Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1866-02-01
Tho Bank Of Rusland.

Bank of Rutland was passed by the
General Assembly In November, 1924
the bank went into operation in May
following, and has continued up to the
present time one OF the successful insti-
tutions OF the State. It will soon close
Its history as State, Ia become "a Ma
tional Bank, and we have been oppor.
timely furnished with tie following
statements from its book 8, exhibiting a
financial record highly creditable to its
managers, and Cne probably not sur
passed by th'.s of any other banking In
stitution IN the State. 1t will be read
with 'Aterest by many of our subscrio-
ers
The first board OF directors was the
following: Robt. Temple, Rutland, Ma
thaniel Fullerton, Chester, Joseph Burr,
Manchester, Moses Strong, Rutland, and
Francis Slason, West Rutland. But two
OF these gentlemen are now living, viz:
Nathaniel Fullerton, at the present time
President of the Bank Of Bellows Falls,
and Francis Sason, who is now direc-
tor, having received forty.two success
sive elections.
At the first organization in 1926, Rob-
ert Temple was elected President, aud
William Page Cashier. Mr.. Temple held
the Office until his decease, in the fall Of
1884.
Mr.. Page continued Cashier until the
fall Of l848, when he resigned, because,
as he said, Increasing inhrmities ad-
monish me that the time has come when
l should relinquish my office as Cash
ier."
At the Stockholders meeting in 1929,
Robert Temple, Nathaniel Fullerton,
Moses Strong, Francis Slason, Geo. I.
Hodges, Ira Stewart of Middlebury, and
John Kellogg OF Benson, were elected
directors, this being the first change in
the board. In 1888, the board was re.
duced to five members by the retirement
of Messrs. Fullerton and Stewart, the
Banks at Middlebury and Bellows Falls
having been organized about that time.
At meeting Of the board elected in
1885, consisting Of Moses Strong, Geo.
7. Hodges, Francis Slason, James Por-
ter and John Meacham, Mr.. Hodges was
elected President, and held the Office I'M
til his decease in 1860.
The board elected In 1886 continued
the same until 1889, when Luther Dan
iels took the place Of Mr.. Strong. No
other changes occurred in the board un-
til 1S46, when Chester Granger and Rob-
inson Hall were added to it. In 1849,
Mr.. Meachsm having deceased, Benz, F.
Langdon was elected to fill the vacancy.
In 1866, DR.. Porter having deceased,
Chas. L. Williams was elected to sue
coed him.
In November, 1858, John b. Page, who
had been a clerk in the bank since 1912,
was elected Cashier, which office he
held until 1851, when he was elected
President, to succeed Mr.. Hodges, de-
ceased, and now holds that Office.
In January, 1856 the Bank was re-
organized its capital increased, and the
following gentlemen were elected direc-
tors: Geo. 7. Hodges, Francis Slason,
Luther Daniels, Chas. l.. Williams, John
B. Page, H. Henry Baxter, william Gill
more, Benz. F. Langdon, anc Edwin
Martindale.
In 1869, Mr.. Daniels having resigned
to take charge Of the Rutland Savings
Bank, Jacob Edgerton was elected to
fill the vacancy. In 1851, William Y.
Ripley and Frederick Chaffee were elect
ted TO fill the vacancies caused by the
death Of Messrs. Hodges and Williams.
In 1862, Mr.. Baxter having retired from
the board, Henry c. Gleason was elected
in his place, In the summer Of 1882
another vacancy occurred by the death
Of Mr.. 1.augdon, which was filled by the
election Of Z. A, Cbapiu, Mr., Chaplin
having removed from the State at the
election in 1885, Loyal G. Kellogg was
elected by the stockholders to fill the va
caucy. #'#. u"
when Mr.. Page was elected President
in 1861, John B. Reynolds succeeded
him as Cashier, and he'd the office until
1854, when the present Cashier, Sidney
". Rowell, succeeded Mr. Reynolds,
The FIRST dividend was made in July,
1926, and up to the present time there
has been paid to stockholders eighty
three setni-annuai and extra dividends,
amounting in the aggregate to the sum
OF s569,500. There never has been an
occasion when the regular dividend has
been omitted; the average Is nearly
eleven per cent. on the capital invested,
and the Bank has incurred some eonsid-
cradle losses-in the aggregate more
than $50, 600; g297 ,0O0-more than one