USA > New York > Jefferson County > History of Jefferson County, New York, with illustrations and biographical sketches of some of its prominent men and pioneers > Part 41
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The cotton-yarn mill, operated by the Remington Paper Company, is situated on the south side of the river, near the upper dam. It was established in 1875, on a capital of $15,000. Forty persons are employed, 60 horse-power is used, and the mill is capable of producing $25,0. 0 worth per annum. The product is shipped to New York.
Gilderoy Lord's foundry is situated on Mill street, Bee- bee's island. Plows, cultivators, horse-rakes, etc., are made. The capital of the concern is $50,000; 12 hands are em- ployed ; annual product $30,000, and 25 horse-power.
York & Moore, manufacturers of sash, doors, and blinds, established their business in 1870, with a capital of $10,000. Employ 20 hands, use 50 horse-power, and did $25,000 worth of business in 1876, using 100,000 feet of lumber.
L. Case & Son manufacture sash, doors, and blinds, grain- separators, etc. Established 1869; capital, $8000; employ 20 men, use 120 horse-power, and do an annual business of $20,000, using 130,000 feet of lumber.
Lewis, Henrich & Rounds, manufacturers of furniture. Established in 1871; capital, $17,000; employ 20 men ; use 50 horse-power; manufactured, in 1876, $40,000 worth, using 85,000 feet of lumber. Their works are situated near Factory street. The firm manufactures much of the wood-work for the Davis Sewing-machine Company.
Service, Georges & Du Bois, manufacturers of furniture. Business established by Service, Georges & McGillis in 1865, as at present, in April, 1876; capital, $18,000; hands employed, 10; products, $28,000 per annum.
Mill & Jess, confectionery, cigars, and bakery ; established in 1863; capital, $35,000; employ 25 persons; use 10 horse-power; manufacture 400,000 cigars annually ; use 2000 barrels of flour in the bakery. Did a business amounting to $70,000 in 1876. Works in Factory Square.
George C. Chambers, cigar-manufacturer. Business estab- lished in April, 1875 ; employs 13 hands, and makes 200,000 cigars per annum. Works in Arsenal street.
H. V. Caldwell & Co. manufacture confectionery and eigars, employing 11 men.
Baker & Chittenden, manufacturers of cigars. Established 1851; employs ten men ; product, 125,000 cigars annually. In former years have made as high as one million cigars per annum. Charles Weidner, manufacturer of cigars. J. A. Quencer, cigars and tobacco; three men employed. Gustave Meyer, cigars and tobacco, 8} Court street.
W. Allingham & Co. manufacture boots and shoes ; business established 1876; capital, $3000. Emuploy 14 hands ; capacity, $23,000 worth per annum. Product sold east and west and in local market.
Holden and Tilden, manufacturers of tin-ware. Business established in 1852, by Goodnow, Holden & Co., with six peddlers. In 1865 the firm changed to Goodnow & Holden,
and in 1870 to the present name. The firm have estab- lished two branches of their business, one in Syracuse and the other in Potsdam. The three establishments keep sixty wagons on the road, whose drivers eanvass the greater por- tion of northern New York and a portion of the central counties of the State. These peddlers buy annually eight hundred tons of rags and old brass, copper, lead, tallow, hides, and pelts in proportion. The works of the house in Watertown are situated at the corner of Arsenal and Mas- sey streets.
Gates & Spratt, established in 1872, employ twelve men, and do a business of about $40,000 per annum, in tin, cop- per, and sheet-iron ware, roofing, plumbing, and furnace work. Their establishment is on Public square.
L. Quencer, bakery, Nos. 3 and 4 Arsenal street. George W. Bassinger, bakery, 71 State street.
Holbrook Patent Blind-Hinge Manufacturing Company, W. G. Williams, secretary, east side Factory square. J. J. Bragger, Son & Beffrey, brass-founders, steam- and gas-fitters, No. 5 Public square. D. S. Robbins, 62 Factory street, and F. Schneible & Co., 68 Court street, candle-manu- facturers.
The carriage- and sleigh-manufacturers embrace the fol- lowing: Charles W. Acker, 42 Factory street; George A. Adzit & Son, 6 Le Roy street, corner Main ; A. L. Darling, 16 Franklin street ; Emerich & Meader, 92 and 94 Court street ; Eli Hamlin, 53 Factory street ; Horton & Dodge, 16 Coffeen street ; J. A. & H. H. Potter, 14 Fac- tory street ; A. W. Vancoughnet, 156 Main street ; William Wilson & Co., 12, 14, and 16 Water street.
The cooperages are those of John L. Putnanı, 19 Pine street, and W. Tucker, 9 Front street.
The marble-cutters and dealers are : H. F. Ferrin, estab- lished in 1852, 39 Court street ; sales 1877, $108,000. Foster M. Ferrin, established 1856, 3 Jackson street. J. M. Ferrin, the father of the two last named, established the business now pursued by his sons in 1840, having been engaged in the same business for twenty-six years previously in Vermont. George Van Vleck also is engaged in the same line at 70 Court street, where he established his busi- ness in 1872.
Planing-mills and moulding-manufacturers : Graves & Van Doren, 23 and 25 Mill street ; Sloat, Greenleaf & Co., 11 Eames street, Beebee's island (an extensive luniber- yard in connection ), and A. Frost, 28 Mill street.
Other manufacturing establishments are : V. R. Harvey, sash, doors, and blinds, 8 Mechanic street ; Charles Partello, saw-manufacturer, 47 Public square; J. A. Fosgate, saw- mills, 17 Fairbanks street ; J. H. Henderson, tile- and sewer- pipe, 100 Arsenal street ; Sampson & Roughsedge, file- works, 26 Factory street ; Tyler, Harmon & Co., foundry, 19 Factory street ; Harbottle & Howard, manufacturers of Howard's hot-water carving-tables, 38 Public square; and F. Ryne, 35 Factory street, and Leopold Py, 27} Factory street, dyers.
BANKING.
The earliest movement towards the establishment of a bank in Jefferson County was made in 1807. A petition was sent to the Legislature praying for a loan to the county of $150,000 on good landed security, in bills of credit to
GENDRON, PHOTO-
EDWARD S. MASSEY.
RESIDENCE OF EDWARD S. MASSEY, No.50 MASSEY ST., WATERTOWN, N. Y.
PHOTO. BY GENDRON.
V. S. HUBBARD.
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GROCERIES, PROVISIONS TEAS COFFEES.
FRUITS, CONFECTIONARY29
HUBE
V. S. HUBBARD'S BLOCK, PUBLIC SQUARE .. . WATERTOWN, N. Y.
RESIDENCE OF VOLNEY STOW HUBBARD, No. 1 STATE ST., WATERTOWN, N. Y.
153
HISTORY OF JEFFERSON COUNTY, NEW YORK.
be made a legal tender. This was not granted, upon the ground that the Constitution of the United States pro- hibited State governments from making anything but gold and silver eoin a legal tender. In 1808 the State loan of $10,339.86 was received by the county, and in 1837 the United States deposit of $130,779.86 for loans to the peo- ple, as fully described elsewhere.
THE JEFFERSON COUNTY BANK
was the first banking institution organized in Jefferson County. Its projectors were the pioneers in the business enterprise of this section of the State, who were determined to develop its resources, and felt the need of a bank to facilitate exchanges.
The bank was incorporated by an aet passed April 17, 1816, on a petition from John Brown, Roswel Woodruff, Eliphalet Edmonds, David I. Andrus, Ethel Bronson, Jabez Foster, Egbert Ten Eyck, Hoel Lawrence, Frederick White, Abel Cole, and others, to continue until January 1, 1832, with a capital not exceeding $400,000, in shares of $10 each. Elisha Camp, of Hounsfield, Jesse Hopkins, of Henderson, Ebenezer Wood, of Ellisburg, Jabez Foster, of Watertown, Clark Allen, of Lorraine, Samuel C. Ken- nedy, of Rodman, Ethel Bronson, of Rutland, John Dur- kee, of Champion, Thomas Brayton, of Wilna, Silvius Hoard, of Antwerp, Musgrove Evans, of Le Ray, John Paddock, of Brownville, and Eliphalet Edmonds, of Adams, were appointed to apportion the stock and locate the site of the banking-house. These met at Watertown, and after a prolonged and exciting strife between Watertown and Brownsville, the latter, uniting with other interests, suc- ceeded in getting it located at Adams. The first dircetors, elected June 20, 1817, were John Paddock, Hoel Law- rence, Ebenezer Wood, Clark Allen, David 1. Andrus, S. F. Hooker, Elisha Camp, Frederick White, David Hale, Samuel C. Kennedy, John Cowles, Eliphalet Edmonds, and Joseph Sterling. The first president was J. Paddock.
The bank went into operation with a paid-up capital of only $50,000, and such was the scarcity of money, only a fraction of the amount was paid into the bank at the time of its opening business.
The bank did not succeed at Adams, and, after a tempo- rary suspension, was in 1824, by an act of the Legislature, removed to Watertown. The directors, by this act, were required to own at least $500 stock. The charter was further amended April 14, 1830, and the capital was in- creased to $80,000. May 19, 1836, the capital was in- crcased from $80,000 to $200,000, and commissioners appointed to receive subscriptions in shares of ten dollars each. In 1837 an ineffectual effort was made to get this act repealed. In 1828 it became one of the safety fund banks, and remained such until 1853, when it was reorga- nized under the general banking laws of the State. In 1865 it became a National Bank, and remains such to the present time.
Through all these years, reaching from 1824 to 1877, this institution has been prominent in affording financial assistance and encouragement to any enterprise calculated to foster the general good, and its stockholders have re- ceived a fair return for their money invested therein.
Its presidents have been, John Paddock, 1816; Jabez Foster, 1817-19 ; Ethel Bronson, 1820-25; Jabez Foster, 1825-26 ; Perley Keyes, 1826-33; Micah Sterling, 1833 -34; Orville Hungerford, 1834-45 ; Norris M. Woodruff, 1845-54; R. Lansing, 1855-56; H. Camp, 1857-77. The cashiers have been, James Wood, 1816-20; O. Hun- gerford, 1824-33; O. V. Brainard, 1833-66; Myers Thompson, 1866-71 ; S. T. Woolworth, 1871-77. During the long period of time while Mr. Hungerford and Mr. Brainard were the cashiers, they were the able chief finan- eial officers. Since 1857 T. H. Camp has occupied that position.
The present directors are T. H. Camp, R. Lansing, P. Mundy, W. C. Pierrepont, J. C. Sterling, A. . M. Farwell, Levi H. Brown, R. E. Hungerford, L. A. Johnson, G. R. Massey, and J. C. Knowlton. Robert Lansing is now the director longest in office, and has been prominent as viec- president, having given considerable attention to the bank, although he declined to continue as its chief officer. The last quarterly statement, published October 1, 1877, gives the following exhibit : loans and discounts, $408,048.68 ; capital stock, surplus, and undivided profits, $207,909.91 ; circulation, $86,370 ; deposits, $291,991.88.
A publie meeting was held at Watertown, November 27, 1832, at which strong resolutions were passed in favor of the formation of a new bank, and a committee, consisting of J. Fairbanks, N. M. Woodruff, L. Paddock, E. Ten Eyck, John Fay, L. Beebee, J. Sigourney, William Ruger, and L. G. Hoyt, were appointed to draft a petition for a charter for an institution to be called the " Watertown Bank." The measure failed of accomplishment, and a second bank was not established in Watertown until after the passage of the general banking law in 1838.
THE BANK OF WATERTOWN.
A meeting of citizens of the county was held in De- cember, 1838, for the purpose of organizing a bank under the general law. O. Hungerford, L. Paddock, N. M. Woodruff, W. H. Angel, and H. D. Sewall, were appointed to arrange the articles of association. The Bank of Water- town was accordingly formed, commencing operations Jan- uary 26, 1839, with $100,000 capital, the first president being L. Paddock, and the first cashier W. H. Angel. The presidents were L. Paddock, Willard Ives, John L. Goldsmid, T. C. Chittenden, and W. H. Angel. The latter succeeded to the principal ownership of the bank, the capital of which was about $50,000. It elosed up its business after the commencement of the War of the Rebellion, under the laws of the State.
TIIE NATIONAL BANK AND LOAN COMPANY
was organized as a State bank by George C. Sherman, Jan- uary 20, 1839, under the name of the Watertown Bank and Loan Company, with a capital of 8100,000. Mr. Sherman also organized in January, 1849, the Merchants' Exchange Bank, but soon after merged it in the first-named institution. The State bank was reorganized August S, 1865, under the national banking law, with its present name, with George HI. Sherman, president ; Charles A. Sherman, vice-president ; and N. P. Wardwell, cashier, with a capital
154
HISTORY OF JEFFERSON COUNTY, NEW YORK.
of $75,000. The officers remain unchanged at this writing. In 1853 the bank erected the elegant banking-house on the corner of Washington and Stone streets, which it still oc- cupies. This bank has remained in the family of George C. Sherman since its first organization, the sons succeeding to it as a portion of their patrimony, and conducting it with the efficient management of its founder. The last published statement of the bank shows its capital and sur- plus and undivided profits to have been, on the first day of October, 1877, $95,370.63; its circulation, $56,200; its deposits, $175,316.65 ; its loans and discounts, $199,285.17, and its real estate, etc., was valued at $22,130.50.
THE BLACK RIVER BANK
was opened May 25, 1844, with a capital of $100,000, of which Loveland Paddock owned nine-tenths, the remainder being held by Oscar and Edwin L. Paddock. It continued to transact business until 1868, when it went into voluntary liquidation, and closed up its business.
THE NATIONAL UNION BANK
of Watertown was organized as a State bank under the name of the " Union Bank," June 10, 1852, with the fol- lowing incorporators and stockholders : Henry Keep, George S. Goodale, A. M. Woodruff, Walter N. Woodruff, Abner Baker, who subscribed $2000 and upwards to the capital stock of $100,000; Washington Genet, Orrin C. Utley, Loveland Paddoek, Daniel Lee, J. H. Dutton, E. Q. Sewell, who subscribed $1000 each ; W. K. Hawks, John White, and John C. Sterling. The first election was held August 3, 1853, at which a board of thirteen directors were chosen, who, at their first meeting, elected Henry Keep president, W. K. Hawkes vice-president, and George S. Goodale cashier. On August 16, 1853, W. K. Hawks was elected president, and was succeeded by Abner Baker, August 7, 1855, John White being elected vice-president at the same time. August 4, 1856, S. B. Upham was chosen cashier, and has served in that position ever since. On October 4, 1858, Merrill Co- burn was elected president, and James K. Bates vice-presi- dent. August 8, 1865, the State bank was reorganized under the national banking law, with its present name, and the same officers as last named. Since that date the offi- eers have been as follows: Presidents, 1865 to July 9, 1869, Merrill Coburn ; July 9, 1869, to January, 1877, Alanson Skinner ; January 9, 1877, to present time, Gilde- roy Lord. Vice-Presidents, 1865 to 1873, James K. Bates ; January 14, 1873, to January 9, 1877, Gilderoy Lord ; January 9, 1877, to present time, John A. Sherman. Cashier, 1856-1877, Samuel B. Upham. The last pub- lished statement of the "National Union," dated October 1, 1877, gives the following exhibit : Loans and discounts, $330,276.88; real estate, ete., $32,291.83 ; eapital stock, surplus, and undivided profits, $193,821.70 ; circulation, $94,500 ; deposits, $258,446.39.
THE JEFFERSON COUNTY SAVINGS BANK
was incorporated April 5, 1859, with twenty-two trustees named in the act, thirteen of whom met some time before the 1st of July following and elected permanent officers, as follows : James I. Steele, president; Fred. Emerson, viee-
president ; John L. Marsh, secretary and treasurer ; Lafay- ette J. Bigelow, Peter Haas, and Merritt Andrus, loan com- mittce. The trustces adopted a code of by-laws, and limited deposits to a minimum of twenty-five cents, none less than one dollar to draw interest, the latter being established at five per cent. In 1861 there was a general reorganiza- tion, and a new board of trustees was elected, who elected new officers, except vice-president. The deposits at the date of the last published report in July, 1877, amounted to $423,822.55, and the loans and discounts to $392,666.99. The officers of the bank have been as follows : Presidents, 1859-61, James I. Steele; 1861-77, A. M. Farwell. Vice-President, 1859 to present time, 1877, Fred Emerson. Secretaries, 1859, John L. Marsh; 1860, Reuben Treat ; 1861, Henry W. Hubbard; 1861-77, George H. Sher- inan. Treasurers, 1859, John L. Marsh; 1860, Reuben Treat ; 1860, Henry W. Hubbard; 1861-77, Charles N. Ely. Present board of Trustees, Robert Lansing, A. M. Farwell, Gilbert Bradford, S. B. Upham, John L. Baker, W. Hubbard, George H. Sherman, Fred. Emerson, D. B. Baldwin, R. E. Hungerford, George B. Phelps.
THE FIRST NATIONAL BANK
was the first bank organized under the national banking- law in Jefferson County, and among the first in the State, being No. 73, there being at the present time over two thousand. It was organized June 8, 1863, the banking- law being passed in February, 1863. The founders of this bank were Loveland Paddock and his sons Oscar and Edwin L. Paddock, the senior Paddock being its president from the organization of the same until his death, when he was succeeded by Edwin L. Paddock, who was previously the vice-president. Oscar Paddock was the cashier from the organization until the elevation of Oscar L. to the presi- dency, when he (Oscar) was made vice-president, and George L. Woodruff was 'ehosen cashier, and still remains at his post. Frank Smith is at present assistant cashier. The last published statement, dated October 1, 1877, makes the following exhibit : Loans and discounts, $83,409.99; capital, surplus, and undivided profits, $180,437.14; circu- lation, $86,700 ; deposits, $50,861.38.
MERCHANTS' BANK.
The above-named institution was first opened in 1865 by Hon. Norris Winslow, as an individual banker. The first eashier was John F. Lawrence, who held the office for about a year, when he was succeeded by John F. Moffett. This bank did a flourishing and prosperous business for the ensuing five years, when it was organized as a banking institution, under the State laws, with the same title, on April 1, 1870, with the following incorporators and stock- holders : Willard Ives, S. Pool, Henry W. Eddy, Andrew Smith, John Johnston, George B. Phelps, George W. Wig- gins, G. W. Candee, Norris Winslow, Judah Lord, Curtis Goulding, Jerome Ives, L. C. Greenleaf, Lotus Ingalls, John F. Moffett, Sidney Cooper, and John M. Carpenter, with a paid-up capital of $150,000. The first election was held April 4, 1870, at which a board of nine directors was chosen, viz. : Norris Winslow, Willard Ives, Henry W. Eddy, Andrew Smith, Sidney Cooper, George B. Phelps,
155
HISTORY OF JEFFERSON COUNTY, NEW YORK.
S. Pool, John M. Carpenter, and John F. Moffett, who, at their first mecting, eleeted the following officers : Norris Winslow, president ; Willard Ives, vice-president ; and John F. Moffett, cashier. The capital stock was increased May 20, 1872, by a unanimous vote of the directors, from $150,000 to $300,000. This was owing chicfly to the largely-increas- ing business eaused by the confidence of the community in the management of the institution. Mr. Winslow held the position of president until October 12, 1874, when he was succeeded by Hon. Willard Ives, who has since served in that capacity. The vacancy caused in the vice-presidency by Mr. Ives' aecession to the presidency has been very ably filled by Silvanus Pool since that time. Mr. John F. Mof- fett has been the cashier from the formation of the bank up to the present timc.
The present board of directors are as follows : Wil- lard Ives, Silvanus Pool, Henry W. Eddy, John M. Carpenter, Isaac A. Graves, I. L. Hunt, Jr., Henry O. Kenyon, Jerome Ivcs, J. F. Moffett. The last published statement, dated September 22, 1877, gives the following exhibit : Loans and discounts, $587,982.74; real estate, $28,652.25 ; capital, $300,000; surplus and individual profits, $31,926.93 ; deposits, $469,530.97.
INDIVIDUAL BANKS.
Wooster Sherman's Bank, Watertown, opened January 8, 1842, and now discontinued. Henry Keep's Bank, Watertown, opened September 28, 1847, discontinued. Mechanics' Bank, Watertown, by Henry Keep, begun Sep- tember 17, 1851, had no office for discount and deposit. Capital $20,000, and now discontinued. Citizens' Bank, es- tablished by Keep at Watertown, August 1, 1850, afterwards removed to Ogdensburgh, and in August, 1852, at Fulton, Oswego county. Frontier Bank, established by Keep at Watertown, removed, in the spring of 1851, to Potsdam.
The total banking capital of the present, employed in the city, aggregates the sum of $1,009,466; the deposits foot up the handsome sum of $1,669,969.82; while the loans and discounts on the same date (October 1, 1877) amounted to $2,001,670.45.
INSURANCE.
Watertown capitalists have invested largely in the forma- tion of insurance companies, and have realized handsome profits from the investments made. The companies now existing here have all been successful and prosperous, and have an excellent reputation at home and abroad.
THE JEFFERSON COUNTY MUTUAL INSURANCE COMPANY
was formed by a special act, March 8, 1836, by which Al- pheus S. Greene, Jason Fairbanks, Orville Hungerford, George C. Sherman, Eli Farwell, Norris M. Woodruff, Thomas Loomis, Isaac H. Bronson, John Safford, Edmond Kirby, William Boom, Joel Woodworth, and Joseph Shel- don and their associates, were incorporated during a period of twenty years. The directors named in the act met on the 17th of March, elected Norris M. Woodruff, president ; A. S. Greene, vice-president ; Robert Lansing, secretary ; N. M. Woodruff, A. S. Greene, J. Fairbanks, G. C. Sher- man, and E. Farwell, executive committee. The affairs of his company have been closed several years.
THE AGRICULTURAL INSURANCE COMPANY.
In August, 1851, a meeting of farmers of Jefferson and Lewis counties was held at the village of Evans' Mills, for the purpose of organizing an insurance company to take risks cxelusively upon farm property. At that meeting the following gentlemen were named as a board of corporators, viz .: Alden Adams, Ira A. Smith, Harrison Blodgett, John C. Cooper, Gideon S. Sacket, Isaac Munson, Evelyn F. Carter, Joseph Faycl, Loveland Paddock, Wolcott Stecle, Wm. P. Babcock, Ashley Davenport, Ira Beaman, Hiram Dewey and Levi Miller. At a subsequent meeting Alden Adams was elected president; Isaac Munson, viee-presi- dent; U. A. Wright, secretary ; and E. B. Fowler, general agent.
There was much delay in perfecting its organization, which was finally completed, mainly through the persistent energy of E. B. Fowler, who was the real founder of the Mutual company, in March, 1853. From this time until May, 1855, the company issued only about fifteen hundred policies. In January, 1855, John C. Cooper was elected president, in place of Alden Adams, and by special act of the legislature the office was changed from the village of Evans' Mills to the village of Watertown ; and on May 3, of that year, Isaac Munson was elected scerctary in place of U. A. Wright. After the removal of the office to Watertown the business began gradually to inerease, and the company to prosper, perhaps beyond any other mutual insurance company in the State, and continued to do so until 1862, when, in consequence of the failure of the greater number of the mutual companies in this State, and the closing up of their business by collecting and prosecuting their premium-notes, it became extremely difficult, where the company was not well known, to obtain premium-notes sufficient to keep the capital of the company intact. At a mecting of the directors a proposition was made to change from a mutual to a stock company. This requiring the consent of two-thirds of its policy-holders, it was deemed best to defer the change for one year. In the mean time, the required number of policy-holders having signed a petition, the change was effected January 9, 1863.
During its existence as a mutual, the Agricultural paid all its losses promptly, never taxed its premium-notes, and accumulated in ten years a surplus to the amount of $45,572. Having over $10,000,000 at risk, the superin- tendent of the insuranec department decided that this fund could not be divided, but must be held sacred to carry out the risks in force, while the capital paid in by the stoek- holders must be security for future policy-holders. After this decision every effort was made by the directors to in- duce the old policy-holders to take the new stoek, so that the ownership might not change, but with a preference to them of over sixty days in which to take the stock. But advertising and the personal effort of the officers were of little avail, so that less than one-third of the stock was taken by the old policy-holders, and the company com- menced its new career under the old officers, but to a large extent with new owners. The following increase each year in the number of policies issued will show the energy with which the business was conducted, and the popularity of the company :
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