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CHAPTER XVI.
BANKS AND BANKING.
The history of the various banking institutions that have
formed a part of the business life of the county is not alto-
gether without its deplorable and unfortunate chapters. It
was several years after the settlement of the village that
Manitowoc's commercial needs justified the establishment of
such an institution but as business grew a bank became an
obvious necessity. That it was early considered is witnessed
by the fact that a correspondent of the Evening Wisconsin of
Milwaukee in speaking of a rumored foundation of a bank in
1850 condemned "the idea as a wild cat absurdity." The ab-
surdity of the idea, however, soon wore off and within a few
years there were several small depositaries, among the first
being that of N. Wollnier, which grew up gradually out of a
notary public and land business. The building was located
at the corner of Quay and Eighth streets and the business
was continued until the spring of 1858, when it failed. An-
other institution that met a similar fate at about the same
time was that of William Bach. But the loss of these small
and primitive offices made the need of other and better banks
obvious, a need which was met by the organization of three
in the latter part of 1858. The first was the Lake Shore
Bink, which olvened its doors oni December 18th in the building