MANCHESTER, NEW HAMPSHIRE - BANK HISTORY ---------------------------------- Information located at http://www.nh.searchroots.com On a web site about GENEALOGY AND HISTORY OF NEW HAMPSHIRE and its counties TRANSCRIBED BY JANICE BROWN Please see the web site for my email contact. ---------------------------------- The original source of this information is in the public domain, however use of this text file, other than for personal use, is restricted without written permission from the transcriber (who has edited, compiled and added new copyrighted text to same). ======================================================== SOURCE: History of Hillsborough County, New Hampshire Philadelphia: J.W. Lewis & Co., 1885 CHAPTER V - Page 65 The Amoskeag National Bank-- The Manchester National Bank-- The Merchant's National Bank-- The First National Bank-- Second National Bank-- The Manchester Savings-Bank-- Merrimack River Savings-ank-- Guaranty Savings Bank-- The Asmoskeag Savings-bank-- The People's Savings-Bank. THE AMOSKEAG NATIONAL BANK--The Amoskeag Bank was incorporated June 24, 1848, and commenced business in October of the same year, with a capital of $100,000. This was increased August 5, 1850 to $150,000, and, August 7, 1854 to $200,000. The first board of directors were elected October 2, 1848, as follows: Richard H. Ayer, Samuel D. Bell, Mace Moulton, Stephen D. Green, John S. Kidder, Stephen Manahan and Edson Hill. Richard H. Ayer was chosen president and Moody Currier cashier. February 14, 1853, Walter French succeeded Mr. Ayer as president and officiated until his death, which occurred in a railway accident, at Norwalk, Conn., the same year. May 9, 1853, John S. Kidder was chosen president and officiated until the bank was discontinued. The first and only cashier was Moody Currier. The Amoskeag National Bank was organized November 1, 1864, with a capital of $100,000 which was increased, June 12, 1865, to $200,000. The first board of directors was as follows: Moody Currier, John S. Kidder, Stephen D. Green, Edson Hill, Henry Putney, Adam Chandler, Daniel Clark, Darwin J. Daniels and Horace Johnson. Moody Currier was chosen president and G. Byron Chandler cashier, both of whom still hold their respective offices. HON. MOODY CURRIER, L.L.D., the present Governor of New Hampshire and one of the leading bankers and capitalists of the State, has been the architect of his own fortune, and by his energy, clear busienss foresight and indomintable will, has risen from a penniless laborer on the rocky farms of Merrimack County to the present exalted and honorable position he occupies among the citizens of his native State. The rudiments of his education were acquired at home, in the evening, after the day's work was done, and in this manner he fitted himself to enter Hopkinton Academy. From thence he went to Dartmouth College, where he graduated with high honors in the class of 1834. Hon. Daniel Clark, of this city, also graduated in this class. After leaving college, he taught school one term at Concord and one year at Hopkinton Academy, and then became principal of the High School at Lowell, Mass, where he remained until 1841. In the spring of that year, having, in the mean time, read law, he came to Manchester, was admitted to the bar and formed a partnership with Hon. George W. Morrison for the practice of his profession. This partnership continued about two years when it was dissolved, and Mr. Currier pursued his profession alone until 1848, acquiring a large and lucrative practice. During this time he had developed rare skills as a financier, and upon the organization of the Amoskeag Bank, in 1848, was elected its cashier, a position which he retained until its reorganization as a National Bank, in 1864, when he was chosen president of the bank, and is the present incumbent. Mr. Currier has led an active life and has been prominently identified with many of the largest and most successful monied institutions in the city and State. He has been treasurer of the Amoskeag-Savings-Bank since its incorporation in 1852, a director of the People's Savings Bank and of the Manchester Mills since their organization. He was a director of the Blodgett Edge Tool Company and a director and treasurer of the Amoskeag Axe Company. He was also treasurer of the Concord Railroad in 1871 and 1872; has been treasurer of the Concord and Portsmouth Railroad since 1856; president of the Eastern Railroad in New Hampshire since 1877; treasurer of the New England Loan Company since 1874; director of the Manchester Gas-Light Company since 1862, besides holding various other positions of trust and responsibility, in all of which he has been eminently successful. Notwithstanding he has been actively engaged in the management of large financial operations, he has found time to indulge his taste for literary pursuits, and is one of the most accomplished scholars in the State. While a teacher in Concord, he edited a literary journal and later edited and published a weekly paper in this city. His tastes have led him into the realm of poetry, and in 1879 a volume of his poems was published for private circulation. Politically, Mr. Currier is a Republican. Prior to 1852, however, he affiliated with the Democratic Party, which elected him clerk of the State Senate in 1843, and 1844. He subsequently became a Free-soiler and has been a member of the Republican party since its organization. He was a member of the Senate in 1856 and 1857, and in the latter year president of that body. In 1860 and 1861 he was a member of the Governor's Council and chairman of the committee for raising and equiping troops to fill New Hampshire's quota of men in the War of the Rebellion. In 1876, Mr. Currier was one of the Presidential electors who case the vote of New Hampshire for Hayes and Wheeler. In 1884 he received the nomination of his party for the gubernatorial office, and was elected by a majority vote. There were three candidates in the field. He has been married three times, but has no children living. Mr. Currier is one of Manchester's leading and most honored citizens, and all measures tending to advance the welfare of the city have found in him an earnest supporter. THE MANCHESTER NATIONAL BANK--The Manchester National Bank was chartered in December, 1844 and organized in 1845 with the following directors: Samuel D. Bell, Hiram Brown, Jacob G. Cilley, Isaac C. Flanders, Walter French, William C. Clarke, and Nathan Parker. At the annual meeting in July, 1845, the following board of directors was chosen: James U. Parker, Samuel D. Bell, David A. Bunton, Hiram Brown, Jonathan T.P. Hunt, William C. Clarke and Isaac Riddle. The bank began operations September 2, 1845, with a capital of $50,000 which was subsequently increased to $125,000. The first officers were James U. Parker, president and Nathan Parker, cashier, both of whom officiated during the existence of the bank. It was organized as a national bank in April 1865, under the style of the Manchester National Bank, with the following officers: Nathan Parker president; Charles E. Balch, cashier; Nathan Parker, Benjamin F. Martin, Phinehas Adams, Gilman H. Kimball, John H. Maynard, David A. Bunton and Horace P. Watts, directors. The original capital of the bank was $100,000 which was increased, April 2, 1872 to $150,000. Nathan Parker, the first president, has continued as such to the present time, and Charles E. Balch, the first cahiser, remained in that position until his death, October 18, 1884. He was succeeded by Walter M. Parker. The present board of directors is as follows: Nathan parker, Horace P. Watts, Phinehas Adams, B.F. Martin, John H. Maynard, N.S. Clark, William J. Hoyt, and Walter M. Parker. THE MERCHANTS' NATIONAL BANK--This bank was organized as a State bank under the name of City Bank in 1853 with the following directors: Isaac C. Flanders, William C. CLarke, Oliver W. Bailey, Samuel W. Parsons, Andrew G. TUcker and William H. Hill; President, Isaac C. Flanders; Cashier, Edward W. Harrington. In 1865 the bank was converted into a national bank under the name of the City National Bank, when Hon. Clinton W. Stanley was elected president to succeed Mr. Flanders, resigned. In 1876, Daniel W. Lane was elected cashier, to succeed E.W. Harrington, deceased. The original capital was $100,000 which has been increased to $150,000. January, 1879, Hon. James A. Weston was elected president, to succeed Hon. Clinton W. Stanley. In 1880 the name of the bank was changed to the Merchant's National Bank. The present board of directors are Hon. James A. Weston, John C. French, Hon. Nathan P. Hunt, Bushrod W. Hill, Hon. John M. Parker, Hon. Charles H. Bartlett and William C. Rogers. Officers: President, Hon. James A. Weston; Cashier, Daniel W. Lane. ***** THE FIRST NATIONAL BANK was incorporated under the name of the Merrimack River Bank, July 14, 1855, Ralph Metcalf being Governor of the State. The charter was granted for the term of twenty years from July 15th, and was accepted August 1st by the following board of grantees: William Whittle, William G. Means, John H. Moore, Peter P. Woodbury, Frederick Smyth, William P. Newell, Timothy W. Little, Wiliam Patten, Isaac Tompkins, Isaac W. Smith, Frederick G. Stark, John Ordway, George W. Converse, Josiah C. Eastman, William Shepherd, D.J. Daniels, C.W. Baldwin, Jacob G. Cilley, Alonzo Smith, David cross, Phinehas Adams, Francis H. Lyford, B.F. Martin, William Richardson, Waterman Smith, Frank A. Brown, Alpheus Gay Jr., Joseph B. Clark, John M. Parker, Henry T. Mowatt, George W. Bailey, William Perkins and their associates. The first meeting of the grantees took place at the office of Frederick Smyth, No. 4 Smyth's Block. Suitable by-laws were adopted, the capital stock, one hundred and fifty thousand dollars, divided into fifteen hundred shares and the requisite machinery for the successful working of the new institution was provided. The first organization was as follows: Directors, William G. Means, William P. Newell, William Whittle, Waterman Smith, John H. Moore, B.F. Martin, David Cross; President, William G. Means; Cashier, Fredrick Smith; Clerk, John D. Irving. The Bank of Commerce, in Boston, was selected as a place of deposit. The discount of notes was authorized November 1, 1855, and the first loan was made to the agent of the Manchester Mills. By November 7th the capital stock had all be subscribed and paid in. In 1856 the board of directors was re-elected and in November of that year William Whittle resigned and Phinehas Adams was chosen in his place, and there was no further change until 1859, when Mr. Means resigned as president, and was succeeded by John Frederick Smyth, the present incumbent. John Frederick Smyth was cashier of the bank from its incorporation, in 1855, to 1884, when he was succeeded by the present cashier, Mr. Charles F. Morrill. On the 22d of March 1865, the stockholders voted to reorganize, under United States laws, as the First National Bank of Manchester, and the old board of officers continued until the annual meeting in the following January, when they were re-elected. The present officers and directors are as follows: Hon. Frederick Smyth, president; Hon. David Cross, vice-president; Charles F. Morrill, cashier; John P. Goggin, clerk; Directors, David Cross, Joseph B. Clark, Thomas Wheat, Frederick Smyth, F.B. Eaton, Frank Dowst, Joseph F. Kennard. The clerks in employ, in the order of time in which they are named, are as follows: John D. Irving, now insurance commissioner, Toldedo, Ohio; Samuel T. Foster, died in Washington D.C.; H.A. Viarly, banker in Boston, Mass.; George Gage, now bank commissioner for New Hampshire; George B. Lord, now at St. Louis, Mo.; W.R. Walker, in savings-bank at Concord NH; Josiah Morrill, died while in the employ of the bank; John Porter, resigned on account of ill-health. The charter was obtained against the most strenuous opposition on the part of other resident bankers, and was regarded as a person triumph of Mr. Smyth. The fact once accomplished, however, all opposition subsided, and the business relations have ever been harmonious with his fellows. His fortunate investments and always conservative management have gained for the bank an enviable reputtation, second to none in the State. THE SECOND NATIONAL BANK The Second National Bank was chartered in 1877. The first board of directors, which has not changed since, was as follows: Aretas Blood, Josiah Carpenter, Frank P. Carpenter, John Hoyt, and N.S. Bean. Mr. Blood was elected president and Josiah Carpenter cashier positions which they still employ. The bank has a capital of one hundred thousand dollars. THE MANCHESTER SAVINGS-BANK was chartered July 8, 1846, and organized with Samuel D. Bell president, and the following board of trustees: John A. Burnham, George Porter, David Gillis, William P. Newell, Hiram Brown. Nathan Parker was chosen treasurer and has held the office to the present time. Mr. Bell resigned in 1847, and the succeeding presidents have been as follows: Hiram Brown, William P. Newell and Hon. Daniel Clark. The present trustees are as follows: Nathan parker, Charles F. Warren, B.F. Martin, Charles Wells, M.W. Parker, Charles D. McDuffee and Stephen N. Bourne. Present amount of deposits, four million five hundred thousand dollars. THE MERRIMACK RIVER SAVINGS-BANK was incorporated June, 1858, under the name of the Manchester Five-Cent Savings Institution, and the charter was issued to the following board of grantees: Phineas Adams, Joseph B. Clark, John Ordway, Warren Paige, Waterman Smith, John L. Kelley, George Porter, B.F. Martin, Daniel Clark, Harry Leeds, Frank A. Brown, Samuel Upton, John B. Chase, C. Sackrider, Daniel W. Fling, Brooks Shattuck, David Gillis, John H. Goodale, William Crane, Henry T. Mowatt, Stephen Palmer, Ezra Huntington, Calvin Boyd, Josiah S. Shannon, John B. Clarke, David Cross, John M. Parker, George Thompson, Frederick Smith, Charles H. Campbell, George W. Thayer, Charles C. Parker, F.B. Eaton, James M. Varnum, THomas G. Holbrook, R.N. Batchelder, James S. Cheney, Israel Dow, Ebenezer Ferren, Isaac Riddle, M.O. Pearson, W.W. Leighton, Thomas Wheat, E.W. Harrington, Varnum H. Hill, Alonzo Smith, William Richardson, and their associates and successors. In 1865 the name was changed by act of Legislature to that which it now bears. The first meeting for the adoption of by-laws, choice of officers, etc. was held July 14, 1858, and the following board of officers chosen: President, Waterman Smith; Vice-Presidents, E.W. Harrington, George Porter; Treasurer and Clerk, Frederick SMyth; Trustees, B.F. Martin, Joseph B. Clark, Isaac W. Smith, William B. Webster, F.A. Brown, George Thompson, Peter S. Brown, Frederick Smith, Josiah S. Shannon, John L. Kelley, James M. Varnum, Alonzo Smith, Thomas Wheat, Warren Paige, Albe C. Heath, E.S. Peabody, John B. Clarke, Joseph A. Haines. The first deposit was made August 2, 1858. The business has been transacted in the rooms occupied by the First National Bank, and its details attended to by the clerks employed in that institution. Waterman Smith remained president until 1884, when he was succeeded by Hon. Frederick Smith, the present incumbent. Hon. Frederick Smyth continued as treasurer until 1884, when, upon assuming the presidency of the bank, he was succeeded by C.F. Morrill. The present members of the corporation are as follows: Jos. B. Clark, Waterman smith, Jno. L. Kelly, George Porter, B.F. Martin, Daniel Clark, Henry Leeds, Samuel Upton, John B. Clarke, Daniel W. Fling, David Gillis, John H. Goodale, William Crane, David Cross, John M. Parker, George Thompson, Frederick Smyth, F.B. Eaton, James M. Varnum, Ebenezer Ferren, M.O. Pearson, W.W. Leighton, Thos. Wheat, Joseph Kennard, Joseph L. Stephens, E.M. Topliff, A.J. Lane, Charles Williams, John Porter, C.F. Morrill, T.L. Livermore, G.P. Whitman, John H. Andrews, A.W. Quint, John P. Goggin. President, Frederick Smyth; Vice-Presidents, Joseph B. Clark, F.B. Eaton; Treasurer and Clerk C.F. Morrill. The amount of deposits, January 1, 1885, were $1,882,825.38 GUARANTY SAVINGS-BANK was incorporated in 1879 with the following incorporators: Nathan P. Hunt, Robert M. Shirley, William R. Patten, H.K. Slayton, Alonzo Elliott, James A. Weston, Jesse Gault, J.W. Hildreth, Horace Pettee, George W. Weeks, James F. Briggs, George A. Bailey, John C. Ray, Patrick A. Divine and Rufus H. Pike. The first officers were as follows: President, John M. Parker; Treasurer and Clerk James A. Weston. The present amount of deposit is six hundred and twenty five thousand dollars. The first board of trustees were James A. Weston, Alonzo Elliott, Nathan P. Hunt, John P. Moore, David A. Parker, Patrick A. Devine, Hiram K. Slayton, John Kennard, Bushrod W. Hill. Present board of trustees are John M. Parker, Alonzo Elliott, Nathan P. Hunt, John P. Moore, David A. Parker, John Kennard, Hiram K. Slayton, Bushrod W. Hill, James A. Weston. THE MECHANICS SAVINGS BANK was organized in 1877 with the follwoing Trustees: Aretas Blood, Josiah Carpenter, Frank P. Carpenter, N.S. Bean and George Dodge. Mr. Blood was the first president and was succeeded by Henry E. Burnham on October 1, 1880. Mr. Josiah Carpenter has been treasurer from the beginning. There are also two savings-banks--The People's and the Amoskeag-- located in the Amoskeag Bank building. For biographies of the following bank-related people ARETAS BLOOD FREDERICK SMYTH (also mayor of Manchester and Governor of New Hampshire) please see this web site under "Family Trees" (end)