davidaulloa/AmericanStories huggingface dataset:
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02
THE FIRST DISTRICT ALSO.

Grand Forks, Dec. 27.-Senator
Hansbrough seems to be pretty nearly
the whole thing in senatorial way.
After the unanimous endorsement of
the Seventh Judicial district Tues
day the situation looked decidedly
favorable to him, and to increase his
apparent lead over all other candidates
the legislators elect of the First judi
cial district have also declared them
selves for the senator
The district is composed of Grand
Forks and Nelson counties and thirteen
of the fourteen members uf the legis
lature met here last evening. There
was discussion of the needs of the
district as whole and then the
speakership matter was taken up.
The mem pers of the lower house voted
unanimously to endorse Thos. Baker,
Jr., of Fargo, and he will be given
the entire vote of both county de-
legations. The friends here Of Mr..
Baker are very much pleased with
the results and feel convinced that he
will be elected speaker without the
least struggle.
After disposing of the speakorship
matter the question of U. S. senator
was discussed and the Grand Forks
delegation voted to man to support
Senator Hansbrough. One Of the
members of the Nelson county dele
cation also declared himself for Hans
broush, uneqrivocally. Two other
stated that set of ''fim fam" reso-
lutions had been passed by the legis-
lative convention in Nelson instruct
ing the delegates to vote for NJ. N.
Johnson, and in view of that they
would give him complimentary vote.
Personally, it is said, that both men
favored Hansbrough, but saw that he
did not need their support to win.
An enthusiastic admirer of Senator
Hansbrough announced last night that
the present incumbent has lead pipe
cinch on the support of seventy eight
members Of the legislature, with six
others reasonably certain, and lot of
others who are beginning to Chamber
onto the band wagon
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02
HANsBRoUGH AND BAKER.
Were Endorsed By Two Judicial District
Last Week.

r.
Grafton, Dec. 49, The legislative
delegations from the Seventh Judicial
district, which includes Walsh, Penn
bina and Cavalier counties, held a
conference here today At the gener.
al conference the Democratic members
were present, and the matter of need
ed legislation was discussed.
The general conference was followed
by conference of the Republican
members of the district. Fourteen
out of the seventeen Republican sena-
tors and representatives were present,
and the absent ones sent word that
they would abide by any action taken
by the delegation in conference. A
set of resolutions were adopted, en-
dorsing the candidacy of Senator H.
G. Hansbrough for re election and that
of Thomas Baker, Jr., of Fargo, for
speaker of the house of representa-
tives. The conference was an har-
mopious one throughout, and the en-
tire delegation sat down to banquet
at the Merchants hotel at $50.
Among the gentlemen who made post
prandial speeches were Senator Jud-
son LaMoure, of Pembina; Senator j.
L. Cashel, of Grafton and other mem
bers of the delegation.
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02

ATE INTEREST AND THE
SENATORSHIP.

Lisbon Free Press: We have no
doubt whatever that great majority
of the Republicans of the state favor
the election of Senator Hansbrough.
They know that his efforts have been
beneficial to the state and the country;
that he stands we'll with his
colleagues, and the administration
that he is close friend of President
Roosevelt; that his past experience
makes his future services valuable to
North Dakota; that, belonging as j 9
does, to the rank and file, or, as
Lincoln termed it, to ''the common
people, +" his tendencies ana sym
pathies are in accord with all those
things which concern our state and
our people; that no man, on the score
of capacity to achieve results, can take
his place in less than eight or ten
years, no matter what the man s
ability may be, and they will expect
our Legislators to carefully weigh all
these facts and then act upon their
best judgment We have no doubt,
then. that the verdict will be in favor
of the return of the senior senator.
This, it seems to us, is reasonable
view Of the situation, and it must ap-
peal to the good common sense of
thoughtful people. The high standing
of our state at the nations capital
should not be sacrificed because few
ambitious gentlemen of the clark
horse order have persuaded them
selves that the country is crying for
their services at Washington. The
position of senator should not be kick
ed about as football to the detriment
of our proud young commonwealth.
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02

the senators and representatives of the
Second judicial district, requesting
meeting at Rugby today. The meet
ing was held here today and 10 of the
"a senators and members were present.
It was found that the members from
Ward, Pierce, McHenry and Benson
counties, comprising of the IS Re-
publican house members, were for
Young for speaker. No one was en-
dorsed for senator. A careful poll
of the Second judicial district made
here today gives Hansbrough Z votes,
Judge Cowan s, and M. N. johnson s.
This does not include the four Demo
Gratis from the Second, viz, Senator
Macarthur, from Bottineau, and Re-
presentatives Peterson and Harvey,
from Towner, and Borasso from
Rolette county. The Cowan and
johnson votes will probably go to
Hanna should it appear that neither
johnson nor Cowan can land"
1t is claimed by those on the ground
that Maj. Murphy, of Minot, sent the
above dispatch h before the caucus was
held. Young's name was not brought
before the caucus for speakership,
Baker being unanimously endorsed.
Hon. H. c. Hansbrough was un-
animously endorsed for senator.
While it is true that Judge Cowan
was in Rugby laborine very indus
triously to that end, his name also
was not mentioned in the caucus.
Maj. Murphy's hot air telegram
simply shows how hard the Hans
brough opposition is dying in the
Second judicial district.
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02
THE SECOND DISTRICT.
Unanimously Endorses Hansbrough and
Baker

The members elect of the legisla-
ture in the Second judicial district
comprising the counties of Ramsey,
Towner, Rolette, Benson, Pierce, Nc
Henry, Bottineau, Ward and Williams
met at Rugby Tuesday evening.
There were 10 members present, person
ally or by proxy, out of the "A. The
needs of the district were fully dis
cussed and all agreed to stand together
for any legislation beneficial to the
district. The division Of the judicial
district into two parts received the
unanimous endorsement of all present.
The members of tho house then
caucused on the speakership and
Thos. Baker, of Fargo, was the choice.
The senatorial question then came up
when five Scandinavian members stat
ed they were for M. N. johnson and
would not pledge themselves to vote
for any other candidate. These five
withdrew from the caucus, after which
resolution endorsing the candidacy
OF Senator Hansbrough, was passed
without dissenting vote. The fol-
lowing telegram in the Grand Forks
Herald is misleading:
Rugby, N. D., Dec. 30.-On Dec.
26, a letter signed by R. A. Fox,
state senator from McHenry county,
and Davis and Watson, members of
the house from Ramsey and Bottineau
counties, respectively, was sent to all
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02
AN ACT OF JUSTICE.

Hunter, N. D., Dec. 27.-To the
Forum: AS the time approaches for
the assembling of our state legislature
some of the state press and our politi-
clans become more active in the ex-
preston Of their opinions of the elec-
tion of United States senator and
favorite sons are mentioned from
different parts of the state, but few of
our papers have comprehended the
great work done by our senior sena-
tor, Mr.. Hansbrough. Not since the
close of the civil war has measure
been passed by congress of so much
Importance to the people of cur
country as Mr.. Hansbrough' s bill pro
viding for federal irrigation of the
arid lands of the United States; these
lands between our northern border and
the gulf of Mexico on the east side of
the Rocky Mountains embrace an era
of upwards Of 200, 900, 900 acres and
embrace territory larger than
France Think Of the craftsmanship
grasped by the man who comprehend
ed the grand possibilities of adding
400, 900 square miles in the very heart
of our country, we'll watered by irri-
cation at government expense, for free
homes for Americans.
One who has travelled over this vast
tract of arid land covered with thin
coating Of bunch grass knows of how
little value it is for homes, but by
irrigation it will support vast popu-
lation that will be of more importance
to America than hundred archipe-
lagos like the Philippine islands.
Already S15, 600, 600 have accumulat.
ed in the national treasury for irriga-
tion purposes, by virtue of the passage
of this irrigation law. Who is as
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02

Continued on Page y
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02

70 uosd Under ss Sane Hanagsnsat
Interest Allowed on All Sums of One Dollar and
Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1903-01-02
st NATIONAL BANK

Capital, 100000. Surplus, 100000.
A. O. wHJpPliE President. H. E. BAIRD Vic. Preside,
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

In 1865 J.. K. Sidle reorganized the
business under the name Of the Min
neapolis bank, and shortly after
wards, taking advantage Of the pas
sage of the national banking law,
started the First National bank Of
Minneapolis, with the same capital,
officers and business. The First Ma
tional is therefore the oldest bank in
the city under it's present name.
Banking Development After the War.
From 1865 to 1878 there was al
most abnormal progress in the north
west. Railroads were being construct
ed in every direction; flour milling
was making great strides in response
to- the rapid increase in farming oper-
atoms; lumber saving kept pace with
q constantly accelerating demand; and
general business fourished. To meet
the necessities Of business, banks null
tiplied and constantly increased their
capital. Deposits accumulated with
such speed and the opportunities for
the use Of money were so numerous
that the wonder was that so con-
sentative a class of banking institu-
tons should have grown up in the
young town. During the war the
banks successfully withstood a severe
stpsin. Upon the conclusion Of the
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

1890 the capital was stated as $685.
600. This amount was considerably
increased in the next few years, but
was again reduced after the financial
reverses of 1898, and has since been
maintained at more conservative
figure. The present capital stock is
about $6,000,0O0, but surplus accounts
bring the total up to about $8,50O,00O.
During the current year one bank has
increased it's capital stock by $1,000
900, and its surplus by $7b0,O00 at
the same time.
The Story of the Clearings.
The Clearing House association was
organized late in the year 1880, and the
first record Of its transactions Is for
the year 1881. In that first year the
clearings were $1e.4s7,650. In 1888
they had reached $87,56S,000, and in
1885, 100000. The year 1890
found them at $303.0O0,00o; 1895,
$372,00O,000; 1900, 100000; and
in 1902, $720,752,331. A number of
larger cities have records of clearings
of much smaller volume.
The Trust Companies.
The last quarter century also
brought the trust companies into the
financial life of the city. When T h g
j Journal was founded, in 1878, the
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

National, the German-American, and
other lesser institutions. The private
clearinghouse of Hill, Sons &, Co. was
established in 1891. In fact, too many
banks were organized. Some of them
were formed by men lacking expert
ence; some had too little backing; a
few were absolutely irresponsible.
Subsequent events brought about the
natural results. The weak and I'M
wisely conducted banks were weeded
out in 1898; the strong and we'll
managed banks lived thru the depres-
sion and have prospered apace.
The Banking Center Changes.
Very interesting has been the change
in the center Of banking business. AS
stated above, the center in 1873 was
at Washington and Hennepin avenues.
For a time there was a tendency to-
wards scattering, as banks for the out
lying districts were organized and new
central banks sought to supply the
needs of certain classes of business.
The Flour City National bank went
into the Lumber Exchange building;
the National Bank of Commerce start
ed business in the Chamber Of Com
merce building at Third street and
Fourth avenue S. But the need of
! Capitalization became more apparent
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

dent, and T. j. Buxton, long promi-
nent banker Of the city, was it's CASH
Ter. In 1870 the First National Bank
of ST. Anthony was formed and sub
sequently became the Merchants Ma
tional Bank of Minneapolis.
The year 1872 saw the founding of
the Northwestern National bank. It
commenced with capital of 100000.
The late Dorrilus Morrison was the
first president. In the centennial year
of 1876 the Citizens bank was added
to the early list of Minneapolis f1nan-
cial institutions. The Hennepin
County Savings bank was founded in
1870, and the Farmers and Mechanics
Savings bank in 1874.
Banking Conditions Is Years Ago.
But when The Journal was
founded, in 1878, banking in Mime
apolis was still in its infancy. Eight
banks were in existence, but most of
them were small, and their total
available capital was less than $4,000
900. The year was notable as that of
the organization Of the Security Bank
Of Minnesota, with a capital of $780,
900. T.. A. Harrison was the first pres
ident of the Security, his brother, H.
G.. Harrison, was the vice president
and Joseph Dean was cashier. The
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

Third and Hennepin. The Northwest
ern National was at First avenue S
and Washington, and the Farmers and
Mechanics Savings bank at Nicollet
and Washington. The only bank in
the city outside Of the immediate vi
cinity. was the Citizens, which was at
Washington and Fifth avenues S. N.
r. Griswold was it's president, and
George B. Shepherd it's cashier.
Very few Of the men who were
prominently identified with banking in
1878 are still in the business here. f.
A. Chamberlain, president, and Perry
Harrison, vice president, of the Secur-
ity bank were then employed as mes
sengers. J. E. Bell, then cashier Of
the Hennepin County bank is now it's
president. w. H. Lee, now cashier
of the Hennepin County bank, was
then a clerk. He commenced with the
bank in 1874 and shares with Mr.. Bell
the honor Of having been continuously
in the business for more than thirty
years. S. A. Harris was, in 1878, the
assistant cashier Of the Hennepin
County; he is now president of the
National Bank Of Commerce. Fred
Smith, who was employed in the City
bank, is now cashier of the Swedish
American National. 2. II. Moulton was
then, as now, the executive officer Of
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

adequate banking laws, and the earlier
attempts to supply the banking needs
of the young community were in the
main made by men engaged In other
lines of business, whose purpose was
to meet the urgent demand for such
facilities as the merchants required.
None Of the earlier banks had a fixed
capital. They received deposits and
issued exchange. but their operations
were extremely crude. Most OF them
went under during the financial panic
of 1857.
Messrs. Farnham and Tracy shared
this fate, tho they have the credit
of having paid their obligations in
full Old records show that banks
were maintained during the middle
fifties by .Orrin Curtis, B. D. Oor-
man, Graves, Towne & Co., and Rich
ard Martin, on the East Side, and by
G. H. Petit and Snyder & McFarlane
on the West Side. Beede & Menden-
hall established themselves in 1856.
and Rufus j. Baldwin started bank
in the old Cataract house in 1857; and
during the same year Sidle, Wolford
& Co. opened a bank In the then new
iy erected Nicollet house. It is said
@G these days that the ruling rate OF
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

the Farmers and Mechanics Savings
bank.
In 1873 there was no clearing
house. Exchanges were collected by
messengers.
Features of tho Last Quarter Century.
The first notable advance made by
the Minneapolis banks in the period
Of the life Of The journal, was
the organization Of the clearinghouse.
This occurred in 1880. Minneapolis
banking affairs were at once brought
up to the standard Of the larger cities,
and the clearings were reported and
the city <classed as one of the financial
centers Of the west.
With the growth Of the CITY, and
especially with the truly marvellous de-
lvelopment Of the early eighties. bank
ing expanded enormously. Within a
few years number Of new banks
were organized, while old ones piled
up capital to meet the needs Of the
time. The Union National, National
Bank Of Commerce. Scandal and Com.
mercial banks were started In 1888
and 1884. Soon after came the Nicol-
let National. the Flour City National
the Peoples, the Swedish-AmertcaI
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

as time went on. and for several years
past there has been a steady move
ment towards the corner Of Fourth
street and First avenue 8. About q
dozen Of the leading banks and other
financial institutions are now within
500 feet of this corner.
Banking Houses Erected.
Another very significant development
OF later years in this quarter century
has been the movement towards the
erection Of banking buildings of a
permanent character and as the prop
erty Of the institutions which they
house. The Farmers and Mechanics
Savings bank, the Swedish
and the National Bank Of Commerce
occupy their own buildings; while the
Northwestern National bank is now
erecting what will be the finest bank
ing-house In the northwest.
Increase of Bank Capital.
When The Journal was found
ed the total capital Of Minneapolis
banks was less than $2.00O,O00. AT
the close of 1884 the banking capital
was reported as s5,210.000, with sur
plus and undivided profits enough to
bring the total up to elk millions. In
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

also made to establish a currency In
the form Of notes secured on the
state railroad bond issue Of 1883. The
utter collapse Of the railroad under
takings. however, and the subsequent
reputation of the bonds brought ruin
to the bankers who had tried this
solution Of the question
Beginnings of Permanent Banking
System.
Statehood and the adoption Of bank
ing laws and the passage of the ma
tional bank act brought about bet
ter condition Of affairs. At the same
time the panic cleared the at
mosphere. The bankers who had de-
veloped staying powers pulled them
selves together and in the early sixties
the foundations Of the older banks OF
the present day were laid.
r. J. Mendenhall and Rufus j
Baldwin in 1868 bought out the State
Bank Of Minnesota Of Austin, and, re-
moving it to Minneapolis, founded g
banking institution which was the vir.
tual beginning Of the present Security
Bank Of Minnesota In the same way
the First National bank grew out Of
the business OF Side. Wolford & Co
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

struggle they took advantage Of the
reaction and made large but legit-
mate profits.
The first new bank to be organized
in this period was the National Ex-
change bank, which began business in
1867, with a capital Of $4,000, and
H. Miller Of Troy, N. z, as presi-
dent, and W. P. Westfall, cashier.
Eight years later its business was
wound UP with all depositors paid in
full.
In 1858 the State Bank Of Mime
sofa, whose organization has already
been mentioned, was merged into the
State National Bank Of Minneapolis.
Its capital was 100000. r. J. Men
denhall was president and r. J.. Bald
win, cashier. T. A. Harrison, who was
destined to become most prominent
figure In northwestern banking. sue
ceeded Mr.. Mendenhall. and two years
afterwards Joseph Dean became cash
| Ter in place Of Mr.. Baldwin. When
the Security bank was organized in
1878 the business Of the State National
was transferred to the new institu-
ton.
The cid City bank was organized In
1859. J.. w. Pence was the first presi-
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

trust company idea was comparatively
new. Five years later the Minnesota
Loan and Trust company was organ
lied In Minneapolis by q. A. Merrill
and E. J. Phelps, the former being
president, as now, and the latter sec
rotary. It commenced business with
a capital Of 100000. A handsome
building was erected on Nicollet ave-
nue., where the company has continued
to do business for twenty years with
constantly increasing success and sat
isfaction to its customers and clients.
The Minnesota Title Insurance and
Trust company was formed in 1885,
and the Minneapolis Trust company in
1883. Other companies were formed
from time to time, but have all passed
out of existence.
The trust companies occupy an inn
portant place in the financial scheme.
Two of them now do general bank
/ Ing business.
Present Satisfactory Financial
Conditions.
The close Of the year 1908 finds the
banks Of Minneapolis in most satis-
factory state. Conservatism OF man
Iagemont and most excellent general
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26
LEADING EVENTS IN
BANKING AFFAIRS
Brief Sketch of Early Financial Struggles in
Minneapolis Banks and Bankers when The
Journal Was Founded Important Events
of the Past Twenty Five Years.

Banking in Minneapolis dates back
nearly fifty years. The first institu-
bon which was entitled to this name
was established in 1854, by s. w
Farnham and Samuel Tracy. It was
, strictly private bank" for in the
days Of tho territory there were nc
The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-11-26

interest was "3 per cent per month
and per cent per month after ma
turity." There was little available cur
rency, and at one time Indiana wild
cat"-as the notes of certain Indiana
banks were styled-was the chief cir
culating medium. An attempt was
The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1903-02-10
COLORED GIRLS
I'm ported to Serve as Oomes'
tics Near Akron Farmers
Take the Cue.

Akron, o., Feb. 9.-Twenty colored
girls have been brought from Tennes-
see by women of Paxton, a hamlet
west of Akron, to become domestics.
Now the Paxton farmers, taking the
cue from their wives, have sent to
Tennessee for twenty-five colored
farm hands. The innovation is de-
clared to be necessary in Paxton, as
so many of the young men have gone
to the cities in the past three years,
that the most ordinary labor is at a
high premium. Elsewhere in Summit
county the Paxton experiment is be-
ing watched with much interest, as
the negroes will be paid lower rate
of wages than farm hands in general
have received for several years.