St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-31
Rank of AIinne.ntn

The foundation Of The splendid financial
structure now Incorporated under The sta:r
law as the Bank Of Minnesota, was laid in
1851, when Messrs Holland. Berry Il Daw-
son commenced business as private bankers
10 the room crrnrrIug on ThIrd and Waba-
shaw streets, Ingersoll block Ia 1862 the
firm was reOrganizrd, Mr.. Holland retiring.
bis place being taken by Mr. Clayton, the
Tirm being Berry, Dawson & Clayton. Later
In the same year another change was made
Mr.. Clayton retiring and being succeeded by
Mr.. Stevens, the new trm rame being Berry.
Dawson q Co. Upon the death Of Mr. Berry,
which occurred about a year later, the firm
name was changed 10 Dawson il Co. Febru-
airy 3, 1866, Robert A. Smith and L.. E. Reed,
the latter for some time previous bebg as
sistsnt teller of the First National, went into
the firm, Mr.. Stevens retiring, the lrm uamr
of Dawson u Co. being retained. Iu
1852 the business WAS removed from
lngerson block 10 the three story stone build
irg built 10y Mr.. Dawson on The south side
Of East Third street, between Robert and
jackson streets, being the rooms now
occupied by W. L. McGrath, merchant tailor.
Jan. l, 1870, Mr.. Reed retired and was sue
ceeded by Albert Scbeher, fresh from his
schooling as assistant cashier in the First
National. In May, 1881, the hrfn name was
changed 10 Dawson. Smith u Srhtifrr, aud
in November, 1882, the institution was re-
organized and chartered under the state Law
as the Bank of Minnesota, with = capital
stock Of $500, 900, and the following utiicrrs:
President, VIM. Dawson; vice president, r.
A Smith; cashier, Albert SrnriTcr, aud a.
sistan cashier, Herman Schrifcr, under which
officers and organization il is working to-day.
With the reorganization OF the bank new
and enlarged quarters TO accommodate lis
rapidly increasing business were sought
These were found in .. the cor
ner room of the newly completed
Gilfllan block, corner ofJackshu aud Fourth
streets, which was specially designed FOR The
purpose, and handsomely and richly fitted up
Tor such occupancy. This removaLyas made
IN May, 1882. but although the bank is-enm-
fortabIy and conveniently located. the situa-
iiou does not fully meet with the desires ~
the enterprising management, and so il has
been decided 10 secure new aud more com-
modious quarters. For this purpose a lot
50xll0 feet, corner Of Jackson and Sixth
streets, has been purchased, upon whirh-tae
work OF constructing new bank buihilng
will DC commenced eRriv The coming spring
The plans for this huildiug are not fully com
pleted as YET, SO tGat drlalis al tins
time cannot be given. Sa;iice il that
il will be in all respccls a
drst- class structure-Cne that viii mol sCi,pT
in comparison with The imposing struciuIe
recently occupied by Jne Firsi NAllop a. SIS
also that soon TO be occupied by lne Niuonsl
German American. The business oistAs nank
the past year, notwithstanding Jul times, has
been emioeut!y satisfactory. Durlng lhr year
the surplus has bevn incressed.fnsm S3l,eJu
10 SIS. 00J, TUE deposits navr inEr5lSci over
$300,Cu0, the loans Orvr SlSJs9au aatl ~
the item OF exchange sold ti5eseo4s al 81
crease OF 81, $4,000