Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1900-06-08
n. D. BANKS.
History of Banking in North Dakota
Compiled BY the Deputy State
Examiner.
Bismarck Has the Honor Of Having
Had the First Bank in North
Dakota.
It Was Established by ]. w. Raymond
in I873-Fargo Second Several
Years Later.

~ Ny nOAu
in I873-Fargo Second Several
Years Later.
There has been recently published
"a History Of Banking in the United
States" by the late John Jay Knox,
for seventeen years deputy comptroller
and comptroller of the currency. The
entire work was carefully revised and
brought up to date by Bradford
Rhodes. editor of the Bankers Maya
zine. the chapter of North Dakota
national banks is furnished by Deputy
State Bank Examiner r. E. Wallace
and is of particular interest to Bis
marck where the first bank in the state
vas established July 5, 1873. Mr..
Wallace stys:
The first person to engage in the
banking business was, in all probable
ity, ]. w. Raymond. who commenced
business July 3, 1878, in Bismarck, al.
though Messrs. Shaw & Carthcart, in
Bismarck. and e. S. Tyler & Co., in
Fargo, cashed drafts, etc, but did not
receive deposits mol make loans. Later
Mr.. Raymond associated himself with
George H. Fairchild, and under the
title of the Bank of Bismarck carried
on what was the only bank in what is
now North Dakota, for a considerable
period. They dissolved partnership,
and Mr.. Fairchild opened the Mer-
chants Bank, while Mr.. Raymond con-.
Stinued as the Bank of Bismarck. MI.
Fairchild, with Walter Mann, of st.
Paul, organized the First National
Bank of Bismarck in 1879, being the
second in the territory Of Dakota to,
organize under the national act, and
the Merchants Bank transferred its
business to the national institution.
Mr.. Raymond continued the Bank Of
Bismarck until 1882, when the Bis
marck National Bank was organized
with Mr.. Raymond as president, and
tba business ~ Tho Rsnk = pisn.re1,
was turned over to the new organiza-
+ion The pisma ror Na+;nn.1 p.n
went ;nto volnntar ~ ,ion;dation ana
WIS s,,cceaded bv +ba R;sr. ro,, pank
with = q power nrasidant .nd I 3
Raker casbiar M povm,na .f+ar
sarv;ne ) torn &c +roas,rar ~ tba +or
ritorv NJ IA ota movad - M;nnaa
no1;s wbora no hoco NO nras;don+ - ~
N.+iono1 p.nL 80 rono :
sioned 10 oocon+ +ba ,,ioa nrosdano
ofI Aha Northwas+arn N.+;ono1 .nd
,.+or ,pos o,aotad nros;dan+ - +h.+ q
st;+r Ia ND ;oh nos;t;a, ha1aa.
a was not ,nti1 1s7s maj ! Nan,
ua oro,. : i,ad u Eoreo no,, IN !. =
ost c,ty i The s+o+e =, = 1on,.rr -
+ha+ vaar Mossrs 4 u uarrood 80
T = H,mne, onened tic panL 8
F,rgo Tbar waro s,,ooaadad IL Mas.,..
cnaat = M;,,ar $50, ~ t,41.
This hanr was mersed ;nto n IA,
zen,s Na#ona1 q ,ss7 viii = = Mi
,or nrosidan+ .na coh,,-ion
"a sbiar
Masers = 5 and d Il Eddu ! ]
p,ainv,aw MIN ana caorsa = ms
Zine ana Harrv staven - paoina5
wis onanad for h,,siness ) Tanua, !,
q 1s7s nnder ma 4it,a ~ / RanL
of Dakota .nd IN ! took Goo
= o-raan;se , n.tionaI h.n1 ID - )
result tba First Nation.l Ranh e F,r-
% was fornad y 3 withn,,t do,,h+
The frst incorporate b,nL = wh.t &
Now +ha stota "a North n.,,ot. ~
NJ rto. y. 10 dato,7 Eahr,, - . 1e7o
witb canital n.id i OK non. 10 frst
omcers were q 5 Eddv, nres;dent.
"a x y,ca nrasidant. = Z
$3.50,