USA > Connecticut > New Haven County > Waterbury > History of Waterbury and the Naugatuck Valley, Connecticut, Volume I > Part 20
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On February 14, 1916, Mayor Scully appointed the following members of the Waterbury housing committee : E. S. Hunt, Eugene Kerner, R. A. Cairns, F. S.
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WATERBURY AND THE NAUGATUCK VALLEY
Chase, J. P. Elton, John H. Goss. Mr. Hunt was made chairman and Mr. Kerner secretary. At Mr. Nolen's request, this committee sent out a questionaire, to which there was a general response. This gave a basis of existing conditions.
In the Nolen report, the recommendation was made that the main effort be put upon providing single-family dwellings for Class A, that is, for the family whose weekly income exceeds its weekly expenses by an amount sufficient to enable it, within a reasonable period, to become the owner of its home. This family, in Mr. Nolen's opinion, was best provided for in the single family detached or the double semi-detached house, but the building operation was not to be confined to any one type of house. In fact, because of the difference in taste and personal preference, all the approved types submitted should be used. But some single- family houses completely detached, on lots not less than 50 by 100, should be included in the main. Class A should be provided for in outlying sections where the laying out of land and the building operation could be sufficiently large to secure the advantages of wholesale contracts, efficient management and careful planning of the area by a landscape architect along advanced garden suburb lines.
He also recommended that the best methods of providing for Class B, that is, for the family that has acquired title to a building lot, but has not yet built upon it, is to do everything that the committee can do to remove the obstacles :
(A) That suitable house plans be obtained through an architectural competition for which liberal prizes should be offered.
(B) That money be made more readily available through the organization of co-operative banks or building and loan associations.
(C) That the advantages of other buildings that will be undertaken for Class A should be shared with Class B. The extent of this building would in itself stimu- late interest and probably enable the committee to give the lot owner a building at a lower contract than would otherwise be possible. The houses in Class B will be almost entirely in partly built-up sections.
He further recommended that provision for Class C, that is, for the family whose weekly expenses practically equal its weekly income, be made partly by renting the other house in the double house unit owned by a family in Class A, partly by building for rent groups of houses of the types common in Philadelphia and well-illustrated by the Octavia Hill Association, and by the Improved Hous- ing Co. of New Haven, and by the cottage flat of the Toronto Housing Co., Ltd., and partly by tenements that will be vacated when better houses become avail- able.
The movement languished for some months, but later the heads of the fac- tories personally took up the question of proper housing, and important develop- ments followed. In the summer of 1916, two such developments were initiated and ordered under construction by the Scovill Mfg. Co. and the American Brass Company. These housing developments have already been completed and are now in successful operation and use, being occupied by families who are well satis- fied and greatly delighted in having secured, at moderate cost, dwellings which represent, and are so considered by experts, the best effort in the field of economic housing.
Of the several developments carried out by the industries above referred to, the operation conducted by the Scovill Mfg. Co., which consists of one-family brick attached houses, represents both structurally and architecturally an ideal type of workmen's dwellings.
In July, 1916, the W. G. Lynch Realty Co. was brought here for consultation with John H. Goss of the Scovill Manufacturing Co., resulting subsequently in the submission of plans for the erection of fifty dwellings of a type known as a six-room one-family house.
THE SCHLEGEL RESIDENCE, WATERBURY
RESIDENCE OF JOHN BOOTH BURRALL, CHURCH STREET. WATERBURY
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WATERBURY AND THE NAUGATUCK VALLEY
In August, 1916, ground was broken on an easily-accessible tract of land owned by the Scovill Manufacturing Co. At the outset a group of five houses was imme- diately constructed and sold to the employees of the company. At the same time efforts were directed toward the immediate completion of one of these buildings, so as to exhibit the structure as a sample house, with the result that applications for these houses became so numerous that the Scovill Manufacturing Co. ordered the erection of 137 dwellings in all.
Although these dwellings were erected in rows covering several blocks, a most pleasing effect was created by breaking the monotony of the houses through vary- ing the architecture of the fronts in groups of from two to four dwellings. In exterior design and treatment, these groups include the Dutch, English, Italian and Colonial types, and are extremely pleasing in appearance. In many instances front elevations were also modified, as circumstances and economic practice per- mitted, by altering the lines of the masonry and porches, careful study being given likewise to creating effective color schemes in order to emphasize the various styles of architecture of the groups. In this manner the severity of the long, straight lines of the buildings was broken and made to harmonize with the natural contour of the land and grades of adjacent streets.
The houses in the Scovill development are built on standard size street blocks, having a width of 200 feet from street to street. This space is sub-divided and utilized as follows: An area of 24 feet in depth is reserved in front of the dwell- ings adjacent to the street, the houses measuring 32 feet in depth with a 20-foot courtyard in the rear and a 10-foot service alley for commercial purposes, and a 14-foot space reserved for park and playground purposes.
The houses measure 16 feet between the centers of party walls and 32 feet in depth. The buildings are constructed of brick masonry, erected on substantial concrete foundations supported by massive concrete footings.
The area in front of the dwellings was filled in for the purpose of creating a terraced space in front of each house. These terraces are, in every instance, neatly regulated and graded, and conform to the grade of the adjacent streets.
At the rear of each house a door opens directly into the basement at the grade of the courtyard. The basements contain hot air furnaces, hot water boiler, gas hot water heater, coal bins, and stationary wash tubs, and also ample storage space. The basement floors are cemented and the concrete walls are whitewashed. In fact, these basements are so light, dry and airy that in many cases they are being used as summer kitchens. The cellar can also be entered from the kitchen.
The kitchen contains many facilities, such as gas stove and pantry, sink and hot and cold water.
The house contains six rooms and bath. Every room opens either to the front or to the rear and is provided with large windows. All rooms have direct ventila- tion, the bathroom being lighted and ventilated by large overhead ventilating sky- lights.
The houses are electric lighted throughout, with indirect lighting fixtures in dining and living rooms. Electric light wires run in conduits for service for the entire development, running through the foundations along the rear of each row inside the foundation walls, each house having its own outlet. Telephone conduits run in the same manner along the front of each cellar, with separate outlets for each house.
The first fifty houses were sold at $3,000 each. The next twenty were sold at $3,600. The material for the first fifty houses was bought when the contract was placed, but when the contract was increased, the prices of material had advanced.
Waterbury is an expensive city to build in, however, because of its hilly con-
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tours and rocky soil with water pockets, frequently producing swampy conditions. Even with present prices of materials, this house, slightly modified, should be pro- duced for approximately two thousand five hundred dollars, wherever expensive blasting, filling, excavating and underdrainage can be avoided.
The housing development undertaken by the American Brass Co. differs ma- terially from that of the Scovill development, the American Brass Co.'s being pat- terned after a high class residence park, and on a scale which in every respect meets with the requirements of their employees.
Briefly described, their development encompasses a tract or land, about twelve acres, in the eastern section of the city, two miles from the main center. Improve- ments were undertaken in September, 1916, which consisted at first of regulating and grading the street system after a carefully designed plan which preserved the natural features of the property, at the same time creating a residence park effect.
The main entrance to the property is at East Main Street, near Mad River, which flows through a part of the property. The entire property contains approx- imately eighty-five building sites, the average dimensions of which are 50 by 100 feet.
The engineering features throughout the entire property are carefully designed and substantially executed. The tract is provided with all improvements, such as gas, city water supply, sewerage, electric lighting for streets and houses, well regulated and graded streets, park and playground reservation, surface water drainage, and a private park along the Mad River, for the use of the residents. Sidewalks and well-kept lawns are also provided.
The first group of buildings erected on the premises consisted of twenty frame dwellings, so spaced as to provide ample area in front of each dwelling to the street lines.
The average dwelling is about 25 by 23 feet, and contains a living room, dining room and kitchen on the first floor, and three bedrooms on the second floor, with bathroom.
The foundations of these structures are of first-class concrete masonry, on footings of the same material. The cellar floors are concreted and cemented, and the cellars may be entered from the inside and outside of the dwellings.
Immediately prior to the completion of the first group of twenty dwellings, the American Brass Company decided to erect eight additional structures, but of a type superior in some respects to those in the first group.
Of the thirty dwellings erected by the company under this housing project, practically all have been sold, and in some instances, selections were made by the employees before the structures were placed on sale. The families occupying these houses speak very highly of them, and are well satisfied and contented with their purchases.
The Chase Metal Works have thus far constructed ten model houses, much on the plan of the Scovill buildings, and this is to be greatly increased in the near future.
The Oakville Company has also now started with a group of ten model houses, which is to be greatly extended next spring.
The Waterbury Tool Company, under the personal direction of its president, Horace G. Hoadley, has erected at one end of its large holdings nine model houses, which are rented to employees. A street has been made and five of these homes are on one side, four on the other. Two of them are five-room and the others six-room cottages. They are modern in every respect and make ideal homes at nominal rents. The company has also erected two double houses, in the Bunker Hill section. These are for four families. The twin houses have twelve and
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WEST MAIN STREET. FRONT OF HODSON'S, WATERBURY
1
WEST MAIN STREET ARCHITECTURE, WATERBURY From left to right: Colonial Trust Company : Hampson and Lilley Buildings. Viewed from the green.
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WATERBURY AND THE NAUGATUCK VALLEY
fourteen rooms, respectively, making two six-room dwellings and two seven-room dwellings.
Aside from the splendid work done by the larger manufacturers in the way of improving housing conditions, there has been a decided growth in the way of home construction in all parts of the city, particularly in the eastern and northwestern sections.
In 1914 the building record shows permits taken out totaling in value $1,800,- 000. Of these 55 were for frame tenement houses, each for three or more fami- lies. These provided for over twelve hundred people. In addition there were 70 frame and 8 brick buildings erected.
In 1915 the total permits numbered 748, and the value of buildings erected increased to $2,600,350. Sixty-four were buildings erected to house from two to six families each, and 105 separate dwellings made up the records of home building for that year.
In 1916 the record shows 1, 106 permits, value $4,270,000. Of these permits the bulk was for factory construction. The number of frame tenements built for three or more families was 91. The number of buildings for two or more families was 8, and the number of separate frame dwellings was 217.
For 1917 the record shows the same proportionate gain and up to November Ist the permits for dwellings and tenements issued equaled or very nearly equaled the total of 1916.
Vol. 1-10
CHAPTER XI
BANKING AND INSURANCE
CAPITAL AND SURPLUS OF ALL WATERBURY BANKS-DEPOSITS-A FIVE YEAR RECORD OF CLEARINGS-THE YEAR 1916 A BANNER PERIOD FOR DEPOSITORS IN SAVINGS INSTITUTIONS-MONEY LARGELY INVESTED IN MORTGAGES ON WATER- BURY REAL ESTATE-HISTORY OF ALL THE BANKS AND TRUST COMPANIES-LIST OF OFFICIALS, PAST AND PRESENT-RECENT INSURANCE HISTORY.
In 1892 there were in Waterbury seven banks and these, including the savings institutions, had a banking capital of $1,350,000. For a town which by the census of 1890 had a population of less than thirty thousand, this was a splendid show- ing, and in the total deposits of between $6,000,000 and $7,000,000 reflected the growing industrial wealth of the community.
From the reports issued by the national banks and trust companies of Water- bury in the summer of 1917 and by the savings banks on October 1, 1916 (the date of the last annual report to the State Banking Department), it is found that the total deposits in the banks of Waterbury are now $44,300,748.50. The capital stock and surplus of the national banks and trust companies, aside from the exclusive savings banks, is approximately three million dollars. Of this $1,168,- 451.20 represents the surplus.
In publishing these figures it is perhaps well to add that they do not represent the full amount of what may be termed Waterbury deposits. As a matter of fact, there are today in Waterbury several concerns whose business is so extensive as to compel the additional use of New York banks for purposes of deposit and for draft facilities. It is utterly impossible to ascertain even approximately the volume of this business, some bankers placing it at 10 per cent of the totals for Waterbury commercial banks, others as high as 25 per cent.
The capital and surplus of national banks and trust companies are as follows :
Capital and Surplus.
Waterbury National Bank $ 900,000.00 Colonial Trust Co.
935,451.20
Citizens National Bank
450,000.00
Manufacturers National Bank
300,000.00
Merchants Trust Co. 188,000.00
Waterbury Trust Co. 255,431.35
Total
$3,028,882.55
Deposits of all banks of Waterbury at dates given above are as follows :
DEPOSITS OF WATERBURY BANKS, 1917 (Savings Banks, October 1, 1916)
Waterbury Savings Bank $10,176,870.80
Dime Savings Bank
7,107,324.24
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WATERBURY AND THE NAUGATUCK VALLEY
Colonial Trust Co.
7,033,538.09
Citizens National Bank
5,000,000.00
Manufacturers National Bank
4,060,445.09
Waterbury National Bank
3,883.983.10
Waterbury Trust Co.
3,102,329.44
West Side Savings Bank
2,143.766.34
Merchants Trust Co.
1,792,491.40
Total
$44.300.748.50
The savings bank deposits on October 1, 1917, were: Waterbury Savings Bank, $10,091,552.04 ; Dime Savings Bank, $7.636,444.20; West Side Savings Bank, $2,667.732.41.
THE WATERBURY CLEARING HOUSE
It is now five years since the Waterbury Clearing House was established by the commercial banks. Its work is done in each bank, alternately for two months. At present the manager of the Clearing House is Lewis S. Reed, vice president of the Manufacturers National Bank.
The table of clearings which follows does not reflect the total business cleared monthly by the banks of Waterbury, for there is still much of the business done by each bank by the old self-clearing method.
The Clearing House made its first report on March 31, 1912, and the record by months, showing comparative figures, up to March 1, 1917, is as follows :
March
1912-1913 $ 3.056,600
1913-1914 $ 3.921,700
1914-1915 $ 4,048,500
1915-1916 $ 4,529.400
1916-1917 $ 7.442,300 8.305,200 9,300,700
May
4,240,600
4,339,600
June
4,103,500
4.387,300
9,148,800
July
3.899,200
August
3,499,700
4,156,900 3,802,300 3,923,100
September
3,295,500
October
4,144,900
4,721,300
November
4,156,800
3.986,700
December
3.766,000
4,273.700
January
4,391,800
4,588,300
4,995,700
8,424,900
February
3,650,800
3,843,000
4,134,400
6,805,800
9,950,100 10,013,700 11, 174,700 8,807,600
$46,181,900
$50.431.300
$51,988,400
$74.116.300 $108,844,800
April
3,976,500
4,487,400
4,781,300 4,427,200 4,907,400 4,633,500 3,616,800 3,566,600 4,358,200 3,953.300 4,565,500
5,331,400 5,605,300 6,675,900 6,699,700 7,336,800
5,065,900 5,303,500 6,145,700 6,192,000 9,091,800 7.726,200 8,333,100 9,550,600
The bankers of Waterbury, largely through the Clearing House Association, but with the close co-operation of the savings banks, organized the work of selling Waterbury's quotas for both the first and second Liberty Loans with such success that in both instances the city exceeded its quota.
THE SAVINGS BANKS
It is in the records made by the savings banks of Waterbury that the prosperity of the city is most clearly reflected. The year 1916 was the banner period in the history of the city, and the figures which follow are little short of phenomenal in the matter of growth. The year 1917 showed a continuing increase, both in the net increase of depositors and in the amount of deposits, but the Liberty Loans
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WATERBURY AND THE NAUGATUCK VALLEY
had their effect here, as well as elsewhere, in diverting a considerable amount of savings into that patriotic channel.
The following table compiled from the state report of date October 1, 1916, are illuminating on the savings bank records of this phenomenal year. To make an accurate total there should be added like records from the savings department of the Manufacturers National, from which, as it is under federal control, no statement of purely savings deposits is available. Its savings accounts number about seven thousand.
Number of accounts opened Number of October, 1915 accounts closed Net to October, 1916 same period Gain
Dime Savings Bank
5,276
2,990
2,286
Waterbury Savings Bank
4,815
1,882
2,933
West Side Savings Bank. .
2,247
847
1,400
Waterbury Trust Co. (Savings Dept.)
1,525
600
925
Merchants Trust Co. (Savings Dept.)
745
296
449
Amount deposited October. 1915, to October, 1916
Amount withdrawn same period
Net increase in deposits $1,117,515.83
Dime Savings Bank.
$2,711,781.78 $1.594,265.95
Waterbury Savings Bank
3.367,621.83
1,820,780.98
1,546,831.20
West Side Savings Bank
1, 185,974.98
590,894.58
595,080.40
Waterbury Trust (Savings)
947,705.25
488,097.69
459,607.56
Merchants Trust (Savings)
622,152.81
235,748.23
386,404.23
$8,835.236.65
$4.729.787.43 $4,105,449.22
The amounts deposited include interest credited for the year.
Number of
depositors
having less than $1,000
Amount
Dime Savings Bank
17,369
$2,838,494.43
Waterbury Savings Bank.
12,983
3.148,146.15
West Side Savings Bank.
4,659
1,010,995.23
Waterbury Trust ( Savings )
2,383
462,468.34
Merchants Trust (Savings)
1,937
298,550.90
39.331
$7,758,655.05
Number of depositors having $1,000 to $2,000
Amount
Dime Savings Bank
1,383
$1.794,477.90
Waterbury Savings Bank
1.795
2,406,714.28
West Side Savings Bank
412
544,233.12
Waterbury Trust ( Savings)
172
214,481.90
Merchants Trust ( Savings)
III
145,361.15
3,873
$5,105,268.35
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WATERBURY AND THE NAUGATUCK VALLEY
Number of depositors having $2,000 to $10,000
Dime Savings Bank
686
Amount $2,291,686.31
Waterbury Savings Bank
927
3,299,372 89
West Side Savings Bank.
180
543,101.52
Waterbury Trust (Savings)
123
424,068.07
Merchants Trust (Savings)
73
297,227.56
1,989
$6,955,448.35
Number of depositors having over $10,000
Amount
Dime Savings Bank
13
$ 182,665.60
Waterbury Savings Bank
28
375,595.93
West Side Savings
4
45,436.23
Waterbury Trust (Savings)
9
110,522.4I
Merchants Trust (Savings)
8
161,887.00
62
$ 876,107.17
Including the savings department of the Manufacturers National, which has about seven thousand accounts and savings deposits of approximately one million six hundred thousand dollars, there were in Waterbury on October 1, 1916, close to fifty-two thousand two hundred and eighty distinct savings deposits, amounting to $22,295,478. Of these over twenty-two hundred, ranging from two thousand dollars to ten thousand dollars, and approximately forty-two hundred, ranging from one thousand dollars to two thousand dollars.
One of the gratifying evidences of the helpfulness of the savings banks in the growth of the community lies in the nature of the investments made. All of them are heavy holders of mortgages on Waterbury real estate. In the case of the Waterbury Savings Bank, the amount loaned on Waterbury real estate amounts to nearly four million dollars, and in the other savings institutions, proportionately as much. The West Side has over seventy-five per cent of its deposits loaned on Waterbury real estate.
The Morris Plan Bank of Waterbury, with capital stock of $56,204 paid in, was organized in August, 1915, and opened for business September 30, 1916. According to its report filed with the state October 1, 1916, it had loans outstand- ing amounting to $85,415. Its officers are as follows: President, Arthur R. Kimball; vice presidents, John H. Goss, John P. Elton ; secretary and treasurer, Curt T. Illing ; directors, Bennett Bronson, John B. Burrall, Terrence F. Car- mody, Irving H. Chase, George A. Driggs, Theodore I. Driggs, John R. Hughes, John P. Kellogg, Arthur R. Kimball, Theodore Lilley, Fred E. Linder, Frederick G. Mason, Charles T. McCarthy, George Rockwell, Archer J. Smith, Charles E. Spencer, Jr., Leavenworth P. Sperry, Arthur D. Variell, Harris Whittemore. B. P. Merriman.
This is, of course, purely a loan bank, organized on a plan extending all over the country with a view to keeping those who are in need of immediate funds in small amounts from coming into the clutches of loan sharks ..
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WATERBURY AND THE NAUGATUCK VALLEY
WATERBURY SAVINGS BANK
The Waterbury Savings Bank is the oldest savings bank in Waterbury, hav- ing been founded by F. J. Kingsbury in 1850. It has now grown to be the largest bank in Western Connecticut.
In 1892, the forty-second year of its existence, its deposits amounted to a little over three million dollars. Ten years later, in 1902, nearly two million more had been added to the deposits, and on October 1, 1912, the amount on deposit in the bank was $6,901,087.13, making another $2,000,000 addition. During the period of four years and four months, from October 1, 1912, to February I, 1917, the bank has had a phenomenal growth, due to the corresponding growth of the city in size and wealth. The deposits on February 1, 1917, were $10,176,- 870.80, belonging to 17,096 depositors. Nearly four million dollars of this amount was loaned on mortages on Waterbury real estate. Thus the bank, during the long period of its existence, has not only kept these many millions of deposits safely, but has greatly assisted the city and its people by providing large sums of money towards the building of homes and business buildings.
F. J. Kingsbury, the founder of the bank, who during his long life, occupied a very prominent position in the life and affairs of the city, was secretary and treasurer,-the chief executive officer,-from 1850 to 1909, when he became assistant treasurer, which office he held at the time of his death on September 30, 1910. To his wise management was due in large measure the strength of this large institution.
On January 1, 1906, Edwin S. Hunt, the present secretary and treasurer, became connected with the bank as assistant treasurer. Mr. Hunt, at the time of his election, was a practicing lawyer in Waterbury and had been tax collector during the years 1904 and 1905. On Mr. Kingsbury's retirement, in 1909, he became secretary and treasurer, which position he still holds.
In 1892, Edward L. Frisbie was president of the bank, which office he con- tinued to hold until 1909, the time of his death. His familiarity with the city, his knowledge of real estate values, and his shrewd common sense were of great valute to the bank. On Mr. Frisbie's death, George E. Terry was elected presi- dent, and still holds that office.
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