Bio of OLSON, S. E. (b.1845), Hennepin Co., MN
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EXTRACTED FROM: History of Minneapolis, Gateway to the Northwest; 
Chicago-Minneapolis, The S J Clarke Publishing Co, 1923; Edited by: Rev. 
Marion Daniel Shutter, D.D., LL.D.; Volume I - Shutter (Historical); 
volume II - Biographical; volume III - Biographical
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Vol II, pg 702-706
S. E. OLSON
Minneapolis owes much of its present prestige along commercial lines to the
enterprise and business ability of those residents of the city who are of
Scandinavian birth and to this class belongs S. E. Olson, a native of Norway. He
is widely and favorably known in Minneapolis, in which he has made his home for
over forty-three years, and he has been an interested witness of its rapid
development and upbuilding, to which he has made notable contribution. For many
years he occupied a position of leadership in mercantile circles of the city,
creating a business of mammoth pro­portions, but in the evening of life he is
living retired in the enjoyment of a well earned rest.
Mr. Olson was born in Ringsaker, Norway, February 2, 1845, and in 1858 his
parents came to America with their family, which numbered two sons and three
daughters. They located on government land in La Crosse valley, Wisconsin, and
after assisting his father in clearing the tract and developing a farm S. E.
Olson started out in life for himself, walking to La Crosse, a distance of
seventeen miles. There he obtained employment in a general store, later spending
a few months as a pupil in a school at Beloit, Wisconsin, and during that time
he offered his services to the government in defense of the Union cause in the
Civil war, but owing to his youth and small stature he was not accepted. For
three years he filled a clerical position in a store at Cambridge, Dane county,
Wisconsin, and in 1865 he reentered the service of his former employer at La
Crosse in the capacity of bookkeeper and assistant manager. Two years later he
embarked in business on his own account at Rushford, Minnesota, organizing the
firm of S. E. Olson & Company, but sold out in 1870 and rejoined his first
employer at La Crosse, being admitted to a partnership, with the understanding
that he might decide to locate later in Minneapolis. He was appointed a delegate
to a state Sunday school convention held at Mankato, Minnesota, and he improved
the opportunity to visit Minne­apolis, taking the steamer to St. Paul. There he
called on an old La Crosse acquaintance, then connected with the St. Paul Fire &
Marine Insurance Company, and invited his friend to accompany him on the trip,
which was made by team by way of the Fort Snelling ferry. They dined at the
Nicollet House and returned over the old suspension bridge, but whatever
favorable impressions Mr. Olson may have formed of the city at that time were
dispelled by his friend, who used the argument advanced by the majority of St.
Paul's residents during the early days, namely, that Minneapolis could never
become anything more than an industrial suburban annex to St. Paul. Mr. Olson
then decided to retain his La Crosse interests and returned to that city,
entering upon his partnership agreement, which was to terminate in three years.
On the expiration of that period he formed the wholesale and retail goods firm
of Olson, Smith & Company, which was continued until 1878, when it was
dissolved, the wholesale division being taken over by Mr. Olson, who removed his
business to Minneapolis, consolidating his interests with the wholesale dry
goods and manufacturing house of N.« B. Hardwood & Company. They waged a bitter
Sght against a powerful, solidly entrenched, resourceful and remorseless rival
for commercial supremacy in the rapidly developing Twin City trade, domain. The
unfortunate failure of this house in 1880, on account of its magnitude and
signifi­cance, was a severe blow to jobbing interests of Minneapolis, bringing
disappoint-ment and dismay to a large number and disaster to many. Mr. Olson
faced financial ruin but took an active part in closing out the merchandise, as
acting receiver in charge of winding up the estate, preparing all data in
litigation and final closing of same for C. H. Pettit, receiver in -fact. Mr.
Ingram, who had also been associated with the conduct of the undertaking and had
likewise lost a large sum through the failure of the house, joined Mr. Olson in
a liberal offer to buy the "tail ends" of the stock, which had been purchased by
a New York syndicate. This offer was accepted and the business was resumed at
the old location under the new style of Ingram, Olson & Company, who converted
the establishment into a retail department store, introducing the new method of
advertising bargain sales and always delivering goods as advertised. The
undertaking was conducted according to the most modern methods of merchandising
and as a result the business grew by leaps and bounds until in ten years the
volume of turn-over had reached one million dollars annually. Comparing prices
obtained then with those of the present day, this would now be equivalent to
more than a two million dollar turn-over, the city being then one-third of its
present size.
In 1887 Mr. Olson purchased Mr. Ingram's interest and became sole owner of the
concern, changing the style to that of S. E. Olson & Company. In 1892, seeking a
more desirable location and greater space, he secured a hundred year lease of
the Lyman tract, situated at the corner of Fifth street and First avenue, South,
and erected the "Big Store," which was opened to the public in September, 1893.
Under the capable direction of Mr. Olson the business rapidly developed and in
1900 it had reached a volume of more than two million dollars, which at the
present range of prices would amount to over four million dollars, the city at
that time having but one-half of its present population. Mr. Olson obtained a
lease from Lyman Brothers for sixty-six feet of frontage on Nicollet avenue,
also securing the alley between Fourth and Fifth streets, and erected the famous
Arcade, which he joined to the "Big Store," thus becoming the owner of one of
the most imposing and attrac­tive business blocks in Minneapolis, constituting a
valuable addition to the architec­tural beauty of the city. He was at all times
prompted by the spirit of indefatigable energy, and with him the recognition of
opportunity was equivalent to the perform­ance of a task. Possessing the power
of concentrating his entire thought upon the matter in hand, he thus brought to
bear all of his force and power in the accomplish­ment of his purpose and
succeeded in developing one of the largest and finest depart­ment stores in the
northwest, while his establishment was of incalculable value in promoting the
commercial prestige of the city. In 1901 Mr. Olson sold the business to a New
York corporation, organized for the purpose of taking over the leading
department stores in twenty-five or more of the most important cities in the
country, and retired permanently from the field of merchandising, having
accumulated a very substantial competence through his progressive spirit and
superior business qualifica­tions.
In 1901, after winding up his business affairs Mr. Olson and his wife sailed for
Europe, spending fifteen months in foreign lands, this being the first vacation
which he had taken since entering upon his business career. During this time he
also revisited his native country, which he had not seen for forty-three years,
and after returning to Minneapolis he devoted his attention to the supervision
of his real estate interests, which are very extensive. He was one of the
principal founders of the thriving city of Mobridge, South Dakota, where he
still has large holdings.
In 1889 Mr. Olson had married Miss Ida May Hawley. He stands for all those
things which count for most in his city's upbuilding, taking great pride in its
advancement, and his labors have constituted a dynamic force in its development.
To him is due the credit of revoking the permit granted the street railway
com­pany to lay tracks on Nicollet avenue and he also initiated the movement of
con­ducting a great Northwestern Exposition to circumvent the attempted
monopoliza­tion of state fair benefits by an unscrupulous rival. He is a stanch
republican in his political views and has been an active worker in the ranks of
the party. He assisted in securing the national republican convention which met
in this city in 1892, attending the same as an alternate, and he was district
delegate to the Philadelphia convention in 1900. He has been a member of the
staff of three governors, but the honors and emoluments of public office have
never been an attraction to him, although he is deeply interested in civic
affairs and it is his earnest wish that the municipal government will always
remain true and steadfast and that it may never fall a prey to the irresponsible
elements who seek no other ends than ruin and inevitable chaos. Although a
regular contributor to many clubs, lodges and chari­ties, Mr. Olson has never
been active in their management, with the exception of one year's service as
president pf the Odin Club, which he aided in organizing. He has ever recognized
the fact that each day and hour has its opportunity and that effort,
intelligently put forth, must ultimately win its reward, and in the fullness of
time he has reaped the reward of untiring industry, notable business acumen and
marked administrative ability. He is a self-made man who has constructed his own
success and he has made his life count as a forceful factor in advancing the
interests of his city along many lines.