USA > Massachusetts > Hampden County > Our County and Its People A History of Hampden County, Massachusetts > Part 5
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THE CITY OF HOLYOKE
Rand, Martin L. Griffin, James H. Wylie, jr., H. M. Kendall, Dwight O. Judd. George L. Thorpe, C. R. Adams, Dwight God- dard, Thomas R. Humeston and William A. Aiken.
The association was formally organized, constitution and by-laws were adopted, and the first officers and directors were elected, June 15, 1886. For a few years the association occu- pied rented rooms on High street, and on June 19, 1889, a com- mittee was chosen to purchase property at the corner of High and Appleton streets. In the following fall, a sufficient fund having been acquired, a building committee was chosen, under the direction of which plans for the present Y. M. C. A. build- ing were prepared and adopted. The work of construction was begun in 1891, and the corner-stone was laid April 23, 1892. The structure was completed and occupied in 1893. The land cost $40,000 and the building cost about $88,000.
The association now numbers 675 members, and is regarded as one of the most worthy and useful institutions of our city. Since its organization the officers of the association have been as follows: James H. Wylie, jr., president; Charles R. Adams, vice-president ; H. M. Kendall, treasurer; Dwight O. Judd, re- cording secretary, June-October, 1886. James H. Wylie, jr., president; Charles R. Adams, vice-president; Howard M. Ken- dall, treasurer : Dwight O. Judd, recording secretary, 1886-87. James H. Wylie, jr., president; Chas. R. Adams, vice-president; Joseph A. Skinner, treasurer; Lewis E. Bellows, recording sec- retary, 1887-88. James H. Wylie, jr., president; Charles R. Adams, vice-president; Joseph A. Skinner, treasurer; J. A. Skinner, recording secretary, 1888-93. A. W. Esleeck, president; John Hildreth, vice-president; T. H. Fowler, treasurer : L. E. Bellows, rec. sec., 1893-94; A. W. Esleeck, pres- ident ; John Hildreth, vice-president; T. H. Fowler, treasurer; F. B. Towne, rec. sec., 1894-97. Joseph A. Skinner, president; John Hildreth, vice-president: T. H. Fowler, treasurer; F. B. Towne, rec. see., 1897-1900. C. W. Rider, president; John Hil- dreth, vice-president ; F. B. Towne, treasurer; J. H. Wylie, jr., rec. sec .; R. P. Kaighn, general secretary, 1900-01. C. W. Rider, president : John Hildreth, vice-president ; F. B. Towne,
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treasurer; J. H. Wylie, jr., rec. sec .; E. G. Randall, gen. sec., 1901-02. Directors, 1902-John Stalker, George L. Thorpe, C. S. Hemingway, E. P. Bagg, A. W. Esleeck, Joseph A. Skinner, S. H. Whitten, A. J. Rand, Edward W. Chapin, Henry A. Chase, William Morrison, T. H. Fowler.
HOLYOKE STREET RAILWAY COMPANY
The charter of the Holyoke Street Railway company bears date June 11, 1884. The incorporators were William A. Chase, Charles B. Prescott, Jeremiah A. Sullivan, Franklin P. Goodall, George H. Smith, William S. Loomis, George E. Dudley, Wat- son Ely, Simeon G. Gaylord, Henry E. Gaylord, William H. Gaylord, John Gaylord, Patrick J. Harkins, George P. Ellison, William H. Brooks, Willard Ely, W. D. Nichols, Helen D. Pen- dleton, Anthony White, Julia D. Patten, Hiram Smith, James M. Barton, Thomas C. Page, George G. Hitchcock, Mrs. George G. Hitchcock, Orrin Garvin. William Grover, Elwin D. New- comb, William E. Syms, John K. Judd, Mary Ann Alvord. "and others," as is expressed in the charter.
Although the persons mentioned were the guiding spirits of the enterprise and were convinced that a line of street rail- way, operated with horse power, between South Hadley Falls and South Holyoke would benefit all commercial interests in the city, and also would prove a profitable investment for stock- holders, it is doubtful if any of them who were actively identi- fied with the enterprise in its inception ever believed that their first line of street railway would develope into the splendid sys- tem of the present day. This result has indeed been accom- plished. although under a new management the company has achieved its greatest success.
The first board of directors comprised William A. Chase, Charles B. Prescott, Dr. George H. Smith, Franklin P. Goodall, George E. Dudley, Jeremiah A. Sullivan, William S. Loomis, Simeon G. Gaylord and Hiram Smith. The officers were Wil- liam A. Chase, president : C. Fayette Smith, treasurer: H. M. Smith, superintendent ; and William H. Brooks, clerk of the corporation.
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THE CITY OF HOLYOKE
The line of road authorized to be built and operated under the provisions of the charter. began at the corner of Main and South streets in South Holyoke, and extended thence to North Main street in South Hadley Falls, a distance of 10,872 feet. At this time it was the purpose of the company to build a loop around the Boston & Main R. R. station in Holyoke, a distance of 900 feet, but this part of the proposed line was abandoned. The line from South Hadley Falls to the corner of Main and Dwight streets was opened September 24, 1884, and the entire road to South Holyoke was opened for traffic October 15 of the same year.
The first extension of the original line was made in 1886, when a road was built from the junction of Main and Dwight streets through Dwight, High and Appleton streets to Beech street. This extension was opened June 24, 1886. Later on in the same year the line was extended from Beech street to the corner of Pleasant and Lincoln streets, on the highlands, and was opened November 20. Still later the line was extended to the corner of Northampton and Lincoln streets, and from the latter point was extended through Northampton street to Moun- tain park, and opened for traffic to that now famous resort July 7. 1895. The further extension to Mt. Tom Junction on the Northampton road (about 3 miles) was opened October 20, 1900. At the Junction the local road met the lines built by the North- ampton Street Railway company, and thereby Holyoke was given direet "trolley" connection with the county seat of Hamp- shire county. and also with Easthampton by convenient change of cars at the junction.
The Elmwood line, extending from High and Appleton streets through High, Cabot, Maple and South streets, Brown avenue. Laurel and Northampton streets to a point near the Baptist church in Elmwood, was opened August 9, 1891.
The Oakdale line, the first original electric line in the city system, extending from the corner of Maple and Sargeant to Northampton street, was opened June 19, 1892.
The original line of road through Main street was extended from the old South Holyoke terminus to Springdale, August 7,
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THE CITY OF HOLYOKE
1892, and from the latter point south to Riley brook (where it met the line from Springfield) July 22, 1895; and thus Holyoke and Springfield were united by an excellent electric railway on which regular ten-minute service is maintained during eleven hours, with fifteen-minute service five and a half hours, and with limited service throughout the night.
The Chicopee Falls line, extending from the corner of Main and Cabot streets (although the cars start from the city hall) to Chicopee Falls, a distance of about four miles, was opened August 13, 1895; and at the Falls the line connects with the Chic- opee Falls lines of the Springfield street railway system.
The South Hadley Falls line, that part of the original road which had its eastern terminus at the corner of Bridge and Main streets, was extended from the point mentioned to the center of the town of South Hadley (about 3 miles) and was opened for traffic May 31, 1896.
The extension from the city hall through High, Hampden, Washington and Lincoln streets to the corner of Pleasant and Lincoln streets, was opened October 1, 1897.
The extension from the junction of Meadow and Chicopee streets, in Willimansett, to the end of the covered bridge over Chicopee river (a distance of about 3 miles) was opened Decem- ber 1, 1897.
The now known Hospital line, an extension of the Oakdale line to the corner of Northampton and Cherry streets, was opened in 1900.
Thus has the Holyoke Street Railway company, through its managing officers, developed its road from a single line extend- ing from South Holyoke to South Hadley Falls, to one of the most complete systems of street railway of which any city in New England can boast. Previous to 1891 the lines were operated with horse power, but on August 9 of that year all cars were running with electric motor power; and all subsequently constructed lines or extensions were put into operation with motors.
The company under its original organization operated its lines without material change, with not better than indifferent
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OUR COUNTY AND ITS PEOPLE
financial results, until 1888, when the management passed into other hands. Mr. Chase then was superseded in the presidency by Levi Perkins, and at the same time Mr. Smith was succeeded as treasurer by William S. Loomis, who also was elected to the equally important office of manager. In 1896 Mr. Loomis was elected president of the company and has held the office, as well as that of general manager, to the present time: and a sense of duty impells the writer to remark that in a great measure the success and popularity of the Holyoke system of electric street railways has been due to the efforts of the president and general manager, and the hearty co-operation accorded him by his as- sociate directors and officers.
On Angust 9, 1891, the system was equipped and operated with electric motor cars. The power-house was built in the same year and now, with recent enlargements, is capable of fur- nishing 4,000 horse power. The original capital of the com- pany was $25.000, but the constant extension of its lines of road has necessitated frequent increases in the issue of stock, until the present capital is $700,000, added to which is $335,000 in bonds, constituting an aggregate capital of $1,335,000. The company operates about forty miles of road, with a minimum number of about twenty-five cars constantly in motion (during the summer season as many as seventy cars are in service), and is one of the large employers of labor in a city famous for its wage-earning population.
The Holyoke Street Railway company is the lessee of the line of road owned by the Mt. Tom Railroad company, the latter a corporation with a capital of $100,000, and comprising in its board of directors several officers and directors of the Holyoke company. The Mt. Tom Railroad company began operations June 17, 1897. and the lease, which runs for twenty-five years. bears date June 1, 1897. The splendid work accomplished by the Mt. Tom company in beautifying Mountain park and erect- ing a commodious summer house on the highest peak of Mt. Tom range, is certainly deserving of at least passing mention in this chapter. although both park and mountain are beyond the limits of Hampden county.
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THE CITY OF HOLYOKE
The present officers of the Holyoke Street Railway company are : William S. Loomis, president and general manager ; Wil- liam R. Hill, secretary and treasurer (chosen secretary to suc- ceed Mr. Brooks in 1892, and chosen treasurer to succeed Mr. Loomis in 1896) ; William S. Loomis, William R. Hill, Jeremiah F. Sullivan, John G. Mackintosh, John Olmsted, Frederick H. Harris and Newrie D. Winter, directors.
FINANCIAL INSTITUTIONS
Previous to 1851 each manufacturer and merchant in the Ireland parish was his own banker, and not infrequently in the early history of the town it was the custom of some one of the larger business men to act as banker for his neighbors. This custom, however, did not prevail for any considerable time, and as soon as the Hadley Falls company was put into active oper- ation interested proprietors took steps toward the organization of a regular banking house under the laws of the state. The result was the incorporation of the Hadley Falls bank, with an original capital stock of $100,000, and it was named in allusion to the water power company (then operating the canal system), through whose influence the banking corporation was brought into existence. The bank was organized May 24, 1851, and in 1853 it became desirable to increase the capital stock to $200,000.
The first board of directors comprised John Ross, N. D. Perry, Cyrus Frink, J. Miller, R. G. Marsh. Whiting Street, A. D. Chapin and William Melcher, some of whom at the time were not residents in the town of Holyoke. Mr. Street declined a place on the board of directors, and Chester Crafts was elected in his stead. The first officers were C. B. Rising, president, and J. R. Warriner, cashier. This pioneer banking institution en- joyed a prosperous existence for nearly fourteen years, and sur- vived the water power company in allusion to which it was named ; and even the collapse and ultimate failure of the im- provement company had no serious effect upon the solidity of the financial institution.
The Hadley Falls National Bank .- In 1865 the stockholders and directors of the Hadley Falls bank determined to reorgan-
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OUR COUNTY AND ITS PEOPLE
ize their institution in conformity with the provisions of the na- tional bank act. At the time it was suggested that the name be changed to the First National bank of Holyoke, but it was soon determined to retain the name of the old pioner institution, which had weathered the financial storm of 1857 and the conse- quent failure of the Hadley Falls company. Therefore, the re- organized concern took the name of Hadley Falls National bank, being No. 1246 in the numerical order of banks established under the act of congress of 1863. The first officers of the new bank were C. W. Ranlet, president, and Hubbell P. Terry, cashier.
From the time of the reorganization (April 3, 1865) to the present day, the Hadley Falls National bank has held an en- viable position among the successful financial institutions of this state; never has passed a dividend; never has met with serions losses, and on a capital of $200,000 has paid dividends aggrega- ting $726,000. Its total net earnings since the reorganization amount to the sum of $867,312. In business circles the policy of the Hadley Falls National bank has sometimes been regarded as conservative, yet results have shown a policy liberal enough to gain the entire confidence of the community of manufacturers and have given it a standing for safety and solidity which cer- tainly are enviable and a source of gratification to stockholders and directors.
Mr. Ranlet was the first president of the reorganized bank, and was the active spirit in its management until January 15, 1900, when he was succeeded by Mr. Prescott. Mr. Terry be- came cashier of the old Hadley Falls bank in 1864; was chosen to the same office upon reorganization, and still serves in that capacity ; and in a good measure the success which has followed the bank through all later years of its history has been due to his ever consistent business methods and excellent judgment. Still another factor for good in the history of the bank, as well as in the history of many other institutions of the city, was the late William Skinner. He served as director for twenty-seven years, and as vice-president for twelve years. He died Feb. 28, 1902.
According to the latest published statement of its condition the Hadley Falls National bank has resources amounting to
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THE CITY OF HOLYOKE
$636,029.98; a surplus fund of $100,000; an undivided profit ac- count of $47,790.08; and a deposit account of over $235,000.
Since the original incorporation in 1851 the succession of presidents is as follows : C. B. Rising, Rufus D. Woods, A. D. Chapin, Charles W. Ranlet and Charles B. Prescott. During the same period the cashiers have been J. R. Warriner, Charles W. Ranlett and Hubbell P. Terry. The present directors are Charles W. Ranlet, William Skinner (deceased, vacancy not filled ), Charles B. Prescott, Philander Moore, Ernest Lovering, Robert Ranlet, John H. Preston and Hubbell P. Terry.
The Holyoke National Bank, No. 1939, was organized in 1872, its doors being opened for business Feb. 8 of that year, with William Whiting, president; Robert B. Johnson, vice- president, and F. S. Bacon, cashier. The first directors were William Whiting, Robert B. Johnson, George C. Ewing, J. G. Mackintosh, Joel Russell, Levi Perkins and George W. Prentiss. The bank began business with an original capital of $150,000, but in the course of a year the amount was increased to $200,000.
At the time the Holyoke National began business there was only one other regular commercial bank in the town, al- though the population was about 12,000 inhabitants, and the mercantile district had extended up Dwight street to High street. The incorporators and directors were among the leading manufacturers of the region, hence any institution founded un- der their influence and support could hardly fail of success; and success certainly has marked the financial career of this bank throughout the entire period of its history, and particu- larly during the last twenty years.
In proof of this statement let us turn to the report of the condition of the bank in 1881 and compare certain of its figures with those shown in the report of Feb. 25, 1902. In the year first mentioned the aggregate resources of the bank amounted to a little more than $776,000, including $200,000 capital. The surplus fund then was $28,500, with an undivided profit account of $15,534.63. The aggregate of individual deposits subject to check was $307,692.45, and of certificate deposits subject to de- mand, $24,058.64. As shown by the report of Feb. 25, 1902,
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the total resources of the bank amount to $1,324,973.38, with a surplus of $100,000 and an undivided profit account of $49 .. 274.46. The deposit account, subject to check. exceeds $746 .. 000, and the demand certificate account is more than $51.400. Assuredly these figures indicate that this has been a successful institution and that its progress has been steady and permanent : and justice impels us to state that in banking and other business cireles in the Connecticut valley the Holyoke National is re- garded as one of the safest and most progressive financial con- cerns in the region. The bank never has passed a dividend, never has had its surplus nor capital impaired by any disaster. and has paid an average annual dividend of 9 per cent. for seventeen years.
Mr. Whiting was president of the bank from its organiza- tion until 1887, when he was succeeded by George W. Prentiss The latter was followed in 1892 by Charles H. Heywood, who continued in office until his death in April, 1896. Robert B. Johnson succeeded Mr. Heywood and was president until his death, Nov. 1, 1899, when George W. Prentiss was elected. The present president, George C. Gill, was elected in January. 1901. In the cashiership the changes have been less frequent. Mr. Bacon was followed by Charles B. Fish, and the latter by W. G. Simons. The present cashier, William G. Twing, began his ser- vice in December, 1879, and for more than twenty-two years has been the active financial manager of the affairs of the bank.
The present officers and directors of the bank are as fol- lows: George C. Gill. president ; Robert Russell, vice-president : William G. Twing. cashier: George C. Gill, A. A. Coburn, D. H. Ives, Robert Russell, Charles E. Ball, James N. Thayer and Wil- liam G. Twing, directors.
The City National Bank (No. 2430) of Holyoke was incor- porated August 22. 1879, with an original capital of $200.000. The first board of directors comprised a number of the promi- nent business men of our own city, and others from adjoining towns. They were Joseph C. Parsons, John S. MeElwain. Jo- seph Carew, Joel S. Webber. Timothy Merrick. James H. Newton. Charles B. Prescott, Edward C. Taft, Frederick H. Harris. Nehe-
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miah A. Leonard, Emory Meekins, Fred Harris, Aaron Bagg, Henry A. Gould and Hiram Smith. The first officers were Joseph C. Parsons, president, and Edwin L. Munn, cashier.
The City National bank began its business career at a single desk in rooms on Dwight street, then (and still) occupied by the Mechanics' Savings bank, but within the next ten years new and especially fitted quarters became necessary by reason of the busi- ness the bank was then doing. Indeed, in 1888 the bank was virtually reorganized and the capital was increased to $500,000, and when the new quarters at No. 26 Dwight street were occu- pied the City National became known as the best and most con- veniently located banking house in Holyoke and as one of the best equipped financial institutions in Western Massachusetts. In its business policy since reorganization the bank has gained a reputation equal to that of any financial concern in Hampden county, and has become widely known on account of safe busi- ness methods and liberality in dealing with customers and de- positors. The result is that this bank carries the largest deposit account of any commercial banking house in Holyoke. The lat- est statement shows total deposits subject to check of over $779,- 000, and certificate accounts amounting to more than $20,000. The surplus is $100,000; undivided profits, $23,607.61.
Mr. Parsons was president of the bank until his death, in 1886, and was succeeded by Charles B. Prescott, who continued in office until 1889. In January of that year Timothy Merrick was elected and served until his death, in 1894. when William Skinner, jr., was chosen his successor. In January, 1897, C. Fay- ette Smith was elected president and since that time has been the active manager of the bank's business affairs. His prede- cessors in the presidency generally were men whose other im- portant business enterprises demanded much of their attention, and while nominally and in fact presidents of the bank, the duties of the management devolved upon the cashier. Mr. Smith acquired his practical business training in the Hadley Falls Na- tional bank and was made cashier of the City National in 1884. hence under his management the reorganization above referred to was effected. As cashier Mr. Munn was succeeded by Mr.
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Smith in 1884, and upon the election of the latter to the presi- dency, January, 1897, Alvin F. Hitchcock was chosen cashier.
The present directors of the bank are John S. McElwain, Joel S. Webber, Lemuel Sears, Edward P. Bagg, Claudius W. Rider. Timothy H. Fowler, Arthur B. Chapin, C. Fayette Smith and Henry E. Gaylord.
The Home National Bank (No. 3128) of Holyoke was or- ganized February 5, 1884, with $250,000 capital, and in the com- paratively brief period of its business career has attained a posi- tion among the first banking houses in Western Massachusetts. It was the first bank in Holyoke to place safety deposit boxes in its vaults, and also set the example in the city in elegant office equipment and absolute safety against possible attacks of safe- breakers.
The first board of directors comprised James H. Newton, Edwin L. Munn, Anderson Allen, Daniel H. Newton, John De- laney, Moses Newton, John C. Newton, James Ramage, George A. Clark, Joel S. Webber, Herman Stursburg, jr., Edward C. Rogers, Josephus Crafts, Frederick Taylor and George W. Mil- lar. The first officers were James H. Newton, president, and Edwin L. Munn, cashier.
Few changes have been made in the personnel of the offi- ciary of the Home National bank during the eighteen years of its successful business career. Mr. Newton, the first president, is still in that position. Mr. Munn was cashier from the date of organization until January, 1892, when he was succeeded by Fred F. Partridge, the present cashier and active manager of the bank, and who, in the capacity of teller, took the first deposit offered when the bank opened its doors for business in 1884. For three years previous to that time he was an employee in the City National bank.
The latest published report of the condition of the Home National bank shows a capital of $250,000, a surplus of $50,000, undivided profits, $42,815.69, and deposits, subject to check, amounting to $589.794.45; demand certificates, $21,160.57; ag- gregate resources, $1,008,598.68. In itself this statement is am- ple evidence of the solidity of the bank, and also is evidence of confidence in its management on the part of our business men.
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The present directors of the Home National are James H. Newton, John Tilley, James Ramage, William Jolly, James S. Newton. George A. Clark, J. A. Sullivan, Oren D. Allyn, Sey- mour E. Gates, Lewis M. Gaylord and Fred F. Partridge.
The Park National Bank (No. 4703) of Holyoke was organ- ized February 20, 1892, with $100,000 capital, by Edwin L. Munn, its first and present president, who was the principal or- ganizer of the City National bank in 1879, and also of the Home National bank in 1884, he having been the first cashier of each of these institutions. The first directors of the Park National were Josephus Crafts. Edwin L. Munn, William F. Whiting, M. M. Belding. James T. Abbe. William H. Brooks and H. D. Brad- burn. The first cashier, George W. Parker, formerly teller in the Home National bank, still serves as cashier of the Park Na- tional.
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