The history of Fond du Lac County, Wisconsin, Part 96

Author:
Publication date: 1880
Publisher: Chicago, Western historical company
Number of Pages: 1082

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The Bank of Fond du Lac failed in 1857, and T. W. Dee was appointed Assignee. The stockholders lost heavily by its failure. Depositors lost but little by the failure. The firm of McRae, Bell & Butler had banks at Racine, Janesville and other places in the State.

Robert A. Baker's Bank .- In 1854, Robert A. Baker and John Sewell, Sr., began the business of banking in a wooden building which stood on the site of the present bank building, and which now stands on the corner of Johnson and Marquette streets, as a dwelling-house. In a short time Mr. Sewell withdrew from the firm, and Mr. Baker continued the business alone until June 26, 1858, when the Farmers and Mechanics' Bank was organized under the State law of 1852, as a bank of issue, with $25,000 capital stock. Of this Robert A. Baker owned 212 shares ; Rev. George B. Eastman, 37 shares, and W. J. Hamilton, 1 share. The first officers were. S. B. Amory, President, and R. A. Baker, Cashier, who continued in the same offices until the bank went out of existence, in January, 1867. Since that date Robert A. Baker has been sole proprietor of the business, under the title of Baker's Bank. John S. Bur- rows, who has been connected with this bank during twenty-two years, is cashier. and Robert C., son of Robert A. Baker, is teller.

The bank carries on a general banking business, except to receive savings on interest and deal in foreign exchange. It is located in a solid brick building erected at the head of Forest street, in 1860, especially for banking purposes, and occupied September 1 of that year. The building was erected for Mr. Baker by John Waller and Robert Wyatt.

The First National Bank .- The foundation of the present First National Bank of Fond du Lac was the old Bank of the Northwest, which was organized in December, 1854, and opened for business January 1, 1855. It was organized under the State law of 1852, and was a bank of issue with a capital stock of $25,000, which was soon after, owing to the success of the insti- tution, increased to fifty thousand. The first officers of the Bank of the Northwest were B. F. Moore, President, and A. G. Ruggles, Cashier. The principal stockholders who lived at Fond du Lac were B. F. Moore, A. G. Ruggles and Edward Pier, the other stockholders residing in the East. The bank was opened in a concrete building, located on West First street, in the rear of where A. Il. Hall's millinery store now stands. A more central location was desirable, and the bank was soon after moved into John B. Wilbor's building on Main street, now occupied by John Haberkorn's clothing store. The next move was into a wooden building crected by John Sewell, which stood on the site of the present bank building, corner of Forest and Main streets, and which is now the First National Hotel, owned by M. Van Dresar, and located on the corner of Fourth and Marr streets. The fine three-story structure, with basement, now occupied by the First National Bank, was built by the bank, and completed and occupied in October, 1873. Its cost was $27,000, exclusive of the site, which the corporation also owns.

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HISTORY OF FOND DU LAC COUNTY.

It is of the best brick and stone, and one of the handsomest, as it is one of the most substantial, buildings in the city. The basement is occupied by W. E. Cole's bank ; the first story by the First National Bank, with private offices, handsomely furnished, for the President and cashier ; the second story by the offices of the Sheboygan & Fond du Lac Railway Company, the law offices of Hauser & Thomas and Colman, Carter & Kent, and by Drs. Wiley & McNeel, and the third story is the splendid Masonic Hall, in use by Darling Chapter and all the other Masonic Lodges of Fond du Lac.

The second President of the Bank of the Northwest was Edward Pier, and the third Presi- dent, A. G. Ruggles, at which time J. B. Perry was cashier.

December 12, 1864, the bank was re-organized under the National Banking Act. The capital stock was $75,000; Edward Pier was President; A. G. Ruggles, Cashier, and J. B. Perry, Assistant Cashier. In July, 1865, the capital stock of the institution was increased to $100,000, which is the present amount, and which cannot be purchased at any ordinary figure. In January, 1866, Edward Pier was re-elected President; A. G. Ruggles, Vice President, and James B. Perry, Cashier. The next President was A. G. Ruggles. The present Directors are A. G. Ruggles, John H. Martin, Orin Hatch, H. D. Hitt (of Oakfield) and J. B. Perry. The officers are: President, Augustus G. Ruggles ; Cashier. James B. Perry ; Teller, Henry C. Moore ; Book-keeper, George L. Arnold ; Correspondent, J. C. Perry ; Messenger, Joseph D. Radford.

The First National Bank is the leading bank of Fond du Lac County in the amount of capital and business transacted, except in one or two special departments. It does all the busi- ness transacted by any bank, except to loan money on bond and mortgage, pay interest on deposits, and buy and sell foreign exchange. It receives deposits, but pays no interest on themn. Its rate of discount on loans is 8 per cent, although the law allows, and almost all other national banks charge, 10 per cent. The Government requires of this bank, as it does of all national banks, that a sworn statement of its affairs be published quarterly, which is done, the report appearing in the Fond du Lac Commonwealth. The special agents of the Treasury Department have access to all books and papers of all national banks at all times, without notice, and all their affairs are completely under Government espionage, being examined at least once in each quarter. Last year, 1878. the taxes paid by the First National Bank amounted to $3,000, as the capital stock was assessed at its full face value by the local assessors, in addition to the tax imposed by the Government. Its record in all respects is second to no bank in the State.

German American Savings Bank .- In the fall of 1866, Rudolph Ebert and J. C. Perry established a private bank, which was managed by them as such until September, 1873, when it was re-organized under the State law as a savings bank, under the name and style of the Ger- man American Savings Bank, with a paid-up capital of $25,000.

The first officers were R. Ebert, President, and J. C. Perry, Cashier. the former holding the same position still. The stockholders are Rudolph Ebert. Louis Muenter, Frederick Ruep- ing, Louis Rueping, Alexander McDonald, J. C. Perry and Franz Lauenstein. Of these, R. Ebert, President ; Alexander McDonald, Vice President ; Louis Muenter, Cashier ; Frederick Rueping and Franz Lauenstein constitute the Board of Directors.

The institution carries on a general banking business, buys and sells foreign exchange, receives money on deposit and pays interest thereon ; and has the agency for three ocean steam- ship lines. The bank has a large business. The bank building, which is a substantial brick structure built expressly for the business, is located in Main street, near the Serwe House.

The Savings Bank of Fond du Lac .- This was first organized by State charter March 28. 1867, with Elihu L. Phillips, Edward Pier, Edwin H. Galloway, Augustus G. Ruggles, George W. Weikert, Joseph Wagner, George F. Wheeler, James B. Perry, Edward Colman, James Coleman and Orin Hatch, as holders of the capital stock subscribed, and which was placed within the limits of $50,000 minimum and $500,000 maximum. The original corporate name was "Fond du Lac County Savings Institution," which was changed in 1874 to " The Savings Bank of Fond du Lac," which name it still retains.

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HISTORY OF FOND DU LAC COUNTY.

E. L. Phillips was the first President of the Board of Directors, then composed, in addition to himself, of Edward Pier, A. G. Ruggles, Edwin H. Galloway, George W. Weikert, Joseph Wagner and George F. Wheeler.

June 20, 1867, the Fond du Lac County Savings Institution opened its doors and books for business. Col. Edward Colman was Treasurer, Teller and Book-keeper. On that day, Willie M. Weikert wrote his name on the first line of the first column of the first page of the " Signature Book," and started the first savings account ever opened as such in Fond du Lac County.

During that month, two other accounts were opened, making three ; but in July, the num- ber ran up to forty-six, and before the following October, when the first report required by law was made, the books showed 168 depositors, aggregating a total of $13,700, an average of over $80 to each savings depositor. A year later, there were 544 accounts, and $53,486 of savings deposits, being an average of over $90 each. During the year following, this was increased to 881 accounts and $71,000 of deposits. During succeeding years the growth of the institution was undiminished, until nearly $500,000 of deposit lay to the credit of its patrons. The panic of 1873, followed by the unparalleled depression of business and the consequent enforced idleness of many workmen, caused a withdrawal of savings deposits everywhere, which ceased only with the recent return of employment and commercial prosperity throughout the country. Up to the present time, over six thousand accounts, from first to last, have been opened, which have been distributed more than $78,000 interest money.

Among its patrons are a large number of women and children, the special act of the Legislature, secured by the charter, according to these classes protection of their savings placed in the bank, against any act of husband, parent or guardian.

In 1870, President Phillips resigned his position, and was succeeded by Edward Pier, with whom was associated, in the Board of Trustees, Edwin H. Galloway, Vice President, and C. K. Pier, Director, the required number having been previously reduced by law to three.

In May, 1876, Mr. Galloway died, leaving a large and valuable estate. His widow, Maria H. Galloway, was elected to his former position in the management of the bank, and, on the death of the President, Edward Pier. in November, 1877, she was elected to fill the vacant office of President. The Board now consists of Mrs. M. H. Galloway, President; C. K. Pier, Vice President, and G. A. Knapp, Treasurer.

Up to May, 1874, the institution had occupied a rented building on Forest street. During that year was completed a fine two-story brick structure, specially adapted to the business, into which they moved and where they still remain. This building is fully supplied with all the modern improvements necessary to the business, such as fire-proof vaults, burglar-proof safes and time locks, and is a most substantial, safe and convenient bank building.

The German Savings Bank .- September 1, 1872, Charles L. Encking opened a bank under the First National Bank, corner of Main and Forest streets, under the name and style of the German Savings Bank, Robert H. Wharton, Cashier, with a capital of $10,000. In addi- tion to receiving deposits on interest, loaning money and carrying on a general banking business. Mr. Encking engaged largely in real estate, brokerage, insurance, making abstracts and collect- ing, besides being an active agent for the leading trans-Atlantic steamship lines. The bank prospered until the monstrous shrinkage in real estate, in which Mr. Encking was heavily involved, began to cripple its resources. It continued regularly in business, however, until September 23, 1878, when Robert H. Wharton, the Cashier. left the city in the night, it was reported, with all the available cash of the institution. Mr. Encking continued in the bank only a few days to settle up, as far as possible. with his ereditors. The German Savings Bank ceased to exist October 1, 1878. Mr. Encking rented another office, and continued all his former business, except that of banking, and has now straightened out nearly all the affairs of his defunct bank, so that, so far as can be ascertained, the losses by its suspension will be small.

Wells' Bank .- About the first of May, 1870, W. II. Wells came from New York and opened a private bank in the building. corner of Main and First streets, formerly owned and

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HISTORY OF FOND DU LAC COUNTY.

occupied by Keyes A. Darling for the same purpose, purchasing the property from R. Ebert. Mr. Wells does a general banking business, buys and sells bonds, receives moncy on deposit, paying interest therefor ; loans money and transacts all other business pertaining to a first-class bank. The affairs of the institution are carried on by Mr. Wells, its owner, and M. T. Simmons, Cashier.

WV. E. Cole's Bunk .- On the 1st of January, 1879, William E. Cole opened an office for the transaction of a general banking business, as a private banker, under the First National Bank Building, corner of Main and Forest streets. Mr. Cole has a large fire and burglar proof safe depository for the safe keeping of valuable papers, and carries on, in addition to loaning and collecting money and selling foreign exchange, the business of general ticket agent for all the leading steamship and railway lines. The business of making collections is a specialty.

MANUFACTURING INTERESTS.

First Saw-Mill in Fond du Lac .- In 1844, Mason C. Darling gave a contract for a deed to John J. Driggs, deceased, and Warren Morley-a man now eighty-four years of age, and living on the lake shore at Morley's Point-of a parcel of land lying west of Court street and south of Western avenue, "contained in the bend of the East Branch River, and known as the . Hydraulic Reservation.' " provided they should build a saw-mill and have it in running order at a certain time. The mill was not running as soon as specified, but. on the 11th of July. 1846, " for $165 in hand paid," he gave a warranty deed of the property. Mr. Driggs remained only a short time in the proprietorship of the mill, and was succceded by Truman Wheeler. father of the Rev. L. N. Wheeler, now the Presiding Elder of Fond du Lac. Mr. Whecler was killed, in 1847, by the fall of a tree, while engaged in getting out timber for a grist-mill. The framework of this mill was erected near the saw-mill, back of where the Court House now stands, but was never inclosed or used, owing to Mr. Wheeler's death. After Mr. Wheeler was killed, the saw-mill lay idle, or was in charge of a Green Bay man for the Wheeler heirs, until August, 1849, when it was got into running order by Horace Seymour, who now resides in Fond du Lac, and is blind, although in carly times he was credited with having the best eyes. capable of making the quickest and most accurate measurement, of any one in the vicinity. In September, 1849, Mr. Herman Bissell, who had arrived from Connecticut the year before. and who was killed in the terrible Angola railway disaster, December 18, 1869. bought the mill of Mr. Morley and the Wheeler heirs; but, as there was some flaw in the title, he never gained a deed of the half belonging to these heirs, though no rent or interest was ever required of him. His son, L. C. Bissell, now Superintendent of the Fond du Lac Boom Company, was put in charge of the mill, which, with early rising and late retiring, would turn out 2.500 feet of lumber per day. The young man had no help about the mill to assort, carry away or pile the lumber, or tend the mill; and, small as these figures look, they are actually large, for the best mill in Fond du Lac does not now manufacture 2,500 feet of lumber per day to each man engaged in tending it. The logs, of course, were larger then than now, as 720 of which Mr. Bissell kept account averaged 557 feet of lumber each. Now it is a good lot of logs that average 250 feet cach. The first logs sawed by Mr. Bissell were owned by Pier & Newton (Edward Pier and Selim Newton, both deceased), and were hauled from Bannister's Landing on trucks drawn by oxen, and driven by Charles Colman, now a millionaire lumberman of La Crosse, and brother to Elihu Colman, lawyer, of Fond du Lac. Sometimes, when these logs were so large that Mr. Bissell could not roll them on to the " carriage," his wife would come from the house, near by, and render such assistance as was sufficient to accomplish the task.

Before the first lot of logs was sawed, they were purchased by Curtis Lewis, now of Esea- naba, Mich. The contract was to the effect that the saw-bill should be paid every month, but he couldn't always fulfill it, and at such times gave his notes at 5 per cent a month-60 per cent a year ! The notes were all paid.

About this time. home-made lumber became scarce and was higher, the mills at Fond du Lac (two in the village and one in the town; not being able to supply the demand. and rafted

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HISTORY OF FOND DU LAC COUNTY.

lumber was brought from the Shioc mill, two miles below Shiocton, and from the Shawano mill. These were both water-mills, the one at Shawano being owned and run by Curt Lewis, who also was managing the Lewis House, on the site of the present Patty House. He had life and vim enough in those days for a score of men, and it was nothing uncommon for him to start for his mill at Shawano on an " Indian trot," and not stop to sleep or eat, except to partake of such food as he put in his pocket and could be eaten on the run, until he reached his destination. The return journeys were made in the same manner, and in an almost incredibly short time.

This old Wheeler & Morley mill was quite a curiosity in its day, and was visited by almost everybody. The dam extended across the East Branch. a few feet below where the sidewalk now crosses, on the north side of Western avenue. near Meyer's factory. It only furnished about seven feet head of water. The wheel was a curiosity. being of wood, and built like the modern iron or brass turbine water-wheels. Sometimes the water couldn't start it without a lift from the sawyer ; but. once started. it furnished a large amount of power. The saw was the ancient " sash," the jerking of whose heavy framework kept everything in a shake. The mill building was 24x36 feet, and the wooden carriage on which the logs were sawed ran out over the pond. On this carriage, flocks of shouting children, now the prominent men and women of the city and State. were in the habit of riding, in a slow, hitching manner, out over the pond. to be " gigged back " with a rush.

In September, 1855, a great freshiet swept the dam away, and, as other and more modern mills had sprung up near the lake, where logs were more easily reached, the Wheeler & Morley mill was never again put in operation. The site is now owned by C. J. L. Meyer.

First Steam Saw-Mill .- The first steam saw-mill built in Fond du Lac or Northern Wis- consin was erected in 1846 by Davis & Ruggles, on the east bank of the river, just above where Cotton street now is. Cornelius Davis, using the name of his brother, F. F. Davis, furnished the "experience," and A. G. Ruggles, now President of the First National Bank, furnished the money. The logs and timber for the mill were cut on the Wolf River, in the summer of 1846, and rafted to Fond du Lac, after which Mr. Ruggles went East and bought the engine, boiler and machinery. These were put on to the Hudson at Cleveland, and among the passengers with Mr. Ruggles was David R. Curran, ever since a resident of Fond du Lac, then making his first trip to the. West. A terrific storm overtook the boat, and the frightened passengers for a time were determined to heave the heavy mill machinery over- board, to insure the safety of the vessel, being very free in making threats of this character. Mr. Ruggles was far more thoroughly frightened at their threats than at the storm, bad as it was, for all he had in the world was represented in the machinery, which seemed in a fair way to be dumped into the lake. The storm subsided, however, and the machinery was landed in safety. It was then brought to Fond du Lac and put in place during the winter of 1846-47, and, in the early spring of 1847, sawed the first lumber ever cut by steam in North- ern Wisconsin, for B. F. Moore, now owner of the La Belle Wagon Works. In June of that year, the mill sawed its own logs.

The first saw used in the mill was an old-fashioned "sash saw," the whole frame in which it was fastened resembling a window sash, and churning up and down with terrific jerks. Soon after, a muley saw was put in, which was regarded as a great innovation in milling. After the new saw was put in, the mill was run night and day, iu season, cutting about eight thousand feet of lumber in twenty-four hours, and proving a profitable investment. In 1847 or the beginning of 1848, Davis & Ruggles dissolved partnership. The mill was finally burned, but the machinery in it was taken out by George W. Sexmith, and used in his first milling opera- tions in Fond du Lac.

First Planing-Mill .- In 1851, A. G. Ruggles, now President of the First National Bank, purchased several lots on the east bank of the river, where Johnson street now is, and staked out a site for a planing.mill, which seemed to be in good demand. In the fall, Mr. Ruggles went East and purchased the best planing-mill machinery then to be had, and when he returned, in February, 1852, he found his mill-site overflowed by the river as far as what was later called

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HISTORY OF FOND DU LAC COUNTY.

East Water street, the water being several feet deep. For some days the cause of the over- flow was a mystery, until it became known that the first dam had been erected at Menasha. The set-back of the water caused by the erection of this dam had overflowed Mr. Ruggles' mill- site, and much other property as well. He crossed the street, however, and built his planing- mill that year. But no one could sharpen a planer or "hang" the knives, and everything moved under difficulties. There was business enough, but no one could be had who was expert enough to do it properly. Mr. Ruggles was compelled to run the engine himself. In 1852, he did his last work with the planing-mill on a job of basswood boards which Jason Wilkins wanted dressed for the manufacture of baby carriages. The building and engine were afterward used for a saw-mill.

Mc Donald &. Stewart's Factory .- In 1867, a large wooden building was erected on the corner of Arndt and Brooke streets, for a sash, door and blind factory. It was run a short time by a Mr. Jones, now deceased, and, in 1869, fell into the hands of Alexander McDonald and Alexander Stewart, by whom it has since been owned and managed. The factory gives employment to about fifty persons, and turns out $120,000 worth of manufactured stock per year.

City Stone Mills .- This substantial stone structure was begun by a branch of the Congre- gational Church for a church edifice. Before it was finished, the two factions re-united. The walls remained as they were left by the church, until April. 1858. when Dr. M. C. Darling bid them off, with the site, for $1,000. They were soon thereafter completed for a flouring-mill, and the mill put into operation. In 1869. the property was purchased by Moore & Aldrich, and in 1874, by Allen & Aldrich, the present proprietors. The mill has four runs of stone, which receive motion from an ample steam engine.

J. C. Huber's Drug- Mill .- Mr. Huber began in a small way in 1868, on Main street, to grind spices, herbs and roots. In 1872, business having outgrown his capacity. he erected a large steam drug-mill on the corner of Sibley and Marquette streets. He employs ten men, and grinds spices, mustard, herbs, roots and all medicinal plants and barks. About 300 of these are found in Wisconsin, to gather which he has agents in all parts of the State, the Indians being especially valuable and skillful in this work. Mr. Huber imports all spices and medicines not obtainable in America. At the session of the Wisconsin Academy of Arts and Sciences, held in January, 1880, samples of drugs and spices from nearly every mill in the country were tested and none found pure, except from J. C. Huber's mill, at Fond du Lac. This report was officially published.

(Y. W. Sexmith & Sons' Saw-Mill .- Mr. Sexmith is one of the pioneer lumber men of Fond du Lac. IIe has operated a mill continuously since 1854. Sexmith & Sons' Mill. corner of Cotton and Satterlec streets, gives employment to fifty men in season. Last year it turned out 4,000,000 feet of lumber. The mill building was erected by A. G. Ruggles. and contained the first planing, dressing and matching machinery in Fond du Lac.

Alexander Mc Donald's Saw-Mill .- This mill building was erected in 1853 by E. A. Galloway for a warehouse. In 1855, T. S. Henry & Co. transformed it into the first rotary saw-mill ever run in Fond du Lac. In 1865, two rotary saws were put in, after which Henry & Co. sold out. Mr. McDonald has been alone in the business since 1870. The mill has a capacity of 50,000 feet of lumber per day. The boilers now used in it were built in 1856. and are now considered better than first-class modern boilers. Mr. McDonald saws hard lumber for the thrashing machine works, and special grades for McDonald & Stewart's sash, door and blind factory.

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The history of Fond du Lac County, Wisconsin, Part 96

Author: Publication date: 1880 Publisher: Chicago, Western historical company Number of Pages: 1082

Author:
Publication date: 1880
Publisher: Chicago, Western historical company
Number of Pages: 1082