James Millikin (Decatur, IL)
James Millikin (August 24, 1827 – March 2, 1909)
Biography
- Name: James Millikin
- Birth: August 24, 1827 Ten Mile, Washington Co., Pennsylvania
- Death: March 2, 1909 Orlando, Florida (Buried in Decatur, Illinois)
Early life and family
James Millikin was born August 2, 1830, (there is some doubt as to his exact age, this is the birthday he gave to a reporter in Decatur), in a community called Ten Mile, Pennsylvania, named after nearby Tenmile Creek. Here stout Scottish Presbyterians worked in the hills of Washington County. His parents were Abel and Nancy (VanDyke) Millikin, who gave him the advantage of schooling in the old Washington College in the town of that name in his native county. Abel Millikin was a wealthy farmer who wanted his sons to become doctors. James never had any leaning toward medicine.
When eighteen years of age, in 1848, when many of the young men of the east were beginning to turn their eyes reflectively toward the broad prairies of western regions, he came to Illinois and began trading in live stock and farm titles, making his initial headquarters at Danville. He did well in these operations and gradually extended his interests until he became a large landowner in Illinois and in Iowa, much of this land having been purchased at the government price of $1.25 an acre. He was one of the first cattle dealers on the Chicago market, his live stock being driven overland. Among his holdings was the land now covered by the city of Bement, Illinois. As the pioneers arrived he found ready buyers for his land and when in 1856, he established his permanent headquarters at Decatur, he was regarded as one of the "coming" men of central Illinois.
He married Anna Bartlett Aston, the daughter of the Rev. Samuel Aston, a pastor in the Cumberland Presbyterian church. The Astons made their home in Washington, Pennsylvania, but came west in 1855 and Mr. Aston was pastor of the Mt. Zion Church. Anna was a graduate of the Washington Seminary in Washington, Pennsylvania. Mr. Millikin's three sisters attended the same school and it was through them that the two met. They were married January 1, 1857 at the Aston house near Mt. Zion. A small crowd of friends and neighbors were present and the couple were married at once. Within fifteen minutes after the ceremony the couple had left on their wedding trip. They came to Decatur and took the Illinois central for Chicago, from Chicago they took a buggy to Council Bluffs, Iowa and came home by Missouri. They spent 6 months on this trip. For a year and a half they lived in the Revere house and then bought a cottage at the northeast corner of Edward and William Streets until construction of a new home was completed in 1876. In 1860 he added to his general realty operations the business of banking.
Banking career
His bank had its beginning back in 1860, when over the door of a modest office on Merchant street, in the old Railroad Bank building in Decatur, the Railroad Bank having recently failed, there was hung a sign reading: James Millikin, Banker. At that time James Millikin was in his thirtieth year. This private bank did considerable business and in 1863 Millikin took J.Q.A. Odor into partnership with him, changing then the office sign to read "Millikin & Odor." This firm was soon dissolved and in 1865 Jerome R. Gorin became Mr. Millikin's associate in the private banking business, the two operating as J. Millikin & Company. In 1881 Mr. Gorin withdrew and his son, Orville B. Gorin, who had entered the bank with his father in 1865, was admitted as a partner. Later Milton Johnson was given an interest, but in January, 1892, he sold out to Parke Hammer, who died in 1896 and shortly afterward J.M. Brownback acquired an interest. This was the situation with respect to this thriving old private bank when in 1897 the name of J. Millikin & Company was dropped and the company was incorporated, securing a charter as a national bank. The title of this new institution was The Millikin National Bank of Decatur. This bank became the largest banking institution in Illinois outside of Chicago.
Mr. Orville B. Gorin, who had filled every position from the lowest to the highest, became president upon the death of Mr. Millikin.
Other career highlights
He assisted in the organization of the Union Iron Works, serving as its president, as well as the Decatur Coal Company. He served on various boards in the city, including as member of the Board of Supervisors and as an Alderman. While he ran for State Senator, a distrust of banks that was prominent in the Middle West defeated him.
In 1875, he began construction of a house at Pine and West Main Streets in Decatur, completing it in 1876. This is now operated as the James Millikin Homestead.
The James Millikin University, which he founded in 1901 and perpetually endowed was dedicated by Theodore Roosevelt, president of the United States, on June 4, 1903. This university is a coeducational institution and comprises schools of liberal arts, engineering, household arts, fine and applied arts, commerce and finance, and education and music. His vision for the University was for it to embrace the "practical" side of learning along with the "literary and classical," and, while affiliated with the Presbyterian Church, it would not be narrowly "sectarian" and would remain open to all. Just across the street east of the university is the Anna B. Millikin Home, an institution established by Mr. and Mrs. Millikin on behalf of children and aged and dependent women.
Later life and death
James Millikin died at Orlando, Florida, March 2, 1909, in his eightieth year. Had he survived but a few more months he would have lived to see the golden anniversary of his bank, the upbuilding and reputation of which were his life and pride. His widow was his only surviving relative, a brother and three sisters having predeceased him.
When Mr. Millikin died in 1909 it was found that his estate had been left to a board of trustees consisting of his widow, Dr. Silas E. McClelland, Orville B. Gorin, Joseph M. Brownback and Smith E. Walker to be used for charitable and educational purposes in the city of Decatur. The foundation thus created was another standing memorial to the man who did so much for the development of the city in which he elected to make his home back in the days of the pioneers. When Anna died in 1913, her will left instructions as to the use of the Millikin Homestead. Her wish was that the home be used as an art gallery, institute, and museum.
Bank Officer Summary
During his banking career, James Millikin was involved with the following bank(s):
- James Millikin, Banker/J. Millikin & Company: President 1860-1897
- Millikin National Bank, Decatur, IL (Charter 5089): President 1897-1908
Sources
- James Millikin on Findagrave.com.
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- Francis Murray Huston, Financing an Empire: History of Banking in Illinois (4 volumes) (Chicago: The S. J. Clarke Publishing Company, 1926), Vol. 2, pp. 527-533.
- The Champaign Daily News, Champaign, IL, Fri., Feb. 26, 1909.
- The Daily Review, Decatur, IL, Tue., Mar. 2, 1909.
- Herald and Review, Decatur, IL, Wed., July 30, 1913.