The Portland daily press., 1869-09-20

One member of the present Board, Nathan
Cummings, ESQ.,, has held the Office thirty
nine years, having been first elected in the
year 1880. We doubt if another instance Of
so long service in bank can be found in the
State.
AT the first meeting of the Directors, Ash
ur Ware was elected President and John P.
fore the close of the year and John Chute
was elected to fill the vacancy, and continued
to perform the duties of the office till October
1854 period of twenty-eight years, when
in consequence Of the impaired state of his
health, he resigned and K. p Gerrish (who
had been employed in the bank since July
1S46) was elected his successor, and has held
the Office till now.
Ashur Ware served as President till Octo-
tober, 1926, one year and half, when he de-
clined a reelection, and Eliphalet Greedy
lwho had been a director from the beginning)
was elected President. Mr.. Greedy was an
nually re elected to the time of his death,
which occurred Aug. 8, 1858, thirty four years
In October Of the same year Samuel e. Spring
was elected President (having been director
for three years. and has held the Office till the
present time, eleven years. There have been
therefore, but three Presidents, and three
cashiers for the forty i've years of the banks
existence.
Early steps were taken for the purchase of
building for the use of the Bank. On the
18th of May, 1924, the Directors voted to pur-
chase store on Middle street, corner of a
passage way leading to a hotel called the
"Casco House." which was accordingly pur-
chased, and rooms for the bank fitted up in
the second story, entrance 10 which was by a
flight steps on the outside of the building.
The building was about 15x30 feet! These
rooms were used by the bank till 1851, when
the directors voted to REBUILD" and Messrs.
E. Greedy, N. Cummings and Charles Jones
were appointed committee to attend to the
same While the bank was building the bust
ness was conducted in room over the Mer-
chants Bank. The new building was of free
stone front, three stories high and about thir-
ty feet square, and was then thought to be
quite an imposing structure. This building
was destroyed in the great fire of 1863, but
the vault which was of brick and iron came
out with its contents uninjured. After the
fire the bank conducted its business at the
store of ]. B. Carroll corner of Fore street
and Central Wharf until its present banking
house was completed
The bank is now located in the rear of Cas-
co Bank Block on Middle street. 1.-THE block
occupying the site of the old bank building.)
1t is of brick AZ by 60 feet The main room
is forty feet square, twenty feet high to the
plate with open roof, showing the beams and
raiters, at the apex of which twenty-eight
feet from the floor is a circular skyght six
feet in diameter. For convenience of ar
rangement for light and for freedom from
dust and noise of the street. this room is be-
lleVed to be equal to any bank room in New
England.
During the past quarter of a century, tho
bank has divided among its stockholders over
81 ,100O00-an average of over s per cent per
annum. The capital stock has from time 70
time been increased until there is no larger
bank in the State-its capital now being
100000 with surplus or reserved fund o.
over 100000, with more than five hundred
stockholders.
1t became a National Association" under
the National Currency Act" May /, 1865
The Directors hesitated some time about max
ing the changes, as the rules of the Depart
ment at first required all State Banks to drol
their distinctive names, and become simply
numerical Banks, ii. e., LIST Or I'd Nationa
Bank of - To give up the name of /
bank which had been SO long and SO favor
ably known as the "Casco" was not to b.
thought of, but wheu the change in the rult
was made and the State banks were permit
ted to retain their old names, the Directors
were then ready to adopt the new system.