Plymouth County, Massachusetts - Chapter 25: Banks, 1884

Thi: business of the town of Brockton had increased to such an extent, and the wants of the people were such, as to induce a few public-spirited individuals to petition the Legislature for a charter to do banking business, which was granted to Messrs. Bela Keith, Benjamin Kingman, and Jesse Perkins, JIarch 28, 1854, with a capital of one hundred thousand dollars, divided into shares of one hundred dollars each. The bank was organized under the name of the North Bridgewater Bank, with the following officers, namely: Martin Wales, of Stoughton, president; Ilufus P. Kingman, cashier; Benjamin Kingman, Frederick Howard, Chandler Sprague, William F. Brett, Ebcnezer Tucker, and Pardon Copeland, directors. In 1857, Mr. Brett resigned his office, and in ISGO, Elijah Howard, of Easton, was elected to fill the vacancy.

The first bills were issued from this institution Sept. 4, 1854. For some years it was in successful operation, and proved a valuable addition to the business facilities of the town, and a mark of the enterprise of her citizens. Previous to the establishment of this bank the business people, wishing banking accommodations, were obliged lo go out of town for the .same.

North Bridgewater Savings-Bank. - The beneficent spirit of the present age is in notiiing more remarkably displayed than in the combined energy with which individuals of the highest rank in society are laboring to promote the welfare of the lower order. The advantages that have arisen, both lo the individual contributors and the public, by those institutions have been great. The first attempt made to give eftect to a plan for enabling the laboring poor to provide support for themselves in sickne.-is, as well as old age, was in 1789. Again, in ISOS, a bill was introduced in the '' House of Commons" for promoting industry among the laboring classes, and for the relief of the poor, which was as follows :

" AVllKREAS, such of tlio laboring poor us ale 'loiroua ut' making out of their earnings some savings, us a future provision for themselves or their families, arc lUscourugcd from sO doing by the difficulty of placing out securely the small sums which they are able to save; and believing it would tend to promote habits of industry and frugality, and encoui-agc tho poor to makea provision for themselves and their families, if an establishment was formed in which they might iuveat their money with security and advantage."

These institutions are in general intended for that class of poor but industrious persons who deserve help by endeavoring to help themselves, the primary object not being for gain, but benevolence, and are for the benefit of the widow, the orphan, and the aged.

Many a penny that is now safely deposited in the vaults of these savings institutions in the country might have gone where the possessor would never have seen them again ; for this reason savings-banks are a great blessing to the communiiy.

In tlie city of Brockton there were individuals that looked to the interests of others as well ;is themselves, and having at the same time an eye to the interests of the community generally, they petitioned fur au act of incorporation as a savings-bank, which was granted to Messrs. Franklin Ames, Edward Southworth, and George B. Dunbar, April 24, 1851, under the name of the North Bridgewater Savings-Bank. The following were the officers of the institution at the time of its organization in 1851, namely: Cul. Edward Southworth, president; Franklin Ames, George B. Dunbar, vice-presidents ; Edward Southworth, Jr., secretary and treasurer ; Edward Southworth, Lorenzo D. Hervey, Henry V. French, Franklin Ames, Algernon S. Sylvester, Oukus S. Soulo, George B. Dunbar, Edward Southworth, Jr., trustees.

By the death of Edward Southworth, Jr., March 3, 1877, Rufus P. Kingman, Esq., was elected treasurer of the above bank, and after a careful examination into the condition of atfairs, it was found necessary to appoint receivers and close up the institution. On the 13th of November of that year, Ilufus P.

Kiiigniau, Esq., of Brockton, and EUia Ames, Esq., of Canton, were appointed by the Supreme Court to wind up the affairs, which has been done in a liighly creditable manner to the receivers as well as pleasing to the depositors, resulting in a series of dividends amounting to ninety-four and forty-six hundredth.s per cent.

Brockton Savings-Bank. - On the third day of March, 1881, the Legislature of Massachusetts incorporated the following persons into a savings-bank, viz. : J. J. Whipple, W. \V. Cross, Davis S. Packard, L. F. Severance, E. H. Joslyn, D. S. Volman, Henry A. Ford, Henry E. Lincoln, George E. Freeman, Ziba C. Keith, George E. Keith, Loring W. Puffer, B. 0. Caldwell, Sanford Winter, H. H. Packard, their associates and successors, were made a corporation by the name of the Brockton Savings-Bank, located in the city of Brockton. They commenced business May 1, 1881, with the following oflBcers : President, Sanford Winter; Vice-Presidents, John J. Whipple, Ziba C. Keith ; Treasurer, Clarence R. Fillebrowu ; Trustees, Sanford Winter, John J. Whipple, Ziba C. Keith, William W. Cross, Henry A. Ford, George E. Keith, George E. Freeman, Lorenzo F. Severance, Patrick Gilniore, Rev. Thomas B. McNulty, David S. Packard, Sumner A. Hayward, Gardner J. Kingman, Bradford E. Jones, Charles W. Sumner, Eliaha H. Joblyn, Henry H. Packard ; Board of Investment, Davis S. Packard, Sumner A. Hayward, Bradford E. Jones, Gardner J. Kingman, John J. Whipple.

The officers for 1884 are John J. Whipple, president; Ziba C. Keith and Bradford E. Jones, vicepresidents ; Enos H. Reynolds, in place of Sumner A. Hayward, deceased, - otherwise the same as at the commencement.

Security Co-operative Bank. - This organization was chartered as the " Security Savings Fund and Loan Association of Brockton." The title was changed by law in 1883. The original officers were as follows : Baalis Sanford, Jr., president ; Henry H. Packard, Francis B. Washburn, and Otia F. Curtis, vice-presidents; Daniel S. Howard, Lorenzo F. Severance, Bradford E. Jones, William H. Tobey, H. Herbert Howard, Embert Howard, William H. Savage, Leonard C. Stetson, Sanford Winter, Emerson Goldthwait, John 0. Emerson, John J. Whipple, Benjamin 0. Caldwell, James H. Cooper, Augustu.s B. Loring, Harry O. Thomas, directors. William W. Cross, secretary; Charles D. Fullerton, treasurer ; Gorham B. Howard, George H. Fullerton, Albert H. Fuller, auditors; Hamilton L. Gibbs, attorney.

The president of this association from its organization to 1883, Albert Keith, one of the leading and honored citizens of Campello, was born in that village Dec. 31, 1823. He is the son of Arza and Marcia (Kingman) Keith. His mother was the daughter of Abel Kingman, Esq., who was commissioned justice of the peace Feb. 22, 1811. The subject of this sketch is descended from Rev. James Keith, the first ordained minister of Bridgewater, the line of descent being as follows : Timothy", Timothy-', Levi^, Benj.', Arza', Albert'.

Arza Keith was one of the first shoe manufacturers in this town, and with him young Albert worked until about seventeen years of age, when he went to Foxboro', and entered the store of Otis Cary as clerk, where he remained five years. He then went into the mercantile business on hia own account at Attleboro', which he conducted until 1851, when he sold out, and, returning to his native town, formed a copartnership with bis brother, Arza B., in the shoe manufacture, and in the following year their factory was erected. Mr. Keith continued in this branch of business until 1871, when he disposed of his interest to his brother, and from that time until 1882 was engaged in the coal and grain trade. Mr. Keith's success has been largely due to his energy, industry, and determination, coupled with good judgment and clear business foresight. He has been especially active in adviincin<; the interests of Campello, and has labored industriously to that end. He was appointed postmaster at Campello in 1873, and has held the office to tiie present time. He was selectman one year, member of the school board seven years, assessor two years, and was commissioned justice of the peace in 187-1, a position he still holds. He also represented the town in the General Court in 1880 and 1881. Upon the or;;anizatioii of the Co-operative Bank at Campello, in 1877, Mr. Keith was chosen its president, and continued in that capacity until 1883. He is Republican in politics.

In 1842 he became a member of the South Congregational Church, and lias been prominently identified with it since, aervin-^ on the committee twelve years, and for ten years officiated as superintendent of the Sunday-school.

April 1, 1847, Mr. Keith united in marriage with Charlotte Pearce, of Atlleboro', and their family consisted of five children, - Marcia Adelaide (deceased), Alice Maria, Herbert (deceased), Charlotte R., and Lillian M. Mrs. Keith died May 29, 1874 ; and July 14, 1875, be married Cynthia Bonney, of Hudley, Mass., who died Feb. 12, 1876. March 13, 1878, Mr. Keitli united in marriage with his present wife, Mrs. Susan J. Allen, of Springville, N. Y.

Home Ifational Bank. - Prior to 1874 there had been no National Bank in the city. Feeling the necessity of increased facilities for banking accommodations, the Home National Bank was chartered, and its existence authorized on June 8th of that year. Its first officers were Rufus P. Kingman, president, C. D. Fullerton, cashier. Its authorized capital was placed at 8200,000. There have been but few changes in its officers, Mr. Kingman retaining the presidency to the present time (1884). Fred B. Howard is its cashier. Its location is corner Main and Church Streets.

Probably no living resident has been more active in contributing to the advancement of the interests of Brockton, or more closely connected with its success, than Rufus P. Kingman, Esq., the president of the Home National Bank.

Rufus Packard Kingman is the son of Benjamin and Rebecca (Packard) Kingman, born in North Bridgewater (now Brockton), Mass., Nov. 4, 1821, and is in the seventh generation in a direct line from Henry and Joanna Kingman, who came from Weymouth, England, in 1635, and settled in Weymouth, Ma:^s. His education was in the schools of his native town, and under the private instruction of Mrs. Nathan Jones, Miss Julia Perry, Deacon Heman

Packard, and Jonathan Coe. At the age of twelve years he entered upon the duties incident to life in a hotel, his father then being the only hotel-keeper in the town, which was from 1833 to 1837. Soon after this time, upon the retirement of his father from the hotel, he assisted in conducting his father's farm till he arrived at the age of eighteen. lu 1840 he entered the dry-goods and variety store of William F. Brett, then the leading store in the town, which was in the hotel building, where " Washburn's block" now stands. Here he reniained till l84tj, when he became a partner in the business, under the firm-name of Brett & Kingman, giving his entire time and energy to the business till 1854, at which time he retired on account of feeble health.

It was while engaged in the above business, in 1850, that Mr. Kingman erected the first brick block in the city, on the lot adjoining the hole! on Main Street, known as " Kingman's block."

During the year 1854, shortly after his retirement from the store, the first bank in the town was organized, and Mr. Kingman was called to the position of cashier. In this he remained till the new banking law of the United States came into operation, which required a two-thirds vote of the stockholders to change it into a national bank. Failing to obtain the required vote, the bank closed its doors in 1866.

While acting as cashier, the town showed their confidence in Mr. Kingman by electing him to the office of treasurer in 1856, and their confidence in him was renewed for nine successive years, when he retired. In 1872 he was elected assessor of town taxes, and reelected in 1873 - 74. In 1874 the business of the town had become so extensive that the wants of her many merchants and manufacturers were such that they felt a pressing need of banking facilities, and a new bank was chartered under the national banking law by the name of the Home National Bank, and Mr. Kingman was elected its first president, which position he now fills with honor to himself and for the interest of the stockholders.

Upon the death of Hon. Edward Southworth, in 1876, Mr Kingman was appointed treasurer of the North Bridgewater Savings-Bank, and after a careful examination into the condition of the atfairs of the bank, it was thought best to wind up its business. Accordingly Mr. Kingman and Ellis Ames, Es(|., of Canton, were appointed by the Supreme Court of Mas.sachu8etts as receivers to close the same, which, under their judicious management, has been able to pay the depositors 94iVj per cent.

town, and was prominent in arranjjing the affairs for the incoming of the new city ijoverniuent. During the year ISSl, when the town of Brockton took on the robes of a city, Mr. Kingman was elected alderman of Ward Two, and upon the organization of that board he was made president of the same, which position he now holds, very much to his credit ; and his liaviiig been elected from the first to the same position, without opposition, speaks for itself Upon the death of his father, April 13, 1870, Mr. Kingman was immediately appointed to succeed him as the agent of the Hiugham Mutual Fire Insurance Company, and afterwards, in 1871, was elected a director of the same.

Upon the establishment of the North Bridgewater Board of Trade, Mr. Kingman was elected director, and in 187-1 he was one of the corporate members of Brockton Agricultural Society, and was chosen one of the first directors, and for two years treasurer of the society, and is now vice-president of the same.

As a man, Mr. Kingman is plain, honest, straightforward, firm, and decided when decision is needed; a pei-son of excellent judgment in all matters of business, and his large experience in financial affairs in which he has been so successful for himself has shown him to be the right kind of a man to be in the councils of the city government. He has no ambition for public honor nor notoriety, and never active in the strifes of political life, although he is ever ready by his vote to promote the public good. In politics he has been a firm Whig as well as Republican, and belongs to a family well known for their being prominent in all affairs of a local nature. Mr. Kingman has often been intrusted with matters of great importance, where honesty and integrity is needed, and has never been found wanting.

In his private life he is most genial and interesting, fond of company, possessing no small share of wit, always cheerful and buoyant, and is quick at repartee; naturally fond of home, he is the life of the social circle, tender and affectionate.

Brockton National Bank. - The Brockton National Bank was organized in 1881, and was incorporated witli a capital of one hundred thousand dollars. Davis S. Packard was its first president, and C. R. Fillebrown its first cashier. They are the present incumbents of their respective ofiices. The first board of directors were Davis S. Packard, president ;

William W. Cross, vice-president ; Henry E. Lincoln, John J. Whipple, Sumner A. Hayward, George E. Keith, Ziba C. Keith, Charles W. Sumner, James C. Leach, I. N. Nutter, Gardner J. Kingman. Its location is in the City Block on Main Street.

The president of the Brockton National Bank is Davis S. Packard, one of the leading manufacturers j and business men of Brockton, and was born here 1 June 24, 182G. He attended the common schools of i his native town, and at an early age commeuced the I business of a boot-maker, which honorable vocation he followed with close application until 1S58, when in company with Aberdeen Keith, he commenced the manufacture of boot- and shoe-counters under the firm-name of Keith & Packard. This copartnership continued until 187G, when Mr. Packard purchased the interest of Mr. Keith, and conducted the business as sole proprietor until 1879, when he associated with him Veramus Filoon and Abbott W. Packard, under the firm-name of D. S. Packard & Co. The growth of tliis manufacture, of which Mr. Packard has ever been the moving spirit, has been almost phenomenal. From a product the first year amounting to about ten thousand dollars, the business has increased until at the present time the annual product amounts to two hundred and fifty thousand dollars ; and where only about five persons were employed in the beginning, the pay-roll now shows twenty-five. This is one of the representative institutions of Brockton, and its success is largely due to the clear business foresight and executive ability of Davis S. Packard. Other interests also have received Mr. Packard's attention, and profited by his excellent judgment. Upon the organization of the Brockton National Bank, in February, 1881, he was made its president, and has remained in that capacity to the present time. He is also a trustee in the Brockton Savings- Bank, and president of the Board of Investment.

While Mr. Packard has been actively engaged in the management of large business interests, he has never shrank from the duties of citizenship, and has served his town and city faithfully and well, and discharged the duties of the various positions to which he has been called to the entire satisfaction of his fellow-citizens. He was selectman in 1875, 1870, 1878, and represented the city in the State Legislature in 1881 and 1882; and on April 8, 1884, was elected a commissioner of the sinking fund.

In 1S70, Mr. Packard married Emma S. Gurney, a native of Arlington, Mass., and their chilJren are as follows: Sumner T., born July 4, 1874; Rulli B., born March 9, 1876; and P^uuia S., burn May 16, 1880. Mrs. Packard died June 4, 1880.

The Packard family is one of the most ancient and liouorabie in the comniunweallh. Davis S. Packard traces his ancestry to Samuel Packard, who came from Windham near Iliugham, England, in the ship " Diligence." He first settled in Hingham, Mass., in 1G3S, and from thence removed to West Bridgowater. All of this name who have gone from the Bridgewaters were doubtless descendants of liis, and nearly all of the name in this country can be traced to that place. The line of descent from Samuel is as follows : Zaccheus, Capt. Abiel, Thomas, Capt. Parmenas, Appollos, and Davis S.