USA > Massachusetts > Middlesex County > Wakefield > History of Wakefield (Middlesex County) Massachusetts, compiled by William E. Eaton and History Committee > Part 14
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DINE SHOE CORPORATION
The Dine Shoe Corporation was incorporated in October, 1931. Since settling in Wakefield they have been most successful, manufacturing women's novelty shoes, with an annual business of approximately $600,000.
Henry L. Dine is president, and Samuel G. Rosenberg is treasurer.
NUCRAFT TOYS
Nucraft Toys is a prominent industry founded in 1926 by Paul K. Guillow, former naval aviator, who has continued as owner. The business started over Smith's battery station on Centre Street where it was located until the Morrison-Skinner plant on New Salem Street was purchased. Model airplanes for domestic and foreign markets are produced, and range in price from one cent to ten cents. Airplane construction sets sell from five cents to $3.50. Airplane kites are also made in this factory, which employs an average of fifty workers. Roscoe M. Guillow, a brother of Paul, is general manager.
CO-ED SHOE MANUFACTURING COMPANY, INC.
This company was incorporated in 1835. It manufactures essential civilian shoes for the United States Government and the British Govern- ment, with a peak production of 200 pairs daily. The president is Maurice Dell, and Joseph Dell, a successful shoe manufacturer for 35 years, is the treasurer. The plant is in the former Miller Piano factory on Smith Street.
THE WILLIAM BLANCHARD COMPANY
The William Blanchard Co. was started in 1915 by William Blanchard and has had a continuous successful business in awnings, canvas specialties, street flags, flag poles, venetian blinds, etc. The company has rendered conspicuous service to World War II by the manufacture of Navy supplies. The company's slogan: "Master Awning Makers."
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CHAPTER TWELVE
Banks and Banking
Early Institutions - Wakefield Savings Bank - Wakefield Trust Company Wakefield Co-operative Bank
The towns of Salem, Lynn, Charlestown and Boston were all ten years old when Reading was first settled. In this interval some progress had been made in the exchange of goods by barter. English and Spanish coins and Indian shells (wampum) were in limited use. As a matter of fact, the first settlers had little use for money as we know it. Each family was a unit unto itself. They hunted for meat and fowl, ate Indian corne, pease, fish and berries. Any excess, as farms grew, was disposed of by barter with neighbors or wheeled to the Boston Market. Furs brought in by Indians and exchanged for firearms, knives, cooking utensils, etc., made a lucrative business, since furs brought big money in England. As domes- tic cattle increased, there was an exchange for necessities, or for mortgages or cash. The word "chattel" for example, meaning personal property, is derived from the word "cattle." For a great many years these conditions prevailed. Later the English pound (originally a pound of solid silver), shillings and pence were the chief currency of the Colony. Coins were not struck in North America, except a few issued by separate Colonies, until the opening of the Government Mint in 1792.
The Bay Colony was an exception. Notwithstanding that the Colo- nists were forbidden by England to mint any money, Massachusetts ignored this edict and in 1652 struck the first coin on the North American con- tinent. It was a shilling and became known as the "New England shilling." It was of great assistance to the Colonists. Later the famous Pine Tree shilling was minted until 1686. All this time Indian wam- pum was in general use for ordinary trading purposes along with the Spanish dollar that was much sought after.
Then in 1758 the name "dollar" was adopted by Congress, for the monetary unit of our currency, replacing the Spanish dollar, the chief unit of money in circulation at that time. Such was the banking of those early days!
The town of Reading had no bank for nearly 200 years. In 1833 the South Reading Mechanical and Agricultural Institution was incorporated
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HISTORY OF WAKEFIELD, MASSACHUSETTS
with a capital of $100,000. The banking rooms were in the old and present building on the corner of Albion Street and North Avenue. Thomas Emerson was its first president, and Thomas Winship its treasurer.
In May 16, 1854, the South Reading Bank was organized as a state bank with a capital of $100,000. Hon. Thomas Emerson was the first president, and Hon. Lilley Eaton was the cashier until his death in 1872. The direc- tors were Thomas Emerson, Lucius Beebe, Samuel Gardner, George O. Carpenter, Edward Mansfield, and Cyrus Wakefield.
On June 21, 1865, this institution was reorganized as the National Bank of South Reading, under the same management. The banking rooms were on the south side of the second floor of the "Bank Building" at the corner of Albion Street and North Avenue. Cyrus G. Beebe was its president; Thomas Winship, cashier; Frank A. Winship, assistant cashier; and directors were Cyrus G. Beebe, Thomas Emerson, George O. Carpenter, and James F. Emerson.
WAKEFIELD TRUST CO.
WAKEFIELD TRUST COMPANY
July 16, 1902, the National Bank of South Reading changed its name to the Wakefield National Bank. This was the parent of the present Wake- field Trust Company, with its savings and trust departments domiciled in a two-storied commodious bank building in Main Street.
This leading banking institution of Wakefield is a continuation of the early South Reading Bank of 1854, that remained a State Bank until 1865. That year the name was changed to the National Bank of South Reading. In 1902 its successor, the Wakefield National Bank, and the Wakefield Savings Bank, jointly erected a brick building on the corner of Main and Chestnut Streets. In 1916 the Wakefield National Bank became the Wakefield Trust Company.
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WAKEFIELD-1868 TO 1944
For several years the subject of a new Trust Company banking house had been under serious consideration. In 1924 the present imposing build- ing was erected, largely through the personal energy of Junius Beebe who was then president. This banking house, with its modern vaults and electric protective system, is today one of the most imposing in this part of the state. Albert W. Rockwood was elected president in 1944 succeeding Charles N. Winship, who had held that office since 1934. Ervine E. Laugh- ton is treasurer of the corporation.
The Wakefield Co-operative Bank, since 1935, has occupied a portion of the main floor of the Trust Company building.
WAKEFIELD SAVINGS BANK
WAKEFIELD SAVINGS BANK
The Wakefield Savings Bank received its charter from the Common- wealth on the 26th of May in 1869.
"Cyrus Wakefield, Daniel Allen and M. S. Southworth, their associ- ates and successors, are hereby made a corporation by the name of The Wakefield Savings Bank, to be located in the town of Wakefield, with all the powers and privileges and subject to all the duties, liabilities and re- strictions set forth in all general laws which now are, or may hereafter be in force applicable to Savings Banks and Institutions for Savings."
The first meeting of the incorporators was held at the office of Chester W. Eaton, Esq., on June 12, 1869. By-Laws were adopted and the fol- lowing officers elected :
Cyrus Wakefield, President; Edward Mansfield and James T. Emer- son, Vice Presidents; Daniel Allen, Clerk.
The first meeting of the Trustees of the bank was held June 15, 1869, and Daniel Allen was chosen Treasurer of the Corporation and N. R. Coffin and M. S. Southworth appointed on the Committee of Investment.
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HISTORY OF WAKEFIELD, MASSACHUSETTS
The bank opened for business June 30, 1869, and thirty-eight accounts were opened, total deposits being $3,263.53. Account Number 32, opened the first day, is still active, as is Number 73 which was opened July 14, 1869.
ยท February 5, 1870, the records disclose, the first banking rooms were shared with the Wakefield Real Estate & Building Association. Where this was is not disclosed in the records, but it is said to have been in the old Brown Block, which, until recently, stood on the easterly side of Main Street opposite the end of Avon Street.
The first Annual Meeting was held June 6, 1870, at which time de- posits had mounted to $31,698.58 and total assets to $32,476.91.
Cyrus Wakefield, the founder of the institution, remained as its pres- ident until his death in 1873. Including Mr. Wakefield, the bank has had eight presidents, whose names and terms of office are as follows:
Cyrus Wakefield, Sr. 1869 - 1873(d)
James S. Emerson
1874 - 1884
Solon O. Richardson
1884 - 1892
Thomas J. Skinner
1892 - 1907
Edward A. Rich
1907 - 1909
John W. White
1909 - 1930
Arthur T. Locke
1930 - 1933
Arthur L. Evans
1933 -
Seven treasurers have served the bank since its organization. They are as follows :
Daniel Allen 1869 - 1871
Mason S. Southworth 1871- 1872
John W. Cate
1873 - 1874
Chester W. Eaton
1875 - 1878
Richard Britton
1878 - 1917
Melvin W. Boardman
1917 - 1924
Harlow H. Hovey
1924 -
Starting from a small beginning, the Wakefield Savings Bank has grown with the town. For many years its office was in the Wakefield Block, now the Taylor Building, and later in Flanley's Block, now Odd Fellows Building. In 1902 it joined with the Wakefield National Bank in erecting the Bank Building on the northwest corner of Main and Chestnut Streets. In 1924, when the Wakefield National Bank's successor, the Wakefield Trust Company, built its new building on the other corner of Chestnut Street, the Savings Bank acquired the whole building and shared space with the Municipal Light Department.
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WAKEFIELD-1868 TO 1944
In 1939 extensive alterations were made and the present banking rooms are thoroughly modern in every detail.
On January 31, 1944 the bank had 10,752 depositors with aggregate deposits of $6,576,934.62 and total assets of $7,374,483.89. The staff consists of the Treasurer, two Assistant Treasurers, one of whom is in the service of our country, and six clerks and tellers. The bank performs all the functions of a Savings Bank, and has over two million dollars in loans on mortgages in Wakefield and nearby communities.
WAKEFIELD CO-OPERATIVE BANK
The Wakefield Co-operative Bank was formed in the year 1887 when Grover Cleveland was President of the United States and Oliver Ames was Governor of the Commonwealth of Massachusetts.
It was necessary, in accordance with the Law that 25 or more per- sons associate themselves by an agreement to form a Corporation for the purpose of accumulating the savings of its members, paid in to the Corpo- ration in fixed monthly installments, and lending to its members the funds so accumulated.
And so it was that thirty-six (36) of the substantial citizens of Wakefield, thoroughly believing in the necessity of such a Corporation, for the benefit and welfare of all the citizens of Wakefield, subscribed to the Agreement of Association on January 19, 1887.
The first officers elected were Thomas J. Skinner, president; Arlon S. Atherton, vice-president; Harry Foster, treasurer, and Chester W. Eaton, attorney.
The Wakefield Co-operative Bank was opened for business on March 5, 1887 in the Wakefield Town Hall. At this meeting 515 shares were sold and immediately the Directors offered the money for sale for mort- gage loans.
The first loan was made to Mr. James Cavinaro on property on Highland street, Wakefield. In the early days of Co-operative Banking it was the custom, as soon as money had been accumulated to offer it for sale to prospective borrowers and sell to the highest bidder. The money would be offered for sale at the regular interest rate plus a premium per share. The rate of premium bid per share depended upon the supply and demand of money. Money was sold as low as a five cent premium and as high as forty-five cents. Money today is offered for mortgage loan on two plans: "The Co-operative Plan" and the "Direct Reduction" plan.
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HISTORY OF WAKEFIELD, MASSACHUSETTS
The first annual report of the Bank showed assets of $11,972.50 and there were 13 borrowers who were paying for their homes the Co- operative Bank way. There were 241 shares outstanding and the first two dividends paid on these shares were at the rate of 6 per cent for the first eight months and at 7 per cent for the next six months.
In comparison the Wakefield Co-operative Bank is now assisting 650 citizens of Wakefield and vicinity to own their own homes. It has 1950 members and the outstanding shares now number 14,314. The last dividend on these shares was at the rate of 4 per cent per annum. The assets now total $1,716,000.00.
The Bank has had seven Presidents, Thomas J. Skinner, Arlon S. Atherton, Erastus D. Weston, Everett W. Eaton, Richard S. Stout, War- ren B. Wiley, and Dr. Charles E. Montague.
The first treasurer of the bank was Harry Foster, who resigned in 1907 and was succeeded by Charles E. Walton. Mr. Walton held the office of Treasurer until 1941 when he resigned the office and was elected a vice president, and Galen W. Hoyt was elected treasurer.
The bank has always been fortunate in having as Directors public spirited men of ability, successful in their various vocations, watching carefully and guarding its affairs, always interested and working for its success. Dr. Charles E. Montague, the present president, has served many years.
The Wakefield Co-operative Bank was organized with only two ob- jects in view-first: the encouragement of thrift by providing the means of systematic savings, and second: to provide an easy method for a per- son to pay for his home.
From its inception the Wakefield Co-operative Bank has earned a reputation for fair dealing, and enjoys the confidence and good will of its thousands of shareholders. In the years that are to come it will strive to maintain this reputation.
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CHAPTER THIRTEEN
Red Cross, Hospital Project, Community Chest
Wakefield Chapter in World War I - In the Twenty Years After In World War II -Wakefield Hospital Association Wakefield Community Chest
WAKEFIELD CHAPTER, AMERICAN RED CROSS
Wakefield Chapter of the American Red Cross was formed as a Branch of the North Middlesex Chapter of Lowell on March 27, 1918, in the midst of World War I. The meeting was held in the State Armory, and the late Honorable Harry I. Thayer was elected chairman by those assembled, representing numerous civic organizations.
In May, 1918, the Branch established headquarters in the so-called "Wakefield Mansion," which was located on the site of the present Highi School building.
Red Cross activities were carried on in the "Mansion" until October, 1921, when the demand for production ceased to be imperative.
Following release from the North Middlesex Chapter, the Wakefield Branch became Wakefield Chapter, November 21, 1921. lts framed charter hangs in the Chapter headquarters in the Lincoln School.
In the years following, the Chapter carried on the requirements of the National Red Cross through annual membership drives each Novem- ber, and by prompt and generous contributions to every national disaster.
At least twice the Chapter received a decoration of merit for exceed- ing its quota in annual drives, and at the beginning of one of the flood disasters it was the first Chapter in the state to send in a substantial con- tribution. Another activity was the distribution, in the winter of 1933-34 of a large quantity of clothing for men, women and children, as well as hundreds of yards of cloth for garments.
In March, 1926, following the lamented death of Congressman Thayer, the vice-chairman, Charles N. Winship, who had held that office from the beginning, became chairman. He remained chairman until the annual meeting on January 20, 1944, when he declined re-election and was unanimously made honorary chairman.
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HISTORY OF WAKEFIELD, MASSACHUSETTS
Cyrus M. Dolbeare, who had been vice-chairman for the year 1943, was elected chairman at the annual meeting in January, 1944.
A brief history, such as this, makes mention of individuals who have carried on year after year virtually out of the question. It should be re- corded, however, that the work of the Chapter was initiated and carried on through the years by men and women whose loyalty to, and faith in the policies and practices of the Red Cross were unquestioned. Mrs. W. S. Ripley, chapter secretary from the beginning, and the late Harris M. Dolbeare, deserve special mention for their devotion to the foundation and good work of the Red Cross.
In October, 1940, Wakefield again became active in production be- cause of the need for help in England and European countries, and it has continued with unabated zeal, and sustained vigor, since the entrance of the United States into the war.
Every activity required by the National Red Cross is being carried on at the moment of writing (February, 1944) on behalf of men and women in the service of the United States. A large corps of volunteer workers, headed by Mrs. Raymond P. Dellinger, numbering nearly 20 separate services, plus similar groups in the Lynnfield Center Branch of Wakefield Chapter, are engaged in this valuable war work-a major activity for civilians on the home front. Such work must and will continue until peace comes, and probably for many months thereafter.
Annual membership drives were discontinued when World War II was declared, and huge financial campaigns were launched. The chapter raised nearly $16,000 by public subscription in March, 1943, having had a quota of $14,300. In the 1944 drive more than $25,150 was raised in the largest and most successful financial campaign ever conducted in the community. Ned C. Loud was general chairman of both campaigns, and was assisted by chapter leaders and a large corps of about 400 citizen- solicitors each year.
WAKEFIELD HOSPITAL ASSOCIATION
For several years, following World War I, a hospital project was under serious consideration. It was not until 1929 that two prominent citizens brought the project to a favorable opening for later action. They were Lloyd J. Thayer, son of the late Congressman Harry I. Thayer, and Junius Beebe, president of the Wakefield Trust Company, and principal donor of the Lucius Beebe Memorial Library. Jointly, they purchased from the Bear Hill Golf Club Associates a 12-acre tract of land on the northerly and easterly sides of Hopkins Street in Wakefield, bordering on the town
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WAKEFIELD-1868 TO 1944
of Reading, as a favorable site for a hospital. At this time, Reading was in possession of a trust fund of $150,000 for a hospital and site, and it was thought that jointly the two towns could and would at some future time erect two 30-unit buildings with central heating plant-one unit to be in Reading and one unit in Wakefield. The cost was estimated at $400,000- $200,000 as Reading's share and $200,000 as Wakefield's share.
There were several public meetings and much agitation, but as yet no hospital has materialized.
On August 12, 1930, the board of governors of the Wakefield War Chest Fund turned over to the Hospital Association a balance of funds in the sum of $3,260.87. Mr. Beebe's gift was $3025, Mr. Thayer's gift was $3000, and the Greenwood Ladies' Circle contributed $25, totaling $9,310.87. The sum of $6000 was paid for the land and the balance, with some small donations added, is held by the Association under a trust agree- ment running until March 1, 1959.
As the years have passed without any building activities, the held land has been subject to taxation by the town. Today's fund is approxi- mately $4000. The original trustees were Lloyd J. Thayer, chairman; Charles N. Winship, Dr. J. William O'Connell, secretary, and Harris M. Dolbeare, treasurer. Dr. O'Connell and Mr. Dolbeare have since passed away. The present trustees are Lloyd J. Thayer, chairman; Charles N. Winship, Robert H. Adams, Cyrus M. Dolbeare and George J. Evans, secretary-treasurer. Theodore Eaton is legal adviser.
THE WAKEFIELD COMMUNITY CHEST
In the spring of 1943 a group of Wakefield residents, who for many years had been active in the support of Wakefield's charitable organiza- tions, gathered at the Y. M. C. A. for the purpose of considering the pos- sibility of improving the established custom of having many separate financial drives to raise the money needed to support Wakefield's charities.
After several meetings had been held, it was decided to form a "Wake- field Community Chest," which was to be affiliated with the Greater Boston Community Fund. Howard M. Tuttle was elected president; Patrick H. Tenney, vice president; Ervine E. Laughton, treasurer, and Mrs. R. Edgar Fisher, secretary.
Six local agencies immediately applied for membership in the Chest. They were: Boy Scouts (Wakefield district of Quannapowitt Council), Elizabeth E. Boit Home for Aged Women, Girl Scout Council of Wake- field, Society of St. Vincent de Paul, Wakefield Visiting Nurse Associa- tion, and Wakefield Young Men's Christian Association.
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HISTORY OF WAKEFIELD, MASSACHUSETTS
In the fall of the same year, the first combined financial drive was undertaken. The Greater Boston United War Fund Drive combined the needs of charitable war agencies of World War II, The Greater Boston Community Fund and the Wakefield Community Chest.
A goal was set at $21,000 and 566 Wakefield residents set out to raise this amount. George J. Evans was campaign chairman with James F. Keating, Herbert D. Anderson, Raymond P. Dellinger, Augustus C. Wis- wall and Howard M. Tuttle serving as an advisory committee.
Associate community chairmen were Frank H. Terhune, Mrs. Louise W. Boardman, Marcus Beebe, 2nd, Irving Burwen, Orrin J. Hale, Ernest G. Willard and Cyrus M. Dolbeare: The town was divided into ten dis- tricts which were headed by the following district directors: Fitzroy Willard, Henry A. Sanders, Fred Raymond, Harry I. Reed, Hiram A. Tobey, George J. Morgan, Mrs. James A. Fox, Thomas F. Kenney, Phillips C. Davis and Milan L. Hatch.
The drive met with an eager response on the part of the townspeople, and was successful in raising just over $23,000. This was the largest amount that had ever been raised in Wakefield for charitable purposes up to that time.
Plans for the second Wakefield Community Chest Drive were already being made in the spring of 1944, when this publication went to press. William E. Jones has been named chairman for the 1945 campaign.
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CHAPTER FOURTEEN
- Civilian Defense
Organized Under Massachusetts Committee on Public Safety Massachusetts Women's Defense Corps
WAKEFIELD COMMITTEE ON PUBLIC SAFETY
The Wakefield Committee on Public Safety was organized in June, 1940, with Major Edward J. Connelly as chairman, Charles F. Young, as secretary, and Arthur L. Evans as treasurer. Chairmen of half a dozen sub-committees were appointed. In October, Major Connelly resigned his chairmanship because of his duties at Camp Edwards. Captain J. Theodore Whitney served until June, 1941, when he was called into service. Chief of Police John G. Gates was appointed chairman on June 24, 1941.
Activities in the autumn of this year, and in the winter of 1942, in- cluded the establishment of a report center, the organization of air-raid wardens, and of a medical defense unit, and the establishment of a school, under the direction of Mrs. Harry M. Wheeler, for the training of women in canteen, nutrition, motor corps and first aid work.
At a special town meeting $11,000 was appropriated for defense pur- poses. An auxiliary police force of about 150 men and a force of 55 auxil- iary firemen were organized by Chief Gates and Chief Graham of the Fire Department, respectively.
Other activities of early 1942, were the formation of the Women's De- fense Corps; black-out tests; distribution of sand; siren signals installed, and evacuation and demolition committees organized.
Chairman Gates resigned on March 15, 1942 and A. Stanley North was appointed to succeed him. On July 4, 1942, a demonstration of the town's defense units was held. 1942 was a "dim-out" year in Wakefield. The dim-out regulations were in force until the early weeks of 1944, when they were lifted. Numerous black-outs and mobilizations proved the efficiency of the various units of the civilian defense in Wakefield.
Women air-raid wardens were organized and rendered service during daytime practice air raids.
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HISTORY OF WAKEFIELD, MASSACHUSETTS
THE WAKEFIELD COMPANY OF THE MASSACHUSETTS WOMEN'S DEFENSE CORPS
The first women's organization of a military nature in the Common- wealth began training its Wakefield unit in October, 1941, and on January 30, 1942, a class of seventy was graduated. The unit was organized as Wakefield Company of the Massachusetts Women's Defense Corps in March, 1942, under the leadership of Captain Muriel Colson.
The purpose of the corps being to provide a reserve of trained women to supplement regional and local civilian defense; the women were trained in motor transport, canteen, hospital evacuation, first aid, chemical war- fare, community service, mobile casualty, and communications.
In February, 1944, the Massachusetts Women's Defense Corps was transferred from the jurisdiction of the State Committee on Public Safety to the military division of the Commonwealth.
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