present location on the northeast corner of Second
and Pine Streets.
The officers of the bank for 1882 were Rufus J.
Lackland, president ; George S. Drake, vice-president ;
William H. Thomson, cashier ; Directors, Lawrence
L. Butler, Samuel Cupples, George S. Drake, Theo-
dore Forster, Carlos S. Greeley, William A. Harga-
dine, Rufus J. Lackland, Adolphus Meier, E. C.
Simmons, William H. Thomson, Edwards Whitaker.
The semi-annual statement rendered Dec. 31, 1881,
showed the condition of the bank to be as follows :
Exchange matured 149,795.05 81,297,530.36
Bills receivable $4,847,534.47
Bills of exchange 519,369.28
Real estate 79,969.25 5,553,873.00
BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.
Capital stock $2,000,000.00
Surplus fund July 1,
Net earnings past six
months 126,157.72 $312,749.60
Dividend " No 15" $80,000.00
Bills receivable charged
off. 40.COO.OO 120,000.00 192,749.60 2,192,749.60
Deposits on time
Deposits on demand
Dividend "No. 15"(4 per
cent, on $2,000,000)....
The Germans' Savings Institution of St. Louis
was incorporated Feb. 25, 1853, with an authorized
capital of twenty-five thousand dollars, and authority
to increase the same from time to time at the will of
the directors to any amount not exceeding two hun-
dred and fifty thousand dollars, divided into shares of
fifty dollars each. The incorporators were Edward
Haren, John Kern, William Palm, Francis Saler,
Robert Barth, Joseph Degenhardt, George Busch,
Charles Wetzel, Adolphe Abeles, Frederick Bergesch, j
Lewis Bach, John Wolff, Edward Eggers, Louis
Hirschberg, Ernest C. Angelrodt. The institution
opened for the reception of deposits on Monday, May
23, 1853, the office being located at No. 35 Main
Street, between Chestnut and Pine Streets. It trans-
acts a general banking business, and solicits the ac-
counts of corporations, firms, and individuals. The
present capital stock paid up is $250,000, and there
is a surplus fund on hand amounting to $95,707.67. '
The board of directors for 1882 was composed of i
F. W. Meister, president ; Charles F. Orthwein, j
George H. Braun, John Wahl, Louis Fusz, William j
Koenig, J. G. Greer, Adolphus Boeckeler, and A.
Nedderhut. Richard Hospes is the cashier. The
bank is located in the Chamber of Commerce build-
The Provident Savings Institution was organ-
ized and incorporated in February, 1864, and was
originally intended to supply the need of a public
pawn-office, such as those which exist in Europe. !
The project did not, however, receive the support of
the public, and the institution was changed to a sav-
ings-bank, and continued as such until 1877, when it ;
was again changed to a commercial bank. Its charter i
authorized a capital of two hundred and fifty thou- i
sand dollars. The paid up capital is now one hundred
thousand dollars, and it is the intention of the man- i
agement to increase it to two hundred thousand dollars.
The incorporators of the savings-bank were Henry
Hitchcock, Carlos S. Greeley, Robert Holmes, Wil-
liam M. Morrison, George Partridge, George P. Plant,
S. A. Ranlett, and Levin H. Baker. The bank was
opened for business in January, 1865, having for its
president J. P. Doan, who served in that capacity
until 1872. He was succeeded by William Gresham,
who occupied the position until 1877, and was followed
by C. S. Greeley, who still retains the position. The
cashiers have been S. A. Ranlett, from 1865 to 1877,
and the present incumbent, Almon B. Thomson.
This institution was first located at the corner of Main
and Locust Streets, but removed to its present loca-
tion, No. 513 Olive Street, in 1867. The official
statement shows that it has a cash paid up capital of
$100,000, and a surplus fund of $4666.51.
The officers for 1882 were C. S. Greeley, president ;
William H. Thomson, vice-president; and Almon B.
Thomson, cashier ; Directors, William H. Thomson,
D. F. Kaime, Thomas H. Swain, James S. Garland,
Carlos S. Greeley, Lucien Eaton, S. A. Ranlett, and
A. B. Thomson.
The Union Savings Association was incor-
porated and organized Feb. 19, 1864, having for its
incorporators Gustavus W. Dreyer, T. B. Edgar, E.
0. Stanard, Henry Overstolz, Rene Beanois, John W.
Woerner, Alexander B. Moreau, Edward Wider, T.
M. Ellis, Thomas E. Souper, Ferdinand Meyer, James
M. Corbett, and John T. Tell. Thomas S. Ruther-
ford was elected president of the association, and was
succeeded by W. A. McMurray, who was followed by
Peter Nicholson, the present incumbent. The asso-
ciation has a paid up capital of one hundred thousand
dollars, and a surplus of twenty-three thousand seven
hundred and sixty-one dollars. The officers for 1882
were Peter Nicholson, president ; William A. Mc-
Murray, vice-president ; and Horace Ghiselin, cashier ;
Directors, Peter Nicholson, G. W. Updyke, W. A.
McMurray, S. G. Niedinghaus, John Scullin, H. C.
Wilson, J. W. Mortimer, A. Mansur, J. B. C. Lucas,
Charles H. Turner, D. A. Marks, G. A. Madill, and
Horace Ghiselin. The present location of this insti-
tution is at No. 322 North Third Street.
The Safe Deposit Company of St. Louis was
established in 1870, under a charter from the Gen-
eral Assembly of the State of Missouri, for the safe-
keeping of money, bonds, valuable packages, plate,
etc., and for the execution of trusts, absolute security
and privacy being guaranteed. The incorporators
were J. B. S. Lemoine, Eugene Jaccard, Robert K.
Woods, G. A. Hayward, John R. Lionberger, J. H.
Britton, James Harrison, John Byrne, Jr., Thomas
Howard, and Logan Hunter. In 1870 the safe de-
posit building, No. 513 Locust Street, now occupied
by the company was erected. The building is supplied
with the latest and most improved fire- and burglaj-
proof vaults, safes, etc., and everything pertaining to
the establishment is furnished with a view to safety
HISTORY OF SAINT LOUIS.
and durability. J. B. S. Lemoine was chosen presi-
dent in 1870, and continued as such for some years,
being succeeded by John R. Lionberger, the present
incumbent. The officers for 1882 were John R.
Lionberger, president; Edwin Harrison, vice-presi-
dent ; and G. A. Hay ward, secretary. The board of
directors remains the same as at the incorporation of
the company in 1870.
The Bremen Savings-Bank was incorporated Aug.
16, 1868, and began business Oct. 1, 1868. The in-
corporators were M. Brotherton, L. L. Ashbrook,
Horace Fox, Hermann Obrock, Christopher Crone,
August F. Reller, F. W. Prange, Henry Bakewell,
Henry Leder, John Maguire, Joseph W. Crooks,
Reiner Bueter, Samuel Stannard, and James Green.
M. Brotherton, president ; Horace Fox, vice-president ;
and C. D. Affleck, cashier, were the first officers.
The original directors were Christopher Crone, James
Green, Jacob Bitner, Henry Bakewell, Joseph W.
Crooks, Horace Fox, M. Brotherton, F. W. Prange,
August F. Reller, Henry Hahne, L. L. Ashbrook,
Samuel Stannard, and Nicholas Hatch. The capital
stock was originally 8100,000 ; of this only $30,000
was paid in, which grew to $125,000. In 1877 the
bank suspended for fifteen days, and reopened on
the 1st of August with a capital of $35,000. The
present capital is $70,000, with a surplus of $12,000.
F. W. Prange is president, and C. E. Kircher is cashier.
The directors are Samuel Marx, Charles Naber, An-
thony Nacke, Hermann Obrock, F. W. Prange, C.
H. Spencer, and T. T. Wurmb. The bank occupies
the original location, 3618 Broadway.
The Citizens' Savings-Bank was incorporated in
September, 1868. The incorporators and first di-
rectors were Joseph O'Neil, John Ring, David
Nicholson, R. W. Powell, M. H. Phclan, J. B.
Ghio, and P. P. Connors. Joseph O'Neil became
president ; R. W. Powell, vice-president ; and John
Schenk, cashier. The bank was first opened one
door from its present location, on the corner of Lo-
cust and Third Streets. The capital stock is two
hundred thousand dollars. Joseph O'Neill and R.
W. Powell have continued as president and vice-
president, and P. Gleeson is the present cashier. M.
H. Phelan, William Dooly, Daniel Cahill, Joseph
O'Neil, P. P. Connors, R. W. Powell, and J. B.
Ghio are the directors.
The Mullanphy Savings-Bank was incorporated
Jan. 16, 1873, by A. S. Allen, F. W. Buschmann, G.
H. Elbrecht, James Garnett, F. Heman, H. Klages,
George Lanitz, John P. Mullally, F. G. Niedriughaus,
J. H. Rottmann, F. A. Schuleuburg, A. Schulherr,
and Frederick Schwartz, and was organized with a
paid up capital of one hundred thousand dollars.
The incorporators comprised the original board of
directors, and the officers were A. Schulherr, president ;
Frederick Leser, cashier. The bank has always been
located at the corner of Broadway and Mullanphy
Street. The last annual statement, Dec. 1, 1882,
showed: Assets, $675,276.72; surplus fund, $38,-
089.54. The present officers are John H. Rottman,
president ; G. H. Elbrecht, vice-president ; L. G.
Kammerer, cashier; Directors, H. C. Benning, G.
H. Elbrecht, C. Kellersmann, William Kerksieck, E.
C. Little, Joseph Marks, John P. Mullally, Louis
Nolte, James W. Rosebrough, J. H. Rottmann,
Charles Schumacher, F. Schwartz, H. Klages.
The Northwestern Savings-Bank, corner of Four-
teenth and North Market Streets, was incorporated
May 15, 1873. The incorporators were Charles G.
Stifel, J. H. Evers, A. Peck, A. Bohn, John J.
Hilger, J. F. Heidbreder, B. Israel, H. Kobusch,
William Leffmann, Henry Pius, R. W. Rernmel-
kamp, Fred. Steinkamper, Charles Schulter, and P.
Obernier. The original and present officers are
Charles G. Stifel, president ; J. H. Evers, vice-
president; and P. Obernier, cashier. The original
and present directors are the incorporators. The
capital stock is fifty thousand dollars, and the surplus
is forty-seven thousand dollars. The bank has al-
ways been at the corner of Fourteenth and North
Miscellaneous Notes. In addition to the banks
and savings institutions whose history has been nar-
rated, many other financial institutions have been
established in St. Louis from time to time. Among
these are the following :
Mutual Savings Institution, chartered in 1863, com-
menced operations Feb. 6, 1854, with a capital of
$50,000. Deposits as small as five cents were received.
On time deposits six per cent, interest was paid. From
the 6th of February up to the 20th of December,
1854, the institution had opened seven hundred and
sixty-nine accounts, with deposits aggregating $66,-
Central Savings-Bank, organized in 1857 with a
capital stock of $50,000, subject to increase not ex-
ceeding $750,000. When the Central commenced its
career it was managed by the following officers : Henry
L. Patterson, president ; John H. Tracy, cashier ; Di-
rectors, Henry J. Spaunhorst, John Byrne, Jr., Peter
J. Hurck, John F. Slevin, Francis Lepere, Thomas
Ferguson, Hugh Boyle, Henry B. Berning, Redmond
Owing to imprudent investments the institution
collapsed, and on the 17th* of July, 1876, the direc-
BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.
tors executed an assignment for the benefit of the cred-
itors to E. T. Farish, attorney, and Charles Green,
real estate agent. Subsequently a committee was
appointed, consisting of Timothy Cavanaugh, Daniel
Cavanaugh, J. Dalton, Fusz & Backer, and Thomas
McEvilly. Subsequently M. H. Phelan was appointed
assignee by the United States Court. When the
estate passed into the bankruptcy court the following
statement of assets was submitted :
Notes discounted $338.381.55
Insurance debts and notes in suit... 276,969.11
Bonds and stocks
Notes discounted No. 2
Due from banks and bankers
Cash on hand July 6, 1876
There were 1228 creditors, representing a total
indebtedness of $844,673.07. The deposits consisted
of small amounts, chiefly ranging from 8200 to $1000.
Assignee Phelan succeeded in six years in paying off
twenty per cent, of this indebtedness in three divi-
dends, ten, five, and five per cent, each, which ex-
hausted the collected assets of the bank, amounting
to $160,000. The value of the assets shrunk to
insignificant figures, owing to the worthless nature of
some of the real estate securities.
The City Bank of St. Louis ; books for subscrip-
tion to stock opened at the counting-room of Lucas
& Simonds, March 18, 1857 ; incorporators, D. A.
January, William M. Morrison, Henry L. Patterson,
Charles D. Drake, John Simonds.
People's Savings Institution; subscribers notified
that ten per cent, of the amount subscribed was to be
paid on or before Tuesday, March 10, 1857, to Isidor
Bush, corner of Park and Carondelet Avenues, or to
Emil Ulrici, No. 53 Carondelet Avenue, between'
Barry and Marion Streets ; commissioners to receive
the first installments, John How, Waldemar Fischer,
Isidor Bush, Matthias Steitz, John Hogan, Henry
Pilkington, Emil Ulrici, Charles Taussig.
First Ward Savings Association ; books for sub-
scriptions opened March 14, 1857, at the office of
Thomas Allen, Decatur Street, and at J. P. Mack's
drug store; Commissioners, Thomas Allen, John C.
Rust, Stephen D. Barlow, Benjamin A. Soulard,
Rene Bouvais, James G. Stewart, Heber Livermore,
E. A. Burt, Patrick E. Burke.
St. Louis Building and Savings Association ; sub-
scription-books opened at the rooms of the Mechanics'
and Manufacturers' Exchange, on Chestnut Street
between Third and Fourth, March 9, 1857; incor-
porators and commissioners, Asa Wilgus, Clark J.
Morton, Peter A. Ladue, John F. Darby, William
Hassinger, George H. Moore, William M. Maurice,
Josiah G. McClellan.
United States Savings Association, organized in
1857, went out of business in June, 1879. The di-
rectors of the institution, which was then located at
Second and Market Streets, decided in that month to
close up the affairs of the bank, and to transfer its
accounts to the Mechanics' Bank, southwest corner of
Second and Pine Streets. This decision was caused
by the fact that the business was no longer profitable.
The officers at the time were Jacob Tamm, presi-
dent ; Theodore Sessinghaus, vice-president ; Charles
Kern, cashier. The directors were Jacob Tamm,
Theodore Sessinghaus, G. Wetzel, Charles Hegel,
Charles Kern, Henry Wiebusch, August Eichele,
H. D. Meyer, Herman Morell, Nicholas Guerdan,
and Otto Lademann. 1
Accommodation Bank, organized about 1864, was
located at first on Chestnut Street near Fourth, but
afterwards removed to the northeast corner of Chest-
nut and Third Streets. For some years the bank
transacted a flourishing business both as a savings
and discount association. Its president was Hon.
Erastus Wells, and the cashier William D. Henry.
The board of directors in 1867 was composed of
Erastus Wells, G. W. Dreyer, Col. Cavender, John
E. Liggett, of Liggett & Dausman, and Thomas V.
Strude, of Strude, Ruby & Co.
Real Estate Saving Institution, organized in April,
1867, was located at 72 North Third Street, above
Olive. Seven per cent, interest was paid on deposits,
and sums as low as one dollar were received. The
officers were : President, George K. Budd; Treasurer,
Francis Whitney ; Legal Counselor, John M. Krum ;
Trustees, William M. Morrison, John S. McCune,
John M. Krum, Thomas E. Tutt, Henry Whitmore,
Morris Collins, Charles A. Pope, Oliver A. Hart, R.
M. Funkhouser, George K. Budd, Edward Haren,
Sr., John B. Johnson.
Home Savings- Bank, established in May, 1867,
" for the accommodation of citizens at the northern
end of the city." The officers were E. D. Jones,
president ; James Hodgman, vice-president ; H. C.
Pierce, cashier, and E. D. Jones, James Hodgman,
D. P. Green, E. G. Obear, A. C. Osborn, A. H. Weber,
J. 0. Coding, G. W. Alexander, H. L. Parker, J. P.
Colby, John Crangle, W. L. Barker, and T. Sessing-
1 Augustus Beneke, cashier of the United States Savings In-
stitution, died suddenly in March, 1871. He had been a resi-
dent of St. Louis for twenty-two years, and was widely and
HISTORY OF SAINT LOUIS.
haus, directors. The building was located at the cor-
ner of Broadway and Jefferson Street.
Butchers' and Drovers' Bank, organized in June,
1867, with B. M. Chambers as president, and P. S.
Langton, cashier, was located at the corner of Fifth
and Morgan Streets, opposite the Union Market. Its
business grew to enormous proportions, and during
the great panic of 1873 it paid all checks as pre-
sented, but on the 14th of July, 1877, it ceased
operations. " The only reason," says a newspaper
announcement of the action of the bank officers, " as
given to us for the close was the imperative provision
of the new statute, which takes effect at the end of
the month, and which provides ' that when the capital
stock shall have become impaired to the extent of
twenty-five per cent, thereof by reason of bad loans
or otherwise, such corporation shall cease to do busi-
ness unless the stock shall have been made good by
assessment within sixty days.'
" The stock of the bank as subscribed is two hun-
dred and sixty-one thousand dollars, of which one
hundred and thirty thousand five hundred dollars is
paid in. Interpreting that the capital stock paid in
must be treated as the sum by which must be tested
the solvency of the bank, Mr. Chambers saw but two
alternatives for compliance with the law, either to
cease to do business or to call on stockholders, which
last within sixty days would not be possible.
" The Butchers' and Drovers' Bank was organized
in 1867 with a nominal capital of two hundred and
fifty thousand dollars, of which thirty per cent, was
paid in. From time to time dividends were declared,
and were credited to stock on the books until fifty
per cent, was paid up, making a working capital of
one hundred and twenty-five thousand dollars. The
bank did a flourishing business from the start, and,
in addition to a heavy list of large depositors, became
popular with small depositors, of which it had a host.
This gave the bank such a prestige that two years
ago, when only forty per cent, of the stock was paid
up, shares were selling at from seventy to seventy-two
per cent., or a little over seventy-five per cent, pre-
American Bank, established in November, 1867 ;
officers : President, E. Miltenberger ; Cashier, Wash
Barrow ; Assistant Cashier, F. Siebeumann ; Directors,
E. Miltenberger, Wash Barrow, Henry B. Berning,
William Druhe, J. F. Schiefer, John F. Tolle, Joseph
Uhrig, Jacob Blattner, Clingan Scott, C. F. Orth-
weim, L. W. Burris, J. 0. Banks, R. D. Lancaster.
German Bank, organized in 1869, was located on
Market Street, between Second and Third, but re-
moved to Fifth and Market Streets. It transacted a
large business, having at one time deposits amounting
to one million six hundred thousand dollars, and in
December, 1869, established a branch office in " Hie-
menz's new building, at the northeast corner of Caron-
delet Avenue and Carroll Street." On the 10th of
July, 1877, the directors made an assignment of all
the assets of the bank to Charles Gr. Stifel for the
benefit of the creditors.
Broadway Savings Bank, established March 4,
1869. Officers: L. S. Bargen, president; J. P.
Krieger, Sr., vice-president; J. P. Krieger, Jr.,
cashier. For some years the bank transacted a flour-
ishing business, but on the 21st of May, 1879, it was
compelled to suspend, owing to the sudden crippling
of its resources. Less than two years later (Jan. 17,
1881) its founder, J. Phil. Krieger, Jr., committed
suicide at the Western Hotel, corner of Carr Street
and Broadway, The cause of the act is indicated by
the Republican as follows :
"The bank had a good run of business and did fairly well,
although it is said to have experienced at least two financial
storms, both of which it weathered under the guidance of
Krieger, Jr., its cashier. On the afternoon of May 21, 1879,
the bank closed its doors. The directors had discovered a
slight impairment, and decided it was the wiser plan to suspend,
though Krieger, Jr., was in favor of making efforts to tide over
the difficulty. At this date the liabilities of the bank were
about seven hundred thousand dollars, and its assets were then
figured at two hundred and fifty thousand dollars. Mr. John
Dierberger first, and afterwards Mr. John Lionberger became
assignee. Public feeling over the matter of the failure ran
very high, especially as there was a widespread opinion that
Krieger, Jr., and one Mayer Goldsoll had conspired together to
help themselves in their own speculations by using the money
of the bank. The grand jury after a grand jural investigation
indicted Krieger, Sr., the president of the bank, Krieger, Jr.,
its cashier, and Mayer Goldsoll, a beneficiary of the institution."
North St. Louis Savings Association, established
April 2, 1860, the directors being A. E. Erfurt,
Franois Cornet, H. W. Winmann, John F. Wittee,
Caspar Stolle, C. L. Holthous, Julias Thamer, and
John C. Vogel. In 1864 the association reorganized
under a new charter, and commenced operations on
the 1st of February of the same year. Louis Espen-
schied was elected president, and John G-. Hermann
secretary. In 1866 the real estate at the southeast
corner of Fourth and Morgan Streets, part of which
was occupied by the building where the association
transacted its business, was sold at auction, and the
association having a fair surplus of profits, concluded
to purchase it, with a view to building a banking-
house on one of the two lots. The corner-stone of
the building was laid on the 3d of June, 1869. On
the 16th of July, 1877, the bank was compelled to
suspend and go into liquidation. At the time of the
suspension the officers were A. C. Erfurt, president ;
BANKS, AND OTHER FINANCIAL INSTITUTIONS, AND BANKERS.
E. F. W. Meier, vice-president ; H. H. Wernse,
cashier; J. H. Dickmann, assistant cashier; Di-
rectors, F. Barklage, Theodore Becker, Henry Cor-
net, A. C. Erfurt, Joseph Kilpatrick, E. F. W.
Meier, Frederick Schiereck, J. W. Schloemann, A.
W. Schulenberg, William Hake, F. A. Witte.
The cause of the suspension was the depression in
the real estate market.
Traders' and Mechanics' Bank, established in Oc-
tober, 1872, suspended in February, 1876. C. L.
Kraft was president at the time, and was subsequently
S. B. Bullock, for twenty-seven years a resident of
St. Louis, and for fifteen years a banker, died Aug.
Among the prominent bankers of St. Louis was ;
Capt. Mark Leavenworth, who died on Feb. 17,
1866, aged forty-one years. He was for a number
of years widely known as a river commander and
pilot, and for several years prior to his death was a
member of the banking firm of Gaylord, Leavenworth
& Co., of Olive Street.
The house of Donaldson & Fraley, brokers and
bankers, was established in 1868, at the corner of
Third and Olive Streets, where the firm has conducted
a general brokerage and exchange business ever since.
The house was established by John W. Donaldson
and Moses Fraley, both of whom are active members j
of the firm. A branch house in New York is com-
posed 'of Moses Fraley and Philip J. Goodhart, and j
transacts business under the firm-name of Fraley &
The Old Banking-House of James H, Lucas
& Co. In 1851, James H. Lucas established a j
banking-house in St. Louis, and in the following year
associated with him John Simonds, the firm-name
being Lucas & Simonds. Mr. Simonds was born on the
13th of March, 1800, in Windsor County, Vt. His
father removed to St. Louis in 1817, and for several
years filled the post of harbor-master, dying in 1839.
John Simonds received a common school education,
and in 1819 was appointed deputy constable. Two
years later he was made deputy sheriff, and in 1825
was appointed United States marshal, but owing to
his opposition to Gen. Jackson was removed in 1828.
He then became a steamboat captain, and between the
years 1828 and 1835 acted as commander of various
steamers on the Mississippi. In 1835 he established
a large commission house in St. Louis, and successfully
pursued this business until 1852, when he entered the
banking-house of James H. Lucas as a partner. In
1857 he retired from the firm and established the