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A Look Back at the Early 1900s

When ESB Financial was founded in 1901, Emporia looked very different than it does today, but the heart of the community was already strong.

At the turn of the century, Emporia was a growing railroad town. In 1900, the population was just over 8,200 people, and by 1910, it had grown to more than 9,000. Railroads were central to daily life, moving crops, cattle, mail, and people in and out of town. Train schedules were printed right in the newspaper, and the steady movement of railcars shaped both commerce and community life.

If you flip through newspapers from that era, you’ll see everyday life on full display. Grocery prices appeared alongside job postings, railroad timetables, and advertisements for clothing, watches, and cold remedies. Money, work, and daily routines were closely connected.

In the early 1900s, a gallon of milk cost about $0.30, a loaf of bread around $0.05, and eggs about $0.20 a dozen. Sugar sold for just under $6.00 per 100 pounds, and potatoes cost around $0.40 per bushel. Gasoline, when it became more common, ran about $0.20 to $0.25 per gallon.

At first glance, those prices sound incredibly low. But wages tell the rest of the story.

Many people earned just a few hundred dollars a year. In 1904, the average wage was around $0.22 per hour, or roughly $35 per month. To put that into perspective, $1 in 1900 would be worth nearly $40 today. Even small purchases required careful thought.

Big purchases felt even bigger. A new home might cost $2,000 to $3,000, and one of the earliest automobiles sold for $600 to $800, a major investment for most families. Budgeting, saving, and planning ahead weren’t optional. They were essential.

This is where ESB Financial’s story begins.

Our founder, Will Wayman, understood that banking wasn’t just about numbers. It was about people, relationships, and showing up for your community. His background in farming, ranching, cattle drives, and working with the railroad gave him a firsthand understanding of the financial realities people faced.

When ESB was founded, it was known as “The Only Bank in Emporia Making Farm Loans.” From the very beginning, the focus was on supporting those who were working hard to build a future for their families and this community.

While banking and technology have changed over the last 125 years, our purpose hasn’t. We’re still here to support our community and help people plan for every stage of life, just like we did in the early 1900s.

As we celebrate our 125th Anniversary, we’re proud to honor where we started and grateful for the generations of customers who have trusted ESB Financial along the way.

Historical content for this article was compiled using resources from the Lyon County Historical Society and ESB Financial.