Peterson - James A. - Montgomery InGenWeb Project

One of the most conspicuous figures in the present-day history of Montgomery County in the industrial world, is James A. PETERSON, banker and business man in Darlington. Equally noted as a citizen whose useful career has conferred credit upon the community and whose marked abilities and progressive qualities have won for him much more than local repute, he holds today distinctive precedence as one of the most successful men that ever inaugurated and carried to successful termination large and important undertakings. Strong mental endowment, invincible courage and a determined will, coupled with an honesty of purpose that hesitates at no opposition, have so entered into his composition as to render him a dominant factor in the financial and business world and a leader of men in important enterprises. He is essentially a man of affairs, sound of judgment and far-seeing in what he undertakes; and every enterprise to which he has addressed himself has resulted in liberal financial returns, while at the same time he has won and retained the confidence and good will of all classes, and is eminently entitled to conspicuous mention in a volume of the province assigned to the one in hand. Mr. Peterson was b. Jan 10, 1872 in Montgomery County, Indiana. He is a son of John and Hannah (DAIN) Peterson. The father was b. in Ohio July 25, 1829 from which state he came to Indiana when a small child with his parents and here he spent the rest of his life, dying on Jan 27, 1897. The mother of our subject was b. in Indiana, and she is still living, making her home in Darlington. John Peterson devoted his life to general farming and stock raising. He was a quiet, home man, taking little part in public affairs. He was a Republican, and for a number of years co. commissioner. His family consisted of 5 children. James A. Peterson of this sketch grew to manhood on the home farm and there he assisted with the general work when a boy. He received his education in the local public and high schools, later attending a business college in New Albany, Indiana. On June 8, 1892, he married Nora HUNT, who was born in Montgomery Co May 3, 1873 and she received a similar education to that of Mr. Peterson. Five children have been born to our subject and wife, four sons and one daughter: Herbert W, born March 11, 1893 is attending the Chicago Technical University, taking the course in architecture; J. Harold, b. Dec 10, 1896 is attending HS; Charles Husted, born April 19, 1899; Henry Hunt, b. Nov 25, 1905; and Mary Hannah, born July 22, 1907. Mr. Peterson made his start on the farm where he remained until he was 18. In 1891 he entered the first bank that was organized in Darlington as bookkeeper, known as the People's Bank. There he remained until 1902, meanwhile mastering the various phases of the banking business and in March of the last named year the Farmer and Merchants Bank of Darlington was organized, being a private bank with a capital stock of $15,000. In November 1906, this bank was made a state bank, retaining the old name, the new capital stock being $25,000 and a surplus of $6,000. Its development has been rapid, but substantial and its popularity has grown with the years, until it is today one of the most popular, safest and conservative institutions of its kind in the County and the largest tax paying bank in Franklin Twp. Its officers are: president, Albert COX; VP, William HAMPTON; Cashier James A. Peterson; Assistant Cashier, Joseph E. LaFollette. Mr. Peterson was one of the organizers of a private bank at Kirkpatrick, Indiana March 2, 1909 under the name of The bank of Kirkpatrick. Officials: Pres: LC GRIMES; V Pres. M.A. DIX; Cashier, Harry WRIGHT. Mr. Peterson is a director of this bank and he was president of the same until Jan 1, 1913. Its large success and favorable prestige has been gained very largely through the able management and wise counsel of our subject. In 1894, Mr. Peterson was one of the organizers of the Building and Loan Association, becoming sec. of the same. It has been one of the most successful organizations of its kind in Montgomery Co. In 1896, the Darlington Telephone Co. of Darlington was organized, of which Mr. Peterson has bee manager for the last 15 years and he has built it up to one of the best-equipped and most satisfactory systems in this part of the state. In 1895 Mr. Peterson was one of the organizers of the water works system of Darlington, known as Darlington Water Works Company, which installed the present splendid systems in this thriving little city. This company has four good wells from which an abundance of the finest water is obtained. It also affords excellent fire protection for the city. Mr. Peterson is now manager of this company, which, like everything else with which he has been affiliated is a pronounced success. Thus we see that he is a very busy man and an important factor in the affairs of this section of Montgomery County. He is by nature an organizer and promoter, seldom making a mistake, and his promotions are always along safe and legitimate lines. Politically, he is a Republican, but has never been especially active in public life, preferring his happy modern home and his large business affairs. He is a member of the Methodist Episcopal Church and a trustee in the same.-- typed by kbz