The History of Our Building
Over the past few years, as our business has grown, we’ve taken the time to uncover and collect newspaper articles and clippings that tell the story of the building now home to The Candle Vault. While there are still gaps in the timeline, these sources have helped us piece together a clearer picture of the many events and businesses that have shaped its history.
In reviewing hundreds of articles, we discovered that details often vary from one account to another, almost like a long game of telephone if you are familiar with it. It’s a reminder of how challenging consistent communication must have been at the turn of the century, both locally and across the country.
We hope you enjoy exploring these clippings and the story they tell as much as we’ve enjoyed discovering them.
The Exchange Bank Era - 1885 to 1906
The old bank at 114 Kansas St., Frankfort IL, was constructed in the late 19th century as one of Frankfort’s earliest bank buildings, serving a growing railroad and farming community.
In the 1890s, it operated as the Exchange Bank, a private bank run by Howard Barker, handling deposits for local residents, farmers, and even public funds like school and highway money.
This era represents the building’s original purpose, which was a financial hub at the center of town.
The Frankfort Bank Robbery
In September 1899, the bank became the target of a dramatic robbery carried out by a gang led by the notorious criminal known as “Dago Frank.” According to newspaper reports, the robbers captured a local constable, forced their way into the bank, and used nitroglycerin to blow open the vault. Within minutes, they escaped with cash, vanishing along the nearby railroad line.
Frank Spalding, better known in the newspapers as “Dago Frank,” was one of the professional safe blowers in the midwest at this time. Reports identified him under several aliases, including Frank Steele, Frank Smith, Frank Smithall, and, in later accounts, Jerome or Frank Berry. Newspapers described him as an experienced bank burglar who had previously served time in the Illinois penitentiary at Chester and who was later arrested in connection with other bank robberies, including Easton, Illinois, and an attempted robbery at Montfort, Wisconsin.
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The Bank Collapse Era - 1899 to 1909
Just a few years later, in 1906, the bank collapsed entirely. Its owner, Howard Barker, declared bankruptcy amid mounting financial pressure. Investigations soon revealed a deeper problem: Barker had been using the bank to hold public funds, including school and highway money. When the bank failed, those funds were gone.
Barker was charged with embezzlement and indicted, transforming the bank’s downfall into a full public scandal. The impact rippled through the community as depositors lost money, public institutions were affected, and confidence in the town’s financial system was shaken.
The fallout didn’t end in the courtroom. When efforts were made to secure Barker’s early release from prison, local residents, especially farmers organized in protest, insisting he be held accountable.
In the aftermath, the bank building itself was sold, and it’s fixtures were removed and sold.
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The Citizens Bank Era - 1913 to 1933
After years marked by robbery, scandal, and the collapse of the Exchange Bank, 114 Kansas Street stood as a reminder of a difficult chapter in Frankfort’s history. But in 1913, the building was given a second chance.
That year, a new institution was formed at the site and was called the Citizens Bank of Frankfort. Unlike its predecessor, this was not a private bank, but a state regulated institution, created with greater oversight and transparency. The effort was led by Fred L. Hasenjaeger, a former cashier of the failed Exchange Bank, along with a group of local partners including Frank Folkers, Charles Elsner, H. F. Stellwagen, and John Kampe.
Hasenjaeger had firsthand experience with the previous bank’s operations, and his role in establishing Citizens Bank reflected both continuity and a bridge between the past and a more accountable future.
Under this new structure, the bank was required to publish its financial condition annually, including statements of assets and liabilities, which you can see one of the statements below.
For the next two decades, Citizens Bank served the people of Frankfort as a stable financial institution. Farmers, businesses, and families once again relied on 114 Kansas Street as a place to manage their savings, secure loans, and support the local economy. By the late 1920s, Hasenjaeger had been serving as cashier for more than twenty years, a testament to the bank’s longevity and the community’s renewed trust.
Where the Exchange Bank era ended in scandal, the Citizens Bank era was defined by stability, reform, and the rebuilding of trust.
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The Depression Era - 1930s
By the early 1930s, the Citizens Bank of Frankfort had stood for two decades as a symbol of stability at 114 Kansas Street. But like thousands of banks across the country, it would ultimately fall victim to forces far beyond the control of any one community.
In March of 1933, at the height of the Great Depression, a nationwide banking crisis led to a federal bank moratorium, temporarily closing banks across the United States. While some institutions were able to reopen after federal review, Citizens Bank of Frankfort was not among them.
In the years that followed, the bank entered receivership, and efforts were made to repay depositors. Beginning in 1934, dividend checks were issued under the supervision of a court-appointed receiver, gradually returning funds to those who had accounts at the bank. These payments continued for several years, with additional distributions still being made as late as 1938.
During this same period, Fred Hasenjaeger, the longtime cashier and one of the key figures behind the bank’s revival, passed away in 1934 following an accident and illness. His death marked the end of a personal and professional era tied closely to the building’s second life as a bank.
Post War Commercial Era
By the late 1940s, the building had been repurposed as a retail storefront, housing Sangmeister Electric Sales, an appliance and electronics business serving the growing needs of the community. Advertisements from the period show the store offering a wide range of products, including radios, televisions, refrigerators, washers, gas ranges, and small household appliances.
This transformation reflected a broader national shift. As families embraced new technologies and conveniences, businesses like Sangmeister Electric became essential to daily life—bringing modern comforts into homes that, just a generation earlier, had relied on far simpler tools.
By the late 1950s, the building took on yet another role when it became associated with the Skelly Oil Company, often referred to as Skelgas in rural communities. Rather than functioning as a gas station, the location was likely used as a local office for fuel distribution and customer service, helping residents and farmers manage heating fuel and propane needs.
This era marked a complete reinvention of 114 Kansas Street, from a place where money was stored and managed, to one where modern life was powered and supported. The building had moved from the financial heart of the community to a practical, everyday role in supporting how people lived.
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The Antiques Era and Frankfort on the Main
By the late 1960s, 114 Kansas Street entered one of its most transformative and culturally significant periods. After decades of practical commercial use, the building was reimagined as a place to shop and experience history.
In 1969, the building was purchased and remodeled by Betty Hillenbrand and her husband, who opened an antique shop known as “The Bank Gallery.”
This marked the beginning of a broader movement in downtown Frankfort. Kansas Street became part of a small but growing collection of antique shops and specialty stores, often referred to as “Frankfort on the Main.” Visitors came not just to buy items, but to browse, explore, and experience a sense of nostalgia.
Over time, the building housed a variety of small, independent businesses, each contributing to its identity as a unique retail space:
- The Bank Gallery (late 1960s and beyond)
- Allen’s Antiques, operating by 1980, when a theft of antique items made local news
- The Sports Page, a baseball card shop located in the courtyard area in 1987
- A Victorian Lifestyle, a boutique-style shop operating by the early 1990s
