showed assets of one hundred and ninety thousand dollars. This bank has always paid four per cent. on savings and at present has two hundred and fifty savings accounta. The present capital of the bank is twelve thousand five hundred dollars, with surplus and profits of thirteen thousand dollars and deposits amounting to one hundred and sixty thousand dollars.

The present officers are Charles G. Harrod, president; C. C. Farley, vice-president; U. G. Evans, cashier; George T. Harrod, assistant cashier; Robert L. Ritnour, O. M. Farley, E. S. Gordin, Floyd A. Johnston, Charles G. Harrod and C. C. Earley, directora.

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CHAPTER XXIII. NEWSPAPERS OF MADISON COUNTY.

Newspaper men have frequently tried to sum up, in a pithy paragraph, the function of the newspaper and thousands of articles have been written on its influence on modern life. Perhaps no more apt summary of the place of the newspaper in our civilization of today has ever been written than that of Joseph H. Finn, a newspaper man of Chicago, and delivered by him as part of an address before the Associated Advertising Clubs of the World in the spring of 1915. His apostrophe follows:

"I AM THE NEWSPAPER."

"Born of the deep, daily need of a nation-I am the Voice of Now-the incarnate spirit of the Times-Monarch of Things that Are.

"My 'cold type' burns with the fireblood of human action. I am fed by arteries of wire that girdle the earth. I drink from the cup of every living joy and sorrow. I know not day nor night nor season. I know not death, yet I am born again with every morn-with every moon-with every twilight. I leap into fresh being with every new world's event.

"Those who created me cease to be. The brains and heart's blood that nourish me go the way of human dissolution. Yet I live on-and on.

"I am majestic in my strength-sublime in my power-terrible in my potentialities- yet as democratic as the ragged boy who sells me for a penny.

"I am the consort of kings the partner of capital-the brother of toil. The inspira- tion of the hopeless-the right arm of the needy-the champion of the oppressed-the conscience of the criminal. I am the epitome of the world's Comedy and Tragedy.

"My responsibility is infinite. I speak, and the world stops to listen. I say the word, and battle flames the horizon. I counsel peace, and the war lords obey. I am greater than any individual-more powerful than any group. I am the dynamic force of Public Opinion. Rightly directed, I am the creator of confidence; a builder of happi- ness in living. I am the teacher of patriotism.

"I am the hands of the clock of time-the clarion voice of civilization. I am the newspaper."

The history of the first newspapers in Madison county is shrouded in more or less obscurity, due to the fact that no files have been preserved. According to the best accounts, there were at least two papers in London prior to 1835, but their names and dates of publication are unknown. Pazzi Lapham, who was appointed postmaster of London on October 10, 1834, and followed by John Rouse on November 15, of the same year, is credited with being the editor of the first paper in London. The second paper. the name of which is unknown, as well as its exact date of first issue, is said to have been started by Joseph Anthony. The best authority places both of these papers before 1835 and it is reasonably certain that both enjoyed but a brief career.

LONDON TIMES.

The present paper bearing the title of The London Times, the oldest in point of continuous publication, dates from September, 1843, although it has been known by the present name only since October 27, 1870. It bore four different titles from 1843 to 1870,

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namely : London Sentinel, September, 1843, to March 1, 1851; Madison Reveille, March 8, 1851, to February 2, 1854; Madison Chronicle, March 4, 1854, to May, 1863; Madison County Union, May, 1863, to October 20, 1870; the name, London Times, has been carried at the head of the paper since the issue of October 27, 1870. The detailed history of the London Times, arranged chronologically, follows:

1843, September 1-London Sentinel, founded by George W. Sprung as editor and proprietor ; folio, six-column, eighteen by twenty-four inches; Whig in politics; published weekly on Saturday.

1851, March 1-Name changed to The Madison Reveille; published by George Sprung and edited by E. E. Hutcheson.

1851, March 8 First issue of Reveille appears.

1854, February 2-Office destroyed by fire; issues of February 11, 18 and 25 published in Columbus.

1854, March 4-Paper re-established in its own plant in London; appears under the name of The Madison Chronicle at the request of the subscribers; size of the paper changed to seven column.

1857, March-Day of publication changed to Thursday.

1863, May-Chronicle sold to J. D. Stine and John Wallace; new owners change the name to The Madison County Union.

1864, January-J. D. Stine withdrew from the paper, John Wallace continuing as sole owner and editor.

1864, September-J. D. Stine becomes sole proprietor and editor.

1867, April 11-Col. C. W. Griffith, of Bellefontaine, Ohio, formerly of the Belle- fontaine Republican, becomes a member of the firm.

1867, May 2-Size of the paper increased to eight columns.

1869, May-Colonel Griffith sold his interest to Col. George E. Ross.

1870, August-Colonel Ross withdrew from the firm.

1870, October 20-J. D. Stine sold out to Colonel Ross; D. L. Harbaugh became asso- ciated with Colonel Ross; paper enlarged to nine columns; new press, type and fixtures purchased ; name changed to The London Times.

1870, October 27-Paper first issued under the name of The London Times.

1874, February 4 Colonel Ross became the sole proprietor.

1875, November 3-Peyton H. Acton became a partner of Colonel Ross.

1876, September 6-Paper leased to P. H. Acton and J. M. Klingelsmith; name changed to The London Weekly Times.

1877, January-J. M. Klingelsmith sold his interest to E. I. Acton; paper now issued by the Acton Brothers.

1878, E. I. Acton withdrew, P. H. Acton continuing as owner and editor.

1879, January 10-The London Publishing Company bought the paper.

1879, April 25-D. Mann & Son bought the paper; John D. Maddux became the editor.

1880, September 3-Name of the paper changed back to The London Times; Col. George E. Ross again became sole proprietor ; shortly afterward James F. Kelley became associated with Colonel Ross.

1881, August-W. S. Shepherd purchased the interest of James F. Kelley.

1882, October-J. M. Craig purchased the interest of Colonel Ross; date of publica- tion changed to Friday morning.

1886, February 26-S. M. Prugh and H. N. Blair became the owners of the paper ; George W. Clark became local editor.

1886, November 5-S. M. Prugh sold to A. J. Henitzelman.

1887, April 15-C. D. Bailey, formerly of the Cincinnati Commercial Gazette, bought the paper.

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1887, August 19-William D. Mulford and J. C. Van Harlingen bought the paper from C. D. Bailey.

1887, December 30-A. C. Carson and E. N. Gunsaulus bought the paper from Mul- ford and Van Harlingen.

1800, September 19-A. C. Carson withdrew from the paper, leaving Gunsaulus in sole charge.

1891, July 9-The paper changed to an eight-page sheet; publication day changed from Friday to Thursday.

1892, November 10-The Times moved from the room over Lanigan's grocery to its present offices in the Fulton building on East High street.

1901, January 17-E. N. Gunsaulus sold the paper to the London Times Publishing Company ; C. E. Arbuckle became the managing editor.

1902, February 6-C. E. Arbuckle retired and W. D. Bacome became managing editor. 1903, September 24-M. F. Dunn and W. D. Bacome purchased the Times.

1905, January 5-M. F. Dunn became the sole proprietor.

1905, June 19-H. F. Harrington and R. K. Shaw purchased the paper and conducted it under the firm name of Harrington & Shaw; the sheet was changed to its present size of eight pages and six columns.

1905, July 8Harrington & Shaw bought the Madison County Republican.

1908, February 26-H. F. Harrington retired from the paper and R. K. Shaw became the sole owner and is still in charge of the paper.

THE MADISON COUNTY DEMOCRAT.

The Madison County Democrat is a lineal descendant of the Buckeye Union, which made its first appearance in London on Saturday, February 21, 1857. E. Douglass King established the Buckeye Union and continued it under this name until November 5, 1857, when he changed its name to the National Democrat. On November 12, 1857, the first issue of the paper under the new name appeared; it was a folio, seven columns, eighteen by twenty-four inches in size. On January 7, 1858, John M. Smith bought the paper from King and associated with him as editor D. M. Creighton. Creighton, however, remained with the paper only a short time, retiring on the 28th of the same month. At this time Mr. Smith engaged two practical printers. John A. Kissinger and M. L. Bryan, to take charge of the paper. The subsequent history of the paper has been written by the late M. L. Bryan and, since the paper has been in the hands of the Bryan family since 1858, it appears appropriate to give the remainder of the history of the paper in the words of M. L. Bryan, the father of the present editor, Chester E. Bryan :

"During the month of December, 1857, news reached Columbus that John M. Smith, a prominent merchant and an active and energetic Democrat of London, Madison county, Ohio, wanted some practical printer to come to the town and take charge of a weekly Democratic newspaper he had started with his own means. As an inducement, Smith proposed that to any printer who would run the paper one year he would make a present of the printing material, then consisting of a small Washington hand-press and a few cases of badly-worn type. This proposition reached the ears of two compositors on the Daily Fact, an independent daily paper published by Col. John Geary.

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History of Madison County Ohio: Its People, Industries and Institutions, Part 36

Author: Chester E. Bryan Publication date: 1915 Publisher: Number of Pages: 1207

Author: Chester E. Bryan
Publication date: 1915
Publisher:
Number of Pages: 1207