History of Atchison County, Kansas

by Sheffield Ingalls

In February, 1914, Webster Wirt Hetherington was appointed cashier, and Edgar Mattocks was elected assistant cashier, and George L. Wolfe, teller.

While the bank is known far and wide throughout the State of Kansas for its conservatism, yet it makes an effort to accommodate all business institutions in the city of Atchison entitled to assistance and credit. It aims to be a distinctive Atchison institution.

Luther C. Challiss appeared as a banker in the city directory of 1859 and 1861, operating his bank at the corner of Second and Commercial streets, but not much is known of this institution.

First National Bank was organized on the first day of October, 1866, by David Auld, with the following as the first board of directors: David Auld, Henry Kuhn, H. H. Moulton, George Scarborough, C. G. Foster, D. C. Newcomb, and J. M. Linley. David Auld was elected president, George Scarborough, vice-president, and W. R. Stebbins as cashier. For thirty-eight years this bank was under the careful and conservative management of David Auld, who died in October, 1904, and was succeeded by his son, David Auld, Jr. The bank began business in July, 1867, and since that time has been one of the strongest financial institutions in the West. It has always had the benefit of the services of experienced men in the banking business, and has followed a conservative policy during the whole of its existence. In 1910 the controlling interest in the First National Bank was purchased by the Commercial State Bank, which was organized in Atchison in 1906 by Sheffield Ingalls and O. A. Simmons. In the merger that took place the Commercial State Bank was absorbed by the First National Bank, and has continued under the latter name to maintain its high standard of conservatism, and with the introduction of new blood and new methods, it embarked upon a policy of service which has redounded to the lasting benefit of the community. The present officials of this institution are as follows: Edward Perdue, president; J. H. Barry, chairman of the board; O. A. Simmons, first vice-president and manager; J. M. Schott, second vice-president; Charles Linley, cashier; George H. Edwards, assistant cashier; F. J. Ledoux, assistant cashier.

The directors represent varied business interests of this city and county, and are as follows: Edward Perdue, J. H. Barry, O. A. Simmons, Charles Linley, J. M. Schott, C. C. McCarthy, August Manglesdorf, Leo Nusbaum, Sheffield Ingalls, A. E. Mize, M. Noll and W. T. Hutson.

The Atchison Savings Bank claims the distinction of being “The Oldest State Bank in Kansas,” having enjoyed a continuous corporate existence of over forty-six years.

R. A. Park was its organizer and first cashier, and in June, 1869, it opened its doors for business in a brick one-story building at the northwest corner of Fifth and Commercial streets. At that time most of the business was centered close to the river, and this was considered quite an “up town” location, but time has vindicated the judgment of its early director in anticipating the westward growth of the town. With the expectation of building thereon the bank early acquired title to the lot at the southwest corner of Fifth and Commercial streets, but subsequently disposed of it to the late Ex-Governor John A. Martin, who built the Champion building thereon, and the bank moved to its present quarters, which it had acquired, and still owns, at the southeast corner of Fifth and Commercial.

William C. Smith (father of Henry T. Smith) was the first president but the late Judge A. G. Otis soon thereafter succeeded him and remained president until 1891.

Thomas Murphy (father of John Murphy and one of the builders of the present Cain Mill Company mill), W. W. Guthrie, Julius Kuhn, C. J. Drury, Col. Wm. Osborn, J. W. Parker, and other men prominent in the business and social life of that period were among its early stockholders and directors, while for seventeen years the late T. C. Platt served as teller, and by his affability and faculty of remembering people, made many friends for the institution. A baseball bat, kept under the counter, was his weapon for defending the funds in his care. Courtney Challiss, George H. Lawton, “Vode” Kathrens, Lowenholt, O. Orlopp and Will H. Bryning and others also served varying terms as early employees and will be remembered for their distinctive personalities. An apothecary’s scale for weighing gold dust was part of the early equipment, but one trial was sufficient to prove the presence of too much dust and too little gold in the commodity offered. For almost twenty years the bank ran with but few restrictions from the State, the law simply requiring it to file an annual statement of its capital, surplus, etc., with list of stockholders and officers, and publish a statement of its financial condition as of some one day in the year. Needless to say the day selected was usually one on which the deposits, loans and resources would make a satisfactory showing, but about 1890 the legislature enacted a banking law, which has since been several times perfected by amendments, which brought this and all other State banks under its provisions, and the supervision of a State bank commissioner, with cast iron restrictions as to the relative amounts of loans, cash reserves, etc., and although some of the requirements seemed unduly severe to those accustomed to the former unrestrained exercise of their own individual judgment, few would now deny that it was wise and much needed legislation.

Following the retirement from the bank in 1891 of Judge Otis, Col. William Osborn became president, serving until his death, when R. A. Park succeeded to the office and served until his death in 1902. C. J. Drury being elected his successor and giving the institution his services for about a year, seconded by J. T. Hersey as vice-president, but both these gentlemen then retired upon the acquisition of a majority of the stock by Messrs. T. M. Walker, J. C. Fox and F. M. Baker. Of later years the growth of the bank has been marked, the capital and surplus having repeatedly been enlarged, and deposits and loans having shown a corresponding increase. The late Theodore Bartholow added his ripe experience as a successful banker to the board of directors, while F. G. Crowell, Joseph W. Allen, William Carlisle, with Messrs. Walker, Baker and Fox and others as stockholders and directors gave the institution a State-wide prominence.