The original bank (Manchester Bank) was listed as 4003 Chouteau while the B. H. Stoltman R. E. Co., was listed as 4005 Chouteau. This was the same building. (Ed. per picture ca. 1918). The bank constructed a new building (date unknown), a few doors west on Chouteau. There has always been confusion over the 4003/4005 address. The B. H. Stoltman R. E. Co. moved it's company's affairs to the "old" bank building at 4003 Chouteau. The Real Estate business was incorporated 5 Apr 1911. It was incorporated under the Missouri Secretary of State as "Business Entity with Charter Number 00026684". The capital stock was $10,000 in 100 shares and was divided as such: B.H. Stoltman - 98 shares, William Hubert, 1 share and Agnes Grabenshoeroer (related to the Heil Packing Co.), 1 share. The purpose stated was, "...real estate loans, deeds of trust and mortgages and to do a general real estate business." In 1922, the capital stock was increased to $25,000. Real estate owned only accounted for $2,700 of the stated assets. Current cash, surplus cash and "subscribed" cash made up the other $22,000+. The shares were as follows: B.H. Stoltman, 156 shares, William Hubert, 78 shares and Agnes G., 16 shares. Strangely, the capital stock would never be increased/decreased again in the 62 remaining years. (Ed. my impression from my general knowledge, the pictures and incorporation papers is that this business was mainly a loan and mortgage company vs. a real estate co. It acted more as a conservative bank and property manager than a sales operation.)
B.H. was listed as one of seven directors of the bank in 1925. (From advertisement)
In a case of terrible timing, in 1928 he became president of the Manchester Bank of St. Louis now located just west at 4011 Chouteau. According to the St. Louis Directory he served as president until 1932. The Depression is reported to have cost him greatly in treasure and health. It certainly could have been a contributor to his death in 1934.
"There weren't any banks out there In "West St. Louis" in 1902. The nearest was way back on Jefferson & Franklin (Ed. abt. 1- 2 miles), so these trail blazers of St. Louis business got together and decided the West country (sic) needed financial service.
Articles of Association of the Manchester Bank and the
certificate of an incorporation were issued 28 Jun 1902. The capital stock
issued was $100,000.00 and B.H. owned 5% or 50 shares at $100.00 each. There was
a problem in obtaining certification until "examination is made to ascertain
that the requisite capital has been paid up and is ready for use in the
transaction of the business of the proposed institution..." this from the
Secretary of State. On 28 Jun, the bank sent certification affidavit from The
Third National Bank of St. Louis stating, "...the credit of the Manchester Bank
of St. Louis on the books of the Third National Bank, the sum of
$125,000.00..." This information was telegrammed to Jefferson City a "Special
Examiner" requesting issuance of certification "today." They accomplished a lot
in one day. See Stoltman 2, Tab AC.
The following was written for the Manchester Bank's Diamond Anniversary - 75th, in 1977 - "...The bank's cash assets on that day were $3,363.84, which was a healthy amount of money at that time........It's difficult to imagine how the bank's corner must have looked in those days. Vandeventer (Old Manchester Rd. then) - (intersects Chouteau) didn't yet extend south to that point and the Chouteau viaduct was still some 14 years away. People who walked to the bank on the wooden sidewalk were splashed with mud from the passing horse-and-wagon traffic--there were no cars yet!"
The first edition of the St. Louis Star of Sunday March 13th,
1904 had an article entitled:
"Manchester Bank has built up Western Section of the City." (currently known as ' Forest Park Southeast' - 2004 )
The construction of the Missouri Pacific tracks and Manchester Road to Jefferson City in the 1850s made the neighborhood accessible. As a result, it was developed as the city's first "subdivision."
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Scott K. Williams, all rights reserved 2005, Florissant, Mo. USA