, Sault Sainte Marie, Michigan, is the father and secretary of a financial institution in this city, which is a firm and substantial concern organized under the laws of the State of Michigan, and known as the Soo Mutual Building and Loan Association.
This institution came into existence more than six years ago in response ot a desire on the poart of its promoters to establish a co-operative association where savings and surplus funds generally could be invested with sure and liberal returns and at the same time supply largely the demand for loans at a more reasonable rate of interest than was charged by the banks.
The association is capitalized at three million dollars, issues a series of stock quarterly, and was officered at its first meeting, July 24, 1888, as follows: Board pf Directors - John H. Goff, Otto Fowle, T.B. Easterday, Robert J. Stewart, H.D. Rains, C.L. Andersona dn J.W. Sutton; president, T.R. Easterday; vice president, H.D. Rains; treasurer, Otto Fowle; and secretary J.W. Sutton. The directors at the present time are: W. B. Cady, president; Otto Supe, vice president; Otto Fowle, treasurer; Jay W. Sutton secretary and H.D. Rains, R.J. Stewart and D. McGregor. Directors Fowle and Sutton having filled the same positions since organization. The association has passed the quarter-million mark in receipts and disbursements, as shown by its May statement 1895; published int he Money Maker, its official organ, the only paper issued by a building and loan association. This statement also shows over $174,000 assets and over $50,000 credited profits, besides $20,258 already paid out to members, making a total of over $70,000 in round numbers, made for members, borrowers as well as investors; and have on hand $113,773 as installments placed with it by its members; and all this favorable and gratifying showing in the face of the severest financial depression known in thei country since 1857. The conservative methods of the managers is apparent in the single announcement that the association has never taken a piece of property nor started foreclosure proceedings to satisfy its claims.
The business of the assocciation has increased to such proportion as to require practically the whole attention of its secretary. Prior to its founding he was a practicing attorney in this city, but with the exception of occassional service for an old client he has dropped out of the legal field.
Mr. Sutton studied law in Milford Michigan, int he office of E.J. Bissell and was admitted at Pontiac by Judge Baldwin, May 13, 1881. After being admitted to the bar, he went into the office of William L. Weber, attorney and land commissioner for the F. & P.M.R.R. Company and remained two years, after which he was for two years in the office of Tarsney & Weadock. He then formed a partnership with B.W. Houston at Vassar, which relation existed until Mr. Sutton came to Sault Ste. Marie about March 4, 1887. In this city his partner was Mr. Yerkers. Mr. Sutton is a tireless worker in the interest of his clients and has a reputation as a successful lawyer.
He was born in Macomb County, Michigan in the village of Romeo, Sept. 10, 1858. His father was a native of NY, was a merchant by occupation and passed the closing years of his life in Michigan, where he died when the subject of our sketch was quite young. At the age of 13 young Sutton also lost his mother, to whose support he had contributed as best he could after the fathers death. Her maiden name was Charlotee Killien, and Canada her native land. She was the second wife of Mr. Sutton, who, by his former marriage, had a daughte, now Mrs. J.W. Gass of Romeo MI. Thus orphaned in early life, Jay W. wa thrown upon his own resources. He worked on a farm near Rochester for his board and clothes two years. Afterward on a farm near Macomb, he received $10 a month in summer and worked for his board in winter while attending school. In the spring of 1877 he hired to do farm work in Oakland county at $18 a month, and during the winter months attended the Milford high school. After this he spent some time in the State Normal School at Ypsilanti, expecting to become a teacher, but finally chose the law instead and began his reading as before mentioned.
Mr. Sutton was married in Milford, November 30, 1882 to Ella M. Covey of Saginaw, daughter of H.G. and Margaret Covey. They have an adopted daughter, Lillian M. age 4 years.
Mr. Sutton is an active member of the K.O.T.M. He was a moving spirit in organizing the Soo Y.M.C.A. and the last to let go when its collapse was imminent. In church work is zealous and active, hismembership with the Presbyterians, in which church he is a Trustee, and has served fiveyears as Treasurer and three as Elder.
From the " Memorial Record of the Northern Pennisula of Michigan 1895".
