Frank W. Holmes
Frank W. Holmes, one of Lima's prominent citizens, president of the Fidelity Coal & Supply Company, and identified for years with the oil and other industries of this section, was born in Lima, March 18, 1858, and is a son of Branson P. and Jane W. Holmes. The Holmes family is one of the oldest in the county. For ever 33 years Branson P. Holmes, father of Frank W., was a successful merchant at Lima, and was an acknowledged founder of the city's prosperity. He died in 1870, a man generally esteemed and beloved. The aged mother still survives him. and is an honored member of the family of her son Frank.
The death of the father of Frank W. Holmes, when the latter was only 12 years old, placed heavy responsibilities on the lad as the eldest son; but he was equal to the task and zealously assisted his widowed mother in her struggles to provide for the support and education of the family. Much space might be devoted to narrating the various ways in which the youth conscientiously tried to take his father's place in the family, often willingly sacrificing his own ambitions and comfort. thus he was able to keep intact the estate left by his father, which increased so much in value in later years. Under many discouragements he also continued his studies, and in 1876 graduated in a class of 15 from the Lima High School. If conditions had been different, he would have taken a college course, but as that was impossible at the time he turned to the business field, accepting at first a position in the bank of a neighboring town. Here his only compensation was his board, but he remained nearly a year in order to increase his knowledge, and gain an insight into financial methods. He then returned to Lima and secured a position as clerk in the Lima post office, at a salary of $20 per month, serving in that capacity for two years.
Mr. Holmes' first entrance into the oil business, with which he subsequently became so closely identified, was in the capacity of bookkeeper for W. L. Porter, at a yearly salary of $600, which then seemed to the young man almost a fortune. His business relations with Mr. Porter were of the most satisfactory nature, the most cordial personal feelings being mutually entertained by both throughout Mr. Porter's life. Mr. Holmes held the position until 1881, when , on account of close application to his duties, his health became impaired and his physician recommended a change of climate. He the visited the West and engaged in mining for a short time in Colorado. His health became restored, but he did not advance financially, and he returned to Lima no richer in pocket, but better prepared to stand the stress of business life. In 1882, soon after his return, he was offered the secretaryship of the Lima Iron Fence Company, a position he held for three years.
In the meantime the value of his father's estate had been much increased, on account of the general progress and development of the city. In 1885 he undertook, for the Holmes estate, the buiding of the present Holmes Block. At that time he was residing with his mother on the old homstead. On account of the general municipal progress his property had become too valuable for business purposes to justify its retention as a place of residence. It was therefore decided that a fine business block could be erected which would return a large income in rentals, although, at that time, it was a considerable distance from Lima's business center notwithstanding which, contracts were secured with desirable tenants for lang-term leases, on low payments. Mr. Holmes had a debt of $3,000 with which to contend, and it required all his business ability to accomplish the erection of the business block, which was satisfactorily completed in 1885.
It was soon after the completion of this work, and while Mr. Holmes was unemployed, that the first oil well was opened at Lima. He was offered a humble position with the Trenton Rock Oil Company a corporation supposed to control nearly all the oil territory of any value in Ohio and this he accepted, his work being that of a notary whose business it was to acknowledge oil leases. As this work occupied but a short period, he was soon out of employment; but later, from a chance conversation with a friend, Mr. Holmes secured one of the earliest valuable oil leases in this locality. As a diversion and as an experiment, the friends, both then out of employment, went into the country with the idea of securing an oil lease which they hoped they might be able to sell to some investor. The result was that, after a long day spent with a farmer, who had little faith in the oil business but was of a friendly accommodating spirit, they secured a lease upon his farm. This lease proved one of the most valuable taken in Allen County, and the well subsequently drilled upon it was really the pioneer in the opening up and extension of the oil fields here. The operation of this lease was conducted through a business combination, with parties in Olean, New York, who subsequently dealt with Mr. Holmes in connection with many other leases. At this time he was associated with Frank and Charles Coss, practical oil men, formerly of Olean, New York. While final prosperity came, the early days of Mr. Holmes' oil enterprises were filled with discouragement. When the old J. K. Speer well was drilled, which daily produced 700 barrels of oil, and was followed by the John Ridenour well, whose capacity was 1,000 barrels a day, Mr. Holmes soon acquired sufficient capital to meet all his liabilities.
The history of the oil operations in this section, with the great promise of financial prosperity to hundreds of those, who, like Mr. Holmes, had gone into the business with small capital, and the quenching of hope and extinguishing of opportunity, is too well known in these days of publicity, to recount the tale, with its many details of the greed of the great Octopus which brought ruin to many happy homes. In Mr. Holmes case, before he could sell any of his oil, the Standard Oil Company decided that they had made a mistake in considering that the product was of any value whatever except as fuel, and they therefore lowered the price, day after day, until the time came when 42 gallons of this oil bought the sum of 15 cents. Under these conditions, the various oil producers outside the Standard felt themselves justified in combining for self- protection, and each man's property, including that of Mr. Holmes, was turned into the company at a value which was established by a board of appraisers. He was one of the incorporators and, later, a director in what was known as the Ohio Oil Company. This company continued one year but was forced to sell to the Standard Oil Company.
Prior to the sale of his interests, Mr. Holmes had become associated with S. M. Jones in taking up a large block of territory in the western section of Allen, and the eastern section of Van Wert County. forming what became the Geyser Oil Company. Although this venture did not prove as satisfactory as anticipated, Mr. Holmes made money out of it. Immediately afterward he became interested near Marietta, and later in valuable holdings of the Silurian Oil Company, of which he was a member, and in both of these connections he was eminently successful. For six months after this he was on the leasing force of the Ohio Oil Company and, while the work was exhausting, in that it exposed him to all weathers, he secured 100 leases in one month, on farms ranging from 40 to 800 acres. When the Manhattan Oil Company was organized, he was invited to enter the employ of this organization and as its object (an effort to build up a market for Ohio crude oil outside the Standard) appealed to him, he consented to enter its service for a short time. His connection with the company, however, covered a period of 10 years; first as cashier, then as secretary, and finally as general manager. There is little in connection with the oil industry with which Mr. Holmes is not perfectly familiar. He has watched the business from its beginning, has suffered from the rapacity of competitors, has assisted manfully in protesting against iniquitous business methods, and through sheer ability and brave persistency has reaped financial success where many others have failed.
His oil interests are by no means all that have claimed Mr. Holmes attention. For a number of years, with W. L. Mackenzie he was interested in the Fidelity Lumber Company and, with Mr. Mackenzie, he organized the Fidelity Coal & Supply Company, which has grown into an enterprise of large importance. He continues to be president of this company, being its main directing head. Its great warehouse at Lima has a frontage of 500 feet on the C., H. & D. Railway, and 200 on the L. E. & W. Railway. He is a stockholder and director in The Hall & Woods Company, of Lima, operating the Model Mills; a director of The Ohio National Bank, at Lima, and is one of the incorporators and directors of the South Side Building & Loan Association. On the Holmes farm he has erected several hundred houses which he has sold to good tenants, on easy monthly payments. He has retained large real estate holdings and is an extensive operator in realty.
In 1882 Mr. Holmes was married to May R. Harley, who is a daughter of Dr. L. G. Harley, of Wayne County, Ohio, and they have had four children, viz.: Van Cleve, Branson Harley, Donald (deceased), and Frank H. The eldest son, having completed his course at Amherst College, is now in business in New York City. The second son is a student in the University of Michigan at Ann Arbor, and is also cultivating a remarkable musical gift, being under the instruction of noted teachers of the violin, at Detroit.
For many years Mr. Holmes has been deeply interested in the Young Men's Christian Association, and has been prominently identified with its work. He has served as president and director of the organization at Lima, and has devoted time, money and effort to many other charitable and philanthropic enterprises. Not being a man who heralds his beneficences, much of his practical helpfulness is known only to the recipients. He is a member of the Presbyterian Church and has served as a member of the session.