USA > Wisconsin > Marathon County > History of Marathon County, Wisconsin and representative citizens > Part 35
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).
Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | Part 16 | Part 17 | Part 18 | Part 19 | Part 20 | Part 21 | Part 22 | Part 23 | Part 24 | Part 25 | Part 26 | Part 27 | Part 28 | Part 29 | Part 30 | Part 31 | Part 32 | Part 33 | Part 34 | Part 35 | Part 36 | Part 37 | Part 38 | Part 39 | Part 40 | Part 41 | Part 42 | Part 43 | Part 44 | Part 45 | Part 46 | Part 47 | Part 48 | Part 49 | Part 50 | Part 51 | Part 52 | Part 53 | Part 54 | Part 55 | Part 56 | Part 57 | Part 58 | Part 59 | Part 60 | Part 61 | Part 62 | Part 63 | Part 64 | Part 65 | Part 66 | Part 67 | Part 68 | Part 69 | Part 70 | Part 71 | Part 72 | Part 73 | Part 74 | Part 75 | Part 76 | Part 77 | Part 78 | Part 79 | Part 80 | Part 81 | Part 82 | Part 83 | Part 84 | Part 85 | Part 86 | Part 87 | Part 88 | Part 89
THE EVANGELIST LUTHERAN TRINITY CONGREGATION.
This congregation was founded by those members of the Evangelical Lutheran Zion congregation who lived on the west side of the Wisconsin river in the summer of 1908. A church was built with a parochial school in the basement at a cost of $19.750. Rev. J. T. Destinon of Gleason, Wis- consin, accepted the call as minister, and Prof. E. Ritzmann as teacher of the school. Both were installed on November 1, 1908, the day the church was dedicated. Two years later Professor Ritzmann went to Milwaukee, and Prof. A. T. Landsmann took his place. A second teacher was deemed neces-
366
HISTORY OF MARATHON COUNTY
sary, and on the 2d of September, 1912, Prof. W. Meyer took charge of the lower grades.
The congregation has enjoyed a steady and healthy growth. The charter members numbered 97, while now the lists show 175 families. In 1912 they built a beautiful parsonage at a cost of $3,725.
GERMAN METHODIST EPISCOPAL CHURCH.
Different preachers held services in private homes during the years of 1870-74. Rev. A. H. Kopplin was the first pastor holding meetings at a regular time. He lived in the town of Main. Under his successful leader- ship it was decided to buy a suitable building lot and to build a church. A suitable location was found, being the corner of Jefferson and Sixth streets (southeast corner). The church was built in 1874, a very modest building, 24 x 34 feet, the building committee being Rev. A. H. Kopplin, Aug. Wilde, Ferdinand Boernke. First trustees of the organized society were Aug. Wilde, Charles Wilde, John Nass, and F. Lemke. The first parsonage was built in 1881, during the pastorate of Rev. John Beinert, who resided in the town of Main. Rev. Gustav Magdsick was the first German Methodist Episcopal church pastor who resided here in the city of Wausau, having been sent here in the fall of 1881. Services were held regularly in the city of Wausau, town of Wausau, and town of Texas. The present church edifice was erected in 1900, Rev. H. F. Mueller being the pastor from 1897 to 1902. The present parsonage, a modern and commodious dwelling, was built in 1906, during the pastorate of Rev. A. M. Wieting. The present membership is one hundred and forty (counting individual members, not by families).
List of German Methodist pastors to the congregation of Wausau: Rev. A. H. Kopplin, 1871-74; Rev. Aug. Karnopp, 1874-75; Rev. George Killing, 1875-77; Rev. Ferd. Karnopp. 1877-80: Rev. John Beinert, 1881 ; Rev. G. Magdsick, 1881-82. first pastor residing in Wausau, followed by Rev. M. Entzminger, 1882-83 : Rev. A. C. Berg, 1883-85 ; Rev. H. F. Schmidt, 1885-88; Rev. E. Werner, 1888-89: Rev. John Beinert, 1889-91; Rev. R. Dresher, 1891-93; Rev. A. Held. 1893-97: Rev. H. F. Mueller, 1897-1902; Rev. A. M. Wieting, 1902-08; Rev. G. H. Elske, 1908-12; Rev. J. L. Menz- ner, 1912.
EVANGELICAL LUTHERAN SALEMS CONGREGATION.
The Evangelical Lutheran Salems congregation was organized by Rev. Johannes Karrer on the 28th day of September, 1908, with eighteen
367
AND REPRESENTATIVE CITIZENS
charter members. The church was built in the same year and dedicated De- cember 20, 1908. The congregation is a member of the Evangelical Lutheran Synod of Wisconsin and other states. It enjoyed a rapid growth and at present has over one hundred families constituting the congregation. It conducts a parochial school, and owns also its parsonage building. The property at a fair valuation is $10,000. It is situated on Bridge street, on the north side of the city.
THE Y. M. C. A.
The above initials are so well understood that they need no explanation for their meaning. The association was established in Wausau in December, 1891. Its first officers and directors were: C. J. Winton, president; C. B. Bird, vice-president; Henry Smith, secretary; C. S. Gilbert, treasurer; and A. H. Clark, F. M. James, A. H. Grout, F. J. Tyrrel and W. W. Wilson, trustees. The first general secretary, F. D. Hopkins, was engaged in the spring of 1893. He served the association until August, 1896, when he removed to Racine, Wisconsin, and in September, 1896, Neal Campbell of Sheboygan was secured to succeed him. The first permanent home for the association was built in the summer of 1893, at the corner of Scott and Fourth streets, at a cost of $10,000. Here for fifteen years, twelve of which under the management of Mr. Campbell, the association pursued its far- reaching work among the men and boys of Wausau.
With the growth of the city there was a gradual stronger demand for a larger building and better equipment, until in January, 1908, the efforts of ยท the men interested in the upbuilding of the society bore fruit in the mag- nificent building on Third and Grant streets, the present home of the asso- ciation, at a cost of not less than seventy-five thousand dollars. The men who had direct charge of raising the fund for this new building were Lamar Sexsmith, chairman: C. J. Winton, H. G. Flieth, G. D. Jones, WV. H. Bissell, C. E. Turner and C. B. Bird. Mr. Campbell remained the general secretary continuously from 1896 until the summer of 1912, when he resigned and was succeeded by C. F. Ogden of La Crosse, with C. E. Middleton as physical director, and F. W. Brandenburger as boys' work director.
The present officers and board (February, 1913) are: S. B. Tobey, presi- dent; P. F. Stone, vice-president; A. A. Hoeper, secretary ; C. E. Parker, treasurer, and Charles Zahn, F. M. James, H. G. Flieth, W. C. Landon, James Montgomery, A. H. Clark, C. B. Bird, M. B. Rosenberry, C. S. Gilbert, C. G. Krueger, and Lamar Sexsmith, trustees.
CHAPTER XXII.
Financial Institutions: The First National Bank-The Marathon County Bank-National American Bank-Citizens State Bank-Wisconsin Val- ley Trust Company-Marathon County Building-Loan & Investment Co. --- The Great Northern Life Insurance Company --- Employers' Mutual Liability Insurance Company of Il'isconsin.
THE FIRST NATIONAL BANK OF WAUSAU.
This bank succeeded to the old, well established bank of Silverthorn & Plumer, which last named firm did a brokerage business in Wausau as early as 1866 and started out as a regular bank of deposit and discount in 1869, and under the firm name of Silverthorn & Plumer carried on the banking business until 1882, when the growth of its business made it desirable to take out a charter as a national bank. It was organized as a national bank in December, 1882, the capital increased to $50,000, which was eagerly taken by Wausau business men. The business of the bank kept growth with the growth of Wausau and Marathon county, and as a consequence the capital stock had to be increased several times; its stock was quickly subscribed each time it was offered to the public, and the continued success and the growth of the bank is the best evidence of careful, upright business man- agement. The capital was increased in 1884 to $100,000; in 1903, to $150,- 000; in 1905, to $200,000; in 1912, to $350,000.
Capital and Surplus
Deposits
Resources
March 13, 1883. $ 50,000 $ 161,693.12
$ 239.214.06
March 13, 1893. 123.000
712,496.91 863,696.90
November 26, 1912 500,000
1,609,202:03
2,339.894.73
The following is the bank statement at the close of the business of Novem- ber 26, 1912:
368
.
AND REPRESENTATIVE CITIZENS
369
RESOURCES.
Loans and discounts. . . $1,623,515.28
United States bonds .. 200,000.00
Municipal bonds and securities 28,000.00
Real estate and fixtures 82,070.00
Due from United States
treasury 10,000.00
Cash . and due from
banks 396,309.45
$2,339.894.73
Liabilities.
Capital stock $ 350,000.00 Dividends unpaid 15.00
Surplus and profits . 180,000.00
Deposits 1,609,202.03
Circulation
200,000.00
$2.339,894.73
Officers : D. L. Plumer, president ; John Ringle, vice-president; C. S. Curtis, vice-president; A. H. Grout, cashier ; C. G. Krueger, assistant treas- urer; directors : D. L. Plumer, John Ringle, C. S. Curtis, Jacob Gensman, G. D. Jones, F. P. Stone, C. E. Turner, E. B. Thayer, J. N. Manson.
THE MARATHON COUNTY BANK.
This bank was organized under the present name on December 7, 1874, and opened for business January 1, 1875. It succeeded to the banking busi- ness of J. A. Farnham, who came to Wausau in the early fifties, and in a few years carried on a private banking business under firm name of "The Bank of the Interior" until it merged in the Marathon County Bank in 1874. The Marathon County started out with a capital of $25,000 in the bank building, a solid brick erected by J. A. Farnham for the use of the bank, the first solid brick building in Wausau, which was torn down when the present banking house was erected in its place in 1892. Only after nine years, on January 6, 1883, the Marathon County Bank increased its capital to $60,000, then ten years later in 1903, to $75,000, and on June 11, 1912, to $100,000.
As in the other banks, the capital stock is in its great majority held by Wausau people, as indicated by the officers of the bank.
The following is a copy of the bank statement of this bank at the close of the business January 25, 1913:
370
HISTORY OF MARATHON COUNTY
Resources.
Liabilities.
Loans and discounts $489,440.85
Capital stock $100,000.00
Bonds and stocks. 61,950.00
Surplus 50,000.00
Overdrafts 1,789.05
Undivided profits 7,788.06
Bank buildings and fix-
Certified checks
557.00
tures
30,000.00
Unpaid dividends
900.00
Cash and due from banks 142,520.71
Due to bank's deposits. . .
749.83
Deposits 565,705.72
$725.700.61
$725.700.61
Officers of the bank: Walter Alexander, president; Charles W. Harger, vice-president ; E. C. Zimmermann, cashier; Walter Alexander, Charles W. Harger, William B. Scholfield, B. F. Wilson, E. C. Zimmermann, directors.
THE NATIONAL GERMAN AMERICAN BANK.
This bank commenced business as a state bank under the name of Ger- man American Savings Bank in the year 1890 with a capital of $75,000. It organized as a national bank in 1892, increasing its capital to $100,000. In 1903 it increased its capital to $200,000 and on the Ist of April, 1912, it increased its capital to $300,000, and at each time the stock was eagerly sub- scribed and taken up by Wausau people. It has at the present time a sur- plus of $130,000 and undivided profits in the sum of $17,000. The growth of the business of the bank is best illustrated by the statements of the years following the organization, to wit:
Date.
Capital.
Surplus and undi- vided profits.
Loans and Discounts.
Jan. 1, 1893.
$100,000.00
$ 3,568.99
$ 220,264.88
Jan. 1, 1898.
100,000.00
14,472.29
328,427.68
Jan. 1, 1903.
100,000.00
42,060.7I
851,662.48
Jan. 1, 1908.
200,000.00
100,231.71
1,294,105.18
Jan. 1, 1913
300,000.00
147,563.59
1.726,247.69
Deposits.
Cash.
$ 205,756.83
$ 79,477.99
353.097.71
1 19,426.53
1, 136.447.69
250,398.57
1,434,395.26
282,819.63
1,905,011.44
488.567.79
Report to the comptroller of the currency at close of business December 5, 19II :
Resources.
Loans and discounts $1,545.018.29
United States bonds, "par value" 201,000.00
371
AND REPRESENTATIVE CITIZENS
Other bonds, "par value".
71,700.00
Premium on United States bonds 0,000.00
Overdrafts
5,834,82
Banking house and fixtures.
55,912.50
Cash Resources.
Due from United States treasury. . . $ 10,000,00
Cash in vault and due from banks .. 345,341.12
355,341.12
Total
$2,234,806.73
Liabilities.
Capital stock
$ 200,000.00
Surplus
100,000.00
Undivided profits
59,229.50
Circulation
200,000.00
Deposits
1,675,577.23
Total
$2,234,806.73
The officers of the bank are: Benjamin Heinemann, president; Walter Alexander, vice-president ; C. S. Gilbert, vice-president; board of directors : Walter Alexander, W. H. Bissell, Herman G. Flieth, Charles S. Gilbert, Benjamin Heinemann, D. J. Murray, John D. Ross, C. J. Winton, Cyrus C. Yawkey.
THE CITIZENS STATE BANK.
The Citizens State Bank was organized in October, 1907, and com- menced business October 28, 1907, with a capital of $50,000, all paid up.
It is the youngest bank in Wausau, prosperous and by reason of its loca- tion on the west side of the river is very convenient for the people on that side living somewhat remote from the old established banks,
At the close of the business on November 26, 1912, the bank statement is as follows:
372
HISTORY OF MARATHON COUNTY
Resources.
Liabilities.
Loans and discounts . $272,912.76
Capital stock $ 50,000.00
Overdrafts
694.34
Surplus
3,500.00
Banking house and fix-
Undivided profits
7,767.17
tures
17,576.00
Deposits 297,674.12
Cash and due from banks 67.758.19
$358,941.29
$358,941.29
Officers and directors : President, S. M. Quaw; vice-president, C. A. Bar- wig; cashier, W. E. Hudtloff ; directors, A. H. Clark, Anton Mehl, G. A. Oswald, Fred. W. Genrich, August Marquardt, Henry Ruder, C. J. L. Zahn.
WISCONSIN VALLEY TRUST COMPANY.
This company was organized in 1906 by Messrs. A. L. Kreutzer, C. B. Bird, and M. B. Rosenberry, who for fifteen years before that had been prac- ticing lawyers, and as such had practical experience in the making of loans and investment of money for their clients in this county.
The trust company plan of handling investments, closing up estates, man- aging guardianships, and all matters requiring the services of a trustee, is the established and approved method for doing those things. Most investors do not have enough money so that they can devote all of their time to invest- ing it, therefore they do not have the knowledge or experience in such mat- ters. Naturally they cannot perform the high character of work required in such instances, with the proper skill and experience necessary to get the best results.
Then there are a large and continually increasing number of cases where parties desire to deposit money or make investments upon some trust, i. e., upon an arrangement by which the money is to be paid or the property man- aged according to certain fixed ideas of the owner. For example: He may wish to set aside a certain sum of money and have the income from it, or if it be property, have it managed and the rents and profits paid at stated inter- vals to the children or other relatives, providing for the payment of the principal to them in installments as they increase in age and business expe- rience, thereby avoiding the danger which so often results from heirs receiv- ing the whole heritage at once and being inexperienced, soon losing it by unwise investment or unsafe business management. For all such purposes trust companies are organized. It has become the established manner of
373
AND REPRESENTATIVE CITIZENS
doing business. To fill the demand for such an institution in Wausau, the above individuals-who in their law practice had been doing just such things -organized the Wisconsin Valley Trust Company.
The company was incorporated in 1906 with a capital stock of $50,000. Subsequently Mr. John J. Okoneski, who became a partner in said law firm, and Mr. Otto G. Fehlhaber, formerly cashier of the Bank of Edgar, and before that clerk in the United States land office, became members, and these five constitute the board of directors. Mr. Kreutzer is president of the company and Mr. Fehlhaber its cashier.
In September, 1907, they commenced the erection of their fine office build- ing at the corner of Fourth and Scott streets, now occupied by the company ; the growing needs of which will require that more and more of the space in this building will be used from year to year for the needs of the com- pany.
The laws of Wisconsin require such companies to deposit 50 per cent of its capital stock in cash, bonds, or securities with the state treasurer as a pledge of security to their customers, and also create a double liability on the stockholders and require the reserve, periodical examination and all other limitations imposed upon banks. In addition to this, trust companies are not permitted to receive deposits upon demand, but only upon time, and are also required to invest their funds only in real estate mortgages or loans where approved collateral is deposited as security. In both cases, the loan must not be more than 60 per cent of the value of the land or security. These well known safety requirements, together with the established business reputation for ability and integrity of the members, explain the success which this com- pany has had in the conduct of its business, and the rapid growth which it has enjoyed.
The last monthly statement of the company shows the amount of its loans to be $391,637.54, its deposits to be $422,535.60, and its capital, surplus and undivided profits to be $73,417.71. This institution is filling a large place in the community and has become one of the established financial institutions in this county.
While its stockholders are themselves lawyers, yet they abstain scrupu- lously from using the company as a means of diverting law business from others to themselves. They realize that most persons have their own choice of what lawyers they wish to employ, and in the management of all estates and trust affairs, they always employ to do the legal work, such lawyers as their customers wish to handle the matter. All of the lawyers of the county are fast finding it to their advantage when they have estates to be closed up,
374
HISTORY OF MARATHON COUNTY
or other matters within the province of that company to handle, to have the company appointed executor of the state or trustee, knowing that the matter can be better handled and will be more efficiently and economically done than is business where the executor or trustee must be an individual, little expe- rienced in such matters.
MARATHON COUNTY BUILDING-LOAN AND INVESTMENT COMPANY.
This corporation is doing business under the laws of the state of Wis- consin, mainly as a building and loan association. It was incorporated on January 29, 1902, and commenced business March 1, 1902. The business of the corporation is to loan or advance money to people desirous of building themselves a home, at a low rate of interest and on easy terms, giving from five to ten years in which to pay, although the borrower has the choice to pay at any time sooner if he wishes, and payments are to be made in small monthly installments. Small payments can be made from earnings of a workman much easier than a large payment once or twice a year, and such small pay- ments instill the desire of the borrower to save his means and foster the spirit of economy so essential for a man of small income.
Many of the workmen of Wausau have availed themselves of the advan- tages offered by this corporation. When a person owns his building lot in the city and wants to borrow the money to build himself a home thereon instead of living in rent, this corporation will advance him the money at a low rate of interest, upon condition that the money loaned be used in the building, and no other purpose, the intention being that the money thus obtained should be used for the improvement of the property. Since the organization of this company, hundreds of workmen's houses have been built in that way and paid for, and many workmen and their families enjoy now the comforts of a home of their own, which they would not have acquired otherwise.
This institution has become very popular and its loans are sought for not only by workmen, but also by professional people and business men of smaller means, who wish to build, but do not want to withdraw the necessary capital at once from their business.
The interest charged averages about 41/2 per cent after all payments are made. The attorney for the corporation is Neal Brown, whose work consists mainly in examining the abstracts to see that the applicant for a loan has good title to his real estate, which examination is made at the cost of the corporation.
375
AND REPRESENTATIVE CITIZENS
The securities held are mortgages for loans made, in the amount of $163,- 275, all of which is the unpaid balance of advances on small residences. Its first board of directors were: Walter Alexander, H. G. Flieth, Anton Mehl, P. F. Stone, Walter E. Curtis, F. A. Hecker, Charles J. Zahn, John F. La- mont, R. Goodrich, G. D. Jones, and I. A. La Certe. A. A. Bock is secretary ; his office is located in the center of the business portion of the city, which is an important point considering the many monthly calls that have to be made at his office in paying the monthly installments.
THE GREAT NORTHERN LIFE INSURANCE COMPANY.
This company was incorporated May 7, 1909, with a capital stock of $200,000. The initiative for the organization of the company was taken by Wausau citizens which accounts for the fact that all its officers and managers are resident Wausau citizens. Every policy is guaranteed by the capital of the company, the legal reserve and surplus. The annual premium income of the company is now in excess of $100,000 a year and the insurance in force exceeds the sum of three million dollars. The reserve held by the company on outstanding contracts amounts to $104,240.28. The assets of the company amount to $357,692.98. It has a surplus in excess of its capital and all other liabilities of $44,535.81. The territory in which the company is doing busi- ness is Wisconsin and Michigan, and this will be extended in the very near future to Minnesota.
The company offers a definite amount of life insurance at a fixed price and guarantees every dollar of insurance value that the premium payments can safely provide. There are no estimates, no promises of dividends, and no alluring inducements. The actual dividend received in this company is the difference in the premium paid for insurance in the Great Northern Life and what would be paid in another company furnishing estimates of dividend profits in the future. The policies of the Great Northern Life are simple, easily understood agreements to pay the face of the policy in the event of death, or if an endowment, to the insured, when the time for such payment arrives. The provisions and conditions of the policy are few in number and are plainly stated in language which cannot be misconstrued. The values are clearly stated in figures, and are as liberal as safety and cost will permit.
If a loan is wanted or the policy surrendered for cash value, or an exchange wanted for a paid-up policy, or insurance allowed to continue without fur- ther premium payments as extended insurance, all the figures are definitely
376
HISTORY OF MARATHON COUNTY
and clearly stated in the policy. The policy is plain, easily understood, so that everyone who reads it knows what he is to expect.
There is no forfeiture, no contest, no law suit. The policy is incontestable -it is controlled by the person, and he can change the premium payments at any time to meet his convenience.
When one has a policy in the company he carries life insurance that insures, without frills and without impossible promises.
The one and only uncertainty if one carries a policy in this company is : When will he die? But for this one has the certainty that whenever one does die, his policy will be promptly paid in full to the beneficiary.
The company offers a real life insurance at the lowest possible cost.
No life insurance company can do more.
Management.
Officers and directors: President. Hon. Neal Brown; vice-presidents, C. C. Yawkey, W. H. Mylrea, William A. Fricke; secretary, B. F. Wilson; treasurer, C. S. Gilbert ; assistant secretary, John A. Sullivan; assistant treas- urer, H. G. Flieth ; medical director. A. B. Rosenberry, M. D .; general counsel, Neal Brown; general manager, William A. Fricke.
Executive committee : Walter Alexander, C. C. Yawkey, B. Heinemann, Neal Brown, G. D. Jones, C. S. Curtis, Charles S. Gilbert, B. F. Wilson, W. H. Mylrea, William A. Fricke.
Every one of the directors is a well known, financially responsible business man of Northern Wisconsin.
EMPLOYERS' MUTUAL LIABILITY INSURANCE COMPANY OF WISCONSIN.
The workingmen's compensation act in Wisconsin is known as chapter 50 of the laws of 1911, going into effect September 1, 1911. It was enacted for the purpose of preventing or reducing the causes of dependency or pov- erty caused by accidents, death or physical injury to workmen engaged in industrial pursuits, which under modern factory conditions with their large numbers of men, working with powerful and complicated machinery and engines, are unavoidable. In enacting this law, the state of Wisconsin and other states were following the states of Europe which had enacted similar laws years before they were enacted in this country. The rule of liability of master and servant as applied a hundred years ago had often worked hardship and injustice under present conditions, but the courts felt it was their duty to
377
AND REPRESENTATIVE CITIZENS
adhere to the existing rule until they were changed by statute, which was effectually done by the act above referred to. By this law the liability of employers towards their employes was greatly enlarged, and in order to pro- tect themselves from great individual losses the employers must combine so as to divide the losses, and at the same time enable them to charge up the insurance as part of the cost of the running expense of the mill or factory.
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.