488 - HISTORY OF TOLEDO AND LUCAS COUNTY

CHAPTER XVIII.

(RETURN TO THE TITLE PAGE)

BANKS AND BANKING.

THIS would not be the proper place for anything like a history of Banking in Ohio; and yet, in connection with the record to be made of that interest in Lucas County, brief reference to the origin and progress of the same in the State, will not be irrelevant.

The first Banking institution in Ohio was the Miami Exporting Company of Cincinnati, chartered in April, 1803, at the very outset of the State Government. Its object, as indicated by the name given to it, was the promotion of trade more than regular Banking business, for which latter there was then comparatively little demand. This Company continued in existence for many years, with varying success.

The first charter for a strictly Banking institution, was that of the Bank of Marietta, granted in 1S08; another charter, for the Bank of Chillicothe, being obtained at the same session of the Legislature. Various charters were granted from that time until 1816, when 12 new Banks were authorized, and the charters of old ones renewed. A peculiarity of the system then adopted, was the participation in the same which was given to the State. Each Dew Bank, at the outset, was to set apart for the State one share in each 25 shares, in consideration of its charter ; and each Bank renewed was to create for the State a like proportion of stock. Each one of both classes, was annually to set apart out of its profits, a sum which, at the time when its charter expired, should make a sum equal to 4 per cent. of its entire capital stock. The dividends to the State were to be invested and re-invested until one-sixth of the stock should become State property. By that law, Banks were authorized to be established at West Union, Columbus, New Lancaster, St. Clairsville, Mount Pleasant, Cleveland, Chillicothe, New Lisbon, Wooster and the Lebanon Miami Banking Company and the Urbana Banking Company. The charters then extended, were those of the Marietta, Chillicothe, Steubenville, Muskingum, Western Reserve (at Warren), the Farmers' and Mechanics' Bank at Cincinnati and the Dayton Manufacturing Company-all charters to run until 1843, and each with a capital of $500,000, except the Bank of Cincinnati, to be $600,000. This arrangement continued until 1825, when not working satisfactorily, it was so changed, that instead of sharing in the stock of the Bank, the State should receive the specific tax of 2 per cent. on past dividends, and 4 per cent. on those to be made by the Bank.

Meantime so-called Banks came into existence at different points, without due authority of law. Among these, two were prominent in Northern Ohio-the Owl Creek Bank, in Knox County; and the Bank of Sandusky Bay, at Bloomingville (now in Erie County), both of which caused serious loss to holders of their bills. Such was the condition of the Banks in Ohio in 1818, that less than one-half of their notes were receivable for public taxes.

In 1831, the tax on the Banks was increased from 4 to 5 per cent. of the dividends.

In 1839, the Banks of the State having been largely managed in loose ways and without proper supervision, a Board of Bank Commissioners was appointed. This inquisition was unsatisfactory to the Banks, and provoked much controversy, which was greatly intensified by a bitter political warfare against the entire system of Banking and all paper currency. For some years, the question of Bank note circulation constituted the main issue between the Whig and Democratic parties in Ohio-the former favoring such currency, when properly secured against loss; while the latter party declared itself opposed to anything as currency, save gold and silver coin. This state of things was largely due to the policy of the General Government, adopted about 1834, under what was popularly known as the " Pet Bank System." That came about through a contest between the two political parties-the Democratic, with President Jackson at its head; and the Whig party, under the lead of Daniel Webster and Henry Clay, with a majority in both Houses of Congress. The charter of the United States Bank, granted in 1816, for 20 years, was to expire in 1836. A new charter was passed by Congress, which was vetoed by the President, and thus defeated. Up to that time and for many years, the Bank of the United States, as the chief financial agency of the country, had operated materially toward giving stability and reliability to the currency, while serving trade most acceptably in the facilities supplied by it in the way of exchange. But the expiration of the charter of that institution and the closing up of its affairs, through the hostility of President Jackson, was attended by a new order of things. To provide a substitute for the National Bank, the Administration deposited the public moneys in selected State Banks, and to furnish a substitute for the bills of the discarded Bank, these new Banks of deposit were encouraged to treat the Government deposits as a basis for the circulation of their own notes, which most of them were quite too glad to do. But it so happened, that these " Pet Banks " (as they came to be called), were only able to stimulate a demand for currency which they were not able to meet. The

BANKS AND BANKING. - 489

great West could receive but little benefit from their issues. Co-operating with such influences, was the rapid influx of active and energetic settlers, who lost no time in seeking out the shortest roads to riches, through operations in form lands, Town lots and other speculations, till which called for currency "to meet the demands of trade." inpatient of dependence on outside Banks, and not a little resentful of the practice of favoritism by the Administration toward such "pets," the Western States resorted to different plans for meeting this pressing call. The natural result of such state of things was not delayed. It came, first, in the form of wild speculation and recklessness, always induced by excessive currency and consequent facility tier the means of traffic.

As early as 1835, the Government found itself charged with a burden evidently not expected, and which was mainly felt in connection with its land sales. Speculation was chiefly developed in traffic in public lands, which were purchased in vast quantities by speculators, as well as by an unprecedented tide of settlers from the East. All purchasers sought to pay in the currency most readily to be obtained. This was soon found to be impracticable by the Government, since a large portion of such currency was of the issue of obscure Banks, without general credit or means for the redemption of their notes. Hence, it was necessary to select the Banks whose issues were deemed safe, and publish lists of such for the information of land buyers.

The result of this was most annoying and the cause of heavy loss to the purchasers. As will be seen, before visiting a Land Office, one was compelled to consult the latest published list of acceptable Banks, and provide himself accordingly. Of course, such choice placed the hills of the Banks named at a premium, and thus, at the outset, involved loss by the proposed purchaser. And not only this-do the best he could, he was liable to find, on arrival at the distant Land Office, that, subsequent to supplying himself with prescribed currency, more or less of the same, in consequence of the failure or discredit of Banks, had been rendered useless to him, except as he might be able to exchange it at whatever "shave" might he demanded by the `' Money Changers," located next door" to the Land Office. The result often was gross wrong through the extortion thus enforced by conscienceless operators.

A case in point, is that of Cyrus Darling, of Perrysburg, Wood County, whose statement made October 3, 1836, indicates something both of the condition of' the currency and of the modes of' public business of' those days. Mr. Darling said that in July previous to the date named he was at the Land Office at Lima, Ohio, for the purpose of purchasing land; and finding the currency he had with him was not "Land Office honey," Ire was referred to a small "Exchange Office" close by, where acceptable money was to be had, for which he paid 5 per cent. premium. After getting this, he found that the land selected by him had been entered by another person ; in([ while looking for another piece the Office was closed. He then went to the Land Office at Fort Wayne, where he was required to pay to another Land Office "Exchange" 7 per cent to get the same money changed; making a total premium of 12 per cent. One man, who had paid 8 per cent., or $32 premium for the exchange of $400, found Iris land taken, and begged the return of' his money, which was refused. He seemed to be a hard-working young man.

As further showing something of the condition of the currency at the West at that time, a copy of' a " Shinplaster " is given here. It bears the names of two men subsequently eminent in public life-both having become members of Congress from Ohio, and one (the President ") the Democratic candidate for Governor in the close contest of 1848, when Seabury Ford, Iris Whig opponent, was chosen. The "promise to pay " was as follows

No. 48. (VIGNETTE. Horse and Leader.) A,

5 ELOCUTORY BANK 5

Will pay Thomas Blair, or bearer, or demand,

FIVE CENTS,

At the 0ffice of the Cushier, Hamilton, Ohio.

L. D. CAMPBELL, JOHN B. WELLERS,

Cashier. President

MAY 27, 1837.

This is but a sample of a large portion of the " currency " then in use throughout the West, and to large extent in other sections ; except, that most of it was the issue of firms and individuals, and made payable in "current Bank notes," when presented in sums of one or more dollars.

The natural climax of the financial policy of' the Government was reached in the issue of' the " Specie Circular " of the Fall of 1836, for bidding the receipt of anything but gold and silver for public dies, which operated greatly to aggravate. the state of things, especially at the West.

In July, 1838, notes of the Banks of the several States, were quoted at New York at the discount here given, to wit:

Connecticut Bank, 2 1/2 percent.; Rhode Island, 1 1/2; Maine, New Hampshire, Massachusetts and Vermont, 1 ; New Jersey. par to 4 ; Pennsylvania, 2 to 8 ; District of Columbia., 3 1/2 Georgia, 5 to 8; Ohio, 5 to 6; Indiana and Illinois, 6 ; Mobile, Ala., 14 to 16 ; New Orleans, 10 ; Natchez, 20 to 25; Canada. 5 to 6. For collections-On Boston, 1/2 ; Philadelphia, 2 ; New Oleans, 7 1/2 to 10; Mobile, 14 to 15.

In 1845, the first sound and effective Banking system was adopted in Ohio. It consisted of tire Stale Bank of' Ohio, with Branches, together with provision fir Independent Banks.

490 - HISTORY OF TOLEDO AND LUCAS COUNTY.

Under the law, a certain amount of capital was fixed for the entire State, and which was apportioned to the different sections of the State, according to the assumed needs of the same, respectively. This apportionment was not always satisfactory, nor always just. The rule or "first come, first served," necessarily adopted, operated to secure to the earliest applicants privileges assigned to a certain district. Hence, it was, for instance, that steps were taken at Findlay for a Branch of the State Bank; and when preliminaries were completed, it was found that Toledo had got the start by a day or two, and secured for itself all the Banking privileges apportioned to this section under the State Bank system.

While that system was not perfect, it was, by all odds, the best the State had then known, and soon commanded the general confidence of "the people. It remained in operation until the creation by Congress of the system of National Banks, in 1,963, which was made to take the place of all local Banks of issue by means of taxation of the latter amounting to prohibition. The result was, that most of the State Banks accepted and organized under the National system, which from the first commanded the confidence of the country to an extent far beyond anything previously existing. Two distinctive and highly important benefits have been conferred by it: 1st. A currency so sound and reliable that the notes of every Bank, however obscure its location or small its capital stock, are current equally with those of the largest institutions at the centers of trade; while all have credit at the principal money marts of the world. The second advantage arising from this system, consists in the unprecedented facilities for exchange thereby sup. plied. Until its adoption 24 years ago, all values in trade were more or less controlled by the rates for exchange existing at the several markets, and which depended on the value of the local currency at the point where the exchange was to be used. The consequence often was, that a large per cent. of a dealer's receipts was required to get the balance into shape to be available for paying his indebtedness-or for new purchases.

Some idea may be had of the embarrassment experienced in this connection in early times, from a statement of the main reliance for exchange then possessed. This consisted in cutting Bank bills into two equal parts from top to bottom, and then mailing to the payee one part of each bill so cut, accompanied by a description of the sane, together with notice, that upon acknowledgment of receipt of the same, the other parts of the bills would be forwarded in like manner. As a result of the imperfect mail facilities of those, clays, it was not infrequent that the first remittance would be lost. In such case, public notice was given through the press of the fact, when the retained parts of the bills would be sent to the proper Banks, by which they would be exchanged for new bills. All this-or nearly all-was dispensed with in the establishment of a currency uniform in value at all points; whereby at the farthest there can be no cost for exchange beyond the actual expense for the transportation of currency to the point of use; while for much of each year, especially at commercial centers, currency is worth more than exchange, and at a premium-a condition of things in marked contrast with that which devolved upon Western and Southern dealers a loss of from 1 to 25, and even a higher per cent. of loss on their business for exchange.

Whether or not Michigan in her" Wild Cat" Banks, furnished the worst samples of the broods born of the " Pet Bank " system, may be in doubt; but the necessarily intimate relations of Lucas County, and of Ohio generally, with that particular species, constitute a portion of the local history here proper to be furnished.

In its effects upon the business of this section, the wretched so-called " currency " of Michigan, was no less unfortunate than was the boundary question, which then had just been settled. In fact, the contest with the "Wild Cat " brood, while perhaps not more bloody than was the " Toledo War," nevertheless was far more calamitous to the material interests of both sides of the disputed boundary.

By the 1st of January, 1838, "Michigan money " had come to be a matter of serious concern, and of no little discussion in this region. The Banks had substantially all suspended payment, without the possession by the public of any proper information as to when or whether they would resume. For a time, this question seriously disturbed business circles. The dealers of Toledo had divided as to the course to be pursued in this matter. December 16, 1837, a meeting of citizens of Tremainesville and vicinity was held for the " consideration of the depreciation of Michigan money,'' with Horace Thacher in the Chair, and Cyrus Fisher as Secretary. After providing for an adjourned meeting, with delegates from Sylvania, Bedford and Erie, adjournment to December 22, at the house of P. I. Phillips, Tremainesville, took place. At the adjourned meeting after discussion, it was resolved to stand by the Michigan Banks and receive such of their notes as circulated at home. The " Toledo merchants and dealers " who were discounting such bills at 121 per cent. were strongly censured for so doing, since such policy was likely to "injure the farmers and mechanics," turn "trade into other channels," and "drive the only currency they had out of the country." They -would "ask no discount on such honey," nor would "they deal, if within their power to avoid it, -with any man who demanded it" an instance of " Boycotting,"

BANKS AND BANKING. - 491

practiced many years before Mr. Boycott, the Irish landlord, was subjected to the sane means for coercion. The Committee reporting the resolutions consisted of Dr. Cyrus Fisher, John W. Collins, J. Porter Whitney, Thomas Wing, Coleman I. Keeler, M. W. West and M. L. Whitney. To what extent local jealousy may have operated to array the Tremainesville business men so actively against the policy adopted at their young and rising competitor, cannot now be definitely stated. The people of Maumee City, also, shared in this currency trouble. A meeting of merchant. and other citizens was held in August, 1837, to take measures to prevent injury from the circulation of uncurrent Bank notes. Hiram Steele was the Chairman, and B. D. Coffin the Secretary. F. E. Kirtland, Dr. Oscar White, Timothy Griffith, Owen Williams and James Howe, as a committee, reported resolutions deprecating the embarrassment-under which trade was conducted, and specifying the Bank notes which they would receive and the rates to be allowed for the same. They proposed that "for the purpose of restoring the currency to something like a par standard, they would charge and exact the following rates of discount on Michigan Bank notes: The Banks in Detroit and the River Raisin Bank, not bankable in Ohio, five per cent.; Erie and Kalamazoo Railroad Bank notes, eight per cent.; Washtenaw and Monroe, no sale; Clinton and Macomb County Banks, 25 per cent.; and other Michigan notes, 10 per cent." It was provided, that White & Kirtland, Morehouse& Brownlee, and S. A. & J. II. Sargent be a committee to report weekly through the Maumee City Express, "the standard value of Michigan Bank notes." It is safe to say, that these firms constituted the first recognized authority on the Maumee River for fixing the value of Bank currency.

An address delivered in February, 1878, by the late Alpheus Felch, formerly a Bank Commissioner of Michigan, member of the Legislature and Governor of that State, and United States Senator from the same, furnishes much information as to the pioneer Banking system of that State. The first charter granted by the Legislative Council, was for the Bank of Monroe in 1832, with permission to establish a Branch at Pontiac. In 1835, several Banks were created and Banking privileges given the Erie and Kalamazoo and the Detroit and Pontiac Railroad Companies. Although Michigan did not become a State until January, 1837, a so-called State Legislature, early in 1836, undertook to grant Bank charters, of which that of the Bank of Manhattan was first in the list, it having been approved by the Governor March 25, 1836; following winch were charters for the Banks of Calhoun County, St. Clair, Clinton, Ypsilanti, Macomb County, Oakland County, Tecumseh and Constantine. An attempt was made to adopt a "Safety Fund System," after the plan which did not succeed in New York, the distinctive feature of which was that each Bank was to deposit with the State Treasurer, at the beginning of each year, a sum equal to one-half of one per cent. on the capital stock paid in; and the fund so created was to be held and to be used for the benefit of the creditors whenever any Bank in the arrangement should become insolvent. This applied only to Banks thereafter to be created and such others as accepted the law. The process of Bank-creation then went on, and was greatly stimulated in 1837 by the suspension of nearly every solvent Bank in the country.

In order the more fully to keep afloat the circulation of the home institutions, the Michigan Legislature in June, 1837, passed an "act suspending for a limited time certain provisions of law," whereby the Banks were permitted to suspend specie payments until May 18, 1838. Not only this, but all banks which should be started before the 16th of May, 1838, should have the benefit of this provision. Thus was the door opened for the indefinite issue of paper, of the solvency of which there could be no possible means of ascertaining. Asa matter of course, scheming adventurers at all points availed themselves of such extraordinary license. Under the General Banking law, 10 per cent, of subscriptions of stock was to be paid at the time of subscription, and 10 per cent, every six months; 30 per cent in specie being required before the Bank was started. But this was not done. One recourse for evasion of the law, was the use of so-called " Specie Certificates," as a substitute for coin. These consisted of receipts given by officers of the Bank and by others acknowledging that they had received specie from the Bank. In other cases, specie was borrowed for the sole purpose of' being counted by the Bank Commissioners. In one case, as officially reported, $5,000 in coin thus borrowed ryas counted three tines and made to answer for $15,000 in three different Bank vaults. The Farmers' Bank of' Genesee was started on $35,500 of certificates; the Exchange Bank of Shiawassee on $7,000; the Bank of La-peer on $15,000; and the Wayne County Bank on $30,000 of' the sane sort of' capital. The loaning of' specie and of specie certificates to new Banks, came to be a regular business, and a source of profit.

Within one year, 49 different Banks were organized in Michigan under the general law. Of these, 40 went into operation, being one Bank for each 4,000 inhabitants of the State with an aggregate capital stock of $3,915,000, or about $22 per capita. Had the law been complied with, there would have been an available coin reserve of $1,745,000, for the security of creditors; but there was probably not five per cent. of such amount. Many Banks were

492 - HISTORY OF TOLEDO AND LUCAS COUNTY.

located at points distant and inaccessible, seemingly for the purpose of preventing ready presentation of their notes.

The year 1839 was one of marked fatality with these institutions: and in December it was officially reported that there remained of the original brood but three having charters and one branch, and four of the 40 under the general law. There were then 42 under injunction, prohibiting business by thorn. At least $1,000,000 of the notes of these Banks proved worthless. being chiefly in the hands of the people of Michigan, since they had little credit outside that State. To make more complete the final collapse, the State Courts, in 1845, declared the general law to be unconstitutional. This, of course, discharged all individual liability of stockholders, on which bill holders' hope for relief almost wholly rested. Another decision (in 1848) held that a Bank Director could not be adjudged liable under the provision of the law declaring such liability.

The case of the Farmers' Genesee County Bank may be taken as a sample of its class. Upon official examination it was found that there was in the Bank neither specie nor bills of other Banks; no officer in charge of the Bank; no set of books-nothing, save a file of "stock notes," a file of receipts to stockholders, and unendorsed notes to the amount of $168,653.50. These notes were given by different persons-$60,000 by R. H. Jerome, President basis" of the Bank, and payable five years from date; and $52,000 by Rufus Brown, Jr., also payable in five years. There was no evidence of any security in real estate having been given, or that any coin was ever in the Bank. In the Exchange Bank of Shiawassee, no books were found giving any clue to the transactions of the concern. Five coppers, a counterfeit note of a New York Bank for $5, and a check for $3,000, were found in the vaults. The circulation of' the Bank was $25,000. The books of the Jackson County Bank at Jackson, were found interpolated, erased and kept in pencil ; while the "assets" consisted of boxes filled with nails, glass and iron. The Bank of White Pigeon had found itself so pressed for money, that it commenced the printing of its notes off common paper in the "shinplaster" style. These all were among the "Safety Fund Banks" of Michigan.

The experience of the young State of Michigan in connection with her outset in internal improvements-chiefly the Southern and Central Railroads-well illustrates both her embarrassments and the general condition at the West, following the financial paralysis dating from 1837. For the purpose of carrying on its improvements, the State borrowed money at liberal interest, and deposited it in the State Bank of Michigan, as the safest known place for keeping. When called for, however, the money was not forthcoming. The Bank, in explanation of its inability to respond to the State's demand in 1839, made report that the money had been loaned to and was then due from, the following named persons

Stevens T. Mason, Governor $ 4,414 30

John T. Mason, Governor's father 2,311 72

Calvin C. Jackson, Governor's Private Secretary 2,320 82

Charles W. Whipple, Judge 8,402 64

James B. Hunt, Commissioner 28,003 71

Lewis S. Humphrey, Commissioner 11,705 00

Horace C. Comstock, Senator 44,090 00

Conrad Ten Eyck, U. S. Marshal 5,792 93

Lucius Lyon, Ex-United States Senator 900 00

Daniel Goodwin, U. S. District Attorney 2,000 00

Epaphroditus Ransom 1,517 84

David C. McKinstry, Commissioner 8,823 71

John Norton, Jr., Cashier 6,456 37

Foster and Gibson, Commissioners 1,643 00

Rinsing Prichette, Bank Commissioner 1,643 09

Justice Burdick, Ex-Commissioner 6,432 98

Thomas B. Clark, Director $9,440 00

J. Mott Williams, Attorney and Director 3,710 00

Anthony TenEyck 437 95

Frederick H. Stevens 29,850 00

W John D. Pierce, Superintendent Public Instruction. 9,737 00

James Beaubien 1,000 00

John W. Wilson, Ex-Sheriff 10,000 00

Bank of Niles 7,387 97

Bank of Marshall 30,000 00

C. & J. Wens 8,974 00

Peter Morey, Attorney General 100 97

John S. Bagg 470 00

Total $245,454 97

The "individual liability "principle in Banking adopted in Indiana, as indicated by the case of the Bank of Newville, was different from that of Michigan, though not adapted to as general application. In that case, it is credibly (though not officially) reported that the President of' the Bank (Ladd Thomas) carried its "specie (a double eagle) securely sewed in the seat of his buckskin pants.* This statement being true, hardly equals that of tile Bank in Indiana in 1822, which was said to have issued skins of animals as currency, instead of notes. Thus, a raccoon skin passed for $1.00; an opossum for 50 cents; minks for 25 cents each rabbits at 12 1/2 cents, and squirrels for 1 cent. At length this, like most other currency, became vitiated by counterfeits. Thus, coon tails were attached to 'possum skins, and passed at $1 00, while the tailless coons, without their pedal witness, maintained their true value until the fraud was detected.

The following "Specie Basis Bank Note Table," as published in the Blade of February 18, 1842, shows something of the condition of the currency of the West at that time

OHIO.

All banks, except the following 12 1/2 discount

Bank of Cincinnati

Bank of Steubenville broke

Circleville (chartered 1818) broke

German Bank of Wooster

Gallipolis broke

Lebanon M. Banking Company failed

Mechanics' and Traders' 15 dis.

Bank of Manhattan closed

Miami Exporting Company broke

Bank of West Union broke

Washington Bank broke

*Historical address by Hon. A. P. Edgerton, now United States Commissioner of Civil 'Service.

BANKS AND BANKING. - 493

Post Notes of State of Ohio 12 1/2 to 15 dis.

Bank of Granville failed

Urbana Banking Company 65 dis.

ILLINOIS.

State Bank and Branches 35 dis.

Bank of Illinois 35 dis.

Bank of Cairo

Illinois and Michigan Canal Checks 35 dis.

INDIANA.

State Bank and Branches 14 dis.

Indiana State Scrip, $5 22 dis.

Indiana State Scrip, $50 32 dis.

MICHIGAN.

Bank of River Raisin 12 1/2 dis.

Bank of St. Clair 12 1/3 dis.

Farmers' and Mechanics' Bank 20 dis.

Michigan Insurance Company 12 1/2 dis.

All other Banks in the State various rates

EXCHANGE (SELLING).

On New York, premium 2 percent.

On Buffalo 14 percent.

Gilbart's "History of Banking in Ireland," furnishes in the case of a Bank at Killarney, a sample of Banking, which shows that the sort in vogue at the West half a century since, was not the first of its kind. A bill-holder, with companions, called on the Killarney Banker, who also was a Saddler, when the following interview took place:

"Good morning to you, sir," said the caller, " I presume you are the gentleman of the house." "At your service, ladies and gentlemen," returned the Saddler. " It is here, I understand, that the Bank is kept," continued the gentleman. "You are just right, sir." replied the mechanic, " this is the Killarney Bank, for want of a better." " We have a few of your notes, which will be of no manner of use to us elsewhere, and I'll thank you for cash for them." " Cash, please your honor, and what is that ? Is it anything in the leather line? I have a beautiful saddle here as river was put across a horse, good, and cheap, upon my say so. How much of my notes have you, sir, if you please?" Upon making computation the gentleman found he had 16 notes, running from 3d to 3s. 9 1/2d. each, amounting to 15s. 9d. "There, sir, are no less than 16 of your promises to pay, for the amazing sum of fifteen shillings and nine pence, Sterling money." " I should be sorry, most noble sir," said the Banker, " to waste any more of your Lordship's time, or of those swate, beautiful ladies and gentlemen, but I have an elegant bridle here, as isn't to be matched in Yoorup, Aishy, Afriky nor Meriky. Its lowest price is fifteen shillings sixpence ha' penny ; we'll say fifteen shillings sixpence to your Lordship. If yell he pleased to accept it, there'll be a tuppence ha' penny, or a thrippenny note coming to your Lordship, and that will close the business at once."

Not least of the troubles arising from the War of the Rebellion, and the attendant financial disturbance, was that caused by lack of change in trade. Coin very soon passed from circulation, and as the Banks issued nothing less than one dollar notes, the demand for fractional currency came to be of very serious concern. The law forbade the issue by individuals or firms of paper for circulation. The consequence was, that every department of trade involving the use of fractions of the dollar, was most seriously affected. The only material resort was to the use of Government postage stamps. These, while too limited in amount for the demand, were attended by inconveniences of no small measure. Thus, with 'their gummed surface, the adhesiveness caused by unavoidable dampness, often made their use very annoying. The case was one well illustrating the adaptability of mankind to conditions apparently intolerable. To sonic extent, the trouble was relieved by pasting stamps on paper glazed ora one side. The situation of that time, is illustrated by the case of a lady who received as change for a $1.00 bill, a ferry ticket, a counterfeit penny, a car ticket, a milk ticket, a butcher's due bill, a bread ticket, a 3-cent and a 1-cent postage stamp, and an ice cream ticket. No adequate relief for this condition came until Congress, in the provision of legal tender " Fractional Currency," and afterward in they-cent nickel, furnished a substitute for subsidiary coin, which answered well until the return of Silver upon the resumption of specie payment in 1879. During the more severe periods preceding the relief named, resort was sometimes had to the old plan of" Shinplasters," but with little success. Experience gained in former emergencies, was an effectual protest against such recourse.

BANKING IN TOLEDO.

The first Bank within the present limits of Toledo, was the Bank of Manhattan. As already stated, its charter was granted by the Michigan State Legislature, and bore date of March 25, 1836. The legal existence of that institution was called in question in a suit brought by the Bank to collect an indebtedness claimed of the late James Myers, of Toledo. The case was taken to the Ohio Supreme Court, where, in 1852, it was decided that the Bank never had a legal existence, and was not authorized to do business, for the reason that its charter was obtained in 1836, from a body calling itself "the Legislature of the State of Michigan;" whereas, there was no "State of Michigan" until January, 1837. Furthermore, it was held, "that Manhattan never was under the jurisdiction of Michigan ; and that securities given to an unauthorized bank are void." Thus the claim against Judge Myers was not collectible.

A statement of the condition of the Manhattan Bank, June 30, 1840, showed its totals to have been $122,052.71. Of its assets, $90,824 consisted of bills discounted ; $18,500 special loans on interest; judgments, $5,426. Of liabilities, capital stock paid in, $50,000; circulation, $57,381; interest, $951.41; deposits, $13,034. W. A. Chamberlain was then the Cashier.

494 - HISTORY OF TOLEDO AND LUCAS COUNTY.

In October, 1839, Henry D. Ward resigned his position as Cashier of this Bank, when Foster M. Follett was appointed. Both were from Sandusky, where they subsequently died.

The first Banking house within the original limits of Toledo, was that of Prentiss & Dow, corner of Monroe and Summit streets, opened in 1843. Subsequently H. P. Esty succeeded Dow, the firm then being H P. Esty & Co. Robert W. Titus was connected with the house. This was a Broker's and Exchange Bank.

Until 1845, there had been no chartered Bank in Toledo. At that time two institutions -the Commercial Bank and the Bank of Toledo-were established. The certificate for the Commercial Bank of Toledo, was filed in the County Recorder's office, October 8, 1845, under the act incorporating the State Bank of Ohio and other Banking Companies, passed February 24, 1815. The capital stock was fixed at $100,000, in shares of $100 each, and divided among the stockholders (all of Cleveland), as follows: Richard Hilliard, 400 shares; Joseph S. Lake, 300; Edmund Clark, 50; Isaac; L. Jewitt, 50; Matthew Johnson, 300; Otto Klemm, 100. The oaths of the Directors were recorded February 3, 1846.

The certificate for the Bank of Toledo, also a branch of the State bank, was flied October 8, 1845. Its capital stock was $100,000, in shares of $100 each, and divided as follows: Moses Y. Beach of New York City, 500 shares; Charles R. Miller of Cuyahoga Falls, 150; Wm. Rattle, of same place, 170; Horace A. Miller, same place, 30; Timothy L. Miller, same place, 40; Samuel Rattle, same place, 10; Zenas Cobb, Jr., of Cleveland, 100.

The following shows the conditions of the Toledo Branches of the State Bank of Ohio in May, 1846:

Bank of Commercial

Toledo. Bank.

Notes and Bills Discounted $ 77,339 $148,539

Specie on Hand 34,969 36,572

Eastern Deposits 32,498 15,924

Bonds with State Treasurer 12,500 15,943.

Capital Stock paid in 65,600 75,350

Circulation 99,727 111,625

Deposits 20,755 36,487

State Tax last Six Months 177.99 192.50

In October, 1845, Chas. R. Miller & Co., Exchange Brokers, opened an office in Toledo, which was in operation some years. Mr. Miller subsequently, with James Myers as partner, started and for some time edited the Commercial Republican (since known as the Toledo Commercial).

In December, 1846, Kraus & Co., Money Brokers, opened an office at the corner of Summit and Monroe Streets. From there they removed to the corner of Summit and Jefferson, and into a building built by them. Subsequently Mr. Kraus, with Wm. H,_ Smith, succeeded Wm. G. Powers & Co., as owners of the City Bank, of which Geo. C. Hertzler for some time was Cashier. The firm of Kraus & Smith continued in business until the fall of 1873, when financial embarrassment caused its suspension, with an indebtedness of about $1,000,000, due largely to small depositors, including many Germans of Mr. Kraus's nationality. No similar financial disaster in Toledo has caused like distress. The percentage of available assets proved to be comparatively small.

The Banks and Bankers of Toledo in September, 1854, consisted of the Commercial Bank of Toledo, Bliss & Hubbard, A. Parker, and the City Bank (Geo. C. Hertzler, Cashier). At a meeting of representatives of these, September 29th, it was resolved to receive on deposit at par only the following Bank notes, viz.: Detroit, Chicago, Wheeling (payable at Wheeling), notes at par in Pittsburg, notes of New York State, New England and New Jersey, and $10 and upwards of Pennsylvania, Virginia, Indiana and Kentucky. Other foreign currency previously received, would be taken at 1 per cent. discount.

In December, 1855, Berry & Day (L. G. Berry and M: W. Day), from Adrian, opened the Mechanics'. Bank in Toledo, which continued in business for several years.

FIRST NATIONAL BANK.

In 1851, John Poag and Valentine H.Ketcham commenced a Banking business in Toledo under the firm name of Poag & Ketcham. The following year the firm became V. H. Ketcham & Co., and in 1860, Ketcham, Berdan & Co. The latter firm continued in business until it was practically merged into the First National Bank, September 1, 1863. That was the first institution of the kind in Toledo, and among the earliest in the United States. The Directors chosen were V. H.Ketcham, John Berdan, S. S. Hubbard, Joseph K. Secor, Lyman Wheeler, Theodore B. Casey and Horace Holcomb. The following officers were chosen: President, V. H. Ketcham; Vice President, J. K. Secor; Cashier, John Berdan.

September 6, 1865, John Berdan having resigned, S. S. Hubbard was appointed Cashier. The latter served in that capacity until March 5, 1878, a period of 13 years. He was with the Banking House of Ketcham, Berdan & Co. from 1856 until the organization of the First National Bank, in which he was Teller until his appointment as Cashier, in which position he was succeeded by Joseph M. Spencer, who continued in that capacity until he resigned, January 3, 1882, when Spencer .D. Carr was appointed. He served until his resignation, .October 1, 1887, when Mr. Spencer was reelected to that position. January 9, 1866, Horace Holcomb succeeded Mr. Secor as Vice

BANKS AND BANKING. - 495

President, and continued as such until January 1, 1868, at which time Mars Nearing was elected. Mr. Ketcham held the office of President from the organization of the Bank until his death, in July, 1887. In September following Mr. Nearing was elected to that position. The officers of the Bank in October, 1887, were as follows : President, Mars Nearing; Vice President, Sheldon C. Reynolds; Cashier, Joseph M. Spencer; Assistant Cashier, V. H. Ketcham Jr. Directors, B. Nearing, S. C. Reynolds, V. H. Ketcham Jr., Welcome O. Parker, J. M. Spencer, Geo. H. Ketcham. Of the original officers of the Bank, the only deaths are those of Mr. Ketcham and Mr. Wheeler.

The capital of the First National Bank at first was $200,000. This was increased at different times, and has been for some years past $500,000. From its organization it has been second to no like institution in Toledo or the West. Amid the trying scenes of repeated panics, its credit has never suffered. In 1868 the Bank erected the fine building, 154 Summit Street.

TOLEDO NATIONAL BANK.

The Branch of the State Bank of Ohio organized in 1845, and known as the Bank of Toledo, became so seriously embarrassed in 1852, that the redemption of its circulation under the law, was assumed by the parent Bank. In 1855, the Bank was purchased by Amasa Stone Jr., Stillman Witt, Joseph Perkins, H. B. Hurlbut and others, of Cleveland ; and S. M. Young and M. R. Waite, of Toledo, by whom it was continued in successful operation until November 19, 1864, when it was reorganized under the laws of the United States as the Toledo National Bank, with a capital stock of $300,000. The officers of the new institution were as follows: President, S. M. Young; Cashier, Paul Jones; Directors, S. M. Young, M. R. Waite, H. B. Hurlbut, Joseph Perkins and Amasa Stone Jr.

Mr. Young has served as President of the Bank (including the two organizations) since 1855, a period of 32 years, being a longer period of like service than that of any other citizen of Toledo. Mr. Jones continued as Cashier until April, 1873, when, in consequence of ill health, he resigned and was succeeded by Horatio S. Young, who served until May, 1877, at which time Edgar H. Van Hoesen, the present incumbent, was elected. The following are the officers of the Bank at this time (November, 1887): President, S. At. Young; Vice President, H. S. Walbridge; Cashier, E. H. Van Hoesen; Directors, S. M. Young, H. S. Walbridge, Richard Waite, H. S. Young and Frank I. Young. Charles H. Jones is the Teller, and John M. McKee the Book-keeper.

SECOND NATIONAL BANK.

In 1860, Mr. E. Parmelee opened a Banking house in Toledo, under the name of Marine Bank, and continued it until 1861, when it was reorganized as a Branch of the State Bank of Ohio, of which Mr. George W. Davis became the President.

Under the United States Banking law of 1863, this institution became the Second National Bank of Toledo in January, 1864, with the following Board of Directors: George W. Davis, William Bolles, John A. Moore, Charles A. King, Matthew Brown, Warren Colburn, William Roff, W. W. Griffith, Fred. Bissell. The officers then chosen were : President, G. W. Davis; Vice President, Wm. Bolles; Cashier, Nehemiah Waterman.

Mr. Davis has been President of the Bank from its organization and is such at this time (1887). Mr. Waterman served as Cashier until his death, in 1874, when Charles F. Adams, then a Teller in the Bank, succeeded, and yet holds the position. Mr. Moore has been a Director from the first. Of the other original Directors, Messrs. Brown, Colburn, Bissell and Berdan have died. The Directors for 1887 were G. W. Davis, J. A. Moore, F. J. King, P. F. Berdan, Dennis Coghlin, W. A. Gosline, George A. Braun, T. W. Childs, C. F. Adams.

The capital of this Bank at the organization was $250,000, which has been increased to $350,000.

THE NORTHERN NATIONAL BANK

Was organized November 30, 1864. The first stockholders' meeting was held January 10, 1865, when the following Directors were chosen: Matthew Shoemaker, Charles A. King,. John T. Newton and Ebenezer Walbridge, of Toledo; Rollin B. Hubbard, of Sandusky; Robert M. Shoemaker, of Glendale ; and J. H. Winter, of Dayton. On the same day the Directors elected officers, as follows: President, Matthew Shoemaker ; and John T: Newton, Secretary and Attorney. January 19, 1865, J. T. Newton was elected Cashier.

The certificate of authority of the Comptroller of the Currency was issued February 16, 1865, and the Bank commenced business in March following, with a capital of $150,000, which remains the same to this time. with a surplus of $50,000. March 2, 1865, Mr. Newton resigned the position of Cashier, and E. T. Mortimer was chosen for the position. January 13, 1570, Fred. B. Shoemaker was elected Assistant Cashier. May 11, 1870, Mr. Mortimer resigned, and December 1, 1870, F. B. Shoemaker became the Cashier. May 13, 1871, Oliver S. Bond was chosen Vice President. M. Shoemaker resigned as President April 10, 1872, when Edward C. Bodman was elected to

496 - HISTORY OF TOLEDO AND LUCAS COUNTY.

the place. January 19, 1873. M. Shoemaker became Vice President. October 18, 1876, Mr. Newton was elected President, vice Mr. Bodman, resigned. January 8, 1880, Wm. Cummings was elected President. Upon the resignation of F. B. Shoemaker, L. C. DeWolf was elected Cashier January 6, 1881, and served until June 24, 1884, when, in consequence of failing health, he resigned. September 11, 1884, W. A. Eggleston was elected Acting Cashier. The present officers of the Bank (1887) are as follows

President, Wm. Cummings ; Vice President, M. Shoemaker; Cashier, W. A. Eggleston ; Directors-M. D. Carrington,* M. Shoemaker, Wm. Cummings, D. R. Locke, Leander Burdick, F. B. Shoemaker, James Secor, J. T. Newton, George Milmine.

THE TOLEDO SAVINGS BANK AND TRUST
COMPANY.

This institution, designed to be a depository of savings, was organized May 8, 1868, as the Toledo Savings Institution. It commenced business July 21, 1868, with the following named officers : President, Richard Mott ; Vice President, John F. Witker; Treasurer, A. E. Macomber. Edward Malone succeeded as Vice President, in 1869.

June 18, 1874, the Bank was re-organized, under its present name, with officers as follows: President, Richard Mott ; Vice President, Edward Malone ; Cashier, John J. Barker. M..D. Carrington served as Vice President from 1875 to 1878, when he was succeeded by Thomas Vanstone.

The officers for 1887 were as follows : President, Richard Mott; Vice President, Thomas Vanstone; Cashier, John J. Barker. Directors -Richard Mott, Charles F. Curtis, Richard Waite, Guido Marx, Wm. W. Williams, Isaac N. Poe, Charles L. Reynolds.

MERCHANTS NATIONAL BANK.

This Bank went. into operation in December, 1871, with a capital stock of $300,000. The officers at that time were as follows: President, Wilson \V. Griffith; Vice President, George Milmine; Cashier, Charles C. Doolittle. The Directors were W. W. Griffith, John H. Whitaker, Wager Swayne, N. M. Howard, George Milmine, Bernard Meilink, John Cummings, Charles R. Messinger and Fred. Eaton. Mr. Griffith continued as President until 1882, when he was succeeded by W. O. Parker, who served for one year, when Reed V. Boice was elected, who now (1887) holds the position. Mr. Milmine was the Vice President until January, 1873, since which time that position has been held as follows: 1873 to 1883, by N. M. Howard ; 1883 to 1886, by Fred. Eaton ; to 1887, by J. B. Baldy; 1887, by M. I. Wilcox. General Doolittle has been the only Cashier of the Bank.

*Deceased.

The officers for 1887 are as follows: President, R. V. Boice ; Vice President, M. I. Wilcox ; Cashier, C. C. Doolittle; Assistant Cashier, Monroe C. Warn. The Directors are R. V. Boice, Fred. Eaton, S. W. Nettleton, M. I. Wilcox, John Cummings, N. H. Swayne, J. B. Baldy, George E. Pomeroy, A. L. Spitzer, C. C. Waite.

COMMERCIAL NATIONAL BANK.

In October, 1865, Cyrus H. Coy, under the firm name of C. H. Coy & Co., started a Banking house in Toledo, and continued a successful business until merged into the Commercial National Bank of Toledo, which was organized September 9, 1875, and went into liquidation July 6, 1882, paying all demands in full. Its business was continued by C. H. Coy, who finally closed the same in April, 1883.

The capital stock of the Commercial Batik was $100,000. Its officers were as follows

President, C. H. Coy; Vice President, J. F. Witker ; Cashier, H. S. Halsted ; Assistant Cashier, N. W. Dyer. Directors-C. H. Coy, J. F. Witker, August Pilliod, H. S. Halsted, E. S. blair, W. S. Waite, D. W. H. Howard.

THE MERCHANTS' AND CLERKS' SAVINGS
INSTITUTION

Was organized in 1870, for the purpose of affording prudent persons a suitable place for the deposit of their savings, and at the same time encouraging such to add to their deposits by the payment of fair interest on the same. The first officers consisted of Matthew Shoemaker, as President; and Oliver S. Bond, as Secretary and Treasurer. Mr. Shoemaker continued as President for the period of 14 years, and was succeeded in 1884 by John A. Moore. January 3, 1888, Mr. Bond, who had been the Secretary and Treasurer from the start, was elected as President, with Fred. Eaton as Vice President, and E. Louis Schomburg as Treasurer. The latter gentleman, from the first hail served as Teller. Dudley G. Saltonstall has been the Book-keeper fir the past 12 years. The deposits now average about $325,000, on which interest at three per cent. per annum is paid semi-annually, in May and November each year. The stockholders are 150 in number. The amount of dividends paid to stockholders to this time is $170,000; the amount of interest to depositors, $95,000 ; and of taxes paid to the County, $25,000. The present surplus is $30,000. The Institution does no commercial business, and loans no money on personal security. From the start it has commanded in high degree the confidence of its depositors and of the public. The present Board of Directors is constituted as follows: Oliver S. Bond, Fred. Eaton, Milton Taylor, James Blass, Wm. H. Scott, Henry W. Bigelow and E. Louis Schomburg, of Toledo; and John Howard Lee, of Boston

BANKS AND BANKING - 497

NORTHWESTERN SAVINGS BANK.

December 14,1868, the Northwestern Savings Depository was organized by H. S. Walbridge, Richard Mott, James M. Comstock, Valentine Braun, E. H. Van Hoesen and A. E. Macomber. Mr. Walbridge was the President, and Mr. Van Hoesen the Secretary and Treasurer.

This institution continued until January, 1875, when it was changed to the Northwestern Savings Bank, with H. S. Walbridge, Richard Mott, Heman D. Walbridge, Conrad Huberich, A. E. Macomber and E. H. Van Hoesen as Directors; Mr. Walbridge as President, and Mr. Van Hoesen as Treasurer.

In 1877 the Bank was merged into the Toledo Savings Bank and Trust Company.

KETCHAM NATIONAL BANK.

In 1885, John B. Ketckam 2d established a private Banking House in Toledo, which was continued until January 1, 1888, when it was merged into the Ketcham National Bank, then organized, with a capital stock of $250,000. It commenced business at the Southeast corner of Madison and St. Clair Streets. The members of the Board of Directors were: G. G. Hadley, J. B. Ketcham 2d, J. H. Doyle, I. N. Reed, John Berdan, I. N. Poe, E. W. Tolerton, E. C. Shaw, W. O. Parker, E. L. Barber, and Philip Schmidt; with the following officers: President, J. B. Ketcham 2d; Cashier, S. H. Waring; Assistant Cashier, Elbert D. Ross.

BANKING HOUSE OF SPITZER & CO.

In 1881, C. M. Spitzer, L. Weidman and J. W. Weidman, under the firm name of Spitzer, Weidman & Co., established at Toledo a business for general Banking and dealing in Municipal bonds. In 1882, the Messrs. Weidman retired, and were succeeded by A. L. Spitzer, the firm becoming Spitzer & Co., as it now continues. Its place of business is in Chamber of Commerce building, Southwest corner of Summit and Madison Streets.

KEELER, HOLCOMB & COMPANY.

May 1, 1871, Salmon H. Keeler, Horace Holcomb and Elijah H. Norton, all of Toledo under the firm name of Keeler, Holcomb &Co., opened a Banking House at the corner of St. Clair and Monroe Streets, for the transaction of business common to such establishments. In September, 1886, Mr. Norton died. The house has since been continued by the other partners under the name of the original firm.

RICHARD MOTT was born on a farm in Mamaroneck, Westchester County, New York, July 21, 1804. He is of Quaker parentage, his ancestors on both sides having been among the early American converts of George Fox, and their descendants have loyally accepted and adhered to the same faith. His father owned a flouring tide mill on Long Island Sound, and was ruined financially by the effects of President Jefferson's" Embargo " policy, frona which the foreign commerce of the country suffered very much. Richard attended a Quaker boarding school, where members of the Society only were admitted, from his seventh to his tenth year, when he was set at work on the farm, plowing with a double team when but 11 years old.

In 1815 the family removed to New York City, where he was again at School for a time, without a holiday to break the uniformity of his course of study. At the age of 14 he was placed in a store as clerk, to begin the earning of a living. At 16 he taught a School, with the expectation of obtaining a Collegiate education, but found himself wanting in requisite financial means, and was compelled to return to his clerkship, where he continued to pursue his studies at night and early morning, in the hope of making up as far as possible for the disappointment of' being unable to go to College. At 20 he became a clerk in a Bank, remaining there till he was 32 years of' ago. At the age of 24, he was married with Miss Elizabeth D'1. Smith, a slaughter of Captain Elihu Smith, formerly of New Bedford, Massachusetts, the family being also of' the Quaker faith.

In February, 1836, Mr. Mott left New York for Toledo, where he arrived March 1st, by stage. e. As capital for a start in business here, he brought with him the savings from his wages, which amounted to $4,000. The only money gratuity he ever received was a legacy of 825, which he devoted to the purchase of' books.

At Toledo, Mr. Mott soon engaged in the Forwarding, Commission, and Grain business, which he continued without interruption until 1860. Aside from this, he dealt heavily in real estate, .ina[ had charge of large landed interests of others, including Governor Washington limit and the flicks estate.

From his first residence in Toledo, he has been prominently identified with the social, intellectual, humanitarian, material and financial interests of the City. To the community in its pioneer age, he was a tower of strength, whose force was the more potent amid the turmoil and strife resulting froth an ambitious population, composed of many antagonistic national elements, because of his firm, quiet, reasoning characteristics, which he had inherited from his Quaker ancestry and education ; and which, however, were keenly awake to the world about him.

In 1845 and 1846 he was Mayor of Toledo, acceptably filling the responsibilities of the position, which at that time embraced that of Police Judge, and also President of the City Council. Mr. Mott was among the earlier and

498 - HISTORY OF TOLEDO AND LUCAS COUNTY.

most active Directors of the Eric and Kalamazoo Railroad Company, in which capacity he was able to do much toward helping that pioneer Railway from the utter disaster with which for years it was imminently threatened; and in making it an effectual lever in promoting the supremacy of Toledo, as opposed to the business rivalry of neighboring Towns.

While his mind always inclined to intellectual pursuits; and while, from taste and habit, Mr. Mott was averse to active participation in political ind official life, his patriotism prompted him always to take an interest in what related to the welfare of his native land. Thus, from early manhood, he was in sympathy with some of the more distinctive principles avowed by the Democratic party, especially that of freedom of trade in international relations ; and he usually acted with that organization until 1848, when his strong Anti-Slavery sentiments led him to the support of Martin Van Buren, the then " Free Soil " candidate for President, as against Lewis Cass, the nominee of the Democratic party. He was prominently engaged in getting up the " Free Soil " Convention at Buffalo in that year, and active in its workings. At this time Mr. Mott became strongly impressed with the pronounced dissatisfaction which so extensively obtained among thinkers in both the Whig and Democratic parties, and around him rallied as nucleus those of his fellow Townsmen who were outgrowing ultra Pro-Slavery ideas, and who believed that commerce being the world's greatest civilizing force, should be free. Under the courage of his convictions, his allegiance was unswervingly given from this period until 1854 to the Anti-Slavery wing of the "Free Soil" party. When what was known as the "Kansas-Nebraska policy " of the National Administration had drawn more distinctly the lines between Pro-Slavery and Anti-Slavery, Mr. Mott at once arrayed himself on the side of the latter, and against his will he was made the Anti-Nebraska candidate for Congress, and was elected on that issue in 1854, receiving the support of a portion of the old Whig party, and that of the Anti-Slavery Democrats. Mr. Mott was re-elected in 1856, and declined a third term in 1858. In Congress he bore a useful and influential part, made such in the quiet exercise of his sound judgment and careful attention to the details of business, rather than in display in debate. Though always pronounced in his Anti-Slavery views, and never occupying evasive positions upon political, reformatory or other prominent issues, which at various epochs have agitated the public mind, and although ever inclined to be ultra radical in his opinions, Mr. Mott has been endowed with the happy faculty of not antagonizing his opponents, and to his harmonious life, he, in a large measure, owes his healthy, happy old age, with intellectual powers as fully preserved and more highly developed at 84, than at life's zenith.

In 1855, Mr. Mott's happy home-circle was broken by the death of the beloved wife of his youth ; and in 1860 his eldest daughter, Mary, a young lady of rare grace and exceptional mental endowments, passed away in the first flush of a most promising and beautiful womanhood. His youngest daughter and only remaining child, Anna C., has been spared to cheer and brighten his home, after its double bereavement. Her aid in creating one of the most genial, hospitable and refined homes in Toledo, is acknowledged by all who have felt its kindly influence, frona the guest blessed with wealth and high position, to the unfortunate in need and want. In 1873, he built the capacious residence at the Southeast corner of Monroe and Nineteenth Streets, which has since been his home.

With his constant engagements in business and in public affairs, Mr. Mott never was forgetful of the moral, social, educational and humanitarian interests of his fellow-citizens, giving much attention to all these as opportunity offered. His sense of justice led him in early youth to take interest in the Woman's Rights reform movement in its pioneer days, he asking no right or privilege for himself and his sex, from which he would debar mother, wife, daughter or sister. Mrs. Lucretia Mott, the illustrious wife of his elder brother, ever found in him a helpful and encouraging coadjutor. While yet in his boyhood, a remark made by his mother, touching the. right of private judgment, made a deep and lasting impression upon his mind. In the course of a social conversation with a Congregational Minister, the views of St. Paul were quoted by him in relation to the subjection of women, when Mrs. Mott, mildly, but firmly, replied: "All, but I do not agree with Paul on that point." This put an end to the controversy, for here was a woman who did her own thinking, and to whom Nature happily gave the mental force to transmit this valuable characteristic to her son.

In 1869, Mrs. Elizabeth Cady Stanton and Miss Susan B. Anthony were in Toledo, the guests of Mr. and Mrs. Israel Mall, when the formation of an Association for the political enfranchisement of Women was discussed. Mr. Mott at once gave it his hearty support, and a few months after when the Association needed a permanent home, he tendered it a local habitation in his Fort Industry Block, where for 18 years it has held regular monthly meetings.

Judging from the light of the past, Mr. Mott's foresight caused him to feel that to compass a reform as radical as the complete enfranchisement of Women, would require many years of agitation and education of the public mind. In view of this, in congratulating Mrs. Stanton upon her work, he once said to her, " By constant agitation half a century hence will bring

BANKS AND BANKING. - 499

about the changed social conditions, which will make possible all you are seeking to compass." Mrs. Stanton, with the zeal of the hopeful reformer, replied, "O, I hardly expect to live more than 20 years ; but I do expect to live to witness Woman's complete political enfranchisement." Time's changes have obliterated many of the enslaved conditions under which Woman has suffered throughout the ages; and while Woman suffrage obtains partially in many States and wholly in two Territories, its growth has only been such as to warrant Mr. Mott's prediction.

During the 18 years of its existence, the Toledo Woman Suffrage Association has found in Mr. Mott a never failing friend, and a valuable adviser in its work before the Legislature, the Constitutional Convention, and upon all questions pertaining to its advancement.

Mr. Mott may now generally be found during business hours at his desk, in his office, at the Toledo Savings' Bank. In his 84th year, his chirography is as firm and distinct as the best copperplate, showing no indication of failing powers ; while his always able mental characteristics increase with advancing years; and in person he is a living exemplar of a temperate and well-spent life, whose enjoyments now give him as much delight, as at its meridian period, and his strength is most certainly not that of labor and sorrow.

Since the above was written, Mr. Mott passed away, to the sorrow and regret of the community amid which his home had been, and with whose interests he had been identified for half a century. On Saturday the 14th of January, 1888, after posting his books, as usual, at the Savings Institution, he remarked to his friend, Mr. J. J. Barker : " There, John, the books are posted. You will find all correct, if I should never comeback." On being rallied as to his low spirits, he said he did not feel well, and possibly might never return. His premonitions of approaching dissolution were correct, and on Sunday, January 22d, he died peacefully, without a struggle, as he had lived. Never were expressions of regret more general at the demise of a citizen of Toledo. Its Banking Institutions, Orphans' Home, Industrial School, Home for Friendless Women, Woman Suffrage Association, and New Century Literary Club, all took formal action in honor of his memory by passing resolutions of respect, and of condolence to his daughter. Many societies attended his funeral. The New Century Literary Club, before which he had read a paper of much historical value, only a few weeks before he died, entitled "Second Hand Reminiscences," laid a laurel wreath, typical of his beautiful life and well earned farree, upon his coffin. He was buried at Rochester, January 27th, near the remains of his beloved wife and eldest daughter. At the regular meeting of the Toledo Woman Suffrage Association, in February, Mrs. Rosa L. Segar pronounced a eulogy, and Mrs. Mary J. Cravens read a touching poem illustrative of his manly worth. Woman Suffrage Associations throughout the United States honored his memory by tributes of respect. On February 24th the New Century Club held a memorial meeting at Mr. and Mrs. A. E. Macomber's, Mr. F. J. Scott presenting a biographical sketch, Reverend Charles Cravens, Mr. .J. B. Battelle, Miss Emily S. Bouton, eulogies; Mrs. R. L. Segar, reminiscences; Mr. H. B. Tillinghast a poem; Mrs. M. E. Moulton a tender tribute from Mrs. E. R. Collins, of Anaheim, California. Mr. Clark Waggoner, upon request, spoke briefly of the virtues of the honored dead and read extracts from Southern papers showing how the Slaveholders classed Richard Mott with Wm. Lloyd Garrison, Horace Greeley, and other leading Abolitionists, by placing a price upon his life. Mr. D. B. Smith also made appropriate remarks. To his only surviving daughter, and the City with whose interests he has been so closely identified, he leaves a priceless memory-that of a good man who left the world better because he bad for four score and four years been one of its sojourners.

SAMUEL M. YOUNG, Lawyer and Capitalist, was born in Lebanon, New Hampshire, December 29, 1806. He was a son of Samuel Young, a leading architect and builder, a member of the State Legislature and a citizen highly esteemed. The son's educational advantages were such as that section then furnished, including Academies. His course of studies completed, he turned his attention to the law, which he read with John M. Pomeroy, of Burlington, Vermont. This completed, he turned his attention to the matter of a location for his life-work ; and in May, 1835, came to Lucas County, settling at Maumee, where he opened an office and began, in a very small way, the practice of his profession. It so happened that his advent here was made during the memorable boundary controversy, known as the " Toledo War." His location at Maumee, outside the disputed territory, relieved him of personal participation in that contest; but upon the organization of Lucas County, the same year, he was appointed as its first Auditor, which position he held for two years. Iii 1838, Morrison R. Waite (now the Chief Justice of the United States), then a young man and a graduate of Yale college, came to Maumee from Lyme, Connecticut, for the practice of the law; and at once entered the office of Mr. Young, where he pursued the year's study requisite under the laws of Ohio. This preparation completed, he was admitted to the Bar. The subsequently well known firm of Young & Waite was then organized and continued in practice there until the removal of the County-seat from Maumee to

500 - HISTORY OF TOLEDO AND LUCAS COUNTY.

Toledo in 1852. In 1850, an office had been opened at Toledo, in charge of Mr. Waite, who then removed to that City. Mr. Young retired from the practice in 1856. Meantime, having turned his attention to banking, in 1855, with others, he purchased the Bank of Toledo, a branch of the State Bank of Ohio, with which he was actively as well as financially identified until it was reorganized, under the National Banking law in 1865, as the Toledo National Bank. Of this he was chosen President, in which position, without interruption, he has continued to this time (1887). Toledo has been Mr. Young's place of residence since his removal there in 1860, he having then purchased a fine residence on Madison Street between Thirteenth and Fourteenth. In 1862, he became associated with Abner L. Backus, in the firm of Young & Backus, who built the large Elevators, on Water Street, near Adams, designed more especially for Canal Grain traffic. That firm, after a continuance of 18 years, was succeeded by that of A. L. Backus & Sons. In the practice of the law, Mr. Young early attained a prominent position, the firm, almost from the first, having been recognized as at the head of the Bar of Northwestern Ohio. This attainment was largely due to Mr. Young's sound judgment, thorough education and painstaking care in the study and preparation of cases. At an early (late, he became interested in the toll-bridge crossing the River, connecting Maumee and Perrysburg, which, from repeated severe damage from floods, in time fell wholly into his hands, costing in all some $36,000. In 1877 it was purchased by Lucas and Wood Counties jointly, and made free. In 1852-53 Mr. Young became identified, as Stockholder and Director, with the Cleveland and Toledo Railroad, then in progress of construction, and continued such relation until that Road was merged into the Lake Shore and Michigan Southern Railroad. He was the largest Stockholder and a Director in the Columbus and Toledo Railroad, and continued in such relation until the Road was consolidated with the Columbus and Hocking Valley Road, and the organization of the Columbus, hocking Valley and Toledo Railroad. In 1866, he bought a large portion of the stock of the Toledo Gas Light and Coke Company; was active in its reorganization and the extension of its business, having been its President to this time. He was one of the projectors and organizers of the Toledo Hotel Company, in 1870, which in 1872 completed and still owns the Boody House, Northwest corner of' Madison and St. Clair Streets. He has served as President of that corporation since August, 1870. The erection of that house, which was opened in 1872, has been a matter of great value to Toledo. Mr. Young's political views and affiliations were formed during the Adams and Jackson Administrations, he becoming identified with the Whig party, then led by Clay and Webster, with which organization he continued to act until it was merged into the Republican party, of which he has since been a member. For the past fifty years he has uniformly declined public position, having at no time held office, save that of County Auditor, for services in which from September 14, 1835, to June 9, 1837 (21 months), he was paid the sum of $361.63. Throughout the War of the Rebellion, he was in sympathy and actively on the side of loyalty, contributing his share to the support of that cause. In religious views and sympathies he has long been identified with the Protestant Episcopal Church, and its several ecclesiastical and charitable institutions; while he has at all times supported whatever cause he deemed calculated to promote the moral well-being of his fellowmen. he is eminently a self-made man, so far as human destiny depends on self reliance and independent effort. His success in life has been due chiefly to these qualities applied in methodical and persistent work, attended by an economical course of living. He was married in 1841 with Miss Angeline L. Upton, step-daughter of Dr. Horatio Conant of Maumee. They have four children-Horatio S. and Frank I., constituting the firm of Young Brothers, Produce and Commission Merchants; Mrs. Helen E., wife of Frank B. Swayne; and Morrison Waite, all of Toledo.

VALENTINE HICKS KETCHAM was born in Cornwall, Orange County, New York, November 12, 1815. His father, Samuel Ketcham, a Farmer and Miller, was married with Miss Rachel Sands, at Cornwall. The son lived with his parents on the farm until 12 years of age, sharing such privileges as the Winter sessions of a District School supplied. In 1827 the family removed to New York City. Here the son remained for three years, attending School for a few months, but mainly employed as an apprentice to the carpenter's and ,joiner's trade. When 15 years old, from choice, he returned to the farm at Cornwall, working there for two years, and until his father returned from. New York. He then went back to the City to finish his trade; but here his entire course of life was suddenly changed. A merchant of his acquaintance suggested to him the propriety of' his going into a store as a clerk, and secured for him such position with J. F. Cropsey, Dry Goods dealer, on Canal Street. Liking his new employment, he continued therein until July 17, 1836. At this time, he started on a vacation trip to the West, in company with a Mr. Lane. Landing from steamer at Detroit, they passed into the interior of Michigan, where Mr. Ketcham bought 80 acres of land of the Government in Oakland County. From Detroit, he made a visit to Toledo, and returned to New York. In August

BANKS AND BANKING. - 501

following he left that City with a general stock of merchandise and opened a store in Toledo, at the bead of Perry Street, on St. Clair, now the site of the Merchants' Hotel, renting the premises of Coleman I. Keeler, Jr. Win. H. Raymond, now of California, was employed as a clerk. In the Summer of 1837, the store was removed to Summit Street, adjoining the Indiana House, and near Perry Street. The next year it went to the corner of Summit and Lagrange Streets, taking a building then recently occupied by Dr. Jacob Clark and Philo Bennett, merchants. In 1841 Mr. Ketcham removed his store to 32 and 34 Summit Street, where a small wholesale trade was commenced. The Miami Canal, connecting Toledo with Cincinnati, opening in 1843, extended his trade materially. In 1846, Joseph K. Secor became associated with him in the business, the firm being Ketcham & Secor, which continued until 1851, when Mr. Ketcham withdrew and devoted his attention more fully to Banking, having in 1850, with John Poag, begun that business. In 1853, John Berdan and S. S. Hubbard became associated with him, the firm being Ketcham, Berdan & Company, which continued in business until succeeded by the First National Bank of Toledo, in 1863, of which Mr. Ketcham, at the time of his death, had been the only President, covering a period of 24 years, during which time the exceptional success of that important financial institution was due largely to the conservative policy and watchful care of that gentleman ; and it now stands as a substantial monument to his memory. From an early period in his Toledo residence, Mr. Ketcham was more or less interested in real estate, having made purchases of the same soon after coming here. These were attended with varying results, but generally turned out profitable. In the earlier years of his business, he was subjected to the financial reverses then so common, not in Toledo only, but throughout the West. Recovering from these, his course of success became exceptional, until he came to be recognized as among the most wealthy men of Northern Ohio. For such unusual success in the acquisition of property, he regarded himself' as chiefly indebted to the timely experience due to limited means and necessity for self-reliance, which marked his early years, whereby he became habituated to the practice of economy and care in the use of his income. While his capital came to be largely employed in banking and other financial uses, for many years previous to his death he invested liberally in the improvement of real estate. Among the buildings constructed by hint are the following: The block of three four story Stores, 28-36 Summit Street; two Stores, 63-65 Summit; two Stores, corner of Summit and Jefferson Streets; in connection with Mars Nearing, the four-story block, 189-199 Summit, corner of Adams; the tour-story block, corners of Summit, Oak and St. Clair; and the like building, under construction at the time of his death, at the Southwest corner of St. Clair and Oak Streets. Beside these, Mr. Ketcham erected a number of smaller business buildings and dwellings. In 1843, he cut the brush and cleared the ground on which now stands the Produce Exchange building, 56-60 Madison, corner of St. Clair Street, and thereon erected a brick dwelling. At that time there was but one other house within sight of' that point-that of Charles G. Keeler, on the site of the new Government building, Southeast corner Madison and St. Clair Streets. For the former lot Mr. Ketcham paid $1,000, and subsequently sold it to John Poag for $4,700. The Produce Exchange, for the same, paid the sum of $55,000. In 1852 he purchased the Western 60 feet of the site of the new Government building for $1,200, and in 1864, sold it for $4,500. In 1880, it was sold to the United States for $27,000. These facts are interesting as showing something of the advance in values within the business portion of Toledo. As a result of rigid practice of care in diet and life long habits of out-door activity, Mr. Ketcham preserved, in remarkable degree, the vigorous physical strength with which he was blessed in childhood. Bound as he was, during the latter years of his life by the care of vast and complex business interests, his love for agricultural pursuits was habitually indulged in daily personal attention to farming operations carried on by him. By such indulgence, no doubt his life was for years preserved. The mile of distance between his residence and the Bank, was rarely passed save on foot. He died at his residence, corner of Cherry and Bancroft Streets, July 30, 1887, after an illness of' two weeks. The funeral was attended by his entire family, together with a large concourse of friends and neighbors, including delegations from the Produce Exchange, of which he was a member, and the Bankers of the City. At meetings of the Produce Exchange and Bankers, resolutions were passed expressing high respect for the memory of the deceased and condolence with the afflicted family. Coming to Toledo 51 years ago, and throughout that long period of time actively and prominently identified with the business and development of the City, very few of his early Toledo neighbors have been permitted to witness the advance in population and material wealth, which was his privilege. Mr. Ketcham was married at Toledo, December 30, 18-11, with Rachel Ann, daughter of Pamela and John Berdan. They had four children-Mary, wife of' Mars Nearing, the succeeding President of the First National Bank; John B. 2d, now President of Ketcham National Bank; Valentine H. jr., Director in First National Bank ; and George H., Civil Engineer and Director in First National Bank, all of Toledo.

502 - HISTORY OF TOLEDO AND LUCAS COUNTY.

GEORGE W. DAVIS was born near Bellows Falls, Vermont, August 17, 1821. His parents were Hiram and Eliza (Wheeler) Davis, the former a native of Vermont and the latter of New Hampshire. His first educational privileges were limited to the local Schools of the neighborhood. Subsequently he attended an Academy in the State of New York, where, at the age of 16, he closed his studies. At this time he went to New York City, and engaged as a Clerk in a Dry Goods house, remaining there four years. With such experience in trade, he established a store at Lockport, New York, in 1844. Remaining there in successful trade for 10 years, in 1854 he took the contract for the construction of the portion of what is now the Wabash Railway between Toledo and Logansport, Indiana, of which his brother inlaw, the late Warren Colburn, Was the Chief Engineer. This was no small enterprise, especially for that early day, being probably the largest Railway contract that had been undertaken in the West. Its execution occupied six years, and was made complete, to the satisfaction of' the Company, its efficient management leaving the contractor with a fair financial balance, while other contractors reached less satisfactory results. In 1861, Mr. Davis established the Marine Bank. of Toledo, under State authority, of which he was the President. In 1864, the National Banking system, meantime, having been established, he organized the Second National Bank of Toledo, of which he was chosen President, and with which, the following year, the Marine Bank was merged. The eminent success of this institution is largely due to the watchful care of Mr. Davis, who for 24 years has been at its head ; while such relation has given him special prominence in financial circles, at home and abroad. At the same time, he has been identified with various commercial and other business interests. In 1861 he was one of the lessees of the Ohio Canals, which interest he retained for many years. he was one of the originators of the Toledo Branch of the Canada Southern (now of the Michigan Central) Railway. e also was for several years a Director of the Wheeling and Lake Erie Railway. In the organization of the Wabash Elevator Company at Toledo, with a capital stock of $1,200,000, he took a leading part, and has been a Director of the same from the start. For many years he was interested in insurance, serving for a long time as President of the Home Insurance Company. He was among the originators of the Tri-State Fair Association of Toledo, and a Director and the Treasurer of the same. Never a seeker for public office, Mr. Davis has served in different important local positions. Among these has been that of member and President of the Board of Sinking Fund Commissioners of the City of Toledo, and of' the Board of Water Works of Toledo. he was one of the founders and a Director of the Northwestern Medical College at Toledo; a Director of the Industrial Art School, and of the Protestant Orphans' Home of Toledo. In these, as in other modes open to him, Mr. Davis has been actively identified with the welfare of his fellow-citizens. Under the heading, "Men You Know," one of the leading papers of Toledo had the following: " Toledo has few citizens who are better known than George W. Davis, President of the Second National Bank. Mr. Davis is close up to six feet in height ; of the withy style of structure ; of light hair and a Roman face. He is a man who at once would be recognized as possessing brain-culture, business energy and integrity. There is much of the Bostonian element in the character of Mr. Davis; and to many he has the appearance of one difficult to approach, not possessing the manners of Western people, who care little or nothing for polish or conventionality. Mr. Davis is not only well-informed upon questions of finance and trade, but is an extensive reader of the best literature of the times; is fluent and forcible as a talker and speaker; reaches conclusions quickly and correctly; and is regarded as one of' our most capable business men, as evidenced by the fact that he has held the Presidency of one of our leading Banks for many years. He is publicspirited-always willing to help any deserving enterprise, and is not afraid to trust his judgment in making investments. He likes a food horse, and usually drives two of then. By superior foresight, Mr. Davis has investments in some of the most profitable enterprises in our City, and seldom makes a mistake in his estimate of the outcome of any business enterprise. Whatever he undertakes is' pushed for all there is in it.' He takes no little interest in local affairs, and in political movements generally adhering to his party (the Democratic) in State and National contests, but supporting the best men for local offices, regardless of party affiliations. He is a good type of the best New England business men, and those who know him best, esteem him most." In 1872, with his wife, Mr. Davis visited Great Britain and the Continent; Mrs. Davis making two like trips since that time. From early life, Mr. Davis has been an attendant at the Protestant Episcopal Church, and has served as Vestryman in Trinity Church, Toledo, for over 25 years. In April, 1851, Mr. Davis was married at Syracuse, New York, with Miss Eunice H. Parmelee. Their home in Toledo has ever been one marked by social hospitality and refinement.

WILSON W. GRIFFITH was born near the Falls of Sugar Creek, Tuscarawas County, Ohio, February 14, 1823. He was a son of Walter Griffith. His mother's maiden name was Elizabeth Jennings, and the parents were married at Georgetown, District of Columbia. They came to Ohio about 1803, settling on a

BANKS AND BANKING. - 503

farm near the Falls of Sugar Creek. Being among the earliest settlers of the County, they were subjected to the experiences common to the pioneers of that date, which included severe toil, privation of comforts of life, sickness and want of social and educational privileges. They were located about 25 miles North of Gnadenhutten, the scene of the massacre of Moravian Indians, 20 years previous to the arrival of Mr. Griffith and family. The father died in 1827. When 14 years of age, Wilson left the farm and went to Lebanon, Wayne County. Here he remained for a few years, and then engaged as Clerk in a Store at Massillon. In 1840, when 17 years of age, he went to Oberlin, with the view of taking a full College course, but after spending about two years in preparatory studies his health so far failed, that he was compelled to relinquish his purpose, much to his disappointment. In 1843, he went to Bethlehem, Stark County, where he acted as Clerk in a Store and taught School. In the same Town Joseph Medill, now Editor of the Chicago Tribune, also taught a School. Mr. Griffith commenced his business life in 1845, by opening a Store at Sugar Creek. In 1849 he removed his stock to Middlebury, Indiana, and also engaged in milling there. Remaining until 1854, he then came to Toledo, and engaged in the Grain, Warehouse and Commission business with Wm. G. Powers, occupying the Old Red Warehouse," foot of Monroe Street, which property Mr. Griffith soon purchased and yet owns. In 1858, with Robert Cummings, Mr. Griffith engaged in the Wholesale Boot and Shoe trade. This arrangement continued until March, 1.862, when the firm of It. & J. Cummings took the business, and Mr. Griffith returned to the Commission and Grain trade, at the former stand. his health again becoming impaired, in 1866 he commenced a series of journeys, including visits to Europe, Asia, and Africa, and to many portions of the United States, including the Pacific Coast. In the course of his home travels he has visited all the States of the Union, and every one of the Territories, save Dakota, Montana and Alaska, Many letters written by him to his family, while abroad, were pub. fished by the Toledo press, and for their intelligent, discriminating style of description, were much valued by readers. Like communications were furnished from the Pacific Coast and elsewhere. In 1869, Mr. Griffith was elected as Representative to the Ohio Legislature, in which capacity he occupied an unusually prominent and useful position. Among other things, he presented and ably supported in debate, a series of resolutions protesting against the bad faith of the State of Indiana, in not maintaining according to the obligations assumed by her, her section of the Wabash and Erie Canal. In 1871, with henry 13. Probasco, of Cincinnati, be was appointed by President Grant a Centennial Commissioner for Ohio, holding such position until the close of the Exposition of 1876, at Philadelphia. Throughout the Rebellion, with the earnest co-operation of Mrs. Griffith, he was active and effective in contributing to the needs of the Soldiers of the Union; and although from physical incapacity, exempt from military service, he sent two substitutes to the field. In 1871, Mr. Griffith was chiefly active in the establishment of the Merchants National Bank of Toledo, of which he was the President until 1882. He was prominent in the establishment at Toledo of the Milburn Wagon Works, one of the largest manufacturing concerns of the kind in the world, which has contributed largely to the prosperity and population of the City. In politics Mr. Griffith was originally an Anti-Slavery Whig, and since the organization of the Republican party has acted with that as being nearest to his earliest and most settled political convictions. In 1844 he was married with Miss Margaret Miller of Cuyahoga Falls, Ohio. They have two children-Ethelbert S., of Toledo, and Mrs. Alice D. Rycroft, of New York.

OLIVER S. BOND was born June 29, 1831, on his father's farm, near Richmond, Indiana. he is the eldest son of William Commons and Hannah Locke Bond. His parents are members of the Society of Friends, his grandfather Jesse Bond having been a Preacher therein for over sixty years, (lying at the age of 84; while his grandfather William Locke sat at the head of the Meeting, at Economy, 10 miles distant, for about the same period, and died at about same age. Oliver was Clerk of the Meeting when but 16 years of age, the Meeting-house being on his father's farm. His parents were married September 23, 1830, and now in the 58th year of their wedded life, and in the enjoyment of fair health and vigor, are living by themselves, enjoying all of life's comforts in the old homestead built on the ground where Oliver was born. Of six children born to them, there has been no death. An uncle, Nathan Bond, in July, 1887, celebrated his 67th marriage anniversary, having been married in 1820. An aunt, Ruth Nicholson, celebrated her golden wedding two years ago; and an uncle, John A. Locke, his mother's brother, celebrated his last year; they all living on neighboring farms. The Bond family have occupied the old homestead for nearly 100 years. The Bonds and Commons came from England and Scotland, and settled in Virginia, near Harper's Ferry ; the Lockes and Mills, on his mother's side, also from England, at a very early elate, settled in Maryland, near Baltimore. Jesse Bond moved West about 1800, being the first white family to cross the White Water River, at Richmond, for settlement. Oliver's childhood, and his youth until 19 years of age,

504 - HISTORY OF TOLEDO AND LUCAS COUNTY.

were spent on the farm. He attended District Schools during a portion of the Winter seasons, which, with two terms at White Water College, constituted his School privileges. His mind was much absorbed in his educational pursuits so much so, that he sometimes took his lessonbook to the field, that, by studying while others rested, he might the more fully keep up with his studies. At the age stated (in 1850) he left home anti went to Peru, Indiana, where he found employment as Clerk in the store of Smith & Crowell, who then had the trade of the Miami tribe of Indians, then somewhat numerous in that vicinity. With these he held specially friendly relations, and many incidents might be given of his experience and observation in connection with them. In 1854 he went to New York City, spending two years with a Wholesale Dry Goods and Notions Store, traveling throughout the West, making collections and soliciting trade. Coming to Toledo in 1856, he found employment with the firm of Bell, Deveau & Co., as Salesman and Collector. he remained with that house and its successors for two years, and on July 15, 1858, with Wm. B. Messinger (firm Messinger & Bond) opened the first exclusively Wholesale Boot and Shoe establishment in Toledo. Continuing in the trade for 12 years, he retired, being succeeded by what is now the house of Dewey, Rodgers & Co. he then had been for several years a Director in the Northern National Bank, and to provide for the temporary absence of President Shoemaker in California, in 1871, he was elected Vice President, and became Acting President of the Bank. While connected with that Rank, he conceived the plan of establishing in Toledo a Savings Bank for the exclusive use of savings; and the more fully to mature the same, he spent many months in critical investigation of' the principles and methods of such institutions in New England. While East, his arrangements find such enterprise were so far advanced that most of the requisite capital stock was taken there, by his personal friends and relatives. Returning to Toledo, the organization of the Merchants' and Clerks' Savings Institution was completed February 10, 1871, with ;Matthew Shoemaker as President, and Mr. Bond as Secretary and Treasurer. The latter held that position for over 17 years, during which period the institution enjoyed uninterrupted prosperity under his management, meeting in full the expectations of its stockholders and possessing the entire confidence of' depositors and the public. At the last annual election, held January 3, 1888, Mr. Bond was chosen President, and E. Louis Schomburg Treasurer. Naturally of a conservative turn of mind, that quality has been specially controlling in Mr. Bond's business life, whereby he has been able largely to guard his own interests and those of others committed to his charge, from the perils of rash and inconsiderate ventures under alluring conditions. During his business life he has taken vacations from time to time for the purpose of recreation, visiting the South three times, and making trips to California, the North and the East, beside a visit to Great Britain and France. He owns a farm near Toledo, where he finds mich pleasure and recreation. Since first leaving home, it has been his invariable practice, to make annual visits to his parents, which occasions have been marked by special interest and mutual profit, and attended by large numbers of family connections and other friends. Mr. Bond has been habitually an extensive reader of current literature, of which he has always had large supply. For 25 years he has lived in the house on Superior Street, bought and furnished, by hint before his marriage, and has occupied the same business building, 78 Summit Street (owned by him), for 30 years. he has been identified in different ways with the welfare of his fellow-citizens. He is a life-member of' several charitable and benevolent institutions; is Vice President of the Toledo Humane Society; and for many years was a Trustee of the Toledo Library Association, before it was merged into the Public Library. His interest in religions work has been shown in habitual attendance on public services and in contributions for support of' religious work.

Mr. Bond was married in New York City, December 23, 1863, with Miss Clara A. Raymond, only daughter of Hon. John Raymond. They have had six children, of whom four are now living. Henry, the eldest son, while completing his education in England, ,vas married with Miss Carrie Dalton, an Artist of note, they now residing at Los Angeles, California. The two daughters, Eva and Mabel, and the younger son, Walter, are with their parents in Toledo. The living children are all members of Trinity Church, as also is Mrs. Bond, who has been actively and usefully identified with the work of Trinity Church, as with benevolent enterprises of different kinds, contributing liberally in labors and means, as opportunity offered, to the comfort and relief' of others.

REED VINCENT BOICE was born March 21, 1832, at Pipe Creek, Tioga County, New York. He is a son of John P. and Roxy (Williams) Boice, the latter's home previous to marriage having been at Albion, New York. The family removed to Oak Orchard Creek, Orleans County, where the mother died in 1837. The following year the son came to Ohio with an uncle, who settled on a farm near Venice, now in Erie County. There and in the vicinity Reed remained for eight years, living about, as fortune favored, until he was nine years oŁ age, when he began his life of self-support in the family of a neighbor, with whom he remained until he came to his father at Toledo, in March,

BANKS AND BANKING. - 504

1846, making the trip of about 45 miles on foot. His father was a contractor and a mason by trade (the latter then including stone and brick-work and plastering), and had been in Toledo several years. He built several of the first brick buildings here, including the dwellings now occupied by Rev. Wm. W. Williams (424 Superior Street), and General C. B. Phillips (495 Summit Street), and what came to be known as the Collins House, Northwest corner of Jefferson and St. Clair Streets, now the site of the Hall Block. The son at once began work with his father, and con tinned the same until his majority. He then commenced business on his own account, as Builder and Contractor. In 1854 he opened a Grocery and Provision Store in East Toledo, then a separate Town and known as Utah, meantime pursuing the business of building. In 1861) he sold his store to James Raymer. In December, 1861, the Rebellion having broken out, he volunteered for service in the Union Army, and was mustered in is Hospital Steward of the Third Ohio Cavalry. Serving as such until November 30, 1864, he was then promoted as First Lieutenant, and detailed, first as Regimental, and subsequently as Brigade Commissary. In such capacities he served, to the full acceptance of commanding officers, until mustered out, August 14, 1865, at the close of the war, meantime having been promoted to the rank of Captain. Throughout nearly tour years of service he was active, earnest and efficient in the important department to which he was assigned, his methods in some respects differing from others known to the service. He never dealt in Soldiers' rations; but in cases of accumulation from non-use, his practice was to divide the surplus among the Soldiers to whom, by right, they belonged. At the close of the War Captain Boice found that the support of his family and pecuniary liability for others had pretty much exhausted his financial means, when he returned to his trade as a mason, and was soon measurably successful. In 1880 he became interested financially in manufacturing enterprises which proved to be unfortunate in results, causing material loss to investors. It is quite cafe to state, that Mr. Boice has been identified, as full or partial builder, with more substantial brick buildings and other structures in Toledo than has any other man. Among these are the Boody House, the Hall Block, First Congregational Church edifice, the Drummond Block, the Burnett House, Eaton's Store (165-171 Summit Street), Merchants National Bank, Store 132-134 Summit Street, Trinity Church edifice (corner Adams and St. Clair Streets), the Water Works Stand Pipe, St. Joseph's Church edifice, residences of P. F. Berdan, A. B. Waite, Wager Swayne, and others; the Blade Printing and Paper Company building; the First, Fifth, Seventh and Eighth Wards School buildings, and the Fifth, Seventh, and Eighth Wards Fire Engine houses-each of which structures bear substantial testimony to both his skill and his fidelity. In January, 1883, the Directors of the Merchants National Bank elected him as President of that institution, which position he has since held, to the special acceptance of the stockholders and customers. His standing among his fellow-citizens and where an active life of over 40 years has been passed, is that of an industrious, enterprising and honorable man, with an active interest in whatever concerns the weil-being of others. Mr. Boice was married October 31, 185`', with Miss Lois A. Smith, in Groton, Erie County. They have four children-Frederick, John R., Warren, and Emma L., wife of Dr. Harry W. Hartwell - all residents of Toledo.