Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1915-09-01
MARSHALL COUNTYS TWENTY
FIVE BANKING HOUSES
Capital, $355,OO0; Surplus and Profits, $15475O
Deposits, $685. Per Capita Wealth, $1s5.7s.

~ HE story Of the wealth of the produc
ing soil Of Marshall county since it
Il organized, February rs, 1879, is almost I'M
believable. 1t is story of soil fertility and
the frugality of the pioneer settlers, who
here to carve out homes in the then little
known Minnesota Red River Valley. Coincdent with
the influx of town builders and home seekers
came the Great Northern Railway in 1875 which gave
a lure Of opportunities to the who had come
to make start in the battle of life. How well
these pioneer settlers succeeded is told in the figures
covering the twenty-five banking Institutions that
make up the financial strata of Marshall county today
These banks have aggregate capital of $355,OOO;
surplus and profits $154750; deposits $3,035,290
January list, 1915. In 1910 the deposits were
S2,366,945.67 which is an increase in five years of
S34433 This increase in the deposits of the Mar
shall county banks represents the true basis Of
perity in the trading centers and the farms There
is probably other county in the state the middle
west for that matter, that has made such large
aggregate Of wealth that revealed in these bank
deposits, which, figured the basis Of Marshall
county's population of 1910, given by the United
States Census shows that there is per capita wealth
Of $1S5.7S for every man, and child in the
county, every dollar of which has been produced
from the wealth producing SOIL the very
Of farm lands best. The money in the
soil, and the surplus earnings taken from each
crop year has built ten flourishing towns, the
railroads, electric lights and water plants, town
halls, grain elevators, creameries, schools
colleges churches, wagon and automobile roads, brd
ges, and drainage system embracing eleven judi
5cial bitches of 900 miles.
The first bank of Warren was organized in July
1884 by L. Lamberson, who opened the Bank of War
with capital Of $10,O00 afterward increased to
$4,000. Mr.. Henderson erected the first brick build
ing in the city, in order to provide home for the
Bank Of Warren proving that he had prophetic vision
of what the future had in store for this farfamed
section of the Minnesota Red River Valley.
WARREN, COUNTY SEAT OF MARSHALL.
First National Bank, established 1901; w. F.
Powell president; c. A. Tular, vice-president; H. L.
Wood CASHIER A. B. Nelson, assistant cashier; capt.
al $4,000; surplus and profits $4,000; deposits
;s356,0O0.
State Bank of Warren, established 1892; Q. H.
Taralseth, president; H. L. Melgaard vice-presdent
c. A. Nelson, cashier; H. c. Mattson assistant cashier
capital $4,000; surplus and profits $4,000; deposits
S398,O00.
Swedsh-American State Bank, established 1906
c. Wittensten, president; John Dagoberg, vicepres
ident; Aug A. Johnson, cashier; F. c. Wittensten,
assistant CASHIER capital $4,000; surplus and profits
$4,000; deposits $206,200.
ARGYLE, MARSHALL COUNTY.
Farmers and Merchants Bank, established 1886; H.
L. Megaard, PRESIDENT P. I. Holen, vice-president;
O. /. Megaard, cashier; Hardin Holland, assistant
cashier; capital $4,000; surplus and profits $27990
deposits $4O8,0O0
First National Bank established 1901; N s..
Hegnes, president; F. Tiedt, vice-president; A. E..
Pffner, cashier; O. Henrcksen, assistant cashier;
capital 900; surplus and profits S27 500; deposits
$225,OOO
STEPHEN, MARSHALL COUNTY.
First National Bank established 1888; H. I. Yetter,
president; F. j. Sinclair, vicepresident; R. A. Whit
ney, cashier; C. A. Kenny assistant CASHIER capital
S25,OO0 surplus and profits $4,000; deposits $17O20O
Scandal State Bank, established 1901 capital
S10000 surplus and profits, $3.50; deposits $8892O
State Bank Of Stephen, established 1901; J. Gil
lespie, president; W. S. Campbell vcepresident; G. R.
Gillespie, cashier; c. H. Berge assistant cashier; cap
ital $4,000; surplus and profits $1,000; deposits
$4,000.
OSLO, MARSHALL COUNTY.
Citizens State Bank, established 1905; H. L. Mel
gard president, o. H. Taraseth, vice presidents ]. G.
Figenskau, cashier; capital $4,000; surplus and
profits $4,92O; deposits $167,21O.
First State Bank of Oslo, established 1905; capital
100000; surplus and profits 81 800; deposits $4,000
ALvARADO, MARSHALL COUNTY.
State Bank Of Avarado established 1906 L. NJ
Olson, president; M H. Sands, vice-president; F. r.
Dahlgren, cashier; w. F. Malm assistant cashiers cap
ita $4,000; surplus and profits $4,000; deposits
$186,63O.
Farmers State Bank, established 1905: o. n
Taraseth, president; H. L. Melgaard, vice-president
I. N Lodoen cashier; N. R. Lodoen, assistant cashier