EXCHANGE BANK, Walnut Iowa, the only bank in this thriving town, was established in 1875 by E.R. and C.R. HINKLEY as a private banking establishment, and it was purchased by the present owner, J.H. HENRY, November 1, 1880, it then having a capital of $35,000 and doing a general banking business. The bank now has a capital and surplus of over $200,000, which is the largest in this county, and one of the largest in Western, Iowa.

The Exchange Bank has always been a very conservative institution and since it has been owned by Mr. Henry, the charge to the loss account has been so small as not to be worth mentioning. The businessmen of Walnut and surround farmers may well feel confidence in this stable institution. This bank is equipped with the best modern appliances against fire and burglars, having one of Hall's safes and time locks on a burglarproof chest. And further secured by a fireproof vault. This makes it one of the safest institutions in the county.

JAMES H. HENRY, president of this institution, was born at Sturgis, Michigan in 1845. He received a good education and was one of those men who, when the great civil war broke out, did not shrink from the call of duty, but enlisted and served through all that great struggle, which will make his name remembered by his descendants for generations to come. After the war Mr. Henry engaged in the lumber trade at Blairstown, Iowa, and did a successful business.

He married in 1871, Miss Emma Edson, and they are the parents of four children: William, Angelina (deceased February 13, 1887, at the age of nine years and eleven months), Bessie and Joe E.

In 1875 Mr. Henry came to Walnut and engaged in the grain and lumber trade and did a good business until 1875, when he went to Chicago and built a large elevator and carried on extensive grain operations, in connection with his brother William C., under the firm name of Henry Brothers. In November 1880, he sold out his business and came to Walnut, and bought the Exchange Bank of Walnut, the history of which is given above.

January 1, 1888, Mr. Henry, with the view of educating his children and for the benefit of the climate, went to California and settled at San Jose, where he rested from his labors for two years. Turning there his attention to public improvements, he purchased the old horse-car line and franchise on the famous Alameda, and established an electric railway system, the first in the State of California, which is a complete success. During the past winter he bought the principal street railway in the city of Sacramento, and changed the system from mule propulsion to electric, being the second successful electric
Road in the Golden State. Mr. Henry is an able financier, a man of wide business experiences, perfect integrity and broad views. He is a man who commands the respect of all who know him and is an American citizen whose word is valued as highly as his bond. His reputation as an honorable businessman is unsullied and extends as far as mercantile records are used.

Socially he is a Mason, being a member of San Jose Lodge, No. 10. His liberality of sentiment is shown by the fact that he has always been in favor of public liberty, and a stanch supporter of that great party whose watchword is the greatest liberty to the greatest number, namely, a Democrat. He is a member of the G.A.R. He is a man of wealth, his property being estimated at about $500,000. He is an extensive owner of real estate, owning over 5,000 acres of fine farming land near Walnut, which is valued at $200,000, and his electric railroads more than $100,000 more, besides which he owns other property and a fine residence in San Jose, California.

JOHN P. BURKE, who connection with this bank dates from November 1, 1880, the time that Mr. Henry purchased it, was born at Durant, Cedar County, Iowa, March 17, 1862. His father, P.E. Burke, was born in Tipperary County, Ireland. In 1846, at an early age, he sailed for America and settled at Staten Island, New York, where he married Miss Mary Murphy, and soon after they removed to Pottsville, Pennsylvania. They were the parents of eight children, namely: William F., James T., Mary, John P., Charles M. Edward D., Lizzie M. and Katie. (James T., Mary and Katie are now deceased.) In 1856 P.E. Burke, with his family, moved to Iowa and settled at Durant where he lived until 1876 when he moved to Shelby County, Iowa, bought a large farm and remained there until 1884. He then sold his personal property, rented his farm, came to Walnut, purchased a fine residence, and is now retired from active pursuits, taking the world easy.

When Mr. Henry purchased the bank in November 1880, he was very fortunate in securing the services of John P. Burke as bookkeeper. Mr. Burke was then teaching school in Pottawattamie County and though but eighteen years of age his ability was such that in one year he was made cashier of this bank. He became so well informed in business generally that in January 1888, when Mr. Henry saw fit to remove with his family to California, he left Mr. Burke in charge of all his affairs, giving him sole charge and management of over 5,000 acres of improved land adjoining Walnut. Mr. Burke has conducted all this business in a manner highly satisfactory to all persons interested, and has shown his ability to handle financial matters to such a degree that Mr. Henry's confidence in him is well deserved. For over ten year Mr. Burke has been in active business here, and has most assuredly won the high opinion of the patrons of the bank for his unassuming integrity, accommodating disposition, genial and pleasant manners and liberal methods of dealing. He has been Treasurer of the city for over four years, and treasurer of the independent school district over eight years. Mr. Burke is now but twenty-eight years of age, has made an early success in life, and has had a practical experience, which should make his future one of continued prosperity.

February 8, 1887, he was united in marriage with Miss Lulu G. Kepford, daughter of David Kepford and Anna (Colwell) Kepford of Havana, Illinos. Mr. and Mrs. Burke are the parents of one child, a daughter named Grace L., who was born August 9, 1888.

ED D.BURKE, assistant cashier and bookkeeper of the above bank was born at Durant, Iowa, November 25, 1864. He has been with the bank for over three years, is a young man of energy and integrity.

Contributed by: Darlene Vergamini