Honored and respected by all, there is no man who occupies a more
enviable position in financial circles in North Palmyra township than
Lafayette P. Smith, not alone by reason of the success achieved but also
owing to the fact that his business methods have ever been
straightforward and honorable. Born in this county, near Scottville, on
the 2d of November, 1852, he is a son of Jesse and Celia (Roach) Smith,
natives of Kentucky and Tennessee respectively. Arnton Smith, the
grandfather, was a blacksmith by trade and came to Illinois at an early
day, locating on a farm here which he operated throughout the remainder
of his life. His son, Jesse Smith, whose lifelong occupation was that of
farming, removed with his family to Jackson county, Missouri, in 1870,
and there he and his wife both passed away, his death occurring in 1895.
His wife died in 1885.
Lafayette P. Smith acquired his education
in the common schools of Illinois and Missouri, and after laying aside
his text-books accepted a position as clerk in a store in the latter
state, in which capacity he was employed for about two years. He then
returned to Illinois and for a time worked at Nilwood, Macoupin county,
after which he went to Girard and there engaged in clerking for the R.
J. Walker Grain Company for a few years. In 1881 he arrived in Palmyra
and for a time was employed as bookkeeper and manager for the Duncan.
Richie and Mahan Lumber & Grain Company, continuing in that capacity
until November, 1885, when he became cashier of the Bank of Palmyra,
holding that position until 1892. In the latter year he was admitted to
a partnership in the firm, having acquired a third interest in the bank,
and in 1900 was elected to the presidency of that institution, following
the death of D. N. Solomon. Since accepting that office his interests
have been fully identified with those of the bank, which under his wise
management has become one of the safe and popular moneyed institutions
of this district, capably controlled along conservative lines, every
means being employed to protect the depositors and at the same time give
them the benefit of a progressive business policy.
Mr. Smith is
also interested in farming pursuits, being the owner of a fine property
of one hundred and eighty acres, under the supervision of an overseer,
and is an extensive raiser and feeder of cattle and hogs, this branch of
his business being a substantial and gratifying source of income.
Mr. Smith was married, February 26, 1879, in Girard, Illinois, to
Miss Minnie Duncan, a daughter of Thomas and Elizabeth (Kitzmiller)
Duncan, both natives of East Tennessee. The father, now deceased, was a
merchant by occupation. To Mr. and Mrs. Smith have been born five
children, as follows: J. A., assistant cashier of the Bank of Palmyra,
who married Irene Grimmitt, a daughter of W. T. Grimmitt, assistant
postmaster of that place, where Mrs. Smith served as her father’s deputy
for several years; Mabelle, the wife of L. A. Davidson, a merchant of
Mount Auburn, Illinois, by whom she has two children, Dean and Dale;
Laura, the wife of Robert B. James, a merchant of Belton, Texas; Ethel,
the wife of L. C. Lakin, senior partner and manager of the Lakin-McKey
Manufacturing Company of Fort Scott, Kansas; and Byron, at home with his
parents.
Mr. Smith is a valued and exemplary member of the
Baptist church of Palmyra and also belongs to Palmyra Lodge, No. 463, A.
F. & A. M.; Girard Chapter, No. 132, R. A. M.; and the Modern Woodmen of
America, of Palmyra. He gives stalwart support to the democratic party,
although the honors and emoluments of office have held no attraction for
him, preferring to concentrate his attention upon the conduct of his
business affairs. He has ever utilized his opportunities to the best
advantage and, making steady progress in the business world, has today
reached a position of prominence and influence. A dependable man under
all circumstances, the simple weight of his character and ability has
carried him into important business relations, and his career is in
contradistinction to the old adage that “A prophet is not without honor
save in his own country.”
Extracted 18 Nov 2018 by Norma Hass from History of Macoupin County, Illinois: Biographical and Pictorial, by Charles A. Walker, published in 1911, Volume 2, pages 623-624.
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