Frank L. Yale

Frank L. Yale, merchant, politician and mining banker of Joplin, Missouri

Colonel Franklin L. Yale (1848 – 1930) was a prominent businessman and politician from Joplin, Missouri, who cofounded the Joplin Stock Exchange. He served the Democrats as Chairman of Jasper County under Gov. William J. Stone, and was made a member of Joplin City Council. He was also a mining investor and broker, and was involved in the development of the railroads.

Early life

Frank L. Yale was born on April 14, 1848, in Knoxville, Illinois, and lived on a family farm until he was 15 years of age. His parents were Gad Lowery Yale and Abbey Reed, members of the Yale family. Rodney also later cofounded the Globe Oil Company in Beatrice, Nebraska, with a capital stock of $500,000 in 1903, drilling oil fields in Wyoming. Yale's cousins were Dr. Leroy Milton Yale Jr. of New York and tinware manufacturer Burrage Yale of Massachusetts.

At 15 years of age, Yale joined the Union Army during the American Civil War, becoming a soldier of the 112th Infantry Regiment. He participated in number of engagements for three years, including the Battles of Kennesaw Mountain, Peach Tree Creek, Atlanta campaign, Franklin Battlefield and the Battle of Nashville. He then moved to Joplin, Missouri. During this time, he became the county surveyor, engaged in public affairs, and was elected to the Joplin City Council. In 1895, he was elected Chancellor of the Order of Samaritans of Joplin. He became Chairman of Jasper County under the Democrats from 1897 to 1898. For many years he was a member of Joplin Commercial Club. He was made its Secretary, eventually becoming president, and grew the membership to 300 businessmen.

World's Fair in Chicago, 1893, Yale was Chairman of the Missouri World's Fair Commission by Governor William J. Stone

He then became a Colonel and acquired shares in the Nevada Capitol Gold Mining Company, becoming one of the first and largest shareholders. They stroke gold and the company had a capital stock of 2 million dollars in 1907, with mining engineer Capt. R. G. Dill as the company Secretary-Treasurer.

In 1907, Yale, now a mine operator and broker, cofounded the Joplin Stock Exchange, and was made a board director and its first Vice President.

The exchange had a limit of 200 seats, and was organized by the district's leading bankers, mine owners, manufacturers, jobbers and brokers. It was created to protect the Zinc and Lead district of Southwest Missouri, which produced 15 million dollars in sales annually in 1908.

Later life

Yale became involved in mining, insurance and real estate.

He attended in the same year the banquet of the Federated States Societies in Los Angeles, with Charles W. Fairbanks, past vice-president of the United States, and Samuel Rinnah Van Sant, past Governor of Minnesota, as speakers. In 1914, he proposed with other businessmen the construction of an electric railroad connecting Joplin to Miami, Oklahoma, with the hope of capitalizing on the rich surrounding mineral fields of Zinc and Lead.

He then spent time raising funds for a railroad connecting Baxter Springs, Kansas to the Oklahoma line, and was elected to lead the committee with Mr. Snyder. In 1915, he received the officials of the Missouri–Kansas–Texas Railroad at the club, with Joplin's mayor and 50 local businessmen. In 1921, he joined the real estate firm Yale & Barnhill, and in 1924 he is recorded as Secretary of the Elks, Freemasons of Joplin, noticing bond holders of the Joplin Elks Building.

Yale died on July 25, 1930, in Webb City, Missouri.