Financial Glimpses

Here is a look at Thomas and Elizabeth's Ducklow / Dukelow's modest wealth:

The Federal Censuses taken in 1850, 1860, 1870 recorded the value of owned property and personal assets. [The 1850 recorded real property only, the 1860 and 1870 census included both real and personal assets.] Great Grandfather Thomas Ducklow's assets where estimated in those years at $300, $1030, and $14,000. Bringing these 19th century amounts into 2008 dollars translates (roughly) into $59,800, $144,600 and $1,383,800 respectively. It's difficult to understand how his land and personal assets could have ballooned more than 10 times in value between 1860 and 1870. These numbers may reflect more on the lack of property valuation skills of the census taker than on the accuracy of Thomas' property value.

In 1892 Great Grandfather Thomas Ducklow died and his estate went to probate. The probate records show that a judge distributed $3,051.40 equally to his eight living children and his wife Elizabeth. Each received about $339.00. In 2008 dollars his estate would be valued in the neighborhood of $161,800, or about $18,000 each.

When Great Grandmother Elizabeth Ducklow died in 1904 her estate distribution was decided by her will. Her estate was valued at $1,730. This amount was distributed equally to the youngest three children of the family: James Ducklow (age 42), Peter Ducklow (age 41) and Lucinda Ostenson (age 39). Each received about $576 in 1905. The value of Elizabeth' estate today would be about $49,000, or about $16,350 each.

It is interesting that the youngest three children received an inheritance but not the older siblings. Mary Ann, John T, George, Charles, Elizabeth and William all were living at the time of Elizabeth's death. Daughter Elizabeth in particular might have been included as she was the care-giver in the last years of Grandmother Elizabeth's life suffering dementia / alzheimers. [Grandmother Elizabeth lived with daughter Elizabeth and son-in-law John. They were in the midst of raising six of their own children on their Barron County farm in Clinton Township.] One might presume that the older children received property or other financial help at an earlier time.

Thomas' Sister Martha Dukelow Connell and William Connell

Great Grandfather Thomas Ducklow had a younger sister named Martha Elizabeth. Like Thomas she too came to America in the early 1840s. She married William Connell in 1842 in New York State. And like Thomas and Elizabeth, William and Martha moved from New York to Southern Wisconsin in the mid 1840s. They lived in Washington County and had farming interests in Calumet County [eastern side of Lake Winnebago].

In 1891 William Connell was near the end of his life and had achieved considerable success. He considered options for passing on his wealth in a measured manner to his children. His solution: He established the State Bank of Chilton in Chilton, Wisconsin. His initial cash assets used to start the bank were $27,000. Today this amount would be in the neighborhood of $1.5 million dollars!

William and Martha Connell had a total of 11 children, 10 of whom were living at the time he started the bank. William died one year after founding the bank (in 1892). His son Thomas Edwin became long-time bank president running it for more than 40 years, including the period of the Great Depression. The State Bank of Chilton continues to operate to this day, marketing itself as the "Calumet County's Oldest Bank." Subsequent descendants of the Connell family have managed the bank through the years. The current president is Thomas A Bloomer who is a Great Great Grandson of William Connell. Click here to link to the history page of the State Bank of Chilton.

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