Bristol County, Massachusetts - Chapter 12: The Banking Institutions, 1924

"Oldest and most successful" can be applied without reserve to the history of financial interests of Fall River, that, being introduced with some of the first of the national and savings banks in the State and country, has continued from small beginnings to the present status of sixteen banking institutions, that represent more than fifty millions of dollars in their capital or deposits. The banks here have kept pace with the increasing value and growth of the industries, as well as with the increase of the population's needs. The Fall River Savings Bank, one of the first in the United States, was started in 1828, and successively there have come into existence three other savings banks, all on firm footing, and that fill their place and meet all demands.

The Fall River Bank, now the Fall River National Bank, was established in 1825, when most of the present large cities of the country were villages or small towns. Four other national banks have since been added. There are also two trust companies and five co-operative banks, and the clearing house was established in 1892. The outline of the history of the various banking institutions that follows is, as well, a compilation of the financial survey of the progress of town and city.

The first bank to be established in the village of Fall River was the Fall River Bank, incorporated in January, 1825, the act of incorporation containing the names of Oliver Chace, David Anthony, Bradford Durfee, Richard Borden, Nathaniel B. Borden, John C. Borden, Lucius Smith, Samuel Smith, Clark Shove, Harvey Chace, Edward Bennett, Arnold Buffum, James Ford, James G. Bowen, William W. Swain, Benjamin Rodman, William Valentine, Holder Borden. The first meeting of the stockholders was held April 7, 1825, when Oliver Chace, David Anthony, Bradford Durfee, Sheffel Weaver, Edward Bennett, Gideon Howland, Benjamin Rodman, John C. Borden and Richard Borden were elected directors, and at a later meeting of the directors David Anthony was chosen president, and Matthew C. Durfee cashier. David Anthony, after a service of forty years as president, resigned in 1865, and he was succeeded by Colonel Richard Borden, who, after holding office nine years, was succeeded in 1874 by Guilford H. Hathaway; and he in 1895 by Ferdinand H. Gifford, who had been cashier since 1873. Matthew C. Durfee, the first cashier, so continued until 1836, when Henry H. Fish succeeded him, serving twenty-seven years and resigning in 1863. His successor was George R. Fiske, who served until 1873, and was succeeded by Ferdinand H. Gifford. George H. Eddy, Jr., became cashier in 1895. The following is the official status of the institution since that time:

The bank building, which was of brick, and was constructed at the corner of Main and Bank streets in 1826, was destroyed by the fire of 1843, but was rebuilt the same year. The present building was erected in 1892, and that year the payment of interest on deposits was begun. Fall River Bank started with a capital of $100,000, which was increased to $200,000 in 1827, and to $400,000 in 1836. In 1844 it was reduced to $350,000, but increased again to $400,000 in 1864, when the institution was incorporated as the Fall River National Bank, No. 500.

The First National Bank of Fall River, organized January 23, 1864, was the first bank in this section of Massachusetts established under the National Bank act, its number being 256. The first capital of $200,000 was increased in 1865 to $400,000. The first. president was John S. Brayton, and at his death, in 1904, he was. succeeded by his son, John S. Brayton, Jr. Charles A. Bassett was the first cashier, and he was succeeded by Hezekiah H. Brayton in 1877. C. E. Hendrickson was cashier in 1880, and Everett M. Cook succeeded him in 1887. Frederick W. Davis holds that office today. The headquarters of the bank at first was at the southwest corner of Main and Central streets, and in May, 1888, removal was made to the present building.

The Second National Bank, originally the Wamsutta Bank, received its original incorporation June 4, 1856, the capital being $100,000. 'The incorporators were S. Angier Chace, Hale Remington, William Mason, second, S. Angier Chace being elected president and Charles F. Holmes, Jr., cashier. The corporation became a national banking institution, as the Second National Bank of Fall River, in May, 1864, when the capital was increased to $150,000. Mr. Chace was succeeded by Thomas F. Eddy as president in 1878, and Leontine Lincoln was elected president in 1887. The bank was merged with the Metacomet National Bank in February, 1903.

The National Union Bank, that in 1903 was merged with the Massasoit- Pocasset National Bank, was chartered as the Bristol Union Bank of Bristol, R. I., in 1823. With a capital of $10,000, it began business in 1824, soon increasing the capital to $40,000. The name was changed to the Fall River Union Bank, upon removal to Tiverton in 1830. In 1837 a building was constructed for its use at South Main and Rodman streets, but in 1862 headquarters were at the present City Hall building, when the change in the State line brought the bank under Massachusetts laws.

In 1865 the name was again changed to that of National Union Bank, with headquarters at No. 3 Main street. The presidents of this bank were: Barnabas Bates and Parker Borden, the latter until 1838; David Durfee to 1846; Nathaniel B. Borden to 1865; Jesse Eddy to 1874; Cook Borden to 1880; Daniel Wilbur to 1896; Thomas B. Covel to 1903. Nathaniel Wordell and Josiah Gooding were the bank's first cashiers. William Coggeshall was cashier to 1860; Daniel Chapin to 1888; John T. Burrell to 1903.

By the consolidation of the Massasoit and Pocasset National banks and the National Union Bank, the Massasoit-Pocasset National Bank was organized in July, 1903, with a capital of $650,000. Charles M. Shove, who was president of the Massasoit, and Eric W. Borden, who had been its cashier, were chosen to the same positions in the new bank. The present bank building was erected in 1910.

The old Massasoit Bank had its organization June 2, 1846, and was opened for business in December of that year, with a capital of $50,000, which was increased the following March to $100,000, and in January, 1854, to $200,000. The first president was Jason H. Archer, the cashier was Leander Borden, and the directors were: Jason H. Archer, Oliver S. Hawes, Azariah Shove, Nathan Durfee, Henry Willard, Iram Smith, Benjamin Wardwell. Israel Buffinton succeeded Mr. Archer as president in 1852; Charles P. Stickney was president in 1864; Iram Smith in 1878; Bradford D. Davol in 1885; Charles M. Shove in 1890. In 1864 the bank was made a national institution. Leander Borden was succeeded as cashier by Eric W. Borden in 1881. The bank in 1846 had its headquarters at North Main and Franklin streets, and in 1876 it was at the northwest corner of Bedford street and Court square. In 1889 it erected the building later occupied by the Massasoit-Pocasset National Bank. These are the bank officials since consolidation: Charles M. Shove, president, elected 1903, reélected each year, still serving. Edward E. Hathaway, vice-president, elected 1903, served until his death, May 9, 1911. Thomas D. Covel, vice-president, elected 1903, reélected each year, still serving. Eric W. Borden, cashier, elected 1903, served until his death, May 18, 1921. John T. Burrell, assistant cashier, elected 1903; on account of severe illness, was not able to serve; he died February 1, 1904. Frank E. Westgate, note teller, elected assistant cashier September 10, 1912, elected cashier May 31, 1921. Augustus J. Wood, general teller, elected second assistant cashier Jan. 13, 1920; elected first assistant cashier June 7, 1921. Myron F. Bullock, note teller, elected second assistant cashier, June 7, 1921.

The incorporation of the Metacomet Bank took place in 1852-1853, with a capital stock of $400,000. Organization was in the following summer, with Jefferson Borden as president; Azariah S$. Tripp, cashier, and the following-named board of nine directors: Jefferson Borden, Nathan Durfee, William Lindsey, Philip D. Borden, Thomas J. Borden, Daniel Brown, William Carr, William Marvel, Joseph Crandall. Business was commenced in December, 1853, in the brick building, corner of Water and Pocasset streets. The capital was increased to $600,000 in 1854, and later reduced to $500,000, but in 1906 it was raised to $750,000. In February, 1865, the in- stitution became a national bank, when its headquarters were removed to the Borden block, on South Main and Pleasant streets. The present building was erected in 1888. Jefferson Borden was succeeded as president by William Lindsey in 1880; by Walter C. Durfee in 1886; by Frank S. Stevens in 1894; by Thomas J. Borden in 1898; by Simeon B. Chase in 1902. Azariah §. 'Tripp was succeeded as cashier by George H. Borden in 1888, and by Charles B. Cook in 1891. Milton Reed is vice-president. F. H. Borden was assistant cashier from 1914 to 1917; and he was succeeded by James D. Dearden, 1917 to 1922, and he by Nathan Chace. F. H. Borden was cashier from 1917 to 1922, and that position is now held by James D. Dearden. Arthur B. Derbyshire is also assistant cashier. This bank purchased the goodwill of the Second National Bank in February, 1903.

The B. M. C. Durfee Safe Deposit and Trust Company, chartered by an act of the Massachusetts Legislature in 1887, began business July 9, 1888, with a capital of $100,000. The capital of the company was soon increased, first to $200,000 and then to $400,000. The B. M. C. Durfee & Company banking house, formed by B. M. C. Durfee and John §S. Brayton as partners, was taken over by the company, John S. Brayton being president of the trust company until his death, in 1904. Arthur W. Allen was the first treasurer, and he was succeeded by I. F. Manchester, Jr. The bank is empowered to do a general banking business, act as trustee for estates and individuals, to be executor, administrator and guardian, and to receive and hold for safe-keeping moneys, papers and articles of value. The officers in 1923: President, John S. Brayton; vice-presidents: Thomas E. Brayton, John S. Brayton, Jr.; treasurer, I. F. Manchester, Jr.; assistant treasurer, James D. MacFarlane; trust officer, Arthur W. Allen; board of directors: Hon. James M. Morton, Hon. James M. Morton, Jr., James E. Osborn, Thomas E. Brayton, Frederick O. Dodge, Byron W. Anthony, William L. S. Brayton, Israel Brayton, John §. Brayton, Randall N. Durfee, William H. Jennings, John S. Brayton, Jr.

The Fall River Trust Company, chartered March 6, 1919, was opened for business January 1, 1920. The first officers were: President, Walter E. McLane; vice-presidents, James Sinclair and Michael Sweeney; treasurer, Samuel E. Robinson. James Sinclair was appointed president in 1923; the other officers remain the same. There is both a banking and a savings department, and a branch was opened at Flint Village May 1, 1922. The capital stock of the banking department is $200,000; the savings bank deposits, $1,337,678.67.

The Fall River Savings Bank is the third savings bank to be established in the United States, it having been preceded by that at Philadelphia and that at Boston. A charter was granted March 11, 1828, by which Oliver Chace, James Ford, Harvey Chace, Bradford Durfee, John C. Borden, Clark Shove and Hezekiah Battelle were constituted a corporation by the name of the Fall River Institution for Savings. Organization was effected by choice of Micah H. Ruggles as president; Harvey Chace, secretary; and the following-named board of eighteen trustees: David Anthony, Samuel Chace, Nathaniel B. Borden, John C. Borden, Harvey Chace, Joseph Gooding, James Ford, Bradford Durfee, Richard Borden, John S. Cotton, Clark Shove, Philip R. Bennett, Joseph C. Luther, Jesse Eddy, Enoch French, Hezekiah Battelle, Matthew C. Durfee, William H. Hawkins.

James Ford was elected treasurer, and Enoch French, David Anthony, Matthew C. Durfee, Jesse Eddy and Harvey Chace a board of investment. The bank was opened for business May 28, 1828, and on that day sixty-five dollars was deposited by four depositors. The present title, the Fall River Savings Bank, was adopted in April, 1855. The business of the bank was at first carried on in the office of James Ford, the treasurer, and it was removed in 1830 to the store of Hawkins & Fish, on the southeast corner of Main and Bedford streets. In 1841 the bank's headquarters were removed to a small building in the rear of the old postoffice, on Pocasset street. Thence it removed to the basement of Dr. Nathan Durfee's house, on North Main street. This house was burned in the 1843 fire, when it occupied the present quarters of the Five Cents Savings Bank, in the Mount Hope block, erected on the site of the former office. It removed to its present building in 1869. The bank formerly paid dividends running as high as eight per cent., and passed a dividend once only, in 1879, which was made up in 1882 by an extra dividend. There is more than fourteen million dollars due depositors. Mr. Ruggles was president of the bank until 1857, when he was succeeded by Nathaniel B. Borden, and he in 1865 by Job French. The next president was William Lindsey, who was followed in 1888 by A. S. Tripp, who died that year. Crawford E. Lindsey, elected in 1889, was followed in 1894 by Thomas J. Borden, and he in 1902 by Robert Henry. William H. Hawkins succeeded James Ford as treasurer, and he was followed, in 1833, by Henry H. Fish, and he in 1836 by Joseph F. Lindsey, who held that office more than forty years. In 1877, Charles A. Bassett, who for thirteen years had been cashier of the First National Bank, became treasurer. The officiary of the bank since 1906 follows:

1914 - Trustee George N. Durfee died Jan. 15, 1914. Trustee Robert Marshall resigned January, 1914. Trustee and President Robert Henry, also member of Board of Investment, died March 3, 1914. Trustee Edward B. Varney elected March 30, 1914. Trustee Col. Charles B. Woodman elected March 30, 1914. Trustee Charles B. Luther elected March 30, 1914. Henry C. Hawkins, vice-president, resigned March 30, 1914, and elected president same date. Trustee Charles B. Woodman elected a member of Board of Investment, March 30, 1914. Trustee Ferdinand H. Gifford died April 16, 1914. Israel P. Gardner elected assistant treasurer June 29, 1914. Trustee J. Edward geen elected Sept. 28, 1914. The title of secretary of board of trustees was changed to clerk, so from this date James N. Buffinton is clerk of the corporation and clerk of board of trustees. Col. Bradford D. Davol elected vice-president March 30, 1914.

1916 - Trustee and Treasurer Charles A. Bassett died Jan. 23, 1916. Israel P. Gardner, assistant treasurer, elected treasurer Feb. 14, 1916. Charles M. Freeborn elected assistant treasurer March 27, 1916. Israel P. Gardner elected a trustee June 26, 1916.

1918 - Trustee and President Henry C. Hawkins died Jan. 2, 1918. Col. Bradford D, Davol elected president Jan. 9, 1918. David J. Burdick elected vice-president Jan. 9, 1918. Thomas B. Bassett elected trustee Jan. 9, 1918.

1920 - Thomas B. Bassett elected member of Board of Investment Jan. 19, 1920. Charles M. Allen, trustee and member of Board of Investment, died Sept. 24, 1920. Francis O. Lathrop elected trustee Dec. 27, 1920.

1921 - Col. Charles B. Woodman, trustee and member of Board of Investment, died April 20, 1921. Henry H. Eddy elected a trustee May 11, 1921. Trustee Edward B. Varney elected member of Board of Investment, May 11, 1921.

1923 - David J. Burdick, trustee, vice-president and chairman of Board of Investment, died Feb. 23, 1923. Thomas B. Bassett elected chairman Board of Investment Feb. 27, 1923. Enoch J. French elected vice-president March 26, 1923. Henry H. Eddy elected a member of Board of Investment March 26, 1923. Alexander Makepeace elected a trustee March 26, 1923. Col. Bradford D. Davol, president and trustee, died April 22, 1923.

The Citizens' Savings Bank was organized November 15, 1851, by the election of Joseph Osborn, president; Charles F. Searle, secretary; William H. Brackett, treasurer; and a board of sixteen trustees: Cook Borden, Oliver Chace, Jr., Weaver Osborn, William C. Chapin and Samuel Hathaway were chosen as the board of investment. The bank was opened for business December 1, 1851, at the northeast corner of South Main and Rodman streets, and on that day the first deposit was made. In June, 1854, the bank was removed to the rooms occupied by the Pocasset Bank, in the southwest corner of the same building, in Tiverton, R. I, and there continued until the change in the boundary line between Rhode Island and Massachusetts, March 15, 1862, when it became a Massachusetts institution, under the name of the Citizens' Savings Bank. By an act of the General Assembly of Rhode Island, passed in 1856, the town of Tiverton was divided, and that part of the town where this bank was located was named Fall River, Rhode Island. On the first day of March, 1862, the town of Fall River, R. I., was annexed to and became a part of Fall River, Massachusetts, and the Citizens' Savings Bank, together with the Pocasset National Bank, removed to the northwest corner of the first floor of the City Hall. A new building of granite was built at the corner of Main and Bedford streets for a banking house and other purposes, and in 1873 the Citizens' Savings Bank, together with the Pocasset National Bank, was removed thither. In 1903 the building was purchased by the Citizens' Sayings Bank for its own purposes. In 1920 a part of the premises adjoining on the south, owned and occupied by the Union Savings Bank, was acquired, giving to the Citizens' Savings Bank ownership of one-half the entire Main street frontage between Bedford and Market streets. William H. Brackett resigned as treasurer in December, 1862, and was succeeded by Edward S. Hathaway. Upon the death of Mr. Hathaway, in 1911, William F. Winter was appointed treasurer, and was succeeded in 1919 by John T. Swift. When President John Osborn died, April 11, 1883, Linden Cook was elected president. Successive presidents have been: Danforth Horton to 1884, Joseph Healey to 1889, John C. Milne to 1918, Henry H. Earl. The deposits in this bank in 1923 amounted to $10,957,380.84.

The Fall River Five Cents Savings Bank was incorporated April 10, 1855, the incorporators being S. Angier Chace, Hale Remington, Walter C. Durfee, James Buffinton, E. P. Buffinton, B. H. Davis, Asa P. French, Alvan §. Ballard. The first dividend was paid in June, 1856, the bank being opened for business the first of the year. At the close of business May 26, 1923, there were 30,625 depositors, and there was then due them the sum of $11,965,087.98, the guaranty fund being $492,500. The bank's resources include $1,411,500 of United States certificates and treasury notes; $3,977,974.68 United States Liberty loan bonds; $2,365,996.25 railroad bonds. The bank building and equipment is valued at $190,000. At the date referred to this year, this bank held in safe keeping for 1802 depositors United States Liberty bonds, amounting to $258,400. President Chace was succeeded in 1878 by Walter C. Durfee, and in 1902 by Leontine Lincoln. Charles J. Holmes was treasurer from the time of the opening of the bank to the time of his death, February 26, 1906. The organization, in 1905, and since that time, follows:

1906 - Feb. 26, Charles J. Holmes, treasurer, died; March 17, Charles L. Holmes elected treasurer; Oct. 12, Richard B. Borden, vice-president, died; Dec. 1, Leontine Lincoln resigned as president and member of Board of Investment; Dec. 1, James Marshall elected president; Dec. 1, David F. Slade and George S$. Davol elected vicepresidents; Dec. 1, Oliver S. Hawes elected to Board of Investment.

1914 - June 28, David F. Slade, vice-president, died; Dec. 5, James Marshall resigned as president; George S. Davol elected president; Edward B. Jennings and Abner P. Davol elected vice-presidents.

1923 - April 14, William B. Lovell resigned as assistant treasurer; April 17, Frederick W. Watts and O. Elton Borden, elected assistant treasurers.

The Union Savings Bank was incorporated April 24, 1869, the incorporators being Gardner T. Dean, Edwin Shaw, Lafayette Nichols. The organization was as follows: President, Augustus Chace; secretary, James M. Morton, Jr.; treasurer, D. A. Chapin, with a board of twenty-five trustees and the following-named board of investment: Cook Borden, William B. Durfee, Gardner T. Dean, Lafayette Nichols, Alphonso Covel. The bank opened to receive deposits in the banking rooms of the National Union Bank, in the southwest corner of the market building, later City Hall. April 19, 1872, it was voted that the treasurer be authorized to fit up a banking room. (This is about the time that the bank moved from City Hall.) During 1898 a three-story office and bank building was built on the Main street site. In February, 1920, the bank purchased the present site, at the corner of South Main and Market streets, one of the most valuable locations in Fall River, and erected the present beautiful and spacious bank building of special design for banking only.

Officers: President. Augustus Chace, elected May 4, 1869, died March, 1886. President Benjamin Covel, elected May 26, 1886, resigned Nov. 7, 1888. President Andrew J. Borden, elected Nov. 7, 1888, died August, 1892; President Jerome C. Borden, elected Aug. 12, 1892; now serving. Treasurer Daniel A. Chapin, elected May 7, 1869, resigned Sept. 29, 1888. Treasurer Jerome C. Borden, elected Oct. 6, 1888, resigned Feb. 18, 1891. Treasurer Abraham G. Hart, elected Feb. 18, 1891, died Nov. 14,1907. 'Treasurer Adam W. Gifford, elected Nov. 29, 1907; now serving. The deposits in 1923 amounted to $8,485,223.53.

With its continuous history in this city since the year 1880, the Troy Co-Operative Bank has from the first been popular with working men and women of this section. This is the story of the institution that is one of the established banks of the city. The following-named subscribers to an agreement to the formation of a corporation to be styled the Troy Co- Operative Savings Fund and Loan Association held a meeting in the Troy building, Room 5, on June 15, 1880: Spencer Borden, Cyrus C. Rounseville, Jerome C. Borden, John M. Young, Albert F. Dow, Nathaniel B. Borden, and seventy-seven others. Thereupon the following-named officers were elected: President, Spencer Borden; vice-president, Albert F. Dow; secretary, Cyrus C. Rounseville; treasurer, Henry T. Buffinton, and eleven directors. At the first meeting of the board, held June 18, 1880, the security committee elected consisted of Arnold B. Sanford, Jerome C. Borden and Andrew J. Borden; and the finance committee: John M. Young, Charles B. Cook, Seth H. Wetherbee. At the first meeting, held for the purpose of issuing shares and receiving payment thereon, July 18, 1880, the sum of $328 was received. At the present time the receipts from payments on shares amount to over $50,000 each month, while the interest on the outstanding loans is about $15,000. At the present time the membership is over four thousand, over nine hundred of-whom are mortgagors and paying for the property that they have bought. The officers for 1923: President, Jerome C. Borden; vice-president, George H. Eddy; clerk and treasurer, Edward W. Bertenshaw.

The People's Co-Operative Bank was organized February 18, 1882, as the People's Co-Operative Saving Fund and Loan Association, the name being later changed to the People's Co-Operative Bank, in compliance with the State law. The first officers were: President, Milton Reed; vicepresident, James O'Neill; secretary, Samuel W. Brown; treasurer, Frederick O. Dodge. The board of directors consisted of Robert Howard, Charles E. Mills, Silas B. Hatch, Joseph Clifton, Edward S. Adams, John W. Whittaker, George Hanson, Edward A. Mott, John T. Robertson, Reuben Hargraves, John F. Hamlet, Peter Beeham, A. H. Martine, John H. Estes, Samuel Hyde. The bank was opened for business March 15, 1882, and for awhile business meetings were held at various offices of the members of the board. The bank eventually found permanent quarters in May, 1895, at 60 Bedford street. The presidents have been: Milton Reed, John H. Estes and Abner P. Davol. The assets in 1923 amounted to $616,578; the dues capital being $446,630, the profits capital $80,702.64, the surplus and guaranty fund $24,830.78. No one person may hold more than $2000 in shares. The officers in 1923: President, Abner P. Davol; vice-president, James Sinclair; treasurer, Charles H. Durfee; assistant treasurer, Nathaniel B. Durfee; board of directors: William H. Blanchette, Abner P. Davol, James Sinclair, Fenner C. Brownell, J. Edmund Estes, Michael Sweeney, James B. Clifton, Charles E. Mills, L. Elmer Wood; security committee: Fenner C. Brownell, Charles H. Durfee, Abner P. Davol, Michael Sweeney.

The Fall River Co-Operative Bank was organized November 10, 1888, by Arba N. Lincoln, Alfred H. Hood, George O. Lathrop, John Barlow and others. The first officers were John Barlow, president; Eric W. Borden, vice-president; George O. Lathrop, secretary; Rodolphus N. Allen, treasurer. The present officers are: Bradford D. Davol, president; George O. Lathrop, vice-president; Rodolphus N. Allen, treasurer; Annie E. Brownell, assistant treasurer. The present directors are: Enoch J. French, Clarence A. Brown, Clarence E. Bury, Edward B. Jennings, Jefferson Borden, Jr., John A. Pearson, Edward B. Lovell, Fred J. McLane, M. Richard Brown, Horace M. Hathaway, Robert W. Burrell, Sydney H. Borden, Richard G. Riley, Charles D. Davol, Ernest A. Lincoln, Preston H. Hood, J. William Grant, Carl K. Lincoln, and Frank E. Westgate. The number of shares in this bank to March, 1923, amounted to 50,561. The loans on real estate, $2,619,550; loans on shares, secured, $66,200; loans on matured shares, $2300.

The first series of the shares of the Lafayette Co-Operative Bank was issued May 2, 1894, the bank having been organized April 9, that year. The first president was Dr. J. B. Chagnon, who served until 1899, when he was succeeded by Pierre F. Peloquin. N. P. Berard was the first vicepresident of the bank, and John B. Huard chairman of the security committee, and associated with him were Nathan Miller and Phillippe A. Brousseau. William F. Winter was secretary-treasurer. The present officers are: President, Edmund Coté; vice-president, Charles E. Peloquin; treasurer, Samuel EF. Robinson. The board of directors: Arthur S. Phillips, Reuben C. Small, Nathan Miller, William Marshall, A. S. Furtado, James C. Brady, Joseph Menard, Amable Chouinard, Alfred H. Leeming, Oliva St. Denis, Hubert Legare, Elzear Fournier, Napoleon Tessier, William E. Fawcett. 'The bank's loans on real estate up to April 4, 1923, amounted to $1,225,500; loaned on shares, $27,550; dues capital was $989,824; profits capital, $176,199.62.

The Fall River Morris Plan Company was organized December 15, 1915, by local business men, under the supervision of the banking department of Massachusetts. 'The first president was Wendell Turner, and the first treasurer was Newton R. Gifford. Since the date of organization, loans have been made to 8926 individuals, amounting to $1,416,243.95. The members of the board of directors for 1923: Sydney H. Borden, J. C. Brady, Harry P. Brown, Vere Brown, Fenner A. Chase, Charles B. Cook, Edmund Coté, Charles D. Davol, George Delano, Edgar C. Durfee, Oliver S. Hawes, William B. Hawes, Charles L. Holmes, Michael T. Hudner,.Thomas E. Lahey, Francis O. Lathrop, George B. Lovell, Alexander Makepeace, Asa