A private bank, the first in this part of the state, was established by Raynolds and Wallace and was called the Cheyenne County Bank." A. H. Raynolds was from Canton, Ohio, and was a relation of President McKinley. William Wallace was for years connected with the Omaha National Bank, and a figure of prominence in the financial world. After establishing and operating their bank for a time Raynolds and Wallace sold to Saxton Brothers, who were also from Ohio, and also related to McKinley. That bank continued to operate and was known as the Exchange Bank. It went to the wall in latter financial depressions, and the assets were taken over by Morgan and Johnson, who ran it for a number of years. About 1889, Mr. Morgan shot himself and the bank became financially embarrassed. The county treasurer, Adam Ickes, had county funds in it and he went broke trying to make good the county losses, turning over all his private funds and property in an effort to save his bondsmen.

The American Bank, which had just been established, took over what was left of the wrecked Exchange Bank and J. J. Mcintosh, president of the American Bank, was made receiver of the Exchange. Edwin M. Mancourt, of Terre Haute, Indiana, a proficient banker, established the Merchants Bank. He was more conservative than had been his predecessors in Sidney's banking circles. After a few years he liquidated and went east, being a large banker in Detroit, Michigan, today,

and also vice-president of the consolidated coal companies. The third bank in Sidney was established by Milton Ahrends, but it was later merged with the First National Bank.