USA > Vermont > Washington County > The history of Washington county, in the Vermont historical gazetteer: > Part 46
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49 years ago, (1832,) an iron-foundry was established by Alfred Wainwright, which was continued by sundry successors until it came into the possession of Lane, Pitkin & Brock, and is now a part of their works used in the very extensive business of manufacturing saw-mill and other ma- chinery.
The manufacture of mill, factory and other machinery has been prosecuted by Araunah Waterman ; Wooster Sprague, whose works were burned in October, 1834; and by Medad Wright, at West Montpelier, who with his son still con- tinues in the business.
Among the manufacturers of household furniture were Thomas Reed, Sr. ; C. & J.
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Wood; James Howland ; Anson Davis ; Lyman Briggs, Samuel W. Abbott & Co .; Emery & Brown, and Abbott & Emery. This is another business which has been materially changed, from the complete manufacture from the lumber, to simply upholstering and other finish of articles manufactured elsewhere, in which E. N. Scovill is now engaged.
The manufacture of tin-ware, and the sale of stoves, hardware, agricultural im- plements, etc., in connection therewith in several instances, has long been an im- portant business. In this class are to be reckoned Chester W. Houghton, and his son William ; Zenas Wood; E. A. Webb & Co. ; Zenas & Charles Wood ; Andrew A. Sweet; Erastus Hubbard; Dennison Dewey; Braman & Tilden ; E. Scribner, Jr. ; Barrows & Peck ; Bancroft & Spear, and Geo. M. Scribner.
Without allusion to the mechanical trades, such as are common throughout the State, the early history of Montpelier in manufactures may well be concluded by mentioning an extraordinary enterprise for Vermont-the only instance-and that is, boring through 850 feet of solid rock, (ex- cept occasional interstices, ) in an endeavor to find salt water and start the manufacture of salt. The experiment was apparently countenanced by the geological forma- tions in the neighborhood, and about 60 citizens of the town furnished funds for the work, which was prosecuted nearly 10 years and a half, at an expense of $2, 100. The intention was to bore a well to the depth of 1,000 feet, but when 850 feet had been reached, the drill by some accident became fastened so firmly that no avail- able power could start it. But for this ac- cident, the depth designed would have been reached, and doubtless a much lower depth, as men would not have been want- ing to carry on the work for the fun of it. The attempt was certainly creditable for the good intentions and enterprise of those engaged in it, and it did not dam- age their reputation for prudence. They had no very high expectations, and en- couraged none in others, as they might easily have done. They swindled no-
body in the manner of the oil and mining corporations of a later day. They spent their own money, and were respected rather than ridiculed for the biggest bore in Vermont.
The later important manufactures of Montpelier comprise machinery, by Medad Wright & Son, West Montpelier ; saw- mill and other machinery, water-wheels and castings, and also brick, by Lane, Pit- kin & Brock-a very extensive, rapidly growing and prosperous business ; car- riages and sleighs for children, and other business in iron and lumber by the Mont- pelier Manufacturing Company ; and last, lumber in the Pioneer Manufacturing Co's. works, by Edwin Lane.
LIST OF ATTORNEYS.
D. P. THOMPSON'S LIST TO AUGUST, 1860.
Charles Bulkley, Cyrus Ware, Samuel Prentiss, Nicholas Baylies, William Up- ham, Timothy Merrill, J. Y. Vail, Jed- uthan Loomis, James Lynde, Thomas Reed, Azro Loomis, Roswell H. Knapp, H. H. Reed, L. B. Peck, J. P. Miller, D. P. Thompson, O. H. Smith, C. J. Keith, Azel Spalding, S. B. Prentiss, Nicholas Baylies. Jr., Geo. B. Manser, F. F. Merrill, J. T. Marston, Isaac F. Redfield, H. W. Heaton, John H. Prentiss, Charles Reed, Wm. K. Upham, J. A. Vail, Stillman Churchill, R. S. Bouchett, Geo. W. Reed, A. W. Tenney, Charles W. Prentiss, Tim- othy P. Redfield, Luther Newcomb, Joseph A. Prentiss, Stoddard B. Colby, C. W. Willard, Wm. P. Briggs, B. F. Fifield, W. G. Ferrin, Geo. W. Bailey, Jr., C. J. Gleason .
Additions from Aug. 1860 to 1881.
Samuel Wells, Joseph A. Wing, Nelson A. Taylor, C. D. Swasey, Albert Clarke, Rodney Lund, C. D. Harvey, F. V. Ran- dall, Asahel Peck, James S. Peck, Mel- ville E. Smilie, Luther L. Durant, Geo. W. Wing, Arthur Culver, J. O. Livings- ton, Clarence H. Pitkin, C. W. Porter, H. K. Field, H. A. Huse, C. H. Heath, C. S. Pitkin, H. G. Dewing, Hiram Carle- ton, S. C. Shurtleff, Henry Oviatt, John E. Harris, T. R. Gordon, Rush P. Barrett, J. K. Kinney, O. D. Clark, G. B. Clifford, H. W. Kemp, John G. Wing.
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PRACTICING PHYSICIANS TO 1872. D. P. THOMPSON'S LIST TO 186U.
Pierce Spalding, Philip Vincent, Ed- ward Lamb, Stephen Peabody, Jacob P. Vargeson, Sylvester Day, Samuel Pren- tiss, Phineas Woodbury, Nathan B. Spald- ing, Nathaniel C. King, James Spalding, Eleazer Hamblin, Julius Y. Dewey, Ben- jamin Walton, Hart Smith, Seth Field, Azel Holmes, F. W. Adams, Zebulon P. Burnham, Charles Clark, Daniel Corliss, Milo P. Burnham ; Sumner Putnam, East Montpelier, removed to Montpelier ; Thos. C. Taplin homœopathist : J. M. Gregory, dentist ; Ralph Kilbourn, dentist; M. Newton, and Brockway & Hawley, den- tists ; O. P. Forbush, dentist ; Orrin Smith, C. M. Rublee, E. Paine ; G. N. Brigham, homœopathist; C. B. Chandler, W. H. H. Richardson, James Templeton, G. H: Loomis, F. A. McDowell, M. M. Marsh, C. M. Chandler.
Additions from August, 1860 to 1881.
Lucy A. Cooke, clairvoyant ; A. B. Haw- ley, dentist ; Charles E. Davis, dentist ; John M. Comegys, dentist; H. L. Rich- ardson; J. M. Templeron, botanic; A. Denio, eclectic ; R. W. Hill, cancers ; Mrs. L. M. Smith, botanic; D. G. Kemp, Geo. W. Nichols, J. E. Macomber, G. P. Greeley; C. H. Plumley, practical re- former; N. W. & R. G. Gilbert, dentists ; J. B. Woodward ; H. C. Brigham, homœ- opathist ; C. R. Pell, dentist, and succeed- ed by H. G. Williams.
MERCHANTS AND TRADERS.
D. P. THOMPSON'S LIST TO AUGUST, 1860.
1791-Dr. Frye.
1794-Col. Joseph Hutchins.
1796-Col. J. & W. Hutchins.
1799-Hubbard & Cadwell.
1802-W. I. Cadwell ; Col. D. Robbins, cast part of town, Robbins & Freeman.
1803-Hubbard & Wing, Langdon & Forbes.
1807-Timothy & Roger Hubbard, Jas. H. Langdon, Uriah H. Orvis, Dunbar & Bradford.
1808-Chester W. Houghton, Josiah Parks.
1809-John Crosby, drugs, etc.
1810-L. Q. C. Bowles, Walton & Goss, booksellers, etc. ; French & Dodge, shoes. 18II-J. F. Dodge, Langdon & Barnard. 1813-John Spalding.
1814-C. Hubbard & J. Spalding, D. Baldwin & Co., Austin Arms, Emerson & Wilkins, Luther Bugbee, Charles Storey.
1815-Wright & Sibley, books, etc.
1816-E. P. Walton & Geo. S. Walton, books, etc .; French & Harvey, shoes.
1818-Sylvester Larabee ; E. P. Walton, books, etc .; H. Y. Barnes, harness and saddlery.
1821-John Barnard, Langdon & Spald- ing, Chester Hubbard, Barnard & Dutton, W. I. Cadwell & Son.
1822-C. Hubbard & E. P. Jewett, Rog- er Hubbard.
1823-Dutton & Baylies, W. W. Cad- well.
1824-Hubbard & Kimball, T M. Taylor, Warren Swift, Langdon, Spalding & Co., Otis Standish.
1825-Baldwin, Hutchins & Co., Cad- well & Goldsbory, Taylor & Prentiss ; Dodge & Standish, drugs, etc.
1 826-Wiggins & Seeley ; Geo. W. Hill, books, etc.
1827-Luther Cross, Joseph Wiggins, Goss & Wiggins.
1828-Luther Cross & Co., Hubbard, Jewett & Co., Spalding, Storrs & Co., Bay- lies & Hutchins.
1829-N. Harvey, shoes.
1830-Baldwin & Prentiss.
1831-Charles Lyman ; I. S. & G. Town, jewelry, etc .; W. W. Cadwell, Hart & Ri- ker; J. M. & B. H. Snow, harnesses ; E. H. Prentiss, drugs.
1832-W. & M. P. Hutchins.
1833-Emerson, Lamb & Co., Snow, Bancroft & Co., Snow & Bancroft, A. C. Pierce & Co., Silver & Pierce, Standish D. Barnes, G. W. Ware, Baldwin & Scott.
1834-Jewett & Howes, Burbank & Hub- bard, Baylies & Hart, Ebenezer Colburn ; S. B. Flint, saddlery and harness ; Hutch- ins & Wright; Wm. Clark, books, etc.
1835-H. N. Baylies & Co. ; Harvey & Harran, shoes ; John & Charles Spalding, Silver, Pierce & Co., Silas Burbank & Co., Ira Day, Wm. A. Prentiss.
Bhalb corte
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1836-Jewett, Howes & Co., Emerson & Russell, Baylies & Storrs.
1837-Bancroft & Riker, C. & L. L. Lamb, C. Alexander.
1838-Spalding & Foster, Langdon & Wright ; Town & Witherell, jewelry ; John S. Abbott, clocks, etc.
1839-Baylies & Goss ; S. P. Redfield, drugs ; J. T. Marston, E. P. Walton & Sons, books, etc .; Storrs & Langdon.
1840-Charles Spalding, Silver, Lamb & Co. ; Harran & Dodge, boots and shoes.
1841-H. N. Baylies, Jewett & Howes, Baldwin, Scott & Co., Lyman & King, J. H. Ramsdell; Cross, Hyde & Co., bakers.
1842-Cross, Day & Co., Benjamin Day & Co., French & Bancroft, Ellis, Wilder & Co. ; Clark & Collins, drugs.
1843-Silas C. French, boots and shoes. 1844-Augustus Haven, Zenas Wood, stoves and tin; Webb, Bancroft & Co .; J. Booth, hats ; Moses & Rich, No. Mont- pelier ; J. Huntington, East Montpelier.
1845-Z. & C. Wood, stoves and tin ; J. T. Marston, books, etc .; Wm. T. Burn- ham, hats, etc. ; Samuel Abbott, jewelry ; N. C. King, No. Montpelier.
1846-Bancroft & Riker, J. W. Howes, L. & A. A. Cross, Erastus Hubbard.
r847-Harvey King.
1848-Loomis & Camp ; Hyde, Dodge & Co., hardware; E. C. Holmes ; Witherell & Mead, jewelers ; Eastman & Danforth, books, etc .; A. A. Swcet, tin and stoves ; Alfred Scott, hats.
1849-Keith & Barker; S. K. Collins, Redfield & Grannis, drugs ..
1850-Scott & Field, Geo. P. Riker, Ban- croft & Holmes ; Abbott & Emery John Wood, James Howland, cabinet work ; L. M. Wood, R. R. Riker, clothing and tailor- ing.
1851-Hubbard & Blake, stoves.
1852-Peck & Lewis; Ballou & Burn- ham, books, etc .; R. W. Hyde, T. C. Barrows, iron and hardware.
1853-Lyman & King.
1854-Keith & Barker, Ellis & Bancroft, Gustavus Hubbard, Walker & White, Wil- der, Scott & Co .; Smith & Pierce, Dr. B. O. Tyler, drugs; Geo. L. Kinsman, hats ;
N. C. Bacon ; Emery & Brown, crockery and furniture ; Wm. P. Badger, W. W. Cadwell, hats ; Phinney & Mead, jewelers ; S. M. Walton, book-bindery ; C. G. East- man, Ballou & Loveland, books and sta- tionery ; Wm. McCollum.
1855-C. W. Storrs, John S. Barker, H. S. Loomis, Peck & Bailey, Union Store, Fuller & Smith, Jacob Scott; Oliver & Helmer, hardware; French & Sanborn, H. B. Witt, clothing ; Fred E. Smith, Col- lins & Pierce, drugs ; Keith & Peck, leath- er dealers.
1856-W. Corliss, E. Montpelier ; Chas. Sibley, No. Montpelier ; Palmer & Storrs ; Burbank & Langdon, flour ; Hyde & Foster, hardware; A. C. Field, clothing.
1857-Ellis & Hatch, Livingston & Sal- mon ; James G. French, clothing; S. C. Woolson, merchant tailor ; Storrs & Ful- ler, W. I. goods and groceries.
1858-J. P. Dewey ; J. S. Lee, clothing ; L. F. Pierce, drugs ; D. K. Bennett, guns and pistols ; Mercantile Union, I. H. P. Rowell, agent; C. & S. E. Robinson ; Adams Kellogg, E. Dewey, hats and cloth- ing ; Emery & Field, crockery and furni- ture ; Wm. Storrs ; Herrick & Page, shoes ; A. A. Mead, jewelry ; T. C. Phinney, jew- elry, changed to book-store.
1859-E. C. Lewis ; S. S. Boyce, books, etc ; S. Abbott, jewelry ; Field & Watson, M. P. Courser, A. L. Carlton ; J. R. Lang- don, flour ; J. C. Emery, crockery and fur- niture ; E. Gunnison, shoes; Bailey & Brothers, Palmer & Stetson, Wooster Sprague.
1860-Eli Marsh, Wm. B. Burbank, J. W. Ellis & Co .; Jacob Smith, clothing ; Deming & Brooks.
Additions from Aug. 1860.
1860-George Watson ; Fisher & Strat- ton, silver-platers, etc. ; Braman & Tilden ; Dennison Dewey, stoves, glass and tin- ware.
1861-Geo. W. Scott & Co., Ellis & Foster, Calvin Robinson, S. E. Robinson ; M. C. Parkinson, watches, etc. ; Chas. H. Cross, bakery and confectionery ; J. V. Babcock & Co., furniture ; D. T. Knapp, Roger Bulkley, harnesses, etc.
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1862-C. W. Storrs ; Geo. W. Wilder, books, etc. ; E. Bickford, J. C. Page, boots and shoes ; L. F. Pierce & Co., drugs.
1863-N. P. Brooks, dry goods and hardware; Wm. F. McClure, groceries ; N. K. Brown, drugs ; Barnes & Johnson, J. Lease, harnesses, etc.
1864-Nichols & French, clothing ; J. A. Taft & Co., George Jacobs, Daniel Scribner, flour and groceries : Kellogg & Adams, hats and clothing ; J. P. Dewey, flour, grain and nails ; H. & C. Fullerton, boots and shoes; Wood, Bixby & Co., druggists ; S. Freeman, jewelry, etc. ; Wm. F. Braman, hardware. etc. ; Charles Cross & Son, bakers and confectioners ; E. Scrib- ner, Jr., stoves and tin-ware ; Dennis Lane, saw-mill machinery.
1865-L. W. Smith; Jacob Smith & Son, furniture ; A. D. Arms & Co., D. Neveux, W. I. goods; E. R. Skinner, staple and fancy goods, wholesale ; Blanch- ard, Peck and Johonnott, leather ; Wm. F. Braman & Co., hardware; John W. Clark, wagons and sleighs.
1866-Martin & Simonds ; Geo. Nich- ols, ready-made clothing ; Carleton & Co., WV. I. goods; Mark French, preserved fruits ; J. E. Smith & Co., stationery and fancy goods ; J. Bodell, boots and shoes ; Bixby & Co., druggists ; Redfield & Crooks, drugs ; Lane, Pitkin & Brock, iron-founders and machinists ; E. N. Scovell, furniture ; Henry Cobb, marble monuments, etc.
1867-New York Dry Goods Store ; Emery & Carleton, crockery and carpet- ings ; H. E. Fifield & Co., flour and W. I. goods ; L. L. Tanner, boots and shoes ; W. F. Braman, hardware, etc .; J. V. Babcock, drugs, etc .; Ira S. Town, watches and jewelry ; l'eck & Johonnott, leather ; C. Spear, gas and water fixtures.
1868-B. Benjamin & Co .; W. E. Ad- ams, hats and clothing ; Denison Taft & Son, flour, etc. ; B. M. Chaffee, boots and shoes ; Lamb & Peck, hardware, etc, ; Putnam & Co., N. K. Brown & Co., drugs ; Flanders & Kinson, platers, etc.
1869-A. C. Dewey & Co., flour, lime, plaster, etc .; J. C. Emery, crockery, car- petings, etc. ; Philbrick Brothers, W. I. goods, etc. ; Barrows & Peck, hardware,
etc .; Babcock & Cutler, drugs, etc. ; W. A. Boutelle & Wife, dry goods and milli- nery ; Blanchard, Keith & Peck, leather, etc. ; A. L. Carleton, dry goods ; Hinckley & Best : C. F. Fullerton, boots and shoes ; S. S. Towner, millinery and fancy goods ; Farwell Brothers, clothing; T. H. Corry & Co., W. I. goods; J. W. Page, teas, coffee, spices and tobacco, wholesale ; T.C. Phinney, books, stationery, fancy goods and homœopathic medicines; Hiram At- kins, staple stationery ; Medad Wright & Son; Iumber and machinery, West Mont- pelier ; W. H. Barnes, harnesses, etc. ; Cobb & Cummins, marble monuments ; Stimson & Co., patent door springs.
1870-Calvin Robinson & Co. ; Bailey & Park, Storrs & Jones, W. I. goods, etc. ; Carlos Bancroft & Son, W. I. goods, iron, etc. ; W. L. Washburn & Co., T. J. Hunt, W. F. Waterman & Co., W. I. goods and groceries ; Spear & Bancroft, tin-ware, stoves, etc. ; Woodward & Blakely, drug- gists ; D. McDonald, furniture, carpetings, etc. ; E. Hatch, boots and shoes ; E. Spin- ney, fresh and salt fish, etc. ; G. P. Foster, coal and wood ; D. Taft and Son, lumber ; Kimball & Hewett, monuments, etc .; J. W. Paine, A. Allen, cigars.
1871-C. Blakely, drugs, etc. ; Scovill & Lyon, furniture, etc. ; Jacobs Brothers, flour and W. I. goods; C. E. Winch & Co., W. I. goods and groceries ; Thomas McGee, sewing-machines ; Fisher, Colton & Kinson, platers, etc. ; J. O'Grady, boots and shoes ; N. C. Bacon, auction store ; J. Bruce, harnesses and carriage trim- mings ; Soper & Lord, cloths and merchant tailors ; T. A. Dewing, boots and shoes.
1872-George Jacobs, flour, W. I. goods, etc. ; Smith Brothers, coal ; L. W. Jones, provisions, W. I. goods, etc .; Geo. M. Scribner, stoves and tin-ware; F. C. Gil- man, wagons and sleighs ; B. T. Soper & Co., cloths and merchant tailors; A. G. Stone, watches and jewelry; Crosby & Taplin, dry goods ; Redfield & Bascom, drugs, etc.
1873-Montpelier Manufacturing Com- pany, children's carriages, etc. ; Hatch & Farnsworth, boots and shoes ; C. E. Hos- ford, clothing, etc. ; Crosby & Taplin, dry
2
Carlos Bancroft
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goods ; Babcock & Cutler, drugs, etc. ; A. Luce & Son, groceries; V. Konsalik, watches, etc.
1874-J. D. Clogston, tin-ware ; Putnam & Marvin, groceries, crockery and glass.
1875-E. P. Towner, boots and shoes : Fuller & Howe, dry goods; Mrs. A. L. Carlton, dry goods ; Bascom & Dewey, Wilson & Co., drugs, etc. ; C. H. Heaton, groceries.
1876-A. & A. Johonnott, leather ; N. P. Brooks & Son, house-finishing tools and fixtures, glass, sash, blinds, doors, etc. ; E. H. Towne, merchant tailor; C. P. Pitkin, coal and wood; H. C. Webster, dry goods ; Lyon & Daley, furniture, etc. ; A. J. Braley, groceries ; C. H. Keene, watches and jewelry.
1877-Fred Blanchard, tin-ware, etc .; C. W. Selinas, harnesses, etc. ; Henry Cobb, marble monuments ; Kimball & Carter and H. C. Cross, granite monu- ments ; S. C. & H. H. Woolson, merchant tailors; Chase & Edgcombe, boots and shoes; A. H. Bailey, Smith Brothers, dry goods ; Orange Fifield, flour, gro- ceries, etc. ; Washburn & Co., millinery.
1878-Sabin Manufacturing Co., door- springs ; Miss M. L. Page, millinery ; Henry Lowe & Son, teas and fine gro- ceries.
1879-C. W. Skinner, watches, jewelry, etc. ; A. J. Howe, dry goods.
1880-Sumner Kimball, granite monu- ments; C. H. Shipman, C. E. Stow, boots and shoes; Blanchard Brothers, flour, iron and hardware; W. W. Park, flour and groceries ; E. W. Bailey & Co., flour and feed ; Montpelier Carriage Co., children's carriages.
1881-C. A. Best, millinery and dry goods ; D. W. Temple, dry goods : J. A. Murray, W. I. goods and groceries ; H. E. Slayton, books and stationery; E. R. Meader, millinery and sewing-machines ; Geo. E. Wheeler, marble monuments.
When not otherwise indicated, the per- sons named were dealers in goods of the usual variety to be found in country stores until about 1851, and after that date in dry goods. The list is necessarily imper- fect previous to 1860, and since that it
might have been swelled to double its length by the insertion of the names of per- sons engaged in business not included gen- erally in the preceding list. Notably is a long line of dealers in family groceries and provisions, several with restaurants con- nected, and some doing a large business in fruits. The list is made from the Vermont Registers, and hence the true dates should be a year behind those given as a general rule.
BANKS AND INSURANCE COMPANIES.
The Bank of Montpelier was chartered in 1825, and organized in 1826, with a capital of $50,000. The first president was Hon. Elijah Paine, of Williamstown, and his successors under the charter and re-charters were James H. Langdon, Tim- othy Hubbard, John Spalding, Thomas Reed, Jr., Rawsel R. Keith, E. P. Jewett, and George C. Shepard. This bank was re-chartered in 1840, with a capital of $75,000, and still again in 1853, with a capital of $100,000. The cashiers were Thomas Reed, Jr., Charles R. Cleaves, George Howes, Geo. B. Reed and Chas. A. Reed. This bank was succeded in 1865 by the Montpelier National Bank, organized under the national banking law. with a capital of $300,000, whose officers from its organization have been James R. Langdon, president, George C. Shepard, vice-president, and Chas. A. Reed, cash- ier, until 1881, when E. D. Blackwell succeded Mr. Reed. The capital is now, 1881, $360,000.
The Vermont Bank was chartered in 1848, and organized in 1849, with a cap- ital of $100,000. The presidents were Hezekiah H. Reed, George W. Collamer, Homer W. Heaton, E. H. Prentiss and Roderick Richardson ; and its cashier, John A. Page. This bank continued until the First National Bank of Montpelier was or- ganized in 1865, under the national bank- ing law, the president of which has been John A. Page; and the cashiers, R. J. Richardson, L. F. Richasdson, J. C. Tap- lin and J. C. Houghton.
The State Bank was organized in 1858, under the general banking law of Vermont,
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with a capital of $100,000, held mainly by stockholders in the old bank of Montpelier. Its officers were James R. Langdon, pres- ident, and George B. Reed, cashier. Bus- iness was continued but a few years.
To the banks in Montpelier one compli- ment is due-they always have been per- fectly sound and reliable, without any exception.
Latest organized is the Montpelier Sav- ings Bank and Trust Company. chartered in 1870, organized in May, 1871, and com- menced business Aug. 1, 1871. Its offi- cers are Homer W. Heaton, president ; Whitman G. Ferrin, treasurer, succeeded by A. W. Ferrin. July 1, 1880, there were 1685 depositors, deposits $346,284.33, and surplus $31,060.11.
The Vermont Mutual Fire Insurance Company
was incorporated in 1827, organized in March, 1828, and is now in the 54th year of successful and beneficent operation. The first President was Hon. Chapin Keith of Barre, and his successors were Hon. Israel P. Dana of Danville, and Hon. John Spalding of Montpelier-the terms of these three covering the first 13 years of the company. In 1841, Hon. Daniel Baldwin of Montpelier consented to take the office, and he was re-elected at every annual elec- tion until 1874,-31 years. He was suc- ceeded by James T. Thurston and Hon. W. H. H. Bingham. Hon. Joshua Y. Vail was the first permanent Secretary, and held the office until 1850, who was succeeded by Hon. Charles Dewey, who served until 1871, when Mr. James T. Sa- bin was elected, who is the present Secre- tary. The treasurers until 1842 were Hon. George Worthington, Hon. Oramel H. Smith, Calvin Jay Keith, Esq., Hon. Homer W. Heaton and Harry Vail. In 1842, James T. Thurston was appointed and he was succeeded by O. J. Vail and H. N. Taplin, Jr. In this Company prop- erty for insurance is divided into five class- es, with rates of insurance varying in pro- portion to the hazrrd of each class, and the theory of the company is to make the property insured in each class bear the
losses of its own. Theoretically, therefore, this Company has five distinct mutual in- surance companies under one management ; and distinct accounts of the five different classes have been kept for many years, to enable the directors to assign to each the proper rates of insurance. The theory of the company is probably due to abundant caution in respect to the classes which are occasionally exposed to sweeping fires, from which isolated property is always ex- empt. It is an exception which proves the wisdom of the rule. The whole number of policies issued from March 31, 1828, to Aug. 1, 1881, was 219, 841 : of this num- ber 190,428 have expired or been canceled, leaving in force, at the last date, 29,413. The whole amount insured has been $237,- 333,504, of which the amount canceled or expired is $200,430,697-leaving the amount insured Aug. 1, 1881, $36,902,807. The whole amount of premium notes tak- en is $21,456.983.09, of which the sum of $18,810,474.93 has expired or been cancel- ed, leaving in force, as a fund for the pay- ment of losses and expenses, Aug. 1, 1881, $2,646,508.16. The whole cash receipts of the Company have amounted to $3,653,- 940.38, and the whole amount paid for loss- es and expenses, (including a new and permanent office,) $3,643,289.08-leaving a balance in the treasury, Aug. 1, 1881, of $10,651.30. Chargeable upon this surplus are unadjusted claims for losses estimated at $4,383.30. The total amount of assess- ments made in 54 years is 1784 per cent., or, on the average, 3 and I-3 per cent. per annum of the premium notes. This result indicates that the premium notes have on the average constituted a fund, legally collectable if necessary, more than five times greater than the size of the loss- es and expenses, and so proves the safety, against any possible contingency, of insur- ance in institutions managed on the rnles of this company.
The Farmers' Mutual Fire Insurance Company
was incorporated and organized in No- vember, 1849, its first president being Hon. Azel Spalding, then of Montpelier. His successors have been Hon. William
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llowes, of Montpelier, Hon. George W. Bailey, of Middlesex, Hon. William L. Sowles, of Swanton, and P. P. Pitkin, of Montpelier, the present incumbent. Hon. Joseph Poland, of Montpelier, has been the secretary since the organization. Sam- uel Wells was treasurer until his death, and was succeeded by Geo. W. Leslie. As its name implies, the purpose of this Company is to insure only farmers' prop- erty, and other property of like kind as to hazard-in theory corresponding with the first or least hazardous class of the Ver- mont Mutual before described. The main difference between the two companies is, that the Vermont Mutual first ascertains its losses and expenses from month to month, assesses the premium notes to pay them, and collects (annually) these assess- ments ; while the Farmers' Company re- quires payment by the insured in advance, of a sum estimated to be sufficient to meet the losses and expenses during the life of the policy, which in that Company is 5 years. As ample security, however, to the insured against loss, each member of the Farmers' Company, (as in the other Company,) is required to give a premium note, which is assessable or legally collect- able in case of necessity.
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