As a merchant, banker and farmer L. S. Kolden, cashier of the State Bank of Neilsville and president of the
State Bank of Leonard, Minnesota, has had a busy and productive life to the present time (1916), and one that has
been of great service to the communities in which he has operated. He was born in Norway August 28, 1857, and became
a resident of the United States in 1873. After his arrival in this country he lived eight years in Wisconsin and
devoted seven of them to clerking in a drug store at Sparta in that state, during which he exhibited fine business
In 1881 he moved to Ada, Norman county, Minnesota, and for two years clerked in a general store there, then started
a general store of his own at Neilsyule, which he conducted with great success for nine years. He began his business
on a capital of $1,000 and sold it at a handsome profit in 1891, having built it up to large proportions and made
the store widely popular and its trade very extensive and active. When the railroad was built through Neilsville
he started a lumber yard, which he continued to operate continuously for three years. During almost the whole of
his residence at Neilsville until 1911 he was also engaged in cultivating his fine farm of 290 acres, which lies
close to the village and is one of the most valuable and attractive in Hubbard township. Since 1911 tenants have
In July, 1911, Mr. Kolden was elected cashier of the State Bank of Neilsville, and he has held that position ever
since greatly to the advantage of the bank and its patrons. He is treasurer of Hubbard township and has been all
of the last fifteen years, and has served as school treasurer or clerk continuously for twenty-two years. He. is
also treasurer of St. Peter's Lutheran church at Neilsville.
Mr. Kolden was married in 1883 to Miss Mary Christianson, who was also a resident of Wisconsin while he was living
in that state. They have one child, their daughter Lucy Clara, who is now the wife of David Payne, a partner of
Mr. Kolden in a lumber business at Holt, Minnesota. Mr. Kolden and his brother, S. S. Kolden, are also keeping
an agricultural impleuient store at Holt, and for some years they handled hardware also in it. They have had charge
of this store six years. In 1915 Mr. Kolden organized the State Bank of Leonard, Clearwater county, on the Soo
railroad line, and he is president of that bank.
The State Bank of Neilsville was orgallized July 18, 1904, with a capital of $10,000. It now has a surplus of $3,000
and deposits amounting to $134,000, while its loans and discounts amount to $132,000. The banking house occupied
by the institution was built in 1904 by Nels Muns and A. D. Stevens. The bank was known as the Stevens bank until
1906, when B. B. Larson and Norman Rosholt bought it and changed its name to the State Bank of Neilswille. L. S.
Kolden was chosen cashier in 1911. The bank is in a flourishing condition and carrying on a general banking business
of extensive and steadily increasing scope and volume.
Compendium of History and Biography
of Polk County, Minnesota
Maj. R. I. Holcombe, Historical Editor
William H. Bingham, Feneral Editor
W. H. Bingham & Co.
Also see [ Railway Officials in America 1906