The Montgomery advertiser., 1903-11-08
Story of the Life of Andrew Dexter
By Colonel Michael L. Woods.

Andrew Dexter, the founder of the city of Montgomery, was born in Brookfield, Mass. March 2S. 1779. He died In Mobile, victim of yellow fever. Nov. 3. 1887. His ancestors were wealthy and distinguished people. His father. Andrew Dexter, was born in Boston about 1750. His mother, Mary Newton the daughter of Simon Newton, of Newport, R. l.. was born in that city. March q. 1757. His father and mother were married in Woodstock. Conn.,, May 5, ITS. His father was q most successful merchant. His mother was one of the most beautiful women of that day and 1t is said the son resem- bled her in a striking manner.
 His grandfather. Samuel Dexter, of Boston, was leading man and compa- triot of the Adamses and Hancocks. His maternal grand father, Simon Newton, was a man of large wealth. He was born at Bristol. R. l., June 25. 1720. He mar ried Mary Sigourney. Jan. IT, TAO She was born at Newport. R. l.. July 19. 1723. Simon Newton died Jan. 20. 1908. His wife died May 13. 1S10. They lived together in the marriage state 6S years. wanting one week only.
 MT. Dexter's father had but one broth CT, Samuel Dexter. who was born May IA. 1761 and graduated at Harvard in 17S1 He was d member of Congress 1885. and senator 1799-1SO0. During the administra- tion of John Adams he was Secretary of War. 1S00 and Secretary of the Treasury. 1901, and for a short time also mad charge of the Department of State. In 1872 he changed his party relations and became a leader on the other side, and was a candidate for Governor in 1915 and 1S16 in opposition to Governor Brooks. He was offered the mission to Spain by MT. Madison He died in Athens, N. Y, May 8, 1916.
 MT. Dexter. the founder of Montgom- cry, graduated at Brown University with the highest honors of the institution in 179G He studied law with his uncle Samuel Dexter. and for a short time re- sided with him at Washington City, as his private secretary. while member of the cabinet. After admission to the bar in 1900, he practiced law several years in Boston, and for some time was a part ner of his uncle. He soon attained an enviable standing at the bar, but becom- ing successful in two or three enterprises foreign to his practice, his imagination was so captivated by these new pursuits, that he soon ceased to pay much atten- ton to the law.
 In 1897 he made a purchase, on favora- ble terms, of a highly valuable lot of land in the city of Boston. By subsequent pur- chases he added to this. all the adjoining property, so as to embrace an entire square. Here. after tearing down the old buildings, he erected the magnificent Boston Exchange. covering nearly the whole ground and rising to the height of seven stories. This structure, the design of which. was entirely his own, was ad- mitted to be the most tasteful and ele- gant in the United States. The cost for building and furnishing was $500, 900. ThA vNla nP he htYfI1 n1 were alike unique. It was designed as a kind of a city in city. or city in miniature, which should concentrate in one focus, the news. commerce, law, l literature and fashion of the metropolis of New England, combining under one roof the city, municipal and postofices law offices. brokers offices. merchants exchange and trading rooms. city assem- bly, rooms. and one of the best hotels in the Union. It was finished in 1909. and was the pride of the city until entirely consumed by fire in 1926.
 MT. Dexter was at the same time pres ident of the Boston Bank. and had un- der his control a very large number of the internal country banks. The Boston Bank redeemed the bills of these coun- | try banks on presentation, which ar- engagement gave greater uniformity to the currency. MT. Dexter, however, extend ed his credit entirely too far, in the cree. tion of the exchange, the cost of which | altogether exceeded his expectations, con. sldering that the only hope of success rested upon the completion of the build. | ing which would render the capital em. parked in it available. and enable hin to sustain himself. he strained every | nerve to effect this object, and he al ways contended that he would have beer
 successful in this. had it not been fol an interested combination of brokers who, by concerted efforts, obtained con | trol of such an overwhelming amount o the country currency redeemable at tn, Boston Bank as to force the latter tC suspend payment. The immediate conse quence of this was the failure of MT Dexter for the immense sum of q, 200 900 exceeding in extent, 1t is believed any failure which had occurred at that tim, | QSO9) in the United States
 Shortly before his failure, in 1898, MT