Edward A. Cahoon

Redfield, Georgia B. 

Words 1,480 

4/15/38 

EDWARD A. CAHOON 

Established First Bank in Roswell 

Prominent Leader In Establishment of 

Educational and Fraternal Organizations 

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 Albuquerque where 
he had been employed as teller in the Albuquerque 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 Roswell with W. H. 
Godair of Chicago an President, A. Pruit of Roswell, Vice President and E. A. 
Cahoon continuing as Cashier and Manager. 

{Begin page no. 2}

The deposits at that time were two hundred and fifty thousand dollars. Seven 
years after having become a National institution the deposits had increased 
three hundred per cent - to seven hundred and fifty thousand dollars, and is 
at the present time one of the strongest banking institutions 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 
manager, 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 enterprises 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 completed in March, and the school opened for students the 
following September, 1898. The Armory, one of the most beautiful buildings on 
the campus, was named "Cahoon Armory" in recognition and appreciation of Mr. 
Cahoon's valuable services to this splendid educational institution. 

{Begin page no. 3}

He was active in all interests of Roswell Lodge No. 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, Minnesota, (after Mr. Cahoon's 
graduation from Amherst College Massachusetts, in 1883) that S. M. Folsom 
while on a visit to Minneapolis saw Mr. Cahoon, and told him of the wonderful 
"Sunshine 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 Cimarron country 
150 miles southeast of Cimarron, another was 35 miles southeast." An uncle of 
Mr. Cahoon's, W. C. Chase, and his son M. M. Chase were stock owners and 
managers of some of the ranches. M. M. Chase was manager of the Maxwell Land 
and Cattle Company, a company formed for the purpose of stocking all the land 
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 

{Begin page no. 4}

kept forty horses and three hundred head of cattle. The horses were for his 
individual and family use, and the cattle 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 inclosed 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. Folsom in Minneapolis, and had been interested 
in the 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 San 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 institution until 1890, when he came to Roswell. 

It 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 examined. He was found 
to be of keen business discernment, and was asked to fill the place. He 
accepted the responsibility. It was 

{Begin page no. 5}

in this way (by a lucky chance) the bank of Roswell was organized and has 
stood strong, and sound the entire time under Mr. Cahoon's management, through 
the "Hard Times" of the early years of its organization, and the years of 
depression, until his death December 23, 1934. The success of the bank was 
largely due to the business judgement of Mr. Cahoon and 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, Caledonia county, Vermont." He 
was the son of Dr. Charles S. 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 
director in numerous business corporations. He was charitable - generous to a 
fault - giving much of his worldly goods to the needy during the early years 
of the depression, and the last years of his life. He was the helpful friend 
of the deserving youth, and young men of the state and assisted many of these 
financially in securing college educations. The beautiful Memorial gates and 
park building of Cahoon

{Begin page no. 6}

Memorial Park - named for Mr. Cahoon - in the northwestern part of the town of 
Roswell were designed by Frank M. Stanhardt, 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's life was 
Mrs. Laura (Hedgecoxe) Cahoon, a daughter of Mr. and Mrs. Otto Hedgecoxe who 
moved to Roswell 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 hundred years 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 Institute and of Stanford 
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 performing 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 squareness, 

{Begin page no. 7}

inherited from a good old New England ancestry, as well as for his unusual 
business ability. 

As given by Laura Hedgecoxe Cahoon. 

Dates checked from Twitchell's "History of New Mexico" 

Vol. 1 - 1907. 

"Editors Run" - By C. M. Chase, Lyndon, Vermont - 1882. 

Credit: Library of Congress, Manuscript Division, WPA Federal Writers' Project 
Collection.

Bernalillo, Chaves, Colfax, San Miguel

**********************************************************************************
USGENWEB ARCHIVES NOTICE: These electronic pages may NOT be reproduced in any 
format for profit or presentation by any other organization or persons. Persons or 
organizations desiring to use this material, must obtain the written consent of 
the contributor, or the legal representative of the submitter, and contact the 
listed USGenWeb archivist with proof of this consent. The submitter has given 
permission to the USGenWeb Archives to store the file permanently for free access.
**********************************************************************************