USA > Connecticut > New London County > Stonington > History of the town of Stonington, county of New London, Connecticut, from its first settlement in 1649 to 1900 with a genealogical register of stonington families > Part 15
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The Allen Spool and Printing Company, organized as a joint stock corporation in Norwich, Conn., October 31st, 1879, and removed to Stonington January 28th, 1889, and located their plant near Pistol Point at Mystic, where they have prosecuted a successful business, employing the requisite number of persons necessary for its success. Edwin. Allen, President; George Dimock, Secretary.
The Mystic Valley Water Company was incorporated under and by virtue of a resolution of the General Assembly of the State
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MILLS AND MANUFACTURING.
of Connecticut, April 13th, 1887, the object and purpose of which was to furnish pure fresh water for the inhabitants of Stonington Borough, the Mystics and Noank. The company was organized agreeably to its charter, elected its officers and commenced operations during the summer of 1887, selecting its water from the Mistuxet Brook in Stonington, purchasing the necessary real. estate for its dam flowage, pumping station and reservoir, laying its pipes to the villages aforesaid; furnishing water to its cus- tomers agreeably to the provisions of its charter, successfully operating its plant with increasing demand for its water supply. The officers of the company for 1897 were: Thomas E. Packer, Mystic, President; George E. Grinnell, Mystic, Secretary ;: William Wheeler, Boston, Treasurer. Directors: Lucius H. Fuller, Putnam; Edward E. Fuller, Putnam; Edward Mullan, Putnam; Thomas E. Packer, Mystic; Henry B. Noyes, Mystic ; William Wheeler, Boston; D. B. Spalding, Stonington.
The Mystic Industrial Company was organized under the laws. of this State as a joint stock corporation, Feb. 5th, 1894, for the manufacture of velvet goods. The plant thereof is located at Greenmanville, near Mystic, on the Stonington side. The officers are Benj. F. Williams, President; John S. Heath, Vice- President ; C. H. Latham, Secretary and Treasurer ;. Directors : H. B. Noyes, B. F. Williams, Wm. N. Latham, Elias Williams, C. L. Allen, J. S. Heath, D. F. Packer, R. D. Hiersch and Ferd. Avery.
It is not certainly known when the mill dam below Pawca- tuck Bridge was built, but probably before 1760. If that dam or any of the up stream dams on Pawcatuck River below the Ashaway junction had been built before that time, the Con- necticut General Assembly would have been called upon to enact a law before 1760, which is the date of the first law of Connecticut compelling the owners of dams on that river to open them during the spring season for shad and alewives to pass up to make their annual deposits. Connecticut passed sim- ilar laws for other rivers, some before 1760, and others later.
Formerly a grist-mill stood on the Connecticut side, a short distance below the bridge, which has been supplemented by the saw and planing-mills of the Messrs. Maxsons, in aid of their extensive and successful building operations, and other build- ings for manufacturing purposes have been erected between
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HISTORY OF STONINGTON.
them and the bridge. The steam mill on Mechanic street, at Pawcatuck, in Stonington, which was operated by the Moss Manufacturing Company in making cotton goods until 1888, when it changed owners and became the property of the Crefeld Mills Company, organized and existing under and by virtue of the laws of the State of Connecticut, has been enlarged and successfully operated.
Messrs. Cottrell & Babcock commenced business at Pawca- tuck in 1855, employing a large number of men in manufacturing machinery of all kinds. Later on they confined their operations principally to the construction of printing presses. In 1880 Mr. Cottrell bought out the interest of his partner therein and or- ganized another partnership known as C. B. Cottrell & Sons, who enlarged and successfully operated said plant until his death, after which his sons continued the business of the part- nership in making printing presses of up-to-date inventions, employing a large number of men in their successful business.
At the village of Stillmanville there was built a dam and saw mill on the Connecticut side of the river, when, it is not known. It was owned and operated at one time by Mr. John Congdon, who added an oil mill, and after a while he sold his entire prem- ises to Mr. John Schofield, an Englishman, who introduced carding, spinning, weaving, fulling and dressing of woolen goods. Mr. O. M. Stillman bought this property in 1831, and by industry and various important inventions, added largely to his wealth and to the beauty of the village of Stillmanville. Mr. Stillman built a bridge across the river at that village, which is now public property. The O. M. Stillman factory is now owned and operated by the Messrs. Arnold Brothers, in connection with their mills on the Rhode Island side of Pawcatuck river, under the firm name of the Westerly Woolen Company.
In 1891 the Clark Thread Mill Company purchased of the Messrs. C. B. Cottrell Company a tract of land on the old historic Paul Babcock farm, and erected thereon a large brick establishment with surrounding buildings thereto attached, which plant is now successfully operated by the Thread Mill Company, employing a large number of persons.
Five granite quarries have been opened and worked in Ston- ington, one at Quiambaug, one at Taugwonk, one at Pequot- sepos, and two on the farm of the late Thomas Hinckley.
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MILLS AND MANUFACTURING.
A wind-mill at Stonington Point was erected before the Revo- lutionary war, and as such was used in grinding corn and other grains for several years, but could not compete with the water power mills in town, and so was given up.
John F. Trumbull, Esq., in 1851, built a stone factory in Stonington Borough, which was first used for the manufacture of horse shoe nails. In 1861 the Joslyn Firearms Company was formed, under the joint stock corporation laws of Connecticut, which leased this factory for their business. The close of the war of the Rebellion ended the demand for their goods and the company went out of business in 1864.
The Standard Braid Company was organized in 1866, with a capital of $100,000 and purchased this building and went forward with their business, but the great reduction in the price of their goods and heavy losses compelled them to suspend. Nothing was done in this factory for some time, nor until the Atwood Machine Company purchased the factory and commenced mak- ing machinery therein for the manufacture of silk goods. Under the skillful management of this company their business has increased to such an extent that they have been compelled to enlarge the factory, and have their hands full to fill their orders. They give constant and remunerative employment to about one hundred and fifty men.
A company for the manufacture of textile goods was organ- ized in the Borough which did not succeed to the satisfaction of its stockholders, and soon went out of business.
The Stonington Manufacturing Company was organized in 1869, with a capital of $10,000, for the purpose of making household furniture; commenced and carried on their business for a short time and then closed out the same.
The Stonington Jewelry Company was formed in 1873, and subsequently its capital was increased, and after about two years went out of business.
The Stonington Steamboat Company was organized in 1867, with a capital of $500,000. In order to make a satisfactory terminus for its new line of boats in Providence, they changed their base and organized the company as a Rhode Island cor- poration.
The Stonington Building Company organized as a joint stock corporation, Dec. 19th, 1891, with a capital of $21,500, which
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HISTORY OF STONINGTON.
was invested in a building now known as the Silk Velvet Fac- tory, which is occupied and operated by the American Velvet Company. Charles A. Wimpheimer, of 131 Spring street, New York city, superintendent. Business operations have been so successful as to require an enlargement of the plant, which was accomplished by adding to its capital $14,500, aggregating $36,000. Officers : Samuel H. Chesebrough, President; F. B. Noyes, Secretary and Treasurer; Directors: Samuel H. Chese- brough, James Pendleton, Edward E. Bradley, D. Burrows Spalding.
BANKING.
The first effort of the citizens of Stonington to obtain banking facilities was in the year 1805. A few prominent men associated themselves under written articles, which, when approved and adopted by the Legislature, were designed to become the funda- mental articles of the constitution of the bank, as follows :
"Articles of Agreement between the subscribers to the Washington Bank, to be established in Stonington, Connecticut, are as follows:
"Article 1st .- The capital stock of the bank shall consist of not less than fifty thousand, nor more than one hundred thousand dollars, and shall consist of one thousand shares of fifty dollars each.
"Article 2d .- The subscription shall be payable in four equal payments, the first to be made on the 1st day of March next, when the subscription shall be closed, the second on the 1st day of May, the third at the distance of three calendar months from the second, and the fourth at the distance of three calendar months from the third, unless the directors shall think best to suspend or postpone the payment of the fourth payment to such time or times as the directors may think proper, in which case the directors shall give reasonable notice to the stockholders. The payment to be made in silver or gold coin current in the United States. If there shall be any failure of the first payment on any share, the subscription for such share shall be void. If there be any failure of the second payment, the first shall be forfeited to the bank, and the subscription shall be void; and in case of any failure of the third and fourth payment of any shares, the money paid in previously to such failure on said shares shall be forfeited to said bank and the sub- scription be void.
"3d .- The capital of the company shall not be employed otherways than in the ordinary course of banking business, and shall not trade in anything except bills of exchange, gold, negotiable notes, or silver bullion, or in sale of goods pledged for money lent and not redeemed in due time, or in lands taken for debts previously contracted, nor shall the corporation take more than at the rate of six per cent. for or upon its loans.
"4th .- The stock of said corporation shall be assignable or transferable only at the bank by the stockholder owning such stock, or by his agent or atttorney duly authorized for that purpose, in such way, manner, and under such reg- ulations as may be instituted by the laws of the said corporation.
"5th .- The affairs of the bank as to all matters not herein regulated shall
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HISTORY OF STONINGTON.
be under the management of eight directors, and there shall annually, on the - -day of in each and every year, after the first meeting, be a choice of directors to serve for one year, and the directors, at their first meet- ing after their election, shall choose one of their number as president, and none but stockholders shall be eligible as directors.
"6th .- The number of votes to which each stockholder shall be entitled shall be according to the number of shares he may hold, one vote to each share to be given in by himself, or by any person by him legally authorized and appointed for that purpose.
"7th .- Any stockholder or more who hold sixty shares in said company may call a general meeting of the stockholders for purposes relative to the insti- tution, giving at least one week more notice in the public Gazette, or by giving personal or actual notice under his or their hand to each stockholder, specifying the time, place, and object of said meeting.
"8th .- No director shall be entitled to any compensation for his attendance on the business of the bank, unless allowed him by the stockholders at a general meeting, and not less than three directors shall constitute a board for doing or transacting any business of the bank, and in case of death, resignation or removal from office of any director, his place may be filled by a new choice for the remainder of the year.
"9th .- Dividends of the profits of the bank shall be made once in every six months or so much thereof as shall appear to the directors advisable, and the state of the bank shall be made known by the directors at a general meeting of the stockholders whenever they are thereto required.
"10th .- Every cashier, treasurer, or clerk employed in the bank shall, before entering on the duties of his office, give bond with two or more sureties, to the satisfaction of the directors, in such sum as the directors shall order, conditioned for the faithful discharge of his trust.
"In witness whereof we have hereunto set our hands this 12th day of October, 1805.
"WILLIAM WILLIAMS,
"CODDINGTON BILLINGS,
"JOHN DENISON, JR. "THOMAS SWAN, JR.
"STILES PHELPS,
"JONATHAN PHELPS,
"WILLIAM LORD,
"ELISHA DENISON."
For reasons not now fully understood the Legislature did not charter the bank provided for in the foregoing articles of asso- ciation, nor was there any bank chartered and established in this town until 1822, when the Stonington Bank was chartered and located at Stonington Borough. Col. William Randall was in the Senate that year, and it was mainly through his influence that the charter for the bank was obtained. He was elected its first president, and held the office until his health compelled
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BANKING.
him to resign. He was succeeded in the presidency by Gen. William Williams, who in turn was succeeded by the Hon. Ephraim Williams, followed by Francis Amy, Esq. The bank commenced and carried on business successfully until after the close of the Rebellion, when heavy losses compelled it to sus- pend, and its affairs soon wound up by receivers, paying forty per cent. on the dollar of the original stock.
Old Mystic National Bank .- This bank was chartered by the General Assembly in June, 1833, with a capital of fifty thousand dollars. The stock was assigned, and the officers elected were as follows, viz .: Elias Brown, Elisha Faxon, Elisha Haley, John Hyde, Asa Fish, Latham Hull, Nathan Daboll, Stephen Haley, Silas Beebe, George W. Noyes (2), Elias Hewitt, and William H. Woodbridge, directors, who elected Elias Brown, president, and George W. Noyes (2), cashier. In 1865 this bank was changed into a national institution, under the laws of Congress. It continued in business until July 7th, 1887, when by a vote of the stockholders thereof it went into voluntary liquidation, paying $11536 per $100 of the capital stock.
The officers of the bank at the close of its business were Nehemiah M. Gallup, Allen P. Williams, Jabez Watrous, Jr., John L. Manning, John Forsyth, directors; Nehemiah M. Gal- lup, president ; Jabez Watrous, Jr., cashier.
Pawcatuck National Bank .- This institution was chartered by the Legislature in July, 1849, with a capital of seventy-five thousand dollars. The bank was organized and elected its officers as follows, viz .: O. M. Stillman, John Brown, Thomas Hinckley, Jonathan Maxson, Jr., Francis Sheffield, D. C. Pen- dleton and Asa Fish, directors; O. M. Stillman, president ; John A. Morgan, cashier.
In 1866 this bank was changed under a law of Congress into a national institution, with a capital of eighty-five thousand dollars. The present board of directors are Peleg Clark, Peleg S. Barber, Charles H. Hinckley, J. Daniel Davis, E. H. Knowles ; Peleg Clark, president; Peleg S. Barber, vice-president; J. A. Brown, cashier.
First National Bank of Stonington .- This bank was char- tered by the Legislature of 1851 as the Ocean Bank, with a capital of one hundred thousand dollars. The bank was duly organized under its charter, and the stock regularly assigned.
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HISTORY OF STONINGTON.
The first board of directors were Charles P. Williams, Gurdon Trumbull, William Hyde, Jr., Stiles Stanton, A. S. Matthews, Latham Hull, Jr., and F. C. Walker; Charles P. Williams, president ; W. J. H. Pollard, cashier. This bank was national- ized Feb. Ist, 1865, and its capital increased to two hundred thousand dollars, and the board of directors were reduced from seven to five persons; and at present are as follows : William J. H. Pollard, Moses A. Pendleton, Frank B. Noyes, N. A. Pen- dleton, Samuel C. Langworthy; William J. H. Pollard, presi- dent; Moses A. Pendleton, vice-president; N. A. Pendleton, cashier.
National Bank of Mystic Bridge .- This bank was organized Feb. 8th, 1864, by articles of association bearing that date, with a capital of one hundred thousand dollars, which was increased to one hundred and fifty thousand dollars, with which business was commenced. The first board of directors were Charles Mallory, Charles H. Mallory, David D. Mallory, George W. Mallory and Benjamin E. Mallory; Charles Mallory, president ; Elias P. Randall, cashier. The bank continued in business until May 21st, 1894, when by a unanimous vote and consent of its stockholders went into voluntary liquidation, and closed its business operations at that date, except in liquidation. The officers of the bank at the close of its business were Francis M. Manning, George H. Greenman, Henry B. Noyes, J. Alden Rathbun, Elias P. Randall, directors; Francis M. Manning, president ; Elias P. Randall, cashier.
Stonington Savings Bank .- This bank was chartered in 1850, incorporating Charles P. Williams, Gurdon Trumbull, William Hyde, Jr., Ephraim Williams, John F. Trumbull, Stiles Stanton, Hiram Shaw, Oliver B. Grant, Jesse N. Brown, Benjamin Pomeroy, Francis Pendleton, Joseph E. Smith and Horace L. Niles, under the name and style of the Stonington Savings Bank. The present board of directors are: Richard A. Wheeler, Wil- liam J. H. Pollard, Daniel B. Spalding, Moses A. Pendleton, Oscar F. Pendleton, George H. Robinson, Horace N. Pendleton ; Richard A. Wheeler, president; William J. H. Pollard, vice- president ; Daniel B. Spalding, secretary and treasurer.
The People's Saving Bank .- This bank was chartered in 1886, incorporating Peleg S. Barber, C. B. Cottrell, Charles Perrin, Stanton Hazard, Charles H. Hinckley, Charles Richmond,
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BANKING.
Benjamin G. Richmond, Charles H. Browning, Calvin Davis, John McDonald, William F. Watrous, A. R. Stillman, and their successors, under the name and style of the People's Savings Bank. Said corporation to be located in the village of Pawcatuck, in the town of Stonington, County of New Lon- don. The present board of trustees are: Peleg S. Barber, C. B. Cottrell, Peleg Clark, C. H. Browning, E. H. Knowles, D. M. Newell, and C. G. Stanton; Peleg S. Barber, president; C. B. Cottrell, vice-president; J. A. Brown, secretary and treasurer.
1
RAILROADS.
The first railroad in Stonington was incorporated in May, 1832, under the name of the "New York and Stonington Rail- road Company," with the following named persons as corpor- ators, viz .: Charles H. Phelps, Gurdon Trumbull, Peter Crary, William H. Woodbridge, William W. Rodman, George E. Palmer, Charles H. Smith, William C. Denison, Courtlandt Palmer, N. A. Norton, Joseph Goddard, and their associates, successors and assigns. The first board of directors were John S. Crary, S. F. Denison, Charles H. Phelps, Gurdon Trumbull, Courtlandt Palmer, F. A. Norton, and Joseph Goddard. The May session of the General Assembly of this State, in 1833, passed a resolution merging the New York and Stonington Railroad Company in the New York, Providence and Boston Railroad Company, a corporation previously chartered by the State of Rhode Island, to take effect on the Ist day of July, 1833, on condition that the Legislature of that State would before that time pass a similar act or merger of their company with ours; which when accepted and adopted by such aforesaid cor- porations, the railroad from Stonington to Providence should be known and operated under the name and title of the "New York, Providence and Boston Railroad Company." The State of Rhode Island passed such an act, and both corporations accepted and adopted the merging acts of both States, and the railroad has been so known and operated ever since.
The next and only other railroad company in Stonington was chartered in 1852, under the name of the "New London and Stonington Railroad Company," embodying as corpor- ators Charles P. Williams, Thomas Fitch (2), Charles Mallory, Asa Fish, Frederick R. Griffin, Henry L. Champlain, Nathan G. Fish, Charles C. Griswold, Belton A. Kopp, E. E. Morgan, B. C. Baxter, Henry Hotchkiss, William P. Burrall, N. S. Perkins, Jr., F. W. Lawrence, J. Hammond Trumbull, Benjamin
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RAILROADS.
F. Palmer, Isaac Randall, Louis Bristol, Matthew Morgan, John W. Hull, John P. C. Mather, and Ralph D. Smith, et al. This road was to extend from the river Thames easterly to a junction with the track of the New York, Providence and Boston Railroad in Stonington. It was not built for several years, nor was it finished until it was consolidated and merged with the New Haven and New London Railroad Company in 1856, under the name of the New Haven, New London and Stonington Railroad Company, with authority as such to establish a ferry across the river Thames. This consolidation resulted in the completion of the road from Stonington to New London. This extension road, as it was called, though furnishing the last link of railway communication between Boston and New York, did not prove successful. It became embarrassed, and in the year 1858 the Legislature authorized the New York, Providence and Boston Railroad Company to lease this road from New London to Stonington for a term of two years, provided such a lease would be acceptable to such corporation.
The next year the General Assembly authorized and em- powered these railroads to extend their lease or contract for twenty years, provided it was acceptable to both corporations. The leasing operations did not result in a financial success to the new road, nor were they able to pay the interest on their bonded indebtedness. So the bondholders petitioned for a foreclosure of their mortgages, and while they were pending the aid of the Legislature was invoked to enable the trustees of the bondholders to run, lease or sell the road for their benefit.
The Legislature finally, in 1864, reorganized the New Haven, New London and Stonington Railroad Company, under the name of the Shore Line Railway, extending from New Haven to New London. The Legislature the same year also reorganized the old New London and Stonington Railroad Company, em- bracing the railroad between New London and Stonington, by associating themselves corporators to form a new company and buy out the bondholders, and authorizing the trustees to sell or lease their interest in the road; dissolving the connection be- tween the old New Haven and New London, and the old New London and Stonington Railroad Companies, formed by the merging act of 1856. The New York, Providence and Boston Railroad Company purchased this railroad, ferry property and
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HISTORY OF STONINGTON.
franchises on the Ist day of December, 1864, and has operated it ever since.
In 1875 the Legislature amended the charter of the New York, Providence and Boston Railroad Company, so as to enable them to form a connection between their tracts west of the Borough of Stonington, and as so arranged it is now in success- ful operation.
The New York, Providence and Boston Railroad Company, acting under its amended charter of 1875, formed the aforesaid connections, and so as arranged, the road was ably and suc- cessfully operated by its officers, who in order to make a connection with the New York, New Haven, and Hartford Railroad Company tracks at New London, in 1882 in response to a petition of the new Providence and Boston Railroad Com- pany, the General Assembly of Connecticut authorized this company to construct and maintain a railroad bridge with suit- able openings across the Thames river, not below Winthrop's Point, with approaches to connect with other railroads in the towns of New London or Waterford. In 1885 the General Assembly of Connecticut passed resolutions providing for a union depot at New London, to be constructed, maintained and used as a union passenger station in the city of New London, by the New York, New Haven and Hartford Railroad, the New London Northern Railroad Company and the New York, Providence and Boston Railroad Company.
The construction of the railroad bridge over the Thames River, as provided for in the year 1882 by the Connecticut General Assembly, was not commenced until June Ist, 1888, and was formally opened for business October 10th, 1889. This bridge is double tracked, 1,423 feet in length, with a swing draw of 503 feet long, two spans 310 feet each, and two spans of 150 feet each. This bridge and the necessary approaches cost the New York, Providence and Boston Railroad Company over $1,600,000. The New York, New Haven and Hartford Rail- road Company took the road of the New York, Providence and Boston Railroad Company under a lease of April Ist, 1892, and by February, 1893, had purchased every share of its stock, when the company was merged and consolidated with the New York, New Haven and Hartford Railroad Company, which with all of its railroad purchases is now known and operated success-
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