BANK AND INSURANCE BUILDING COMPANY

BANK AND INSURANCE BUILDING COMPANY. Interest among the business community in the city having a magnificent modern bank and office building had gone on for many years, but nothing tangible was done until 1893. Officials of the IOWA TRUST AND SAVINGS BANK and DUBUQUE FIRE AND MARINE INSURANCE COMPANY found their business had outgrown their facilities, but could not find a building suirtable for either company. A meeting of the boards of directors of both companies was called in August when each agreed to buy 10% of the capital stock if a company was organized to erect a modern, fire-proof office building. (1)

The Bank and Insurance Building Company was incorporated on August 15, 1894 with a paid up capital of $300,000. The board of directors included Thomas CONNOLLY, Frank D. STOUT, James H. SHIELDS, E. A. Engler, and Nicholas J. SCHRUP, Sr.. These business leaders had previously purchased the Cox lot on the northwest corner of 9th and Main in May 1893 and then in July 1894 the Wells-Ham lot next to the corner. Together these two properties made a site 102 x 114 square feet. (2)

The first excavations were begun on September 5, 1894 and the foundation was completed that fall. The board immediately advertised for plans for a building. The proposals were opened on December 5, 1894 and the contracts let. Mr. John Spencer was appointed superintendent of the project and work began when construction generally was at a standstill in the nation due to poor economic times. (3)

The completed building had an estimated 200 offices and stores and bank rooms. The basement contained a store, buffet, furnaces, boilers, water system and fuel vaults. First floor was designed for the bank and stores. Second through sixth floors houses offices. The eastern section of the seventh floor was occupied by the ELKS CLUB. The western half in 1895 was not as yet leased. All the work that could be assigned to Dubuque workmen was awarded to them. The exterior of the building was Italian Renaissance with the building made fire-proof with fire-clay hollow tiles. (4)

The first occupants, including the KEY CITY INSURANCE COMPANY, were in the building around Thanksgiving, 1895. In 1896, 75% of the stock in the company was owned by the previously named men and Augustin A. COOPER, Maurice BROWN, Henry L. STOUT, T. C. Lawler, and William Wyatt CARR. (5)

The 1937 Dubuque Consurvey Directory listed 915 Main.

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Source:

1. "Bank and Insurance Building," Dubuque Daily Herald, December 29, 1895

2. Ibid.

3. Ibid.

4. Ibid.

5. Ibid.