Fifty Years In The Northwest / With An Introduction And Appendix Containing Reminiscences, Incidents And Notes

by William H. C. Folsom

Minnesota House, built by Elam Greeley, southwest corner Main and Myrtle, 1846.

Lake House, built by John W. Brewster, east side of Main street between Nelson and Chestnut, 1849.

Of the hotels built subsequently to 1850, the most popular and well known is the Sawyer House, on the northwest corner of Chestnut and Third streets. It was built in 1857, by Henry Sawyer, opened by G. E. B. Whitcher, and kept in succession by J. and A. Lowell, Isaac Staples, A. Lowell and A. K. Doe. The other hotels built during this period were the Liberty House, by John N. Ahl, 1856; Farmers Home, 1867; Williams House, 1870; Wexio Hotel, 1870; the Keystone House, 1872; the Mansion House, 1872; Central House, 1879; Elliott's Hotel, 1883.

CITY BANKS.

To Christopher Carli is due the honor of conducting the first banking operations in Stillwater. In 1855 he issued and redeemed fractional currency. Darling, Caswell & Scheffer, Jan. 27, 1857, opened a private banking house, and from 1859 to 1865 operated it as a state bank, when it was changed into the

FIRST NATIONAL BANK

of Stillwater. The capital stock was $50,000. The first officers were: Charles Scheffer, president; O. R. Ellis, cashier. The officers in 1886 were: Louis Hospes, president; C. N. Nelson, vice president; F. M. Prince, cashier. The capital stock is $250,000. The gross amount of debits and credits during the year closing June 3, 1886, were $20,000,000. We append the annual report of 1886:

RESOURCES.
Loans and discounts		$727,286 70
Overdrafts		1,745 82
United States bonds to secure circulation		50,000 00
Due from approved reserve agents	$30,999 72
Due from other national banks	4,266 85
Due from state banks and bankers	3,491 48	38,758 05
Real estate, furniture and fixtures		12,000 00
Current expenses and taxes paid		11,108 56
Premiums paid		9,000 00
Checks and other cash items	1,662 91
Bills of other banks	1,295 00
Fractional paper currency, nickels and pennies	77 07
Specie	33,392 00
Legal tender notes	17,440 00	53,866 98
Redemption fund with United States treasurer (five per cent of circulation)	2,250 00
		—————
Total		$906,016 11
LIABILITIES.
Capital stock paid in		$250,000 00
Surplus fund		60,000 00
Undivided profits		25,617 60
National bank notes outstanding		45,000 00
Dividends unpaid		20 00
Individual deposits subject to check	$236,095 72
Demand certificates of deposit	6,305 93
Time certificates of deposit	224,223 41
Cashier's checks outstanding	679 95
Due to other national banks	3,507 67
Due to state banks and bankers	5,266 78	476,079 46
Notes and bills rediscounted		49,299 05
		—————
Total		$906,016 11

LUMBERMAN'S NATIONAL BANK,

Organized Jan. 10, 1871. Capital stock, $150,000. First officers: Isaac Staples, president; H. W. Cannon, cashier. In 1886 the bank had in capital stock $250,000 and a surplus of $50,000. The present officers are: President, Isaac Staples; vice president, R. F. Hersey; board of directors, Isaac Staples, R. F. Hersey, E. S. Edgerton, David Tozer, E. W. Durant, David Bronson, J. McKusick, Matt Clark, Wm. G. Bronson, E. L. Hersey, R. S. Davis.