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Redfield, Georgia B. lords 1.480
4/15/38
EDWARD A. CAHOON
Established First Bank in Roswell
Prominent Leader in Establishment of
Educational and. Fraternal Organisations
The equipment for the first bank established in
Roswell was brought two hundred miles overland by wagon in
1890. by Edward A. Cahoon, who came to the Territory of
New Mexico in 1884, and removed to Roswell from Albuquer..
que where he had been employed as teller in the Albgkquer-
que National Bank, arriving in Roswell during the month of
July 1890.
There were not more than five hundred people in the
entire area of Chaves County at the time of the opening
of the "Bank of Roswell", and the county was larger then
than at the present time, for large portions have been
taken away for the forming of new counties during the past
years.
In September 1899 the bank became a member of the
National Bank system functioning under the title of "The
First National Bank of hoswell with W. H. Godair of
Chicago as President, A. Pruit of Roswell, Vice President
and E. A. Cahoon continuing as Cashier and Manager.
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-The deposits at that time were two hnndred and fifty
thousand dollars. Seven years after having become a
National institution the deposits had increased three hull.
dred per cent to seven hundred and fifty thousand dollars,
and is at the present time one of the strongest banking in-
stitutions in the State of New Mexico, and the bank building
on the corner of Main and Third Streets is modern in every
way and is one of the finest in the State.
The many successful years of the bank's operations
is attributed, up to the time of his death, to the excutive
ability of Mr. Cahoon's service, who was forty-four years
in active management a longer time continuously, as man-
ager, than any banker in New Mexico and is beleived than
any other in the United States.
Mr. Cahoon, as one of the financial heads, was a
leader in all important early development of building, and
business enterprise c during the upbuilding, and growth of
Roswell, and Chaves County. He was actively interested in
the establishment and building of the New Mexico Military
Institution, created by Act of the Territorial Legislature
and approved in 1893, the buildings, for which were complet-
ed in March, and the school opened for studens the follow-
ing September, 1898. The Armory, one of the most beautiful
buildings on the campus, was named "Cahoon Armory" in recog-
nition and appreciation of Mr. Cahoon's valuable services
t this splendid educational institution.
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He was active in all interests of Roswell Lodge
18, Ancient Free and Accepted Masons instituted in June
and chartered in January 1889, during the many years of his
affiliation with this Ancient Fraternal Order.
It was learned through an interview with Mrs. Laura
Hedgecoxe Cahoon that "it was by chance", as well as for
the integrity and force of character of the organizer,
"that the first bank of Roswell was established by E. A.
Cahoon."
"It was during the year 1884 in Minneapolis, Linnet..
seta, (after Mr. Cahoon's graduation from Amherst College
Massachusetts, in 1883) that 6. M. Folsom while on a
visit to Minneapolis saw Mr. Cahoon, and told him of the
wonderful "aunshine Country" of New Mexico, where he had
been for the benefit of his health, and had organized
stock ranches. One of the finest of these in the most
beautiful location was the ranch established in the Cim..
arron country 150 miles southeast of Cimarron, another
was 35 miles southeast." uncle of Mt. Cahoon's, W. C.
Chase, and his son M. M. Chase were stock owners and m:magers
of some of the ranches. M. M. Chase was manager of the
Maxwell Land and Cattle Company, a company formed for the
purpose of steking all the lard in the Maxwell Grant
about 1,700,000 acres. "In 1867 M. M. Chase had a residence
three miles from Cimarron in a rich canyon, a half mile to
a mile wide. There were 1,000 acres of land on which he
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kept forty horses and three hundred head of cattle. The
horses were for his individual and family use, and the oat.
tie belonged to his children who had them branded with
their own marks."
Fifteen miles to the north, he and two partners
Dawson and Maulding-had a ranch of 50.000 acres, all inclos-
ed twenty miles having wire fence, and fifteen miles were
walls of mountains."
Mr. Cahoon knew of the beauty and interesting history
of this country from his relatives, before meeting Mr. Fol-
som in Minneapolis, and had been interested in thc stories
of this ranching and stock raising country.
"I want a job on one of those ranches", said Mr.
Cahoon.
"There is a place for you," said Mr. Folsom. "Come as
soon as you like." So he came to New Mexico in November,
1884, and worked as a cowboy on the ranches in Colfax and
6an Miguel counties, until 1887. During that year he
secured a place as collector, and later as teller, in the
Albuquerque National Bank. He remained with this institu-
tion until 1890, when he came to Roswell.
;t was through the efforts of Jaffa, Prager Company,
early.day merchants of this city that plans were matured
for a bank in Roswell. The man who was to be in charge
changed his mind. Mr. Cahoon's records were cxamined, He
was folinA to be of keen business discernment, and was asked
to fill the place. He eccepted the responsibility. It was
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in this way (by a lucky chance) the bank of Roswell was or-
ganized and has stood strong, and sound the entire time un-
der Mr. Cahoon's management, through the "Hard Times" of
the early years of its organization, and the years of de-
pression, until his death December 23, 1934. The success
of the bank was largely due to the business judgement of
Mr. Cahoon nna his through understanding of the business
conditions, and industries, of New Mexico and to his early
training, and experience in the banking business.
"Mr. Cahoon was born August 20, 1862 in Lyndon, Cale-
donia county, Vermont." He was the son of Dr. Charles 6,
and Charlotte Chase Cahoon., His ancestors were the owners
and builders of the town of Lyndon, and were descendants
of Roger Williams. They were among the first settlers of
Providence, Rhode. Island before locating in Lyndon prior
to the Revolutionary war.
Mr. Cahoon before his death was president of the New
Mexico Bankers Association, president of the Board of
Regents of the New Mexico Military Institute. President of
the Roswell Building and Loan Association, and was direci6r
in numerous business corporations. He was charitable
generous to a fault giving muoh of his worldly goods to
the needy during the early years of th depression, and the
last years of his life. He was the helpful friend of the
deserving youth, and young men of the tate and assisted
many of these financially in securing college 4ducationew
The beautiful Memorial gates and park building of Cahoon
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Memorial Park named for Mr. Cahoon in the northwefAern
part of the town of Roswell were designed by Frank M.
Stahhardt, young architect, whom Mr. Cahoon had assisted
through college.
Four years after the coming of Mr. Cahoon to Roswell
he was married, (in April, 1894,) to Miss Mabel Howell, who
died in October, 1902, leaving three daughters, Katherine.
Louise and Mabel.
The wife and companion of the last twenty-five years
of Mr. Cahoon'. life was Mrs. Laura (Hedeecoxe) Cahoon, a
daughter of Hr. and Mrs. Otto Hedgeooxe who moved to Ros-
well in 1897 when Mrs. Cahoon was a child. She and Mr.
Cahoon were married August 15, 1908. One child, a son, was
born of this marriage, who was named Daniel, for an ancestor
who three Inind'red ye rs ago cleared the land and established
the town of Lyndon, Vermont where Mr. Cahoon was born.
Dan Cahoon is a graduate of New Mexico Military In-
stitute and of jtanford University, California. He is at
present preparing himself to be a physician, as was his
grandfather, Dr. Charles S. Cahoon.
One of the highly valued treasures of Mrs. Cahoon, and
her son Daniel is a silver water pitcher presented to Dr.
Charles Cahoon, Grandfather of Dan, as an award for per-
forming a very delicate and serious operation, in the early
years of surgery, 1862.
The success and achievement of Mr. E. A. Cahoon were
accomplished through his strong minded level headed square.
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ness, inherited from a good old New England ancestry, as
well as for his unusual business ability.
As given by Laura Hodgecoxe Cahoon.
Dates checked from Twitchell's "History of New Mexico"
Vol. 1 1907.
"Editors Run" By C. M. Chase, Lyndon, Vermont 1882.