The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-31
N1INNEf4Fpp 81. ISNEkzS

of great benefit to him in his after life.
Strangely enough the uncle to whom he
owed his start in life is now in the employ
of the Peavey Elevator company as a
wheat buyer, and has been so employed
for many years.
Two friends of his father, neither of
whom Frank knew at the time, resided in ]
Chicago. One was president of bank
and the other president of a railroad
company. The former one day sent him
an offer of position in the bank which
was accepted, and he shortly after was
promoted to succeed Mr.. Odell now presl-
dent of the Unon National bank of Chi
cago The work however, proved too
severe for him, and in the summer of 1866
he was compelled to resign on account
of i'll health, and return to his home in
Maine for much needed rest.
Goes Back to Chicago.
The following spring, however, saw him
again in Chicago but at that time there
were thousands of men in Chicago seek
ing employment and young Peavey found
work scarce. He, however, found work
in a dry goods store where he was en-
ployed for S. per week. This was only
makeshift and in about two weeks he
met p. b. Weare, who found him posi-
ton in Sioux City. He had to borrow
4
get from Chicago to Sioux City. The
position was bookkeeper in a local Bank,
which he held for four years and then
| resigned to help organize the firm OF
Booge, Smith & Peavey, dealers in agri-
cultural implements. The year follow
ing fire destroyed the building occupied
by the firm and Mr.. Peavey found his
entire savings swept away, and he had
to borrow S20o0 to make good his loss.
Thus again he was left without a cent
and in debt, but he was not discouraged.
Within few months he succeeded in
| reorganizing the firm under the name OF
Evans & Peavey. Three years later he
| bought out his partnr and began accept
! ing grain in payment of agricultural i'm
plements, and from this beginning he built
up the largest business of it's kind in the
world.
| In 1872 he married Miss Mary d.
| Wright, daughter of United States Sena-
| tor George G. Wright, of Des MeineS, and
| the young couple made their home in
| Sioux City where Mr.. Peavey had his
| business. In order to properly care for
| his increasing grain business Mr.. Peavey
| built a small elevator in Sioux City, and
! it stood there for years, bearing the
| name of Frank H. Peavey in immense
| letters on its side.
Moves to Minneapolis.
pauy was opened up in 1875 and Mr..
| Peavey began buying wheat along its en-
! tire line and his business increased so
| rapidly that he was soon forced to turn
his surplus over to the Minneapolis Mil
lers association In a short time the
grain firm of Peavey e. Evans was re-
| organized under the firm name of F. III.
Peavey & Co. E. c. Mitchner became
| associated with the firm, and he at once
came to Minneapolis to establish head
quarters. Mr.. Peavey remained in Sioux
| City, where he had other large inter-
ests outside of the grain business, but in
| 1884 he decided to follow his partner to
| Minneapolis. This removal was neces-
| sary on account of the large increase in
| the grain interests at this point.
| Minneapolis being the natural distribut-
ing point for most of the grain of the
| Dakotas and Minnesota, he realized the
| advantages which would accrue from a
| single company controlling vast system
| of elevators throughout the Northwest
| with terminals in this city. The capacity
| of elevators and warehouses interior and
! terminal operated by the Peavey COM
| pany is today considerably in excess of
| 1885, go bushels. The company operates
elevators along the Northern tactic,
! Chicago, st Paul. Minneapolis & Omaha.
Minneapolis & st. Louis and Chicago,
Milwaukee & st. Paul railways.
| Mr.. Peavey believed In helping those
| who helped themselves, and in 1896 he
made a proposition to the newsboys Of
| the city of Minneapolis, that for each
| one of them who deposited one dollar
| in the Northwestern bank before Jan.
| Is he would add an equal amount, and at
| the end of three months succeeding by
depositing another dollar he would re-
| peat the gift, and at the end of the year
each boy who had deposited $
| would be given an amount equal
to it, making IS for the years
savings. Mr.. Peavey afterwards
extended a like offer to seventy-five tele-
graph messenger boys and seventy-five
additional boys all from Minneapolis.
Some years ago Mr.. Peavey erected a
library in memory of his father at his
old home in PASSPORT, Me. 1t is called
the Albert d. Peavey Memorial library.
It was rule of Mr. Peavey's business
life never to embark in new enterprise,
or take any shares in a new company
unless he could control it, The only ex-
ceptions to this were in case of railroads
or bank stock holdings, and even here
he was on the directorate The following
is the list of the Peavey properties:
| Peavey Elevator company. Interior Ele-
vator company, Monarch Elevator COM
pany. Duluth Elevator company, Globe
Elevator company, Belt Line Elevator
company, Midland Elevator company,
Omaha Elevator company, Peavey
Grain company. Rubins Grain company,
Peavey Duluth Terminal company, North
American Investment company, North
ern Nebraska Land and Improvement
| company, Logan Valley Land company,
Interstate Land company, Iowa Townsite
company, Peavey Steamship company,
Cable Piano company
Mr.. Peavey was director Of the Min
G e. o1If 10 Mar
railway, c. G.. w. railway and the
Northwestern National bank, of Mime
apolis He was also chairman of the
finance committee having in charge the
building of the new Chamber OF Com
MERGE Although a leading member of
the Chamber of Commerce he was rarely
seen on. the floor, leaving that work en-
t;roIx- IN his S1lhordinateS