|The Interurban Train of Southern Illinois Railway and Power Company Heading out from Eldorado to Carrier Mills.|
John H. Scott, a farmer, opened a general store in Eldorado after his return from war service. Scott also, with four others, organized a company and drilled the first oil well in the county. From 1896 to 1906, John H. Scott engaged in the business of selling buggies and light vehicles.
The first general stores in Eldorado were owned by Nathaniel Bramlett and N. Webber. Each of these stores was started before the Civil War. In 1872, Choisser Bros. operated a livery stable and also ran a hack daily to Benton and return. Womack Bros, sold boots and shoes, hats, caps, family groceries, and a general line usually sold in such stores. The Eldorado Grange established a store in 1879, where they sold dry goods, notions, hats, caps, boots and shoes, trace lines, hardware, check lines, and farm implements.
In 1865, Doctor John F. Latham entered into a partnership with his brother, S. C. Latham, in the drug business under the firm name of Latham Bros., and advertised "we will respectfully inform the citizens of Eldorado and vicinity that we will keep constantly on hand a full stock of articles in the line of business which we will sell as cheap as any other druggist in southern Illinois." Cummins & Vaughn opened a "family" grocery store there in 1872.
Major William Elder built the first hotel. It furnished lodging for those who were employed building the railroads through the village.
The original village was incorporated in 1870, with the following board of trustees: William Elder, president; James S. Neal, W. C. Wiedemann, J. N. Elder, and G. L. Eubanks, members.
A. Ledvina was a carpenter, joiner, undertaker, and manufacturer and dealer of furniture. In 1887, Eldorado boasted two drug stores, four dry goods stores, five groceries, one clothing store, one hardware store, one stove and tin-ware shop, one harness shop, one jeweler, one foundry and machine shop, two sawmills, two millinery stores, two livery stables, three hotels, one lumber yard, and one spoke factory.
The most extensive business interests in Eldorado were those of the Burnetts. C. P. Burnett began a mercantile firm in 1871, with his brother-in-law under the name of Burnett & Musgrave. This firm continued until 1885, when Burnett opened his own general store. In 1889, he organized the firm of C. P. Burnett & Sons, taking in with him his sons, C. H., L. E., R. E., and C. P. In 1903, after the death of the elder Burnett, the business was incorporated and continued by the sons. The general merchandise store was divided into separate stores selling clothing, hardware, and groceries. It was in this business that the elder Burnett started the first bank; It was started by Burnett accepting sums of money from his customers merely for safe keeping for which he paid no interest. Out of this practice evolved a private bank which later was granted a charter as a state bank. Burnett owned large holdings in land and was interested in many other enterprises in and around Eldorado.
This settlement, by 1896, could boast of exceptional railroad facilities - The Illinois Central, The Louisville and Nashville, and The Chicago, Cleveland, Cincinnati and St. Louis. Like several other villages, when the railroad company placed the name on the station, the name was spelled Eldorado, instead of Elderedo, and it has been known by that name since that time. East Eldorado begins at First Street, and was added after the original village was platted.