General History of Meade County, Kansas

HISTORY OF MEADE COUNTY, KANSAS
by Frank S. Sullivan
Copyright, 1916

BANKS

Pages 61-66

Meade County has not been lacking in financial institutions. The first bank to incorporate was the Meade County Savings Bank, incorporated July 30th, 1885; Isaac N. Graves, R. R. Wells, H. H. Rogers, C. W. Adams, A. H. Heber, E. F. Seeberger, E. L. Mead, and L. E. Steele, Directors. This bank, however, never opened for business.

The first bank to do business in Meade County was The Meade Deposit Bank, a private bank, which commenced business in Meade Center in the fall of 1885: M. J. O'Meara, President; B. F. Cox, Vice-President; M. H. Ewart, Cashier. About a year later it nationalized, and became The First National Bank of Meade Center. It operated as a national bank for a couple of years, when it went into involuntary liquidation, with John C. Fry as receiver.

The Meade County Bank, Meade Center, was incorporated Feb. 26th, 1886, with a capital stock of $50,000. Directors, A. H. Heber, M. Wightman, Ed. Dool, C. S. Rockey, and Chas. P. Woodbury. It afterwards nationalized under the name of The Meade County National Bank, but in 1890 it again became a State bank under its original name and with its original capital stock; A. H. Heber, Geo. L. Stevens, E. F. Rie-man, E. T. Brawley, and Chas. P. Woodbury, Directors. Soon afterwards it liquidated and went out of business, Geo. B. Cones winding up its affairs as trustee.

The Farmers and Stockgrowers Bank was incorporated Nov. 20th, 1886, capital stock $50,000, and opened for business at Meade Center, with the following Directors : Isaac N. Graves, Samuel Williams, Lewis K. McGuffin, Oscar B. Hamilton, and Ormond Hamilton. This bank was reincorporated August 31st, 1891, with a capital stock of $5,000, and with Ormond Hamilton, F. G. Hamilton, M. P. Hamilton, J. W. Hamilton and M. H. Tripod as Directors. At this time the mercury in the thermometer of business had reached to almost zero, and it continued to descend for some years. This bank was conservatively managed, but under the adverse conditions existing at that time success was unattainable, and the bank became insolvent. In 1896 Louis Boehler was appointed receiver, and remained in charge of the assets until the affairs were settled, and he was finally discharged in 1902. And it is to the credit of the receiver and of the officers and stockholders of the bank, that after paying the expense of the receivership and the preferred claims, the general creditors realized more than seventy-eight cents on the dollar, a much higher rate than is usually paid by an insolvent.

The Citizens State Bank, Meade Center, was incorporated Aug. 5th, 1887, with a capital stock of $100,-000; George C. Strong, E. G. Robertson, C. W. Adams, W. H. Young, Wm. K. Palmer, Coleman Rogers, and A. J. McCabe, Directors. This bank was reorganized Jan. 11th, 1889, under the name of The Citizens Bank of Meade Center; capital stock, $50,000. Directors, E. G. Robertson, Coleman Rogers, Arthur J. McCabe, C. W. Adams, and C. E. Cones. It soon thereafter liquidated.

The Bank of West Plains, West Plains, was incorporated Jan. 11th, 1888; capital stock, $50,000. Directors, B. B. Brown, W. C. Gould, C. Gould, H. B. Stone, and R. F. Crawford. This bank continued to do business until the general conditions of the country warned the Directors that a continuation would mean failure, when they closed their doors, paid depositors and creditors in full, and quit business. The officers, Brown, Gould and Stone, went to Colorado and engaged in the banking business at Lamar.

A private bank was also organized at Fowler, in the late 80's, of which Wm. Beaty was president, B. F. Cox, Vice-President, O. S. Hurd, Cashier; capital stock, $5,000. It paid out in full and quit business in 1890.

Of the banks at present doing business in Meade County, The Meade State Bank was incorporated Aug. 22nd, 1899. Directors, C. Q. Chandler, W. S. Berryman, J. W. Berryman, N. A. Berryman, and Emily Berryman. Its capital stock was $5,000, which was increased to $10,000 in 1900. In 1903 this bank was reorganized, under the same charter, with R. A. Harper, President, B. F. Cox, Vice-President, Louis Boehler, Cashier. In 1909 the capital stock was again increased, this time to $30,000. It now has a surplus, in round numbers, of $13,000, and deposits of $200,000. Its depositors are protected by the Bank Depositors' Guaranty Fund of the State of Kansas.

The First National Bank of Meade opened for business on May 2nd, 1904, with the following officers: President, J. B. Buck; Vice-President, Geo. S. Selvidge ; Cashier, F. W. Curl. The Directors, in addition to the President and Vice-President, were: E. A. Twist, Linn Frazier, B. F. Leach, J. R. Graves, and Geo. B. Cones. The present officers are: W. F. Casteen, President; J. F. Conrad, Vice-President; F. W. Curl, Cashier. Its capital stock is $25,000, and its surplus and deposits, in round numbers, are respectively $25,-000 and $180,000. Its depositors are protected by bond in The Deposit Guaranty and Surety Co.

The Fowler State Bank, Fowler, was incorporated April 3rd, 1906, with a capital stock of $10,000, and with the following Directors: R. A. Harper, J. C. Hall, Leo P. McMeel, Louis Boehler, W. P. Bunyan, and F. D. Morrison. Its present officers are: R. A. Harper, President; T. V. Pinnick, Vice-President; F. D. Morrison, Cashier; John F. Sweet, Assistant Cashier. Its present capital stock, surplus and deposits are, respectively, $25,000, $12,500, and $100,000. It is under the protection of the Bank Depositors' Guaranty Fund.

The First National Batik of Fowler commenced business Jan. 3rd, 1910, with the following officers: President, John F. Conrad; Vice-President, J. C. Hall; Cashier, D. B. Mitchell; Directors, John F. Conrad, J. C. Hall, Linn Frazier, John Boucher, and J. M. Dowell. Its present officers are: Linn Frazier, President; J. C. Hall, Vice-President; Geo. D. Hall, Cashier. Its capital stock, surplus and deposits are, respectively, $25,000, $15,000, and $115,000. Its depositors are protected by surety bond.

The Plains State Bank, Plains, was incorporated July 7th, 1906, with the following Directors: J. A. Collingwood, D. A. Collingwood, Joe G. Collingwood, S. G. Demoret, Ella Demoret, and J. H. Collingwood, the last named of whom has been Cashier since the bank's organization. Its present capital stock and surplus are $35,000; its deposits are $150,000.

The American Mortgage Trust Company was chartered August 15th, 1887, with an authorized capital stock of two hundred thousand dollars. Its purposes were to negotiate loans on farm and city property, to purchase securities, and to own and sell real estate. The Directors were: A. H. Heber, Willis G. Emerson, L. S. Sears, L. W. Brown, Edward Dool, R. P. Brown, Geo. L. Stevens, D. W. Higbee, and L. D. Rogers,- all of whom were residents of Meade County, save the last three. This company flourished for a time, but finally became involved. Geo. S. Selvidge was appointed receiver, and at a receiver's sale in 1899 R. W. Griggs purchased the entire assets of the corporation for three hundred dollars.