Hobar Publications

Prairie Homestead to Wall Street
A History of the Jones Family and
Metropolitan Financial Corporation

Prairie Homestead to Wall Street tells the story of four generations who, in their own way and without any great fanfare, lived the American Dream. Hard work, determination, and faith led the Jones family to establish the Metropolitan Building and Loan Association, which became a multibillion-dollar firm and the first North Dakota company to be traded on Wall Street.

The first generation of this industrious family was Henry Jones, who immigrated to America from Norway. After enlisting in the military and serving in the Civil War, Henry settled in Minnesota and became a successful homesteader.

Henry’s son Martin, after several business ventures and missteps, learned from his experiences and at the age of 50, he founded the Metropolitan Building and Loan Association. Martin and his son Maurice nurtured Metropolitan from 1926 through the 1930s and into the post-World War II years.

Using sound conservative, ethical principles and a “customer first” philosophy, Maurice grew Metropolitan into a multimillion-dollar firm while earning respect and leadership in regional circles.

In 1967, his unassuming son Norman took over and successfully weathered the savings and loan crisis. In the process, Norman became a nationally recognized leader in the industry. Metropolitan became the first North Dakota company to be listed on Wall Street and became a multibillion-dollar firm, rewarding those who had faith in the firm his grandfather had started.

About the Author:
After serving in the Air Force in World War II, Hiram Drache earned degrees at Gustavus Adolphus College, the University of Minnesota, and the University of North Dakota. At the same time he worked in several businesses and taught high school between his college years. He purchased his first farm in 1950 and was involved in farming until 1981, when he sold the family farm and began to lease out the others. He has taught at Concordia College since 1952, and after publishing his doctoral dissertation, he has continued to write. This is his twelfth book. In addition, he has contributed to seven others and has written more than fifty articles chiefly on contemporary agriculture and/or agricultural history.

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