HISTORY OF NEW LONDON COUNTY, CONNECTICUT,
WITH BIOGRAPHICAL SKETCHES OF MANY OF ITS PIONEERS AND PROMINENT MEN.
COMPILED UNDER THE SUPERVISION OF D. HAMILTON HURD
J. W. LEWIS & CO., PHILADELPHIA, 1882
PRESS OF J. B. LIPPINCOTT & CO., PHILADELPHIA
[transcribed by Janece Streig]
NEW LONDON - (Continued).
Pages 215 - 222
THE PRESS-THE BANKING INTERESTS.
The New London Summary-New London Gazette-The Connecticut Gazette-The Weekly Oracle-The Bee-The Republican Advocate-The Connecticut Sentinel-The People's Advocate-The Morning Daily News-The Daily Chronicle-The Weekly Chronicle-The State Temperance Journal-The Repository-The New London Democrat-The Morning Star-The New London Telegram-The Day-The Union Bank-The New London City National Bank-The National Whaling Bank-The National Bank of Commerce-The Savings-Bank of New London-The Mariners' Savings-Bank.
The first New London newspaper was established by Timothy GREEN1 [1. Timothy GREEN was the progenitor of the famous line of GREENS, distinguished as printers and publishers in New London for nearly a century, Col. Samuel GREEN being the last of the family.] in August, 1758. This was a small half-sheet paper, published weekly, and called the New London Summary. After a continuance of five years its editor died, and its issue was suspended until 1763, when it was revived under the title of the New London Gazette. This was continued a few years, was enlarged, and the name changed to the Connecticut Gazette, the name of the first newspaper in the colony, but which had then been discontinued. The Gazette was continued by Timothy GREEN & Son, Samuel GREEN, Cady & Eells, again by Samuel GREEN, John J. HYDE, S. H. GREEN, and A. G. SEAMAN, until the expiration of more than eighty years it existence ceased. The Weekly Oracle appeared in 1796, printed and published by James SPRINGER. The Bee was printed and published by Charles HOLT from 1797 to 1802, and then transferred to Hudson, N. Y. The Republican Advocate, by Clapp & Francis, was established in 1818, and continued to 1828, when it was succeeded by the Connecticut Sentinel, which was soon discontinued. The People's Advocate was commenced in August, 1840, published by Benjamin P. BISSELL, and continued, under the editorship of John J. HYDE, Thomas P. TROTT, J. G. DOLBEAR, and W. D. MANNING, until April, 1848, when it was merged into the weekly and daily Chronicle. The Morning Daily News, the first daily paper published in New London, was established by Mr. DOLBEAR, and was afterwards merged in the Daily Chronicle. The New London weekly and daily Chronicle was published by C. F. DANIELS and F. H. BACON form 1848 to 1858, when it passed into the hands of William O. IRISH and Charles BUTLER, and afterwards into the possession of William H. STARR, and after a short time was merged in the State Temperance Journal, and the Chronicle was discontinued. In 1858, The Repository, a family paper, was established by W. H. STARR, and continued four years. In 1845 the New London Democrat was established by J. M. SCOFIELD, who in 1848 issued in connection with it a small daily, the Morning Star. This passed into the hands of D. S. RUDDOCK, who continued the publication until 1853, when an association of gentlemen, under the title of the "New London Printing Company," purchased the paper and office, and are now the publishers of the Gazette, a well-filled weekly sheet, and the Evening Telegram, a daily paper, both of which are having a very liberal circulation.
The New London Telegram and the Connecticut Gazette.-The initial number of the New London Telegram was issued Saturday, May 10, 1873. It was published by the New London Printing Company, and the editorial staff was composed of Courtland I. SHEPARD, business editor and manager; John A. TIBBITTS, political and supervising editor; and John C. TURNER, city editor. It began its existence as an independent Republican journal, and has retained this position. Previous to its appearance the papers published in New London had been noted for their inability to exist, and for a paucity of news and enterprise. The Telegram has endeavored to reverse this experience. It has striven to give its patrons a complete and entertaining summary of all telegraphic news, and to place before its readers a thorough history of local events. In all matters concerning the welfare of the city and the widening of its business relations it has taken pronounced and advanced ground, holding that the faculties possessed by the harbor and the city have never been appreciated or utilized, and that these were peculiarly adapted to the needs of manufactures and ocean commerce. It has fostered local improvements and upheld all wise and beneficial sanitary measures. It has collected and produced faithful reports of all meetings and events falling within its radius, and has sought to be a useful and entertaining member of the newspaper fraternity.
By its enterprise and generous outlay it soon so increased its circulation that it was forced to add to its editorial staff Mr. TURNER, taking charge of the general news, and Mr. Gilbert FOX, assuming the post of city editor. Ill health and business changes have caused the usual calling in of new men. Mr. FOX was succeeded by Mr. W. A. CARROLL, Mr. CARROLL by Mr. John G. CRUMP, and Mr. CRUMP by Mr. Walter FITZMAURICE. Mr. Turner and Mr. TIBBITTS both sough new editorial fields, and were succeeded by Mr. Julius T. SHEPARD (2) and Mr. CRUMP. The following editorial staff at present, July, 1881, is as follows: Mr. C. I SHEPARD, business editor; Mr. John G. CRUMP, political and editorial; Mr. Julius T. SHEPARD (2) general news; Mr. Walter FITZMAURICE, city.
In the matter of occasional contributors the Telegram has been peculiarly fortunate. It has always extended a ready welcome to home talent, and has made the encouragement of the literary element a specialty. It was the first to make prominent that choice series of poems by Dr. H. S. CORNWELL of which "The Bee" and "The Grasshopper" were a part, and it has mingled with other able productions of this author striking poetical works by Mrs. Ida Whipple BENHAM and Mr. T. S. COLLIER.
In the department of fiction it has been so fortunate as to secure a number of original short stories by Dr. H. S. CORNWELL, Mr. T. S. COLLIER, and Mr. O. F. HEWITT, and several valuable historical papers have been contributed by the Hon. William H. STARR.
Its selected miscellany has always been of an entertaining and pleasing variety, and its political selections will compare with those of any paper in the State.
Ever striving to stand abreast with the advance and thought of the time, to furnish its patrons with a full equivalent for their favor, it has steadily increased its circulation, until in this matter it has left all of its predecessors far behind.
It is a four-page sheet, twenty-two by thirty-one in size, with an average daily circulation of twelve hundred copies. Prompt in the business contracts, accommodating in the matter of its columns, honest in its endeavors for the public good, it has won a well-merited and distinctive favor.
The Connecticut Gazette is the weekly edition of the Telegraph, and is under the same management. It is twenty-one by forty-one in size, and has an average weekly circulation of thirteen hundred copies. It was begun as a four-page sheet a the same time as the Telegram, but was changed to an eight-page Oct. 31, 1873. The matter in the Gazette is carefully selected from the daily issues of the Telegram, local and national affairs and news occupying a prominent place. To these are added a comprehensive telegraphic summary and a large miscellaneous department. It is specially prepared to meet the needs of those whose means do not admit of a daily journal, and of farmers and old residents whose homes are now in the new States and territories of the West.
It has striven to be a journal for the family, and one that will afford entertainment and instruction to each member of a household, and much care is bestowed on the matter that is gathered in its columns. Its liberal supply of news and other reading matter-an attribute in which it leads all of its contemporaries-have won it many stanch friends and made it a welcome visitor in all homes.
One point of the Gazette's history should not be lost sight of. It is the direct successor of one of the earliest colonial newspapers, taking the name and following in the general characteristics a paper whose first issued appeared in New London in the last summer or early autumn of 1763. Though there have been lapses in the appearance of this journal, they have not been of long duration, and the Connecticut Gazette of 1763 is worthily represented by the Connecticut Gazette of 1881.
The River Thames.-From "The Edelweiss," a poem by John G. BOLLES now in press, the following extract is taken, illustrative of the river Thames, and of incidents n the history of New London and vicinity:
"But I do love my own fair Thames,
E'er fed by living fountains
And noble streams of Indian name
Upspringing in the mountains.
"All gliding through the valleys sweet
To that delightful river,
By airy wing of zephyr touched,
I've seen its waters quiver,
While jauntily upon its breast
My little skiff would rock and rest;
And I have seen its quiet depths
Reflecting cloud and sky,
And gazed along its winding course
Far as could reach the eye,
Where, nestled 'mid the distant hills,
Its cradled waters lie.
I ne'er beheld a lovelier scene,
Or skies more bright, or hills more green,
While islands in the distance rest
As emeralds on the water's breast.
The traveler, with admiring eyes,
Exclaims 'Can this be Paradise?'
"There towers that lofty monument
On Groton's tragic height,
To mark the spot where martyrs fell
Undaunted in the fight.
"There LEDYARD sleeps, and many a score
Of heroes each renowned,
Who midst the battle's wildest roar
Were firm and foremost found.
"Amid the storm of fire they sang
'Columbia shall be free,'
And every whizzing bullet rang
For honor, liberty.
"ALLYNS and EDGECOMBS left their plow
To win immortal fame,
And glory sets on many a brow
I need not call by name.
"Let HEMPSTEAD's memory be bright
Who wrote the battle's story,
Wounded and bruised and down the steep
Hurled in that wagon gory;
"And left for dead among the dead
Till, toughed by gentle hand,
He saw his wife and rose again
To live long in the land.
"'Twas there DECATUR with his fleet
Held hostile ships at bay,
And guarded well the sacred place
Where patriot ashes lay.
"And fresh upon that famous shore
Shall live the name of one
Who gave the garment that she wore
As wadding for the gun.
"There Uncas darted his canoe,
A friendly Indian power,
And there the Pequot warrior drew
His bow in evil hour,
"And fell beneath the white man's wrath,
As falls a stately tower,
Yet from the reddened earth looks up
To heaven the dew-bright flower.
"And there that quaint old city stands,
New London on the Thames,
With Groton looking from the east,
All bearing British names.
"There may be found that ancient well
In it perpetual flow
Where a whole family once fell
By the assassin's blow
But one, who in the cradle lay,
And father, who was far away;
And from that little one have sprung
Thousands who live to-day.
Nobly for conscience' sake he fought,
And kept his foes at bay;
And still the light upon that shore
Is bright with freedom's ray.
"the first to cross the Atlantic's wave
By FULTON's proud invention;
All honour to those sailors brave,
And of their deeds make mention.
"Their name upon the roll of fame
A lofty place shall hold,
More brilliant set in memory
Then all the gifts of gold
Bestowed by the Titled hands upon
The navigators bold.
"'A ship on fire! a ship on fire!'
The sea-born Briton cried,
Seeking to render friendly aid
With canvas spreading wide.
"Our Yankees looked at them and laughed,
And spec away their little craft
Without a sail, without an oar,--
Its like they had not seen before;
And ere he touched the royal wharf,
With pennant proudly streaming,
'Take down your banner!' cried John BULL,
'A commodore you're seeming;
Take down the pennant and put up
A broader in its place.'
The captain answered, with an air
Defiant in his face,
'Get ready the hot-water pipes;
Be sure you aim them right.'
The Englishman took lively hint
And vanished out of sight.
"To wondering nations forth they go,
Their memory enshrine;
The world moves on-move as it may,
America is mine.
"Within its Thames a harbor lies
Smooth as a summer lake,
Where like white swans the vessels speed,
Their safe repose to take,
When the dark omens of the sky
Their fearful signals make.
"Oft in the deep, secure recess,
Sheltered by islands near,
As darkness draws its curtains round
By hundreds they appear,--
A phantom city of the sea
With lanterns burning clear!"
The Publishing Interest.- The bookselling and publishing business had been conducted in New London on a small scale by Samuel GREEN until about the year 1827, when it passed into the hands of William BOLLES, the author of a spelling-book which he published, and which was a popular work for a while, until superseded by Webster's "Elementary." The subsequent firms of W. & J. BOLLES and BOLLES & WILLIAMS greatly enlarged the business, publishing or manufacturing for New York houses "Walker's Octavo Dictionary," "Scott's Bible," "Life of Napoleon," by Walter SCOTT, "Kirkham's Grammar," "Daboll's New Arithmetic," "Complete Evangelist," etc. "BOLLES' Phonographic Dictionary," royal octavo, edited by William BOLLES, was also published by them.. It is a fact worthy of notice, as displaying the originality and versatility of New England thought and enterprise, that the paper-mill at BOLLES' Cove, a few miles north of New London, was erected by William BOLLES, who made the paper for his dictionary, which was also printed and bound by the concern of which we was senior partner. The bookselling and publishing business of the firm above named is now in the hands of Mr. Charles ALLYN, editor and publisher of "the Centennial History of the Battle of Groton Heights."
The Union Bank of New London was chartered in May, 1792, and was the first bank organized in the State. The first recorded movement for obtaining a charter was at a meeting of a number of persons in New London, Feb. 10, 1792, at which a plan was agreed upon for instituting a bank, and commissioners appointed to obtain subscriptions for stock in the same to the amount of $100,000. Such commissioners were directed to present their proposals for subscription to all those persons whose property, interest, business, or situation should, in the opinion of the commissioners, more particularly entitle them to be become subscribers; but, to prevent subscriptions on speculation by persons not intending to permanently continue stockholders, they were authorized to reject all subscriptions that appeared to be made in that way. At a further meeting, held on the 5th of March succeeding, it appeared that the full amount of stock required had been subscribed, no one person having taken more than thirty shares of $100 each. At this meeting, termed on the record "a stockholders' meeting," the earliest such meeting known to have been held, Hon. Richard LAW, Esq., was chosen moderator, and William LEFFINGALL clerk. The following persons were then elected to be directors of the bank when chartered, viz., Gen. Jedediah HUNTINGTON, Joshua LATHROP, Marvin WAIT, Joseph HOWLAND, Guy RICHARDS, Joseph WILLIAMS, Samuel WHEAT, William STEWART, Daniel L. COIT, Edward HALLAM, Samuel WOODBRIDGE, Joseph PERKINS, and George PHILLIPS, and these directors the same day appointed Jedediah HUNTINGTON president, and John HALLAM cashier. The name of the bank as first proposed was "The Bank of New London and Norwich," the leading citizens of both towns having united in the effort to establish it, and the directors having been taken in about equal proportions from each town; but it appears to have been changed on further consideration to the simpler but equally expressive name of "The Union Bank." The amount of capital stock was fixed in the charter at $100,000, but with liberty to increase the same at any future time to $500,000. The legal rate of interest to be taken was established by the charter at six per cent., and there is no record that the bank has at any time ever taken more than the legal rate. At the first meeting of the directors after the act of incorporation, held June 5th, the president was authorized to provide an office, seal, desk, scales, weights, and he necessary books; also to procure from Philadelphia sixteen reams of paper, paper mould, and plates for bank-notes. Gold was directed to b received and paid out at the bank at the rate of eighty-nine cents the pennyweight. Notes to be discounted were required to have two witnesses to the signature of the maker, and no loan was to be longer time than sixty days. It was further directed that evidence of the funded debt of the United States might (if desired) be received as a pledge for loans instead of other security, viz., the six per cents. At sixteen shillings on the pound, and the three per cents, at ten shillings. A vote was also passed, and public notice of the same given, that all payments by the bank must be examined at the time, as no deficiency suggested afterwards would be admitted. In August of the same year it was further voted that for the purpose of furnishing change, then much wanted in common dealing, there be issued by the bank small bills of the denominations of one penny, twopence, and threepence, to the amount of £576 lawful money. Subsequently this amount as increased, and other denominations, varying from four to twelvepence, were issued.
At a later period in the same year the cashier was directed to send to Dr. Joshua LATHROP, in Norwich (one of the directors there), $500 in specie, to be used by him in redeeming their notes in that town, the same being with a view to the convenience of such persons as should be under the necessity of so exchanging them, and also to the establishing the credit of the notes in that quarter. In October, 1794, at a meeting of the directors, it was voted that having heard there was a large sum of this bank's paper in the Union Bank, Boston, and that it was inconvenient to those holding it, the cashier be directed to send bout $1000 to Boston for the redemption of such paper. In December following he was directed to send them, for the same purpose, about $1400 more. Nothing further is known as to any difficulty in redeeming notes until April, 1796, when a letter was addressed to the bank by David GREEN, an officer (probably president) of the Union Bank, Boston, in which he says that the banks in that town (of which there were then tree) had experienced so much inconvenience from the increase of foreign bills that they had agreed not to receive the bills of any bank out of Boston (except the Bank of the United States) after the 1st of May ensuing; that they regretted extremely the operation of the rule in the case of the Union Bank, New London, for if the other banks had been as attentive to redeeming their bills as that had been no such regulation would have been necessary. He then added that the board had been very desirous of making the New London Union Bank an exception to the rule, but no practical mode of doing so had occurred to them. They would be ready, however, to embrace any opportunity that might offer of accommodating the bank, or making any arrangement with it that should be mutually advantageous. This was soon after followed by a correspondence, the result of which was that Mr. GREEN was constituted the agent of the bank for the redemption of its bills in Boston, he being furnished by it with a deposit on the Union Bank, Boston, for that purpose. This is referred to as being the forerunner and probably the origin of that plan of redemption in Boston by the New England country bank which was afterwards so systematically and rigorously enforced through the agency of the Suffolk Bank. In addition to the small bills of one, two, and threepence, etc., issued, as before stated, for the purposes of change, the bank during the war of 1812, and perhaps earlier, issued bills for fractional parts of a dollar, such as six and half, twelve and a half, twenty-five cents, etc. They also issued, as early as 1795, bills of the denominations of four, six, and eight dollars, many of which continued in circulation until some time after the war. There is nothing tending to show that post-notes were ever issued by the bank. Nor is there any recorded action of the bank in regard to the suspension of specie payment during the war of 1812, or the resumption of the same after it. The only matter of record indicating a disturbed condition of the currency at that period is found in a vote of the directors passed February, 1815, by which a dividend was declared payable in New York bills. The bank redeemed its own bills all through the war, but probably conducted most of its transactions as did the country generally, in the depreciated currency of the times. The business of the bank was from the outset reasonably prosperous. Its first semi-annual dividend was two per cent. From that it advanced by degrees to four per cent, semi-annually, until 1812, when there were two regular dividends of four and a half per cent. Each and an extra one of four and a half per cent., making for the year thirteen and a half per cent. In 1813, there were regular and extra dividends amounting in the aggregate to nineteen and a half per cent. But from what causes the bank was then able to make such does not now appear. From its commencement the bank never passed a dividend, nor, after the first year, ever paid less than six per cent. Annually. Its first president, Gen. HUNTINGTON, continued in office twenty-six years. His successors have been George HALLAM, William P. CLEVELAND, Jonathan STARR, Robert COIT, and William H. CHAPMAN.
The following is a list of presidents and cashiers from 1792 to 1882:
Presidents.-1792, Jedediah HUNTINGTON; 1818, George HALLAM; 1825, William P. CLEVELAND; 1834, Jonathan STARR; 1853, Robert COIT; 1858, William H. CHAPMAN, present incumbent.
Cashiers.-1792, John HALLAM; 1800, Robert HALLAM; 1827, Ebenezer LEARNED; 1836, Joseph C. SISTARE; 1851, Charles G. SISTARE; 1860, Leonard C. LEARNED, present incumbent.
The present directors, 1881, are as follows: William H. CHAPMAN, Robert COIT, Charles PRENTIS, Nathan BELCHER, Julius W. EGGLESTON, George F. TINKER, Israel MATSON, E. Clark SMITH, Horace COIT.
New London City National Bank.-The New London Bank was chartered at the May session of the General Assembly in 1807, and held its first meeting of directors July 1807, when Elias PERKINS was chosen president, and Anthony THATCHER cashier. The first board of directors consisted of Elisha DENNISON, Elias PERKINS, Edward CHAPPELL, Isaac THOMPSON, William WILLIAMS, Jacob B. GURLEY, Edward HALLAM, Cushing EELLS, and William NOYES. In July, 1808, Elias PERKINS resigned, and Elisha DENNISON was chosen president, and held that office until 1828, when Jacob B. GURLEY was chosen and continued in office until 1848, when he resigned and Ezra CHAPPELL was chosen president. In 1833, Anthony THATCHER resigned the office of cashier and E. F. DUTTON was elected, and continued as cashier until 1853, when he was chosen president, to fill the vacancy occasioned by the resignation of E. CHAPPELL, and R. N. BELDEN was chosen cashier. In 1856, E. F. DUTTON resigned and A. N. RAMSDELL succeeded him as president, which office he held until his death in 1873. During his administration the bank was organized into the national bank system, in 1865. Henry P. HAVEN was chosen president in 1876, and continued until his death, which occurred three months after his election. He was succeeded by J. N. HARRIS. In 1878, William H. ROWE was chosen cashier, in place of R. N. BELDEN, resigned, he having held the office for twenty-eight years.
The present board of directors are J. N. HARRIS, E. D. AVERY, R. M. BELDEN, William BELCHER, H. L. CRANDALL, Walter LEARNED, W. H. H. COMSTOCK, D. D. LATHAM, E. T. BROWN. The present officers are J. N. HARRIS, president; R. N. BELDEN, vice-president; William H. ROWE, cashier. Capital stock, $100,000; surplus fund, $13,000.
The National Bank of Commerce.- On the 31st of August, 1852, books were opened for subscription to the stock of this bank, and on the 9th of the following month the first board of directors was chosen, as follows: Acors BARNS, Lyman ALLYN, Henry P. HAVEN, Martin K. CADY, Daniel LATHAM, Benj. F. BROWN, F. W. HOLT, Chas. W. STRICKLAND, and G. L. FORD. Of this board the latter two only are living, April 19, 1881.
At the same meeting Acors BARNS was chosen president, and remained as such until his death, which occurred Nov. 18, 1862. Jan. 5, 1863, his son, W. H. BARNS, was chosen to fill the vacancy, and is the present incumbent of the office. Oct. 4, 1852, Charles BUTLER was chosen cashier, and officiated in that capacity until his death, in March, 1878. On the 25th of the same month Mr. Charles W. BARNS was chosen his successor, and is the present cashier. Mr. BARNS at the time of his election was the youngest cashier except one in the State of Connecticut. The present teller is Mr. George B. PREST. Jan. 5, 1863, the following directors were chosen: Daniel LATHAM, Henry P. HAVEN, Chas. W. STRICKLAND, Martin K. CADY, C. C. COMSTOCK, Chas. MINER, John DENNIS, W. H. BARNS, and Henry R. BOND. The bank was organized with a capital of $100,000, which was increased, Jan. 17 1853, to $150,000; July 7th the same year, to $107,200; and Jan. 14, 1873, to $300,000, its present capital.
At a directors; meeting held Nov. 28, 1864, it was voted "that in the opinion of this board it is desirable to change this association from its present State organization to a national bank, and they recommended the stockholder to take such action as is required to effect this change immediately." The vote was passed unanimously, all the directors being present. At the same meeting the following-named gentlemen were appointed a committee to obtain the necessary number of signatures of stockholders to the articles of incorporation, to draft by-laws, and to purchase the necessary United States bonds; William H. BARNES, Daniel LATHAM, and Henry W. BOND. At a meeting held Dec. 5, 1864, the articles of association of the National Bank of Commerce were signed by all the directors. The customary oath required by act of Congress from directors of national banks was taken by all the directors before Abiel CONVERSE, notary public, and signed and certified to and stamped before him. The certificate of officers and directors of the amount of capital paid up was signed and sworn to before Abiel CONVERSE, notary public, by president, cashier, and directors. The organization certificate was also signed by the directors, stamped and acknowledged before Abiel CONVERSE. Henry R. BOND was clerk.
At a meeting of the stockholders held Jan. 2, 1865, papers from the comptroller of the currency authorizing the National Bank of Commerce to commence the business of banking were read in the meeting by the chairman, after which the following directors were chosen: W. H. BARNS, Daniel LATHAM, H. P. HAVEN, M. K. CADY, Charles MINER, C. C. COMSTOCK, John DENNIS, H. R. BOND, and C. W. STRICKLAND. At a directors' meeting held May 13, 1872, it was voted to increase the stock 1036 shares, amounting to $103,600, and at a meeting of the stockholders of the bank, Jan. 14, 1873, the chairman reported verbally the fact of increase of capital stock fifty per cent., and the subsequent reduction of the same seventy-two shares, so that the stock should stand at the sum of $300,000. It was also reported at this meeting that rooms in the new hotel Building (Crocker House) had been rented for a term of fifty years, to be occupied in connection with the Mariners' Savings-Bank. A report was also made concerning the new safe.
Upon the death of the first cashier, Deacon Charles BUTLER, who had served the association so long and faithfully, the following minute was adopted at a meeting held March 18, 1878: "Deacon Charles BUTLER died at his residence in New London on the 13th day of March, 1878, after a life of quiet, unostentatious discharge of every duty as a man, merchant, and a citizen, at the advanced age of seventy-five year. He was brought up in the mercantile house of the late Maj. Thomas W. WILLIAMS, of this city, where by a long experience and accurate business discipline, brought to bear upon a character singularly pure, simple, and truthful, he became what he has been universally recognized in this community for more than a generation to be.-a man of unimpeachable character and spotless integrity. A safe counselor, a faithful officer, a true friend, and an humble and devoted disciple of his Master, this board, with whom he has been associated for more than a quart of a century, has its peculiar sorrow added to the general affliction. He was known to and loved by each of his associates, who bear their lasting testimony to his capacity, his gentleness, his scrupulous honor, and his faithfulness to every duty. Desiring to express our sense of his virtues and of our loss in some enduring form, we order these minutes to be entered upon the permanent records of this association, and tender to his mourning family our sincere sorrow and sympathy." The bank is located in rooms built expressly for the purpose in the Crocker House Block, and is considered one of the most complete and commodious banking offices in this section. The bank is furnished with all the modern safeguards against fire and burglars. The safe is an improved pattern, weighs twenty tons, and, in addition to its capacity for the banking business, contains one hundred and ninety-nine tills, which are leased as safe deposits. The vault was built at a cost of fifteen thousand dollars. Business was first commenced in the second story of the Union Bank Building, and was continued there until May, 1873, when it was removed to its present location.
The Whaling Bank was organized in 1833, and reorganized in 1865 as a national bank. The present officers of the bank are as follows: President, S. D. LAWRENCE; Cashier, B. A. COPP; Clerk, John W. TINKER; Directors, S. D. LAWRENCE, Sidney MINER, A. BRANDEGEE, F. W. LAWRENCE, Richard M. JEROME, W. D. PRATT.
The Savings-Bank of New London was incorporated in May, 1827. Its incorporators were Wm. F. CLEAVELAND, Ebenezer LEARNED, Robert COIT, Edward LEARNED, Isaac THOMPSON, Ephraim CHESEBROUGH, Archibald MERCER, Jirah ISHAM, Nathaniel I. PERKINS, Nathaniel SALTONSTALL, Peter RICHARDS, Ezra CHAPPELL, Increase WILSON, Wm. P. CLEAVELAND, Jr., Thomas WEST, Charles I. STOCKMAN, Guy TURNER, Thomas W. WILLIAMS, and Jacob B. GURLEY.
The presidents from organization to the present time have been as follows: Ebenezer LEARNED, Ezra CHAPPELL, Robert COIT, Wm. H. CHAPMAN.
The office of secretary and treasurer from incorporation to the present time has been held by Jos. O. SISTARE, Francis C. LEARNED, Joshua C. LEARNED.
The present board of trustees are Wm. C. CRUMP, Wm. H. CHAPMAN, Jos. B. CONGDON, Wm. H. BARN, Charles PRENTIS, John DARROW, Joshua C. LEARNED, J. W. EGGLESTON, Charles BARAS, Robert COIT, J. Lawrence CHEW, George F. tinker, Erasmus D. AVERY, Israel MATSON, Samuel GREEN, William SMITH, Arnold RUDD, Walter LEARNED, James GRISWOLD, Chris. L. AVERY, C. A. WILLIAMS, Horace COIT, D. B. HEMPSTED, F. H. CHAPPELL, David A. DABOLL, and Daniel L. BROWNING.
The first deposit was made on the 2d of July, 1827, by Robert JONES, and amounted to $10.
The present deposits are $3,114,108.51. This bank was the fourth incorporate din the State, the earliest being the Society for Savings in Hartford in 1819, Norwich Savings Society in 1824, and the Middletown Savings-Bank in 1825; it is now seventh in size.
The first depositor was a colored man, and his account remained open until his death a few years ago.
The Mariners' Savings-Bank was incorporated by act of the General Assembly at its May session 1867. The following is a list of its incorporators: William H. ALLEN, Ebenezer MORGAN, Christopher ALLYN, Henry R. BOND, Erasmus D. ROGERS, George G. BENJAMIN, F. L. ALLEN, T. M. WALLER, John M. CHAPMAN, C. S. HOLT, John DENNIS, John A. TIBBITS, A. N. RAMSDELL, Theophilus BROWN, William G. GORTON, Daniel LATHAM, Samuel GREEN, Henry P. HAVEN, Charles D. BOSS, Jr., C. W. STRICKLAND, Rial CHANEY, Elias F. MORGAN, Charles Miner, Richard H. CHAPPELL, Benjamin STARK, C. C. COMSTOCK, James GRISWOLD, J. N. HARRIS, J. T. SHEPARD, Robert A. MORGAN, William H. BARNS, O. WOODWROTH, Leander WILLIAMS, Charles HOWARD, Erasmus L. AVERY, Samuel P. SMITH, Richard P. HUNTLEY, Edward CHURCH, William L. PECKHAM, Henry WILLIAMS, Charles M. DABOLL, and J. C. Avery, by which will be seen that both the marine and mercantile interests of the city were well represented, as well as the interest of adjoining communities.
The following is a list of its first officers: President, Daniel LATHAM; Vice-Presidents, Henry P. HAVEN, A. N. RAMSDELL, Julius T. SHEPARD, James GRISWOLD, Frederick L. ALLEN, C. C. COMSTOCK, W. H. ALLEN, Ebenezer MORGAN, Oliver WOODWORTH; Directors, Henry R. BOND, Benjamin STARK, Rial CHANEY, William H. BARNS, and Richard H. CHAPELL; Treasurer, the National Bank of Commerce; Secretary, Charles BUTLER; attorney, Thomas M. WALLER.
Usually when institutions of the nature of savings-banks commence business it is necessary that it be done under the fostering care of some corporation or bank already established, and in this instance it was the National Bank of Commerce which assisted this young savings-bank, in order to relieve it from rent and other incidental expenses as much as possible. Hence arose the appointment of the first of the National Bank of Commerce as its treasurer. At the annual meeting held in July, 1869, John E. DARROW was chosen its secretary and treasurer, and has so continued to the present. The first deposits were made by two sailors, Aug. 8, 1867, the first Manuel RODERIQUE, $194.03, and the second, Lewis DEPENA, $167.58. This seems to have constituted the first day's business. At the meeting of the Legislature in May, 1868, the next Legislature after it began business, its report, under date of Jan. 1, 1868, was in brief as follows: Whole amount of deposits $11,915.46 Present number of depositors 60 Amount since organization $13,700.46 Amount drawn since organization 1,785.00 Reports were made annually thereafter under date of January 1st of each year, until the time of the meeting of the Legislature was changed to January instead of May, and which occurred in 1877; since then the reports are dated October 1st in each year.
The last annual report, Oct. 1, 1880, gives Whole amount of deposits $1,163,266.45 Present number of depositors 2,274 Amount deposited during the year $267,046.90 Amount withdrawn during the year 159,707.80 Daniel LATHAM, the first president, continued from organization to May 15, 1870, when he resigned, and Henry R. BOND was elected to the presidency, and so continued until the annual meeting, July 26, 1876, when, he declining a re-election, Mr. William H. BARNS was elected president, and has so continued to the present date.
The present list of officers is as follows: President, William H. BARNS; Vice-Presidents, Julius T. SHEPPARD, William H. ALLEN, Ebenezer MORGAN, James GRISWOLD, C. C. COMSTOCK, Erasmus D. AVERY, Samuel GREEN, Wm. L. PECKHAM, E. Clark SMITH; Directors, Benjamin STARK, Robert A. MORGAN, Eldridge P. BECKWITH, James FITCH, David D. LATHAM; Secretary and Treasurer, John E. DARROW; Attorney, Thomas M. WALLER.
The bank has not failed in paying a dividend every six months of its existence, beginning March 1, 1868. Its business was done in the same rooms occupied by the National Bank of Commerce, in the second story of the National Union Bank Building, until May 17, 1874, when it removed to the commodious rooms under the Crocker House, on State Street, which were expressly fitted up for it and the National Bank of Commerce, and used by them jointly.
The Equitable Trust Company was chartered in 1869 and organized in 1872. Its exclusive business is the negotiation and sale of loans secured by mortgage on real estate. Loans made in Western States, and sales effected for the most part in Europe. Its capital is $1,500,000. The officers are as follows: President, Jonathan EDWARDS. Trustees, John Jacob ASTOR, New York; Charles BARNS, Williams & BARNS, New London; William H BARNS, president National Bank of Commerce, New London; Henry R. BONDS, New London; Augustus BRANDEGEE, New London; Willett BRONSON, New York; Charles BUTLER, New York; George C. CLARK, Clark, Dodge & Co., bankers, New York; Robert COIT, president New London N. R. R. Co., New London; Jonathan EDWARDS, New York; J. N. HARRIS, president New London City National Bank, New London; Adrian ISELIN, A. ISELIN & Co., bankers, New York; Eugene KELLY, Eugene KELLY & Co., bankers, New York; Robert Lenox KENNEDY, New York; J. D. LEFFINGWELL, Clinton; George DeForrest LORD, LORD, DAY & LORD, New York; A. A. LOW, A. A. LOW & Co., New York; Francis V. PARKER, PARKER & STACKPOLE, bankers, Boston; Joseph PATTERSON, president Western National Bank, Philadelphia; Henry E. PIERREPONT, New York; William REMSEN, New York; George A. ROBBINS, New York; James A. ROOSEVELT, ROOSEVELT & Son, New York; Alfred ROOSEVELT, ROOSEVELT & Son, New York; J. Gregory SMITH, president Central Vermont Railroad, St. Albans, Vt.; Gustav STELLWAG, Kessler & Co., New York; C. A. WILLIAMS, C. A. WILLIAMS & Co., New London; Samuel WILLETS, WILLETS & Co., New York; Charles Stewart WURTS, Philadelphia. Executive Committee, Adrian ISELIN, Samuel WILLETS, Gustav STELLWAG, William REMSEN, Willett BRONSON, James A. ROOSEVELT, Eugene KELLY, Charles BUTLER, A. ISELIN, Jr., Francis V. PARKER, and the officers of the company, ex officio.
W. W. Perkins Post, G. A. R., was organized Sept, 10, 1879, with the following officers: George HAVENS, C.; Edward N. CROCKER, S. V. C.; John C. BLISS, J. V. C.; Daniel PENBULLEN, Surg.; Goetz BACHERTZ, W.M.; Samuel H. LLOYD, Adjt.; George SAUNDERS, Chap.; Jeremiah J. JONES, O. D.; H. D. W. ROGERS, O. G. The present officers are C. S. DARROW, C.; Goetz BACHERTZ, S. V. C.; Charles E. SEARLES, J. V. C.; Ambrose E. LESTER, Surg.; Edward N. CROCKER, Q.M.; William DOUGLASS, Adjt.; Daniel R. STEVENS, Chap.; George A BUDDINGTON, O. D.; Edward Sullivan, O. G.
There was a post here called Strickland Post, No. 3, formed in 1868, but gave up their charter in 1874 or 1875.
Fire Department.-The present organization of the fire department is as follows: Chief Engineer, William B. THOMAS, First Assistant, Peter MCMULLEN; Steamer No. 1, Niagara; No. 2, Nameaug; Hand-Engine No. 3, Relief; Hook-and-Ladder Company No. 1, F. L. ALLEN Truck Company, Hose Companies, No. 3, W. B. THOMAS, Williams, near Main; No. 4, Konomoc, Church, near Union.