CHAPTER XXI.
GROVE TOWNSHIP.
A HISTORY-MAKING YEAR.
The year 1869 was one "big with events" for Atlantic, marking as it did the birth of its banking, newspaper, school, church and society interests.
The initial attempt to supply Atlantic with banking facilities was fruitful of considerable suffering and humiliation to private depositors and the business community. In the year named, Messrs. Loring & Bennett established a large and remunerative private bank, and also became men of influence in the community. But in December, 1870, they left Atlantic and carried the funds of their bank with them. It is supposed they went to South America. The Cass County Bank had already been organized as a private concern, and in 1871 Frank H. Whitney & Co. opened the institution which soon after became the First National Bank of Atlantic. Thus originated the banking system of Atlantic, which acheived its present stability and prosperity only after many trials and tribulations, as is the usual experience of new and rapidly expanding communities.
In the history of Lewis has been noted the birth of the "Cass County Gazette," in 1861 shortly before the outbreak of the Civil War; also how Frank H. Whitney, who had owned it for a few months, in 1864 sold it to H. C. Johnson, an old printer who had worked in the office and who changed the name of his paper to the "Messenger." Mr. Johnson received a liberal patronage, and continued to issue the paper in Lewis until March, 1869, when (it being certain that the county seat would be removed) he transferred his office to Atlantic. The first paper under the new heading, "Atlantic Messenger," was issued in the middle of April, 1869. It made its appearance as a seven-column folio, although Mr. Johnson had to cut down the width of the column one "em" in order to get the form on the press, which was too narrow for that size of paper.
In 1869 four churches were organized in Atlantic--the Methodist Episcopal, Congregational, Presbyterian and Baptist. The details of their founding and growth, as well as sketches of the other religious bodies established at a later day, will be given hereafter. It was also in November of this eventful year, 1869, that the first lodge was organized in Atlantic--Pymosa No. 271, A. F. & A. M.--with William Waddell as Worthy Master.
In this all-important year the county seat was removed from Lewis to Atlantic, and several months previous the first school had been opened for the benefit of the children of the new settlers. In the winter and spring of 1869, while Atlantic was under the jurisdiction of the school directors of Pymosa township, a school was opened in a little frame building at the corner of Sixth and Chestnut streets, and taught by one H. G. Smith. In the fall of the same year Fannie Whittane started a private school in town, and in November of that year Belle Tiffany (now Mrs. C. B. Osborne) opened another private establishment on Walnut street. A little later Mary Dickerson (Mrs. Bean) established a third school on Walnut street. In the spring of 1870 the Misses Dickerson and Whittane, and D. W. Scribner, who had also entered the educational field, combined forces and opened a united school in rooms over the old "Farmers' Home," corner of Fourth and Walnut streets. In January of this year (1870) the voters of the recently created town of Atlantic decided in favor of an Independent School District, and from that time the interests of education were entrusted to the teachers of the public schools.
CASS COUNTY BANK FAILURE.
In 1870, while Loring & Bennett were at the height of their short-lived financial career, the Cass County Bank was organized by John Keyes, Frank H. Whitney, Isaac Dickerson and J. C. Yetzer as a private institution. It was thus operated until May 1, 1876, when (Messrs. Whitney and Dickerson having withdrawn) it was organized as a State bank, with J. C. Yetzer as president and William Waddell as cashier. Mr. Waddell continued as a cashier until 1879, when he was succeeded by John P. Gerberich, and he, by A. W. Dickerson. The failure of the bank, in 1893, was one of the most disastrous in the financial history of the State, nearly $500,000 of actual deposits being unaccounted for, much of which was lost by the cashier in board of trade speculations. For wrecking the bank and accepting deposits after the institution was known to be insolvent, President Yetzer and Cashier Dickerson both served sentences in the penitentiary at Fort Madison. T. G. Steinke was appointed receiver of the wrecked bank and wound up its affairs, but the final loss to depositors was almost total.
"Compendium and History of Cass County, Iowa." Chicago: Henry and Taylor & Co., 1906, pg. 230-231.Transcribed by Cheryl Siebrass, July, 2018.
