Tuesday, December 23, 2008

Ringilng Bros AL RINGLING Check (1913)

From: Chris Berry

With the Jimmy Stewart classic movie showing up this time of year, it's worthwhile to take a look at the many stories about the relationship that the Ringlings had with the "First National Bank of Baraboo" (since 1938 the "Baraboo National Bank"). For example, during the 1890s there was a scene similar to the run on the "Bailey Savings and Loan" in the Frank Capra classic film. Instead of George Bailey saving the day - the story goes that it was Charles Ringling who brought bags of silver coins into the lobby of the bank - calming the nerves of investors. The bank returned the favor in the early 20th Century giving loans to the show to cover losses caused by everything from the economy to weather. As the Ringling circus interests grew it was important for the show to have a bigger bank behind it and much of the financial operation moved to the Dearborn National Bank in Chicago - but the Ringlings stayed active with the Baraboo bank into the 1920s, serving as officers and members of the Board of Directors.

These two checks are great examples of fine engraving used on what would otherwise be drab business documents. Although Otto Ringing (who had been the show's Treasurer) died in 1911, his portrait (and that of his other four brothers) still appeared on this check from January of 1913. The check - for $5.40 - is payable to "E. Langdon" and endorsed by Al Ringling (in pencil). The second check (from later in 1913) shows a different logo design that reflects the bold colors and power of the Circus Kings. This check from November of 1913 is in the amount of $8.00 and is payable to Carl Saager, and signed by brother Henry Ringling.

2 comments:

Anonymous said...

It's very interesting to note the design concepts of these two checks as well. The first check is certainly a holdover from Victorian Design Principles, indicated by the decorative quality of the lettering and the frame of the portraits, even the portraits themselves are very Victorian, while the second check is a superb example of Art Nouveau Design, which began to incorporate stylized natural elements such as patterned plant and flower designs exactly as the Tiffany Studio in NYC was incorporating into stained glass work and other decorative designs. Very interesting!
Neil Cockerline
Minneapolis, MN

Anonymous said...

The Baraboo bank periodically loaned the Ringling brothers money to complete the wintering process and to initiate spring operations, until such time as there was a net positive cash flow. This stopped as soon [nominally 1900] as the Ringlings started to be substantial profit generators; they ceased most Baraboo bank lending, save for some personal loans.

It was the wet season of 1888 that challenged them the most and when the bank extended them credit when things appeared very bleak. As it turned out, the brothers never had to use the money that the bank loaned to them. The "we saved the Ringlings" story is pretty much bunk.

The Ringlings did borrow money in association with the preparation for the season of 1905, the year in which they acquired a half-interest in Forepaugh-Sells.

In 1893, there was a closure of a different Baraboo bank, the Baraboo Savings Bank, and not the one in question. The Ringlings delivered some bags of silver to their bank, their route causing them to be nearby and thereby making a despoist readily accomplished. Though he happened to be in Baraboo for the birth of his daughter, there's no mention of Charles Ringling [or John, as stated in another legend] playing delivery boy in the period coverage.

When the Ringlings went to buy Barnum & Bailey in 1907, credit was extremely tight. [Shades of 2008, except that the bankers formed their own "consortium" to relieve the blockage some of them had caused.] Otto noted this and stated that he was finally able to secure the necessary funding [$360,000] in New York City.