Nodaway County, Missouri - Chapter 16: Banks and Banking, 1910

Chapter 16: Banks and Banking

The people of XToda\vay county have just reason to be proud of the record made by her banks. After forty-two years of business, there is but the failure of one small bank to record in which depositors suffered a loss - that of Barnard. The splendid showing may be attributed, partially at least, to the intelligence, industry and high moral spirit of her citizens in general from among whom her business men naturally were developed. One of the most highly respected and honored citizens of today in Maryville is George S. Baker, who was the pioneer in the county in banking business, and is yet connected with one of our most prosperous banks. While Mr. Baker is a native of Kentucky, having been born in Madison county, that state, in 1836, he has spent practically all his life here. Others of the worthy pioneers who followed Mr. Baker closely in the early days of the business and who assisted in placing it on a high plane were Joseph Jackson and Theo. L. Robinson. Mr. Jackson is still engaged in the business, while Mr. Robinson has passed on to the Great Bevond. While these men were active in establishing the business on its exceptionally solid and substantial basis in Maryville, other towns in the county rapidly fell into line. Hopkins was the first, followed a few years later by Burlington Junction, and then the other towns as the county devel¬ oped, by the building of its railroads and settlement by thrifty farmers, thus creating a demand for more banking houses.

Before Banking Days

In the language of another it may be said : "The first bank to be es¬ tablished in Nodaway county was in 1868, but prior to that date other means was provided by which the limited banking transactions were successfully carried on. From the earliest settlement of Nodaway county, down to the date just mentioned, such transactions as are usually carried on through the banks of the county were cared for by the larger stores and mercantile houses in the town of Maryville. When a person had a check or draft sent him in payment of some obligation, in place of depositing it at the bank, or having it cashed there, he usually took the paper to the larger dealer - a merchant who knew him - and there either had it cashed or exchanged for such goods as he might be in need of. In turn, if it was a draft and easily negotiated, the merchant would send the same, with others, on to some one of the larger commercial centers, St. Joseph, Kansas City or St. Louis, possibly, and there he was given credit on his account, and later other goods were shipped him for the same.

"But as the country settled up and money transactions became numerous, some of the larger merchants who had been handling such business in some sections of the country started banks themselves, and thus the people soon be¬ came accustomed to banking usages, and it was not long before every goodsized town supported such an institution.

"Again, much of the early-day business was little more than barter, wherein one person would exchange so much of this or that commodity for so much of some other kind of produce or merchandise. However, taxes and postage were then, as now, always cash, had to be forthcoming, and it was for this emergency that everyone had to provide money, which was not always an easy task before the days of railroads and nearby markets. In those pioneer days interest reached in many sections as high a rate as forty per cent., but when one wanted to secure a valuable tract of land at a nominal sum, it was not more begrudged than the lesser rate is today, for the invest¬ ment was even then a chance of a lifetime to the man who had to pay such interest. But be it said to the credit of the Nodaway county bankers, that these excessive rates obtained before banking days here, and it was simply a a matter of supply and demand, and at times was a matter of an elastic conscience upon the part of the money-lender, regardless of whom it might distress."

The First Bank

The first bank in Nodaway county was the one established at Maryville, in 1868, by George S. Baker, James B. Prather, E. S. Stephenson, Joseph E. Alexander and William C. Orear, under the style of George S. Baker & Company. In 1870 William C. Orear sold his interest to John O. Martin. In 1873 George S. Baker and John O. Martin sold their shares to Theodore L. Robinson and J. C. Waterman. At that date the name of the bank was changed to the Nodaway Valley Bank, with James B. Prather as its presi- dent, and Theodore L. Robinson, cashier. Later, the interests of Messrs. Waterman, Stephenson and Alexander were sold to Prather and Robinson.

The present capital of the bank is one hundred thousand dollars. Its present officers are James V. Robinson, president, and J. D. Richey, cashier. The location is the same site of the old banking house, at the corner of South Main and Third streets. Their present banking building was erected in 1901.

The First National Bank

The First National Bank of Maryville was the outgrowth of the business started by an organization April 17, 1871, by H. C. French and H. C. Fisher, private bankers, under the name of Fisher & French. It was located in the first story of the building later occupied by the Maryville Republican office.

On September 23, 1872, H. C. French sold his interest to Joseph Jackson and John C. Terhune. The bank was then organized under the name of Fisher, Jackson & Company, with Joseph Jackson as president and H. C. Fisher, cashier. In 1874 they built the present bank building. September 17. 1877, Mr. Fisher sold his interest to Messrs. Jackson and Terhune, when Mr. Ter¬ hune became cashier. The name was then changed to the Farmers Bank, with a paid-up capital of fifty thousand dollars.

The capital was increased later to one hundred thousand dollars, and Joseph Jackson was elected president. The bank was organized as the First National Bank of Maryville in 1884 and in 1885 Mr. Terhune sold his interest to Mr. Jackson. The present officers are Joseph Jackson, Sr., president; Joseph Jackson, Jr., cashier. The capital still remains one hundred thousand dollars, and they occupy the building erected in 1874, on the southeast corner of South Main and Third streets.

Maryville National Bank

The Maryville National Bank was organized in 1889, but its history reaches back to 1874, when the banking business of Baker, Saunders & Com¬ pany was organized on the site of the present Maryville National Bank, at the northwest corner of North Main and Fourth streets, the owners of the first banking house being George S. Baker, John Saunders and Richard Saunders. In 1880 Richard Saunders sold his interest to George S. Bake) and John Saunders. In 1887 George L. Wilfley and Elmer Fraser secured an interest in the business. John Saunders having died in 1889, the business was reorganized as the Maryville National Bank, with George S. Baker, pres¬ ident; George L. Wilfley, cashier. From 1892 to 1896 John Lieber was pres¬ ident of this bank, and was succeeded in 1896 by George L. Wilfley, with Elmer Fraser as cashier.

In the month of March, 1902, S. G. Gillam, C. D. Bellows and W. C. Pierce secured a large block of the stock in this bank and were elected directors and Mr. Pierce succeeded Mr. Fraser as cashier. Another change was ef¬ fected in January, 1905, when S. H. Kemp, who had been cashier in the First National Bank of Maryville for fifteen years, was elected cashier to succeed Mr. Pierce and he still retains the position.

The first twenty-year charter of this highly successful bank expired in February, 1910, and has been renewed for a term of twenty years more. The capital is one hundred thousand dollars, it having been increased in 1905 from fifty thousand dollars. The business has grown immensely and during the last five years has fully doubled its volume of business.

Real Estate Bank

The Real Estate Bank of Maryville was organized in 1896 by George S. Baker, George B. Baker and Mrs. Maud Tate. In 1904 it was incorporated as a state bank, with E. J. Williams president and George B. Baker cashier, and they are both holding such positions now. The capital of this bank is now thirty thousand dollars. The location of the bank is on the northeast corner of East Fourth and Market streets. It will be seen that the founder of the first hanking house in Maryville, George S. Baker, is still engaged in a like business today, having been thus associated with different concerns since 1868, covering a period of forty-two years.

Bank Of Hopkins

The first bank in Nodaway county, outside of Maryville, was the Bank of Flopkins, organized in 1873 by Goodsill Brothers and F. Dunning, who carried on the business until 1877, when a joint-stock company was formed, with Alexander Goodsill as president and Edward Donlin cashier. In July, 1877, W. Dunning became president and the same year J. C. Powell became cashier, serving until January, 1880, when he was succeeded by C. W. Tay¬ lor. In 1881 this bank had a capital of fifteen thousand dollars, which has been increased to twenty-five thousand dollars. Its present officers are E. C. Wolfers. president, and C. E. Donlin, cashier.

Past And Present Farmers And Merchants Bank

The Farmers and Merchants Bank of Hopkins was organized and opened for business November i, 1900, with a capital of fifteen thousand dollars, as a private bank, with Chester S. Martin, president, and J. S. Stewart, cashier, thus continuing until April 18, 1906, at which time the business was bought and organized as a state bank, with James C. Pistole, president; W. A. Alexander, vice-president ; Charles R. Whitton, cashier. The capital was ten thousand dollars ; loans, thirty-one thousand nine hundred and six dollars : deposits, forty-two thousand six hundred and forty-three dollars. The bank is doing an excellent business and is managed by Albert F. Mutti, president; W. W. Alexander, vice-president; James C. Pistole, cashier. The loans now amount to one hundred and four thousand one hundred and thirty-one dol¬ lars ; deposits, one hundred and six thousand seven hundred dollars.

Burlington Junction Banks

The first bank founded at Burlington Junction was in 1879, known as Ware's Commercial Bank. It was established by J. H. Ware, Sr., and J. H. Ware, Jr., and occupied a frame building on East Main street. In 1880 thev built the two-story brick building now occupied by the First National Bank and moved into it. It was conducted as a private bank. In 1890 the bank was sold to George C. Epsy & Son, who still conducted it as a private bank, and who in the same year sold to E. F. Berry and associates, of Rockland. Maine, who organized under the state laws with a capital of twenty thousand dollars. In 1906 this bank (still called the Commercial Bank) was merged with the Northwestern Bank of Burlington Junction.

The Northwestern Bank Of Missouri

This bank was organized April 6, 1883, by James Rankin, J. M. Martin. J. W. Gardner and others, with William H. Davis as president and I. M. Martin cashier, with a capital of fifty thousand dollars. January 1, 1895, the capital was reduced from fifty thousand dollars to twenty-five thousand dol¬ lars, which it is today. The surplus is nine thousand dollars and the officers are D. T. Garrett, president, Enos Fast, vice-president, and R. N. Barber, cashier.

First National Bank Of Burlington Junction

The early history of the First National Bank of Burlington Junction is as follows: In 1880 a private bank was established known as the Merchants Bank; it was located in a little brick building across from the old North- western Bank building, by a Mr. Miller, who was succeeded in 1883 by the Northwestern Bank, incorporated with a capital of fifty thousand dollars with W. H. Davis president and J. W. Martin, cashier. In 1902 the capital was reduced to twenty-five thousand dollars, its present amount. Its officers are D. T. Garrett, president ; Enos Fast, vice-president ; R. N. Barber, cashier. The present surplus is ten thousand dollars.

After the merger of the Commercial Bank with the Northwestern in 1896, there was but one bank in Burlington Junction, but in the spring of 1900 the Junction Bank, incorporated, was organized and commenced busi¬ ness in the location of the old Commercial Bank, with a capital of ten thou¬ sand dollars, with Joseph Maltby as president ; J. F. Robertson, vice-president, and C. I. Hann, cashier. In June, 1902, the bank was nationalized with a capital of twenty-five thousand dollars. Its present officers are : Charles D. Caldwell, president; C. B. Zarn, vice-president; C. I. Hann, cashier. Besides the capital of twenty-five thousand dollars, the bank has a surplus of twenty thousand dollars.

Farmers Bank Of Skidmore

The Farmers Bank of Skidmore was brought into existence in the fol¬ lowing manner : The first attempt at banking in Skidmore was when Hawley H. Nash, an old resident of the town, and James P. Dike, a young New Yorker, conducted a bank for a year or more, in a store building near the depot, later building a banking house of their own. which is at present oc¬ cupied by the Farmers Bank. Finally, W. J. Skidmore bought and conducted this bank three months and sold to R. M. Stephenson, of Tarkio, Missouri, Fouis Hax, of St. Joseph, and others. These gentlemen organized under the state banking laws of Missouri, with a capital of ten thousand dollars, com¬ mencing to do business and continued until July. 1905, when the majority of the stock was acquired by Robert Montgomery, of Oregon, and H. W. Montgomery, of Skidmore, who has been cashier of the institution for the past seventeen years. The charter number of the bank is 842 and the capital remains the same as originally, while they have a surplus of five thousand dollars. It enjoys a steady growth and the fullest confidence among the people of the community, having never had any difficulty in times of financial flurries.

The present officers are: Robert Montgomery, president; H. W. Montgomerv, cashier. Deposits average about one hundred and fifty thousand dol¬ lars. which is indeed a good showing.

The Bank Of Skidmore

The Bank of Skidmore was organized March 28. 1904, with the follow¬ ing officers: D. W. Porter, president; J. B. Ross, cashier and secretary, and E. M. Miller, vice-president. The capital stock is ten thousand dollars and the present officers are : W. R. Linville, president ; Aaron Linville, vicepresident, and W. S. Linville, cashier. The present capital is ten thousand dollars; surplus and undivided profits, three thousand five hundred dollars; deposits, eighty thousand dollars; loans, sixty-five thousand dollars. This institution is doing a good banking business and handles its finances in a conservative manner, thus insuring the public of its honesty and ability to handle their money.

Farmers And Merchants Bank Of Elmo

The Farmers and Merchants Bank of Elmo was established as a private bank by John S. Bilby and E. H. Ralston, in 1889, with a capital of five thousand dollars. Mr. Bilby was its president and E. IT. Ralston, cashier. In February, 1897, it was incorporated into a state bank with a capital of ten thousand dollars, with E. H. Ralston as cashier and director and A. C. Dredge and William M. Johnston as directors. A year or two later the capital stock was increased to twenty thousand dollars. Then E. H. Ralston was elected president and E. J. Bender, cashier. The officers at this date are: George P. Shoptaugh, president; George W. Walton, cashier; S. G. Gillam, C. J. Colden and George P. Shoptaugh, directors.

The Farmers State Bank Of Conception Junction

This banking institution was organized in 1905 with a capital of ten thousand dollars. It was organized by the farmers of the community in which Conception Junction is situated and it is today doing an excellent business. Its officers are: E. H. Ralston, president; Edward Allen, vicepresident; A. E. Burton, cashier.

Citizens Bank Of Graham

This, the first and only bank ever established at Graham, was established in March, 1892, with the following officers: Dr. M. M. Rhoades, president; Charles H. Talbott, cashier.

The present officers are: William G. Wilson, president; A. C. Snyder, vice-president ; J. M. Wilson, cashier. This bank has a capital of twenty thousand dollars ; surplus and undivided profits, ten thousand dollars ; deposits, one hundred and thirty thousand dollars.

Platte Valley Bank

This bank is located at the sprightly town of Ravenwood. and it was organized in 1892, with A. G. Bently as president: Harvey Joy, cashier. It continued under this management until 1896. at which time Joy sold his interest to J. C. Fryar. It continued under that management until July, 1904, when it was incorporated with the present directors: James Dack, Isaac Barton, James Colvin, W. T. Jackson and J. S. Casteel: W. T. Jackson, pres¬ ident: J. S. Casteel, cashier.

Wright Brothers Bank Of Parnell

This was the first bank established in the eastern part of Nodaway county, organized September 18, 1888, with a capital of five thousand dol¬ lars. Its owners were the brothers, W. M. and U. S. Wright. The business grew from the start and the capital was increased from time to time, until it vras incorporated January 1, 1907, with a capital and surplus of thirty thousand dollars. U. S. Wright, president; H. E. Wright, cashier. The de¬ posits on hand January 24, 1910, were two hundred thousand dollars. At the date last named the bank was sold to its present owners and the name changed from Wright Brothers Bank to the Parnell State Bank. The capital was reduced to fifteen thousand dollars, and the surplus to seven thousand five hundred dollars.

Parnell State Bank

As above indicated, the foundation of the Parnell State Bank was the old Wright Brothers Bank. It was organized January 24, 1910, as the successors to Wright Brothers. The officers are: Horace Jones, president; C. C. Hall, vice-president; Fred A. Breit, cashier. The stockholders are as follows: Horace Jones, C. C. Hall, Fred Breit, Roy Fitzsimons, George F. Felton, W. A. Boyer and A. Waldeier.

The Farmers Bank Of Parnell

This banking house was founded in the spring of 1910, with twenty thousand dollars subscribed stock. The officers are J. W. Kennedy, pres¬ ident; W. N. Morgan, vice-president; H. O. Gray, cashier. The last named had been the cashier with Wright Brothers Bank for several years. This new bank has, of course, not made much history as yet, but seems to have launched in the business under favorable circumstances and times.

Bank Of Guilford

The Bank of Guilford was organized by charter from the secretary of state, A. A. Lesuer, December 23. 1890. The organizers were: Albert Roecker, the veteran banker of Bregon, Missouri, his son-in-law, E. M. Aus¬ tin, and Samuel Walker. At first the capital was ten thousand dollars, which was increased to fifteen thousand dollars in 1905 and again in 1909 to twenty thousand dollars. It has ever been the policy of the bank to use its profits to build up its business.

The first president was Albert Roecker, with E. M. Austin, cashier. Mr. Austin was succeeded, in turn, by T. D. Parr, J. C. Hocker. George Beggs, Eunice M. Parr and Carl Wray. The present officers of the bank are : Joseph Meyer, president; J. L. Ballard, vice-president; Carl Wray, cashier.

This bank occupies the southeast corner of Main and Elm streets. The building is a handsome structure made from pressed brick and stone, built in 1901, in connection with the Masonic fraternity, which occupies the second floor for lodge room purposes.

Bank Of Conception At Clyde

This bank was organized in 1895, by a stock company, with the follow¬ ing officers: John Wirth, president; John Allen, vice-president: J. P. Hardin, cashier. The capital stock of the bank has been fifteen thousand dollars from its start. The present officers are : Robert Moffatt, president ; Leo King, vicepresident ; Anna Wirth, cashier. This bank is doing a good business for the size of the town in which it operates. It is in a rich farming community and many farmers patronize the bank which has always been conducted correctly.

Bank Of Pickering

The Bank of Pickering was established November 1, 1900. with a capital of five thousand dollars and in May, 1908, increased to ten thousand dollars. The officers have been the same from the organization and are as follows: C.

The Jackson Bank At Clearmont

The Jackson Bank was organized in 1892 at Clearmont, with Henry Weber as president and Guy C. Clary as cashier. The capital is now ten thous¬ and dollars. Considering the size of the town of Clearmont and the near¬ ness to the banks at Burlington Junction, this bank has always had its share of business.

Barnard State Bank

The Barnard State Bank was organized in 1892. Its present capital is twenty thousand dollars. Its president is S. J. Smith and the cashier is John A. Fields. Within a good section of the country and a fair town of intelligent people, this bank had been doing a safe, successful business.

Quitman Farmers Bank

The Farmers Bank of Quitman was organized in 1885. It now has a capital of ten thousand dollars and has the following officers : J. S. Bilby, president; H. C. Bailey, cashier. We are not in possession of more facts about the banking history of the town of Quitman.

Arkoe State Bank

The Arkoe State Bank, at the town of Arkoe, this county, was organized in September, 1909, with ten thousand dollars capital. It is located near the track and is within its own neat, brick building. Its officers are : Samuel Carrough, president; J. T. Goff, cashier. This is one of the last banking ventures launched within Nodaway county.

The following was published in February, 1910, as the statements given out to the public on the last day of December, 1909, showing the deposits held in the various banking institutions in Nodaway county. The figures