Eau Claire County, Wisconsin - Chapter 39: Banks of Eau Claire County, 1914

As early as 1857 C. M. Seeley started a private bank iu Eau Claire in a one-story building on Eau Claire street, opposite the pi-esent Y. M. C. A. building, and in the fall of the same year Hall Brothers, of Aurora, 111., opened another private bank with D. R. Moon as cashier and manager. This latter bank closed in 1861. Whipple, Bellinger & Wilson, real estate dealers, also did some banking business in connection with their other affairs. In 1861 C. M. Seeley sold his bank to Carroll C. Spafford, of Rockford, 111., who in the same year took as a partner DeWitt C. Clark, employed in the county treasurer's office, forming the copartnership of Spafford & Clark. In 1866 the Hon. 0. H. Ingram purchased the interest of C. C. Spafford and the firm was succeeded by Clark & Ingram, who continiied imtil 1883. In that year William K. Coffin, of Batavia, 111., came to Eau Claire and organized the present Eau Claire National Bank, with a capital of $100,000, which succeeded the banking firm of Clark & Ingram. 0. H. Ingram was elected president, L. M. Vilas vice-president and Mr. CofSn cashier. Mr. Vilas resigned as vice-president July 12, 1887, and was succeeded by William Carson, who served until his death, January 4, 1898. The firm of Spafford & Clark had a banking office first at about 314 Eau Claire street. They later moved to 203 South Barstow street and finally Clark & Ingram erected a building at the southwest corner of South Barstow street and Grand avenue East, which is the present location of the Eau Claire National Bank. In January, 1902, tlie following officers were elected by the Eau Claire National Bank: 0. H. Ingram, president ; W. K. Coffin, vice-president and cashier ; C. W. Lockwood, vice-president; T. B. Keith, assistant cashier; E. J. Lenmark, assistant cashier. Mr. Keith was first made assistant cashier January 18, 1896, and finally resigned his position to enter the firm of Keith Brothers in March, 1903.

In January, 1904, Otto von Schrader was elected an assistant cashier. In January, 1905, Mr. Ingram retired and Mr. Coffin was made president, with C. W. Lockwood as vice-president and cashier. In January, 1906, E. J. Lenmark was elected cashier, succeeding Mr. Lockwood. In January, 1909, John Bauman ana J. A. Playter were elected assistant cashiers, and in January, 1911, W. S. Woodruff was added to this list. Mr. Bauman resigned some years ago and went to the Eau Claire Savings Bank. At the present date, September, 1914, the capital of the Eau Claire National Bank is $150,000 and the oificers and director.'!, are as follows :

The First National Bank, of Eau Claire, was organized in the early seventies with a capital of $50,000, and opened an office at 313 South Barstow street. The officers were: F. W. Woodward, president ; William A. Eust, vice-president, and George T. Thompson, cashier. This bank was succeeded by the Bank of Eau Claire, organized under the state law with a capital of $30,000 in April, 1S78, with the same officers. On January 1, 1885, F. W. Woodward retired and Mr. Thompson went to the Chippewa Valley Bank. The succeeding officers were : W. A. Rust, president : H. H. Hayden, vice-president, and C. W. Lockwood, cashier. C. W. Lockwood resigned in March, 1897, and was succeeded by James T. Joyce, cashier. Marshall Cousins was also elected assistant cashier. January 1, 1893, the capital of the Bank of Eau Claire was increased to $100,000 and its office was removed to the building which it had purchased and remodeled at the southeast corner of South Barstow street and Grand avenue East. The Bank of Eau Claire and the Chippewa Valley Bank were merged and succeeded by the Union National Bank in July, 1906, with a capital of $200,000. The first officers of the latter were: President, William P. Bartlett: vice-president, James T. Joyce; cashier, George T. Thompson, and assistant cashier, Marshall Cousins. Mr. Thompson died June 14, 1907, and Marshall Cousins was elected cashier at the annual meeting in January, 1908. Mr. Bartlett retired as president and director, declining re-election on January 10, 1911, and was succeeded as president by 0. H. Ingram. Tlie Union National Bank occupies the building of the former Bank of Eau Claire, whicli it has entirely rebuilt and refui-nished. Below is given the present official roster of tlic bank:

In July, 1878, II. C. Putnam and V. W. Bayless organi/.ed tinprivate banking firm of II. C. Putnam Company, and on January 26, 1885, they organized the Chippewa Valley Bank under the state law, capital $30,000, with the following officers: H. C. Putnam, president; George T. Thompson, cashier, with an office on Grand avenue East next to the building now occupied by the Eau Claire National Bank. Later they purchased the building at the corner of Eau Claire and South Barstow streets and elected the following officers: B. A. Buffington, president; H. C. Putnam, vice-president, and George T. Thompson, cashier. This bank then increased its capital to $100,000 and continued in business until it and the Bank of Eau Claire were succeeded by the Union National Bank in 11)0(1.

The Union Savings Bank was organized by the stockholders of the Union National Bank and oi>ened for business in July, 1906, with a capital of $50,000. The following officers were elected: President, K. Rosholt; vice-president, A. II. Hollen; cashier, John

B. Fleming. Mr. Fleming was elected mayor in 1910 and was succeeded by Julius Rosholt, who retired during the year 1914. The bank occupies the building formerly owned by the Chipjiewa Valley Bank and the present officers are: K. Rosholt, presitlent; H. S. Strandness, vice-president; John Barron, cashier : LW^. J. Mahoney^ assistant cashier. The directors are practically the same as those of the Union National Bank.

The Eau Claire Savings Bank was organized under the state law in 1900 with a capital of .$50,000 by the stockholders of the Eau Claire National Bank and the following officers were elected: W. K. Coffin, president; C. W. Lockwood, vice-president; F. S. Bouchard, cashier. Mr. Bouchard died July 15, 1909, and was. succeeded b,y Charles W. Dinger, who still holds the position. The bank occupied temporary quarters on North Barstow street for a couple of years and then purchased and remodeled the building at the corner of North Barstow and Wisconsin streets, which it still occupies.

Ira B. Bradfoi'd. The bank has a capital of $25,000 and a surplus of !t>15,000, with the following officers: Ira B. Bradford, president; C. E. Bradford, vice-president; A. E. Bradford, easltier, and E. E. Thwiug, assistant cashier.

It is generally understood that Augusta is soon to have another financial institution, of which the city is greatly in need, and is to be called the People's State Bank, now - 1914 - in process of organization.

First National Bank, of Fairchild, was organized May 9, 1904, with a capital of .$25,000 and surplus $5,000, and on June 1 of that year opened its doors for business. The officers are N. C. Foster, president; W. K. Coffin, vice-president; W. F. Hood, cashier; Elmer Fallett, assistant cashier. Its deposits on July 1, 1913, were $180,000, and the institution stands well in the financial circles of Eau Claire county.

The Bank of Fall Creek. This bank was organized in 1903 by K. Kosholt. (i. K. Bartz, William Niebuhr, P. S. Lindenthaler, W. II. Frawley, J. E. Zetzman, F. C. Lanua and C. J. Lissack. All these were directors and K. Rosholt president, G. E. Bartz vicepresident and C. J. Lissack cashier at the time of the organization. Mr. G. E. Bartz died shortly after and J. E. Zetzman was appointed to fill the vacancy of vice-president. The present officers are : K. Rosholt, president ; J. E. Zetzman, vice-president ; Henry Wise, cashier; C. W. Voeehting, assistant cashier. The capital stock of this bank is $10,000, with surplus of $2,500 and (h'posits of $200,000.