Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1885-05-22
THE VERMONT NATIONAL BANK


FEW INTERFERING FACTS OF LOCAL HISTORY
RECALLED.
The renewal OF the charter Of the Vermont Ma
tional bank, giving renewed lease of life to the old
est financial institution, with continuous existence
In Vermont makes glance at the history Of the hank
Of interest. Examination OF the records shows that
its charter granted by the legislature Nov g. 1871
Ninety days given In which TO secure suhscrip-
ton 10 the capital stock which PLACED at SO0 90
divided into 1000 shares OF $50 each Jonathan Hunt
IT,, Epaphroditus seymour, Jonas Mann, Samuel
Clark aud ARENAS Robbins were named commission.
TO receive the stock subscriptions. The first meet
Ing OF the stock holders Was held the hrst day
March, 1874, sat the inn of John X. Blake" when VIM
Hall, jr, Jonas Mann, Samuel Clark Jonathan Hunt,
J and kpaphrodtus seymour we're elected directors,
aud the day the directors organized by elect
ing Jonathan Hunt, jr, president. AZ this meeting
the hrs nstament of Is per cent OF the capital stGck
was ordered to be paid. April Epaph. eymOur was
appointed cashier the folio wing day the direc
tors voted that banking house be erected land
owned by +, aoodhue, few feet north Of Wiiston a
Hunts store provided the land lie given to the corpO
ration and put IN good condition to erect building
on General Jonas Mann was named committee to
see that the building was erected ''aH eenVen-
lent THIS building which until few years ago &C.
copied the site between thu Capp house aud the Con-
gregatonal church, was bnih during the season Of
1924 but the exact date Of It's completion and Occupa
ton by the bank ia not given. The business OF the
bank was done In this building until about the year
1858, when 1t removed 10 the room on the
hrst floor Of the old Revere House building, after
ward used as the Revere House once. Tue banks
hrst dividend, OF one dollar per share, declared
sept. H. 1923, and for some time the regular semi
animal dividend 81 per share. 1t 10 evident how
ever that there proht in the banking business in
those early days for In January, 1928 $4,000 OF IN
divided profits carried TO the dividend account
10 1885, also, division Of profits ordered, aud
"hrst instAlment" Of s. a share directed TO be
paid Mr.. Hunt held the ONCE Of president until his
death, aud was succeeded In 1884 by John HobroOk.
In 1887 Mr.. HOlbrook declined q reelection, aud was
succeeded by Mr.. Seymour who held the once until
his death In jane, 1854. AZ this period, 1881, new
charter was granted the bank aud the capital stock
increased TO $3.50 900. The directors at this time
were Samuel Clark, John r. Blake, Charles Chaplin,
Henry Smith aud Epaph. Seymour. In July, la4 =
HoTatio & Noyes became cashier aud served anti Oc-
tober, 1850, when Philip Wells succeeded to that ONCE
The vote insructing the directors TO take the
sary steps toward converting the institution into
national bank was passed March a. l685 aud the
ter OF the Vermont National hank under the natOnA
banking laws was granted the l2th OF May follow
ing. The directors at the time Of the conversion
Samuel Root, w. II. Rockwell, Farley Starr, Wells
0oodhue and Hampden Cults. Samuel Root the
president, having been elected the death OF Mt.
Seymour In 1854 Philip Wells continued a. cashier
until January 1851 when he resigned. His brother,
Frank Wells was elected his successor, and served
one year, when, Ia January, 1864 Geo. s. DoWey he
present cashier elected. on the death OF Sam al
Root 10 1862 Wells Goodhue succeeded 10 the presi-
dency, serving I'LL 1874, when he resigned aud was
succeeded by Lafayette Clark, who held the oice till
1873 when he declined reelection and was succeed
ed by VIM. z. Cune, who since that time has attended
with unyaryng diligence aud efficiency to the duties
OF the ONCE.
From this brief retrospect II lie readily seen that
from the first the bank has commanded the interest
aud services OF men who have been among the best