The end of the Golden Dragon

1997 saw the end of the Golden Dragon Chinese Restaurant, 217 N. Kingshighway, in Cape Girardeau.

Long a popular eating and socializing place, the Golden Dragon was felled by a bright yellow backhoe in the spring of that year, its place taken by a new Alliance Bank. But even as the hungry claw of the backhoe scraped away at the former Airline Cafe, Les Lindy Jr. was able to claim a part of the establishment, purchasing the globe that had been part of the building's sign through a number of restaurants at that location.

Plans to demolish the Dragon were announced in May 1997, and the walls came tumbling down the following month.

Published May 17, 1997, in the Southeast Missourian:

The former Golden Dragon restaurant, 217 N. Kingshighway, will be demolished to make way for the new Alliance Bank, which hopes to open within 90 days. (Southeast Missourian archive)

BANKING ON IT: SUDDEN BANK BOOM HITS COUNTY

By B. Ray Owen
Southeast Missourian

The Cape Girardeau County banking scene is changing.

Three names familiar to banking customers a half decade ago -- Capital Bank, First Exchange and Amerifirst Bank -- are history.

Soon to join that disappearing list are Boatmen's Bank and Roosevelt Bank, which are becoming victims of mergers.

Such names as Alliance Bank, Capaha Bank, First National Bank & Trust Illinois-Missouri, and NationsBank are banks of the future in Cape Girardeau County.

NationsBank is the giant, having purchased Boatmen's, which was once the largest bank in Missouri and 10th largest in the nation.

With the new banks and disappearance of familiar names, Cape Girardeau County consumers won't really be gaining that many local banking centers.

Five years ago, in 1992, the county had eight banks at 24 locations. As of this weekend there are seven banks at 23 locations.

And when all the new banks open and the existing banks re-program their locations, it could all total up to 10 banks at 28 locations.

The Missouri Division of Finance, which operates under statutory requirements, has a say in the banking community.

"There are a number of considerations before permitting new banks to move into an area," said Earl Manning, commissioner of the Missouri Division of Finance. "We consider the amount of the capital, the character of organizers and officials of banks wanting to organize or move into an area."

Two more vital considerations concern saturation of banking markets, said Manning. "We consider the need and convenience of new banking operations and the effect on existing banks in the area," said Manning.

All of these consideration are taken into account on every application, said Manning.

The first new bank on the Cape Girardeau County scene will be Capaha Bank, formerly Tamms State Bank at Tamms, Ill.

Capaha has already received approval for movement into the area, and will be open within 30 days at 3168 William.

Alliance Bank and First Bank And Trust of Carbondale, Ill., have filed applications for entry into the local market.

One of the applications is for a new bank -- Alliance Bank. Alliance founders are looking at the building that houses the old Golden Dragon Restaurant at 217 N. Kingshighway.

"We're looking at taking down the existing building and installing a modular bank building," said Carolyn M. Hurst of Perryville, chairman of the board of the new bank. "We're hoping for a late-summer opening."

Directors and officers of the new bank met with Manning. The officers include Robert Blank, Cape Girardeau; Robert Meyer, Dexter; Robert Hartle and Rhonda Wallace, both of Jackson; Bryan E. Pogue, Fredericktown; and Hurst.

Pogue, of People's Community Bank of Greenville, will be president of the bank, which will capitalize at $4 million. Wallace will be vice president and cashier.

Alliance has applied to the Federal Deposit Insurance Corp. for federal deposit insurance for the proposed bank.

Meanwhile, First National Bank & Trust Co., 509 S. University Avenue, Carbondale, has filed application with the comptroller of the currency's Chicago office for permission to relocate its main office from Carbondale to Highway 61 at Fruitland.

The Carbondale bank also has filed application to establish First National Bank & Trust Co., Illinois-Missouri, at the Fruitland location.

Commerce Bank, with two locations in the county -- one at Cape Girardeau and one at Jackson -- will soon double that. Commerce has announced plans to open a branch at the Lexington-Route W intersection and will move into the University Center on Southeast Missouri State University campus when Boatmen's Bank pulls out.

Boatmen's, which will eventually become NationsBank, is closing two branches in Cape Girardeau -- at the university and at the 100 Broadway location, leaving it with six locations.

Union Planters Bank, headquartered at Memphis, Tenn., came on the Cape Girardeau scene Jan. 2, 1996, with completion of a merger with Capital Bank. Union Planters also has six locations in Cape Girardeau County, three each in Cape Girardeau and Jackson.

Roosevelt continues to operate as Roosevelt Bank at 211 S. Silver Springs Road, but eventually will be absorbed into the Mercantile Bank group.

Mercantile Bancorporation Inc., an $18.2 billion multibank holding company headquartered in St. Louis, and Roosevelt, a $9 billion thrift holding company headquartered in St. Louis, announced the merger in December.

Mercantile has three branch operations in Cape Girardeau and an ATM at West Park Mall.

The Cape Girardeau County banking scene has changed over the past year and more changes are expected to take place this summer. Consumers in the county could have as many as 10 banks and 28 places where they can conduct bank business.

Banks and branches in Cape Girardeau County in May of 1997:
-- Boatmen's Bank -- total of eight locations, five in Cape Girardeau, two in Jackson and one in Fruitland.
Cape Girardeau locations:
-- 2001 William, main bank
-- 2 S. Mt. Auburn Road
-- 800 N. Kingshighway
-- 100 Broadway
-- Southeast Missouri State University
Jackson:
-- 320 W. Main
-- 1846 Jackson Blvd.
Fruitland:
-- 5721 Highway 61 N.
* Mercantile Bank -- three locations in Cape Girardeau.
-- 325 N. Kingshighway.
-- 3060 William.
-- Town Plaza.
-- ATM at West Park Mall.
* South East Bank -- one location in Cape Girardeau.
-- 111 S. Broadview.
* First National Bank -- one each in Cape Girardeau and Jackson.
Cape Girardeau:
-- 2027 Broadway
Jackson:
-- 2125 E. Jackson Blvd.
* Commerce Bank -- Two locations, one each in Cape Girardeau and Jackson.
Cape Girardeau:
-- 160 S. Boradview.
Jackson:
-- 2025 E. Jackson Blvd.
Proposed in Cape Girardeau:
-- Lexington & Route W Intersection.
-- Southeast Missouri State University.
* Union Planters -- six locations, three each in Cape Girardeau and Jackson.
Cape Girardeau locations:
-- 407 N. Kingshighway.
-- 325 Broadview.
-- 101 S. Mt. Auburn Road.
Jackson:
-- 101 W. Main.
-- 2210 Highway 61 East.
-- 7276 W. Main.
* Roosevelt Bank -- one locations in Cape Girardeau.
-- 211 S. Silver Springs Road.
Proposed
* Capaha Bank, National Association, one location in Cape Girardeau.
-- 3168 William.
*First National Bank & Trust Company, Illinois-Missouri, one location at Fruitland.
--
*Alliance Bank, one location in Cape Girardeau.
-- 217 N. Kingshighway.
Total Banks, Cape Girardeau County, existing and proposed, 10. Total locations and branches, 28.
Cape Girardeau County Banks in February of 1992 (five years ago):
1. Boatmen's Bank, six locations.
2. Mercantile Bank, three locations.
3. South East Missouri Bank, one location..
4. First National Bank, one location.
5. Capital Bank, six locations.
6. First Exchange Bank, four locations.
7. Amerifirst Bank, one location.
8, Commerce Bank, two locations
Total Banks five years ago, 8. Total locations, 24.

Published June 7, 1997, in the Southeast Missourian:

The old Golden Dragon Restaurant building at 217 N. Kingshighway fell victim to a wrecking crew Friday to make way for a new bank. (B. Ray Owen ~ Southeast Missourian archive)

POPULAR CITY GATHERING SPOT COMES DOWN

By B. Ray Owen
Southeast Missourian

Les Lindy Jr. wanted a small piece of history from the old Airline Lounge.

He got it.

Lindy, owner of Lucky Find Antiques at Gordonville, purchased at a recent auction the almost half-century-old, lighted, revolving, 4-foot world globe that stood high atop the structure.

"It'll cost a lot more to get it down than I paid for it," Lindy said Friday.

The globe and the Golden Dragon Restaurant sign was all that remained on the site at 217 N. Kingshighway late Friday.

Lindy was on hand Friday as a piece of mid-century history crumbled as Eagle Excavation demolished the building.

The Golden Dragon, also known as the Airline and the Grogg Shop, was demolished to make room for a bank. Also on hand for the demolition was Robert Meyer of Dexter, an officer for the proposed new Alliance Bank, which has filed application for entry into the local market.

"We're looking to install a modular bank building here," said Meyer. He said the building could be in place within 60 days.

Early recorded history of the Airline building, which was outside the city limits at the time, is sketchy. But it dates back to the 1930s or earlier, when it was the Airline Cafe and Motel, later becoming the Airline Lounge.

A spectator at the demolition site Friday said it was named Airline because at one time a small airstrip was located at the site.

The Airline building was heavily damaged during the 1949 tornado that swept a path through the city. The Airline was rebuilt as the Airline Club, featuring a snappy sign and the 4-foot world globe.

The Airline was one of the first nightclubs in Cape Girardeau. It featured a number of bands that would stop by on trips between Memphis and St. Louis.

Some top musical groups played at the Airline during its hey-day as the Airline Lounge, especially during the rock 'n' roll era of the 1960s.

"It is not known when the building was the Grogg Shop, but lettering of the shop was found on some of the front windows that had long been hidden by the newer outside walls.

The Airline became the Golden Dragon Restaurant during the late 1960s, and continued to operate as a Chinese restaurant under a number of owners until it closed earlier this year.

To read more about the Golden Dragon and other businesses at that location, go to:

* Airline Club

* La Grotta Azzurra