Suffolk County, Massachusetts - The whole text, 1894 (part 8 of 17)

The bank resumed business in the second storj' of the furniture warehouse then occupied by Haley, Morse 8z Boyden, on Washington street, opposite the Globe Theatre. Notice was at once given of the condition of the bank and of the necessity for every one interested to assist the bank in reaching a conclusion whether it could continue business as a bank or not. The amount of discounted notes that the bank had on the night of the fire in its vaults, according to a statement made subsequently by

Jeremy Drake, the venerable cashier of the bank, was about $1,400,000. Packages of discounted notes to the amount of $<S50,000 were from time to time examined and deciphered by experts in the Treasury Department at Washington. Depositors were requested to brins^- in tlicir deposit books and to show by their cash books, check books, checks or otherwise, what they had drawn and how their accoimts stood, and duplicate notes were taken from merchants who showed that paper had been discounted for them at the bank, and by this and such other means as were at the bank's disposal the condition of the bank was reached. It certainly is one of the highest proofs of the integrity of the merchants of Boston in the hour of their dread calamity that when the statements were finally concluded and the bank was able to determine what the loss probably had been, the amount was figured at the nominal sum of $6,000, and even this was attributed not to the suppression of known facts but to the inability of merchants, because of the destruction of their own books and papers, to know accuratelv about their notes. All of the bank's customers loyally came to its assistance, and many a one, as he gave duplicates of notes that he had discounted, said, " I have no idea whether I shall ever be able to pay these notes, for my property is in ashes, but here is the evidence of them for the bank, whatever may be in store for me."

On Decoration Day, Friday, the oOth day of May, 1873, a fire again dcstro3'ed the building in which the Freemans Bank was located. A conspicuous sight to a passer down Washington street after that fire was the vault of the bank standing upright on its own foundation and unharmed either by falling walls or by fire. When the safe was cooled the contents were found uninjured. After this fire the bank moved into the Sears Building, corner of Court and Washington streets, where the first meeting of the directors was held on the 1st day of June, 1873. In January following the Freemans Bank moved to 2(54 Devonshire street, where it remained until 1877, when it removed again to the Church Green Building, which had been erected on the site of the old building.

The first president of the Freemans Bank was Andrew Drake, who served until his death in 1843, a term of seven years. The second president was Solomon Piper, who served froni that time till his death in the autumn of 1800, a period of twenty-three years. The third president was John H. Rogers, who served from 1806 till 1887, when he resigned after a period of twenty-one years as president and after having served faithfully and well as director and president for over fifty years. The fourth president, William A. Rust, has served from 1887 to the present time.

Mr. Jeremy Drake was the first cashier of the bank. He was chosen in 18:5() and served without intermission till his death in October, 1878, a period of about forty-two years. He was succeeded by Edward S. Hayward, who served as ca.shier till 1884, when he resigned. Mr. George P. Tenney was then elected and has served up to the present time, a period of about eight years.

The present oflficers and directors are as follows: President, William A. Rust; cashier, George P. Tenney; directors: Henry M. Rogers, Edmund S. Clark, John W. Kennan, Kilby Page, James Pierce, Solomon Piper vStratton, Albert E. Harding.

The condition of the Freemans National Bank at the close of business March G, 1893, as reported to the comptroller of the currency, was as follows :

Mechanics' National Bank

The Mechanics' National Bank was originally incorporated as a State Bank in lSo<>, with a capital of $150,000, which has since been increased to $350,000. The original directors were: Noah Brooks, Charles Cole, jr., Timothy Abbott, Thomas R. Dascomb, David Nickerson, John B. Rtissell, James W. Converse, John Leach, Solon Jenkins, Cranston Howe and Charles Lane. Samuel Goodridge was its first president and Alvan Simonds the first cashier. In 1805 the bank was organized under the National Banking act. C. O. L. Dilloway, the present president, has been connected with the bank for nearly thirty years. Francis James is vice-president and Samuel A. Merrill cashier. Since its organization this bank has never failed to pay to its stockholders a semiannual dividend ; has always pursued a careful and conservative policy, and endeavored to help maintain the splendid reputation always held by Boston banks. The board of directors for 1893 is as follows: C. O. L. Dilloway, W. M. Bush, M. M. Cunniff, W. E. L. Dilloway, Zenas Sears, L. G. Burnham, Francis James and George B. Clapp.

The financial condition of this bank, as reported to the comptroller of the currency at the close of business, March G, 1893, was as follows:

Shawmut National Bank

In May, is;3(), tlie Warren Bank wa.s organized. Its name was chang-ed by legislative act to the Shawmut Bank in April, 18157, at which time the capital was increased from the original sum of $350,- 000 to $750,01)0. It remained a State bank until April, 1864, when it was reorganized nnder its present title of the Shawmut National Bank. Five years later, in 18(!9, its capital was increased to its pi^esent sum of $1,000,000. The original board of directors wascomposed of Benjamin T. Reed, Albert Fearing, John L. Dimmock, Josiah Reed, Gardner Brewer, John Gardner, Jairus B. Lincoln, Horace vScudder, Nathaniel Dana, Aaron Rice and William Bramhall. No one of this original board is now living; the last survivor, John Gardner, died a few years ago.

Benjamin T. Reed, the first president of the bank, a well known and highly esteemed gentleman, resigned the office in 1848, having served twelve years. He was succeeded by John Gardner, who served till 1853, when Albert Fearing was chosen president. The latter held the office for one year, and was then succeeded by William Bramhall, seniijr member of the highly successful firm of Bramhall & Howe, shipping merchants. Mr. Bramhall continued in office for fourteen years, resigning in 1868 on account of failing health. His successor, Hon. John Cummings, has served as president from that time to the present. Mr. Cummings has been prominently identified wnth the Massachusetts Institute of Technology, having been its treasurer for many years, and has done much for the education of youth. He has been a large manufacturer of leather, and is an expert in that line. He was one of the judges at the Centennial Exposition as well as one of the board of finance. For several years he was president of the Commercial Club. Sonic twenty years ago he served as State senator and is

Thomas Brown, the first cashier of the Shawraut Banlc, served from 18;]ii to 184G, and was succeeded by Stephen G, Davis; who remained cashier until 1870, a period of thirty years. James P. Stearns, who succeeded Mr. Davis, is still serving in this capacity. J. G. Taft, the assistant cashier, has been connected with the bank for thirty-seven years. The second assistant cashier is Frank H. Barbour.

The directors of the bank, besides Mr. Cummings, are at present: Prentiss W. Scudder, formerly of the firm of Danforth Scudder & Company, wholesale grocers, and now the oldest director in point of service, having been elected in 1800; Hon. Edward D. Hayden, recently member of Congress; William Basset, of the banking hou.se of Bas.set, Whitney & Company; Moses N. Arnold, extensive shoe manufacturer at Nortli Abington; George M. Coburn and Micajah P. Clough, in the boot and shoe business; William P. Spaulding, member of the well known firm of Noah vSpaulding & Company, sugar refiners; and James P. Stearns, the cashier.

The location of the bank has been changed several times. It was originally at 16 State street; in 1S37 removed to 92 State street, and in 181:4: to No. 43 State street. In 1874 it was removed to No. (in Congress street, corner of Water, where it has since remained with the exception of a temporary change to 4:1 State street during the rebuilding after the great Boston fire.

The Shawmut Bank is a designated repository for the public moneys, and the postal notes and money orders are redeemed by it through the Clearing-house. It has the largest circulation of any bank in Boston, and is known as one of the active and progres.sive banks of the city. Since its organization as a national bank in 1864:, it has paid in dividends $1,800,000.

Boylston National Bank

The Boylston Bank was incorporated under an act of the Legislature of the Commonwealth of Massachusetts, Chapter 125, passed to be enacted March i;? and 1-1, 1845. The original corporators were Joseph H. Hayward, John Redman and Josiah Vose, their associates and successors.

the acceptance of the charter, also for the choice of directors and sucli other business as might legally come before them. The meeting was called to order by Col. Thomas Himting; Warren White was chosen chairman, and Amos Cummings clerk. It was voted unanimously to accept the charter. It was also voted that the number of directors should be twelve. The canvassers nominated by the chair, Artemas Simonds, Ephraim Harrington and Henry K. Hancock, were chosen by the meeting.

On motion of William Pai^ker, a committee of five, consisting of William Parker, William Brigham, Matthew S. Parker, Jonathan Ellis and William Pope, was appointed to draft by-laws and report at the adjourned meeting, June 24, at which meeting the by-laws were reported and unanimously adopted.

At a meeting of the directors held June 3, 1845, William Parker was elected president. The following gentlemen were chosen a committee to inquire and report as to the most eligible place for a banking house : Warren White, Ruel Baker, Timothy Gilbert and William Parker.

At a meeting held November 3, a committee on hills, appointed June 3, made their report, and it was voted that the committee be authorized to procure the plates for bills of the following denominations: ones, twos, fives and tens. Twenties, fifties, hundreds and five hundreds were also issued, and a plate for threes was voted May 14, 1852. At a meeting held November 8, it was voted that the committee on location be authorized to contract for a banking room in one of the three following- named buildings: D. C. Moseley's, corner of Washington and Boylston streets; John Redman's, corner of Essex and Washington streets; and J. M. Dexter's new granite block, Washington street, ncarl)- opposite Essex street. Mr. Jonathan Ellis was added to the committee. At a meeting held November 11, on motion of Mr. Ellis it was voted that Mr. Warren White and Col. Ruel Baker be authorized to make a contract with Mr. John Redman for the room for a location of the bank at the corner of Essex street. The president was added to the committee. At a meeting held November 13 this vote was reconsidered, and on motion of Mr. Emery it was voted unanimously that the committee be instructed to make a bargain with Mr. David C. Moseley. On the 11th of November Warren White and Thomas Hunting were appointed a committee to purchase furniture for the bank, and Col. Ruel Baker was authorized to procure and paint the signs.

On December 33 the commissioners appointed by Governor George N. Briggs to examine the specie in the vaults - Samuel H. Walley, John G. Palfrey and Henry Jacques - after weighing and examining the specie, administered the prescribed oath to the directors. vSubsequently a committee which had been authorized to make a contract with the Suffolk Bank, recommended that the Boylston Bank should join in the arrangement with other banks of Boston for the redemption of country bank bills by making the usual deposit of $5,000 in the Suf-, folk Bank, and they stated that in consideration of an additional deposit of $1,000 the Suffolk Bank had agreed to receive all bills and checks on , other banks in this city which might be received by the Boylston Bank on deposit and in exchange for its own bills. This report was approved and accepted.

The bank commenced business on Wednesday, December 24, 1845, in its rooms leased of David C. Moseley, at the north corner of Boylston and Washington streets. The economy of the directors is shown by the pa.ssage of a vote December 29, 1846 - more than a year after the bank started - appointing Messrs. Baker and Parker a committee to procure cushions for the chairs in the directors' room. The directors probably concluded that the bank had attained so firm a standing that they were entitled to more comfortable sittings.

Elected, Other Directors

William Parker, the first president, was elected June 3, 1845. He was born November 7, 1793, and was the son of Rt. Rev. vSamuel Parker, Bishop of Massachusetts (Episcopal). He was a lawyer by profession and was an alderman of the city of Boston in the years 1842, '43, '45, '40 and '47. He held the office of president until Januarj^ C, 1855, when he resigned, as he was to take a trip to Europe the last of March to be absent about six months. He continued to serve as a director. Col. William Pope, of the firm of William Pope & Sons, lumber dealers. No. -280 Harrison avenue, and an alderman of the city of Boston in the years 1845, '46, '48 and '49, was elected president January 9, 1855. He declined to serve, it being his intention to be absent much during the winter and spring. Timothy Gilbert, who was then elected president, was a piano manufacturer at No. 058 Washington street, as now numbered, being part of the premises now occupied by John H. Pray, Sons & Co. He was one of the chief promoters of the Tremont Temple enterprise, and an early and firm friend of the anti-slavery cause. He served to October 11, 1861. He died July 12, 1805, in the sixty-ninth year of his age. Amos Cummin gs was elected president October 11, 1861. He was a grocer and at different times occupied stores at north corner of Essex and Washington streets, north corner of Chickering Place and Washington street, and at No. 20 Summer street.

Duncan McB. Thaxter, of Fairhaven, was elected cashier November 20, 1845, and served to May 1, 1848. He died in Somerville, August 28, 1888, in the ninety-second year of his age. His successor was John J. vSoren, previously teller of the Washington Bank for about twent}'- three years. Luther Blodgett was elected messenger November 20, 1845, and served until he resigned, April 1, 1854. January 13, 184(i, Mr. Skilton was employed as a clerk, serving about two months. Frederick L. Church was elected bookkeeper from July 1, 1840, and served until his resignation, November 1, 1848. Daniel E. Snow was book- keeper from November 1, 184S, until he resigned, July 1, 1850. Dependence S. Waterman, who entered the bank as assistant to the cashier January 24, 1840, was elected bookkeeper July 1, 1850. Charles W. Snow was elected clerk March in, 18()4, and was elected messenger June 11, 1864. Edward A. Church was elected clerk and general assistant June 11, 1804.

The Boylston Bank under its vState charter paid thirty-eight dividends amounting to $541,250, including an extra dividend May 1, 1853, of six per cent., amounting to $15,000.

The Boylston National Bank of Boston, successor to the Boylston Bank, was organized under act of Congress, approved June 3, 18(14, by certificate of authority of the comptroller of the currenc}', October 24, 1804, organization No. 545. Attention is directed to the coincidence that the act was passed just nineteen years after the first meeting of the stockholders of the Boylston Bank. The bank commenced business on Thursday, December 1, 1804, in the rooms formerly occupied by the Boylston Bank, and remained there until its temporary removal at close of business, Saturday, February 28, 1874, to rooms on the north corner of Beach and Washington streets. On this site formerly stood a one-story stone building of Grecian style of architecture, which was occupied by the Washington Bank when it commenced business in 1825, Mr. Soren being its teller. The bank removed from its temporary quarters about July 1, 1874, to its present location, the north corner of Essex and Washington streets.

Of the original directors, after organization under the National Banking act, William Parker served until his decease, October 29, 1873, nearly eighty years of age; Amos Cumniings till his death, April 24, 1808, in his seventieth year; Thomas Upham till January 11, 1870; Luther Blodgett till his decease, August 18, 1874, nearly eighty years of age; William Brown till his death, February 10, 1875, in his seventieth year.

Of the present directors Joseph T. Bailey and Edwin Pope have served since 1865; Charles Cummings was elected January 12, 1800; Atherton T. Brown, March 24, 1875; Charles Torrey, March 24, 1875; George H. Green, May 19, 1877; Frank J. Coburn, April 15, 1891; George W. Coburn served as director from December 28, 1877, till his death, April 2, 1890, in his sixtieth year.

Amos Cumminos was the first president and served until his decease, April 24, lS(i8, in the seventieth year of his age. Joseph T. Bailey was elected president May IIS, 1808. He .was successively a member of the firms of Bailey & Jenkins; Bailey, Jenkins & Garrison; and Williams & Coburn, wool merchants. No. 105 Federal street; served as a trustee of the Massachusetts Charitable Mechanic Association for the years 1859, 1800 and 1801, and was its president for the years 1SC.4, 1805, and 1800. It was during his administration that the tenth exhibition of the association took place. He was an alderman of the city of Boston for the years 1859, 1800 and 1801. William Parker, esq., acted as president/;';? tcin. daring the illness of President Bailey from December, 1808, to April, 1809, and during his absence abroad from July to the latter part of October, 18?0. Charles Torrey, of the firms of Bowker, Torrey & Company, No. 118 Portland street, and Torreys & Company, No. 09 Beverly street, marble and granite dealers, was elected vice-president May 0, 1891.

John J. Soren was the first cashier. He served to October 18, 1875, making his time of service in the Washington, Boylston and Boylston National Banks a little more than fifty years. He died February -20, 1889, aged eighty-five years and four months. Dependence vS. Waterman was the bookkeeper until October 18, 1875, when he was elected cashier. He has been connected with the Boylston and Boylston National Banks forty-four years. Edward A. Church, clerk and general assistant, was elected messenger and as.sistant discount clerk November 7, 1808. He was elected bookkeeper October 18, 1875, and was appointed assistant cashier from April 2, 1888. Charles W. Snow, then messenger, was elected receiving teller November 7, 1808. He performed the duties of the paying teller for about five months during the illness of that officer, imtil May 2-4, 1884, when he was elected paying teller. Joseph T. Bailey 3d entered the bank as messenger in February, 1879, and became second bookkeeper June 1, 1881. He was elected receiving teller May 24, 1884, having served in that office about five months previous to his election. Herbert B. Bailey entered the bank as second bookkeeper December 12, 1883. Allen B. Davenport was elected assistant to the receiving teller from July 27, 1885, and was elected third bookkeeper from Januar}- 1, 1889. John W. Bailey came to the bank as messenger June 1, 1881, and became collection clerk August 1, 1885. Walter B. Ellis came to the bank as clerk December 1, 1882, and became the messenger August 1, 1885. George

W. Wright was elected clerk January 1, I8SI1, and became assistant to the receiving teller June 24, 1889. Charles W. Bailey entered the bank as clerk June U, 1889.

The bank has been happily free from the evils resulting from forgeries and defalcations, nor has it refused specie payments except in those few periods when they were refused by the other Boston banks.

However, in the autumn of 18()9 a robbery was perpetrated which was remarkable in many respects. A month previous a person calling himself William A. Judson hired a room in the next building to the bank in the rear of its safe for the pretended business of selling California wine bitters. On Saturday, November 20, 1809, the safe was closed with everything in its usual condition of supposed security. But on the next Monday morning on opening the safe a robbery was discovered. From the room in the adjoining building the brick wall next to the safe had been removed, A series of holes two inches in diameter had been drilled, making an opening nearly in the form of a circle through the iron wall of the outer safe, large enough to admit a boy or a very slender man. Upon shelves in the outer safe were some thirty small trunks left for safe keeping at the risk of the owners. These were taken through the opening and their contents, consisting of money and coupon bonds, largely United States bonds, of the value of aboiit $300,000, were removed. The robbers escaped with their plunder. It is quite certain that the burglars were Charles Bullard, "Ike" Marsh, Adam Worth and "Billy" Cochrane. In Ma)', 1871, William A. Glover was arraigned for being accessory before the fact to the breaking and entering. But on his trial the jury disagreed. On his second trial, January, 1872, the jury brought in a verdict of guilty. Exceptions were filed and were admitted and sent to the Supreme Court, where they were overruled. His sentence was further delayed by amotion for anew trial, which was also overruled, and he was sentenced March 30, 1874, to twelve years' imprisonment and one day solitary in the State Prison at Charlestown. After being in prison some two and a half 3'ears, Glover was thought to be in consumption, and on that account, and having been kept in jail nearly three years before his sentence, combined with the fact that he was adjudged <;uiUv mostly upon the evidence of one witness, he was pardoned November 'I'.], 187(1. Bullard, who with his companions in crime fled to Europe soon after the robbery, married an English woman, and went to Paris, where he started an American gambling house. He afterwards returned to this country, was arrested, and arraigned as Charles Bullard, alias James P. Wells, alias William A. Judson, September 17, 1874. He pleaded not guilty and was held in $100,000, and for default in furnishing sureties was committed to jail. On November IS following he pleaded guilty, and was sentenced to twenty years' imprisonment and four days' solitar}- imprisonment in the State Prison at Charlestown. He was transferred to the State Prison at Concord in May, 1878, but escaped in September following. One $1,000 bond dropped in the room hired by the robbers, and one other $1,000 bond, obtained after some litigation, was all that was recovered of the stolen property. The loss to the bank was only a few hundred dollars, but to some of the depositors the loss was heavy and severe.

During its existence as a national bank, the Boylston Bank has paid fifty-seven dividends, amounting to $1,404,500, and a stock dividend of twenty-five per cent. April 1, 1865, amounting to $100,000.

The condition of the Boylston National Bank, as reported to the comptroller of the currency at the close of business March (i, 1803, was as follows :

National Exchange Bank

The Exchange Bank, nuw known as the National Exchange Bank, wa.s chartered April r2, 1S47. The incorporators named in the act were .Solomon R. Spaulding, J. B. Kimball and Alexander Strong. The capital was fixed at $500,000, and the charter to continue until October 1, 1851. Its capital was increased to $1,000,(JOO in 1851, and has since remained unchanged.

The first meeting of the stockholders was held Ma}* 1, 1.S47, at the old Exchange Coffee House, when l,19;j votes were cast for the following first board of directors: George W. Thayer, S. R. Spaulding, John B. Kimball, Alexander Strong, John G. Davis, Israel C. Rice, Samuel Bates, jr., John Foster, Peter Frothingham, Williatn H. Dunbar, Daniel C. Baker and Sampson Reed. At the meeting of the directors held the same day, George W. Tha)'er was elected president. The following additional officers wore subsequently chosen: J. M. March, cashier; J. M. Pettengill, teller; J. Mitchell, bookkeeper; John T. Bouvc, discount clerk; Benjamin V. French, jr., assistant bookkeeper, and Frederick S. Davis, general clerk.

This institution became the National Exchange Bank September l!i, ISiU, with a capital of $l,()()0,()()n. The first board of directors after it became a national bank was composed of John (i. Davis, Francis Dane, William H. Dunbar, John Foster, J. B. Kimball, Alexander Strong, Sampson Reed, Solomon R. Spaulding and George W. Haj^es.

Tlie presidents of the Exchange Bank have been as follows; George \V. Thayer, from May 4, 1847, till his decease February 1, ISO'.); Abner I. Benyon, from Februarys, 1860, to February 17, 1S70, and Edward L. Tead from that date to the present time.

The cashiers have been: J. M. March, from May 10, 1847, till March 14, 18G4; Abner I. Benyon, from then till February 8, 18G!), when he became president; and J. M. Pettengill from that date to 1884, when lie was succeeded by the present cashier, John J. Edd}'.

The board of directors for 18!l2 is composed of Edward L. Tead, Freeman J. Doe, Edward J. Brown, Elisha .S. Converse, Edward Hutchinson, Walter S. Swan. H. G. Nichols and L. P. Bartlett, jr.

Throughout its entire history the Exchange Bank has been located at '28 State street. It has largely been identified with the boot, shoe and leather interest, and has always readily responded to the public need when called upon, and during the war of the Rebellion loaned large sums of money to the national and State Governments. Its board of directors has notably contained broad-minded and successful business men who were leaders in their various trades and callings.

National Bank Of Commerce

The National Bank of Commerce was incorporated under the State law.s as the Bank of Commerce April 9, 1850, the incorporators beiiii.;' Edward C. Bates, George A. Fiske, E. C. Emerson and their associates. At the time of the oro-anization of this bank there were doing business in Boston twenty-seven banks with an aggregate capital of $19,230,000. Quite a number of banks which had sprung into existence in the period of inflation which culminated in the panic of ISIJT, not onlv in Boston but in other parts of New England, had failed and gone out of existence, and but little addition to the banking capital of the city had been made for the previous ten years, so that the petition to the Legislature for an act of incorporation on the ground that the public good required an increase of banking capital, was not wholly without reason. The original capital stock of the bank was $T.i(i,(i(iO, a large portion of which was subscribed by merchants and capitalists, and about one-third was taken by insurance companies, savings banks and trustees. Among the subscribers were Nathan Appleton and Robert G. Shaw, whose vignettes ornamented the notes of the bank. Meeting for organization was held at the Merchants' Exchange May -20,

1850, when the charter was accepted and the following directors were chosen: Edward C. Bates, James W. Baldwin, Charles J. Hendee, Thomas W. Pierce, Jai'vis vSlade, John Worster, Benjamin E. Bates, Abel G. Farwell, Patrick T. Jackson, Jacob Sleeper and Reuben vS. Wade. At a subsequent meeting of the directors, Edward C. Bates was chosen president and William H. Foster cashier. To the last named gentleman belongs the credit of originating the plan of the bank and of bringing the enterprise to a successful issue. He had had long experience as a bank officer, and had written much on financial .subjects which had been extensively copied.

The bank commenced business on August 1, 1850, at 83 and 85 State street, in the four story freestone front building now standing, which was erected for the use of the bank. Business was begun under favorable circumstances. The president, Mr. Bates, was a merchant of repute and wealth, of pleasing address and manners, and exceedingly popular in commercial circles. The depositors rapidh^ increased in number, and the bank soon became one of the most active in Boston. In May,

1851, the capital stock of the bank was increased to $1,500,000, and in May, 1853, to $->,000,000. William H. Foster resigned the office of cashier, and the board of directors passed a vote of thanks for the faithfulness with which he had conducted his trust, and voted him a gratuity of eight thousaiid dollars for his services rendered in the establishment of the bank. Caleb H. Warner was elected cashier to succeed Mr. Foster. In February, 1855, Mr. Edward C. Bates resigned the office of president. He was succeeded by Benjamin E. Bates.

During the progress of the war of the Rebellion the Bank of Commerce was prompt to respond to the call of the secretary of the treasury for funds. In April, 1801, it voted to the State government a loan of ten per cent, of its capital stock. In August, 1861, it voted to take its pro rata share of the ten million government loan apportioned to the Boston banks. Similar action was taken in November, 1861, and in September, 18(!3.

The subject of reorganizing as a national bank was discussed at the annual meeting of the stockholders in October, 1803, but was not finally acted upon till the annual meeting of the following year, when it was voted to make the change. This was perfected November 16, 18(i5, under the present title of the National Bank of Commerce. The officers at this time were Benjamin E. Bates, Thomas W. Pierce, Edward C. Bates, Jacob Sleeper, Oakes Ames, Reuben S. Wade, E. T. Earring- ton, Henry J. Gardner and Henry P. Kidder, directors; Benjamin E. Bates, president, and Caleb H. Warner, cashier. July 1, ISO!), the bank removed its place of business from 85 State street to the vSears BuildinV, where it is still located.

In May, 1875, Caleli H. Warner was chosen a director and elected vice-president. At the same time George W. Harris was appointed cashier, and still serves in this capacity, and has been connected with the bank ever since its organization. Benjamin E. Bates, who was one of the original directors of the bank and had held the office of president since 1855, died on January 14, 1S78. He was succeeded as president by Caleb H. Warner. In November, 1884, Richard P. Hallowell was elected vice-president to fill the vacancy caused by the death of William B. Storer. In June, 1874, A. S. Lincoln, who had been paying teller since the organization of the bank, resigned his position on accotmt of failing health, and in recognition of his long and faithful service the board of directors voted to pay him a gratuity of one hundred dollars per month, which continued until his death on September 11, 18S7, at the age of seventy-five years. In May, 1886, Richard P. Hallowell resigned his position as vice-president and director, and Norwood P. Hallowell was elected in his stead. Caleb H. Warner, who had been connected with the bank since its organization, declined a re-election as president at the annual meeting of the directors in 1890, and Norwood P. Hallowell was elected as his successor, a position he still holds. The capital stock was reduced in 1879 to $1,500,000. During its fortyone years' existence this bank has passed but three semi-annual dividends, and the average rate of annual dividends for this period has been seven and sixteen-hundredths per cent.

The board of directors for 1892 is composed of Norwood P. Hallowell, Charles Henry Parker, William O. Grover, T. Jefferson Coolidge, jr., Caleb H. Warner, George von L. Meyer, Lucius M. Sargent, William J. Ladd, William R. Driver.

National Bank Of North America

The act creating the Bank of North America pas.sed both Houses of the Massachusetts Legislature and was approved by Governor George N. Briggs April S, 1850. The original incorporators named in the act were Newell Sturtevant, David Snow and Charles Rice. The charter was to continue till October 1, 1872; the capital stock to consist of $.500,000, in shares of $100 each, to be paid in by May 1, 1851.

The first meeting of the stockholders was held at the Exchange Coffee House on September 11, 1850, when the following directors were unanimously chosen : George W. Crockett, Charles Rice, Charles Lane, Isaac Rich, J. W. Pottle, Charles W. Scudder, William S. Eaton, J. C. Bates, Clement Willis, and Thomas Nickerson. One week later George W. Crockett was elected president and John K. Hall cashier. A few days later the directors appointed the following additional officers: J. W. Bumstead, teller; Joseph Richardson, bookkeeper, and James M. Btirgess, messenger.

Within three years after the organization of the l)ank its prosperity was such that an increase of capital became desirable, and after petition in due form, on April 28, 1853, the bank was authorized to increase its capital by the addition thereto of $200, OOO. In ISiiT the capital was again increased to the amount of $:)0(),0(ii), making the capital then $1,000,000.

At a meeting of the stockholders on the Sth of December, 1804, the directors were authorized to organize the institution as a national bank under the provisions of the National Banking act, and on February 15, 1865, the first annual meeting of the National Bank of North America was held, at its banking-house, Go State street, when the following directors were unanimously chosen, the whole number of votes cast being 726 : Clement Willis, William vS. Eaton, Charles Lane, Cassander Gilmore, Josiah is. Robinson, Charles A. Whiting, Samuel O. Cochran, R. W. Shapleigh and Edwin R. Sawyer.

There have been six presidents of the Bank of North America, namely: George W. Crockett, from October, 1850, to August 15, 1850; David Snow, from August 24, 1859, to November 2, 1859; Charles Rice, from November 5, 1859, to his resignation in May, 1861 ; William W. Kendrick, from May 15, 18(;i, till his death, July 23, 1863; Richard W. Shapleigh, from November 4, 1863, to January 13, 1874; and Isaac T. Burr from that date to the present time.

John K. Hall was the first cashier of the bank. He served from the beginning until June, 1881, his connection with the bank being longer than any other of its officers. He was succeeded by Arthur F. Luke, who continued as cashier until April 1, 18!)0, wlien Wallace S. Draper, the present cashier, was elected.

The locations of the Bank of North America have been as follows: From 1850 to 1856 it was at 99 State street, opposite Merchants' Row; from 1856 to July 1, 1871, at 65 State street, corner of Kilby, over the New England Bank ; from that date till the great fire of November 9, 1872, it was at the southwest corner of Franklin and Devonshire streets - the site of the present semi-circular store of Abram French & Company - where the building was destroyed by fire; from that date the bank was located at 40 State street, where the State Bank now is, until in 1873 it was removed to its present location in Brewer's Building, at the northeast corner of Franklin and Devonshire streets, the apartments having been completely constructed for the purpose of the bank. The Brewer building occupies a part of the site of the old Federal Street

Theatre. That portion of the southern extension of Devonshire street, on which it now stands, was formerly known, first as- " Broad Alley," and afterwards as " Theatre Alley." A part of the site was for a longtime occupied by a larg-e old-fashioned tavern kept by William Fenno, adjoining the rear of the theatre. The stage, greenroom, and some of the dressing-rooms were situated where the bank is located, and when within these premises the minds of any old resident of Boston is thronged with agreeable dramatic memories. There in the far time Cooper, the Elder Wallack, Edmund Kean, Bernard, Dickson, Finn, Kilner, Jane Henry (afterwards Mrs. Drummond and Mrs. George H. Barrett), Edwin Forrest, Charles Kean, Madame Bishop, and others flourished and won the applause of applauding multitudes.

From the list of original stockholders of the Bank of North America has been gleaned some of the names of those citizens and firms who were then widely known, and they are here presented with the number of shares first held by them :

The directors of the bank for 1892 are as follows: Daniel Dewey, W. vS. Eaton, A. F. Luke, Joseph H. Gray, Daniel W. Wilcox, George F. Putnam, and William Whitman.

Faneuil Hall National Bank

Faneuil Hall Bank commenced bn.sine,ss in August, 1851, with a capital of $500,000. Among its original stockholders, with number of shares subscribed, were the following prominent merchants and capitalists of the city at that day:

The first hoard of directors was compo.sed of J. V. Fletcher, J. W. Baldwin, Lambert Maynard, Reuben Rice, C. C. Chamberlin, Abijah Thompson, Nathan Robbin.s, Lemuel Pitt.s, Charles J. Morrill, Joseph H. Curtis, Joseph C. Bailey and Dexter Follett.

This institution was reorganized under the national banking laws in ISflT) with a capital of $1,000,000, at which time an extra dividend of fifty per cent, w-as paid and a regular dividend of five per cent.

]. \V. Baldwin, the first president of the bank, served until May 1!, 1S54:, when he was succeeded by Joseph H. Curtis, who a few months later was followed by Nathan Robbins, who continued as president until his death, September 5, ISSo, J, Varnum Fletcher was chosen as Mr. Robbins's successor, and has since served as president. Mr. Fletcher has served four years as a representative in the State Legislature, and two years as a Reptiblican senator from the Second Middlesex District, and was chairman of the committee on banks and banking in that body. He is also president of the Belmont Savings Bank, and a successful merchant in Faneuil Hall Market. The first cashier of the bank was Jonas Bennett, who held the office until September 1, 1802, when Edward L. Tead was chosen and continued to act in that capacity until his resignation in February, 1870, when the present cashier, T. G. Hiler, was chosen. Mr. Hiler has been connected with the bank since its organization, and is a financier of large experience. The board of directors for 1892 is as follow^s: J. Varnum Fletcher, Charles E. Morrison, Samuel vS. T^earned, A. J. Adams, George W. Fiske, L. M. Haskins, S. F. Woodbridge, Stillman F. Kelley, Henry D. Verxa.

The Fanenil Hall Bank was first located in Edward Brinle^^'s building; in Market Square, opposite the south side of Faneuil Hall. In 1S5:5 it was removed to 43 South Market street, and in ISIU to its present location, :> South Market street, corner of Merchants' Row.

Blackstone National Bank

The Blackstone Bank, now the Blackstone National Bank, was chartered as a State institution May 24, 1851, and commenced business September Ki following'. The number of suliscribers to the stock was two hundred and thirty-fonr. The ori.trinal officers of the hank were as follows: President, Frederick (lould; cashier, Joshua Lorinjr; directors: Frederick Gould, Dexter Roby, Benjamin L. Allen, Loyal Lovejoy, George W. Chipman, Lsaac H. Hazleton, William Adams, Gardner Chilson, A. L. Chamberlain, Henry Cutter, J. M. Holden, N, P. Mann. Of the first board of directors only one, George W. Chipman, survives.

1S(U, the bank was reorganized under the National Banking act as the Blackstone National Bank, and in October following 11250,000 was added to its capital, besides paying to the stockholders a dividend of twent}' per cent, in addition to the semi-annual dividend of five per cent. In October, 1809, $500,000 was added to the capital, and in October, 187-1, the same amount, making the capital at that time $2, Odd, - 000. In September, 1S78, the capital was reduced by the payment of $500,000 to the stockholder, at which time the October dividend was omitted, the only omission of a semi-annual dividend since the bank was organized.

Mr. Gould resigned the presidency Januar}^ 17, 1871, and was succeeded by Joshua Loring, who up to that time had served as cashier. Mr. Loring continued to serve as president until Eustace C. Fitz was elected his successor. Mr. Fitz is the senior member of the firm of Fitz, Dana & Co., metal dealers. He has had an extensive business and financial experience, and has been a director in this bank for inore than twenty years. He has served both in the House of Representatives and Senate of Massachusetts, and during his legislative career rendered valuable service in shaping financial legislation.

Jo.shua Loring, the present vice-president, has been connected with the bank ever since organizaticni either as cashier, president or vice-president. He is the only one of the original officers of the bank still connected with the institution.

James Adams, the cashier of the bank, was chosen February 3, 1875. He previously served for ten years as cashier of the Bunker Hill National Bank, and has had an extended and varied experience in banking affairs.

The Blackstone National Bank has been an abh' managed institution and is recognized as one of the most substantial of Boston banks. The substantial building owned and occupied by the bank, corner of Han- over and Union streets, was erected on a site bought of the late James M. Beebee, at one time a prominent merchant on Hanover street. The directors of the bank for 1803 arc as follows: Eustace C. Fitz, Georoc W. Chipman, Elcazar Boynton, William A. Rust, Joshua Loriny-, J. vS. Paine, j. <). Wetherbee, John Edmunds, George F. Blake and < ). M. Wentworth ,

National Webster Bank

The Webster Rank received its eharter June 1(J, 1853, the orij^inal incorporators being- William Thomas, Geor.ire B. Upton and Albert l'"earing-, and "their associates and assigns." It came into existence eight months after the death of the statesman whose great name it honorably bears. The capital was fixed at $1,500,000. At the first meeting of its stockholders the following directors were chosen : William B. Bacon, James M. Beebee, William A. Crocker, John M. Forbes, H. H. Hnnnewell, George H. Kuhn, L. W. Tappan, William Thomas, George B. Upton, William F. Weld. By a unanimous vote of this board, William Thomas was chosen president, and Solomon Lincoln cashier. At a subsequent meeting, held July 13, 1853, the followingadditional officers were elected: Edward W. Brown, paying teller; Charles L. Riddle, receiving teller; Merrill N. Bo}'den, bookkeeper, and Charles E. Currier, discount clerk. On August '.I following, Ellery Canning Daniell was elected discount clerk in lieu of Mr. Currier, who had declined to serve, and William C. Durant was chosen collection clerk.

On the JCith of August, 1853, the Webster Bank made its first discount. The first semi-annual report was made by the directors on the of March, and by this report it appeared that the net profits to April 1, 1854, was $60,352.86. The second semi-annual report, made September '26, 1854, showed that the net profits of the bank for the six months ending October, 1854, were $73,643.33. The surplus at that time proved to be $21,143, and the semi-annual dividends of the first year of the institution were 3^ per cent, each, on the capital stock of $1,500,000. The highest and lowest market prices of the Webster Bank shares in 1853 were $105 and $101, and $107 and $00 in 1854.

On the 21st of April, 1865, the stockholders decided by vote that the bank should become a national bank, and the change was effected on the 2d of June, 1865, when the title of the National Webster Bank of Boston was adopted.

There have been five presidents of this institution. William Thomas was jjresident from June 16, 1S53, till January 12, 1800, when he reresigned after a successful presidency of more than fifteen years. He was succeeded by Solomon Lincoln, previously cashier, who resigned on the 1st of February, 1876, when he was succeeded by Francis Jacques, who served from 1876 to 1884. Francis A. Peters was elected to succeed Mr. Jacques, and held the position until 1800, when, dcclin-

The bank has had four cashiers. vSolomon Lincoln served from June Ki, 185:3, till January 1-2, 1801). He was then .succeeded by Ellery C. Daniell, who served till February 21, 1871, when he was succeeded by Edward Reynolds Hall, who continued in oflfice till December 1, 187(>, when he was succeeded by Charles L. Riddle, the present cashier. Mr. Riddle has been connected with the bank ever since its origin in 1853, first as receiving teller and then as cashier. H. H. Hnnnewell is the only member of the first board who has ever since been a director. The directors for 1892 are Joseph S. Kendall, S. W. Marston, John C. Palfrey, H. H. Hunnewell, Samuel Johnson, Joseph A. Laforme, Henry Whitman, John P. Lyman, Thomas Motley, jr. , Francis A. Peters.

By report to the comptroller of the currency, the condition of the National Webster Bank, at close of business March (i, 189:3, was as follows:

Howard National Bank

The Howard National Bank was organized with a capital of f ,j()(),i»iiii in Jtme, 1853, under the name of the Howard Banking Company. Tin.' features of its charter were substantially the same as those of several other Boston banks organized in that year. The first board of directors was composed of Daniel C. Baker, Charles Ellis, Elisha Atkins, E. G. Nickerson, Adolphus Davis, George W. Robinson, A. W. Farrar, Reuben E. Demmon and Abram French. The first meeting of this board was held June 27, 1853, when Daniel C. Baker was chosen president and Stephen Bartlett cashier. The following additional officers were elected July 7 following: George E. Hersey, teller; Jonathan Nichols, bookkeeper, and Noah Robinson, collection clerk.

The name of the Howard Banking Company wa.s changed to the Howard Bank by legislative act in ISoS. It was changed to a national bank, under its present name of Howard National Bank, in 181)5, at which time the capital was increased to |!75(>, ()()(), and in October, ISlli), to its present limit, $l,OU(),0(.l(t.

The cashiers have been as follows: Stephen Bartlett, from July, 1S5;), to June IS, 1855; Georj^e E. Hersey from that time till January, 1S70; and S. F. Wilkins from that date to 18'.)1, when he was succeeded by the present cashier. Chandler Robbins. Mr. Wilkins, before his connection with the Howard, had been assistant cashier of the Revere Bank, under the presidency of Samuel H. Walley.

From 1853 to April, 1870, the Howard was located at '.i7 State street, and after the latter date for several years occupied the premises. So State street, previously occupied by the Bank of Commerce. It is now located at l!l Congress street. The board of directors for 18'.)-i is composed of Reuben E. Demmon, Francis Flint, A. B. Butterfield, vSamuel B. Capen, A. P. Martin, N. W. Rice, J. W. Candler, James M. W. Hall and S. F. Wilkins. Mr. Wilkins has been connected with the bank since 1870, and since 18111 has been vice-president. Reuben E. Demmon and A. B. Butterfield have been directors ever since the bank was organized.

Eliot National Bank

The President, Directons and Compan}- of the Eliot Bank received their charter in 1S53, the orijjinal incorporators being Jeffrej' R. Brackctt, William C. Codman, William A. Howe, and their associates. The capital was limited to $300, ()(K), and its charter was substantially tlie same in its provisions as the charters of other Boston banks incorporated in the same year, viz. : The Howard, Webster, Boston, and Broadway. The first board of directors consisted of Jeffrey R. Brackett, William C. Codman, John Demcritt, Walter Hastings, Thomas Hopkinson, William A. Howe, William H. Jameson, William P. Pierce, John P. Robinson, and John N. Turner. At the first meeting of this board, held on the 11th of June, 1853, William A. Howe was elected president, and at a subsequent meeting Robert L. Day was chosen cashier. Mr. Howe continued as president until October 13, 1859, when, owing to a protracted illness, the directors elected John N. Turner in his stead. In December, 1803, President Turner resigned on account of ill health, and John Demeritt was elected as his successor. Mr. Turner subsecpiently went to Europe, where he died May 16, 1864. He had been a director of the bank ever since its origin, and for more than four years its president. He was for many years widely known among the mercantile community as a wholesale dealer in dry goods in Boston. Mr. Demeritt continued as president till January, 1873, when he was succeeded by William H. Goodwin, who has .since served in that capacity. Mr. Goodwin, prior to his connection with the bank, was engaged in the East Indies import bttsincss.

The Eliot Bank became the Eliot National Bank on October 20, 1804. .Since its orit;in in 1S53 it has had five locations, viz. : In July, ISSS, it occupied rooms at 2(i Kilby street, leased from the Eliot Insurance Compan}^ and since then it has been successively located at 13 Kilby street. Brazier's Building-; 17 State, corner of Devonshire, in the building where the First National is now located, and finally its present location in the Rialto Building at the northwest corner of Milk and Devonshire streets.

In January, isr.5, two months after it became a national bank, its capital was increased to $1,000, 000. The board of directors of the Eliot Bank for 1802 are: William H. Goodwin, who has served m this capacity since 18()3; Joseph H. White, since 1867; Thomas E. Proctor, since 1808; George O. Carpenter, since 1870; the comparatively new members of the board being: Constantine F. Hutchins, Francis W. Breed and Henr)- Morse.

The condition of the Eliot National Bank, as reported to the comptroller of the currency at the close of business, March (i, 18113, was as follows :

Broadway National Bank

The Broadway National Bank was organized as a State bank in 1853, with a capital of $50,000. The fir.st board of directors was composed of J. P. Monks, H. O. Briggs, C. Gill, S. Adams, W. Eaton, S. Leeds, G. C. Thacher, j. Tillson, Osborne Howes, Joseph Smith, C. J. F. Allen and Isaac Adams. Isaac Adams was elected first president and H. H. White cashier. The presidents of this bank after Mr. Adams, who served until November, 1853, with periods of service, have been as follows: John Tillson, from November, 185o, to July, 1855; Seth Adams, from July, 1855, to November, 18(U; Henry vSouther, from November, 18(11, to January, 187(1 ; Axel Dearborn, from January, 18?(;, to January, 1884; Aquila Adams, from January, 1884, to September, 1884; and Roswell C. Downer, from vSeptember, 1884, to present time. The present cashier is J. B. Kellock. The directors for 1892 are: J. R. Graham, Roswell C. Downer, Frank O. Squire, H. L. Millis, and F. W. Downer. In 1854 the capital of the bank was increased to $100,- 00(1, in 1855 to $150,000, and in 1804, at which time it was changed to a national bank, to $200,000. This bank has always retained the respect and confidence of the financial community. The present management assumed control of its affairs in 1884, since which time new life and energy has been imparted to the institution. Its management has been progressive, but at the same time conservative.

According to the report of the officers of the Broadway National Bank, made to the comptroller of the currenc}- March (i, 1893, the condition of the bank was as follows ;

National Rockland Bank

The National Rockland Bank of Roxbtiry wa.s incorporated by the State in 1853 as the Rockland Bank, with a capital of $1(»0,()()0, which was increased to $150,000 in 1854. In April, 1805, it was reorg-anized as a national bank, under its present name, at which time its capital was still further increased to $300,(100. The first directors, elected June 20, 1853, were: Samuel Walker, Thomas Adams, F. M. Weld, Joseph Dorr, Nahum Ward, Stephen P. Fuller, Georj^e Packer, W. A. Humphrey and Calvin B. Fatmce. Hon. Samuel Walker was the first president of the bank, and Samuel Little the first cashier. Mr. Little succeeded to the presidency upon the death of Mr. Walker, in ISfUl, and J. M. Swain was appointed cashier. The latter was succeeded at the end of a year by C. E. Richardson, who was followed by Robert O. Molineaux, and for the last twenty-two j-ears Robert B. Fairbairn has been cashier.

Hon. Samuel Walker, the first president of the bank, was a noted horticulturist, and mayor of Roxbur\\ Hon. Samuel Little, identified with the bank from the beginning, has always been active in the affairs of Roxbury. and, since annexation, in the affairs of the city of Boston. He represented Roxbury in the Legislature, and for several years served in the board of aldermen of the city of Boston. He is president of the Boston Lead ^Manufacturing Company, the E. Howard Watch and Clock Company, and director of the West End Street Railway Company and Bay State Gas Company.

The directors of the National Rockland Bank for 1892 are: Samuel Little, Solomon S. Rowe, John F. Newton. Phineas B. Smith. James Bennett Fors\th, Augustus Richardson. George Curtis, B. Rodman Weld. As one of the two local banks, the National Rockland Bank has had a prosperous career, and has steadily increased in business and in the confidence of the business community.

According to the rep>ort made by the oflScers of this bank at the close of business. March 0, 1803. to the comptroller of the currency, it*; condition was as follows:

Boston National Bank

The Boston National Bank was ors>-anized under a State ehartcr, June 4, 1S5:), with a capital of $:5(l(),(H)U, which in April, 185-i, was increased to $750, ()(H). The original directors were John li. Wilkins, Otis Daniell, J. E. Hazelton, William H. Hill, David Kimball, A. K. P. Cooper, J. M. S. Williams, Abraham T. Lowe, and Jonathan Preston. John H. Wilkins was elected its tirst president and Charles B. Hull cashier. March 34, 18ii4, a reorganization was perfected under the National Bank act, when the name of the mstitution was changed to its present title of the Boston National Bank. In ISiiS the capital stock was increased to $1,001), 1)00. Charles B. Hull, the first cashier of the bank, and later president, was at one time treasurer of the Commonwealtli. The present officers of the bank arc vSilas Pierce, president, who has been a director since 1S70; D. B. Hallctt, cashier, who has been in the service of the bank since 1855, and David Bates, assistant cashier, whose connection with the bank dates from 18()'.). The directors for 181)2 are David L. Webster, Charles S. Kendall, William A. Russell, Lyman Nichols, Silas Pierce, J. E. Hall, John C. Howe, and W. W. Blackmar.

The report of the officers of this bank to the comptroller of the currency, made at the close of business, March 0, 18'.)3, shows the condition of the bank to have been as follows :

Monument National Bank

Tiic Munument Bank of Charlesto'.vn, now the Monument National Piank, was granted a charter on March '^S, 1S.54, with a capital of $150,- 00(1. The meeting of the petitioners for organization was held at the Savings Bank, 15 City Square, on May 10 following, at which a code of by-laws was adopted and the following named gentlemen elected to constitute a board of directors, viz. ; Peter Hubbell, jr., James Dana, James Lee, jr., George W. White, James H. Conant, James O. Curtis, and Alexander Heal. At subsequent meetings of the directors, Peter Hubbell was chosen president and (ieorge L. Foote, of Cambridge, cashier.

At the first annual meeting of the subscribers to the capital stock, held October 3, 1854, the saine directors were re-elected with one exception, Andrew Sawtell being substituted for Mr. Beal. With this board of directors, president and cashier before named, the Monument Bank opened for business on March It, 1855, and entered at once upon a prosperous career, paying its first dividend of three per cent, on the 1st of October following.

During the first decade, which covered the history of the bank as a State corporation, the banking institutions of the country were compelled to encounter the memorable panic of 1857, and later, the failures, depression and general derangement of business occasioned by the civil war. It was not to be expected that the Monument Bank, however well handled, would pass through unscathed. During this ten years its total loans amounted to $9,3-28,000, and it losses to $1!»,!)4:0, or ^-^L^ of one per cent, of the amount loaned, under the circumstances a very creditable showing. Notwithstanding these losses the ban continued its regular dividends in April and October of each year, dividing among its stockholders for this entire period an average annual dividend of seven and fifteen-hundredths per cent.

At the date of its annual meeting in October, 1804, a large majority of the banks throughout the country having reorganized under the National Banking act, the directors were authorized to take such action as would enable the bank to become a national banking association under this act. This change was subsequently made by the directors without any interruption of business, the Monument Bank assuming its new title of the Monument National Bank of Charlestown, May 1, 1865. The board of directors at this time consisted of Peter Hubbell, James O. Curtis, Andrew .Sawtell, Bradley M. Clark, Josiah F. Guild and Amos Stone, Clark and Guild having been elected at the annual meeting in October, 1858, and Mr. Stone in October, ISdo.

Mr. Hubbell held the office of president imtil his death, which occurred January 9, 1871 ; James O. Curtis was elected his successor and served until his death, March 3, 18!)0, when he was succeeded by the present president of the bank, Amos Stone. Mr. Stone has been a director since 1863. He is also president of the Charlestown Five Cents Savings Bank and of the Mutual Protection Fire Insurance Company.

Mr. Foote resigned his position as cashier in December following the reorganization of the bank for the purpose of entering the private banking business in Boston, but his valuable experience was retained in the interest of the bank by his immediate election as a member of the board of directors. He was succeeded as cashier January 1, 18()<i, by the present incumbent of the office, Warren Sanger, who has abh* and most efficiently discharged the duties of the position.

Of the members of the board of directors for 181)2, consisting of Amos Stone, Henry C. Rand, George B. Neal, Warren Sanger and Mark F. Burns, Mr. Stone is the oldest in point of service, having been elected in 1863. Mr. Rand was elected in 187fi, Mr. Neal in 1880, Mr. Sanger in 1888, and Mr. Burns in 1891.

The Monument Bank bequeathed to its successor, the Monument National Bank, a good reputation, a good business and a reserve of undivided profits equal to twenty-five per cent, of its capital. Commencing under these favorable auspices just after the close of the civil war, the bank, under the national system, has continued its career of prosperit}- and success. Conservative management, as applied to the payment of dividends, as well as to the general affairs of the bank, has placed this institution in the front rank of the national banking associations of Boston.

According to the report of the officers of this bank to the comptroller of the currency at the close of business, March fi, 1S'.I3, its condition was a follows :

National Market Bank Of Brighton

The National Market Bank of Brighton was incorporated as a State institution, under the name of the Market Bank of Brighton, March 2^, 1854. Among the incorporators named in the act were: Life Baldwin, Charles Heard and Granville Fuller. Its original capital was $100,000, which has since been increased to $250,000. It was reorganized under its present name in 1.^05. The present officers of the bank are as follows: President, Granville Fuller; cashier, Frank G. Newhall ; directors, B. M. Fiske, G. A. Fuller, Hiram Barker, Granville Fuller, Albert A. Taylor, Homer Rogers and Henry F. Coe.

National Hide And Leather Bank

The National Hide and Leather Bank was incorporated in May, 1857, as a State institution, under the name of the Hide and Leather Bank, with a capital of $1,000,000. The original board of directors consisted of John Field, Albert Thompson, Lee Claflin, John Baury, Henry Poor, William Claflin, Daniel Harwood, N. W. Keen, Samuel Atherton, T. Batcheller, James S. Stone and Frederick Jones.

On the loth of March, lS(i4, the directors were empowered, when they should deem it expedient, after havin,!^- obtained the consent of the owners of two-thirds of the capital stock, to take the usual steps to transform the institution into a national bank. On March 2(1, 1804, it was voted to become a national bank, and on the 27th of June following' it commenced operations as the National Hide and Leather Bank. vSince then the capital has been increased to its present amount, $1,500, 0(10.

1858, to January, 1863, in the Suffolk Bank building. At the latter date it moved into the Simmons Block, corner of Congress and Water streets, where it remained until the building was destroyed in the great fire of 1872. Since April, 1874, it for a time was located at 70 Federal street, corner of Franklin, but now occupies fine quarters corner of C(.)ngress and Milk streets.

The Hide and Leather Bank has had four presidents: Lee Claflin from June 25, 1857, to October I'.l, 1800; Daniel Harwood from that date till succeeded by ex-Governor William Claflin, who remained till January, 1875, when he resigned and was succeeded by the present president, George Ripley. Mr. Ripley was cashier of the Hartford Bank, Hartford, Conn., in ISdO. From that year until 1870 he was engaged in the manufacture of paper in Lowell, Mass. From 1.S72 to 1875 he was national bank examiner.

This bank has had five cashiers: John S. March, from its origin until he was made vice-president ; James D. Martin from that time until he resio'ned, April 38, 1868, when he was succeeded by William Bassett; George N. Jones, who resigned February 28, 1878, when he was succeeded by the present cashier, Samuel Carr, jr.

The National Hide and Leather Bank has suffered by no forgeries, but in the early part of 1808 a defalcation of over $500,000 was discovered in the accounts of the cashier, who had for years permitted certain outside parties to overdraw to that amount, although it is not supposed that he received or expected to receive any pecuniary benefits from the collusion.

The directors of this bank for 1892 are; William Claflin, Alfred L. Ripley, George Ripley, R. H. Stearns, Gilman B. Dubois, Jacob Rogers and George G. Davis. Of this board, William Claflin has served ever since the origin of the bank.

National Bank Of Redemption

The year 1858 was marked by the disturbance of the Suffolk Bank system. For several years previously the banks of New England had contemjjlated the establishment of a bank to perform the work of assorting country money, the profits on which were supposed to be large, to be divided among them. With this view the Bank of Mutual Redemption was incorporated in 1855, with an authorized capital not exceeding $3,000,00(1, to which the banks of Massachusetts were to subscribe one-half and the other New England banks the other half; no bank to subscribe over five per cent, of its capital. The new bank was subjected to special restrictions in regard to its issues and loans. It was not until 1858 that the Bank of Mutual Redemption commenced operations with a capital of $5(;i,7oo and the following directors: James G. Carney, of Lowell, Mass. ; Franklin Nichols, Norwich, Conn. ; Almon D. Hodge, Boston; Stephen N. Mason, Woonsocket, R. I ; Charles Francis Adams, Quincy, Mass. ; Ezra Farnsworth, Boston ; Francis H. Dewey, Worcester, Mass. ; Jacob H. Loud, Plymouth, Mass. ; Geo. W. Thayer, Boston; Chester W. Chapin, Springfield, Mass., and Adam W. Thaxter, Boston. James G. Carney was chosen president and Henry P. Shed cashier. The Suffolk Bank system had prodticed results so excellent, and assumed a position of so much importance that the majority of the Boston banks were opposed to the attempt to supplant it, and refused the Bank of Muttial Redemption admission to the Clearing-hottse Association. The division of the business of redemption caused considerable bitterness; the friction arising finally led the Suffolk Bank directors to give notice that they would discontinue the business of assorting country money after November, 1858. The Bank of Redemption having subsec^uently signified its readiness to receive country money at the rate of twenty-five cents per $1,000, several of the Boston banks made a permanent arrangement with the Suffolk Bank on this basis. Others transferred their business to the Bank of Mutual Redemption, which in April, 1858, had one hundred and forty-three banks, or about half the banks of New England, as its stockholders. At this early date the bank employed a clerical force of fifty in its redemption department alone. The system of redemption of country

In October, 1864, this bank was organized as the National Bank of Redemption, under the National Banking act, making at the time a stock dividend of twenty per cent, and increasing its capital stock to $1,000,- 000, since which time it has always paid from six per cent, to ten per cent, in annual dividends, and nf)w shows surplus and profits of over half a million dollars. The general and special character of its organization as a bank of redemption gave it a most fortunate relationship as a reserve agent for many New England banks, a feature which has been pre.served to the present day, and which is now so prominently manifest in its bank deposits of over $5,000,000, besides individual deposits of over $2,000,000. Chas. A. Presbrey is the oldest officer of the bank, having been cashier since February, 18()3. James B. Case has been president since November, 1888. The directors for 1802 are; James B. Case, Jacob Edwards, Charles A. Grinnell, Dexter N. Richards, Theophilus King, O. H. Alford, J, Albert Walker, Henry M. Knowles and Spencer W. Richardson.

National Bank Of The Republic

At the office of the China Mutual Insurance Company, on the 14th of December, 1859, the first meeting of the subscribers to the stock of the Bank of tlie Republic was held for the purpose of organizing, choosing directors, etc. The capital stock was fixed at $600,000, in shares of $100 each. The whole number of shares already subscribed was found to be 1,827, representing 3:54 votes, all of which were cast for the following ten gentlemen, who were accordingly elected the first board of directors: David isnow, Aaron Kimball, Horatio Chickering, Thomas Nickerson, S. G. Palmer, Asa Jacob, Charles W. Pierce, Joseph J. Whiting, Franklin L. Fay and Joseph F. Dane. The articles of association were then accepted and signed by the following twentyseven subscribers, who took the number of shares affixed to their names, and who were the real founders of the bank :

Thus the shares subscribed for on that day, December l-t, lS5ii, were representing $30o,50(.). On the same day, by unanimous vote, David Snow was elected president of the bank. On the olst of the same month, T. C. Severance was chosen cashier; Charles A. Vialle paying teller, and Lloyd Briggs messenger. On the iJth of January, 1800, Nathan P. Lamson was chosen bookkeeper.

The bank was opened for bu.siness in February, 180U, in the Wigglesworth Building on State street. On the 17th of May following it was voted to increase the capital to $1,000,000. At the fourth annual meeting of the stockholders held in November, 1803, a formal ballot was taken relative to changing to the National Bank system, and of the whole number of votes cast, 157, all but ten were in favor of the measure. Pursuant to this result on the 10th of March, 1804, at a special meeting of the stockholders, the preliminary steps were taken to become a national bank. On the lljth of April, 1804, Hugh McCulloch, comptroller of the currency, sent a certificate authorizing the bank to commence operations as a national bank, and on the 2d of May it did so under its present name. National Bank of the Republic. It was the third bank in Boston organized as a national bank, the Safety Fund having been the first and the Granite second.

David Snow continued as president of the institution from its origin until his death January 13, 1870. On the 24th of the same month he was succeeded by Harrison Otis Briggs. Mr. Briggs had been a director of the bank almost from the beginning, and from 1853 to 1S58 had been a director of the Broadway Bank, South Boston. Mr. Briggs was succeeded by Charles A. Vialle, who has since ably filled the position.

T, C. Severance, the first cashier of the bank, resigned on the i:3th of February, 1802, on account of seriously impaired health. The office was then tendered to Charles A. Vialle, but he declined, and William Bassett, jr., was elected. Mr. Bassett resigned on June 4, 1803, when Charles A. Vialle was selected and held the position until elected president. He was succeeded by Henry D. Forbes, who has been in the service of the bank for twenty-eight years. Mr. Vialle is the only one of the original officers still connected with the bank. He commenced his banking career as messenger in the Suffolk Bank, was afterwards teller in the Bank of the Metropolis, and has served the Bank of the Republic (State and national) throughout its whole existence with conspicu. ous ability and fidelity.

On the 1st of April, ISd'.i, the capital stock of this institution was increased from $1,00(),000 to $1,500,000, one-half of the assessment, $.500,000, was a stock dividend of twentj'-five per cent, and amounting to $-2oO,000. This institution was a fiscal agent of the United .States Treasury Department from lS(i-t to 1872, and during this time negotiated verj' large amounts of treasury notes, 7-30's; and of 10-40 bonds. The largest amount it sub.scribed for, in one day, was $1,500,000. At one time it had a deposit of over $5,000,000 of government money.

The board of directors of the National Bank of the Republic for 1 S<.C> is composed of Frederick D. Allen, George W. Merrett, Albert Stone, Charles W. Field, C. A. Vialle, Jacob P. Bates, William G. Benedict and Costello C. Converse.

National Revere Bank

The Revere Bank of Boston was incorporated in March, 18511. The provi,sions of the charter were in accordance with the banking act pa.ssed in 1851, and the additional act passed in 1852. The authorized capital was $000,000 in 6,000 shares of $100 each. The bank commenced operations on the :5d of May, 1850. The first boaixl of directors was composed of George Blackburn, Osmyn Brewster, W. L. Beal, Charles S. Cutter, John Cowdin, W. F. Goodwin, E. R. Hoar, George Linder, Edwin Parker, T. P. Rich, and Samuel H. Walley. At the first meeting of the directors held March 14, 1859, Samuel H. Walley was elected president, and John W. Lefavour cashier. The subscriptions to its entire capital stock was completed and paid in within six weeks after its subscription books were opened, and it is a significant fact that they embrace a larger number of incorporated institutions than the original lists of any of the older banks of Boston, and the best commentary upon the soundness and success of the Revere Bank is the further fact that most, if not all, of these institutions still remain stockholders in it. The bank commenced business on the corner of Franklin and Devonshire streets. In July, 1859, the capital stock was increased to $1,000,- 000, and at the end oi the first year's business the condition of the bank was reported upon by a special committee, from which report the following facts are taken: Individual deposits $403,029.90, bank deposits $184,877.48, circulation $155,745.00, notes discounted $1,589,- 777. 5;^ There was at that date but one debt overdue to the bank, a sum of $041. 01, and that was believed to be fully secured. At the commencement of and throughout the civil war the officers of the Revere Bank were foremost in illustrating the patriotic spirit which has always been signally manifested by the Boston banks, and in a most practical, serviceable, and ready manner. John W. Lefavour, on account of ill health, resigned his position as cashier in June, 1804, and was succeeded by the present cashier Henry Blasdale.

On the 5th of June, 1805, the Revere Bank was reorganized under the National Bank act, and assumed its present title of National Revere Bank. In that year the market value of its shares ranged from 113JS^ to 130, and its dividends, regular, and extra amounted to a total of sixteen per cent, on its capital stock of $1,000,000. The capital stock of the Revere Bank remained from October 7, 1859, to May 28, ISOii, at $1,000,000. On the latter date it was increa.sed to $2,000,000, on which basis the bank was carried on until January 8, 1878, when the capital was reduced to $1,500,000.

During the great fire of 1872 the hank Iniilding was destroyed, and the bank's safe, which had been built on a stone foundation, was thrown into the middle of the street. Its contents were found substantially uninjured. Bu.siness was quickly resumed after the fire in rooms in the Sears Building, where the bank remained for about two years. On August 1, 1874, rebuilding having been completed, it was returned to its original site, but occiapying the lower floor instead of the second floor as before the fire.

The National Revere Bank has had but three presidents since its organization. Hon. Samuel H. Walley, its first president, was long a prominent citizen of Boston and Roxburj', at one time representing the latter district in Congress. He was ever active and interested in matters connected with his business, with the city where he lived, and with tlic old South Church, of which he was treasurer for many years. He held the office of president of the Revere Bank from March 14, lS5f), till the time of his death August 27, 1877. Hon. Samuel C. Cobb had been elected a director in January, 1870, and after the death of Mr. Walley was chosen president. Mr. Cobb came to Boston from Taunton in 1842, and pursued a mercantile career, finally becoming a partner of the house of Cunningham & Cobb, and later Wheelwright & Cobb. For three years he served as mayor of Boston, an office he filled with most honorable fidelity. Mr. Cobb had served as president of the Revere Bank scarcely seven months, when he accepted, much to the regret of his fellow directors of the bank, the position of actuary of the Massachusetts Hospital Life Insurance Company. He accordingly resigned as president and director of the bank March 30, 1878. Mr. George S. Bullens was thereupon chosen as Mr. Cobb's successor, and has since served most acceptably as president, Mr. Bullens came to Boston from Chicopee in 1848, and soon entered the counting-room of J. C. Howe & Co., a leading dry goods house in this city. He rapidly advanced, and long before the dissolution of the house was a partner and financial manager of the firm.

James A. Woolson is the oldest director of the Revere Bank, having been elected in November, 185!>, only six months after its organization. The present board is composed of George S. Bullens, Joseph Sawj-er, James A. Woolson, Gorham Rogers, John C. Potter, Franklin E. Gregory, (ieorge A. Alden, Henry A. Rice, jr., and Henry (). Houghton.

The condition of the National Revere Bank, as reported to the comptroller of the currency at the close of business, March (1, ISii:?, was as follows :

First National Bank

The First National Bank of Boston was originally organized as a vStatc instittition, under the name of the Safety Fund Bank, on January :!, 1859, with a capital of i|(;00,000, which in October of the same year was increased to $l,t)0(»,0(10. The original directors were: Abraham T, Lowe, F. S. Carruth, William H. Hill. Wni. J. Reynolds, vS. H. Howe, Noble H. Hill, Isaac Fcnno, Isaac Swcetscr, Charles \V. Bryant, Otis Danicill, and Artemas Stone, of whom but one, Isaac Fenno, is still connected with the bank.

Tlic cjrij^-iual articles of association were signed by the following;' stockholders who subscribed for the number of shares affixed to their names :

The first meeting of the directors of the Safety Fund Bank, all of whom were men of wealth and character, widely known in the commercial world, was held on the :3d of January, 185'J, the day of their election, when Abraham T. Lowe was unanimously elected president, and C. R. Ransom cashier.

The Safety Fund Rank went into actual operations on the ith of February, 1850, and was prosperous from the start. On the ^d of July, 185'.), six months after the organization of the bank, the directors voted to increase its capital stock to an amount not exceeding $1,000,0U0. At the annual meeting of the stockholders on the '2 1st of November, 1863, the directors were given power to close up the affairs of the Safety Fund Bank, and to organize under the National Bank act. Under this authority the directors, after having obtained the legal consent of the owners of two-thirds of the stock, made application to the comptroller of the currency that the bank be changed to a national institution. A certificate was received on the 22dof January, 18(!-±, atithorizing the directors to organize the institution as a national bank, and it v^'as accordingly voted on February 1, 186-1, that the Safety Fund Bank, which was the first bank in Boston to reorg'anize tinder the national law, should be transformed into a national bank under the name of the First National Bank.

The first annual meeting of the stockholders after reorganization was held January 10, liSHo. at which meeting 1,0-28 votes were cast for the

The predecessor of the First National Bank, the Safety Fund Bank, began business in the Tremont building, 41 -State street. Since 1870 the bank has been located at 17 State street, corner of Devonshire and opposite the south side of the old -State House. Abraham T. Lowe, the first president of the bank, served until January, 1881. For several months thereafter Samuel U. Warren served as president. He was succeeded in August, 1881, by John Carr, who still fills this "^Dosition. From the organization of the bank imtil March, 18G-4, Chandler R. Ransom served as cashier, being then succeeded by John Carr, who held this office imtil his election as president in 1881, and since that date Chas. H. Draper has been cashier. The present board of directors is composed of Isaac Fenno, William J. Cutler, John Carr, Mortimer B. Mason, William H. Hill and Charles H. Draper.

The condition of the First National Bank, as reported to the comptroller of the currency at the close of business, March 0, 1893, was as follows :

The Continental Bank, now the Continental National Bank, began operations on October I, 18G0. with a capital of $200,000. The original board of directors was composed of Edward R. Seccomb, Oliver Ditson, William T. Hart, F. W. Lincoln, Jonas Fitch, George C. Lord, Frank W. Andrews, William R. Clark and E. C. Drew. Each of these received 1-43 votes, representing 1,555 shares. On the same day of their election, they met at the banking rooms, 239 Washington street, and chose the following officers: President, Edward R. Seccomb; cashier, James Swan; teller, Charles F. Smith; bookkeeper, Joseph J. Howe; collection clerk and messenger, Albert D. Swan.

On November 2('>. 1801, President Seccomb declining a re-election, Oliver Ditson was elected in his place, and for twenty-one years very efficiently served in this capacity. William T. Hart was his successor and has since most acceptably filled the position. James Swan, the first cashier, served for twelve years, being succeeded by the present cashier, Charles F. Smith, who was chosen teller at the organization of the bank and has been in its service ever since. Joseph J. Howe has been bookkeeper from the origin of the bank.

On October 1, 18(U, the capital was increased to $500,000 and on November -I, 1SG8, to $1,000,000. The reorganization of this bank under the National Banking act was effected in October, 1804. Ls board of directors for 1S1I2 is as follows; Frederick W. Lincoln, C. F. Smith, William T. Hart, J. H. Lcc, Phineas Pierce, D. R. Emerson, William B. Rice and Henry P. Stunwood. Two of this board, Frederick W. Lincoln, and William T. Hart, have been directors ever since the bank was organized.

Mount Vernon National Bank

The MuLint Vernon Rank, now the iNIount Vernon National Bank, reeeivcd its charter in lS(i(). In the yreat fire of 1873, the buildinj;' in which the bank was located, at 13 Franklin street, corner of Washington, was destroyed, and in the general destruction were destroyed all the records of the bank prior to 1S(;4. Its charter fixed the capital stock at $200, 000. The following persons and partnerships were among the more prominent of the original stockholders of the bank, antl a majority of them continued to hold stock in it after it had been enrolled in the larger family of national banks:

At the first meeting- of the orit^'inal board of directors, J. P. Robinson was elected president, and H. AV. Perkins cashier, both of whom had been leading spirits in the formation of the bank. ( )n Deccmlier :2S, 1S(;4, the bank was rcorjifanizcd as a national bank under its present title, Mount Vernon National Bank. Carnie E. King was cho.sen president of the reorganized bank, and at the first annual meeting of the stockholders after reorganization the following directors were elected; Carnie E. King, Julius A. Palmer, Albert Hobart, William B. May, Samuel H. Gregory, Wm. G. Russell and John M. Call. Mr. King was succeeded as president in ISTO by Thomas N. Hart, ex-postmaster of Boston, who still serves in this position. Mr. Hart has been director of the bank since 1871. H. W. Perkins continued in the office of cashier until his death in 18S4, when F. E. Barnes, the present cashier, was chosen in his stead. Mr. Perkins had, previous to his connection with the Mount Vernon Bank, been connected with the banking interest of Boston, and enjoyed a well deserved reputation in financial circles. The board of directors of this bank for 1892 is as follows: Thomas N. Hart, John B. Babcock, Benjamin F. Dyer. Fred. Ty. Fclton, Frederick O. Prince, Oscar H. Sampson and Walter H. Tcnny.

The Mount Vernon Bank commenced business at 160 Washington street. In September, ISfiO, it moved to 13 Franklin street. After the great fire of 1872 it temporarily occupied quarters at 133 Tremcmt street until its old cjuarters on Franklin street were rebuilt, whither it removed in October, 1873.

Third National Bank

The Third National Bank was the first Bo.ston bank which was a national bank at the be,<jinning of its career. It wa.s organized tinder the National Banking act of February 25, ISfi:), and beoan operations on the 1st of April, 1804, with a capital of $;!l)il,(i(M) and with liberty to increase it to $1,000,000.

Pierce. Thomas H. Perkins, Joseph Nickerson, James L. Little, Harvey Jewell, John vS. Keyes, Benjamin E. Bates, A. O. Bigelow and Alvin Adams.

The first board of directors was composed of Percival L. Everett, Samuel Hall, jr., J. Willard Rice, Jo.seph L. Henshaw, Marshall S. Scudder, James Sturgfis, J. H. Stephenson, Sereno D. Nickerson and Royal E. Robbins. At a meeting of this board held February 10, ISfii, Percival L. Everett was elected president, and at a subsequent meeting- Jonas Bennett was cho.sen cashier. Mr. Everett was president till November 21, 1885, when he resigned and was succeeded by Moses Williams, who has ever since .served in this capacity. Jonas Bennett continued as cashier till May, 1873, when he was succeeded by Francis B. Sears, who held the position until January, 1890, when he was elected vice-president of the institution, and Frederick S. Davis was chosen cashier. Of the officers of the bank, Mr. vSears is the oldest in point of service. He entered the bank at its organization as junior clerk. Two years later he accepted another business position and was out of the bank for five years. He returned in 1871 as assistant cashier, and as before stated, was made cashier in 1873, and later vice-president, promoting the interest of the bank with fidelity and acceptability in each capacity. The cashier, Mr. Davis, has been engaged in the banking business for more than forty years. He was cashier of the Traders' National Bank for thirty years and its president two years before accepting his present position.

The Third National Bank was originally located at 18 State street, where it remained abcnit eighteen months. It was then moved to 28 State street, there remaining till 1870, when it was removed to (iCi State street, and in 1881 to 8 Congress. At the latter place it remained imtil May, 1803, w^hen it took possession of its present quarters, in the Exchange Building. May 3, 1881, the capital was increased to $000,000; May 2, 1880, to $1,000,000, and October 1, 1801, to $2,000,000. A safe deposit department was added to the facilities of this bank uptjn its removal to its present quarters, and this branch of the business is under the management of Andrew Robeson. The safe deposit vaults are the largest in New England. There arc six compartments, with a capacity of l.T,()ii0 boxes.

The board of directors for 1803 is composed of Royal E. Robbins, Benjamin F. Brown, Thomas O. Richardson, Moses Williams, Otis E. Weld. Benjamin F. Stevens, Francis B. Sears, Charles A. Welch. Henry

B. Endicott, Jerome Jones, William L. Chase, Edward Atkinson, Georfi"e E, Keith, Charles E. vSampson, Joseph B. Rnssell, William Mini it, jr., Edward Sherwin and Edwin H. Abbott, Of the present board, Royal E. Robbins is the only director who was a member of the original board. He has been a director ever since the organization of the bank.

The condition of the Third National Bank, as reported to the comptroller of the cnrreney at close of business March 0, 18!):$, was as follows:

Everett National Bank

The Everett National Bank received its charter under the provisions of the National Banking acton the Sth of March, 18(;5. It was originally proposed by its corporators to style it the Fourth National Bank of Boston, but they concluded to adopt in its stead the propitious name of Everett, in honor of the great orator and statesman. The corporators consisted of the following eminent citizens, most, if not all, of whom were residents of the vSouth End : William Fox Richardson, Charles A. Babcock, Nathan Crowell, Richard A. Robertson, Nathaniel Adams, George W. Messinger, Warren Sawyer, Jarvis Williams, Alden Speare, Amos B. Merrill, Pliny Nickerson, Josiah H. Jones, Frederick Jones, Daniel Harwood, Osborn Howes, William Cumston, Uriah Ritchie, Job A, Turner, George H. Davis, and vS. Harris Austin.

The above gentlemen took one himdred shares each, at J$1U() a share, making up the capital stock of $200,000, as fixed by the charter. On the 3d day of May, 18(i5, the following gentlemen were elected the first board of directors : Charles A. Babcock, Nathan Crowell, Richard A. Robertson, Nathaniel Adams, George W. Messinger, Warren Sawyer, Jarvis Williams, Alden Speare, Amos B. Merrill, and William Fox Richardson. The last named gentleman was perhaps the most active of all who had exerted themselves to establish the bank. He was therefore very appropriately elected the first president of the bank, and Nathan P. Lawson as its cashier. Mr. Richardson, late president of the Boston Penny Savings Bank, has for many years been one oi Boston's most useful and influential citizens. He was succeeded as president of the Everett National, January 12, 18()(J, by Warren Sawyer, who has ever since most ably filled the position. Nathan P. Lawson was cashier until January 15, 1807, when he resigned, and was succeeded by George E. Carr. The present cashier, John Reynolds, has been serving in this capacity since Janiaary 10, 1883.

The capital of the bank was increased to its present limit, $-100,000, on March 31, 1874. The locations of the bank have been various. It remained at its original location, corner of Newton and Washington streets. South End, till the expiration of the lease of its banking rooms there. On the 1st of November, 1807, having obtained permission from the comptroller of the currency to remove to a better location down town, it moved into Parker's Building, on Congress street, between Milk and Water streets. On May 28, 1872, it moved to premises in Congress street, near Lindall street, now Exchange Place, where it remained till the great fire of November 9 and 10, when the buildingwas destroyed. This was the last building burned in that section of the cit}'. On the Monda)- following the fire the Everett recommenced business at (JG State street, continuing there until December 1, 1875, when it moved into the New England Mutual Life Insurance Company's Iniildmg, corner of Milk and Congress streets, where it has since remained

Of the ten original directors the only one still a member of the board is Warren Sawyer, who has been one of the directors of the bank ever since its origin. The board of directors for 1893 is as follows: Warren Sawyer, Francis O. Winslow, Lucius G. Pratt, William H. Sands, Joaquin K. Souther, Charles F. Johnson and R. B. Converse.

National Security Bank

The Nation.-il Security Bank of Boston commenced operations November -li, ISC';', with a capital of $-^50, 000, and with Hberty to increase it to $1,000,(1(10. Its orig-inal location was Sii Court street, but it is now 79 Court, corner of Brattle. The ofificers of the bank are as follows: President, Samuel A. Carlton; cashier, Charles R. Batt ; directors, Samuel A. Carlton, E. G. Byam, I). Webster Kin.^-, Charles R. Batt, Stillman K. Roberts and Henry F. vSpencer.

The financial condition of this bank, as reported to the comptroller of the currency at the close of business, March (i, IS'.i:!, was as follows :

National Bank Of The Commonwealth

The National Bank of the Commonwealth was organized April 12, 1871, with a cash capital of $500,000, which has since been increased to $1,000,000. The first president of the bank was E. C. Sherman, who served iintil his death in February, 1881. He was succeeded by William A. Tower, who continued in office until April 4, 1882, when A. L. Newman was elected. The latter served until May 13, 18'.I2, when he was succeeded by William A. Tower, the present president. John J. Edd}' was the first cashier. He served until July 9, 187'.i, when A. T. Collier was chosen and has since served in this capacity. There have been three vice-presidents, who have served in the order named : E. B. Pratt, A. L. Newman and J. J. Eddy, the last named having been elected in July, 1892. The cashier, A. T. Collier is in point of service the oldest official in the bank. He was discount clerk from 1S72 to 1879, when he was promoted to his present position. The directors for 1892 are: Wilham A. Tower, R. Worthington, E. B. Pratt, A. L. Newman, J. F. Harris, Oliver Ames, A. O, Smith, Solomon Lincoln, Harrison Gardner, Francis A. Foster, and A. T. Collier.

The condition of this bank, according to report to the comptroller of the currency at the close of business, March (i, 1S93, was as follows:

First Ward National Bank

The First Ward National Rank of East Bo.ston was orj^anizcd in lS7;i, with a capital of $200,(1(11). The first board of directors consisted of W. L. Sturtevant, S. H. Whidden, E. M. McPherson, J. H. Pote, W. Wool- Icy, H. B. Hill, Samuel Hall, Silvanus Smith, and James Smitli. W. L. Sturtevant, the first president of the bank, served from its organization until 18S0. He was succeeded by Christopher R. McLean, who had been a member of the Governor's Council and prominent in city and State affairs. Mr. McLean held the position for four j^ears, being- followed in 18S4 b}^ S. H. Whidden, who served until 1S02, when the present president, George W. Moses, was elected his successor. Mr. Moses had previously been connected with the bank from 1881 as cashier. The present board of directors (1802) is composed of George W. Moses, Charles A. Morss, jr., Silvanus Smith, vStephen H. Whidden, E. H. Atwood, vSamuel N. Mayo, Wesley A. Gove, and Jabez K. Montgomery'. Silvanus Smith and Stephen H. Whidden have served as directors since the organization of the bank.

The financial condition of this bank, as reported by its officers to the comptroller of the currency at the close of business, March fi, 180:!, was as foHows :

Central National Bank

The Central National Bank commenced operation.s on Ma}' 2, 187:5. with Henry Smith as president, and for about two years was located in the Masonic Temple, but since 1S75 has occupied its present more central and convenient premises at 121 Devonshire street. On January 11, l!>7li, Charles J. Bishop, of the well known house of Charles J. Bishop (k Co., wholesale leather dealers, was elected president, and under his administration the bank became successful and popular amon^- the business comtnunity. Durin.o' the panic of 1873 the Central National was one of the few banks which did not avail itself of the Clearini;-house certificates. L. W. Young was cashier for several years. For three years (lS(il-li:i) he was connected with the foreig-n money department of the old Bank of Redemption; in May, lSi;3, he became attached to the National Exchange Bank; in 1S74 he became cashier of the Central National. The present officers of the bank are as follows: President, Charles H. Allen; ca.shier, Otis H. Luke; directors, Charles H. Allen, Henry D. Hyde, Charles J. Bishop, Moses W. Richardson, Edward P.

Manufacturers' National Bank

The Manufacturers' National Bank was incorporated in IS'7:i, and has a capital of $50(),()(H). Its president, Weston Lewis,' was for years at the head of the yreat dry i^-oods house of Lewis, Brown & Co., and for two and one-half years chairman of the State Board of Arbitration.

The cashier, Francis E. Seaver, has held this position ever since the organization of the bank, and has had an experience in banking dating from 1857. The vice-president is George B. Nichols; directors: Nathan P. Coburn, Benj. W. Munroe, H. H. Proctor, Geo. B. Nichols, A. Shiiman, Otis Shepard, H. Staples Potter, John Wales, and William A. Easton.