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COALGATE'S MAN OF THE HOUR
Pasquale Ferrero From Northern Italy
Coalgate suffered a most disastrous cyclone on June 1, 1917, then came the world war, then the boll weevil. On the morning of January 8, the First National, the last bank in the city failed to open its doors. It looked like the world and the home folks had gone against the county site of Coal county. This city of 3009, according to the last census, was bankless. The great oil industry had crippled our vast coal mining enterprises. Our mines have been closed and many of our folks have drifted to California, Illinois, Kansas and other sections of these United States. Every effort had been made by President Tom Mitcham and others to save the First National; but a run on the bank January 7 cleaned up the cash, and on the morning of the 8th the bank was forced to not open its doors. A month prior to this the City National had failed, and naturally the atmosphere of the community was heavily laden with despair. Gloom and gloomy forebodings were uncommonly common.
At last after every effort was made to reopen the First National without avail, it was decided to organize a new bank to be known as The First National Bank in Coalgate. The old bank was known and chartered as the First National Bank of Coalgate. But where was the man who could go out in a community of such despond and secure the ready cash for even a $25,000.00 bank.
Pasquale Ferrero, born May 17, 1865, in Canischio, Province Torino, Northern Italy, and came to the United States on September 7, 1889, locating first in Norris, Ill., where he dug coal; coming to the McAlester coal fields in 1891, and digging coal there for a time in old No. 9 mine, and in 1892 coming to Coalgate where he spent many years digging coal in probably the richest coal field in the state of Oklahoma, was a volunteer to help out the bad situation, and to his efforts in a very large measure may be ascribed the success of the preliminary work of organizing The First National Bank in Coalgate, and for these efforts Mr. Ferrero has been honored by being named the bank's president. It is said of Pasquale Ferrero that when the mines are working here he can go out among the people and borrow $50,000.00 on his word. That is saying a whole lot, but it is generally believed that if any man in the community could do that it would be Pasquale Ferrero.
The Fraternity Hall, at least a $50,000.00 project here, owned by the Knights of Pythias and Red Men lodges, the outcome of the dream of this sturdy Italian, is an ornament to the frugal thrift of an industrious people. The Fraternity Hall consists of a fine two-story brick building covering nearly a quarter block of land. The upper story is divided into three parts. One a fine large lodge room; then a dance hall and banquet room. The lower floor is the Wigwam opera house and a store.
At the age of 12 years, this future citizen of these United States and big asset of Coalgate, left his home and went to Southern France, near the Spanish frontier, to work. He found employment for eighteen months carrying mortar for the masons to work with in building the piers of a great railroad bridge. After a return to his home he next saw Switzerland where he worked for a year Sant Gotardo railway tunnel through the Alpine mountains, near Irolo, Canton Tecino.
This builder, this man of confidence, this leader, was united in marriage to Miss Christina Haag by Mayor Theodore von Keller on November 11, 1903, and with the exception of a six months' visit to his old home has been in this city since coming here. He believes in the future of Coalgate.
When the city government organized Pasquale Ferrero was elected as one of the aldermen, and was reelected and served two terms in this office.
Mr. Ferrero never took much interest in politics nor religious matters. For several years he registered as an independent voter, and has frequently been heard to say, let the preachers and priests look after the spiritual welfare of all those interested. He has been interested in fraternal matters, however, and for many years has been an active member of the Odd Fellows lodge, known as Enterprise No. 9; in the Knights of Pythias and Red Men lodges in the Garibaldi Society. He has been repeatedly honored by all these lodges. He was a member of the Indian Territory Odd Fellow Grand Lodge at the time of the consolidation of the two grand bodies.
For the past four or five years Pasquale Ferrero has been business manager of the grocery store here of L. Ferrero & Son. The senior member of this firm is a brother of the subject of this sketch.
It might be added that with 50 stockholders and 17 directors every element in this great community have been welded into a common cause—building.
The new bank will open next week for business—probably Tuesday or Wednesday. Cashier Henry Brumme is in Oklahoma City at this time completing the final papers to be sent to the Comptroller of the Currency, and when they are received the Comptroller will authorize the bank to open by wire.
