USA > Vermont > Orange County > Newbury > History of Newbury, Vermont, from the discovery of the Coos country to present time > Part 35
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HIGHWAYS AND RAILROADS.
There are many miles of such disused roads in this town, and the precise location of some is not now remembered. Somewhere about 1840, the road along Wells river, from the paper mill to the four corners was made. Before that time all travel went up an old road from the paper mill to the "Ben Chamberlin place."
The road through Cow meadow gave the town considerable trouble, as appears from many recorded actions in town meeting. At one time the river washed away a section of it and the selectmen laid out a new road a little further from the bank of the river, but the abutting landowners refused to accept the damages awarded by the town for the land taken to set it further back, erecting gates across the road, which were not all removed till after 1805. This road formerly kept close along the river-bank, all the way from the Ox-bow to the foot of the Frye Bayley hill. The north end of it was altered to run west of the railroad, when the latter was built, in 1847.
In 1830, after several years of agitation, and determined opposition, a road was laid out around the base of Ingalls hill. Tappan Stevens was the leader of the agitation for this road, and David Johnson, who then owned the Ingalls farm, was the no less resolute leader of the opposition. A great deal of extravagant language was used, both by those who favored, and those who opposed the undertaking, and several appeals to the county court were had. But it was finally built, and was of great help to the heavy teaming of those days.
Formerly the highway tax was worked out, and only unsatisfactory results, in most cases, came from the labor. After heavy winter storms the roads were broken out, all the men and oxen in a neighborhood turning out to the task. With the use of road machines, snow rollers, and a more efficient oversight, the highways have steadily improved.
The first iron bridge in town was built at Wells River in 1880. There are now three over Wells river, and three over Hall's brook.
The railroad was opened from Boston to Concord in 1842, and it was determined by the ruling powers in New Hampshire at that time, that the road should not be extended beyond that point, and the legislature of that year passed a law, by a vote of 136 to 84, that no railroad should be constructed until the corporation should first pay to the owner of lands which they proposed to cross, whatever he should exact for the privilege. This put a stop to railroad building in that state for several years, and the attempt to secure a charter for a road from Franklin to Orford failed. But in a few years the agitation for railroads in the north part of the state became so formidable as to threaten to overturn the party in power, when charters were secured for the Northern railroad from
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HISTORY OF NEWBURY, VERMONT.
Concord to the mouth of White River, and for the Boston, Concord and Montreal, from Concord to some point on the Connecticut river in Haverhill.
The Connecticut and Passumpsic Rivers railroad was first chartered November 10, 1835, but no work was ever done under this charter, which became void. The second charter was secured October 31, 1843. The road was to commence at some point on the Massachusetts line, near the Connecticut river, run up that river and the Passumpsic, to some point on the Canada line, in Newport or Derby.
In 1845, the right was secured to divide the route at the mouth of White river, the northerly portion to be called the "Connecticut and Passumpsic Rivers Railroad." The road was organized at Wells River, January 15, 1846, with Erastus Fairbanks as president. The survey was commenced in April following, and ground was broken on the 7th of September. Miller Fox was the chief engineer, and brought his family to this town. A steam shovel was brought up and set to work on William U. Bailey's farm, and multitudes flocked to see the strange machine. The ledge at Ingalls hill was considered the most difficult part of the work between White River Junction and Wells River. The men employed at that time in railroad construction were mostly Irishmen, and a horde of men, women and children of that nationality invaded the town, where their brogue and actions excited aversion and fear. Many of their cabins stood along the foot of the hill south of where Mr. Learned now lives, then called the "Frye Bayley hill."
Several years before, the town had, at great expense, built a road around the base of Ingalls hill, close to the river, which may still be traced, in places, and which was of great help to the heavy travel which, in those days, went along the river road.
There was not, however, room enough around the base of the ledge for both railroad and highway, and the railroad was obliged to purchase of the town the road which it had constructed around the foot of the hill.
A short time after work began on the ledge at that place, a riot broke out among the Irishmen, which ended in a tragedy. There was a bitter feud between the men who came from the county of Connaught, in Ireland, and those who came from the county of Cork. The latter, who were called the Corkonians, had driven the former, who were known as the Fardowners, from their work on the Northern railroad. The Connaught men came up to work on the Passumpsic railroad, and when the Northern road was completed, the Cork men came to work on this road, and there was soon trouble between the two gangs. Most of the men employed in the great cut at Ingalls hill were Cork men, and in the night of the 21st of September, 1847, a party of the Connaught men went in a body to the shanties of the Cork men, threatening their lives,
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and attempting to break in upon them. But the Cork men had firearms, and kept their assailants at bay, who went away, threatening to return in a week with re-enforcements. The next day, which was Monday, Michael Kelley, who was in charge of the work at Ingalls hill secured warrants against several of the rioters, and, with Leander Quint as deputy sheriff, arrested three of them, took them to Newbury and returned after others. On entering a shanty at the south end of Ingalls hill Kelley pointed out Patrick Gallagher, who was arrested, when a gang of six or eight men assaulted Kelley and Quint. Kelley retreated backward, was shot through the neck and instantly killed. Quint escaped. Kelley's body was stripped of his watch and money. The rioters escaped to the woods. The affair produced great excitement, the country was roused, the roads and bridges were watched, and some of the men were taken.
At a court held at Wells River, Michael McGinty was committed to jail without bail and three others in default of it. Some of the rioters were sent to the state prison, but no one suffered death, as it could not be proved by whom the fatal shot was fired.
The railroad was opened to Wells River, November 6, 1848, the terminus being where the freight depot now is. Work began on the railroad above that point December 17, 1849, and trains began to run to McIndoes October 7, 1850. The road was completed to St. Johnsbury November 23, 1850, and regular trains began to run from that place November 28th. Meanwhile the Boston, Concord and Montreal railroad was slowly making its way up the Pemigewasset valley, and the building of that road was regarded with hostility by the projectors of the Northern and Passumpsic roads, for both were after the business of the north country. Late in the fall of 1849, the road was opened to Plymouth, and May 25, 1851, the cars came to Warren. Cutting through the great ledge at Warren Summit took a year and a half, and cost $150,000. The road was opened to East Haverhill in the fall of 1852, and in Mav of the next year to Woodsville.
The building of the bridge across the Connecticut at Wells River was the occasion of a railroad war. Of this Judge Leslie, who probably knows more about that affair than any one else living, may be allowed to speak in his own words :
"I was attorney for over thirty years for the Boston, Concord, and Montreal Railroad, and the White Mountains Railroad, and had legal charge of their affairs hereabouts during that time. The facts were these: There was a strife between the New Hampshire roads and the Connecticut and Passumpsic railroad, as to the control of the White Mountain travel, and as the roads approached this place, there was a big war between them. The C. & P. went to work to prevent the N. H. roads from coming into Vt., and as a part of the program, laid out the spur road from the present passenger depot at Wells River to the prospective bridge across Connecticut river intending thereby to reach the White Mountains R. R., not caring to have any connection with the B. C. & M. R. R. But the men who were at the head of the latter road were in good friendship with the White Mountain people, but could not
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reach and extend its road into Vt. without a charter granted to it from the legislature of Vermont, and this the Passumpsic people would not permit, and the N. H. roads were able to prevent the Vt. road to obtain a right by charter to build a bridge into N. H., and as attorney for the N. H. roads I advised that land be bought in Vt. and build the abutment of the bridge upon that land in Vt. and so was given the power to buy eight acres of land for that purpose.
Then the Passumpsic people took another course, and undertook by way of an injunction, to prevent the putting and building of a bridge abutment upon the land so purchased, but failing in this, tried to confiscate this land to the state, claiming that the B., C. & M. R. R., being a foreign corporation, could not hold land in it, but the court held that it could, and decided the matter in favor of the B., C. & M. R. R. Then, to stop further litigation, I advised the B., C. & M. people to make a trade with the Wells River toll bridge Co., whose bridge was below the village of Wells River, and whose charter gave it the exclusive right to build a bridge within a certain distance, by which trade the public travel could be taken through the railroad bridge, which was done, and the toll bridge was taken down, which ended the war.
When the B., C. & M. reached Woodsville there was a great celebration of the event, with speeches by Asa M. Dickey and Mr. Quincy, the president of the road, and the first train was saluted by the firing of cannon and cheers from the assembled multitude. This ended the great railroad fight."
There was much done, however, which Mr. Leslie does not mention, and at one time one company employed a small army of men in constructing the "dump," west of the bridge, while the other had a crew, equally large, busily engaged in digging it away. There was much rivalry between the roads for a time, and in the summer of 1853 the Boston, Concord and Montreal railroad ran a stage from Newbury to Haverhill depot, and carried passengers from Newbury to Concord, and below, for less than was charged by the Passumpsic railroad, directly from Newbury. The stage thus mentioned, was driven by Mr. Thomas Johnson, still living in this town.
A charter was obtained in 1849, for a railroad from Montpelier to the Connecticut river in Newbury, called the "Montpelier and Connecticut River Railroad Co." There was a plan to have the Boston, Concord and Montreal railroad cross the river at South Newbury, and pass up the valley of Hall's brook, to South Ryegate, but nothing was ever done under that charter. The present Montpelier and Wells River railroad was chartered in 1867; work was begun upon it in the summer of 1871, and it was completed to Montpelier in November, 1873.
The first telegraph line was erected in 1851, and called the "Vt. and Canada Telegraph Co." The wire, a single one, passed along beside the river road, and had no connection with the railroad; the idea of employing the telegraph in the operating of trains was not thought of then. The first telegraph office at Newbury village was in the building which is now the Congregational parsonage. Jerry N. George was the first operator at Newbury, or one of the first. The office was soon after removed to a tailor's shop in the second story of Keyes's store. It was not till about 1861 that the office was removed to the depot, and the line carried along beside the railroad. A single wire sufficed for all the business up to about 1870. The telegraph linc from Plymouth
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to Wells River was constructed in November, 1862. Mr. Farwell was the first operator at Wells River.
Railroading was new business fifty years ago, and some of the early regulations for the running of trains seem curious now. In 1851, trainmen were instructed not to run after dark in bad weather. The depots at South Newbury and Newbury are the ones which were built when the railroad was. The first depot at Wells River was below Stair hill, and the second was south of the parsonage. The present station was built in 1888. When Mr. Allison, the agent there, entered the office in 1862, all the work was done by him, with the aid of a boy. It now requires nine men to carry on the work at that important railroad centre.
The distance along the railroad from Bradford line to Ryegate line, is 9 miles, 2371 feet. The amount of land damages was $16,034.19. Freight rates were very high at first-$1.50.per 100 lbs. on first class freight to Boston.
The mail train south has always passed Newbury at about the same time for fifty years, but reached Boston at seven, instead of four, as now. Except for the first two or three years, this was the only passenger train. The accommodation train was put on for a few months in 1865, and made permanent in 1871. The road hardly paid its running expenses for some years, and shares sold at one time as low as five dollars. But, under the energetic management of Hon. Henry Keyes of Newbury, it was brought into a paying condition, and is the only road in the state which has ever paid a dividend to its stockholders.
The Connecticut and Passumpsic Rivers railroad was leased to the Boston and Lowell railroad Jan 1, 1887, and on the 27th of October in the same year, the latter began to be operated by the Boston and Maine railroad. The Boston, Concord and Montreal railroad was almost bankrupt for awhile, but under the management of Mr. J. A. Dodge, it became a good property. Up to 1870 a single passenger train, which had only a baggage car and a passenger car, accommodated all the travel, above Plymouth, except in summer. Up to 1870, during most of the year, one engine did all the work, above Woodsville. The "air line" trains, between Boston and Montreal, were put on in 1874.
CHAPTER XLI.
BANKS AND MONEY MATTERS.
EARLY BANKS IN NEW HAMPSHIRE .- THE COOS BANK .- EARLY VERMONT BANKS .- THE WELLS RIVER BANK .- DIRECTORS .- NATIONAL BANK OF NEWBURY .- SAVINGS BANK .- HARD TIMES .- COUNTERFEITING .- THE BRISTOL BILL AFFAIR .- IMPRISONMENT FOR DEBT .- GLAZIER WHEELER AGAIN.
W E have seen that there were no banks in the colonies before the revolutionary war, and it was not until near the close of the struggle that the first private bank in the country, the Bank of North America, was, in 1781, established at Phila- delphia. In 1784, the first bank in New England, the Massa- chusetts, was established at Boston.
In New Hampshire, the New Hampshire bank at Portsmouth, was established in 1793, and no more were put in operation till ten years later, when another bank was chartered for Portsmouth, and banks were established at Exeter, Keene, and Haverhill. The opening of the Coos bank at Haverhill at that early day is significant, not only of the enterprise of the business men of Grafton County, but, also, of the growing wealth and financial importance of the Connecticut valley. At that time, and for many years after, there was no other bank within one hundred miles of Newbury, and a vast amount of business from the west side of the river was transacted there. The persons named in the act of incorporation of the Coös bank were: John Montgomery, Moses P. Payson, Peter Carleton, Moor Russell, Daniel Smith, Nathaniel Barlow and Timothy Dix, Jr.
George Woodward, a lawyer, who built and occupied the fine old mansion at the south end of the common at Haverhill Corner, was the first cashier, and the bank vault, a structure which would make a modern burglar laugh, may still be seen in the Merrill building. For about twenty-five years, that bank, and its
BANKS AND MONEY MATTERS. 321
successor, the Grafton bank, was the only bank in Grafton county. The old Coos bank failed, disastrously, after about twenty years. The fact that in 1820 its bills in circulation amounted to nearly $175,000, while the capital stock actually paid in was only $97,700, had something to do with its failure. Many Newbury people were embarassed by the catastrophe, but the winding-up of its affairs was intrusted to Mr. John Nelson, a lawyer of ability and integrity, who discharged his trust with great credit to himself, and to the satisfaction of those concerned. Mr. Nelson built and occupied the house where Mr. P. W. Kimball now lives, on the east side of the common at the Corner. The Grafton bank was kept in the brick house south of the brick block, where the vault still remains.
In Vermont, prior to the year 1817, in which year the first charter for a bank was granted by the legislature, a large majority of the people were opposed to the establishment of banks, or the issue of paper money. The experiment of a state bank, with branches in the larger towns, proved a failure, and came to an end, and this fact tended to heighten the popular distrust of similar institutions. In 1803, charters for banks at Windsor and Burlington were granted by the House of Representatives, but the governor and council refused to concur, on the ground that the issues of paper money would drive specie out of the country ; would introduce an extensive and dangerous credit; would facilitate hazardous and unjustifiable enterprises; would tempt debtors to borrow money to discharge their debts instead of paying them; would tend to centralize the wealth of the state in the hands of a few; would make it hard for a poor man to borrow money except upon exorbitant terms; and because the governor and council considered that government was not designed to open new fields of speculation, or protect the property of individuals. These were the opinions of Gov. Isaac Tichenor and his advisers.
Other bank charters met a similar fate during several years, and it was not till 1818, that the first charters were granted for private banks in Vermont, which were at Burlington and Windsor. Banks were chartered at Brattleboro in 1821; Rutland in 1824; Montpelier, Danville and St. Albans, in 1825; Vergennes in 1826; Chelsea and Bennington in 1827; Woodstock, Middlebury and Bellows Falls in 1831; at Manchester, Newbury, Irasburgh and Guildhall in 1832.
The act incorporating a bank in Newbury was passed November 7, 1832, and William Atkinson, Peter Burbank and Timothy Morse of Newbury, William Barron and Asa Low of Bradford, Jonathan Jenness and James Petrie of Topsham, Daniel Cook of Corinth and Jesse Stoddard of Fairlee, were named in the act, and of these, Messrs. Atkinson, Morse, Petrie, Stoddard, Barron and Burbank were commissioners to receive subscriptions. Mr. Morse was clerk.
21
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HISTORY OF NEWBURY, VERMONT.
The amount of stock was $100,000, the number of shares to be subscribed for was limited to four to each person, and ten per cent was required to be paid with the subscription. The books were opened February 5, 1833, at the Spring Hotel, at Newbury, and on the 15th of the same month, the required number of 2000 shares having been subscribed, they were closed. The shares were subscribed for by 1032 individuals, but when the time arrived for the first meeting of the stockholders it was found that the shares had been absorbed by 85 persons. The first meeting of the stockholders was held at the Spring Hotel, March 8, 1833, when William Barron, James Petrie, Timothy Morse, Samuel Hutchins, Ebenezer Brewer, Epaphas B. Chase, and Peter Burbank, were elected directors. The number of shares voted upon was 1949.
To the great disappointment of Newbury village it was found that the majority of votes was in favor of Wells River as the place of location. This is said to have been brought about by the adroit management of Peter Burbank. William Barron and Timothy Morse declining to serve, Jesse Stoddard and Erastus Fairbanks were chosen directors in their places and Peter Burbank, president. On May 22, 1833, Stephen Haight, bank commissioner, authorized the bank to begin business, one-half of the stock being paid in, with Benjamin F. Moore, cashier. Until the completion of the bank building, its business was done in the south front room of the house in which the Leslie family long lived, now owned by Mrs. Graves, an adjoining closet serving as a vault.
On June 6, 1834, the first dividend, of five per cent was declared. The land on which the bank stands was bought of Samuel Hutchins, and the older part of the present building was erected in 1834. January 13, 1835, Timothy Shedd and Ephraim Chamberlin, Jr., were chosen directors, in place of Fairbanks and Chase, and Zabina Newell was elected cashier, and Ebenezer Brewer was elected president. In January, 1836, Levi P. Parks was chosen a director in place of Stoddard, and in February, William Wheeler in place of Burbank, deceased. The pressure of the panic of 1837, forced the bank to suspend its dividend for the semi-annual distribution in June. In 1838, Alexander Gilchrist succeeded as director, Dr. Petrie, who had lately died, and in September, a fourth assessment of $10 on each share was made. In 1839, A. B. W. Tenney became a director, in place of Mr. Brewer, and Samuel Hutchins was elected president. In 1841, Mr. Newell became a director and president, and Oscar C. Hale was chosen cashier, his salary at first being $300 which was gradually increased to $800 by 1846. In the former year, the bank paid a dividend for the first time since the panic of 1837. During those years much real estate must have been taken, as it appears many times in votes to sell. In 1843, Colonel Tenney was elected president, and Josiah Hale a director. In 1846, Mr. Gilchrist, who had deceased, was succeeded by Robert Harvey.
OSCAR C. HALE.
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BANKS AND MONEY MATTERS.
In 1842, the bank voted to destroy, for the first time, by burning, its mutilated notes to the amount of $48,287.50, and unused fractional blanks to the amount of $3,615.57. Before that time the bank had issued fractional currency, a practice afterwards discontinued. In 1845, Messrs. Tenney and Hutchins were authorized to employ an agent to attend the legislature, and procure a renewal of the charter.
October 28, 1847, it was voted to accept the provisions of the new charter, and an assessment of $5 per share was ordered. The board of directors stood for 1848: A. B. W. Tenney president, Samuel Hutchins, Robert Harvey, Timothy Shedd, E. B. Chase, Asa Low, and Charles Hale, the latter becoming director in that year. April 13, Abel Underwood was elected a director to succeed Mr. Low, and on April 27 Ephraim Chamberlin succeeded Mr. Chase. August 31 an assessment of $7.50 on a share was voted, and on December 14, the capital was reduced to $75,000. In 1850, Mr. Chamberlin was succeeded by Nathaniel Bailey, who gave place the next year to Oscar C. Hale. September 27, 1849, a committee consisting of Samuel Hutchins, Robert Harvey, A. B. W. Tenney, and Charles Hale, destroyed by burning $234,800 in mutilated bills. In 1851, Robert Harvey became president, and in 1853, William R. Shedd succeeded his father as director. In 1856, $228,700 in redeemed bills was destroyed, and in 1857, $14,300. In 1858, O. C. Hale resigned the position of cashier, and a set of resolutions was adopted by the directors, in appreciation of his long and faithful service, and $100 was appropriated with which to purchase a silver pitcher to be suitably inscribed, and presented to him. Mr. George Leslie succeeded Mr. Hale, and Isaac N. Hall was chosen a director. In 1859, Samuel Hutchins and Charles Hale were succeeded by R. M. Bill and George Leslie. In 1860, D. W. Choate was elected in place of Mr. Bill. January 14, 1862, it was voted to sell $3,500 of Rutland and Washington railroad stock. This was sold to Jay Gould, and the bank has the correspondence about them in Mr. Gould's handwriting. It was one of his first purchases.
At the opening of the civil war, July 1, 1861, the assets and liabilities of the bank were $373,324.78, the amount of outstanding notes being $267,300, the capital at the time being $75,000. Mr. Underwood became president in 1861, and the same board of directors managed the affairs of the bank during the war. It became a national bank June 24, 1865. In 1866, John Farr became a director in Mr. Leslie's room. In 1867, Mr. Choate was succeeded by John W. Batchelder. In the next year Mr. Leslie was again placed on the board, in the place of Mr. Batchelder. In 1870 and 1871, William R. Shedd was president, and was succeeded in 1872 by A. B. W. Tenney, who died September 13, 1873, having served the bank as director thirty-three years. Franklin Deming succeeded Colonel Tenney as president, and Mr. Harvey gave place, as.
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