hoff is one of the oldest private bankers in Chicago, and also one of
its highly esteemed citizens. He is a native of Prussia, being born
in the town of Ochtrup, on March 24, 1824. His father, Bernard
Niehoff, was a merchant, and owned considerable real estate. His
son was given a liberal education, graduating, in 1842, from a
seminary for public teachers, at Langenhorst, Westphalia, a pro-
vince in Prussia. In 1845, having determined to try his fortunes
in the New World, he came to America, and located in Ohio, near
Cincinnati. There he followed school-teaching, until 1850, when
he came to Chicago, which has since been his home. For two
years he was engaged in teaching a parochial school in this city,
after which he embarked in the wholesale and retail grocery trade,
as a member of the firm of Niehoff Bros., doing business on the
corner of North Clark Street, near Chicago Avenue. He was thus
employed until 1858, when he founded the business of which he is
still the head. He married, in 1860, Miss Catharine Jaeger,
daughter of Joseph Jaeger, of this city.
Snydacker & Co. — In 1858, a banking and real-estate firm
was established in Chicago, with the title of Eisendrath & Co.,
which comprised Nathan Eisendrath, Conrad L. Niehoff and God-
frey Snydacker. In 1S61, Messrs. Eisendrath and Niehoff retired
from the firm, and Mr. Snydacker took in his brother Moses as a part-
ner, under the firm name of Snydacker & Co. The firm continued
until January, 1S80, when Moses Snydaker died, and his widow,
Mrs. Bertha Snydaker, became nominally a member of the firm,
represented by her son, Alfred M. Snydacker! The firm name has
remained the same since 1861, and has been known throughout its
long existence as one that has never had any financial difficulties;
that has been conservative in its operations; and that has always
stood upon so sound a financial basis as not to be obliged to ask
any forbearance, and that acted so uprightly as never to require
any pardon from a wronged client. Until 1S78, or perhaps 1S79,
the house used to do a small banking business, but in that year it
gave up the deposit transactions and gave its exclusive attention,
in fiduciary matters, to mortgage banking. Snydacker & Co.
handle a great deal of suburban real estate, as well as a large
quantity of their own property within the city limits The firm
do a large business in caring for the property and business inter-
ests of non-residents, and have a large number of clients in Eu-
rope, who justly repose the utmost confidence and trust in the dis-
cretion and care that Messrs. Snydacker & Co. evince for their
financial welfare.
Godfrey Snydacker was born in Westphalia, Germany, on
September 7, 1S25, where he received his early education. After
leaving school he followed the profession of teacher, soon occupy-
ing the position of preceptor in a prominent German institute. In
1S53, he emigrated to New York, and two months later to Chi-
cago, of which latter city he has been a resident since. He was
preacher of the " Kehilath Anshe Maarab" (Congregation of the
Men of the West), and was also teacher of a day school for three years
in connection therewith, which was the oldest Hebrew Congrega-
tion in Chicago. But, discerning that in a city having the vast
promise of Chicago, commercial life was that in which large for-
tunes were to be made, he entered the grocery business with his
brothers Moses and Louis Snydacker, under the firm name of Sny-
dacker Brothers. In 185S, the Sinai Congregation was formed,
and he at once became a prominent member of the organization,
subsequently being several times made its president. He has been
a member of the Hebrew Relief Association for twenty-five years,
and for many years was on its executive committee, and is also
one of the trustees and secretary of the association for the rearing
and educating of Jewish orphans. Mr. Snydacker was also ap-
pointed German consul here in 1858, and filled that position for
several years in the most satisfactory manner.
Leopold Mayer. — The present banking house of Leopold
Mayer was established in this city on October 15, 1S55, by Leopold
Mayer and O. R. W. Lull, a well-known attornev of this city,
under the firm name of Lull & Mayer, with their place of business
at No. 106 Randolph Street, up stairs. In 1S5S, they removed to
rooms in the Methodist Church Block, and three years later the
partnership was dissolved by Mr. Lull's retiring from the firm.
The latter died, in 1871, being at that time a resident of Winnetka,
HI. He was a man of sterling worth and integrity, possessing line
abilities, and was universally esteemed. An idea of the mutual
friendship and confidence existing between the partners, may be
gleaned from the following facts. When the partnership was
formed, Mr. Mayer was possessed of but little capital, and Mr.
Lull furnished the funds, through his influence with prominent
capitalists in the East, to whom he became personally responsible
for their re-payment. On his retirement from the firm, he left this
money in the hands of Mr. Mayer, taking and asking no other se-
curity than his personal note. It is almost needless to add, his
confidence was not misplaced. Mr. Lull was an early settler of
Chicago. As a lawyer, he was a useful and highly esteemed mem-
ber of the profession. He was elected city attorney, in 1S49, and,
in 1855-56, was chosen as one of the permanent trustees of the
Illinois Savings Institution, which was organized about that time.
In 1861, Mr. Mayer formed a partnership with Raphael Guthmann,
under the firm name of Leopold Mayer & Co., which continued
until April, 1865. He then carried on business alone for three
years, when he formed a partnership with Henry Steiner this con-
nection lasting until the time of the great fire. When that catas-
INSURANCE.
635
trophe occurred Mr. Mayer was located at No. 46 LaSalle Street,
and here he was burned out. losing almost every dollar he pos-
sessed in the world. All his books, papers and accounts were de-
stroyed, besides $10, 000 in legal tender currency, and a considerable
amount in stocks, bonds and other securities. This was, of course,
a terrible misfortune, but to a man of Mr. Mayer's energy, it was
only a greater stimulus to renewed exertion. Accordingly, in
March, 1S72, he resumed business at No. 169 LaSalle Street, in the
Nixon Block, and here, with his extended acquaintance and past
record for fair and upright business dealings, he soon, in a meas-
ure, recovered from his losses, and entered fairly upon a prosper-
ous financial career. In 1875* he removed to Xo. 163 Adams
Street, to a building which he had himself erected, where he
remained about five years. Finding, however, that this location
was too far out of the business center of the city, in 1S80, he re-
moved to No. 7S LaSalle Street. lie now has associated with him
his son, Nathaniel A. Mayer, a young man reared and educated in
this city, and possessing fine business qualifications.
Leopold Mayer is a native of Germany, born in Abenheim,
near Worms, in the Grand Duchy of Hesse, March 3, 1827. He is
the son of Aaron Mayer. He was given an excellent education at
the Catholic Seminary in Bensheim, Hesse, fitting him for the pro-
fession of a teacher, which vocation he followed for four years in
that country, after completing his collegiate course. In 1S50, he
came to this country, locating during the same year in Chicago,
which has since been his home. His first work here was also as a
teacher, giving private lessons in German and Hebrew, and in
1853, when the Garden City Institute was established, he became
the professor of those languages in that institution, filling this po-
sition with marked ability until 1S55, when he, in company with
Mr. Lull, established himself in the banking business. Mr. Mayer
married, in 1S53. Miss Regina Schulz, daughter of Samuel Schulz,
of Germany. They have seven children — Nancy, now the wife of
Arnold Wolff, of this city; Nathaniel 'A., in business with his
father ; Rosa, married to Simon Klein ; Grace Aguilar, married to
Charles Vondorf ; Amelia, Ida and Flora.
Charles Kozminski & Company started in the banking busi-
ness in Chicago in 1S70, Charles Kozminski and Herman Felsen-
thal comprising the firm, and with offices in the Marine Bank
Building, on Lake Street. Having been burned out in the great
fire, they re-established their business on Canal Street, then re-
moved to West Washington Street, where Michael Felsenthal was
taken into the partnership; and, in 1872, again removed to the
Staats Zeitung Building, directly opposite their present office. In
1S75, Michael Felsenthal retired from the firm, which dissolved
nine years later. January 1, 1S85, the firm name was changed to
its present form, a real-estate and ocean steamship agency business
being done by the members. Until 1SS4. the firm had the
of the Hamburg-American Packet Company, but now it manage!
the direct Hamburg line and tin- Navigatione Generate Italiana
with control of all agents from Chicago to the Pacifi.
Charles Kozminski, the founder of the firm, was born near
Breslau, Silesia, in 1 S37. lie was educated in his native district,
and, at the age of sixteen entered the employ ol Goodman -V Co.,
in the grain commission business, in the capacity of cashier. After
following this vocation for two years, Mr. Kozminski .
America, engaging in Corning, X. Y., in the clothing line, and
remaining there until 1S56, in that and the general store business.
In the latter year, he came to Chicago with his employer; after-
ward lie started a grocery store at the corner of Wells and Monroe
streets. In 1S64, he transferred his capital to the dry-goods trade,
abandoning mercantile pursuits five years later to organize the
banking firm of Felsenthal & Kozminski, which was in existence
until January I, 1S84, when'the firm dissolved. Mr. Kozminski
then organized the present business under the firm name of Charles
Kozminski & Co. He occupies a high social position, and has
filled numerous offices of honor and trust, lie was t ho president
of the first German Republican organization started in Chicago,
called the Washington Club, and was elected president of the
B'nai B'rith, an office controlling the lodges of Illinois and six
other States. He is also Chicago trustee of the Cleveland < irphan
Asylum. He was, also, president of the Relief Assembly. At the
great fire, Mr. Kozminski worked in connection with Mr. Tims-
dale, the superintendent of the Chicago Relief and Aid Society.
Mr. Kozsminski has celebrated the twenty-fifth anniversary ol Ins
marriage to Miss Bertha Bergman. They have had \'\\e children,
all of whom are dead, except Maurice, now a member of the firm.
Maurice Kozminski, with the banking firm and steamship
agency of Charles Kozminski & Co.. was born in iSb3, in Chicago,
in the building at the corner of Wells and Monroe streets, where
his father laid the foundation of a successful business career several
years previously. He was educated in the public schools of this
city, attending one of the oldest of these institutions, until he
graduated to the High School. Being the only survivor of five
children, the demands of his father's business required his services,
and, at the age of sixteen, on June 16, 1S79, he entered the offices
of the firm, then located at 170 Washington Street. Shortly after-
ward, Mr. Kozminski made a trip to Europe, visi'ing his father's
native town of Breslau, Silesia, and there met Mr. Goodman, a
prominent operator on the Bourse, in whose employ his father acted
as cashier in 1853. He then perfected his practical experience in
the office by a thorough course in a first-class commercial college,
and is now a valued and enterprising factor of one of the oldest
steamship agency firms in Chicago.
INSURANCE.
With the exception of the commerce of this city,
there is possibly no interest which has had so vital a
connection with her welfare as insurance. Although it
was many years before the practice of underwriting
became general among the merchants, shippers and
residents, yet the custom at last obtained a firm foot-
hold, and, at the time of the conflagration of 187 1, the
residents of the city and those having destructible
interests here, were very generally insured. And it was
immediately subsequent to the fire of October 9, 187 1,
that the vitality of the insurance interests to those of
the city was developed, not alone in the re-imburse-
ment of the losses, but also in the leniency of some of
the great Eastern companies who were heavy creditors
of our scorched merchants.
Even as the payment of risks, matured and rendered
payable by the fire, rejuvenated numbers of citizens
who were losers by the fire, so the failure of other
companies proved fatal to other sufferers by their
insolvency. Hence it would seem, that of all places in
the world where a "sick child " of an insurance com-
pany could exist, Chicago would be the poorest place.
That this supposition is directly antagonized to the fact
it is unnecessary to state.
The first company to establish an agency in this
city was The Howard Insurance Company, of New
York, which appointed Gurdon S. Hubbard its agent in
September, 1 836, and the first policy issued was one to
Mr. Hubbard on his household goods * In this year
also The Chicago Marine and Fire Insurance Company
was chartered, the date of the charter being January
13 (vide Vol. 1). Other early agents, the precise date
of whose appointment is unknown, were David 1 [unter
and Elijah K. Hubbard. In 1837, Julius Wadsworth
was appointed agent of the Hartford Insurance Com-
pany, of Hartford, Conn., and that company has been
continuously represented in this city since that date.
On March 2, 1S39, the Illinois Insurance Company,
of Chicago, was chartered, and on February 26, 1S41.
The Phcenix Insurance Company, of Chicago, received
a charter, f
THERON Pakdf.f. was born on July Is. 1S17. in Herkimer
County, X. V., and cam. to Chicago in 1841, at the age of twenty-
four years. From 1S41 to 1S52. he was engaged in the -rain-trade,
warehousing and shipping, and while so engaged built the first ele-
vator in Chicago, which was operated by horse-power and a tread-
mill, and had a capacity ol about forty thousand bushels. In [842,
also, he was appointed agent for the Xorth-Weslern Insurance
* It is narrated that Mr. Hubbard was appointed agent for tl
Insurant.- C.iinpanv. .'! Hartford, Conn., in i |.. .11. 1 in that year wrote the
first policy in Chicago, or Cook i u 111., wasan agent at that time, he
must have been a sub-agent to some agency elsewhere.
+ It is nee.-ss.irv. an. I I o~t . I., a. kii..\vl./.ly;c the valuable and V01U
data furnish.-.l by C. E. Rollins, personally and by Ins article on In
The Argus for Novi mber, i88s.
6;6
HISTORY OF CHICAGO.
Company, of Oswego, New York, for which company he wrote
marine risks, thus being one of the earliest, if not the earliest, of
Chicago's Marine Underwriters, Mr. Pardee does not remember
having taken any life or fire risks during these days of primitive
Chicago and primitive insurance — in which business he remained
however for but a few years, retiring therefrom about 1S50. When
Mr. Pardee came to Chicago he came to act as agent for the line of
Troy and Oswego propellers, and was thus the first propeller agent
here. The "Vandalia" belonged to this line and was the first built on
the Lakes. Mr. Pardee severed his connection with the propeller
agency in 1S49. In 1S4S and 1S49, he was desultorily engaged
in the building of reapers, being then also one of the firm of
McCormick, Ogden & Co. About 1853, he left Chicago and was
engaged in banking at Bloomington, Illinois, being one of the stock-
holders and the cashier of the McLean County bank and, in 1S64,
returned to Chicago, where he has since resided, although he has
not been actively engaged in business. Pie was married in Rock
Countv. Wisconsin, in 1S45, to Elizabeth Lupton, and has three
sons— Rev. Luther Pardee, of Calvary Episcopal Church; Frank
Pardee and Harry T. Pardee.
In 1842. R. C. Bristol became the agent of the Pro-
tection Fire Insurance Company, of Hartford, Conn.;
which company subsequently appointed Gurdon S.
Hubbard its agent. He took Charles H. Hunt, formerly
his clerk, into partnership with him, under the firm name
Hubbard & Hunt, in February, 1859. This firm existed
until March, 1867, when it became Hunt & Goodwin
Jonathan , which was changed to Goodwin & Pasco
Henry L.) on July 1, 1S70, Charles H. Hunt having
died in that year, and thus dissolved the firm. In Octo-
ber, 1874, Jonathan Goodwin was the sole agent, and
Mr. Pasco died in 1882.* An anecdote concerning
this company may be inserted here:
On October 11, 187 1, E. J. Bassett arrived in the
city to adjust the losses of the company, and, with E. P.
Dorr, went to the office of the Tribune to write an
advertisement stating that the general agent of the
company was here for that purpose. He wrote a lengthy
screed on a pine shingle and handed it to Horace White,
who asked; "What is all that advertisement about?"
"The .Etna is going to pay dollar for dollar," replied
Mr. Goodwin. " Well then say so," said Mr. White; and
the periphrastic advertisement was condensed to that
simple statement.
About 1842, George W Dole also wrote policies for
some companies unknown.
In 1844, as stated in the directory for that year,
the insurance agents were Julius Wadsworth, R. C.
Bristol, Theron Pardee (the representative of the first
marine insurance company in this city, the North-
western, of Oswego, New Yorkf), George Smith &
Co., Gurdon S. Hubbard, J. 15. F. Russell, S. B.
Collins & Co., Augustus Garrett, J. T. Whiting, Benja-
min VV. Raymond and M. M. Hayden. The last named
gentleman was the agent of the Mississippi Marine &
Pire Insurance Association, which is surmised to have
been one of those institutions, under cover of whose
charter as an insurance company, " wild-cat " banking
was carried on.
In 1843, David Humphreys was appointed agent of
the Buffalo Marine Insurance Company. As contem-
poraneous information of business done by insurance
companies, the following extract from Mr. Rollin's
article will be read with interest:
" In i-jt- B. W. Raymond was appointed agent of the Con-
(ributionship, which company he represented till 1840; during that
time the premiums received by the company amounted to $942. In
September, 1846 Mr. Raymond was agent of the Howard ol New
York, continuing to represent it until 1850; the premiums taken in
at that time amounted to $6,326. In the same year I"- was agent
also of the Mutual Safety, resigning in 1848. The receipts ol this
•Th<: :\ 11 ' ' i-.. !. 'i b tli< ho Bii - .
t G Cliicaj ' ii' i "I tli- Wiscon-
sin Fire ft Marine Insurant ■. ■• ected upon the old char-
ier of the Chicago Marine ft Fin 1 ipany. See vol. 1, pp. 532-33,
company for the two years amounted to $3,81)6. P'rom 184610
1847, Mr. Raymond represented the Mutual Benefit Life Insurance
Company, of New Jersey. In 1S49, he was also agent for the
Lexington Fire, Life and Marine Insurance Company, of Lexington
Ky., which had at that time a paid-up capital of $269,000. In
1S50, Mr. Raymond retired from insurance to take charge of sev-
eral railroad interests."
In 1845, the list of agents given as of 1844 was
augmented by I. H. Burch, Garrett & Seaman, and the
firm of Wadsworth, Dyer & Chapin, comprising E. S.
Wadsworth, Thomas Dyer* and John P. Chapin. The
Mutual Life, of New York, was first represented by
John C. Dodge in this year.
Charles II. Ferguson, agent of the Mutual Life Insurance
Company of New York, has been connected with the agency in
Chicago since June, 1S76. In 1873, he was appointed genera]
western agent for the Oswego and Onondaga P'ire Insurance com-
panies, prior to which he had been in the district agency of the
Mutual Life, since 1S67, with L. C. Mann & Co., at Auburn, N. Y.
Prominent among the names of the trustees of the company Mr.
Ferguson at present represents, was that of General Anson Stager of
Chicago, and conspicuous among the names of the directors was uiat
of F. S. Winston, who was president of the company from 1853,
when it had but $2,000 000 of cash assets, until 1884, when its cash
assets were over $100,000,000. The following exhibit of the risks
paid by the Mutual Life in this city, during the past four years,
sufficiently testifies to the stability of the company ;
1S80 — Death losses $214,032 58
Endowments 25,364 13
— $239,396 71
1881 — Death losses _. $159,452 94
Endowments _ 37,624 95
- 197.077 89
1882 — Death losses $115,513 15
Endowments 45,916 65
161,429 80
1883— Death losses $7S,434 32
Endowments - 47,266 95
125,701 27
Total.... $723,605 67
Average per year. iSo.goi 42
In 1846, the Mutual Benefit Life, of Newark, N. J.,
first appointed an agent (B. W. Raymond) in this city.
In December, 1847, the Connecticut Mutual Life
Insurance Company of Hartford, Conn., appointed its
first agent in this city, S. N. Stebbins. The first policy
issued, was on the life of Charles H. Quinlan, in that
month and year.
In the directory for 1848, there only appear the
names of the following agents: John C. Dodge, insur-
ance and canal agent: Julius White, Zebina Eastman,
J. B. F. Russell and T. S. Morgan.
Julius White first came to Chicago in 1S36, but did not do
business here until 1S4S, when he engaged in the insurance busi-
ness, and became very prominent in that fraternity, being presi-
dent of the Chicago Board of Underwriters in 1854. In 1S54, he
compiled a system for estimating exterior fire-hazards, embodying
diagrams and classifications of risks, that became to some extent a
standard for reference by the guild. He was engaged in fire insur-
ance from 1850 to 1861, and in the life and accident branch from
1864 to 1S72, during which latter year, he discontinued insurance,
and went into the real-estate business.
On February 12, 1849, the Chicago Savings and In-
surance Company was chartered; presumably identical
with the Chicago Temperance Saving Association,
noticed in vol. 1, on page 535. During this year also the
necessity for combined action relative to classification
of risks, amount of insurance thereupon, and general
business comity led to the establishment of a Hoard of
Underwriters. The following is an excerpt from The
Argus, to which paper it was furnished by Thomas
Buckley, an old Chicago underwriter:
Chicago, 3d December, /cvy<;
\i .1 meeting of the Hoard of Underwriters of Chicago, it was
Resolved, Thai the annexed Rules and Regulations be
INSURANCE.
637
adopted, and that the General Rules laid down at the convention in
New York, in September last, be acknowledged tor their guidance,
Geo. W. Dole, President.
John C. Dodge, Secretary.
GENERAL RULES,
i. In all cases where the rates are not specific, where wooden
buildings adjoin blank walls of brick buildings, ten cents additional
to be charged on each wall so adjoined. When there are openings
in the wall, such additional charge to be made as will equal the
hazard therefrom.
2. Lease-hold interests shall not be covered to exceed three-
fourths of their actual cash value, and a statement of the precise
nature of such interest shall be required of applicants in all cases.
3. No agent shall surrender the regular fee for policies, nor
offer any pecuniary inducement to obtain business, and the fee for
the policies shall not be less than $1.
4. A meeting of the agents shall be held at least once a month
for the purpose of consultation and agreement in the matters of the
business of their respective agencies, of furnishing each to the
other memoranda of the risks of each expiring within the month
next ensuing, with the rate of premium now charged, as well as
the rate proposed to be charged under the new tariff ; to concert
measures for the detection and conviction of incendiaries; and to do
such other things as will add to the safety of their operation and
secure harmonious action among themselves.
5. In all cases where the rates are not fixed by the following
tariff, and one not provided for by agreement between the agents
themselves, reference shall be had to the foregoing rules and to the
tariff and regulations adopted by the convention held in the city of
New York, in September, 1S49; and in all cases where local rates
have not been acted upon, it shall be the duty of agent to fix the