USA > Connecticut > Fairfield County > Bridgeport > A history of the city of Bridgeport, Connecticut > Part 30
Note: The text from this book was generated using artificial intelligence so there may be some errors. The full pages can be found on Archive.org (link on the Part 1 page).
Part 1 | Part 2 | Part 3 | Part 4 | Part 5 | Part 6 | Part 7 | Part 8 | Part 9 | Part 10 | Part 11 | Part 12 | Part 13 | Part 14 | Part 15 | Part 16 | Part 17 | Part 18 | Part 19 | Part 20 | Part 21 | Part 22 | Part 23 | Part 24 | Part 25 | Part 26 | Part 27 | Part 28 | Part 29 | Part 30 | Part 31 | Part 32 | Part 33 | Part 34 | Part 35 | Part 36 | Part 37 | Part 38 | Part 39 | Part 40 | Part 41 | Part 42 | Part 43 | Part 44 | Part 45 | Part 46 | Part 47 | Part 48 | Part 49 | Part 50
The Bridgeport Savings Bank was chartered in May, 1842, and began business at a store on Water street in July of the same year.
Of the twenty-two corporate members mentioned in the charter, but three are now living, viz : Messrs. Gideon Thompson, William H. Noble and Thomas Ran- som. At the time the charter was granted there were but eight Savings Banks in the State, some of them just organized, and none west of New Haven.
The Bank was afterward removed to No. 21 Wall street and in 1850 to a building upon the site now occupied, on the corner of Main and State streets. The present handsome Banking House was completed in 1873. The first Officers and Trustees of the Bank were chosen July 16th, 1842, as follows : President, Sherwood Sterling ; Vice-Presidents, Josiah Hubbell and William B. Dyer : Treasurer. Smith Tweedy ; Secretary, William H. Noble ; Trustees, Samuel Simons, B. G. Noble, Henry Shelton, Elihu Beach, David Perry, Gideon Thomp- son, Schuyler Seeley, Starr Beach, W. Stillman, Mark Moore, Joshua Lord, Ben- jamin Wheeler. Lemuel Coleman and Thomas Ransom. The following gentlemen have been Presidents of the Institution : Sherwood Sterling, elected in 1842 ; Smith Tweedy, in 1843 ; Daniel O. Wheeler, in 1850 ; Lemuel Coleman, in 1851 ; Sherwood Sterling again, in 1864 ; Hervey Higby, in 1870, and E. S. Hawley in IS75. The Bank has had five Treasurers, viz : Smith Tweedy, Sherwood Sterling, George Sterling, Charles P. Porter and Alexander Hawley. The prosperity of the Bank is owing in a large degree to the prudence, integrity and good manage- ment of its former able and faithful Treasurer, Mr. George Sterling, who held the position for twenty-seven years and until his death in 1871. The total number of Deposit Accounts opened during the existence of the Bank, is 36,829. The present number of Depositors, is 8,538, and the total amount of Deposits, $2,957,- 266.01. The Bank has a surplus of $150,000. Since its organization the Bank has not failed to pay its regular Semi-annual dividends. The dividends for the first year ending January, 1844, amounted to $331.74, being at the rate of 5 per cent. per annum ; and the dividends for the last year ending January, 1886,
£
342
History of Bridgeport.
amounted to $124,673.45, 412 per cent .; and the aggregate of dividends paid to the depositors, being $3.807.933.05, averaging 51/2 per cent. per annum for the whole period. The present Officers of the Institution are : President, Edmund S. Hawley ; Vice-Presidents, Samuel C. Trubee and Luzon W. Clark ; Secretary and Treasurer, Alexander Hawley ; Trustees, Ezekiel Birdsey, Philip Conrad, Thomas B. DeForest, Curtis Thompson, Edward Sterling, F. B. Ilawley, William R. Higby, William H. Perry, F. W. Benham and Alexander Hawley.
The Bridgeport City Bank, now the City National Bank, was organ- ized January 17, 1854, with a capital of $100,000, which was increased after five years to $200,000, and nationalized with a capital of $250,000, March 15, 1865. It now has a surplus of $125,000, an increase of $73,000 during the past seven years, aside from other undivided profits. The bank paid its sixtieth dividend last January and is now paying four per cent. semi-annually on a conservative basis ; the market value of the stock is about $150 per share.
This City National Bank began business in the old post office building on the north side of Bank street ; removed thence to the southwest corner of Wall and Water streets, and in 1861 completed and occupied its spacious building at Nos. 17, 19 and 21 Wall street.
The following gentlemen have served as presidents of this institution : Adam P. Houston, S. F. Hurd, Ira Sherman, Sherwood Sterling, George B. Waller, and the present incumbent, Daniel N. Morgan, who has served since January, 1879.
The following have officiated as cashiers: G. H. Fairchild, E. Lacey, R. T. Clarke, J. F. Fayerweather, and T. L. Bartholomew, the last having served since December, 1880.
The present directors are: Nathaniel Wheeler, Elbert E. Hubbell, Miles Beardsley, Edwin G. Sanford, T. L. Bartholomew, D. B. Booth, George Mallory, Daniel N. Morgan, D. W. Kissam.
Hon. Daniel Nash Morgan, son of Ezra and Hannah (Nash) Morgan, is a native of Newtown, Conn., and was educated in the common school, Newtown academy, and in the Bethel high school. His ancestry runs back in every line to the early settlers in New England. The Morgan family came from Wales, England, and early established the family at New London, Conn., and Springfield, Mass. In the southern portion of Newtown, Conn., may still be seen the site of the dwelling house of Captain Zedekiah Morgan, the first of the family in this part of the country, which was in the days of the Revolution the Captain's 690 acre farm, and which is still known as the Morgan farm. His ancestral lines run back through the Sanford family of Redding, and the Nash and Camp families of Norwalk. His grand parents in the Morgan family passed away in the 84th, 90th, 96th, and Soth year of their ages. His father, Ezra Morgan, was born in Redding, February 21, 1801, but resided most of his life in
LA lorgan
343
Bridgeport Banks.
Newtown. He married Hannah Nash, of Westport. During a busy life as a merchant for forty years, a farmer on a large scale, and president of the First National Bank of Bethel for several years, he still found time to devote to politics, among other positions being a Representative from Newtown in 1842, 1862, and 1868, and for a long time, until disqualified by age, a justice of the peace. He died June 9, 1871, in his 71st year. His widow died April 15, 1883, in her 68th year.
Daniel N. Morgan was born August 18, 1844. At the age of sixteen years he became permanently a clerk in his father's store, and was educated a merchant. Of his own volition he was placed on a salary usually given for a five year's service, namely, $50, $60, $75, $85, and Sioo; and with this sum for all expenses except his board, came out at twenty-one years of age with $50, saved from this and other sources, and with this he commenced his business life. His recreations were such as getting up with the sun in the summer, and far ahead of it in the winter, and starting for Bridgeport with a load of produce at six o'clock in the morning. The first year of his majority he conducted the business of the store as proprietor. After that for a few months he was clerk in the dry goods house of Taylor and Joyce, of Bridgeport, then for about three years, to September, 1869, was of the firm of Morgan and Booth, of Newtown Centre, when he again came to Bridgeport and was of the dry goods and carpet firm of Birdsey and Morgan. In 1876 he took a trip to Europe, and during 1877 he was connected with the firm of Morgan, Hop- son and Company, wholesale grocers. In 1873 and 1874 he was a member of the Common Council of this city, a member of the Board of Education in 1877, Mayor of the city in 1880 and 1884, a member of the Legislature in 1883. In 1884 he was elected Senator for the fourteenth district for two years. In January, 1879, he was elected president of the City Na- tional Bank, a position he continues to occupy. He is also first vice-president of the Mechanic's and Farmer's Savings Bank, and for years has been a member of the board of directors and of the executive committee of the Bridgeport Hospital.
On June 10, 1868, Mr. Morgan married Medora Huganin
£
£
344
History of Bridgeport.
Judson, daughter of Hon. William A. Judson, of Bridgeport, but formerly of Huntington, a descendant of Colonel Agur Judson, of Revolutionary fame, and also of the first Judson family of Stratford. Their children now living are: Mary Huntington and William Judson Morgan.
The Connecticut Bank was incorporated as a State bank in May, 1831. Its original capital stock was raised by subscription, under the superintendency of five commissioners : Cyrus H. Beardsley, Daniel Sterling. Jeremiah Sturges, Jedediah Graves, and Enoch Foote. Within three months after the incorporation, as required by the statute, a branch of the bank was established at Mill River, now Southport, in the town of Fairfield. It is known to-day as the Southport National Bank. The act of incorporation required that, within twelve months from the time the bank should commence discounting, there should be paid by it to the treasurer of Yale College, for the use of said college, $3,500, and to the treasurer of Wash- ington-now Trinity-College, $1,500. The act also stipulated that at the end of two years a second $3.500 be paid to Yale, and a second $1,500 to Washington Colleges. The bank proved a success from the start, and was able not only to meet these requirements, but to declare regular dividends, and it has continued to do so uninterruptedly ever since. In the history of the bank no such thing as a dividend skip can be found. The bank's first president was Captain Ezekiel Hubbell, who was elected in 1835; the second, Daniel Thatcher, in IS40 ; the third, Hon. P. C. Calhoun, in 1848, who continued in that position until 1864, when he resigned to take the presidency of the Fourth National Bank of New York City, which he held to the time of his death, in 1882. Hervey Higby was his successor, in 1864, and at his decease, in 1875, Hon. Daniel H. Sterling was chosen to fill the place. Upon his demise, in 1877, the present incumbent, Mr. Samuel W. Baldwin, was elected president. A pleasant feature of the history of the bank is the fact that during its fifty-four years of existence it has had but three cashiers ; the first, Hon. Charles Foote, who held the place until his death, in 1862 ; John T. Shelton, who succeeded him and resigned to become the treasurer of the New York and New Ilaven Railroad Company, in 1868 ; and Mr. H. B. Drew, who succeeded him and is cashier at the present time. His association with the bank covers a period of twenty-four years. The present directors of the bank are: Samuel W. Baldwin, Samuel C. Trubee, Jarratt Morford, William D. Bishop, Henry B. Drew, William R. Higby, Marshall E. Morris, Clapp Spooner, and Henry A. Bishop.
The bank was located at first on the corner of Wall and Water streets, where it remained until the completion of their building, the site for which of sixty feet front, was purchased January 28, 1834, on the northeast corner of Main and Wall streets. In the autumn of 1885 this building was taken down and the new one, to be completed in the summer of ISS6, commenced, the corner stone being laid October 30, 1885. On this occasion the box was deposited in the place prepared for it by Miss Kittie C. Drew, the little daughter of the cashier. She performed her part well, using a silver trowel, with a handle of rosewood, which she keeps as a memento of the occasion. The building is constructed of rock-faced Leete's Island red granite, with Springfield brown stone trimmings to the height of the second story window sills ; above this Philadelphia pressed brick are used with
COMECTIEUT NO-ONAL BANK
THE CONNECTICUT NATIONAL BANK, ERECTED IN 1886.
Bridgeport Banks. 345
Springfield brown stone triminings. On the fifth story moulded brick and terra cotta are used, forming a pleasing frieze. There are five full stories above the sidewalk, one half story devoted to stores below grade, and a sub-cellar and boiler-room under these stores.
The banking room is situated on the corner of Main and Wall streets, about five feet above the sidewalk level, and is provided with every modern convenience.
There are eight offices on each floor, reached from the Main street entrance, making thirty-two in all. These are easily accessible, either by stairs or elevator -the latter being constructed on the hydraulic principle and is the first passenger elevator to be used in the city.
A new material to this city has been introduced in the sidewalk, known as Granolithic, and is considered a vast improvement on anything now in use in the city.
Since the organization of the bank the following gentlemen have been con- nected with the institution as directors : Daniel Thatcher, Hanford Lyon, Reuben Twedy, Nathaniel Wade, Josiah Hubbell, Eli Mygatt, David Brooks, Seth B. Jones, Daniel Sterling, Enoch Foote, Lyman Hine, David Fayerweather, Samuel Stratton, Joseph Thompson, J. W. Sterling, Alexander Hamilton, Lemuel Cole- man, Josiah Gorham, E. J. Staples, L. H. Russell, Eben Fairchild, P. C. Calhoun, John Gould, Charles Foote, Hervey Higby, Charles Bennett, George Keeler, Thomas Lord, Samuel C. Trubee, Daniel H. Sterling, Marcus DeForest, Samuel W. Baldwin, William D. Bishop, David F. Hollister, Jarratt Morford, Henry B. Drew, William R. Higby, Marshall E. Morris, Clapp Spooner, Henry A. Bishop.
The Mechanic's and Farmer's Savings Bank was chartered in 1871, but was not organized until in July, 1873, when the incorporators held their first meeting and elected a board of trustees: George W. Hayes, Presi- dent ; Andrew Burke and George Lewis, Vice. Presidents ; and Lyman S. Catlin, Secretary and Treasurer. The bank was located, at first, in a small, one story building on East Washington avenue, near East Main street. This building was erected as a temporary place for the bank, by George Lewis and L. S. Catlin. The books were opened October 1, 1873, and deposits were soon made, ten cents being sufficient to open an account, and many who started with that small sum have now a respectable bank account. The bank remained in that location, with practically the same officers, until the summer of 1878. At the annual meeting of that year Mr. Hayes declined a reelection and William G. Lineburgh was elected president in his place. The bank was removed about September Ist of that year into the basement of the Connecticut Bank building, corner of Wall and Main streets, where it remained until May 1, ISSo, when it was removed into the Barnum building, at 407 Main street. In July, 1883, some changes were made in the board of trustees and Mr. Andrew Burke was elected President, and D. N. Morgan and John L. Wessels, Vice-Presidents. These officers, with Mr. Catlin for Secretary and Treasurer, have been reelected each year since that time. On December 15, 1885, the bank was removed into the City Bank building in Wall street, where it remains. It has grown steadily in public confidence and favor, and is now firmly established, with assets of over $550,000.
44
346
History of Bridgeport.
Additional Manufactories in Bridgeport.
George Doolittle occupies a part of the Coach Lace Company's building in John street. He is a practical engineer and inventor, spending a large propor- tion of his time on experimental work.
Bridgeport Elastic Web Company is located on John street and has the following officers : E. Sterling, President ; F. B. Hawley, Treasurer ; E. W. Marsh, Secretary ; Joseph Bidmead, Superintendent ; E. D. Friswell,:Salesman ; with $50,000 of capital stock. The business was started by the Spring Perch Company in 1879, commencing with seven looms, but this number was soon increased, and then large additions to the buildings were made, extending them to 135 feet by 40. They now run forty looms, but have just purchased twenty-five more. They employ eighty hands, which number will soon be increased to 125.
The work requires skilled help, which has most of it been secured from England, as well as the machinery ; in fact, it might be said that an English concern had been purchased and brought here. They, with four other companies, make, at present, about seven-eighths of all the webbing used in this country, but when they commenced nearly seven-eighths of all used was imported.
Besides the shoe goring, in many shades and qualities, they make some extra elastic for corsets. The yarn used is of American and Egyptian stock, and the silk, to a considerable extent, is imported. Their goods are all handled by one jobbing house at the East, and are sold in the West direct to the consumers.
Ansil H. Couch, manufacturer of a fine grade of ladies' hand and machine-sewed shoes. He was seventeen years engaged on Water street under the firm name of Couch and Wisner, and in September, 1885, commenced his present establishment as sole proprietor. He employs fifty hands, and keeps several men as salesmen on the road.
Bridgeport Patent Leather Manufacturing Company is located on Cannon street ; as a previous account of this company shows. The business was commenced by Mr. S. J. Patterson in IS48, and the next year a stock company was formed, with a capital of $20,000; Mr. S. Tomlinson, being Presi- dent, and S. J. Patterson, Secretary and Treasurer. Upon the decease of Mr. Tomlinson in 1872, Mr. Patterson was elected President and Treasurer, which position he still holds, and Mr. J. E. Pond was elected Secretary, in which he con- tinues. In 1866 the stock was increased to $100,000, as it is at present. They manufacture patent and enameled leather, employing about fifty hands.
The. Wheel and Wood Bending Company is located in John street ; and the officers are : Horace Smith, President ; H. W. Smith, Secretary, and E. C Smith, Treasurer. They manufacture wheels, hubs, spokes, and woodwork gener- ally, for carriages. The business was established as Smith and Barlow in 1854, and continued thus until 1866, when the present company was formed. They employ from thirty to fifty hands.
The H. D. Gates and Company are located in John street, corner of Broad, and manufacture all kinds of fine carriages. The business started by Mr. Gates in 1870, while he was running a livery stable on State street, and began it
347
Manufactories.
because of the heavy expenses in repairing carriages. The business so increased in a short time that he sold the former interest and devoted his entire time to this. He has a large repository in California, where he spends about half of his time, and one at 184 State street in this city, keeping from 160 to 200 carriages on hand. Also in the proper season here they keep a line of sleighs. The larger portion of their work is upon orders from New York, making a specialty of the Bullshead wagon for exercising and training horses. They employ about forty hands.
The Bridgeport Electric Light Company occupy a part of the Coach Lace company's building on John street. The officers are : J. A. Gilbert, President ; James English, Secretary and Treasurer; with a capital stock of $100,000. The company was established in 1884 by J. Farrist, E. G. Burnham and other citizens. In July, 1385, a consolidation was effected with the Brush Swan company when the present officers were chosen. The Thompson Houston system is used. This sketch is a correction of the one on page 767.
The Bridgeport Boiler Works, William Lowe, proprietor. They were established by Humphrey, Watson and Company in 1866, and continued until the death of Mr. Humphrey in 1872, when Mr. Lowe bought his interest and the business was conducted under the name of Lowe and Watson until 1884, and then Mr. Lowe became the sole proprietor. He manufactures boilers for pro- pelling steam engines; the specialties being the Lowe boiler and feed water heater.
Mr. Lowe is thoroughly educated to his business. He was indentured to the firm of Fairbanks, Bancroft and Company, of Providence, R. I., steam engine boiler makers, in 1844, and served under their successors, Bancroft, Nightingale and Company ; and Corliss, Nightingale and Company. Mr. Lowe helped build the first Corliss engine put into use, which was a horizontal one.
In 1851 Mr. Lowe took the foremanship of the Woodruff and Beach Iron Works at Hartford ; and in 1854 he took the foremanship of the Pacific Iron Works of Bridgeport, under Noble T. Green as superintendent, and on Mr. Green's retiring in 1855 Mr. Lowe became superintendent, and in 1872 he became proprietor in these works as above stated. In 1877 Mr. Lowe patented what is called the Lowe steam superheating boiler, and also afterwards the Lowe feed water heater, both being improvements of great value. He has more recently patented valuable improvements in boiler furnaces, and made improvements in boiler fronts, so that the smoke nuisance is abated, whatever fuel may be used.
The Bridgeport Spring Company, located at the corner of Housa- tonic and East Washington avenues, was established in 1864. They manufacture to order carriage springs of every description, employing about fifty hands. The officers are : Edwin Banks, President and Treasurer, and Wm. H. Rockwell, Sec- retary. Their building is of large dimensions, equipped with powerful engines, and all the mechanical appliances which facilitate production of the best quality and greatest quantity. The best of skilled workmen are employed, and the springs are said to be tempered by a process known only to this concern ; and every spring is tested before leaving the shop.
Greenwood and Aruold, located in Cannon street, are manufacturers of tin cans of every description, making varnished cans a specialty. John H. Greenwood and Thomas Arnold, the proprietors, are practical men in their
348
History of Bridgeport.
business. They came from New York and established the copartnership in 1883, and employ about ten men, and work on contracts, for all they produce the year round.
The Bridgeport Lumber Company, located at the foot of Gold street, was organized in 1882, with these officers : C. H. Hawley, President ; R. S. Neithercut, Vice-President ; F. V. Hawley, Secretary and Treasurer. They are successors to C. H. Hawley. The business was started about fifty years ago by Charles Hawley, who, having several partners and changes, continued the same until his death in 1850. Then Julius Hawley, who had been in the business with his brother Charles a number of years, bought the enterprise, and, under the name of Smith and Hawley, carried on the establishment until he was succeeded by his son, C. H. Hawley, in 1876 ; and he continued it until May, 1882.
They manufacture moldings and house trimmings generally, and deal in all kinds of lumber.
The Granniss and Hurd Lumber Company, is located on Simond's dock. They are successors to Lyon, Curtis and Company : the mill having been established in 1846 by the latter company. In 1866 Mr. Granniss purchased a portion of the stock, but the firm name continued the same until 1882, when Mr. Lyon having died in 1874 and Mr. Curtis in 1879 the new com- pany was organized. The present officers are : C. A. Granniss, President, and F. W. Hurd, Secretary and Treasurer, with a capital stock of $75,000. They are dealers in lumber, and manufacture a great variety of building material and cabinet ware in all kinds of wood, employing about seventy-five men.
William F. Swords, lumber merchant and manufacturer of building material, is located on the corner of East Washington avenue and Water street. The business was started in 1852 under the name of Swords and Stilson. The · latter died in 1874, and Mr. Swords continued the business. In 1879 he built the present buildings with all modern improvements. He employs from 75 to 100 hands and conducts a large business for this part of the country.
The Pequonnock Manufacturing Company, located at North Bridgeport, was conducted some years by William R. Bunnell and his brothers James F. and Thomas F. Bunnell, and it was prominent among the first industries in the city.
Wm. R. Bunnell had been for a time connected with the celebrated New York Mills, near Utica, N. Y., where he had gained much practical knowledge in the manufacture of muslins. So interested did he become in the business that he sold a fine grazing farm of 1,100 acres, stocked with 3,000 merino and Saxony sheep, in the towns of Burns and Ossian, Alleghany Co., N. Y., and in 1834 bought the interest of his uncle, Dr. Thomas Fitch, of Philadelphia, in the woolen mills at North Bridgeport. Subsequently the three Bunnell brothers greatly enlarged the establishment, added another mill, imported many English and Welch operatives, and introduced the most improved machinery of the time. They made a high grade of broadcloth, as well as cotton goods. They conducted the business with much success until under the Polk administration the repeal of the tariff brought financial ruin upon them and hundreds of other manufacturers, in 1846. Retiring to the city of Bridgeport Mr. Bunnell resided for many years
£
349
Manufactories.
afterwards in Lafayette street at the head of Liberty street. He was well known as a man of strong religious principles, of strict integrity in all his business trans- actions, and of active Christian benevolence. For ten years he was a city and town assessor, and for eight years clerk of the First Congregational Church. He died November 6, 1872, at the age of sixty-six years.
The Monumental Bronse Company was organized and established in this city in the early part of the year 1874, located on corner of Barnum and Hal- lett streets, and has proved a successful enterprise. About the year 1868 Mr. M. A. Richardson was placed in charge of the Sherman cemetery grounds in Chautau- qua county, N. Y., and during several years of service there became impressed with the need of something more durable than stone for monumental use. His studies in the matter led him first to investigate the qualities of stone china as an article for such use, but after three journeys to Trenton, N. J., and other researches in the matter, turned his attention to the practicability of using galvanized iron for this purpose. In testing this material he made at Buf- falo a small monument, placing stained glass tablets upon it with an inscrip- tion, but after three years he found the stained glass, which he had been told would endure against the weather, pealed off, and hence was of no value in this kind of work. During this time his investigations, by a chance observation, were directed to the qualities of cast or molded zinc, and soon after he came to the con- clusion that this was the article to meet his purposes, and with this he galvanized his monument and took it to his home in Sherman and began to solicit capital, for the purpose of producing this kind of monument. He found Mr. O. J. Willard willing to become partner in the business, and they went to Patterson, N. J., in May, 1873, where they contracted with a firm to manufacture this kind of monu-
Need help finding more records? Try our genealogical records directory which has more than 1 million sources to help you more easily locate the available records.