PAGE 386 - HISTORY OF SENECA COUNTY.

CHAPTER XII.

BANKS AND INSURANCE.

FOR years after the settlement of Seneca the banking house, as we know it to-day, did not exist in the county. Private enterprise, however, supplied the wants of the period, and moneys were loaned at any rate of interest which might be agreed upon, with ironclad security. In many cases financial aid was given by one neighbor to another, with simply a " promise to pay " when convenient. A reference to the organic chapter points out the fact that loans of a few thousand dollars-a large sum for that period-were negotiated in Virginia, and later in the more important cities in Ohio; then followed the "wild-cat" banks and counterfeiters' dens, which, on being wiped out, gave place to legitimate banking houses. The first bank tray be said to have been established in July, 1847, when William H. Gibson, Benjamin Tomb, Samuel Waggoner,

R. G. Pennington, Alfred Johnson, Rufus W. Reid, Daniel Smith, William Fleet, William M. Buel and Daniel Brown subscribed $15,000, and applied for power to open a banking house. Less than a month later the application was amended, the capital stock raised to $100,000, other members added to the original company, and a charter granted by the county commissioners,

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August 9, 1847. The bank was opened November 13, 1847. This was followed by the Bank of Tiffin, organized in 1858; the National Exchange Bank, organized in 1865; the Tiffin Savings bank, organized in the spring of 1873, and incorporated March 3, 1873, and the Commercial Bank, opened in June, 1876, one of the leading' houses of northwestern Ohio. Foster & Co. and Emerine & Co., of Fostoria, are among the leading bankers of the State, while in the principal villages throughout the county regularly organized banks are found, all of which are noticed in the township and city histories.

Insurance Companies.-The first local insurance corporation was known as the "Seneca County Mutual Fire Insurance Company", chartered by the State, and organized March19, 1850, with Andrew Lugenbeel, president, and J. W. Wilson, secretary and general agent. The first policy was issued October 29, 1850. The secretary died at the beginning of the winter of 1856, when William Lang, who was president in 1851, was elected secretary. He found the company's affairs in bad condition, was unable to extricate the concern, and finally John McCauley was called in as directors' attorney, to collect assessments ,pay off debts and wind up its affairs.

The Farmers' Mutual Relief Insurance Company was established in 1858, and reorganized under State law, April 12, 1878. Among its leading members are grouped some of the best citizens of the county.

The Tiffin Mutual Aid Association was organized January 23, 1879 with the following named members: Albert L. Flack, John Houck, Edward Jones, W. P. Noble, A. J. Brickner and E. J. McCollum, M. D. This is one of the flourishing local insurance companies of the State.

The Golden Rule Aid Company, of Tiffin, was organized October 19, 1880 with J. W. Ridgely, J. W. Chamberlin, S. Chamberlin, Charles Martin and L. Montague, members.

The Mechanics' Mutual Protection Society No. 25, was organized under State law, January 20, 1849, on motion of D. Cunningham, with H. T. Dewey, S. P.; John Poorman, J. P.; Cyrus Milhouse, R. S.; William Kielholls, Jacob Huss and Cyrus Milhouse, trustees, The first annual election of officers of the Union Aid Society of Tiffin, was held August 13, 1883, and the following officers were elected for the ensuing year: President, W. H. Myers; vice-president, L. Friedel; secretary, Nicholas Smith; treasurer, John Lawrence.

The foreign insurance companies introduced their business into the county about twenty-nine years ago, when the Home Insurance Company wrote policies. This was followed by the Aetna, and so on until the capital represented here now may be said to amount to $1,000,000, 000.

Gabriel J. Keen insured at a time when all policies were written at the home offices of the companies he represented. John T. Huss, whose tragic ending is referred to in other pages, was also an insurance agent. Bachman & Koppel transacted a very large business here for some years. A. H. Byers and A. L. Flack were also extensively engaged. The latter was succeeded by H. T. Holler, of Ottawa County, who has now one of the leading insurance agency offices of the county. A. C. Barber's agency was established about 1873, and conducted by him until his interests were purchased by Charles J. M. Sullivan, ten years later. The companies represented by Mr. Sullivan are among the best known doing business in the United States.

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covered in the condition of homes, farms and society; their light of science to illuminate and invigorate the natural powers, facilities of communication which tend to develop the social nature of man, and bring into visibility the various interests by which he is connected with society; as these are appreciated cultivated and brought into constant use, the vital energies, the enduring strength and substantial wealth of a community. are advanced. If we adopt this general rule in the county and take the condition of its public institutions as a criterion of its advancement in intelligence and wealth, we shall find that it has few rivals. While acknowledging all the labors, all the intelligent work of the pioneer settler, the new-comer must not be forgotten. Among the men and women who settled in Seneca County since the close of her pioneer period tire many who have spread around them the blessings and benefits of well directed enterprise in all branches, whether manufacturing or commercial, educational, religious or social. No county in the Union, of an equal number of inhabitants, can look back to a fairer moral record, or point out a greater proportion of inhabitants engaged in health and wealth-giving labors.