(RETURN TO THE TITLE PAGE) AND REPRESENTATIVE CITIZENS - 151 ware Company, Markle and Inman Company and Fred H. Weeks. In 1875 Joseph C. Ewart commenced in the southern part of the city the manufacture of vitrified roofing-tile. In 1902 this company was incorporated under the name of the Akron Roofing Tile Company, S. A. White, president; Charles E. Howland, secretary and treasurer and general manager; W. B. Collins, assistant secretary. There have been a number of successful brick manufactories in the city, among which are the Diamond Fire Brick Works, established in 1866 by J. Park Alexander. The business is still carried on at the corner of Canal and Cherry Streets in this city. The Akron Fire Brick Company was established in 1873 by Byron A. Allison and Delos Hart. Since 1877 Mr. Allison continued the business alone until the incorporation of the company in 1882, with a capital stock of $50,000. CEREAL MILLS. Reference has been made to the small gristmills which were operated in the county in the early days. These were, of course, of a very limited capacity and were destined merely to meet the needs of the farmers in the surrounding territory. They brought their grain to these primitive mills and sometimes waited until it was being ground to flour. On account of lack of transportation facilities, little or no attempt was made to find a market for dealers extending outside the county. In 1832, just after the canal was opened from Cleveland to Portsmouth, milling on a large scale was begun. The first of these large mills was the Old Stone Mill, which was built in 1832 by Dr. Eliahim Crosby, and those interested with him in his canal projects. This was built to use the waters of the race from the Old Forge through the center of Main Street to Lock Five. In 1838 the Etna Mills, located on the canal, just north of West Market Street, was built by Samuel A. Wheeler and John B. Mitchell. A year later, Joseph A. Beebe and William E. Wright built the Center Mills, also located on the canal at Cherry Street. In 1840 the Cascade Mills at the terminus of the races on North Howard Street, were built by William Mitchell. A year or two after, George W. McNeil built the City Mill on West Market Street between Canal Street and the canal. George Ayliffe about the same time commenced the manufacture of cereal goods on South Main Street. He sold out to Carter and Steward, who continued the business of making oatmeal until their mills were destroyed by fire in 1881. In 1856 Albert Allen established the Allen Mill on Canal Street, just south of Cherry Street. In 1851 Ferdinand Schumacher came to Akron from Germany. He was born in Celle, Hanover, March, 30, 1822, and came to the United States in 1850. He worked one year on a farm near Cleveland and in 1851 opened up a fancy goods store in the Hall block on the corner of Market and Howard Streets. His partner in this was Theodore Weibezahn. Their store was a very small one and fronted on West Market Street. It did not offer the inducement for advancement, that Mr. Schumacher desired and, accordingly, in August, 1852, he started a small grocery store in the room now occupied by the Dollar Savings Bank. His business growing rapidly, he moved to a larger stand across the street, next to the Empire House. In 1859 he commenced making oatmeal on a very small scale in a frame building on. Howard Street. Loyal to his native country, he named it the German Mill. Oatmeal was a new thing in this locality and its sale was at first very slow. The early deliveries were made in a hand-cart, and a humbler beginning could not have been made. Mr. Schumacher in a few years added the making of pearl barley to his line. In 1863 he built the first of his mills on South Summit Street, between Mill and Quarry. In 1872 a new German Mill was built there. In 1879 a large grain elevator was built by Mr. Schumacher. Then came the Big Jumbo mill, an eight-story structure, devoted entirely to the making of cereals. Then a fine, stone office building, costing $80,000, was built on the corner of Mill and Broadway. Mr. Schu- 152 - HISTORY OF SUMMIT COUNTY macher was now the foremost miller in the world. The company, of which he was the founder and head, had reached the climax of prosperity, when, on the night of March 6, 1886, the entire plant was destroyed by fire, entailing a loss of over a million dollars to the company. In April, 1886, just a month after the destruction of the big plant by fire, the Ferdinand Schumacher Milling Company was incorporated, with a capital stock of two million dollars. The Old Stone Mill, which had been operated by Cummins and Allen, was consolidated with the Schumacher interests. Mr. Ferdinand Schumacher was made president of the new company. In July, 1891, the American Cereal Company was incorporated, with a capital of $3,400,000. This was composed of all the principal oatmeal mills of the United States. It absorbed the Hower Milling Company of Akron. In 1907 the Quaker Oats Company took the place of the American Cereal Company. Just after the formation of the American Cereal Company the principal office was established in Chicago and many of Akron's best citizens were taken to that city on account of the change. The representative of the officers of the company at Akron is J. H. Andrews, the local superintendent. In 1870 Robert Turner commenced the manufacture of oatmeal on the corner of Canal and Cherry Streets. He was succeeded in 1879 and 1880 by The Hower Company, of which John H. Hower was president; Harvey Y. Hower, vice-president; M. Otis Hower, secretary, and Charles H. Hower, treasurer. At the time of their consolidation with the American Cereal Company they were doing a very large and prosperous business. In 1883 John F. Seiberling organized the Seiberling Milling Company, and built a six-story brick flouring mill in east Akron, which is now the Akron plant of the Great Western Cereal Company. It was organized with a capital of $200,000, and had a capacity of 100 barrels a day. The first officers were J. F. Seiberling, president; Lucius C. Miles, secretary, and Frank A. Seiberling, treasurer. In 1901 it became a part of the Great Western Cereal Company, with a capital of $3,000,000, The Allen Mills were founded about 1845 by Simon Perkins, Jedediah D. Commins, Alexander H. Commins, Jesse Allen, Hiram Allen and Jacob Allen. The mills were afterwards converted into flouring mills by the Perkins Company and afterwards the Allye and Company was formed of F. H. Allen, Victor J. Allen and William A. Palmer. THE MATCH INDUSTRY. At one period of its existence Akron was known as the "Match Town." This was on account of the location here of the Barber Match Company, which afterwards became the Diamond Match Company. The most primitive form of the match was the small, pine stick, coated with certain chemicals, which were lighted by dipping the chemical end in a solution of aqua-fortis. Matches afterwards were made by using a chemical composition, which could be ignited by means of a piece of sand-paper. Late in the thirties came the Loco-Foco match. Samuel A. Lane and James R. Miltimore were the pioneer makers of matches in Akron. These Loco-Foco matches were of pine, dipped alternately into melted brimstone and a phosphorus composition. S. A. Lane and Company began making them in 1838. They continued the business only about a year, finding little profit in it. In 1845 George Barber commenced the manufacture of matches in a small barn in Middlebury. This was the humble beginning of the great Diamond Match Company of today, with its great factories and universal business. Mr. Barber found the business profitable and made several removals, finally occupying the entire woolen factory which stood on the site of the present Goodyear Tire and Rubber Works. In 1865 the Barber Match Company was formed, with George Barber, president; 0. C. Barber, secretary and treasurer, and J. K. Robinson, general agent. In 1871 the Barber Match Company moved to South Akron to where the Diamond Rubber AND REPRESENTATIVE CITIZENS - 153 works is now located. In 1881 the Barber Match Company, with twenty-eight other establishments in the United States, were incorporated under the name of the Diamond Match Company, with a capital stock of $6,000,000. Mr. 0. C. Barber was made president of this company and John K. Robinson, treasurer. Today the Diamond Match Company is one of the great industrial corporations of the world, and the most credit for its success is due to the Akron man, Ohio Columbus Barber, who has been its president since its inception. In 1879 the Miller Match Company was formed for the manufacture of parlor matches in the building which formerly stood just west of the old plant of the B. F. Goodrich Company. It was organized by Harvey F. Miller and S. S. Miller. Col. A. L. Conger was its president. In 1885 it was incorporated with a capital stock of $100,000. In 1888 it was sold to the Diamond Match Company. AGRICULTURAL IMPLEMENTS. The Buckeye Mower and Reaper Works: In 1864 a branch of the A. Aultman Company, of Canton, was established in Akron and the manufacture of mowers and reapers was commenced in the great plant along the railroads at the corner of Center Street. A separate company was then formed to conduct the business and was known as Aultman, Miller and Company. Lewis Miller was the general superintendent of the works from the beginning, and, under his able direction, the company grew to be one of the largest institutions of its kind hi the country. Much of the Buckeye machine was the invention of Mr. Miller himself. G. W. Crouse was president; Ira Miller, secretary, and R. H. Wright, treasurer. The company continued to do a prosperous business until about 1902, when the organization of the International Harvester Company deprived the local company of its opportunity to compete on equal grounds. In 1905 a receiver for the company was appointed and the entire assets were sold to the International Harvester Company, by order of the court. The litigation over the failure of the Aultman, Miller Company' is still (in 1907) pending. In 1865 John F. Seiberling organized the J. F. Seiberling Company and established the Empire Mower and Reaper Works on the railroad, near Mill Street. Mr. Seiberling had been a druggist in Akron and in 1858 had invented the Excelsior mower and reaper, with a dropper attachment. In 1861 he commenced the manufacture of them at Doylestown. In 1864 he began the manufacture in Massillon, and in 1865 brought the industry to Akron. A large business was soon established and very extensive shops were erected. In the panic of 1873 the company was unable to weather the storm and an assigned in insolvency tonic possession of the plant. When the Excelsior plant was sold, Mr. Seiberling purchased it and organized a new company, entitled the J. F. Seiberling Company, with himself as president; F. A. Seiberling, secretary and treasurer, and Charles W. Seiberling as superintendent. Capital stock was $160,000, and the plant was known as the Empire Works. The business at first was successful, and Mr. Seiberling reaped a large fortune. In the year 1900 business began to fail and ultimately an assignee was appointed by order of court and the business wound up. The old Empire 'plant was afterwards occupied by the India Rubber Company and still later by the Fiebeger Heating Company. The Akron Iron Company was established by Lewis Miller and other parties interested in the Aultman, Miller Company in 1886. Large rolling mills were built on the railroads south of Exchange Street. Upon its reorganization in the year 1900 the company was known by the title of the Akron Iron and Steel Company, with a large part of its capital stock held in the East. Stress of competition overwhelmed it, and finally its business was wound up, and the plant sold to the railroad companies. The old site is now a part of the Akron yards of the Erie railroad. In September, 1886, the Selle Gear Company was incorporated with a capital stock of $100,000. George W. Crouse was its presi- 154 - HISTORY OF SUMMIT COUNTY dent; F. M. Atterholt, vice-president, and W. C. Parsons, secretary and treasurer. A large factory was built on Chestnut Street, corner of High, and the company began the manufacture of the Selle patented platform gear for wagons. In 1906 it became the Akron-Selle Company, with M. Otis Hower as president and general manager; H. Y. Hower, vice-president; H. A. Paul, secretary, and E. R. Held, treasurer. Under the able management of M. Otis Hower, a very large business is being built up, and there are good reasons for believing that, in a very short time, this concern will be one of the largest maufacturing institutions of the city. The Akron Belting Company was incorporated in 1885 by George W. Crouse, Alfred M. Barber and Sumner Nash. Its first plant was on North Main Street, where the Grand Opera House is now located. They are making a very superior quality of leather belting of all sizes. Upon the vacation of the Allen Mills on Canal Street, this company moved into them and has continued to do business at that stand since. The present officers are: A. B. Rhinehart, president; Sumner Nash, vice-president; George Wince, secretary and treasurer, and Webster Thorpe, superintendent. MISCELLANEOUS. In 1872 Thomas Phillips and Company commenced the manufacture of paper on the Ohio Canal at West Exchange Street. Their business consisted of making paper bags, flour sacks, wrapping paper, etc., and a very large business has been built up. In 1887 The Thomas ,Phillips Company was incorporated with a capital stock of $150,000. G. W. Crouse was its president and Clarence Howland, secretary and general manager. The present officers are F. D. Howland, president; F. A. Seiberling, vice-president; G. D. Howland,-secretary, and F. A. Howland, treasurer and general manager. In 1885 the Akron Twine and Cordage Company was organized by the directors of the Aultman, Miller Company. G. W. Crouse was its president ; Ira M. Miller, vice-president, and R. H. Wright, secretary and treasurer. A large factory was built on Hill Street just east of the railroads. Rope and cordage of all kinds was manufactured. A specialty was made of binder twine. When hard times fell upon the Buckeye Mower and Reaper Works, the Twine and Cordage Company became involved in the trouble and for a long time they did not run. But at the present time they are being operated under the direction of the International Harvester Company, which purchased the assets of the Aultman, Miller Company. In 1878 Edward George Kubler and John Martin Beck founded what has been known as the Akron Varnish Works. They are manufacturers of varnishes, Japans and other similar products. They commenced in a humble way in a small building on Bowery Street, and afterwards built a large brick factory on West State Street, where they still are engaged in the same business. In 1882 David L. King organized the King Varnish Company, and built a large, six-story brick factory on Canal Street, just north of Market. The business proved unprofitable and an assignment was made. In 1889 David R. Paige bought the business, associating John H. McCrum with him. Upon the destruction of the factory by fie, the company was merged with the Kubler and Beck Company, under the name of the Akron Varnish Company. The officers are: E. G. Kubler, president ; J. M. Beck, vice-president and treasurer; E. M. Beck, secretary; F. W. Whitler, assistant treasurer ; F. A. Fauver, superintendent. In 1870 John W. Baker and John C. McMillen established the Baker-McMillen Company and commenced the manufacture of enameled knobs, handles, etc. In July, 1890, the Baker-McMillen Company was incorporated with a capital of $120,000, and a very large business was built up. The present officers are: H. B. Sperry, president and treasurer; W. H. Stoner, secretary and general manager. The first planing mill was established in Akron in 1832 by Smith Burton in Middlebury. In 1836 James Bangs started a shingle AND REPRESENTATIVE CITIZENS - 155 mill near the corner of Main and Federal Streets. Samuel G. Wilson bought him out, and a few years later established a shingle mill and lumber yard on Main Street, just south of Howard. A few years later Mr. Wilson took in Justus Rockwell and they bought out the lumber yard of W. B. Storer, which had been established on North Main Street. Mr. Samuel G. Wilson was thus the pioneer lumber dealer of Akron. In 1865 he interested himself with William B. Doyle, Samuel Pam= and John H. Dix, and they organized the firm of W. B. Doyle and Company. In 1867 Hon. John Johnson bought the in-toast of Mr. Wilson. In 1873 Mr. Johnson retired and the business was conducted by the other parties, until the death of Mr. Dix in 1886, and the retirement of Mr. Farnum in 1888, when the business was carried on by Mr. Doyle. Upon his death, August 6, 1890, this pioneer company ceased to exist. In 1845 David Miller established a. sash, door and blind factory, which was purchased by D. G: Wilcox in 1866. In 1864 he formed a partnership with Samuel B. Weary, Jacob Snyder and Andrew Jackson, under the firm name of Weary, Snyder and Company. In 1867 the company was incorporated and continued to do business until the destruction of the plant by fire about five years ago. In 1863 George Thomas established the Thomas Building and Lumber Company, with works on the west side of the canal, between Bank and Cherry Streets. In 1877 David W. Thomas succeeded to the business. In 1888 he organized the corporation with a capital stock of $100,000. The new company also took possession of the lumber business theretofore conducted by William Buchtel. In 1867 the business of Solon N. Wilson was established, and he is now doing a successful business in lumber and contracting. The Hankey Lumber Company was established in 1873 by Simon Hankey. The Enterprise Manufacturing Company is one of Akron's most successful manufacturing establishments. It was founded in 1881 by Ernest F. Pflueger, and was incorporated in 1886 for the purpose of making fishing supplies, etc. It has grown from the start, until it now occupies the great factory of Ash Street. The present officers are: G. A. Pflueger, president; G. E. Pflueger, vice-president and superintendent; E. A. Pflueger, secretary and treasurer, and H. A. West, assist= ant secretary and treasurer. The Western Linoleum. Company was incorporated January 1, 1891, with a capital of $200,000. A. M. Cole was its first president; W. E. Hoover, secretary and treasurer, and Charles Templeton, general. superintendent. They are now a part of the Standard Table Oil Cloth Company. E. A. Oviatt is the local superintendent. The Globe Sign and Poster Company began business as the Globe Sign Company, and was incorporated in 1890. John Grether, S. S. Miller, Frank Reefsnyder, W. B. Gamble and H. G. Bender were its first organizers. RUBBER INDUSTRY. The B. F. Goodrich Company. Akron is best known today as the world's center for the rubber manufacturing industry. It is the chief of all our industries. It has more capital invested, more hands employed, larger factories, and a larger value of output than any other line of manufacture in the city. Most of this growth has taken place in the last twelve years; all of it since 1870. The origin of rubber-working in Akron goes back to the advent of Dr. B. F. Goodrich in our midst. The date is 1870. He was the original rubber man of Akron, and without him there probably would have been no rubber industry here. In 1870 Dr. B. F. Goodrich came from the East and associated himself with Colonel George T. Perkins, George W. Crouse and others of this city, and started what was then known as B. F. Goodrich and Company—the Akron Rubber Works. The business slowly grew and prospered until in 1880 a co-partner-ship was formed and the business incorporated under the name of The B. F. Goodrich Company, with a capitalization of $100,000. The growth of the company was continuous from that time on and the capital was in- 156 - HISTORY OF SUMMIT COUNTY creased from time to time as the demands of the business required, until at present the capitalization of the company is $10,000,000. Dr. Goodrich remained president of the company until 1888, the time of his death, when Colonel George T. Perkins succeeded him, holding the position until January 15, 1907. The present officers are: B. G. Work, president; F. H. Mason, vice-president ; H. E. Raymond, second vice-president; C. B. Raymond, secretary; W. A. Folger, treasurer ; W. A. Means, assistant treasurer ; E. C. Shaw, general manager of works; C. C. Goodrich, general superintendent, and H. E. Joy, assistant general superintendent. The directors are Colonel George T. Perkins, F. H. Mason, B. G. Work, H. E. Raymond, E. C. Shaw, George. W. Crouse and C. C. Goodrich. The product of the company consists of a full line of soft rubber goods, such a. belting. hose, packings, druggists' sundry goods, golf balls, tennis balls, automobile and bicycle tires, carriage tires, molded goods, mats, boots and shoes. The factory buildings cover an area of sixteen and one-half acres of floor space on fifteen and one-half acres of ground, and the buildings are lighted by over 8,000 incandescent lamps and one hundred arc lights. The power plant has a generating capacity of 3,500 K. W., and a boiler capacity of 6,600 H. P., 4,500 II. P. of motors being used to drive the machinery throughout the plant. The company has 3,300 people in its employ. Diamond Rubber Company. In 1898 the Diamond Rubber Company was unknown outside of a limited circle of trade. With a capitalization of $50,000, it was manufacturing it modest line of mechanical rubber goods and tires—then, as now, in competition with concerns powerful in productive and brain capacity. And at that time, too, the majority of competing companies were rich with the prestige which long established business relations give. Still the Diamond Rubber Company grew. The present capitalization of the concern is $5,000,000, but the real extent of its growth and the rapid increase of its strength are better shown by other comparisons. Two hun dred and fifty was the number of the company's employes in 1898. Twenty-seven hundred and twenty 'is the number in 1907, with the quota of brains per capita also increased. Crude rubber was brought by cases of 500 pounds each by this company seven years ago. Now single purchases amount to as much as 200 tons. For four years the mill rooms of the Diamond Rubber Company have been in operation night and day the year around. Their equipment in 1898 included seven mills and two calenders. Today, with twenty-seven mills and seven calenders, it is only by keeping every wheel constantly turning that stocks can be made ready fast enough. An engine capacity of 250 horse-power, which was sufficient seven years ago, has steadily increased until today the capacity is 2,050 horse-power and every ounce of pressure utilized. If every day for ten years, Sundays included, the factories of the Diamond Rubber Company had expanded 95 square feet, the total would still fall short of equaling the extensions in new buildings and additions the company has erected within that time. And the ground area used is now eighteen acres, as compared with less than six acres in 1898. Seven years ago the Diamond Rubber Company had no branch establishments; they were not necessary. Today the company has its own branches in twelve principal cities, with three stores in New York and two in' Chicago, besides exclusive agencies in many other business centers. Hose holds a conspicuous place in the products of the company, and is a department having several extensive sub-divisions. Air-brake hose is the most prominent in the line of its products for the railroad trade. From a small beginning their production of air-brake hose, made to Master Car Builder' Recommended Practice, or their own, or other specifications, has grown to an average of nearly 2,000 pieces per day, made with such care and precision that the percentage of rejected goods has ceased to be a factor—a remarkable achievement. The steam hose problem is another whose AND REPRESENTATIVE CITIZENS - 157 solution, in a manner distinctly gratifying, not only to the company, but to the trade, contributed directly to the growth of the company. And, furthermore, the mastery of the art of making steam hose was in itself the overcoming of the long-vexing car-heating hose problem as well. Both are now a notable part of their daily output, with an increase in these and allied lines, such as signal hose, corrugated tender hose, etc., steadily indicated from month to month. Another division of the hose department which has similarly expanded is that devoted to water hose, tank hose and kindred kinds. Hose for fire protection is a subject so important that they regularly divide it into three classifications—rubber fire hose, cotton jacket rubber-lined fire hose, and cotton jacket rubber-lined mill hose. There is not a day in the year—Sundays always excepted—that their own looms are not roaring with industry in the weaving of fire and mill hose jackets from their own tested yarn. Their sales of garden hose, by the way, where formerly measured yearly by the thousands of feet, are now computed by the millions. Belting constitutes a large department in the Diamond factories, and in seven years the output has doubled and doubled again, one of the various additions erected within that period having been expressly to provide greater space and facilities for the belt department. Six hand presses used to keep up with the demand for moulded goods made by the company. Today ten times six and all hydraulic presses are necessary. Hard rubber has been a part of the Diamond Rubber Company's product for only a few years, but today the department would make by itself a factory of creditable size. The output is confined largely to battery jars, sheets, rods and tubing, re-insulating tape, etc. Tires—last, but by no means least. Diamond detachable clincher tires for automobiles are the equipment on a very large percentage of all motor cars used in this country. Diamond solid side wire motor truck tires and Diamond solid and cushion tires for lighter commercial vehicles and carriages are scarce- ly less well known. The annual business of this company in its tire department mounts well into the millions of dollars and has made necessary the erection of one of the largest structures on earth devoted to rubber tire manufacturing. The Goodyear Tire and Rubber Company. Frank A. Seiberling purchased the Woolen and Felt Company plant in June, 1898, and immediately thereafter caused to be organized The Goodyear Tire & Rubber Company, with an authorized capital of $200,000, $90,000 paid in, the officers being David E. Hill, president; George Hill, vice president; H. B. Manton, treasurer; Charles W. Seiberling, secretary ; F. A. Seiberling, general manager. The above, with. Byron W. Robinson and L. C. Mills constituted the first board of directors. The work of installation of machinery and equipping the plant was immediately undertaken and vigorously prosecute so that by December, 1898, the mill was put in operation. The business was a success from the start, the company readily securing sufficient orders to keep them operating to their full capacity. The following year Mr. R. C. Penfield acquired the interests of the Hills, becoming president of the company. One hundred thousand dollars of new capital was put into the business at that time, which, with a stock dividend declared out of profits, made the paid-up capital $200,000. The business steadily increased under the impulse of additional capital, so that in 1902 the authorized capital was increased to one million dollars, $500,000 of which was paid up, partly in cash and partly in stock dividends. Each year extensive additions were made to the, plant until its capacity today is fully four times greater than when first started, and the company is handling a business more than five times greater in volume. Its present officers are: F. A. Seiberling, president and general manager; L. C. Miles, vice-president; George M. Stadelman, secretary; Charles W. Seiberling, treasurer. The history of the company has been one of steady progress, and is marked by an im- 158 - HISTORY OF SUMMIT COUNTY portant patent litigation that affected the entire carriage tire industry of the United States. The Goodyear Company was .operating under a patent owned by it for the manufacture of a certain type of solid carriage tire, which the owners of the Grant patent claimed was an infringement upon their rights. Up to the time that the Goodyear Company entered their field the Grant patent had had a complete monopoly of the rubber tire industry of the United States. In a bitter contest involving a large expenditure on both sides, extending over a period of two years' time, the United States Court of Appeals decided the Grant patent invalid, opening the market in this country to anyone who desired to make rubber tires of their type. As a result, twenty-five manufacturers in this country are now making the Grant type of tire, though The Goodyear Tire & Rubber Company is probably making more solid rubber carriage tires than any other one concern in the United States, turning out as much as six tons per day in the height of the season. They are also large manufacturers of pneumatic bicycle and automobile tires, and withinthe past two years have brought out a quick detachable tire upon their Universal rim, which promises to revolutionize the method of attaching and detaching tires in this country. As a result of their initiative, all of the leading concerns are working and are bringing out devices for accomplishing the same ends. They now employ over a million dollars of capital, and 800 men, with a volume of business approximating $3,000,000 annually. PRINTING AND PUBLISHING. The Werner Company, book manufacturers, lithographers, general printers and engravers, publishers of the new Werner edition of the Encyclopedia Britannica. Paul E. Werner started in the printing business as publisher of the Akron Germania in 1875 on the third floor of the building on Howard Street, adjoining the southeast corner of Howard and Market Streets, then owned by E. Steinbacher. In 1877 he removed his business to the second floor of the Kramer building, also on Howard Street. In 1879 he occupied a frame building on Howard Street, which stood where the Arcade building now stands, and added the publication of the Sunday Gazette. In 1881 he removed to the southeast corner of Howard and Mill Streets and added to his business the publication of the Daily and Weekly Tribune. In 1883 he removed his business to a three-story frame building specially fitted up for him, which stood where the large mill of the American Cereal Company now stands on Howard Street. In 1885 James Christy erected a four-story brick buffing especially for him on Howard Street, directly south of the big mill. By that time the commercial printing part of the business had grown to larger dimensions. Paul E. Werner realized that the field in the newspaper business in a town of the size of Akron was very limited, and disposed of his newspapers. About 100 people were employed in that building. Very soon these quarters were too small for the continually growling business. In 1887 the Werner Printing and Lithographing Company was organized, larger capital was procured, and a large tract of land, located at the corner of Perkins and Union Streets (the present location of the company's factory) was then purchased for the purpose of erecting buildings specially designed and equipped for the manufacturing of books on a large scale, and of printed, lithographed and engraved articles in general. The business continued to grow very rapidly and new buildings were added every year for a number of years, until at the present time the Werner Company occupies the following buildings: Three buildings each 300 feet long, forty ,feet wide; three buildings each 200 Meet long, fifty feet wide ; three buildings each 100 feet long, fifty feet wide; one building, seventy-five feet long, thirty feet wide ; one building, eighty feet long, forty feet wide, and a number of other small buildings, all equipped with the most modern machinery required for the manufacturing of books and other printed, lithographed and en- AND REPRESENTATIVE CITIZENS - 161 graved products. The capital invested in and required in the conduct of the business of The Werner Company is very, large and amounts to over $3,000,000. In 1907 the officers of this company are as follows: P. E. Werner, president and general manager; R. M. Werner, vice-president and assistant treasurer; C. I. Bruner, treasurer; Karl Kendig, secretary; H. M. Huddles-ton, assistant secretary; Edward P. Werner, general superintendent. The Werner Company is by far the largest and most complete book factory on the American continent. It comprises under one roof, so to speak, and under one management, all the graphic arts and trades. It furnishes directly and indirectly material means of livelihood for four or five thousand Akron inhabitants. The great majority of the employees of the Werner Company are skilled in trades and arts and receive high compensation. During the year 1906 the works of The Werner Company were in uninterrupted operation, and a great part of the time worked thirteen hours daily. During that year this company purchased and received raw materials and shipped finished products representing the full capacity of one thousand two hundred railroad cars. The products included more than 3,000,000 large books ; more than 15,000,000 large and finely illustrated catalogues made for the largest manufacturing concerns of this country, and millions of other printed, lithographed and engraved articles. If the books alone which were manufactured by The Werner Company last year were laid on a pile, one on the top of the other, this pile would reach ninety-six miles into the air. If these books were laid side by side they would constitute a line 500 miles long. The raw materials consumed during the past year comprise 3,500 different kinds. The largest consumption is in paper, cloth, leather, gold and ink. If the paper consumed during the past year were laid in sheets side by side, they would reach around the world four times. The binders' cloth consumed measured 5,000,000 square feet. The different kinds of leather consumed required the skins of 25,000 cattle, 30,000 sheep and 36,000 Persian and Morocco goats. Over 3,000,000 leaves of gold were consumed. While the principle product of this factory is books, The Werner Company has a world-wide reputation for furnishing fine commercial work, typographic as well as lithographic, catalogues of every description. Of this particular kind of product it makes more than any other concern in the United States. WHITMAN AND BARNES MANUFACTURING COMPANY. The Whitman & Barnes Manufacturing Company, manufacturers of mowing and reaping machine knives, sickles, sections and parts of cutting apparatus, "Diamond" twist drills, reamers and collateral lines, wood handle and drop forged wrenches, lawn mowers, haying tools, such as hay carriers, forks, pulleys, etc., spring keys and cotters, rubber pad horse-shoes, hammers, planer knives and cutters for wood-working machinery. In 1848 the predecessors and founders of the present corporation, The Whitman & Barnes Manufacturing Company, commenced in a very small way to make knives and sickles for mowing and reaping machines. They were the first in this country to engage in the manufacture of these parts. From the small beginning in 1848 this firm has advanced and increased until now it has three factories—one at Akron, Ohio, occupied exclusively in the manufacture of Diamond twist drills and collateral lines; one at Chicago, Ill., at which factory they manufacture knives and sections, wrenches, lawn mowers, hay tools, spring keys and cotters, and rubber-pad horse shoes ; one at St. Catharines, Ontario, where they manufacture knives and sections, hammers,. haying tools, planer knives and 'cutters for wood-working machinery. Their factories are equipped with the most modern machinery, and they employ a very large number of skilled mechanics, which enables them to produce goods equal to any upon the market, and at a price which allows them to compete successfully in 162 - HISTORY OF SUMMIT COUNTY the trade. Their brands are extensively known, not only in this country, but in all foreign countries, and their trademark, "Diamond W. & B.," is a trade name the world over and a guarantee of the quality of the goods manufactured. In the past two years they have materially changed their manner and way of handling their business with the trade, abolishing their branch-house system for the purpose of allying themselves directly with the jobbing trade. This change meets with the hearty approval of the jobbers over the country, and they are fast associating themselves with this company in handling their large line of products. The Akron factory is managed by George A. Barnes, who has been long associated with the company. The Chicago factory is managed by W. H. Eager. The St. Catharines factory is managed by W. W. Cox, who has been for many years an officer of the company, and who stands very high, not only in the States, but in Canada. A. D. Armitage, who also has been connected with this company for many years, is general manager of manufacture. The officers of the company are: C. E. Sheldon, president; W. W. Cox, vice-president; Frank H. Hiscock, second vice-president; Wm. Stone, treasurer; C. E. Caskey, assistant treasurer; James Barnes, secretary ; W. H. Gifford, chairman ; Frank Hiscock, general counsel. The directors are C. E. Sheldon, George T. Perkins, George C. Kohler, C. I. Bruner, George A. Barnes, all of Akron, Ohio ; Frank H. Hiscock, William Stone, W. H. Gifford, Syracuse, New York ; W. W. Cox, St. Catharines. Milton Otis Hower was born in Doylestown, Wayne County, Ohio, November 25, 1859, and is a son of John H. and Susan Yongker Hower. He attended school in Doylestown and was subsequently a pupil in the Akron public schools and at Buchtel College. He began his business career as secretary of The Hower Company, proprietors of the Akron Oatmeal Mills. These mills were afterward consolidated with the American Cereal Company, of which Mr. Hower became director, vice-president and chairman of the Executive Committee. In 1894 he removed to Chicago, where the general office of the American Cereal Company is located, but after remaining there six years, he returned to Akron. He is president of The Akron-Selle Company, The Lombard-Replogle Engineering Company, Akron Wood-Working Company, Akron Hi-Potential Porcelain Company, Sandusky Grille and Manufacturing Company, Jahant Heating Company, The Bannock Coal Company, Hower Power-Building Company; vice-president of The Central Savings and Trust Company ; director of the Akron Home Building and Loan Association, and director of the Akron Canal and Hydraulic Company. Mr. Hower was married November 16, 1880, to Blanche Eugenia Bruot, daughter of James F. and Rosalie Bruot. They have two children, Grace Susan Rosalie Hower (now Mrs. Paul E. Findlay) and John Bruot Hower. The family residence is at No. 60 Fir Street. INCORPORATED COMPANIES. The Abstract, Title-Guarantee & Trust Company, 124 South Main; incorporated, 1892; capital, $30,000. The Actual Business College Company, 616 Hamilton Building; incorporated, 1905; capital, $10,000. The Akron Belting Company, 74 South Canal; incorporated, 1895; capital, $100,000. The Akron Brewing Company, 865 South High; incorporated, 1903; capital, $125,000. The Akron Building & Loan Association, 130 South Main ; organized, 1888; capital, $5,000,000. The Carriage and Implement Company, 6771 West Market; incorporated, 1904; capital, $25,000. The Akron China Company, corner of Second Avenue and Baltimore & Ohio Railroad; incorporated, 1894; capital, $150,000. The Akron Clay Company, 1010 East Market; incorporated, 1904. The Akron Coal Company, 26 Central Office Building; incorporated, 1891; capital, $100,000. AND REPRESENTATIVE CITIZENS - 163 The Akron Cultivator Company, 214 North Union; incorporated, 1889; capital, $1,000,000. The Akron Democrat Company, 92 East Mill; incorporated, 1892; capital, $25,000. Akron Electrical Manufacturing Company, Ira Avenue; incorporated, 1891; capital, $500,000. The Akron Excelsior Laundry Company, 62 South High; incorporated, 1903; capital, $35,000. The Akron Extract and Chemical Company, 184 South Main ; incorporated, 1903; capital, $35,000. The Akron Fertilizer Company, office 516519 Everett Building; incorporated, 1900; capital, $25,000. Akron Fire Brick Company, 1057 Bank; incorporated, 1882; capital, $50,000. The Akron Fireproof Construction Company, 285 Park; incorporated, 1901; capital, $40,000. The Akron Foundry Company, 526 Wash-n; incorporated, 1894; capital, $25,000. The Akron Gas Company, 59 East Market; incorporated (III.), 1891; capital, $400,000. The Akron Germania Company, 124 South Howard; established 1869; incorporated, 1889; capital, $25,000. The Akron Glass and Machinery Company, 12 East Market; incorporated, 1901; capital, $50,000. The Akron Grocery Company, 117 East Mill; incorporated, 1889; capital, $100,000. The Akron Laundry Company, 77 South High; incorporated, 1900; capital, $30,000. The Akron Machine Company, 1069 Bank ; incorporated, 1891; capital, $100,000. The Akron Manufacturing Company, 929 South High; incorporated, 1898 and 1905; capital, $50,000. The Akron Odd Fellows Temple Company, 80 South Main ; incorporated, 1895; capital, $40,000. Akron Oil Company, Arcade Block ; incorporated (W. Va.), 1899; capital, $20,000. The Akron People's Telephone Company, 232 Hamilton Building; incorporated, 1899; capital, $500,000. The Akron Press Publishing Company, foot of Mill; incorporated, 1900; capital, $10, 000. The Akron Printing and Paper Company, 128-132 South Howard; incorporated, 1904; capital, $60,000. The Akron Provision Company, 135 South Main ; incorporated, 1903; capital, $25,000. The Akron Pure Milk Company, 265 Bowery ; incorporated, 1903; capital, $10,000. The Akron Realty Company, 1120 South Main; incorporated, 1900; capital, $150,000. The Akron Roofing Company, 10 East Ex- change; incorporated, 1905; capital, $5,000. The Akron Roofing Tile Company, 754 Brook ; incorporated, 1902; capital, $105,000. The Akron Rubber Company, Rubber Street; incorporated, 1890; capital, $10,000. The Akron Rubber Shoe Company, Rubber Street; incorporated, 1905. The Akron-Selle Company, 455 South High; incorporated, 1903; capital, $100,000. The Akron Sewer Pipe Company, 999 East Market; established 1848; capital, $300,000. The Akron Skating Rink Company, 268 East Market; incorporated, 1905; capital, $18,000. The Akron Soap Company, Cuyahoga, Street Extension ; incorporated, 1904; capital, $50,000. The Akron Tent and Awning Company, 163 South Main ; incorporated, 1891; capital, $25,000. The Akron Varnish Company, 254 South Main ; incorporated, 1897; capital, $250,000. The Akron Wall Plaster Company, 994 and 996 East Market; incorporated, 1901; capital, $50,000. The Akron Water Works Company, corner Howard and Cherry ; organized 1880; capital, $50,000. The Aladdin Rubber Company, 39 Arcade Block ; incorporated, 1905; capital, $100,000. The Alkali Rubber Company, 115 Jackson ; incorporated, 1904; capital, $10,000,000. The Aluminum Flake Company, 428 Hamilton Building; incorporated (Maine) 1903; capital, $500,000. The American Scrap Iron Company, 10 164 - HISTORY OF SUMMIT COUNTY West Buchtel Avenue; incorporated, 1904; capital, $50,000. The Angelo Andrew Paint and Varnish Company, 182 South Main; incorporated, 1901; capital, $10,000. The Arcturus Lithia Springs Company, 130 South Main; incorporated, 1904; capital, $15,000. The Atlantic Foundry Company, 62 Cherry; incorporated, 1905; capital, $10,000. The Automatic Clutch Company, Ira Avenue; incorporated, 1905; capital, $120,000. The Baker-McMillen Company, 17 Bowery; incorporated, 1890; capital, $120,000. The Beacon Journal Company, 145 South Main; established 1839; capital, $80,000. The Biggs Boiler Works Company, 1007 Bank; incorporated, 1900; capital, $75,000 The Brewster Coal Company, 444 South Main; organized 1876; capital, $50,000. The Bruner-Goodhue-Cooke Company, 130 South Main ; incorporated, 1897 ; capital, $50,000. The Buckeye Chemical Company, Doyle Block ; established 1882 ; incorporated, 1901. The Buckeye Loan Company, 429 Dobson Building; incorporated, 1905; capital, $10,000. Buckeye Rubber Company, corner Cook end Third Avenue; incorporated, 1900; capital, $200,000. The Buckeye Sewer Pipe Company, 887 East Exchange; organized 1872; capital, $150,000. The Burger Iron Company, 42 East South; incorporated, 1896; capital, $25,000. The M. Burkhardt Brewing Company, 513 Grant; incorporated, 1902. The Burt Manufacturing Company, 47 Central Savings & Trust Building; incorporated, 1902; capital, $50,000. The L. W. Camp Company, 285 Park; incorporated, 1902; capital, $20,000. The Central Savings & Trust Company, 90 South Main; incorporated, 1904; capital and surplus, $200,000. The Chanute Cement & Clay Product Company, 1004 East Market; incorporated (Maine), 1904; capital, $4,500,000. Colonial Salt Company, Kenmore; incorporated (New Jersey), 1901; capital, $350,000. The Colonial Sign & Insulator Company, corner Grant and Morgan; incorporated, 1904; capital, $50,000. The Columbia Coal Company, 26 Central Office Building; incorporated, 1903; capital, $100,000. The Columbia Insulator Company, 1007 Bank; incorporated, 1902; capital, $25,000. The Commercial Printing Company, 4652 North Main; incorporated, 1899; capital, $150,000. The Crown Drilling Machine Company, 67 East Thornton; incorporated, 1904; capital, $150,000. The M. T. Cutter Company, 10 South Howard; incorporated, 1905. The Day Drug Company, 10 South Howard; incorporated, 1905; capital, $15,000. The Dentist Dental Rubber Company, 102 Hamilton Building; incorporated, 1906; capital, $100,000. The Diamond Rubber Company, Falor Street; established, 1894; incorporated, 1901; capital, $3,500,000. The Dickson Transfer Company, 24 North High; incorporated, 1892; capital, $100,000. The Dime Savings Bank Company, corner Howard and Mill; incorporated, 1890; capital, $50,000. The Dobson Building Company, 330 Dobson Building; incorporated, 1905. The Dollar Savings Bank Company, 12 East Market; incorporated, 1903; capital, $50,000. The Enterprise Manufacturing Company, 217 Ash; established, 1881; incorporated, 1886; capital, $50,000. The W. H. Evans Building and Loan Association, corner Howard and Mill; incorporated, 1891; capital, $1,000,000. The Ewing Concrete Machinery Company, 445 Ewing Court; incorporated, 1905; capital, $10,000. The Faultless Broom. and Manufacturing Company, 54 Cherry; incorporated, 1903; capital, $5,000. AND REPRESENTATIVE CITIZENS - 165 The Faultless Rubber Company, 281 Bluff; incorporated, 1900; capital, $325,000. The Fiebeger Heating Company, corner Lincoln and Forge; incorporated, 1904; capital, $50,000. Firestone Tire & Rubber Company, 1081 Sweitzer Avenue; incorporated, (West Virginia), 1900; capital, $500,000. The First National Bank, 16 South Main; organized, 1862; capital, $100,000. The Flanagan Mining Company, 27 Arcade Block; incorporated, (Washington) 1903; capital, $100,000. The George K. Foltz Company, 68 South Main; incorporated, 1897; capital, $10,000. The Frank Laubach & Clemmer Company, 80 South Main ; incorporated, 1892; capital, $30,000. The Frantz Body Manufacturing Company, corner Stanton Avenue and Getz; incorporated, 1898; capital, $60,000. The U. G. Frederick Lumber Company, 57 'Cherry; incorporated, 1904; capital, $25,000. The German-American Building & Loan Association, 148 South Howard; incorporated, 1896; capital, $1,000,000. The German American Company, 148 South Haword; incorporated, 1900; capital, $50,000. The Gintz Upholstering Company, 14 Viaduct; incorporated, 1897. The Globe Sign & Poster Company, 48 East Miller Avenue; incorporated, 1904; capital, $75,000. The Glock-Korach Company, 82 South Main; incorporated, 1905; capital, $10,000. The Goehring Manufacturing Company, 65 East Miller Avenue; incorporated, (West Virginia) 1899. The B. F. Goodrich Company Rubber Street; established, 1869; capital, $10,000,000. The Goodyear Tire & Rubber Company, 1144 East Market; incorporated, 1898; capital, $1,000,000. The Great Western Cereal Company, 1124 East Market; incorporated, 1901. The Hall-Harter Insurance Agency Company, 102 South Howard; capital, $50,000. The Hamilton Building Company, 244 Hamilton Building; incorporated, 1899; capital, $200,000. The Hankel Lumber Company, 570 South Main ; incorporated, 1889; capital, $100,000. The Hardware & Supply Company, 50-52 South Main : incorporated, 1905; capital, $150,000. The Harper Drug Company, 8 East Market; incorporated, 1903; capital, $25,000. The Hill Sewer Pipe Company, 999 East Market; organized, 1873; capital, $150,000. The Home Building & Loan Association, 102 South Howard; incorporated, 1891; capital, $10,000,000. The Hoover & Sell Company, 16 East Market; incorporated, 1905; capital, $25,000. The Hower Building Company, corner Market and Canal; incorporated, 1905; capital, $1,000,000. The Kasch Roofing Company, 188 South Main; incorporated, 1896; capital, $10,000. The Keller Brick Company, Cuyahoga Falls Road; incorporated, 1900; capital, $25,000. The Kile Manufacturing Company, 1136 Sweitzer Avenue; incorporated, 1903. The Kirk Company, 25-27 South Howard; incorporated, 1902; capital, $50,000. The Klages Coal & Ice Company, 165 East Mill; established, 1879; incorporated, 1888; capital, $100,000. The Kraus-Kirn Company, 117 South Main ; incorporated, 1903; capital, $25,000_ The C. J. Lang Clothing Company, 18 East Market; incorporated, 1905; capital, $10,000: The Limbert-Smith Plumbing Company, 40 East Mill; incorporated, 1904; capital, $10,000. The Lodi Oil & Refining Company, 474 Washington ; incorporated, (West Virginia) 1902; capital, $350,000. The Long & Taylor Company, corner Main and Howard; incorporated, 1903; capital, $10,000. The Long & Taylor Candy Company, 22 South Main; incorporated, 1902; capital, $50,000. 166 - HISTORY OF SUMMIT COUNTY The Loomis-Moss Coal Company, 26 Central Office Building; incorporated, 1898; capital, $100,000. The Lyman Lumber Company, 440 South Main; incorporated, 1897; capital, $10,000. The McIntosh-Baum Company, 148 South Howard; incorporated, 1900; capital, $10,000 The McNeil Boiler Company, 96 East Crosier; incorporated, (West Virginia) 1902; capital, $250,000. The Magnolia Coal Company, 444 South Main; incorporated, 1899; capital, $60,000. The Miller Rubber Company, corner High and Stanton Avenues; incorporated, 1904; capital, $25,000. The Miller Rubber Manufacturing Company, corner High and Stanton Avenues; incorporated, 1898; capital, $50,000. Motz Clincher Tire and Rubber Company, Everett Building, incorporated, 1905; capital, $50,000. The I. S. Myers Company, 24 South Main ; incorporated, 1904; capital, $55,000. The M. & M. Manufacturing Company, 502 South Main; incorporated, 1905; capital, $12,000. The National Blank Book and Supply Company, 132 South Howard; incorporated, 1904; capital, $12,000. The National City Bank, 8 South Howard; incorporated, 1903; capital, $100,000. The National Coal Company, 612 Hamilton Building; incorporated, 1892; capital, $300,000. The National Water Wheel Governor Company, 303 Everett Building; incorporated, 1904; capital, $10,000. Niagara Fire Extinguisher Company, 430438 Hamilton Building. The Northern Ohio Traction and Light Company, 206 Hamilton Building; incorporated, 1899; capital, $7,500,000. The Ohio Stoneware Company, 227 Fountain; organized, 1881; capital, $50.000. The M. O'Neil & Company, 38-48 South Main; established, 1877; incorporated, 1892; capital, $200,000. The Ornamental Iron Work Company, 80 East South; incorporated, 1906; capital, $10,000. The Peerless Stamp & Stencil Company, corner Howard and Market; incorporated, 1906; capital, $10,000. The People Publishing Company, 37 South Main ; incorporated, 1903; capital, $5,000. The People's Savings Bank, 337 South Main; incorporated, 1890; capital, $100,000. The Permanent Savings and Loan Company, 124 South Main; incorporated, 1894; capital, $300,000. The Thomas Phillips Company, 23 West Exchange; incorporated, 1887; capital, $300,000. The Pouchot-Hunsicker Company, 200 South Main ; incorporated, 1903; capital, $30,000. The Prudential Heating Company, 526 Washington ; incorporated, 1904. Realty Development Company, 392 Albert Place; incorporated, 1903; capital, $20,000. The Renner & Deibel Oil & Gas Company, 275 North Forge; incorporated, 1904; capital, $20,000. The Geo. J. Renner Brewing Company, 275 North Forge; incorporated, 1900; capital, $60,000. The G. J. Renner Property Company, 275 North Forge; incorporated, 1904; capital, $20,000. The Robinson Clay Product Company, 1010 East Market; established, 1856; incorporated, (Maine) 1902; capital, $2,000,000. The Safety Gas Burner Company, rear 103 Kent; incorporated, 1904; capital, $10,000. The S. & O. Engraving Company, 330 South High; incorporated, 1903; capital, $25,000. The Second National Bank, 35 East Market; organized, 1863; capital, $350,000. The Security Savings Bank Company, 328 South Main; incorporated, 1901; capital, $50,000. The South Akron Banking Company, 1092 South Main; incorporated, 1906; capital, $50,000. The Standard Rubber Company, 1144 AND REPRESENTATIVE CITIZENS - 167 East Market; incorporated, 1901; capital, $50,000. The Star Drilling Machine Company, 474 Washington; incorporated, 1889; capital, $200,000. The Star Mop Wringer Company, 930 South Howard; incorporated, 1906; capital, $10,000. The Star Planing Mill Company, 55 Cherry; incorporated, 1903; capital, $25,000. Stein Double Cushion Tire Company, corner River and Second Avenues; incorporated, 1905; capital, $100,000. The Summit China Company, 1037 Bank; incorporated, 1879; capital, $100,000. The Summit Lumber & Building Company, 44 West State; incorporated, 1897; capital, $15,000. The Summit Sewer Pipe Company, 887 East Exchange; incorporated, 1889; capital, $150,000. The Summit Real Estate Company, 148 South Howard; incorporated, 1903; capital, $24,000. The Sumner Company, 23 East Exchange; incorporated, 1903; capital, $10,000. The Swinehart Clincher Tire & Rubber Company, 218 North Howard; incorporated, 1904; capital, $200,000. Tanner & Company, 10 East Market; incorporated, 1903; capital, $20,000. Taplin, Rice &. Company, 177 South Broadway; organized 1866; capital, $150,000. The XXth Century Heating & Ventilating Company, 192 South Main; incorporated, 1901; capital, $100,000. The Tyler Company, 990 East Market; incorporated, 1904; capital, $50,000. The U. S. Stoneware Company, Annadale Street; incorporated, 1885,; capital, $25,000. The Union Printing Ink Company, 38 West State; incorporated, 1901; capital, $10,- 000. The Union Rubber Company, 123 South Howard; incorporated, 1901. The Unique Theater Company, 115 South Main; incorporated, 1905; capital, $10,000. The Upham-Brouse Company, corner Market and Main; incorporated, 1896; capital, $100,000. The Werner Company, 109 North Union; incorporated, 1903; capital, $1,300,000. The West Hill Land Company, 236 Hamilton Building; incorporated, 1902; capital, $75,000. The Whitman & Barnes Manufacturing Company, 114 East Buchtel Avenue; organ-_ ized 1864; capital, $2,372,500. The Williams Electric Machine Company, corner Grant and Morgan; incorporated, 1904; capital, $100,000. The Williams Foundry and Machine Company, 56 Cherry; established, 1885; incorporated, 1901; capital, $50,000. The Windsor Brick Company, 1011 Grant; incorporated, 1904; capital, $40,000. The Wise Furnace Company, 508 Hamilton Building; incorporated, 1904; capital, $50,000. CHAPTER X BANKS AND BANKING History of the Banks of Summit County—Banks Inadequate—Akron's Financial Reputation--Akron a Large Borrower—Panic of 1904—Clearing House Statement— Future Prosperity Certain. BY JOS. S. BENNER. BANKS. In 1845, when Akron was a town of probably 1,500 inhabitants, the Bank of Akron, a branch of the Ohio Safety Fund system, was organized with a capital of $50,000. This was Akron's pioneer bank and proved a very great convenience to the business men of the surrounding community. It survived until 1857, when it went into liquidation, having become involved in the financial embarrassments of the Akron Branch Railroad. In 1855 George D. Bates, with Gen. Philo Chamberlain as a silent partner, opened a private bank on the west side of Howard Street near the present site of B. L. Dodge's furniture store, afterwards purchasing the old Bank of Akron's stand on the opposite side of the street, and where under the name of Bates & Co. the business was continued until 1863, when it was merged into the Second National Bank. In 1863 the First National Bank, with a capital of $100,000, was organized with T. W. Cornell as president, M. W. Henry, vice president, and W. H. Huntington, cashier. In 1867 the City Bank, a private institution owned by J. B. Woods, Milton Moore and Sylvester H. Thompson, was started, and this was organized in 1883 into the City National Bank. In 1870 the Bank of Akron, with George T. Perkins as president, Alden Gage as cashier, was started, which in 1888 was merged with the Second National Bank, taking that name, with a capital of $275,000, and a surplus of $22,000, and using the rooms of the Bank of Akron in the Academy of Music building, its present site. In 1872 the Citizens' Savings and Loan Association was organized, which in the panic of 1893 had to close its doors, but which was soon after reorganized into the Citizens' National Bank, which continued until 1903, when it was merged with the Second National Bank. In 1888 the Akron Savings Bank was started; in 1890 the People's Savings Bank Company; in 1897 the Central Savings Bank Company; in 1900 the Akron Trust Company, and the Guardian Savings Bank Company; in 1901 the Dime Savings Bank Company, and the Security Savings Bank Company, and in 1902 the Dollar Savings Bank Company. January 1, 1905, the Central Savings and Trust Company started business, it being a consolidation of the Akron Trust 'Company HISTORY OF SUMMIT COUNTY - 169 and the Central Savings Bank Company, which latter bank had some months before acquired the business of the Guardian Savings Bank Company, which went into liquidation. The new bank purchased the building of the Akron Savings Bank, which failed in April, 1904, and refitted and remodeled it into its present shape. In 1905 was started the South Akron Banking Company and in 1907 the Depositors' Savings Bank Company, the former locating in the extreme southern part of Akron, near the street car barns, and the latter purchasing the building and fixtures of the Security Savings Bank Company, which in April, 1907, was merged with the People's Savings Bank Company, across the street. In 1903 Akron boasted of twelve banks, with capitals of $1,225,000 and deposits of $7,300,000. Now, through two consolidations, two absorption and one failure, there are but nine, with a total capitalization of $950,000, and total deposits of $8,200,000, a reduction of capital of $275,000, with an increase of nearly $1,000,000 in deposits. Despite the sensitive feeling still rankling in the minds of many, Akron people really have cause to be proud of the record of her banks. In the sixty years of her banking history there has been but one failure, and that wholly through mismanagement. We have read from time to time of bank embezzlements, of defalcations and rascalities of officers, but Akron has had none of that and can say that the men who have been entrusted with the care of the wealth and savings of her people are, and have been at all times, faithful and honest. The mistakes that have been made were made through lack. of good judgment and incapacity only. It is indeed a remarkable fact, taking into consideration the length of time over half a century—the weakness and culpability of man, and the numerous panics through which they have passed, that the experience which we in 1904 went through is the sole and only one to which history can point. BANKS INADEQUATE. Akron's banks, however, with all their $9,- 000,000 and more of resources, are far from capable of taking care of the financial needs of its manufacturing and mercantile industries. In fact we would warrant the assertion that 80 per cent of the money required by the large concerns of Akron is furnished by outside banks. To the stranger to our local conditions and to the unthinking, such a statement seems absurd, but it is true, we believe. A simple explanation of this is as follows: The largest amount that any Akron bank can legally loan to any one concern is 10 per cent of its capital stock, which means the Second National Bank can loan $35,000, the First National Bank, $20,000 ; the National City and the Central Savings and Trust Company, $10,000, and the others only $5,000. This being the case and very few of these concerns doing business at more than one bank in the city, they are compelled by necessity to go outside, especially when at certain periods of the year some of them borrow individually from $100,000 to $1,000,000. This very apparent disproportion of the banking capital of Akron to the amount of business transacted through these same banks is well illustrated by the totals of its bank clearings as compared with those of Youngstown, Canton and Springfield, its sister cities, and their relative banking capitals.