Merchant’s National Bank

ebook History of Watertown, Wisconsin

Merchant’s Bank

Merchant’s National Bank

1855

01 04 A new Bank in Watertown -- Last Monday, Messrs Nehrig & Frentz, visited the city for the purpose of making arrangements for starting a new moneyed institution here, to be known as the “Merchants’ Bank.” We learn that for the present, the bank will transact business in the rooms previously occupied by the "Bank of Watertown."

Mr. Nehrig is now president of "Dodge County Bank," located at Beaver Dam, and will remain at that village in charge of that institution. Mr. Frentz will come here and assume the management of the new bank soon to be put in operation. Both these gentlemen are known as shrewd and careful businessmen, and we have every reason to believe their course here will give general satisfaction . . . WD

WHS_001_PC_084

1892

In 1892 Joseph Terbrueggen was one of the incorporators the Merchants National Bank and was its first president, and at the time of his death was chairman of the board of directors of the bank.

70th birthday anniversary of Joseph Terbrueggen

1900c 100 East Main, WHS_005_127

1902

01 17 At a cost of $375 a mechanical device is placed in the Merchants' Bank that accomplishes wonders in the way of adding figures. It registers, prints and adds figures from 1 cent to $9,999,999.99. It does perfect work in adding being always accurate, and saves much mental work for the bank employees. It is a wonderful little machine, and well worth the inspection of any one. WG

1905

05 10

The Merchants Bank is about to install a system of burglar alarms which is by far the most modern and perfect of its kind that has as yet been invented.

The bank vault is to be lined completely with a double steel lining which covers every inch of the vault - floor, walls, ceilings, vestibule and doors. Inside of the vault is an electric cabinet connected containing the storage batteries, switches, timers, etc., that control the system automatically.

On the First Street side of the bank building will be placed a large electrical gong enclosed in a double walled steel housing. Also over the vault doors in the banking room there are to be two more large gongs covered over by heavy steel shields. Inside the vault are still others.

Should burglars so much as touch the combination on the vault door, attempt to drill through the vault door or the vault at any point it would instantly set the entire system of gongs to ringing. When they once begin to ring it is impossible to stop them except from the inside of the vault. There are no wires whatever outside the vault that a burglar could get at.

Another very important feature is an arrangement whereby it makes it impossible for bank employees to forget to lock the vault doors at night. At nine o'clock every evening the system [secured]. If no attention is paid to the warning, then at nine o'clock the whole system of alarms begin to ring and will continue to ring until the vault is locked. After nine o'clock it is as impossible for the bankers themselves to enter the vault as it is for the burglars to do so.

1908

1908, 100 E Main, PC_034

1909

01 22 Officers chosen for the year WG

1910

11 18 Passed the Million Dollar Mark

The reports of the Bank of Watertown and Merchants' National Bank of Watertown show that in capital, surplus and deposits those two banks have now passed the million dollar mark, which speaks well for the business interests of Watertown. The Wisconsin National Bank's deposits, capital and surplus are over $610,000, and judging from its last report, that old and popular banking institution is also on a solid financial basis. WG

1911

09 14 Improvements

Several improvements are being made in the interior arrangement of the Merchants National Bank to accommodate its increasing business. The vault has been greatly enlarged and the time lock safe is now located in the interior of the vault. The latter is connected with the counting room by a new steel double combination door, weighing four tons. A room in the rear of the vault, with a street entrance, is now at the service of the bank patrons who have boxes at the bank. Into this room they may take their safety deposit boxes and look over their papers at their pleasure. Several other changes are being made which will add to the convenience and safety of the banks’ business. WG

1912c Night view PC_050

1929

$5 Bank Note

$10 Bank Note

1957

06 26

Arthur A. Ullrich, a teller at the Merchants National Bank, has retired. He completed his long service with the bank with the close of business last Friday night. His home is at 134 Corner Street. Mr. Ullrich has been with the bank since July 2, 1906, and would be completing an even 51 years of service with the institution tomorrow. Last year, on his 50th anniversary, bank officials and the staff tendered him a testimonial party at the home of the bank president, Col. J. W. Sproesser. Mr. Ullrich joined the bank shortly after graduating from the Watertown High School and remained there throughout his banking career. WDT

1960

01 12 Officers chosen for the year WDT

03 25 Drive-through window planned WDT

1961

03 17 City Attorney James A. Fitzpatrick who has been conferring with architects and representatives of the Merchants National Bank relative to plans for the bank's expansion by utilizing the property to the north of the banks' present building at Main and North First Streets, expects to make a report to members of the city council shortly regarding the expansion project. Last year the bank purchased the Minning property which houses the Minning Liquor Co. business in North First Street. This property includes the area which runs to the Elks Club building, including the three-car garage on the premises. The Minning Liquor Co. is to move to a new building and is to vacate its present quarters by July 1 when the bank expects to begin the remodeling improvements and expansion program. WDT

1961, Mining Liquor, demoltion of, WHS_006_009c

1962

01 21 Arthur A. Ullrich, 134 Corner Street, for many years a member of the Merchants National Bank staff, will be honored by Watertown Lodge on exalted rulers’ night which will be observed at the Elks Club on Feb. 14. Mr. Ullrich has been a member of the Elks for 50 years, and during that time has held different offices in the lodge and has been active in the organization. WDT

1962c, 100 E Main, City assessor form, WHS_006_009a

1962c, 100 E Main, City assessor image, WHS_006_009b

Cross References:

Merchants Bank	1944, 100 E Main
Merchants Bank	1961, 100 E Main, expansion, WHS_006_009c
Merchants Bank	Ferdinand Schmutzler, organizer, director
Merchants Bank	Omar Gaston, organizer and pres
Merchant's Bank	1975, 100 E Main, rear of bldg, drive-through, WHS_005_283
Merchant's Bank	1975, 100 E Main, WHS_005_275

Cross References:

Louis Cordes was a director for 20 years.

John Schempf, bank founder and director.

William Sproesser assumed management in 1894

Omar Gaston, architectural engineer, former organizer and president of the Merchants National Bank.

Death of Richard Hoge, 1983