The Portland daily press., 1881-11-07
CUMBERLAND NATIONAL BANK
BUILDING.
The Old Time Home of the Money-Lend-
ers.

The recent alteration in the Cumberland Ma
tional Bank building calls before me the ap-
pearance and occupants of the building which
occupied this site fifty-eight years ago. The
Maine Fire and Marine Insurance Company
was incorporated by the General Court OF Mas
sachusetts in the year 1900, to continue twenty
years. Soon after its organization the company
erected on this spot an elegant building Tor It's
office, and on each side adjoining two stores
This block of three stories in height was called
the Insurance buildings These stores were
the highest studded and most spacious that
had then been erected in town, yet they had
small front windows. which fastened with
falling iron bar inside when the heavy swing
shutters were shut.
In 1910 DR.. Dwight, President of Yale Col
lege, visited Boston, and thus writes OF the
block on India wharf, yet standing: splen-
did collection of stones, built and arranged
with singular elegance, and far exceeding
everything of the kind on this side of the At
lantic" From my knowledge of the two
blocks should say that the Insurance build
ings, before one store was altered, was the Tin
est block
The block was of brick with stone caps and
sills The center building was highest, and
was finished with pediment rose windows
and futed wooden pilasters painted white.
In the front Of the second story was large Or
namental central window with side lights and
pilasters. The lower story had wide door
opening to large vestible, leading to the
spacious business office which had circular rear
walls, (the originals are yet standing) On
A. IL
was an Office room-at the time I first saw
them the southeasterly one was occupied by
Joseph Pope, lawyer, who was Town and
City Clerk from 1920 until his death in about
1910. He was the wag of the street, and held
frequent morning leyees in front of his office,
which were sure to be well attended.
But to go back to the Insurance Company.
Their charter expired in 1870. Their last
board of officers was Woodbury. Storer, Pres
dent; Directors, Isaac Ilsley, Arthur McLel-
Ian, Robert Ilsley, James Deering and Joseph
Swift, who was also Secretary Their seal
was circle enclosing a ship under sail on the
right and on the left three story building on
fire, with tho name of the company round the
circle. The company sold the whole block
their office to the Cumberland Bank, which
had occupied it some time before. This bank
was chartered in 1872, Albert Newhall, Presi-
dent, and closed in 1881, when the Maine Bank
took its place, with the same officers, and
closed up in about 1888.
Although the front and roof were destroyed
in the fire of 1866, the original stone vaults, |
three stories in height, are yet in place. The
four sides, top and bottom are each of one
sba nf cr,l;f Tbav arao 90 1ar0Q q 9 q
small sleeping room. The vault of the lower |
banking room was opened by Daniel Manly in |
1918 with false keys, and robbed of 100000, |
most of which was recovered, and Manly |
served eleven years in Charlestown prison for |
the offence In 1928 the second story of this |
temple of the money changers was occupied by |
the Custom House, Isaac Ilsley, Collector. In |
1925 the Bank of the United States established |
a branch in Portland with Joshua Wingate. |
Jr., President. The Custom House had been |
removed to the corner of Fore and Plum |
streets, and the "Branch Bank" took the |
rooms. 1t was at this time that the vault in |
the second story was built. The Bank of Cum
berland, chartered in 1888, next occupied these
rosms, and finally purchased the building.
They leased the lower story to Lowell & Sem
ter. The junior partner, Mayor Senter, has
occupied it until within a few weeks-the |
Cumberland National, the present owner, re-
quiring it for its own business. We see that
an insurance company and four distinct banks
have exhausted their chartered time on this |
spot and the fifth bank now occupies it,
OF the four stores in the two wings of the
block at the time of sale, the two westerly
were purchased by Isaac Ilsley-Bailey &
Noyes now occupy the site. The most south
erly store was in 1922 purchased by Isaac Stur-
tevant for about $1,000, He thought the stories
were too high and remodeled it, making an ad-
ditional story, which spoiled the symmetry Of
the block At my first knowledge Oliver Ger
rish, watch maker, occupied the lower story,
and the Eastern Argus those above, Seba
Smith. editor.
The store adjoining the bank south was sold |
to Seth Clark, merchant tailor. He pursued
his business here until his retirement in 1881 |
In this store the bankers of Exchange street
met for their preliminary sessions and to re-
viewthe business of the previous day. was
the store boy, with very sharp eyes and ears
and could tell whose note had laid over. but |
was often cautioned by these money lenders to
keep what heard to myself, and by doing SO
soon gained their confidence. The second and |
third stories of this store were occupied by |
Day & Fraser, printer of the Independent
Statesman Abiiah w. Thayer, editor.
OF all the owners occupants or those en-
ployed in the insurance building in 1928 the |
venerable Oliver Gerrish and the writer alone |
are known to be alive. w G.
Windham, Nov. B.