The Broken Arrow Ledger
Broken Arrow, Indian Territory. (Tulsa Co, OK)
Vol 4 No 12
July 12, 1906 (Part 12)
Abstracted / Transcribed byLinda Haas Davenport
This issue is a special promotional issue, promoting the town of Broken Arrow. The photos are very dark. I don't know it if is possible to clean them up enough to post them in the Photo Gallery.
Page 7, Column 3
THE FIRST NATIONAL BANK.In a new And growing Country nothing is more essential than good and adequate banking facilities. In this respect Broken Arrow is especially fortunate. Standing as a factor of prime importance in the business activities of this growing young city, the First National Bank is conspicuous. Beginning its business career as the Traders & Planters Bank, in December, 1902, just after the location of the townsite, It soon became favorably known. This bank came rapidly to the front as one of the main factors in aiding development of town and country until February 23, 1904, on which date it became nationalized under the style of the First National Bank of Broken Arrow.
Its nationalization not only lends to it a prestige and standing in advance of what it might have otherwise had, but it guarantees to depositors and stockholders government supervision.
One of the secrets of the growth of this bank is to be found in the fact that several members of the board of directors are old bankers of ripe and wide experience. The officers are President, John Lonnberg, of Meriden, Kan.; Vice-President. W. T. Brooks; Cashier, F. S. Hurd; Assistant Cashier, G, B. Chenoweth. President Lonnberg is a well-known railway contractor, whose labors for years have helped shape the destiny of the Union Pacific Railway.
Cashier F. S. Hurd is originally of Jefferson county, Kansas, and came to the Territory in November, 1902, locating here with a view to entering into the banking business. As an official of the Traders & Planters Bank Mr. Hurd soon became well and favorably known throughout this section, and as cashier of the First National has contributed no little to its growth and popularity by reason of his energy, sagacity and fidelity.
Of Vice-President Brooks, a banker of large experience, full personal mention is made elsewhere in these columns.
Assistant Cashier G. B. Chenoweth is originally from Lathrop, Mo. He is an experienced and skilful accountant and was in this capacity connected successively with the Wagoner National Bank and the First National at that town. Mr Chenoweth is one of the highly esteemed young men of the place.
Mr. A. M. Laws, the bookkeeper, is from West Tennessee, and has been serving the bank most satisfactorily in this capacity for more than a year and a half. An accountant of unusual ability and accuracy, his labors and individuality of character lend much to the successful operations of the bank.
An indication of the splendid growth of the First National, showing also incidentally the growth of the town, is found in the significant fact that the deposits on November 11., 1905, aggregated $100,415.05.
On the same date the surplus and undivided profits amounted to $11,415.05 - a showing that is not only gratifying to the stockholders, but an additional source of confidence to the more than 400 depositors of this most excellent house.
The directors of the First National are, in addition to the president and the cashier, the following gentlemen of means, character and high standing: N. L. Sanders, W. T. Brooks. S. M. Allen, G. W. Law, Jas. Laws.
C. S. TURLEY & CO. This prominent and reliable firm of real estate men is rapidly becoming more and more popular as time passes.
The firm is composed of C. S. Turley and P. A. Fox and has been in business about a year here. The junior member of the firm has been a resident of the town but little more than a year, coming here from Stillwater, Oklahoma, while Mr. Turley has resided in the territory about twenty years and is acquainted with all the roads and trails and cow paths in this vicinity. The firm makes a business of real estate, loans and collections, and always have on their books a considerable list of farm lands and town property for sale and exchange. They maintain a large correspondence list throughout the different states and each mail brings to their office inquiries concerning Indian Territory in general and Broken Arrow and vicinity in particular, and they take particular pride in contributing their mite toward the betterment and upbuilding of their adopted home.
Page 7, Column 3
<Spanning columns 4 & 5 - Photo: Residence of Roley Jay Moore>
RUTH & WHITENACK.In all agricultural communities the demand for farm implements is governed by the amount of land in cultivation. Recognizing that the demand for agricultural implements must necessarily increase rapidly as the large scope of fertile prairie lands would soon be occupied by farmers, W. H. Ruth chose Broken Arrow as a good location for an implement house. As he was one of the very first business men in the town and has been continuously in the business ever since, he is the pioneer implement man of the town.
Associated with Mr. Ruth at this time is Charles Whitenack and the firm name is Ruth & Whitenack. As evidence of their success, we will state that they are now nearing completion a handsome two-story brick home for their business, and it is with sincere regret that we are unable to give a view of this handsome structure because it is not yet completed.
Ruth & Whitenack carry a complete stock of all kinds of farm implements, vehicles, harness, saddles and all other goods to be found in an up-to-date implement house anywhere. Theirs is the largest implement house now in the city, and they are two of the most obliging gentlemen now engaged in any line of business here.
ST. LOUIS RACKET STORE. The St. Louis Racket Store is the oldest institution of its kind in Broken Arrow. Pierce & Rouser, the proprietors of this popular institution, opened up for business in he spring of 1903 and have been continuously in business ever since. One of the very best evidences that they are doing a good business is the fact that they are constantly enlarging their stock in all desirable lines and adding new lines as demands seem to justify.
WEAR COAL CO. In addition to the large area of rich agricultural lands lying on all sides of Broken Arrow there is another source of wealth which, in itself, is doing and will continue to do much to attract people to our vicinity. This is the almost inexhaustible deposit of bituminous coal of a superior quality which underlies much of the surface of the earth at a very shallow depth. But little more than two miles east of Broken Arrow the Wear Coal Company of Kansas City is opening extensive banks. A spur has been constructed from the Katy railroad to the banks and already the average shipments of coal from these banks by this company amounts to about nine cars daily, although the banks have been in operation but little more than a year. During November, 1905, $3,000 was paid in wages to coal miners. The management of this important enterprise is in the hands of J. H. Calvin, an experienced man at the business. The company sells coal at the banks for $2 per ton and haulers deliver it in bins in town for the very nominal sum of $3 per ton. As the coal lies so near the surface the mining is done by "stripping" the earth off from the vein of coal with plows and scrapers in very much the same manner as roads are worked, or railroad grades are built. The vein averages about thirty inches in thickness, is a free burning grade, and free from clinkers.
THE LEADER. H. Peller is the proprietor of this popular business establishment and is doing a very satisfactory business. In the Leader will be found at all times a large stock of dry goods, clothing. head and footwear and such other articles as are common to institutions of this character.
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