Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-09-30


gusta Savings Bank to the incorpo-
rators OF that institution and q few in
vited guests. in honor of its semi-cen-
tennial. was most suggestive occa-
sion to one in any degree acquainted
with the history OF banking In Angus
ia. This institution is one Of the old
est and soundest banks in the State, and
the completion Of half century OF
prosperous existence may well be an
occasion Of congratulations on the
part of all our citizens. The Augusta
Savings Bank ranks as the third larg-
est in Maine. two in Portland having
more deposits, and Is likewise the third
in the State in point Of age. the two
which are older being situated respec-
lively in Saco and Gardiner. Not one
of the half hundred savings banks in
the State is sounder or more pros
porous, and in all it's successful career
it was never in safer or ADLER hands
than today. The historical address OF
President Manley, published in full in
another column, and the several toasts,
make interesting and inspiring reading
to loyal Augusta people, proud as we
all are of our banking institutions.
From the earliest years Augusta has
been kpown as one Of the strongest
banking centers of New England. Its
banks, OF whatever kind or name, have
been as sound as the granite of Its,
hills, and the financial storms which
have swept over the country have
never swayed or shattered them. No
bank in the history of the city has ever
failed, and those which have closed no
their business and surrendered their
charters have only done so after meet
ing every obligation. This uniform sue
cess and integrity is due to the fact that
the strongest and best men in Angus
ta's history have been associated with
it's banking institutions. In the early
part of the century when its first
banks were founded as well as through
all the years down to the present time,
the names of our bank presidents.
cashiers, directors and trustees have
been the names most closely identified
with the progress and welfare Of the
city, and among the most prominent
names of the State. The leading men
of Augusta in professional lines. in
business and in industrial pursuits
have stood behind it's banks and given
their best efforts to their upbuilding
and success. So the banks have had the
stable, noble character of their found
ers and supporters, and have made the
name Of Augusta more widely honoreN
respected
ole little incident may be mentioned
as illustrating the uniform character
of our banks. When the old State
banks made way for the national
banks, in the sixties, there were many
which closed up their business without
redeeming their notes which We're in
circulation. But the State bank in this
city deposited with it's successor. the
First National bank, a sum of money
sufficient to redeem all its bills in cir
culation. And after a third of GEN.
fury part of this fund is still in the
hands Of the bank, as many of those old
% I~,,7 hox rod
for redemption. This is why the peo-
pie trust the banks of Augusta, and
why the banking world rates them
among the highest.
AS in the past so in the present Au-
gusta has every reason to be proud
Of the half dozen banking institutions
that are such important factors in its
business life. They have been often
tried and never found wanting. The
men at their heads are the solid men
of the city, nearly all of them also
prominent in other lines, and all of
them worthy Of our trust and our re-
spect. The Augusta Savings. Bank,
which now passes the half century
mark, is the oldest Of our existing
banks, though several are the direct
successors of others which did business
before them. 1t was most fitting that
the suspicious event should be ceie-
brrated as 1t was. Long years and de-
cades yet Of successful 1t land its sister
banks of Augusta. May our bankers
in the future be as wise and as upright
as those; Of the past and present have
been. *
Thousands are now rushing back