A Biography of John Edgar Peterson

One of the most prominent and, at the same time, one of the most versatile business men of New London is Mr. Edgar Peterson, born in the state of Iowa and educated in the county where he now lives, his interests have always been concerned in the welfare and the prosperity of his native city. As a representative business man; as an active and earnest working in all that tends to promote the best interests of the municipality and of the individual, Mr. Peterson stands in the foremost rank of the successful business men of the community.

His father, Robert Henry Peterson, was of Scotch [sic: Scottish] extraction, his ancestors having come from Scotland several generations ago. They chose Westmoreland county, Pennsylvania, as their home and here Robert Henry was born, reared and educated. In his early manhood he was a farmer and a school teacher; later, in Iowa, he became a merchant. In 1855 he went to Monroe county, and in 1875 to New London. He wedded Sarah Elizabeth Shelleday and to them were born four children, one of whom, Robert Howard, died in infancy. The three now living are John Edgar, Ida A. and Laura (Mrs. W. H. Spurgeon), who resides in Colorado Springs, Colorado. The mother died in 1882, aged forty-six years and the father passed away in 1897 at the age of sixty-six years.

John Edgar Peterson was born in Monroe county, Iowa, October 12, 1861, and lived there until he was nine years of age, when his parents moved to New London. Here in the public schools he obtained his general education, acquiring at the same time the solid foundation for his business career by spending his spare time as a clerk in his father's store. Thus in his boyhood, he gained an insight into business methods and a knowledge of mercantile life that has enabled him to become the successful proprietor where he began as clerk.

In 1889 he assisted in organizing the business of the old bank and in incorporated the institution under the name of the New London Banking Company. He became the first president. He was also one of the organizers of the First National Bank, established in 1900. He became vice president of this company and still continues in that position. When the Henry County Telephone Company was formed he was one of the promoters and stockholders. At the present time he is vice president and the only one of the original stockholders left with the company. The capital stock represented is seventeen thousand two hundred and fifty dollars, and the company controls lines in Des Moines and Henry counties and has connections with the larger cities.

In spite of his other manifold enterprises, John Edgar Peterson has always been deeply interested in the growth and progress of New London. He was one of the men most instrumental in helping to form the New London Improvement Company, which in 1892 platted all the north part of the town, laying out, at that time, eighty five lots. The New London Land Company is also indebted to Mr. Peterson as one of its originators. Eighty lots on the south side of town were platted by this company. The Lynn addition of forty lots on the northwest, also the Philpot addition of forty acre-tracts in the easter part of town and the Newland addition of about forty lots were laid out by the Henry County Land Company, of which Mr. Peterson was one of the promoters. Mr. Peterson is also interested in farm lands and owns some fine tracts in [New] London township.

Socially J. E. Peterson is a member of the Knights of Pythias Lodge, No. 183, of New London, and was at one time a trustee of the local lodge. In religious matters, Mr. Peterson is a member of the Methodist Protestant Church in which he has always been an ernest and efficient worker, while for many years he has been a valued trustee.

On September 28, 1886, John Edgar Peterson was united in marriage to Florence Lee, a daughter of Samuel and Mary (Lease) Lee. They are the parents of four children: Ruth, Norma, Glenn and Mary. The three older children are in school in New London.

Mr. Peterson's father was the founder of the mercantile concern which Mr. Peterson now owns. It was incorporated in January, 1904, with a capital stock of thirty thousand dollars. Mr. Peterson is president and general manager; Mrs. J. E. Peterson is vice president; and R. H. Dameron is secretary.

In 1902 and '03 Mr. Peterson built, upon the main street of New London, a large and substantial business block for the accommodation of his mercantile interests. It is sixty by eighty feet and is divided into three departments. On the ground floor is one department used exclusively for men's and boys' clothing; another for ladies' and children's shoes and dry goods and the other for groceries. On the upper floor is a line of carpets, cloaks, wall paper, furnishings, and queensware.

A man of great energy and business enterprise, Mr. Peterson well deserves the esteem and high regard in which he is held by his fellow men. He has been one of the promoters of many of the leading enterprises connected with the growth and development of his home city. By his uprightness in business, by his honorable private life, he has earned the respect of all who know him.

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