History of the city of Columbus, capital of Ohio, Volume I, Part 54

Author: Lee, Alfred Emory, 1838-; W. W. Munsell & Co
Publication date: 1892
Publisher: New York and Chicago : Munsell & Co.
Number of Pages: 1202

USA > Ohio > Franklin County > Columbus > History of the city of Columbus, capital of Ohio, Volume I > Part 54

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Among the independent banks established was the City Bank of Columbus, which commeneed business in 1845. William S. Sullivant, Noah H. Swayne, William M. Awl, Samuel McClelland, Orange Johnson, and William A. Platt were the first directors. Joel Buttles was president until his death in 1850, when Robert W. McCoy took his place, and filled it until his death, when William A. Platt became president and served until the bank was closed. Thomas Moodie was cashier during the existence of the bank. He had been cashier of the Mechanics' Savings Institution which was closed at the organization of the City Bank. The capital, 8450,000, was the largest bank capital in the city. The bank was located in the east room of the building at the southeast corner of High and State streets, which was erected and occupied by the Columbus Insurance Company. That Company failing in 1851, the City Bank, which was closely affiliated with it, tried to help it, but, as is very apt to be the result of such friendly efforts, they both

413

BANKS AND BANKING.

went down together. The notes of' the bank were redeemed hy the Treasurer of State, and the creditors were paid in full.

Miller, Donaldson & Company commenced a private banking business in 1834, in the room formerly occupied by the Columbus Insurance Company, whence they removed one door east in 1861. Mr. Donaldson had been in business with C. A. Bain as L. Donaldson & Company, the Citizens' Savings Bank, and C. A. Bain & Company one door further east, during a short time, but Mr. Bain having left the city, Mr. Donaldson, John Miller, and A. II. Greene formed a partnership as Miller, Donaldson & Company, and did a successful business until 1889. Mr. Greene retired in 1857. Mr. Miller died in 1888, and Mr. Donaldson a few months after the close of business.

The banking house of Rickly & Brother was established in 1857 by S. S. Rickly and J. J. Rickly. In 1870 the junior partner retired, and S. S. Rickly con- tinned the business alone nntil 1875, when the Capital City Bank was incorporated with a capital of fifty thousand dollars and W. S. Shrum, J. W. Souder, G. W. Bright, S. S. Rickly and R. R. Rickly, as directors, S. S. Rickly being president and R. R. Rickly cashier. Rickly & Brother occupied at first the building formerly used by the Exchange Bank, but subsequently moved into the room at the south- east corner of High and State streets, where they remained until the formation of the Capital City Bank, which commenced business at its present location in the room formerly used by the Board of Control of the State Bank. While in business alone Mr. S. S. Rickly made an assignment at one time, not because of failure but in order to protect himselfagainst an unjust claim, after the arrangement of which he resumed, having paid all creditors in full.

The writer is indebted to Mr. S. S. Rickly for the following letter, which he wrote to the president of the First National Bank of Denver :

Though a total stranger to you, I desire to condole with you in the loss of money you have sustained on account of a villain, as reported by telegraphie dispatches from your city, and also to congratulate you on your escape with life and limb. Two episodes in my life as a banker will doubtless satisfy yon that you pursued the wisest course under the trying circumstances. Some ten years ago, during the dinner hour, when I was alone in the bank for a few minutes, two men stepped in, one handing me a package of one hundred new one dollar bills. The other, after I had commenced counting the package, requested me to change him a gold piece. This necessitated my going into the vault, and thinking to be back in a moment I unfortunately left the safe open, but on one pretext or another I was kept out of sight of the safe and vault while a third confederate entered by a rear window and succeeded in abstracting some six thousand dollars in currency and some fourteen thousand dollars in government and city coupon bonds. In the mean time the second party, who had been pro- vided, as I learned afterward, with a revolver, and only waited the necessity of using it to accomplish their purposes, left the room and I finished counting the one hundred dollar package and gave the party a draft on New York for it, as he desired when he left the room. One of my clerks coming in, I remembered leaving the safe open, and, upon examination, to my astonishment found the above mentioned property gone. If I had discovered their trick in time, I would doubtless have resisted and my life would have been taken. I have never recovered any of the stolen property except one thousand dollars of our City Hall bonds, which had been pledged to a bank in New York, and from which a friend obtained them by paying fifty cents on the dollar for them.

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HISTORY OF THE CITY OF COLUMBUS.

The next episode was nearly nine years ago, when a fellow about noontime came into the bank and presented a certificate of the trustees of one of our bankrupt coal firms, calling for about one hundred dollars, and said in an imperative manner: "Give me fifty dollars." I looked at the certificate, which was wrapped in an envelope, and saw that several payments had been indorsed on it, leaving but seventy dollars due him. I said to him, calling him by name, for he was a resident of this city, "I do not know what this is worth, and I don't want to take anything from you, if it is worth more than fifty dollars." He said in the same peremp- tory tone as at first : "Give me thirtyfive dollars." I said kindly but firmly to him, " I have not got the money to spare," and as quick as thought he presented a revolver to my forehead and fired. The last I saw was that revolver within an inch of the middle of my fore- head, and in my effort, I presume, to escape the consequences I must have slightly turned my head, for the ball entered my left temple and passed through both eyes, lodging against the right cheekhone. Two thoughts seemed to be passing slowly through my mind ; one was, "is this fatal ?" the other, "shall I fall ?"

My son, who was in the next room and heard the conversation but did not see either of us, says I fell instantly, although it seemed several seconds at least while I felt the excru- ciating pain and the light of day forever passing from me. He aimed at my son who was coming to my assistance but who succeeded in escaping from the room, and going out to the street called for assistance. In the mean time the wouldbe assassin went around behind the counter where I lay, apparently to see if I was dead, and thinking, no doubt, that I was dead, shot himself dead, and never bled a drop or made a stir. The report of that shot brought me to consciousness, and I thought he was shooting at my son, while he and a former clerk who happened along, hearing the report, thought he was still shooting at me, and, taking their lives in their hands, came in to my assistance. They picked me up and laid me on a lounge, and I said to my son, " are you hurt ?" He said no, but that the villain lay there dead. I am still living, but totally blind, and am having this written by an amanuensis. Of course life is sweet, and it is gratifying to possess that which all men aim to get - money and posses- sions - but oh, how much sweeter would be the light of day, at least to me without one dollar or one foot of ground, and you, my dear fellow-banker, may congratulate yourself and yours on your fortunate escape. We now have our windows screened, our counters screened, and I might say we have our conscience screened. The door to my private room is con- stantly locked and no one admitted unless he be known or can identify himself.

The banking house of Hayden, Hutcheson & Company was organized in 1866, with a stock of $75,000. The firm was composed of Peter Hayden, William B. Hayden, and Joseph Hutcheson. Mr. Hutcheson retired in 1871, after which the firm comprised Peter Hayden, Charles H. Hayden, William B. Hayden, and E. K. Stewart, with Mr. Stewart as cashier. Peter Hayden died April 6, 1888, but the firm name and the business of the bank were not thereby changed. The Company began business at Number 13, South High Street, in the rooms formerly occupied by the State Bank of Ohio, but subsequently removed to the present location on East Broad Street.

The banking house of Reinhard & Company began business December 1, 1868, and was composed of Jacob Reinhard, Thomas Miller, Frederick Fieser, and Joseph Falkenbach, with a capital of twenty thousand dollars. Mr. Miller retired in a short time, as did Mr. Falkenbach in 1884, after which the firm comprised Jacob Reinhard and Frederick Fieser. Mr. Fieser died in 1891.

The Fourth National Bank began business in January, 1870, with a capital of $100,000. It was the successor of the Bank of Commerce, which had been estab- lished a short time, W. S. Ide, president.

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BANKS AND BANKING.

Sparrow, Hines & Company began business in January, 1872. Mr. Sparrow retired in a short time, and the firm then became Hines, Taylor & Company, and consisted of O. P. Hines, David Taylor, James M. Walker, and David W. Brooks. From the death of members and change of ownership the firm has changed to D. W. Brooks and.C. P. L. Butler. D. W. Brooks died January 31, 1891, and was succeeded by his son, Herbert Brooks. Mr. Butler died in 1891.

The Deshler Bank was established May 1, 1879, by William G. Deshler, George W. Sinks, and John G. Deshler, Junior, with a capital of $100,000, and G. W. Sinks as president, and John G. Deshler as cashier. It occupies rooms on the northwest corner of High and Broad streets, in a new building on the spot for- merly occupied by the Exchange Bank. On June 15, 1891, the Deshler Bank was reorganized as the Deshler National Bank, and, as the law required in cities such as Columbus, increased its capital to 8200,000. The organization of the bank was not changed, and the business was passed over to the new organization.

In 1879, J. H. Anderson & Company established the People's Deposit Bank on the north side of Broad Street, a few doors east of High. It existed but a short time.

The First National Bank commeneed business December 7, 1863, with a capi- tal of $300,000. P. Ambos, William Monypeny, E. T. Mithoff, W. B. Brooks, and D. A. Randall, were the directors ; P. Ambos being president, and T. P. Gordon cashier. At the death of Mr. Ambos, William Monypeny was elected president. The bank was closed by vote of the stockholders in 1890, and reorganized with the same capital and officers, as the National Bank of Columbus. During its existence as the First National, it did a large and successful business, paying satisfactory dividends on its stock, which it returned to its stockholders with a premium of sixty per cent.

Ide, Bailey & Company did business for a short time, before 1863, when, in company with N. Schlee, they established the Central Bank, with W. E. Ide as president and L. C. Bailey as cashier. In 1867 the firm of Bailey, Thompson & Company (L. C. Bailey and John G. Thompson) carried on business for a brief period. In 1876 Bailey, Thompson & Company, B. E. Smith & Company and W. E. Ide organized as the Central Bank, with W. E. Ide president, and L. C. Bailey cashier. This concern had but a short life, but closed it honorably.

P. W. Huntington & Company commenced business January 1, 1866, at the northwest corner of High and Broad streets. The firm consisted of P. W. Ilunt- ington and D. W. Desbler. Since the death of Mr. Deshler, August 1, 1869, Mr. Huntington has been in business alone in a fine banking house which he erected on the southwest corner of High and Broad Streets. The firm of P. W. Hunting. ton & Company was the successor of the Deshler Savings Bank, which was estab- lished by the same parties, but was closed after a few years' business on account of what was deemed to be unfavorable legislation.

The Citizens Savings Bank was incorporated in July, 1873, with a capital of $100,000. The directors were Henry Miller, John R. Hughes, E. L. Hinman, John Beatty, and A. D. Rogers, John Beatty being president, John Beatty. Junior, sce- retary and F. R. Shinn cashier. It has been successfully managed, and has paid

Theodore to ' Butter

416

HISTORY OF THE CITY OF COLUMBUS.

ont during the first fifteen years of its existence one hundred and sixtyfive thousand dollars in interest on savings deposits.

The Columbus Savings Bank was organized March 7, 1881, with E. L. Hinman as president, J. R. Hughes vice president, B. N. IIuntington treasurer, C. D. Hin- man secretary, and E. L Hinman, J. R. Hughes, B. N. Huntington, John Beatty, Charles G. Henderson, Charles D. Hinman, G. T. Tress and J. F. Oglevee as trustees. Its banking office is in the Park Hotel Building, North High Street.

The Mechanics' and Manufacturers' Bank was established September 5, 1881, by J. W. King and W. D. Park, with a capital of $100,000. At the death of Mr. King, in 1885, George M. Peters was elected president and Howard C. Park cashier. The bank occupies a fine banking house built for the purpose, at the southeast corner of High and Spring streets.

In 1869 Orange Johnson, F. C. Sessions and J. A. Jeffrey established the Com- mercial Bank at the southeast corner of High and Long streets, which did a suc- cessful business until 1881, when the business was turned over to Sessions & Com- pany, who have since done a business as investment bankers with a capital of thirty thousand dollars, dealing in stocks, bonds and mortgages. In 1881 the Commercial National Bank was established with a capital of 8200,000. F. C. Sessions was presi- dent, Benjamin S. Brown vice president, and W. H. Albery cashier. The directors were Benjamin S. Brown, T. Ewing Miller, C. D. Firestone, William G. Dunn, John Joyce, M. McDaniel, Walter Crafts, and W. A. Mahony, since which time D. E. Putnam has succeeded Mr. Dunn, and Jesse W. Dann has replaced Mr. Crafts. Mr. Sessions and Mr. Albery have been in their present positions over twenty years. The bank has done a large and profitable business. At the time of its establishment, the friends of Mr. Albery advised him not to accept a position offered him in it, because its location was thought to be so far from the business of the city that it would get but little custom. At the end of nine years, it is one of the three largest banks in the city, and there are four banks north of it, still further away from what was thought to be the business center.

The South End Bank was established in 1882, with H. Mithoff president, L. Lindeman vice president, and P. W. Corzilius cashier. It was in existence only six years when, by reason of the cashier's default, the directors determined to close it, which was done by an assessment on the stockholders.

The Farmers' and Mechanics' Bank commenced business September 5, 1889, with D. E. Sullivan, Ephraim Sells, J. M. Loren, Charles M. Jaynes, and George J. Atkinson as directors, D. E. Sullivan being president, and Charles M. Jaynes cashier.

The Ohio Savings Bank began business in May, 1888, with a capital of thirty- seven thousand five hundred dollars. John Siebert was its president, Isaac Eberly vice president, and Emil Kiesewetter cashier. The capital stock has since been increased to $52,500.

John F. Bartlit and F. K. Hulburd established a banking house in July, 1850, with a capital of ten thousand dollars. B. E. Smith became a member of the firm in September, 1851, and the firm name was consequently changed to that of Bartlit, Hulburd & Company. Mr. Hulburd retired from the firm in 1883, after

W.B. Hubbard

PHOTOGRAPHED BY BAKER.

Hubbard Homestead, 845 North High Street, built in 1850.

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BANKS AND BANKING.

which the business was conducted by Bartlit & Smith, with a capital of twenty thousand dollars. William Ferson was cashier. The concern did a prosperous business, but Mr. Smith having become largely interested in railways, the financial weakness of which was developed by a commercial crisis, the banking house of Bartlit & Smith was carried down with them. It was accordingly closed in July, 1877, and was unable to pay its creditors in full.

Two young men who had been connected with the business of Bartlit & Smith opened a banking office in the same room under the firm name of Moodie & Ilubbard, but their enterprise was shortlived and not successful. The house of Bartlit & Hulbord had been preceded in the same room by the firm of Preston & Company, which was in existence only a few months. About the same time, in 1851, William A. Neil and William M. Finch opened a private bank which existed only a few months.

The banks of Columbus, both incorporated and private, have been well managed. There have been thirtyfour different organizations, of which sixteen yet continne. Only four have failed, and, of these, two paid their creditors in full.

In 1879, the Columbus Clearing House showed balances amounting to 830,773,800. In 1889 the balances rose to 8131,154,900, the individual deposits to $105,786,000, and the loans and discounts to $19,998,000.

In 1848 Columbus contained only four banks, with an aggregate capital of 8722,925. Their resources were 82,675,000, and their liabilities 82,396,076. There are now in the city twelve incorporated banks and four private ones, with a total capital of $1,518,000.

The following statement, compiled from the reports of the National banks to the Comptroller of the Currency and of the other banks to the County Auditor, for the year 1889, shows the business of the Columbus banking institutions at that time:

RESOURCES.

Loans and discounts,

. $5.378,005

United States and other bonds.

958,883

Checks and cash items,

660,928

Bank notes of other banks,

291,332

Specie, 373,865

Real estate,

140,806

Other available assets,

975,152

Total,

$8,778,971

LIABILITIES.

Capital stock,

. $1,518,000

Surplus and nndivided profits,

458,644

Notes in circulation,

202,000

Individual depositors,

5,788.071

United States deposit,

140,052

Dne other banks,

534,351

Total,

$8,641,118

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HISTORY OF THE CITY OF COLUMBUS.

Deducting capital, surplus and undivided profits, these banks have a net sum of eight and a half millions of resources against a little over six and a half of liabilities.

The improvement of the currency which has taken place during the last fifty years of the period covered by this sketch is one of the most notable facts in the history of banking. As late as 1842 the writer, then a citizen of Warren County, Ohio, collected a note in Utica, Licking County, for the sum of sixty dollars. On receiving the money he perceived that none of it was current in Warren County, but it was the best the debtor could pay. This event was brought back sugges- tively to the writer's mind a few years ago by the casual inspection of a package of the national bank currency of twentyone localities in nineteen different States, every dollar of which was just as valid and just as current in one part of the American Union as in another.

CHAPTER XXVII.

THE PRESS. I.

BY OSMAN C. HOOPER.

[Osman Castle Hooper was born April 10, 1858, near Alexandria, Licking County, Ohio. His father, Richard Hooper, of English birth, was then postmaster and merchant in the vil- lage. His mother, Celestia (Castle) Hooper, was the daughter of Augustns Castle, one of those sturdy Vermont farmers who came in the early part of the century to make their homes in Ohio. Mr. Hooper attended school at Alexandria, at Central College and Columbus, and took a college course at Denison University, Granville, Ohio, graduating there in 1879 with the degree of A. B. He began newspaper work in the spring of 1880 on the Evening Dispatch, with which paper he has been connected in some capacity continnonsly, with the exception of about a year in 1886-7. In the spring of 1887, he became editor and part owner of the Sunday Morning News, a relationship which he still maintains.]

Churches and newspapers were among the first outgrowths of that civilization which, in the latter part of the eighteenth century, came westward and laid claim to the Northwest Territory. The first settlement in Ohio was made at Marietta by the Ohio Company, April 7, 1787. The first church on Ohio soil was erected at Columbia, five miles above Cincinnati, in 1790, and the first newspaper in the territory now the State of Ohio, was established at Cincinnati by William Maxwell, November 9, 1793, under the name of the Sentinel of the Northwest Territory. The white population within the present State boundaries was, in 1790, about 3,000, the population of Cincinnati at the time of the beginning of Mr. Maxwell's venture being between 700 and 800. Chillicothe was laid out in 1796, and in 1800 the Scioto Gazette was founded by Nathaniel Willis and has existed ever since in various measures of prosperity and power. Similarly in other settlements, the newspaper came early as an essential exponent of the thought that was thon mov. ing these sturdy pioneers. It served, too, an educational purpose, and played no small part in directing the energies of the people even before the days of state- hood.

In 1803, Ohio was admitted to the Union as a State. Seven years later, there were fourteen newspapers published within its borders. Of these the principal ones were : The Scioto Gazette and the Supporter, both Federalist organs, published at Chillicothe; the Fredonian and the Independent Republican, both organs of the then Republican (now Democratic) party, also published at Chillicotho; the Whig and the Liberty Ifall, both of Cincinnati ; the Ohio Gazette and the Commentator,

[419]

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HISTORY OF THE CITY OF COLUMBUS.

both of Marietta ; the Ohio Patriot, of New Lisbon, and the Western Herald, of Steubenville. Papers were also published at Zanesville, St. Clairsville and Lebanon.

As settlement and civilization progressed, the list of newspapers grew. Some of the earliest born served their purpose and died or passed out of existence for other reasons. But others came to fill the vacant places and to supply new wants, and there was continually a net gain in the number of papers. From the Columbus Gazette, now the Ohio State Journal, the following interesting table is taken :

LIST OF NEWSPAPERS PUBLISHED IN OHIO IN 1821.

Cleveland Herald : .

C. Willes & Co.

Cleveland.

Western Reserve Chronicle

Hapgood & Thompson Warren.

Ohio Patriot

William D. Lepper

New Lisbon.

Ohio Repository

John Saxton . Canton.

Ohio Spectator

J. Clingam & Co.

Wooster.

American Standard

Charles Colerick

Mt Vernon.

Delaware Gazette

Jacob Drake

Delaware.

Franklin Chronicle

Griswold & Spencer

Worthington.

Columbus Gazette

. P. H. Olmsted

Columbus.

Ohio Monitor

David Smith

Columbus.

Olive Branchı

William B. Thrall

Circleville.

Ohio Eagle (English)

John Hermann

Lancaster. 66

Ohio Eagle (German)

Newark Advocate

B. Briggs .

Newark.

Muskingum Messenger and Democratic Republican . E. T. Cox

Zanesville.

Express & Public Advertiser

O'Harra & Barrett

Tuscarawas Chronicle

James Patrick

New Philadelphia.

Harrison Telegraph

Joseph Tingley

Cadiz.

Western Herald and Steubenville Gazette

James Wilson

Steubenville.

Pleasant,

The Philanthropist (4to)

Elisha Bates

Mt. Vernon.

American Friend

Royal Prentiss

Marietta.

Belmont Journal

A. Armstrong

St. Clairsville.

Scioto Gazette & Supporter

George Nashee

Chillicothe.

Weekly Recorder (4to)

John Andrews

Hillsborough Gazette and Highland

Advertiser

. Moses Carothers

Hillsborough.

Political Censor

James Finley

West Union.

Scioto Telegraph and Lawrence Gazette C. Hopkins

. Portsmouth.

The Benefactor

London, Butt & Co.

Levanna.

Farmers' Friend

William A. Camron

Williamsburg,

Liberty Hall and Cincinnati Gazette Western Spy and Weekly Advertiser The Inquisitor

J. M. Mason

The Volunteer

T. L. Murray

Hamilton.

Eaton Weekly Register

Samuel Tizard .

Eaton.

Ohio Watchman

Robert J. Skinner

Dayton.

Western Star . A. Van Vleet

Lebanon.

Ohio Interior Gazette

Kendall & Denny

Xenia.

Farmers' Advocate

Morgan, Lodge & Co

Cincinnati.

Looker, Palmer & Reynolds

S. H. Rodgers

Springfield,

THE PRESS. I

121

SUNDAY EVENING, JANUARY 24

IMPORTANT ..

Extract of a letter from Gen. Harrison, to Gov. Meigs, dated Head Quarters of the North Western Army, Rapids of the Miami, January 20,1813.

I have the pleasure to inform you that the de- tachment under col Lewis was completely suc- cessful in its attack upon the part of the cnemy at the river Rezin-their force then consisting of some hundreds of Indians and a company of mi- litia which were placed behind pickets, were at. tacked by our troops about 3o'clock on the 18th inst. The action lasted until night, when the enemy were completely routed. The Indians suffered considerably- their allies ran off with a piece of artillery in the commencement of the action --- our loss is about ten killed and two cap- tains and 20 privates wounded. Gen. Winches- ter marched yesterday with 250 men to take the command at the river Rezin-He will have about 1000 effectives, and I am this moment des- patching five companies more of Gen. Perkin brigadc:

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History of the city of Columbus, capital of Ohio, Volume I, Part 54

Author: Lee, Alfred Emory, 1838-; W. W. Munsell & Co Publication date: 1892 Publisher: New York and Chicago : Munsell & Co. Number of Pages: 1202

Author: Lee, Alfred Emory, 1838-; W. W. Munsell & Co
Publication date: 1892
Publisher: New York and Chicago : Munsell & Co.
Number of Pages: 1202