St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-31
National German American.

The history of this banking institution,
from It's modest begin ming until the present
time, most strikingly illustrates the rapid aud
solid growth OF the city. lis origin was The
private banking house of Mercer Il Willus,
which commenced business in 1856 with an
available capital that could be represented by
four figures, the initial figure being 4 very
small one, too. About IA year later Mr.. Meyer
died, when the firm changed to that of
F. &c. Wtus Some years later Mr.
Dunbar came into the firm, which was then
known as Willius Bros. IL Dunbar, the capt.
talemplOyed at that time being $780, 00
This firm continued to carry on the business
Of private bankers until the year 1873, when
the German american bank was organized
under the state law with capital Of 5000, 900.
The first working officers of this bank were
Ferdinand Willus president, John B. San
born vice president, and Gustave Wi!llus
cashier. The capital was increased to
$500, 900 in 1889, when 1t carried q surplus
Of SIS, 900. On May 2, 1888, the bank was
recognized as national bank
under the name of the National
German American bank, with a capital
of 100000. At the first election
under the new organization Walter Mann
was elected president, B. c. Howes vice
president, G. Wilius cashier, and Joseph
Jockey assistant cashier. On April Z of the
present year, Walter Mann resigned the pres
idency, in which he was succeeded by Gus
taye Willius, Mr. Howes continuing as vice
president, while Mr.. Jockey was promoted to
cashier and Mr.. Theodore Draz was appointed
assistant cashier, these four gentlemen Filing
the same positions to-day When the bank
was organized as a state institution it occu-
pied the small room on the south side OF
Third street, between Wabashaw and Cedar
streets, now occupied by Barnum, the real
estate man, but in May, 1880 it removed to
the elegant three story building and base
ment, cut stone front, next adjoining the
Man nhtimer block, East Third street, built
by toe corporation for its special use. 1t was
here the bank inaugursted the important
feature of the Safety Deposit vault, of which
1t was the pioneer in the state. Hardly, how
ever, had the bank got settled in its new and
elegant quarters until the management dis
covered that they had not cor
rectly forecast the probable growth of the
city, or that Of the northwest Of which St. Paul
was the financial heart, and the consequent
demand that would be made upon their re-
sources However, the error discovered,
the remedy was promptly applied by com
mencing in the fall of 1883 the erection OF a
new and enlarged bank structure, which is
now rapidly approaching completion. This
ediice is located on the corner of Fourth
and Robert streets. lis ground dimensions
are l00X15 feet, and its height six stories.
The basement is Of Duluth stone and the
superstructure of Philadelphia pressed brick.
The architecture OF the exterior is very strik-
ing and attractive, and the interior finish
tasty and rich, making 1t one Of the largest
and finest bank buildings 10 the country. A
detailed description of the building is given
elsewhere in this issue. The cost will be
about $780, 900. The hank will occupy tic
corner first floor, the bank proper dimensions
being 5OxlD0 feet. The new quarters will
be occupied May next. The statement
shows surplus of $4,000 added siuce
that of 1888, the deposits and loans about
the same as that year, while the exchange
sold is Sl2,0oO,0Oo against $3.50, All that
wear