History of East Boston; with biographical sketches of its early proprietors, and an appendix, Part 46

Author: Sumner, William H. (William Hyslop), 1780-1861. cn
Publication date: 1858
Publisher: Boston, J. E. Tilton
Number of Pages: 883


USA > Massachusetts > Suffolk County > East Boston > History of East Boston; with biographical sketches of its early proprietors, and an appendix > Part 46
USA > Massachusetts > Suffolk County > East Boston > History of East Boston : with biographical sketches of its early proprietors, and an appendix. > Part 46


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 | Part 51 | Part 52 | Part 53 | Part 54 | Part 55 | Part 56 | Part 57 | Part 58 | Part 59 | Part 60 | Part 61 | Part 62 | Part 63 | Part 64 | Part 65 | Part 66 | Part 67 | Part 68 | Part 69 | Part 70 | Part 71 | Part 72


Nov. Ordway, Pond, and Tuttle built a block of three brick houses on west side of Sumner street : lots 67 and 68.


Dee. Messrs. Cummisky and McManus each built a house on Maverick street : lot 114.


66 Andrew Bettly built on Cottage street : lot No. 32.


Mareh, 1836. Enos Morgan built a house on Cottage street.


April, " Edwin Phillips built a house on Webster street.


·


516


HISTORY.


[1835.


The following persons moved to East Boston in 1835 : -


January 8. Bradford Chandler * moved into his house.


April 15. Major J. W. Barton * moved into the Maverick House.


June 6. Truman Flower t moved into his house.


8. Benjamin Lamson moved into his house.


" 22. R. P. Morrill,t corner of Sumner and Havre streets.


Aug. 21. Levi Whitcomb, Saratoga street.


Captain William Fettyplace removed from Salem in June.


Simon Moulton and Theodore F. Rollins, who were employed in building the Maverick House, married and settled in East Bos- ton. Aaron Ordway .*


-


- Norris .*


E. W. Perry .*


Benjamin Brown, Jr .*


Sept. B. F. Butler.


William Walters.


Dec. John Davis. E. Johnson .*


H. Rogers .*


- Pollard .*


The Births during the year 1835 were, -


Jan. 14. A son to George D. Hagar.


Feb. 20. A son to - Bragdon.


May 3. A son, John Maverick, to Major J. W. Barton.


Aug. 1. A child to Dr. John Jeffries.


" 22. A child to Timothy McIntire.


Dec. 21. A daughter to Seth E. Benson.


The first marriage on the Island of which we have any account is of John Fenno to Miss Olive Pratt, mentioned in the Columbian Centinel of the 14th Dec., 1793.


The Williams family journal, to which reference is so fre- quently made, gives a description of this wedding, which took place in Henry Howell Williams's house :-


" Sunday, 8th Dec., 1793. . . .. Nobody went to meeting but the two boys. . . As Mr. Fenno and Olive Pratt in- tended being married to-night, the girls prevailed on Edward


* Those thus designated have since left East Boston.


t Now deceased.


517


PROSPERITY.


1835.]


Edes to bring the parson (Mr. Eliot) over, and have the cere- mony performed here, as it was too cold to go to Boston in the evening, and they all wished to see them married. The parson returned with the folks ;. we made quite a large party. After tea the bride and groom came, and they were soon made man and wife. As we had not time to make a loaf-cake, we made little cakes do with a glass of wine. The parson was pretty chatty and full of fun, and we spent the evening quite agreeably. We had supper, and afterward an excellent water- melon, which was a great rarity. The wind blew pretty hard, and the parson staid all night. . At eleven o'clock the bridegroom and bride wished us a good-night and went home, and we all soon after went to bed, very much pleased with the behavior and appearance of the newly married pair, and all wished them a great deal of happiness. So much for the first wedding that was ever in this house."


The Marriages in 1835 were, -


May 19. Mr. - -- Bragdon to a Miss ---- , resided in Dr. Jeffries's house.


Oct. 7. Mr. - - Sigler to Miss - Boyden.


" " Thomas Sullivan to Margaret Parker.


Dec. 3. Capt - Doane to Miss - Lincoln.


The Deaths in 1835 were, -


Feb. 20. Joseph Hooper, of Marblehead, who was drowned by the ice break- ing between Wood island and the first section.


Nov. 2. Mr. McGraw, aged fifty years. Also six children under two years of age.


A paragraph contained in a brief sketch of improvements at East Boston, published in January, 1836, gives, in a general glance, the condition of affairs on the Island at the close of 1835. After speaking of particular enterprises, it says : -


" It is now scarcely two years since the only dwelling-house then existing on this extensive tract of land was taken down to make room for the contemplated improvements; and beside the buildings erected by the various incorporated companies al- ready enumerated, there are now more than fifty private dwell- ing-houses, beside about twenty stores, warehouses, etc. ; and about ten substantial wharves, notwithstanding which, the popu- lation of the place is so rapidly increasing, that leases are


44


ok


ng in- ard


y n


e.


518


HISTORY.


[1835.


readily taken at rates that will give a yearly rent of at least ten per cent. on the cost of the investment. By the census of the city just taken, the population of East Boston already exceeds six hundred souls. A large proportion of this population con- sists of mechanics and artisans, and, so long as the price of land there continues at a rate so much lower than in the city oppo- site, the difference being more than ten to one, it will continue to offer advantages that will induce the rapid settlement of that portion of the Island more particularly adapted to the purposes of that influential and industrious class of citizens; while on Belmont in section one, and on Eagle hill in section three, the most delightful situations are to be found for villas and rural residences."


At the annual meeting, held on the 2d of May, 1836, the number of directors was increased from seven to ten, and the number of shares in the capital stock was doubled, making 10,560. It was voted, that each stockholder be entitled to the same number of new shares which he then held of the old shares, and that certificates be issued for the same. At this meeting some interesting facts were presented, relative to the prosperity of the company.


The president communicated the fact, that out of 663 acres about forty-eight had been sold, with a small proportion of the flats. The sales, up to the end of 1835, amounted to $253,259.95; and from that time to date, to $35,000, making in all $288,259.95. From the first amount was to be deducted $7,398.52 allowed for building and for other improvements, which made the net amount of sales $245,861.43.


The treasurer reported, that all expenses had been paid out of the proceeds of sales of land; that dividends to the amount of $92,316 had been made; that there had been expended on the Maverick House and appurtenances, wharves, etc., $129,265.30, which, with 78,000 feet of land on which the improvements had been made, at the estimate of fifty cents a foot, or $39,000, made an aggregate of $168,265.30. He also reported, that the available property of the company at its cost exceeded its debts and responsibilities by $78,013.71, besides the lands, flats, and wharf lots remaining unsold.


The superintendent added, that, a year and a half previous,


519


STATISTICS.


1835.]


there were but three dwelling-houses at East Boston, and, six months subsequent to that time, only fourteen families ; while in the autumn preceding the date of the report there was a pop- ulation of six hundred, with several boarding-houses, sixty dwell- ing-houses, thirty-seven stores and manufactories, and many other buildings in process of erection.


The unoccupied lands had been leased to Mr. Glazier for three years, for farming purposes, at an annual rent of $1,300 for the first, and $1,350 for the second and third years, reserving to the company the right of selling or using any portion of their lands, and of making other provisions beneficial to the in- habitants.


At this time, the Sugar Refinery, East Boston Ferry Com- pany, East Boston Wharf Company, East Boston Timber Company, and Malleable Iron Company, were in active opera- tion, and the Eastern Railroad would soon pass about a mile and a half over the Island.


Prosperity like this was unexampled in land enterprises, and the Island seemed at last about to realize and fulfil its destiny. New plans and new undertakings were continually before the company, who gave a strict attention to any and every project which, in its results, would benefit the Island. At one time (September, 1836) a committee was appointed to confer with the Eastern Railroad Company and Mr. John Breed relative to a dam from East Boston to Breed's island; at another time (March, 1837) the subject of a bridge from East Boston to Belle island to facilitate intercourse with Point Shirley was brought up, and was referred to a committee with full powers for its construction ; but the subject was afterward referred to the president ; at still another time (February, 1837) a commit- tee advised, for selection as a cemetery, a piece of land in the " Middle Farm," so called, and which is now located on a com- manding eminence between Bennington, Swift, Auburn, and Harmony streets, in section four.


'The few statistics just given show in what a prosperous state East Boston was at the annual meeting in 1836. During that year, the following families had moved to the place : -


e 0, ts 0, he ts nd


f


520


HISTORY.


[1836.


Enos Morgan,


William H. Delano,


H. Sargeant .*


Jesse Tuttle,t


William Fisk,


Prince Rogers,t


Thomas French,t


Benjamin Collins,*


Stearns,*


Asa Lewis,


Moses Carr,


Hiram Pond .*


Edwin Phillips,


Philip Lord,t


The following Births took place in 1836 : -


March 21. A son to Capt. E. Doane.


May 14. A daughter to Jonas Bessom, (died at seven years of age).


" 18. A son to Capt. Baker McNiar (?). June 9. A son to Timothy McIntire.


July 30. A son to Mr. Norris.


Nov. 18. A son to Hosea Sargeant.


Dec. 14. A son to John H. Tomlinson. 26. A son to Mr. Stearns.


The Island population were not, at first, " married or given in marriage" to any great extent. Our investigation rewards us with but one marriage in 1836; this was that of Mr. Hiram Pond to Mary G. Phillips, on the 15th of May.


The Deaths in that year, as recorded, were, -


' Sept. 21. Miss Angelina H. Briggs, aged 26.


" 24. An unknown man, who hung himself under a ship's boat which was bottom up.


Oct. 2. Two boys were drowned, one thirteen, the other seventeen years of age. This was on Sunday.


" 10. Philip Lord, aged 44.


" 24. Child of Philip Lord. The whole number of deaths in 1836 was ten.


To show how rapidly the taxable property of the company had increased, it appears from the records of February and March, 1837, that the assessors' valuation was $500,000. This was considered by the company as excessive, and was some- what reduced; but even then it shows an unprecedented rise in the value of property. On the 1st of May, 1837, there were seventy-eight dwelling-houses on the Island, several others in process of construction, also a large house for public worship in Maverick street, and numerous buildings were under contract. The population, which in 1835 was about six hundred, was now at least one thousand; and houses were in great demand by persons who would be willing to pay rents that would give ten


* These have since left East Boston.


t Now deceased.


521


FINANCIAL.


1837.]


or fifteen per cent. on the cost of building. In addition to the manufacturing establishments of the previous year, the hair factory and Mr. Kittredge's varnish factory were in full oper- ation. The hair factory was ninety feet by eighteen, and, to- gether with two boarding-houses, a shoemaker's shop, and bakery, all on Sumner street, was erected by Mr. Benjamin Lamson within nine months, and occupied to good advantage. The bakery was of wood, fifty-four by forty feet, three stories high, and cost $6,000. The Timber Company was doing an extensive business. During the year sixty-eight vessels had arrived from Albany with plank, timber, etc., from Grand island to the Timber Company. Two hundred and fifty other vessels with various cargoes arrived during the year; besides more than thirty, employing three hundred men, which arrived at the fish packing establishments of Mr. Miller and Mr. Tuttle; and, to accommodate the fast increasing ship-trade, thirteen good wharves had been built. Thus, notwithstanding a great financial depression, the improvements were such at East Bos- ton as to satisfy the most sanguine friends of the enterprise, that the Island was destined to become a most important com- mercial and manufacturing part of the city of Boston.


It has been stated that these were times of great financial depression. Throughout the country the scarcity of money, the lack of confidence even among the heaviest capitalists and men of high character and position in society, the long series of failures of the largest and most responsible houses, and the un- certainty of any and all business operations, created a state of public feeling which operated against speculations of any kind. The East Boston Company of necessity felt the influence of the financial atmosphere, and although it prosecuted its legiti- matc objects with energy, yet it was unable to obtain money for immediate uses with that easc and certainty which were necessary to favorable operations. To accomplish this purpose, the company purchased into the Kilby Bank of Boston. This transaction need be alluded to only in the most general manner, as the details will be possessed of no particular interest to the public. A concise summary of the whole matter is as follows, while the records of the company show all the minute partieu- lars not necessary to our narrative : -


44 *


y n


t.


V


1


522


HISTORY.


[1835.


May 19, 1837. East Boston Company took 2,520 shares of Kilby Bank stock, and gave bank-notes and mortgages to the amount of . $251,926.25


May 25, 1839. The company sold the stock back at $80 per share, and took back the notes and mortgages


·


$175,485.40


Allowed interest from May 19, 1837 26,165.43


$201,650.83


Loss to the company $20 per share, or . 50,326.25


Difference .


$251,977.08


Original amount


$251,926.25


May 20, 1839. Closed the whole concern with Peter Harvey and Joshua Webster, Jr.


In the summer and autumn of 1835 it was proposed to open an office of the East Boston Company in New York for the transfer of stock in that city, in order that it might be offered for sale at the brokers' board, to interest capitalists there in the stock, and thus, with the increased business facilities, the specu- lation would be made much more profitable. This plan had in view the making of the stock a desirable one throughout the country. The East Boston Company had the confidence of the community, and its property was valuable and constantly increasing in value, and by making the stock generally avail- able, by interesting parties of enterprise and capital, the com- pany would be greatly benefited.


The proposition met with favor, and was immediately. en- tered upon with alacrity by all the parties concerned. Men of credit, enterprise, and character became interested, and coöper- ated with the East Boston proprietors, and the new plan promised great success. To make all the arrangements pre- liminary to any actual operations required much thought, plan- ning, and consultation; to relate these minutiæ would be as tedious to the reader as it would be useless in the narrative. Had a favorable result attended the enterprise, it would be proper to detail its proceedings at length. Many of the gentle- men in New York who engaged in it were great speculators, and were deeply involved in other financial operations; and, it may be supposed from the result, that they entered into this new plan with the hope of maintaining their business position, and of making enough money to compensate them for other


· 50.83


523


1836.]


SALES IN NEW YORK.


losses. But the hard times of 1837 and succeeding years de- stroyed all the well-laid plans, and this project, which, to all human foresight, would have been most lucrative in any ordi- nary state of the money market, entirely failed of accomplish- ment. It can only be spoken of as something which was proposed and started, its legitimate results being all prevented by the great financial crisis which, upon the repeal of the tariff, swept over the whole country.


In few words, the proposition made to the New York gentle- men was accepted ; some of the principal stockholders of the company agreed to sell a large number of shares lower than the market price, and then by putting in an equal amount them- selves, create a joint trading capital for the benefit or loss of those engaged. The company voted to open books of transfer of stock in New York, the president and treasurer were au- thorized to sign in blank the necessary certificates, and. Rufus K. Delafield, cashier of the Exchange Bank, was appointed (11th July, 1836) registrar of the company in New York for the trans- fer of its stock ; and it was voted to receive notes in payment for land which might be sold there. The New York gentlemen sent an agent, Mr. Thomas Sargeant, to view the premises, who made a very favorable report of the then condition and future prospects of the company ; and so well satisfied were all parties with the preliminary steps, that, on the 4th of May, 1836, the company voted to sell at public auction on June 2, 130 lots in the first, second, and third sections.


The following were the conditions of sale : Payment twenty- five per cent. cash, or approved notes on interest at sixty days, the residue in equal instalments of one, two, and three years, secured by note and mortgage on interest payable annually. Deeds to be given within fifteen days to those who make the first payment in cash, and to other purchasers when the note for the first payment is paid, and the conditions of sale are other- wise complied with. The lots on Belmont not to be used for any manufacturing or mechanical trade or business what- ever, at any time during the term of twenty years from April 25, 1833. Each purchaser, before building, to give thirty days' notice to the superintendent, so as to allow the company time to remove any surplus earth, should they deem it expedient, in


1 t S 3, er


;


1


524


HISTORY.


[1836.


conformity to the grade of the respective streets hereafter to be fixed. Ten per cent. to be allowed to any purchaser who should, within a year, erect buildings on his lot of equal value to the amount paid for said lot. [This was afterwards rescinded.] Until the auction, no lots to be sold at private sale, unless the purchasers agree to erect suitable dwellings within twelve months; private sales were also to be suspended until after another public sale. On the 2d of June land was sold to the amount of about twenty-three acres, for $213,000, averaging twenty-one cents a foot.


It was contemplated to hold another public sale in Septem- ber ; but it was deferred, principally on account of the great pressure in the money market.


An auction sale of East Boston lands was then made in New York on the 19th of July, at which the lots sold at greatly ad- vanced prices. The total amount of this sale was $185,190, averaging upward of $600 per lot. So well pleased were the new proprietors with their prospects, that they engaged to pur- chase $200,000 worth of land in addition to their first purchase, they having the privilege of buying the intermediate lots, which were reserved in the first sale, and promised, in case such a sale was made, to improve the land to the amount of $100,000.


There was a disposition on the part of some of the pro- prietors to make the company a stockjobbing concern, and depress and raise the stock, and manage the affairs as a mere matter of speculation, with all the machinery necessary for such purposes. The largest proprietor at that time, anxious to promote the best interests of the company, and preferring to raise the value of the land, did not favor stock operations, which, although they might prove of temporary benefit to a few, would seriously impair the confidence of the community in the company, and in its individual members. He did not wish to raise or depress the stock as individual interest might dictate, and make it a fluctuating property in the market, but preferred the straightforward system, which in the end would prove the most desirable. Holding these opinions, he was a serious obstacle in the way of the ardent speculators, and thus excited their opposition.


In addition to this, General Sumner, wishing to be relieved


525


CHANGES IN THE DIRECTORS.


1837.]


from the responsibility of guarding the rights of those not repre- sented in the board of directors, had, some time previous to the annual meeting for choice of directors, contemplated resigning the presidency, and had taken the necessary preliminary meas- ures for the succession. Thinking that the interests of the company could be best promoted by uniting the offices of president and superintendent in one person, he favored that plan, and the election of Mr. Lewis for that situation at a salary of $3,000 a-year, and Mr. Brodhead as treasurer. This plan interfered with Mr. Fettyplace (a near relative of Stephen White), a prominent member of the company, who held at that time the office of superintendent, and, although a most worthy man, lacked the energy necessary for conducting the compli- cated affairs of such a company ; and as it also interfered with the undue desire for speculation which had seized the minds of many of the company, Gen. Sumner, by the united efforts of Mr. White and Mr. Sargeant, who conspired for the purpose, without any notice of the intended change, was, at the election held on the 1st of May, 1837, left off the board of directors, and the vacancy filled by another ; so that the one who put the whole plan into operation, and to whose exertions and direction much of its then prosperity was owing, and who was the largest owner in the stock, and consequently the most interested in its profits and losses, was deprived of any voice in the com- pany's plans and purposes.


Mr. John Binney was chosen president in his place by four votes out of seven. This proceeding was the result of a secret and well-contrived plan. Mr. Thomas Sargeant was vested with a power of attorney from all the New York owners except Mr. Gerard, and came to Boston as the representative of their stock. Mr. White and certain Boston members influenced him to cast the votes in his possession against Gen. Sumner, and thus the scale was turned against him. When the notice of this election reached New York, the most influential of the owners there instantly disavowed all knowledge of such action, and adopted every means in their power to have the former president restored to the board, and many letters were received by Gen. Sumner, stating in strong terms their ignorance that such a removal was intended, and their utter disapproval of it.


ed


1 y t it It ld 3 1S


1


526


HISTORY.


[1837.


They had been induced to join the company from confidence in him and Mr. Gerard, and in the measures they adopted, and this summary way of displacing an officer who was laboring for the truest interests of the company met their unqualified disapproval.


The extract which follows, taken from a letter written to Gen. Sumner (14th May, 1837) by Messrs. C. and G. Belden, influential proprietors in New York, shows the manner in which the change in the direction of the company was viewed by them : -


" We learn that you may entertain the idea that we had some intentional agency in the manner in which our votes were cast at your election. The object of the present is to disabuse you of such an opinion. We had not the least con- ception that any change in the direction was contemplated at all. Mr. Sargeant sent to our office a power of attorney for us to sign, in his favor, stating that he was going on to represent the New York stockholders at the election of which we were apprised, but he did not intimate to us that any change in the direction was meditated, but on the contrary, that none was meditated that he knew of. We had heard from Mr. Gerard that you intended to resign the presidency, but that there was any intention to leave you out of the direction we did not dream of.


" As we became stockholders solely on account of yourself and Mr. Gerard, when he first stated what you said in regard to the election, we did not think it possible that you could con- ceive that we could have any agency in removing from the charge of what interest we have in the company the only indi- vidual in Boston that we know at all.


" Since, however, such an outrage, as we consider it, has been committed on your feelings, we hope those who have taken the responsibility will feel the necessity of vigorous action on their part, and thus subserve your interests. If they do that you will cry happy riddance to the trouble with the office."


Charles Belden, Esq., also wrote to Mr. Gerard in the follow- ing language : -


" I saw Mr. Graham, and my brother saw Mr. Hallet, and Mr. Graham said he had no idea that any change was contem-


527


THE CHANGES REVERSED.


1837.]


plated, and was very much surprised when he heard that the general was left out of the direction. Mr. Hallet said he knew nothing about it, and very much regretted the course taken. It was wholly without his knowledge, and much against his wish, if he could have expressed it. I will endeavor to see the others. But you may no doubt assure the general, that none of the stockholders in New York knew any thing about the change in the direction till afterward, except, perhaps, Mr. Sargeant."


So great was the interest taken in the subject, that John L. Graham, Esq., the leading gentleman in the enterprise in New York, and Mr. Leeds, another proprietor, came to Boston with the object of correcting the procedure. This was difficult of accomplishment ; but it resulted in the resignation of Mr. Bin- ney, the president, for the purpose of making a vacancy in the board of direction. This vacancy, at the solicitation of Mr. Graham and other gentlemen of the New York company, Gen. Sumner consented to fill if he should be unanimously elected. At a dinner of the directors given for the purpose, the president announced that a vacancy had occurred in the board, which had been filled by the unanimous election of Gen. Sumner. Thus his course of action was fully endorsed by the vote and concur- rence of the very men who had deposed him. Even his oppos- ers saw that the best interests of the company demanded his cooperation, for, if hostilely inclined, he had it in his power to destroy its credit, and place it beyond the reach of lucrative operation.




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.