The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1889-03-21
mauitomof pilot.
THURSDAY, MARCH 81, 1889.
FIRST NATIONAL, BANK A

FIRST NATIONAL BANK. A
plan for a National Bank was first |
submitted to congress in May 17S1 by
Robert Morris Of Pa. 1t passed con-
gress, and was Incorporated the same
year with capital of S40O,OO0.U
and board Of management consist
ing Of twelve directors. Two United
States Banks were founded by an act
of congress, one in 1871 and the other
in 1910, the former closing in 1911 and
the latter in 1910 All banking insti
buttons were chartered by the state
prior to the National Banking law OF
1864 This system was slow and the
many different interests OF the coun-
try demanded a more advanced
method In June 1864, the National
Banking system was enacted, This
provides that the banks invest at least
one third of their capital in Govern
ment Bonds, the same to be deposited
in the L. S. Treasury for which they
can issue notes, not to exceed 80 per
cent. which makes their bonds OF issue
guaranteed by the credit of the United
States. The First National Bank Of
Manitowoc was the first to organize
under the new law which 1T did IN
1865 The charters of the National
Banks run for 20 years. The above
named bank renewed it's charter in
1885. From the time of its organiZa
ton the bank has enjoyed large and
constantly increasing business and at
the close of business, Feb. Is, 1889, 1t
was shown to possess resources
amounting to 1927, 557.95 and it had
an undivided profit of 81, 454.68. All
departments of legitimate banking
are carried on, loans made on APP
proved security, first class commercial
paper discounted, and letters of credit
furnished for home and foreign trade.
Among the correspondents are some
of the largest banks IN the L. ;. lhe
management Of the bank Is carried on
upon safe and conservative methods,
and its board Of directors is made up
of business men of great ability and
most prominent standing. Mr.. Z. Z.
Barnes. President of the bank, Is a
well known capitalist and is largely
identified with other important and pros
porous interests. Mr.. w. Barnes, Vice
President is the senior member OF the
well known firm Of Barnes, Mendhk
Mulholland. general merchants. Mr..
Charles Luling, Cashier, is a financier OF
superior ability and prominently known
over the entire state. He is president OF
the State Board of Supervision to which
he gives most of his time and attention.
Mr. Geo. b. Burnet, Assistant Cashier, is
thoroughly experienced and practical
banker who has been identified with
banking interests here for the past Is
years, and one whose knowledge of the
details of the business contributes large
" to the means of the management. IN
der control of these substantial and lead
ing citizens the bank occupies a prOml-
nent place among the leading financial
institutions of the state.
RECHCYGL & SEEKER, Dealers
in Groceries. Among the leading re-
tail business houses which have been
inaugurated within the last few years
that of Messrs Rechcygl q SEEKER is
one Of the most prominent and popu-
lar The business was established
three wears ago. since when the firm
by enterprise and industry have sue
ceeded in establishing a lucrative
trade. Their store is located at the
corner of York and Eighth SITS. which
the city. 1t covers an area 25x60 feet
and is finely arranged for the conduct
of the business. Their large and
varied stock of goods consist of staple
and fancy groceries, imported table
luxuries and delicacies, all of which
will be found first class in every re-
spect. The trade gives employment
to four persons and all the details OF
the business are handled in a very
efficient manner The co-partners
Messrs. S. Rechcygl and G. G. SEEKER
are both natives of the county and
conduct their business upon principles
of the strictest integrity and most adj
vanced liberality and both belong to
that class of business men of which
Manitowoc has reason to feel proud.
BOECHER, Manufacturer of wagons
carriages, etc. One of the best known of
Manitowoc's wagon and carriage manu-
facturers is Mr. J. Boecher. The bust
ness was started in 1862 and so effectual
has the good and honest work turned
out and the reasonable prices charged
for same been in attracting patronage,
shat this house ranks among the leading
ones in the city. Two buildings one
30x50 feet and two stories high and the
other 2Oxi0 feet are used as factory and
blacksmith shop, respectively. These are
supplied with the best wood working
machinery. and power is furnished by
steam. Some five or more men are
afforded const mt employment. Fine car
rlages, wagons, etc., are made. most OF
the work being done to order to suit the
pecuharitieS of the service for which the
vehicles are wanted. 1t requires no small
degree OF mechanical skill to design a
vehicle as well adapted as possible TO the
many usos TO which it may be put. and
the selection of the materials and their
construction into the finished article is
of itself task OF no mean magnitude. A
man who has been in this business for
q years may reasonably be expected to
know as much as can be known about
it. During Mr.. Boechers many years
business career he has made many
warm friends which together 18th his
rigid integrity has secured for him a
= leading place as prominent citizen
and business man.
F. w. SEIDL, Dealer in Agricul-
tural Implements. This business was
founded ten years ago and has since
been conducted with remarkable sue
cess and Mr.. Seidl has secured for
himself a reputation for honorable
dealings second to no other concern
in the city and his trade in these
necessary goods IS something very
large indeed. He deals in all kinds
OF light and heavy agricultural I'M
plements, besides engaging in other
enterprises to which we Will call the
attention OF our readers later The
agricultural ware house is a two story
building 30x90 feet in dimensions.
This is provided with an office. also
necessary denartment for nrnner dis