USA > Vermont > Essex County > Guildhall > A history of Guildhall, Vt > Part 8
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Your committee are satisfied that when Mack & Town- send bought the stock, they knew that the notes and funds called capital stock were for the most part of no value, and that the assumed sum of $18, 820. sold them as capi- tal was mostly fictitious and false, and that they intended at the time of purchasing said stook, to raise the credit of
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HISTORY OF QUILDIIALE.
the bank, which was then at a low ebb, by redeeming its bills promptly in the city of New York, for a short time, and then to flood the country with them and let the bank fail, and that they were only prevented from fully con- summating their plan by their own failure, which took place soon after.
The bargain between Dewey and Mack & Townsend was privately made: neither the public, nor the officers of the bank, nor any other person that your committee have been able to find, knew of the terms and conditions of the sale of said stock until the bank hud wholly failed to re- deem its bills, which took place Aug. 14, 1839.
The terms of the sale were, as your committee are well satisfied, that Mack & Townsend paid $30. for each share of $20. the vendors to retain all accumulated surplus, es- timating the entire debts of the bank as solvent and col- lectable.
Your committee have no means of ascertaining with ab- solute certainty the time and mode of payments for the stock purchased by Mack & Townsend, but are well satis- fied that payments wero made at the time of purchase in the bills of banks, other than the Essex, borrowed for the express purpose, and that the loans thus obtained were afterwards paid in the bills of Essex Bank.
At the time of the sale, the bank had $44,907. of its bills in circulation, and owed other sums of money, and hrad in its vaults iu specie .$319.08 Foreign bills $1,200.00
State orders. .$60.00
Deposits in the Market Bank, Boston $991.64
Amounting to
$2.570.72
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HISTORY OF GUILDHALL.
The residue of its effects consisted of notes and accounts, more than $12,000. of which were and still are hopelessly bad, and of the remainder several thousands of dollars were very doubtful and still remain unpaid, and from which, in the opinion of your committee, very little, if anything, can ever be realized.
It is evident, from all the evidence in the case, that for 945 shares of the nominal value of $18,900. and made up mostly of worthless and protested paper, Mack & Town- send paid $28,350. in cash. This act and the circumstances attending it, carry internal evidence of the object of the parties: it was pregnant with mischief, and afforded an ample opportunity for the perpetration of the most out- rageous frauds upon the public.
Sept. 24, 1838, at a meeting of the board of directors, composed of John Dewey, Greenlief Webb, and W. Hey- wood, Jr., it was voted 'that John Dewey be allowed and paid $3,500. for his services as president of the bank from April 15, 1833, to Aug. 17, 1838, and for the balances of interest on his deposits up to the last date,' which sum was subsequently allowed to him; and although there is no evidence that said Dewey had previously received any- thing for his services, except when abroad on business of the bank, your committee are given to understand that the above vote, together with the dividend of March 11, 1839, were the means adopted to give the sellers of the stock the pretendedly accumulated surplus before men- tioned, in compliance with the contract with Mack & Townsend. On the 17th, and 20th, of Aug. and 12th, of Sept. 1838, the bank loaned Mack & Townsend $32,000. about one half of which was loaned on the paper of Mack, Patterson & Co., a firm composed of Mack & Townsend and one Thes, J. Patterson, who was then and still is a re- sponsible man. and the residue on the paper of Mack & Townsend; a part of the debt of Mack, Patterson & Co., was afterwards paid, and the remainder with the paper of Mack & Towusend, was renewed, and afterwards formed n part of their notes of $60.440. hereinafter describe d.
1.15
HISTORY OF GUILDHALL.
It was agreed between the officers of the bank and Mack & Townsend, at the time of the above loan, that Mack & Townsend should place funds in the hands of some person in the city of New York, for the redemption of the bills of the bank.
On the 25th. of August 1838, Mack & Townsend executed a bond of $20,000. to the bank, to secure the bank for loans made or to be made to them, with several sureties residing in the western part of the State of New York, who, there is reason to believe, were wholly irre- sponsible at the time.
On the 10th. of Sept. 1838, the directors voted an as- sessment of $5. on each share of the stock of the bank, and on the 24th. of the same Sept. a like assessment was voted.
The stock ledger shows a credit of $4,720. on account of the first assessment, but no other entry appears on the books in relation to it, and no other mention is made of the second.
The issue book shows that $107,600.00 of bills had been prepared for emission, $20,100.00 were prepared after the sale to Mack & Townsend, from blanks furnished by them $28,229. of which passed into the hands of the receiver, leaving $79,371 06 in circulation.
The bank was enjoined by the chancellor, Oct. 12, 1839, and its effects passed into the receiver's hands Nov. 4, '39.
From a statement of the receiver it appears, that when he took po-session of the bank, its outstanding bills were $79,371 .; of that sum 83,000. had been pledged for the payment of a loan and have since been returned to the re- ceiver, and 85,770. have been delivered to him by Houghtons & Co., brokers of the city of New York, as redeemed bills, exhibiting an actual circulation of $70,601.
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HISTORY OF GUILDHALL.
It was proved before your committee by the cashier of the bank, that the bank sent $10,000. to said Houghtons & Co., after the sale to Mack & Townsend, to redeem the bills of the bank, that he subsequently demanded the re- deemed money of them for the bank, but they refused to let him have it, saying that they should sell it to pay the liabilities of Mack & Townsend to them, and your com- mittee have strong reasons to believe that a large amount of bills presented to the receiver by pretended claimants. have been redeemed with the funds of the bank, and it is clearly proved that a large amount of the bills presented to the receiver for payments, were prosented by persons other than the real owners, and your committee. are not satisfied that they were so presented for any honest or honorable purpose.
One of the Houghtons appeared before your committee and requested to be examined, but before the examination closed, he utterly refused to answer questions put him. calculated to ascertain the amount of money re leemed by them with the funds of the bank, and how much money thus redeemed, he had caused to be deposited with the receiver in the names of other persons-and said he could not tell the amount of money redeemed by them, or the amount of funds received by them to redeem the bills with, within the sum of $5,000.
Hle however admitted that they had been employed by Mack & Townsend to redeem the bills, and that they had received funds to a considerable amount, both from Mack & Townsend and the bank, and that when they receivel the bills of the bank that were not to be put in circulation they punched a hole through them.
A large amount of the bills deposited with the receiver have holes punched through them, and some of the pack- nges appear not to have been separated since they were
147
HISTORY OF GUILDHALL.
punched in the manner described by Houghton-there is now in the hands of the receiver a package of $7,500. which was forwarded by Houghtons & Co. and deposited in the name of one J. W. Martin.
Mack & Townsend's notes are in the hands of the re- ceiver to the amount of $60,440.00 all of which bear date March 16, 1839, except one note of $5,000. with no security whatever except said $20.000. bond, which also pa-se! into the hands of the receiver, has been sned, judg- ment obtained and the excention returned nulla bona, both as to principals and sureties.
It is a remarkable fact that several of the notes now in the hands of the receiver against Mack & Townsend, correspond exactly in amount with several of the bills of sale of said stock, from Carlisle to Mack & Townsend.
At the time the bank receive l the $2),000. bond. it was accompanied by a certificate of the cashier of the Wayne County Bank, certifying that said bond was good.
The indebtelness of the bank, as reported by the cash- ier, other than as above stated, was $3,840.39 which accrued from money borrowed by John Dewey, on the notes of John Dewey, Greenlief Webb and Wm. Hey- wood, Jr., (against which, the said Dewey holds the in- demnity of the said Webb an I Heywood, ) to enable the bank to redeem its bills after the sale to Mack & Townsend; they having failed to furnish funds as they had agreed, said notes still remain outstanding and are unpaid.
The nominal assets of the bank, which passed into the hands of the receiver, were :- Discounte } notes and other evidences of debt $94,907.79.
John Dewey's receipts for notes hel.l
by him as collateral security $9,457.50.
Amounting to
$104,365.29
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HISTORY OF GUILDHALL.
included in the above are the notes of Mack & Townsend.
Of the debts other than those of Mack & Townsend, the receiver reports $10 or 12,000. absolutely bad, $6,402. collected, and a large proportion of the balance extremely doubtful. The time limited by the Chancellor for pre- senting claims against the bank to the receiver, expire i on the first day of Sept. 1842, at which time there had been collected by the bills of Essex Bank $5,639.
Deposited by claimants. $34,426.
Amounting to £40,065. which dedneted from $71, 001. leaves $30.536. still out- standing, and it is apparent that the bank has run un ler more than $ 60,000.
At the winding up of the business concerns of the bank. on the 11th, and 15th, days of August 1939, writs of attachment were issued against the bank, but no property of any value could be found, except $19.41 in specie, an 'Tron Safe,' some packages of unsigned bills, a few blank books, and a few sticks of sealing wax."
The committee then advanced its ideas to the Legisla- ture, etc., being composed of:
Davil Hibbard, Jr .. Daniel Cobb. Sewall Fullam.
Dated at Montpelier, Oct. 24. 1812. NEWSPAPERS.
Guildhall, (though at the present time not favored with a newspaper, ) has had at various times three papers.
"The Guildhall Methodist," a religious paper, publish- ed by the M. E. Church, having for its motto: "An earnest Christianity, a definite Experience, and a clenr Testimony," was issnod in April 1876. It wna probably an experimental sheet, for only one edition was published.
HISTORY OF GUILDHALL. 149
"The Guildhall News," a small sheet issued in 1878, was also an experimental paper, and only 3 e litions printed. "The Essex County Herald," our county paper, has arrived at that point, where, (if it ever were an experi- mental undertaking, ) all doubts are now removed as to its being a success, for it certainly is a success, and as it is at the present time managed, a great benefit to this section.
It has had its "ups and downs;" at times prosperous, and at other times certainly a sheet which would hardly promote the best interests of the county, which its motto pledges to do. The first issue was Jannary 11, 1873, with II. C. Bates as editor. O. B. Boyce was editor for a year or so. April 7, 1877, N. A. Burnham got control of the paper, but as this man was not as successful as he wished to be, he finally withdrew from the Siate.
The "Herald," though published at Guildhall was not printed here until 1>77, that part of the work being done at Lancaster. Mr. Burnham, after running the paper in Guildhall a year or so, and wishing to be in a town where he thought ho could probably command more advertising moved himself, and the paper, to Island Pond Village in Brighton, where it is now printed.
Mr. W. H. Bishop, the present editor and proprietor, is to be congratulated for placing before the county people the nice clean sheet he does ; his editorials are sharp and very able; his news items are always the best and latest ; his local items are nicely arranged and show that he has a select staff of correspondents.
CHAPTER XI.
Ecclesiastical Affairs-Congregationalist Church and Society- Methodist Episcopal Church-Sabbath Schools.
The first settlers of this town, while few and poor. manifested a great desire to sccure for themselves and families such religious privileges as they had left in the various older places from which they had severally emi- grated ; and at an early date, put forth the corresponding endeavors. In accordance with the laws and usages of that day, when they began to act as a regularly organized town, they also took in hand, by authority, the business of not only employing and paying ministers of their per- suasion, but of building a meeting house for their occu- paney, and only those who filed with the town clerk an authentical testimony that they belonged to another seet, and protested against being taxed for the support of this. were legally exempt from such taxation.
In 1788, the town at their annual meeting.
"Voted to raise twenty-five bushels of wheat to hire a preacher, and horse keeping and board."
"24th. Voted Eleazer Rosebrook and Ward Bailey be a committee to hire a preacher."
So it will be seen that as early as 1788, the people of Guildhall commenced to make exertions to procure the preaching of the Gospel in this town.
.July 25, 1789, a warning for a town meeting was post- ed, and in it was the following:
HISTORY OF GUILDHALL. 151
"To see what encouragement the town will give towards settling a minister of the Gospel in conjunction with the towns of Lancaster and Northumberland."
"3d. To appoint a committee to meet and confer with committee- of the other towns respecting the settlement ofa minister."
"4th. To appoint a committee to petition the general assembly to grant the town liberty to join themselves into parish with the towns of Lancaster and Northumberland."
At the meeting to which this warning refers, Ward Bailey, Benoni Cutler and Eleazer Rosebrook were chosen as the committee.
lu varions records we find :
"Voted to give Mr. Bell as a settlement 335 bushels of good merchantable wheat, provided he settles in the town of Guildhall."
.. Voted Mr. Bell 80 bushels of wheat as a salary annu- ally until there are 80 ratable polls at the age of 16 years or npwards in the town where the said Mr. Bell settles, provided he settle in either of the towns of Guildhall, Lancaster or Northumberland, and the said towns will agree to divide the distance of holding meetings of public worship according to each town's pay."
These votes were often repeated, and in many cases the sum of $40. was pledged for like purposes.
It appears that the first preachers were missionaries, and principally from the State of Connecticut, most of them being Congregationalists. The first was a Mr. Bell,
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HISTORY OF GUILDIIALL.
who, as has been shown, was referred to at several meet- ings of the town; he was never permanently located in the town, nor did he form a society. Among other Congre- gationalists were Mr. Ripley, Mr. Nathaniel Waldo, Mr. Caleb Noble, during the earlier years, and later Mr. Nott, Mr. Hart and Mr. Ainsworth, of N. H. Rev. Elijah R. Sabin was a traveling preacher, and formed a band of Methodists as early as 1801. For what length of time each may have labored in town we cannot give.
There has always been a decided majority of the peo- ple of the town in favor of Congregationalism, and of this seet were the first preachers. There has been for many years a large society of Methodists and the church-going people in town are mostly of either one or the other, yet now and then a person will be found whose belief is not in accordance with either, but they are rarely met with.
THE CONGREGATIONAL SOCIETY.
The Congregational Church in Guildhall was the first regularly founded religious body in town, and its organ- ization dates back to 1799. April Ist. of that year through the instrumentality of Rev. Seldon Church, of Northumberland, and Joseph Willard of Lancaster, the society was formed: it consisted of 7 members, 3 males and 4 females: their names were, Benoni Cutler, Joseph Berry, Samuel R. Hall, Elizabeth Hall, Sarah R. Berry, Mercy Howe, and Hananh Amy ; the first clerk being Mr. Hall. November 24, 1803, is the date of the next record in which we find that Samnel R. Hall and Joseph Berry were the first chosen deacons, and we find that n
153
HISTORY OF GUILDHALL.
committee was chosen to assist the deacons in examining candidates for fellowship with the church; their names were, Heman Bassett, Daniel Dana and Win. Cutler.
In the meanti ne 26 names had been added to the church records, and the society was in a very prosperons con- dition, the meetings being carried on by Messrs. Bell and Rip- ley.
In 1865 Mr. Waldo was called by the town OLD CHURCHL. and church to settle, but the call was not accepted, and Sola Pows but 4 joined the year previous. In 1807 Mr. Caleb Noble was called; not accepted.
In 1801 the town made provision for building a church and appointed C'apt. Simon Howe, Wm. Cutler and Z. Perkins, committee for such purpose; also Lemnel Holmes, Wm. Amy and S. R. Hall to draw the plan. The place chosen was the centre lot in town, and situated on the hill ; the spot has ever since been known as Meeting House Hill. The place would now be considered very much out of the way, but then it was central.
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HISTORY OF GUILDHALL.
We find that Lemuel Holmes, Isaac Bundy and Saml. Howe formed a committee to sell pews.
The building of the house was to go to the man who would build it the cheapest. Mr. Nathan Cass bid 82400. and it was struck off to him. He furnished men and materials and in 1805 it was completed.
July 8, 1808, the church by a unauimous vote, gave Rev. Caleb Burge "a call to be installed over us in the Lord." The call was accepted and on the last Wednesday of August following he was installed first pastor of the church and society, sustaining that relation with success for a number of years. February 16th. 1814, he was dis- missed, for want of adequate support, consequent upon the deaths of many, and the removals of many others, also the public calamities resulting from the war with Great Britain. Number of new members while Mr. Burge was with the church 99; 74 uniting in 1910; 41 in one day.
From 1814 to 1822 the records only show occasionally a business meeting.
In 1822-3, Rev. Andrew Rankin preached, and 45 new members were added. Jannary 1823, they extended an invitation to him to settle, but he declined.
From 1823 to 1829, there was no regular preaching and during that period only 5 joined the church.
Rev. James Tisdale was called and September 29, 1830, he was ordained pastor; he labored 3 of the time in Guild- hall and | in Granby ; 28 were added through his preaching.
.
HISTORY OF GUILDHALL. 155
Ile was dismissed May 5th. 1835. The following sum- mer Jonathan Blanchard supplied the desk for a short time, 10 being added to the church.
Next we find Rev. Wm. E. Holmes, filling the pulpit for a year.
October 14, 1837, Francis P. Smith, formerly an attor- ney at law, was invited to become pastor; he removed his family to town and continued preaching, without further action in relation to his settlement until September 1838, when he was ordained pastor ; he continued his labors over 6 years with satisfaction, 67 being added to the membership of the church ; his dismission dates May 1844.
In carlier days when the old meeting house was erected on the hill, though large and remote, it was better filled then most churches in this region at the present time; but at length it was clearly shown that a new locality was de- sired and the house was taken down and removed to the plain near the school house in the middle district: this was about the year 1828. The town assisted in defraying the expense, in consideration of occupying it for town meetings, and for a few years it was the only place of worship on the sabbath.
Some years previous to the removal from the hill, meetings were held at the village, and about the time Mr. Smith came, they were held } the time at that place in the Court House, and the other } at the meeting house, but near the close of his labors-in 1843-the Methodists took advantage of an arrangement to temporarily hold services at the old meeting-house during the summer months, tak-
18
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HISTORY OF GUILDHALL ..
ing possession of the court house, and declined yiel ling thereafter its occupancy any part of the time ; thus it be- came necessary for the Congregationalists to either con- test titles, or abandon the village altogether, or build a new church, and the latter course was adopted.
The next year 1844, a
· Original Shire=
CONGREGATIONALIST CHURCH.
pleted the Rev. Thomas Hall was employed to preach, an I in the course of the ensuing year settled us pastor, ale- copting the call and made arrangements for his installation, but poor health prevented him from filling the desk more than 2 or 3 years. From that time to the summer of 1848 the Methodists occupied the church.
good and commodi- ous house was erect- ed at an expense of only 81200. principally through the efforts of Mr. David E. Dom'- čo1. After the new church was
HISTORY OF GUILDHALL. 157
From Aug. 1848 Rev. Joseph Marsh was pastor for 2 years, after which Mr. Hall returned and preached for nearly a year.
After this we find the Methodists again holding meet- ings in the church, and they continued until March 1858.
While the Congregationalists were in this, as we may say, partially dormant state, the members residing in the south part of the town, wanting to labor with people of the same sect, as themselves, withdrew and attended church at Lancaster, N. II., and in March 1856. most of the members residing in that locality, together with the two deacons, virtually seceded from the Guildhall church and united themselves with the church at Lancaster, N. II.
This secession was not accomplished by rebellion, but peaceably and in accordance with their own interests and good senses. The people thus going from the church and at that particular time, almost struck a fatal blow to the society, and it was years before it recovered.
This state of affairs rather had a tendency to arouse the members thus remaining, and in the early part of 1857 they made a new effort to secure Congregational preach- ing. They raised a subscription-the largest for many years-and endeavored to find a good man to settle, but were unsuccessful. For a few weeks at a time Revs. Mr. Loomis, Jr., Mr. Dustan, Mr. Dye, Mr. Jenkins, Mr. Fellows, Mr. Blauvelt, Mr. Underwood and Mr. Beck- worth favored them. Their labors were not in vain, for 12 were added June 27, 1858, and 7 on June 19, 1859.
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HISTORY OF GUILDHALL.
The Methodists appear again, for in the winter of 1850-60 they held meetings alternately in the church, and it was at this time that Rev. Josiah Morse, M. D., commenced his labors with the society. He was pastor until 1864.
During the years 1862-3 there were no additions to the elinreh, and this has been accounted for, by some, for the reason of the great war of the rebellion which was raging with all its fury during these two years, that the subject of religion did not receive the attention which in other years was devoted to it by those interested in its advance- ment.
Rev. L. H. Blake was pastor in the years 1861-5; during these two years 12 persons were a lmitted to mem- bership, and of that number six are now members, the other six have either removed from town or died.
October 1st. 1864 Wm. D. Rasebrook and Chas. keith were appointed deacons, for the time being.
Rev. James Laird was pastor from December 14, 1:65. until April 18, 1870. During this time 21 persons were admitted to the church; of this number 7 are now mem- bers, 14 having either removed their connection to other churches, or died. Rev. Mr. Laird was installed as pas- tor March 16, 1866. Josiah Morse and Chas Keith elected deacons Aug. 31, 1866. Dr. Morse in place of Wm. D. Rosebrook who declined to serve. Robert Chase was elected deacon May 1, 1868, in place of Josiah Marse, resigned. Deacons Chase and Keith have executed that office from then to the present time. (Jan. 1, 1886.)
In the year 1866 the church and society built a parson-
HISTORY OF GUILDIIALL. 159
age at an expense of some $2,060.
Mr. Theodore P. Pruden, a Theological Student was acting pastor from March 22, 1871, during a part of the year 1871. There were no additions to the church from 1870 to 1876. Alter Mr. Pruden left, the pulpit was not regularly filled until Nov. 1, 1872, when Rev. J. H. Thyng was engaged ns acting pastor for one year. From Nov. 1, 1873 to Aug 20, 1876, the church was without a pastor, but was supplied more or less by different persons among whom were, Rev. Heury Farrar and Rev. Wm. Joslyn, but how long any of them supplied, the record does not state.
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