Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1882-05-16

The RAILROAD Ew BUILDINGS
PHINNEY's DRY GOODS EMPORIUM -
Cart. FRI.
The town Of Norway has grown very
rapidly during the past decade, and has
stepped nom the third to the second place,
both in population and in value. This in,
crease has been largely in the village,
though We learn that the number Of farm
ers has also increased somewhat. This Is
the natural result of encouraging village
growth. A market is made near home for
farm produce, particularly butter, milk,
eggs and poultry; transportation expenses
are saved. and farming is thus made more
profitable. A good we'll stocked farm,
near a thriving village, sfiords a comforta-
be, independent livelihood to the owner,
and at minimum OF labor aud worry. No
man IS so free from care, so sure OF good
living, and so able TO command his own
time As such farmer.
The large tannery OF the Messrs. Horne,
and the shoe shop, employ many hands,
and little homes are springiug up with sur
prisiug rspidity, TO accommodate these
workmen aud those who are engaged in
the numerous smaller enterprises which
add TO the prosperity aud growth of Nor
way. II one fails to pass through the town
for fortnight, he is sure to note one or
two new houses In the course of erection
az his second visit.
Ii has always been the boast OF Norway
people, that they all pull for Norway"
If new business enterprise is talked OF II
has general good wishes, and such aid as
it calls for, from those who are able to as
SiSt. This spirit has been supplemented
by two mouied institutions, which have
stood ready 10 foster profitable enter
prises by furnishing capital TO those who
carry them on. The most important aid
has been rendered by
NORWAY NATIONAL BANK.
This institution was organized April 18th,
lS72, with capital OF 100000. There were
over one hundred original stockholders,
mostly residents Of this section, though
some were Boston and Auburn parties.
This is one of the bes: illustrations of the
falsity Of the charges made against banks
as being monopolies, controlled by men OF
great wealth. and detrimental 10 the peo-
pie. for with 500, coo 90 and 100 share
holders, the average amount of stock own
cd by each would DC only 81, 600 90. The first
Board Of Directors was as follows:
sumner Burnham. President,
Freeland Howe,
G. q. Phelps,
!. 4. DenisOn,
VIM. Frost, 2ud.
II. NJ. Besrce,
~ c. Denisou.
Mr.. II. -. Little OF Auburn was elected As
one OF the tlrSt Board OF Directors but as
he failed 10 qualify, Mr.. A. c. Denison was
elected in his stead. Mr.. II. NJ. Bearce is
the only member OF the original Board who
has been continuously in service. He is
now President OF the Bank, having been
recently elected to All the vacancy caused
by the death Of Nr. Frost.
The drst Cashier OF the Bank was A. Z.
DeuisOn, ESD, who served until January,
$50, when be retired and has since been
in successful practice of his profession at
Boston. Mr.. II. d. Smith, the present
Cashier, has filed the position since Mr..
Deuison retired. Mr.. Smith is very
faithful Cashier, AMI confines himself so
closely to business that his health suffers
in consequence. II. is courteous 70 Gus
toners, and carries out fully the instruc-
lions and plans of tle Directors. During
his administration he has seen the Bank 5
/ business increase greatly aud its influence
cofreSpondingly. During the first year OF
I is existence the deposits ranged from SIS
/ 900 90 10 S20 .OOOOO, To-day they average
/ So, 900 90, as is she wn by weekly state
meut book, kept for he purpose Of ascer-
tanning the amount of deposits. Two
causes have led 10 this marked Increase
business has been quite profitable for q few
years past. and acct mulated capital has
/ been put into the bank. This is the main
cause. But as the bank has established
its reputation as a safe repository, many
persons who at first declined TO make de
posts. preferring the old-ashioned plan Of
secretiug money in stockings and under
/ bed clothes have come TO see its utility and
/ 20 avail themselves OF its secure vaults and
system Of checks. Hon. G. +. Humphrey
OF Bangor, is L. :. Bank Examiner fol
Maine. and makes q thorough examination
/ OF all the National Il Inks 10 see that the
deposits, circulation and standing are cor
| rectly reported. The Norway National
Bank has made fair profit for the stock
holders. but has no. been one of the most
| profitable of its class. The Directors have
been very conservative, preferring to do
/ safe. rather than large business. They
have taken few risks. and hence have In
CURED but few losses.
The Railroad from South Paris to Nor
way, has been a good thing for the latter
town. All westward bound passengers
who formerly stopped 1T South Paris, are
now carried to NorwaY, which has beer
made the terminus OF tie Bridgton, Water
ford and Lowell stage routes. There is
~