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Establishment of Banks

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[Source: "History of Calhoun County and its people up to the year 1910"]
by: Carpenter, George Wilbur

THE First Banks

The first Calhoun bank to be established was the Bank of Calhoun County at Hardin. This bank was chartered as a private bank on December 19, 1898, and is was opened for business on February 22, 1899. Elmer E. Williams was the cashier and is still serving in that capacity. Aloys Bullier and Wm. Fisher have served as assistant cashiers. M. A. Kamp of Kampsville served as the first President of the Bank of Calhoun County, and he was succeeded by Stephen McDonald of Hardin. F. A. Whiteside of Carrollton is serving as President at the present time.

From 1899 to 1907, the bank at Hardin was the only one in the county, but in the next year private banks were established in three other communities. E. E. Williams, the Cashier of the Bank of Calhoun County, was chosen to serve as manager of these three newly established banks. The following men were chosen to serve as Cashiers of these banks: Kampsville, William Suhling; Batchtown, J. F. Tribble;and Brussels, Paul Zigrang.

The Kampsville Bank was reorganized December 20, 1920. Charles Sutter was elected President, E. E. Williams, Vice-President, William Suhling appointed Cashier, and Harry Waldheuser as assistant cashier. When the Batchtown Bank was reorganized and made a State Bank, E. E. Williams was elect President, and J. F. Tribble was retained as Cashier, with William Zigrang as assistant Cashier. E. E. Williams was also elected President of the Brussels Bank and retained as Manager. Paul Zigrang was retained as Cashier and George Gebben as assistant Cashier.

The Bank of Hamburg was organized May 21, 1907, and the charter is dated October 2, 1907. The first officers of the bank were: J. G. Kinder, President; B. H. Williams, Vice-President; Frank Dirksmeyer, Secretary; and Spencer Waldron, Cashier.

The Hamburg Bank opened for business on October 7, 1907, and closed January 28, 1932. The reason for closing was that the bank was carrying the farmers and apple growers, and the severe hail storm of July 23, 1931 ruined the crop to such an extent that the bank could not collect the notes.

Spencer Waldron served the bank as its Cashier from the date of organization, and Eay De Long served as the assistant Cashier for eleven years.

When the bank closed it had $108,000 on deposit, and loans that totaled $216,000.

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