William Stone

Historical Encyclopedia of Illinois and History of Peoria County, 1902
Transcribed by John Melton!

William E. Stone was born in Beaver, Pennsylvania, August 13, 1836, and died at Peoria, Illinois, December 28, 1894. His father was a New England sea-captain who lost his vessels and his fortune during the Napoleonic wars. His mother was a woman of superior culture and mental endowment, who had the benefit of the instruction of Mary Lyon, in Mt. Holyoke Seminary, then the leading school for young women in this country.

Mr. Stone received his education at Beaver Academy and Washington College, Pennsylvania. In 1844 he came to Peoria with his brothers, George H. and Marshall P. Stone, and associated himself in the banking business under the firm name of M. P. Stone and Company. William was connected with the firm until it was succeeded by the First National Bank, when he became its book-keeper and later cashier and director, retaining that position until his death. He was an excellent financier and, under his management, the First National Bank soon took first rank in the city and in the State outside of Chicago. Mr. Stone was perhaps entitled to as much credit as any other man for the development of the city of Peoria. He was one of the foremost spirits in the building of the West Bluff car line, and the rapid advancement of this section of the city was largely due to his efforts.

He was a pioneer, also, in Averyville, as is attested by the Fairholm Addition and the Straw Board Mill, which he was largely instrumental in building. He was also active in South Peoria, platting, selling and building up large tracts, now known as Bismarck Place, Westmoreland, Humboldt and various other sub-divisions.

Together with Mr. William H. Binnian, Mr. Stone bought the Hodges Harvesting Machinery plant, and this enterprise, now known as the Acme Harvester Company, is another monument to his rare business judgment. He was a thoughtful, kindly, generous, open-hearted, broad-minded man. One of his characteristics was that he never said, "I don't know." His knowledge on all subjects was deep and showed the results of years of study. He had collected one of the finest private libraries in this section of Illinois. He never cared for conspicuous public place, but voluntarily chose the quiet side of life. His greatest joy was a holiday in the woods with his family. He knew all the flowers, the birds, the trees. Geology and astronomy were also familiar pursuits to this many-sided man. His children idolized him and would forsake their companions any hour for a tramp with him in Rocky Glen or other favorite resorts of natural beauty.

Mr. Stone was so identified with various business interests of Peoria, so generally known and consulted touching all matters of public enterprise, that his loss has been most seriously felt by the community and his place has not been filled. Mr. Stone married Gertrude H. Gustorf, and his married life was exceptionally happy. His wife, two sons, William E. and Harry C. Stone, and four daughters, Carolyn M. Hays, Gertrude G. Hastings, Pauline S. Newton and Ethel S. Cassell survive him.

Pages 552-553