User:Evansknight/National German American Bank

Meyer & Willius
What would become the banking firm of Meyer & Willius began its life in 1854 as a grocery firm on State Street in Chicago. Ferdinand Willius had arrived in Baltimore in 1853, and made his way to Chicago via Philadelphia and New York City. Chicago was recommended to him due to its large German population at the time. Heinrich Meyer, with whom Ferdinand had worked at G. J. Bechtel Sugar works in Bremen, had previously immigrated to the city, and they entered into business together after their reunion. They operated as a grocery firm for a year, at which point they branched out into the banking business, which at the time was risky, volatile, and entirely unregulated. Despite this, the need of their immigrant community for financial institutions was strong, particularly in regard to things like sending money to families in Europe, or paying for family members' passage to America. For a group of people who still, largely, did not speak English, the American banks that served their anglophone neighbors were insufficient, leading to the success of smaller, specialized banking houses within their own communities. Chicago was, however, a large and ever-growing city, and so competition for business was fierce. Westward expansion meant that new and untapped resources in the form of underserved communities in fortier towns would need the same services they were providing in Chicago, so in 1856, Meyer and Willius packed up their shop on State Street and relocated to the newly incorporated town of St. Paul, Minnesota.

After their move to St. Paul, Meyer and Willius acquired a space at Bridge Square, then the bustling town center of St. Paul (now part of the city of Minneapolis). They were capitalized for only a few thousand dollars, but the fledgling town had a population of less than 4,500. Shortly after opening this bank, Meyer's brother Fred joined them from Chicago, and Willius' brother Gustav arrived in America from Germany. They were hired as bookkeepers for the firm, and in 1857 admitted as partners. With their brothers managing the bank in St. Paul, Henry and Ferdinand acted on their long-held plans and opened a satellite location in the newly founded and rapidly growing town of St. Peter. That same year, Heinrich Meyer died unexpectedly, which led to his brother Fred quitting the firm. This left only the two Willius brothers, at which point the name of the was changed to reflect the new partnership.


 * myers and willius open
 * myers and willius investors

F & G Willius
https://www.google.com/books/edition/A_Bailey_s_Saint_Paul_Directory_for/H9YvAQAAMAAJ?hl=en&gbpv=1&dq=%22willius%22&pg=PA117&printsec=frontcover

Willius Bros. & Dunbar
Gustav returned from military service in 1863, and Lewis L. Dunbar, a man of substantial means, was admitted into the partnership, and the name of the banking house was changed to Willius Bros. & Dunbar. At this point, they relocated form their Bridge Square office to a new location at 183 Third St. between Wabasha St. and St. Peter St. (where St. Paul city hall stands today).



The German American Bank of St. Paul
When the German American Bank opened its doors in 1873, it claimed to be "among the dozen largest banks in the country".
 * german american bank in 1873

The National German American Bank
Otto Bremer