History of Milwaukee, city and county . , hurried swift riders to Chicago, so that Smithexpressed specie by both land and lake, while Mitchell paid up all comers I illbanking hours were over, and then had his cashier, David Ferguson, keep onpaying till bed-time. Even at this crisis money came in as well as went out. People laughedat their own fright when they learned that Smiths bank had been (dosed onno week day but Thanksgiving. The raid blew over leaving nine-tenths ofthe certificates outstanding. Nothing heightened his prestige more thanthese cyclones, which proved him to be invincible. Mi
History of Milwaukee, city and county . , hurried swift riders to Chicago, so that Smithexpressed specie by both land and lake, while Mitchell paid up all comers I illbanking hours were over, and then had his cashier, David Ferguson, keep onpaying till bed-time. Even at this crisis money came in as well as went out. People laughedat their own fright when they learned that Smiths bank had been (dosed onno week day but Thanksgiving. The raid blew over leaving nine-tenths ofthe certificates outstanding. Nothing heightened his prestige more thanthese cyclones, which proved him to be invincible. Milwaukee Banks.—Although the First Wisconsin National Bank is nowonly a little more than two years old, in tracing its history we must go backto the Farmers and Millers Bank, which was chartered in 1853 with a capitalof $50,000. E. D. Holton was the president and II. II. Camp was the cashier. In 1863 when the National Bank Law went into effect, the First NationalHank was formed. It was a reorganization of Die Farmers and Millers THE MARSHALL & HANK BANKING AND FINANCE 351 On April 4, 1870, the Home Savings Bank was opened for business. Thisremained in existence for only a few months, for on October 27, 1870, itmerged with the private banking firm of Moritz von Baumbach & Company,thus forming the German Exchange Bank. In August, 1879, the GermanExchange Bank merged with the Bank of Commerce which had been organizedin June, 1870. The new bank took the name of Merchants Exchange bank was absorbed by the First National on January 1, 1894. In the60s, the Houghton Brothers and Samuel McCord organized the private bankof Houghton, McCord & Company. In 1875 the name was changed to HoughtonBrothers & Company, while in 1893 the Houghton Bank was reorganized asthe Central National, with George G. Houghton as president and Herman as cashier. The Central National was consolidated with the Wisconsin National in1898. The latter had been organized with $1,000,0
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