R. E. Cone Biography


	This biography appears on pages 531-532 in "History of Dakota Territory" 
	by George W. Kingsbury, Vol. IV (1915) and was scanned, 
	OCRed and edited by Maurice Krueger, mkrueger@iw.net.

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				R. E. CONE. 

	R. E. Cone is a prominent representative of financial interests 
in Huron as president of the James Valley Bank, of which institution he 
has served as the chief executive officer since 1911. His birth 
occurred in Iowa in 1881, his parents being James W. and Emily 
(Staples) Cone, who came to Brule county, South Dakota, in 1883. The 
father, an attorney by profession, was engaged in the abstract business 
at Sioux Falls. He died October 10, 1913.

	R. E. Cone acquired his early education in the public schools and 
subsequently attended the Baptist College. After putting aside his 
textbooks he secured a position as stenographer  and in January, 1902, 
became identified with the banking business at Mitchell, entering the  
service of the Commercial & Savings Bank, with which he remained for 
nine years and eight months, acting as cashier of the institution for 
several years. In September, 1911, he came to Huron to take up his 
duties as president of the James Valley Bank, in which important 
capacity he has served to the present time. The bank was incorporated 
on the 15th of May, 1902, with the following officers: George S. 
Hutchinson, president; C. H. Bonesteel, vice president; John J. Greene, 
M. L. Tobin and William Waibel, directors; and Frank J. Sauer, cashier. 
On the 13th of July, 1911, R. E. Cone bought out Mr. Hutchinson and 
succeeded the latter as president of the institution, which owns a 
handsome structure at the corner of Dakota and Third streets. Its 
present officers are as follows: R. E. Cone, president; C. H. 
Bonesteel, vice president; V. C. Bonesteel, cashier; C. C. Smith, 
assistant cashier. The directors are R. E. Cone, John J. Greene, C. H. 
Bonesteel, M. L. Tobin and William Waibel. Following is the statement 
made to the public examiner for the close of business on August 9, 
1913.

				RESOURCES. 

Loans and Discounts                                        $310,098.31
Overdrafts                                                      768.30
Real estate, bank building and fixtures                      17,689.40
Cash on hand                                $19,390.53
Cash in banks                                78,084.14       97,474.67
	Total                                                $426,030.68

				LIABILITIES.

Capital Stock                                               $30,000.00
Surplus and undivided profits                                 5,897.65
Deposits: 
	Subject to check                     $106,350.81
	Bank                                    1,291.31
	Savings                               104,474.10
	Certificates                           178,016.81      390,133.03

	Total                                                 $426,030.68

	The James Valley Bank pays four per cent compound interest on 
savings accounts, receives deposits subject to cheek, loans money on 
personal security, makes farm loans at lowest rates, giving quick 
service, and rents safety deposit boxes for valuable papers at one 
dollar per year. As the head of this institution Mr. Cone has 
contributed in large measure to its continued growth and success and is 
widely recognized as a prominent and respected citizen of Huron.  

	In 1903 Mr. Cone was united in marriage to Miss Frances Haney, of 
Newton, Kansas, by whom he has three children. His political allegiance 
is given to the republican party, while his religious faith is that of 
the Episcopal church. Fraternally he is identified with the Benevolent 
and Protective Order of Elks and the Masons, being past master of 
Resurgan Lodge, No. 31, A. F. & A. M., and a member of the chapter, 
council and commandery at Huron. Though still a young man, he has 
already won an enviable position in financial and social circles of the 
state in which practically his entire life has been spent.