History of Bristol County, Massachusetts, with biographical sketches of many of its pioneers and prominent men, Part 79

Author: Hurd, D. Hamilton (Duane Hamilton) ed
Publication date: 1883
Publisher: Philadelphia, J. W. Lewis & Co.
Number of Pages: 1818


USA > Massachusetts > Bristol County > History of Bristol County, Massachusetts, with biographical sketches of many of its pioneers and prominent men > Part 79


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This disaster had been preceded on the 6th of the same month by a fire at the Bay State Works, then owned and operated by the American Print-Works, which laid in ashes the boiler-house and machine- room buildings and their contents.


After passing through several hands it was pur- chased by Potter & Chatburn in 1829, and converted into a print-works. The first goods were printed there in 1830. After that date it was enlarged from With the characteristic energy of the agent and treasurer, Mr. Jefferson Borden, all of the buildings so suddenly destroyed were in a very short space of time, compared with the magnitude of the work, recon- structed, filled with machinery, and in 1869 put in operation, the corporation having in the new Ameri- can Works 16 printing-machines and other facilities for producing 24,000 pieces prints per week, and at the Bay State Works 5 printing-machines, with the requisite accompaniments for turning out 7000 pieces per week. In consequence of the disastrous fire in 1867, with no insurance, the works were operated under a heavy indebtedness until 1879, when they were obliged to suspend. In February, 1880, a new corporation was organized, under the name of the time to time, and with varying degrees of success was run in 1833-34 by Holder Borden; 1835-39, as Tiver- ton Print-Works; 1839-42, by Walter C. Durfee, agent ; 1843-44, by Prentiss & Marvel ; 1845-53, by W. & G. Chapin ; 1853-58, as Bay State Print-Works, when in 1858 it was purchased by the American Print-Works, and operated by them in connection with their larger works until 1876. It was sold in 1880, and the site is now occupied by the Globe Yarn- Mills, chiefly a new brick structure, but utilizing in connection with it a small part of the old print-works. This establishment from 1851 to 1855 had ten print- ing-machines, and printed 10,000 to 12,000 pieces per week, about one-half delaines and one-half calicoes. Delaine-printing was discontinued in 1855, and the | American Printing Company, with a capital of $300,- product was subsequently confined to calicoes.


000, which was subsequently increased to $500,000. Several additions have been made both of buildings and machinery, and the works now have 19 printing- machines, and produce, when in full operation, 36,000 pieces printed fabrics per week.


The main building of the works of the American Printing Company is one of the finest in the world devoted to the business of printing textile fabrics, and attracts the attention of all strangers as they enter the city by steamboat or railway. A fair idea of the magnitude of this establishment may be ob- tained by the consideration of the fact that the aggre- gate length of the various buildings comprising it is over two thousand five hundred feet.


Its ample rooms are furnished with the best mod- ern appliances of science and skill in each depart- ment, and the productions of this company are to be found in all sections of the country from the Atlantic to the Pacific.


The present officers are : President, James C. Eddy ; Clerk, Alphonso S. Covel ; Treasurer, Thomas J. Bor- den ; Directors, James C. Eddy, Thomas J. Borden, A. S. Covel, A. S. Tripp, of Fall River, and C. N. Bliss, of New York.


In 1840 the works were enlarged by the construc- tion of a new machine building, dye-house, etc., and the production about doubled. Further additions and improvements in methods of operating had brought the production in 1854, with six printing-machines, Union Belt Company .- The year 1871 is notable in the history of Fall River as witnessing the extra- ordinary development of the cotton industry. Some fifteen large mills were erected, calling for a large in- crease of its population and the establishment of sev- eral industries to supply material incidental to run- ning and keeping in motion the thousands of spindles to about nine thousand pieces per week. No impor- tant changes in the arrangement of these works were made from the latter date until 1867, when a portion of the buildings were removed and a new and greatly enlarged structure of Fall River granite was com- menced. As the new and extensive works were about completed, and while negotiations for insurance were : and looms which were contained in the handsome and


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substantial buildings that had been erected for their use. Prominent among these industries stands the Union Belt Company, a corporation organized for the purpose of manufacturing leather belting.


The rapid expansion of the cotton industries of Fall River had attracted the attention of Mr. Wil- liam H. Chace, a gentleman living in a neighboring city, and who was a practical belt-maker. He be- lieved that it was an opportune time to establish the manufacture of belting in a city that was so large a consumer, and he succeeded in inducing a number of gentlemen to engage in the enterprise.


In the latter part of the year a corporation was formed, with a capital of two thousand four hundred dollars, with the following officers : President, R. B. Borden ; Treasurer, A. S. Covel ; Agent, William H. Chace; Directors, R. B. Borden, T. J. Borden, Wal- ter Paine (3d), B. D. Davol, and William H. Chace.


A large brick building was erected by the Troy Cotton and Woolen Manufactory on Troy Street, which was leased by the Belt Company, and fitted up for the requirements of the business. Contracts were made with several of the new mills then being erected to furnish the belting, and the enterprise fairly inaugu- rated. After a short time the business of covering top rolls was added. From the first the company has done a successful and profitable business. The mar- ket for its belting is not confined to Fall River alone; the reputation which the company has earned for itself in doing first-class work has created a demand for their belts in the neighboring manufacturing cities and also in Chicago, where a large part of their pro- duction has been used. The growth of their business called for additional room, and a large two-story brick addition has been made to the original building, giving them ample facilities for meeting the increased demand for their belting.


As a financial venture it has been one of the most successful in the city, having returned large dividends since the first year of its organization, and being now in the strongest and best of credit. The success of the enterprise is due in a large measure to the agent, Mr. W. H. Chace, whose faithful and unremitting efforts and knowledge of the business has been given to the corporation from its organization. The officers at this time are: R. B. Borden, president; A. S. Covel, treasurer; W. H. Chace, agent; Directors, R. B. Borden, T. J. Borden, E. C. Kilburn, B. D. Davol, W. H. Chace, and A. S. Covel.


The Globe Street Railway Company was char- tered April 16, 1880, with a capital of $100,000. The original stockholders were as follows: Edward Her- bert, Isaac P. Francis, Edward E. Mannersley, S. V. Bliffins, Seth H. Wetherbee, Foster H. Stafford, Mrs. B. Wixon, Franklin P. Osborn, Braley & Swift (Henry K. Braley, Marcus G. B. Swift), Cook Borden & Co., George F. Mellen, D. B. Wilson, and Frank W. Brightman.


April 24th, when the following officers were elected : President, Edward Herbert; Treasurer, George F. Mellen ; Clerk, Marcus G. B. Swift; Directors, Ed- ward Herbert, F. H. Stafford, F. P. Osborn, S. V. Bliffins, George F. Mellen, Isaac P. Francis, and James B. Hillard.


The company operates a line of road, a portion of which is double track, extending as follows : From Weaver Street to City Hall, up Pleasant Street to Quequechan Street; from City Hall, through East South Main Street, to East Main, to Globe Street ; thence through Globe Street to South Main, and through North Main to near the Slade school-house. A line also extends from Weaver Street to Forest Hill.


The present officers are as follows : President, Wil- liam H. Jennings ; Treasurer, Frank W. Brightman ; Clerk, M. G. B. Swift; Directors, William H. Jen- nings, Frank S. Stevens, John S. Brayton, Andrew J. Borden, M. G. B. Swift, Joseph A. Beauvias, and Thomas B. Wilcox.


The Quequechan Mills .- The original Quequechan Mill was located two privileges above the mill now known by that name, and was several years since torn down, and its site is now included in the extensive works of the Pocasset Manufacturing Company.


Andrew Robeson commenced the business of calico printing on the site of the original Quequechan Mill in October, 1824. In 1826 he purchased the site now occupied by the present Quequechan Mills, and in company with his two sons, Andrew and William, transferred his business to this point, erecting build- ings which now constitute a part of the buildings of this corporation.


They had at that time associated with them in various capacities Mr. George Kilburn (afterwards of Lonsdale, R. I.), Mr. Samuel Hathaway, and Mr. Thomas Tasker. The business was continued, in- creasing from time to time, under the firm-name of Andrew Robeson & Sons until Jan. 27, 1848, when they failed. At the date of this failure they were operating about fourteen printing-machines.


. The property then passed into the hands of the Fall River Print-Works, which was incorporated by special act of the Massachusetts Legislature, April 18, 1848, of which Mr. William H. Taylor was treas- urer until 1858, when Mr. Andrew Robeson, Jr., be- came treasurer, holding the management of the works until 1866, when Andrew Robeson (3d), son of An- drew Robeson, Jr., became treasurer, and continued until Aug. 28, 1878, when the concern filed a volun- tary petition in bankruptcy.


Mr. Alonzo Borden was superintendent of the Fall River Print-Works during most if not all its exist- ence. They ran from two to three printing machines, principally on indigo blues, greens, buffs, etc.


In 1859 the main or largest building was filled with machinery for the manufacture of printing cloths; capacity, about 6000 spindles. This was in-


The first meeting of the incorporators was held . creased in 1865 to 11,000 spindles, and again in-


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HISTORY OF BRISTOL COUNTY, MASSACHUSETTS.


creased in 1867 to 12,800 spindles. The mill was completely reorganized in 1868, and brought nearly to the present capacity. The printing business was completely abandoned about 1863.


After the failure of the Fall River Print-Works the mill was run under the management of trustees for the creditors, with Mr. Andrew Robeson (3d) as man- aging trustee until Dec. 20, 1879, on which date the property passed into the hands of the corporation now known as the Quequechan Mills, with Andrew Robeson (3) as treasurer, and Mr. Henry G. Fenner, superintendent. Mr. Robeson and Mr. Fenner re- signed in January, 1881, when Mr. D. H. Dyer be- came treasurer and general manager. During the past two years important improvements have been made both to buildings and machinery, and the mill now contains 13,952 spindles and 306 looms, and is fitted for the manufacture of a considerable variety of goods. When the whole capacity is devoted to (sixty-four by sixty-four) print clothis, the product is about 1600 pieces per week.


An Old Landmark .- A writer in the Providence Journal in speaking of the old tannery of Edmund Chase, Esq., says,-


.


" Among the few old landmarks of by-gone years that seem to connect the present waning decades of the century with the earlier period, the oldest in the centre of the town is the old tannery, now owned by Edmund Chase, Esq., situated adjoining the new elegant United States custom-house and post-office building on Bedford Street. These two edifices afford just the contrast needed to indicate the progress of the last seventy years. This ancient tannery build- ing was erected or at least the tanning business was organized here not far from 1808 by the father of the present owner, and antedated by five years the estab- lishment of the cotton manufacture in this town. The location chosen was on the Quequechan River, be- cause of the abundance of water, and where the Troy mill was built the company selected the site across the stream next above the tannery, and that establish- ment also marks the middle period of development between the date of the tannery and the new post- office building. Years ago this tannery was a scene of busy industry. The hides were bought of the sur- rounding country farmers, and wrought into good solid leather for the general market. In those days other tanneries flourished in this vicinity, and leather- dressing was an art of great importance. This branch of manufacture was kept until a short time ago, when it was found that finished leather could be bought in the market cheaper than it could be made here in the present state of the hide market. Since the great increase of cotton mills and other works employing machinery, belt-making has been a leading industry. For many years Mr. Chase has carried on this branch, and many manufactories here and elsewhere use his work, which has always proved substantial and ser- viceable. The older portion of our citizens would


probably regret to see the old favorite landmark of the first quarter of the century swept away, nor do they regret that there is no symptom of its going just yet. Mr. Chase is still in the vigor of business life, and by his judicious management has built up his business on the soundest basis, and has always ranked among the leading solid business men of the city. Few concerns in New England have maintained for seventy-five years such unimpeachable credit or gained a more enviable reputation for honest deal- ing."


CHAPTER XXVI. FALL RIVER .- (Continued.) THE BANKING INTEREST.


The National Union Bank-The Fall River National Bank-The Mas- sasoit National Bank-The Metacomet National Bank-The Pocasset National Bank-The First National Bank-The Second National Bank -The Fall River Savings-Bank-Citizens' Savings-Bank-The Fal River Five-Cent Savings-Bank-The Union Savings-Bank.


The National Union Bank .- The National Union Bank is the oldest bank in the city, having been char- tered as the Bristol Union Bank, of Bristol, R. I., in 1823. Its authorized capital was $50,000, with the privilege of increasing the same to $200,000. It com- menced business in 1824 with a paid in capital of $10,000, which was increased within the next two years to $40,000. In 1834 the capital was increased to $100,000; in 1846 to $200,000, and in 1866 to $300,- 000, its present capital.


The first president of the bank was Barnabas Bates, who officiated till some time in 1824, when he was succeeded by Parker Borden, who held the office until 1838, when he was followed by David Durfee. Mr. Durfee was succeeded in 1846 by Nathaniel B. Bor- den, who remained until 1865, and was then suc- ceeded by Jesse Eddy. Mr. Eddy was president until 1874, when Cook Borden became president, and Mr. Borden was succeeded by the present president, Mr. Daniel Wilbur, in 1881.


The cashiers have been as follows: Nathaniel Wardwell, 1824; Josiah Gooding, 1825; William Coggeshall, 1826-60 ; Daniel A. Chapin, from 1860 to the present time.


In 1830, Fall River, Mass., affording a more prom- ising field for banking operations, the bank was re- moved from Bristol and located in Tiverton, just over the line from Fall River, and its name changed to the Fall River Union Bank. Its office was on South Main Street, opposite the head of Columbia Street. In 1837 the bank erected for its accommodation the brick building corner of South Main and Rodman Streets, and removed its office to the lower floor, where it continued its business until 1862. In that year, by the change of boundary line, Fall River, R. I., became Fall River, Mass., and the bank was


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FALL RIVER.


removed to the office in the southwest corner of the market building, now City Hall.


In June, 1865, the bank became a national bank- ing association, under the name of the National Union Bank. In 1872 the office of the bank was re- moved to No. 3 Main Street. The present officers are as follows : President, Daniel Wilbur; Cashier, Daniel A. Chapin ; Directors, Daniel Wilbur, Thomas Bor- den, William B. Durfee, William H. Ashley, John D. Flint, Samuel Wadington, D. A. Chapin, D. M. Anthony, A. S. Covel.


The Fall'River National Bank .- The Fall River Bank was the first banking institution established in this town. It was chartered in 1825. The prelimi- nary meeting to consider the expediency of establishing a bank in what was then the "village" was held at the office of James Ford, Esq., Jan. 18, 1825. The record reads as follows :


"At a meeting of the citizens of the village of Fall River at the office of James Ford, Esq., Jan. 18, 1825, pursuant to previous netice, to take into consideration the expediency of establishing a bank in said vil- lage, David Anthony being called to the chair and James Ford appointed secretary, it was


" Voted and Resolved, That a petition be presented to the Legislature, at their present session, for a charter for a bank;


"That a committee of five be appointed to receive subscription for the stock, and to canse the petition to be presented ;


" That Oliver Chace, David Anthony, Bradford Durfee, Richard Ber- den, and James Ford be this committee;


" That five cents on a share be paid by the subscribers to defray the expenses that may accrue in obtaining an act of incorporation ;


" That Oliver Chace be treasurer to receive the above money.


" A true copy. Attest: M. C. DURFEE."


The act of incorporation contains the names of Oliver Chace, David Anthony, Bradford Durfee, Richard Borden, Nathaniel B. Borden, Jolin C. Bor- den, Lucius Smith, Samuel Smith, Clark Shove, Harvey Chace, Edward Bennett, Arnold Buffum, James Ford, James G. Bowen, William W. Swain, Benjamin Rodman, William Valentine, and Holden Borden.


At the first meeting of the stockholders, April 7, 1825, Oliver Chace, David Anthony, Bradford Dur- fee, Sheffel Weaver, Edward Bennett, Gideon How- land, Benjamin Rodman, John C. Borden, and Rich- ard Borden were elected directors, and at a subsequent meeting of the directors, May 3, 1825, David An- thony was chosen president, and Matthew C. Durfee cashier.


This was the only bank of discount and deposit in the village for twenty years.


David Anthony, after a service of forty years, re- signed the office of president on account of ill-health in 1865, and was succeeded by Col. Richard Borden, who died in 1874, and was succeeded by Guilford H. Hathaway, the present president.


Matthew C. Durfce continued as cashier until 1836, when he resigned, and was succeeded by Henry H. Fish, who served twenty-seven years, resigning in 1863. George R. Fiske was elected his successor, and served until 1873, when he resigned, and was suc- ceeded by Ferdinand H. Gifford, the present cashier.


The first banking-house of the Fall River Bank was a brick building, erected in 1826, on the corner of Main and Bank Streets. It was destroyed by the great fire in 1843, but rebuilt of the same material the same year.


The Fall River Bank started with a capital of $100,000, which was increased to $200,000 in 1827, and to $400,000 in 1836. In 1844 it was reduced to $350,000, but increased again to $400,000 in 1864, when it was incorporated as the Fall River National Bank.


The present officers are as follows : President, Guil- ford H. Hathaway ; Cashier, Ferdinand H. Gifford; Directors, G. H. Hathaway, William L. Slade, John P. Slade, Richard B. Borden, Isaac Borden, Henry S. Fenner, F. H. Gifford.


The Massasoit National Bank .- The Massasoit Bank was organized June 2, 1846, with an authorized capital of $100,000. Jason H. Archer was elected president, Leander Borden cashier, and Jason H. Archer, Oliver S. Hawes, Azariah Shove, Nathan Durfee, Henry Willard, Iram Smith, and Benjamin Wardwell a board of directors. The bank com- menced business in December, 1846, with a paid up capital of $50,000, which was increased in the follow- ing March to $100,000. In January, 1854, the capital stock was again increased to $200,000.


In October, 1852, Dr. J. H. Archer, having removed from the town, resigned his office as president, and Israel Buffinton was chosen his successor. In Octo- ber, 1864, Charles P. Stickney was elected president, rice Israel Buffinton, resigned. Charles P. Stickney resigned Sept. 11, 1878, and Iram Smith elected presi- dent. Leander Borden resigned Nov. 1, 1881, and E. W. Borden elected cashier.


In December, 1864, the bank was converted into a national banking association, under the name of the Massasoit National Bank. It was also made a de- pository and financial agent of the United States.


The bank when first established occupied rooms in the north end of the Mount Hope Block, corner of Main and Franklin Streets. It continned here for thirty years, or until 1876, when it was removed to its more commodious and convenient banking-house at the Four Corners, the northeast corner of Main and Bedford Streets.


The present officers are as follows : President, Iram Smith; Cashier, Eric W. Borden ; Directors, Iram Smith, Southard 1I. Miller, Edmund Chase, William Mason, Bradford D. Davol, Charles M. Shove, George A. Chace, Nathaniel B. Borden.


The Metacomet National Bank .- The Metacomet Bank was incorporated by the Legislature of 1852-53, with a capital stock of $400,000, which was soon after inercased to $600,000. It was organized in the sum- mer following by the choice of Jefferson Borden as president, Azariah S. Tripp cashier, and a board of nine directors, viz. : Jefferson Borden, Nathan Durfee, William Lindsey, Philip D. Borden, Thomas J. Bor-


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HISTORY OF BRISTOL COUNTY, MASSACHUSETTS.


den, Daniel Brown, William Carr, William Marvel, and Joseph Crandall. The bank was located in the brick building corner of Water and Pocasset Streets, and commenced business in December, 1853, with a capital then as large as that of any bank in the com- monwealth ontside of Boston.


In 1865 the institution was converted into a national banking association, under the name of the Meta- comet National Bank of Fall River, No. 924. After having been located on the boundary of the " Border City," it removed in 1876 to its present commodious and complete banking-house in the Borden Block, corner of South Main and Pleasant Streets.


Mr. Borden remained president until January, 1880, when he was succeeded by William Lindsey, the present incumbent. Mr. Tripp has remained cashier of the bank from the first, a period of nearly thirty years, and is one of the oldest bank officials in term of service in the commonwealth.


The Pocasset National Bank .- The Pocasset Bank was incorporated by the General Assembly of the State of Rhode Island in May, 1854, Moses Baker, Oliver Chace, and Joseph Osborn being named in the charter. The bank was organized June 3, 1854, by the choice of Oliver Chace, Samuel Hathaway, Weaver Osborn, Gideon H. Durfee, and Moses Baker, of Tiverton, and John C. Milne and William H. Taylor, of Fall River, Mass., as directors. Oliver Chace was elected president, and William H. Brackett cashier.


The bank was located in the Fall River Union Bank building, corner of South Main and Rodman Streets, then in Tiverton, R. I. In 1856 the town of Tiverton was divided, and that part wherein the bank was located became Fall River, R. I. In 1862 the boundary line between Rhode Island and Massa- chusetts was changed, Fall River, R. I., being set off to Massachusetts, and the bank, by authority of the Legislature, became a Massachusetts institution, and was removed to the office in the northwest corner of the market building, now City Hall, on Main Street.


Feb. 1, 1865, the bank was organized as a national bank under the title of the Pocasset National Bank, No. 679. In 1872 the bank purchased the lot on the southeast corner of Main and Bedford Streets, and erected on the " Four Corners," so called, a fine gran- ite building of three stories high, with a mansard roof. In January, 1873, the bank was removed to its present eligible location on the lower floor of this building.


At the annual meeting of the board of directors, Jan. 6, 1882, Oliver Chace resigned the presidency, and on the following day William H. Hathaway was elected to fill the vacaney.


Dec. 9, 1862, William H. Brackett resigned, and was succeeded by the present cashier, Mr. Edward E. Hathaway, who has been connected with the bank since its organization in 1854.


Samuel Hathaway officiated as president until


his death, when he was succeeded by Mr. Weaver Osborn, the present president. Only three of the original board of directors are living, viz., Weaver Osborn, John C. Milne, and Gideon H. Durfee. Mr. Osborn and Mr. Milne are members of the present board.


The present board is as follows: Weaver Osborn, Nathan Read, Danforth Horton, Linden Cook, Foster H. Stafford, John C. Milne, E. E. Hathaway. Capi- tal, $200,000; surplus, $40,000; undivided profits, $37,475.13.


The First National Bank was organized Jan. 23, 1864, with a capital of $200,000. Hon. John S. Brayton was elected president, and Mr. Charles A. Bassett cashier. In March, 1865, the capital stock was increased to $400,000, which is its present figure. From the date of organization until 1870 it was a United States depository and financial agent. The bank is located at No. 14 Granite Block, on the corner of Main and Central Streets, the southwest of the "Four Corners," so called. Mr. Charles A. Bassett, cashier, having in 1877 been elected treasurer of the Fall River Savings-Bank, was succeeded by Mr. Hezekiah A. Brayton, who remained cashier until April 28, 1880, when he was succeeded by Mr. C. E. Hendrickson, the present incumbent. The present officers of the bank are as follows: President, John S. Brayton ; Cashier, Charles E. Hendrickson ; Direc- tors, John S. Brayton, William B. Brayton ; H. A. Brayton, D. A. Brayton, Jr.




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