The German-American Bank

ARTS, WAHL

Posted By: david reineke (email)
Date: 12/6/2004 at 00:47:04

I translated the following article from Der Carroll Demokrat, a German-language newspaper published in Carroll, Iowa, between about 1874 and 1920. It was originally published in a special 25th Anniversary Edition of the paper on Friday, 20 September 1899. I have not changed the place or name spellings. Information in brackets and notes at the end are my own explanations. It reads as follows:

The German-American Bank

This reliable financial institution opened on 1 February 1898 with an outstanding capital of $50,000.

It wonderful success, exceeding all expectations, in light of the existence of two established similar institutions, can be explained as a result of the public’s trust in its strength and the honesty and business sense of its officials.

Mr. William Arts, the well-known financier and capitalist, founder of the German Bank of Carroll County, which he managed for seven years as president, is the founder and president of the German-American Bank. He is one of the pioneers of this area, since he arrived here in the early 1870’s, in Wheatland Township he acquired the “Arts Section,” now adjoining the later-founded town of Breda, and over the years managed a number of grain and mercantile businesses. His well-known, straight-forward manner earned him such reputation for integrity among his fellow citizens that he was urged to run for the office of county treasurer, whereupon he was elected by a large margin, despite the fact that his opponent had the political majority on his side, and in this position his well-known integrity has distinguished him as a friend of the taxpayers. The teller, Mr. W. A. Arts, son of the above-named gentleman, from youth onward has stood loyally at his father’s side in business matters. He was the assistant cashier of the German Bank of Carroll County for 10 years, where the customers soon learned “Billy’s” friendly and courteous management and honest business dealings, which was publicly acknowledged when he was twice elected as city treasurer, and still holds the position today. W. H. Wahl, the assistant teller, acquired experience in his nine years’ service as abstractor and general assistant in the money-lending business of former Judge Paine, which has qualified him for his new position and is a great advantage to the business.

The German-American Bank conducts a general banking business, makes loans on real estate collateral, makes out money transfers to Europe, administers estates, and gives to all entrusted affairs the most exacting attention.

NOTES: William Arts has very interesting biographies in the 1887 and 1912 Carroll County histories. He was born near Galena, Illinois in 1840. At age 19, he went to California in search of gold and eventually made a rich strike in Idaho. He traveled extensively, and had many exciting adventures, before coming to Carroll County. According to the 1912 history, he came to Wheatland Township in 1869 and purchased an entire section of land. In 1887, he was one of the owners of Der Carroll Demokrat and later helped start the Carroll Times. He was also a leading organizer of Saints Peter and Paul Catholic Church. He died in 1910.