THE CHEROKEE STATE BANK - 1914

HUXFORD, DICKEY, HALL, HERRICK, GROVES, CORBETT, RISLEY, WHITMORE, NICHOLSON, STANOSHECK, DAY, BURCH, GLOVER, LULL, RICHARDSON, BRUMMER, KENNEDY, GROVES, SCHUSTER, STILES, WERTHEIM, WHITMORE

Posted By: Volunteer
Date: 7/8/2009 at 17:09:46

HISTORY OF
Cherokee County
IOWA
VOLUME II
ILLUSTRATED
CHICAGO
THE S. J. CLARKE PUBLISHING COMPANY
1914
by Thomas McCulla

THE CHEROKEE STATE BANK.

Banking institutions are the heart of a commercial body, indicating the health- fulness of trade, and no other agency does as much to maintain public stability in times of widespread financial panic as the bank which follows a safe, conservative yet progressive course. Such has been the record of the Cherokee State Bank, which owes its organization and successful management in large part to E. D. Huxford, who since 1906 has been its president. This bank was. organized October 2, 1888, with J. P. Dickey as president, J. C. Hall, vice president, and Mr. Huxford as cashier and active manager. The original directors with date of service are as follows: J. P. Dickey, 18881894; E. C. Herrick, 18881913; J. C. Hall, 1888-1906, whose death occurred on the 17th of April of the latter year; E. D. Huxford, 1906-1913; J. H. Groves, 1893-1910; Carlton Corbett, 1897-1910; J. A. Risley, 18971903, his death occurring on the 22d of October of the latter year; F. E. Whitmore, 18881898, dying on the 30th of January of the latter year; Charles Nicholson, 19101913; F. J. Stanosheck, 19061913; and W. H. Day, of Dubuque, Iowa, 1888-1897. The bank was capitalized on its organization for twentyfive thousand dollars and the original stockholders were: J. P. Dickey, J. C. Hall, E. C. Herrick, E. D. Huxford and F. E. Whitmore, of Cherokee; and W. H. Day, George B. Burch, John B. Glover, Henry B. Glover, Dr. John H. Lull and Mrs. Ann Richardson, of Dubuque.

The year following its organization the capital of the bank was increased to fifty thousand dollars and the following year to seventyfive thousand dollars, indicating an immediate and rapid growth of the business. The organizers of the bank were J. P. Dickey, J. C. Hall, E. C. Herrick and E. D. Huxford, all of Cherokee, and there was no change in the officers until 1893, when J. P. Dickey retired from the presidency and J. C. Hall, previously vice president, succeeded to the presidency, while J. H. Groves became vice president and so continues. Mr. Huxford remained as cashier from the organization of the bank until 1906, when following the death of Mr. Hall, on the 17th of April, 1906, he was chosen to the presidency of the bank, George Brummer becoming his successor in the position of cashier, in which he still continues. He had been assistant cashier in 1905, succeeding in that office George A. Kennedy, who had served from 1899 to 1905. The present stockholders are: George Brummer, Carlton Corbett, J. H. Groves, Lucy A. Hall, Marion A. Herrick, Ernest C. Herrick, E. D. Huxford, Charles Nicholson, Lizzie M. Risley, Henry J. Schuster, Frank J. Stanosheck, C. A. Stiles, Isaac Wertheim and Emma E. Whitmore.

One of the indications of the substantial condition of the bank is the fact that many of its first depositors are still its patrons. The bank has ever maintained the highest reputation for the integrity and enterprise of its methods and for its progressiveness, tempered by a safe conservatism. A general banking business has been conducted and the policy maintained by the officers has ever .been one above question. The bank has ever maintained a helpful attitude itoward projects for the public good and all that tends to the advancement of city and county.