GRAVES, R. E.

GRAVES, R. E. (Keene, NH, Aug. 8, 1835--Tucson, AZ, Mar. 19, 1918). Graves' early boyhood was spent on a farm, and he received his early education at the common school and academy of his native town. At the age of 16 with $13, his own savings, he left home to begin life for himself. He found work in a bank and at the age of 19 he was elected cashier of the Brighton Market Bank. (1)

Graves came West to Iowa and settled in Dubuque where he established the Dubuque branch of the STATE BANK OF IOWA and was elected its cashier. He continued until 1863 when he accepted the position of cashier of one of the leading banks of Chicago. He was offered the position of United States Tax Commissioner at Charleston, S.C. which he declined. (2)

In 1867, upon the consolidation of the National State Bank and the FIRST NATIONAL BANK OF DUBUQUE, Mr. Graves was offered the management and in March was elected President of the First National Bank. He later sold his interest and resigned his position intending to move East after being offered the presidency of a bank there. By the persuasion of his friends, he organized the COMMERCIAL NATIONAL BANK and served as president. Graves was actively identified with the educational interests of the city and was interested in the advancement of music and art. (3)

In 1875 it was reported that Graves with other Dubuque investors were interested in the Magdalena Railroad. Located in Columbia, the railroad connected the upper and lower waters of the Magdelena River over a distance of thirty miles which were not navigable. (4)

Graves had received offers from other banks for some time before 1888 when he announced he would be leaving for Colorado. He kept his position on the board of directors. (5) Graves had been given the responsibility for an overdraft for $20,000 when the bank went into receivership as a result of the Richard A. BAGGAGE failure. He attempted to find employment in the northwest only to be hounded by the problems in Iowa. (6) In February, 1897 the former bank examiner and key witness for the prosecution against Graves died. At that time it was not expected the case would be continued. (7)He was absolved of the problem by the United States Supreme Court in March, 1897. (8)

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Source:

1. Oldt, Franklin T., The History of Dubuque County, Iowa, Chicago: Western Historical Company 1880, p. 796

2. Ibid.

3. Ibid.

4. "The Magdalena Railroad," Dubuque Herald, December 15, 1875, p. 4. Online: https://news.google.com/newspapers?nid=uh8FjILnQOkC&dat=18751215&printsec=frontpage&hl=en

5. "Dubuque's Loss," The Herald, February 21, 1888, p. 7

6. "R. E. Graves Will Return," Dubuque Herald, March 5, 1897, p. 8

7. "Chances fir Freedom Good," The Dubuque Herald, February 17, 1897, p. 8

8. "R. E. Graves..."