The Newtown bee. (Newtown, Conn.) 1877-current, 1905-10-06
NEWTOWN SAVINGS
BANK
Fifty Years Old.
A GROWING AND PROS
Porous INSTlTU-
TON.
Deposits Now Reach the
Splendid Total of
$842,137.43.
MOST GRATIFYING REPORT
IN HISTORY OF BANK.
Dividend Just Declared Was the
One Hundredth Paid.
MOST GRATIFYING REPORT
IN HISTORY OF BANK.
Dividend Just Declared Was the
One Hundredth Paid.

bank had "been established for the
purpose Of affOrding secure invest
ment to persons who have not the IA
cilities of safely putting their income
otherwise to use.'
That this principle has been main.
tanned is borne out by the steady
growth and financial strength of this
excellent institution.
FIFTY YEARS AGO
the favored spot in which we now
dwell was the same as it is to-day, in
this one respect; it possessed men who
believed in uprightness and moral in
tegrity, and they also believed that it
was good thing to plant in this neigh
borhood an institution that should
same time, afford to the men and
women of humble means an opportu-
nifty to lay by, little by little, such
sums as they could spare from their
necessary expenses, as might, in the
future, be of help to them in prOcur-
ing home or enabling them to pro-
vide for. themselves, or those depend
ing upon them, some substantial sup
port, when stress of circumstances,
that might Overtake them, should de-
mand.
The early incorporatOrs of the New
town Savings bank were men of Ster-
ling worth and, whether they builded
better than they knew or not, they
builded we'll, and the principles they
laid down in the original bylaws, and
in the first books they issued to de-
pOsitors, show wisdom and foresight
edneSS.
A hasty review of the Bank 8 history
will be interesting at this juncture.
Pursuant to notice given by Henry
Beers Glover, committee appointed by
the Legislature, the first meeting to
organize the Newtown Savings bank
was held at the Office of David B.
Beers in Newtown, where DR. Gale now
resides, on the 14th day of July, 1856.
After hearing the charter read the
meeting adjourned to August 25, 1856,
to meet at the same place. At this
meeting the bylaws proposed by Mr.
Glover were adopted and officers elect
ed as follows:
President, Henry Beers.
Vice Presidents, David II. Johnson,
Edward Starr and Samuel B. Peck.
Trustees, Henry Beers, Henry Beers
Glover, Edward Starr, Theophilus
Nichols, Henry Sanford, Samuel Cur
tbs, S. P. Barnum, Henry Baldwin, D.
Ds DOOA01 OO1OHO AOOOA3 NAOAkOO = Au-
son, Moses Parsons, James B. Blakes-
lee, Charles F. Blakeslee, Alva B.
Beecher, Samuel B. Peck, William
Beard, Zerah Fairman, David H. John
son and Walter Clarke. OF this num-
ber only one is now living, Charles F.
Blakeslee, of Franklin, Pa.
The bank commenced business Sep
tember Is, 1855, in the Office of Henry
Beers Glover. The first depositors
that day were Mr. Glover, Charles 81.
Peck and Hannah D. f. Peck.
THE FIRST ANNUAL REPORT,
October l, 1856, showed deposits OF
SIT, ,165. .43. This report was as follows:
ASSETS.
Amount loaned on Real Estate in \,
this state, 4,2540C
Amount loaned on Real Estate in
Amount loaned on Personal Security. 3,sO6 &c
Amount loaned Town of.Newtown, 100 0l
Amount of Bonds and Stocks at cost. 3,S798s
oa.RR Rs5 s. sSst; sssa, " ' 1's53sl ~ g
s17,so1 3:
Amount D. due Dspositors; sa ~ sl7,1ssss.ss s 4;
s17,2ol. &
November Is, 1858, Theophilus
Nichols was elected president for the
ensuing year. November 5, 1859
Charles @. Warner was elected secre
tary and treasurer. October 20, 1860
Henry Beers was again elected preSi
dent and Henry Beers Glover secretary
and treasurer. On this day it was vot
ed "that the president, vice-preside nj
and secretary be a committee to pro-
fn f0 hi hnp Of MT
| ing $1O0." At this time the bank haC
e6, 1925. 06 loaned on real estate in othel
states, $500 Of this amount being
loaned on lots in Milwaukee at 10 pei
cent. On March Is, 1865, David H
Johnson was unanimously elected pres
ident in place of Henry Beers de
ceased
The bank in proportion to it's de
posits was large holder of Govern
ment securities in this year, NOR
than one-half Of its deposits being ii
United States bonds.
At a special meeting held March 80
1870, Henry T. Nichols was electet
secretary and treasurer to fill the va
cancy caused by the death of Henr,
Beers Glover. In this year the banl
Glover to the home of Mr. Nichols, nov
the Annex to the Newtown Inn.
November 5, 1870, Ezra Morgan wa
elected president. On October 81
1871, Simeon B. Peck was chosen pres
ident. On October %, 1883, he havin
declined a reelection, Phtlo Clark
was elected president.
At a special meeting held August 6
1887, Charles H. NOrthrOp was electe'
secretary and treasurer to succee
Henry T. Nichols, deceased.
October %, 1897, John B. Peck wa
elected president in place of Phil
Clarke, deceased. On October Is, 1895
he was succeeded by Aaron Sanford
and Arthur T. Nettleton was electe
secretary and treasurer. February q
1902, David G. Peck was elected pre-
ident, filling the vacancy caused
the death of Mr. Sanford.
The whole amount of deposits at th
close of business, Saturday, Septembe
80, was $842, 137. .43, an increase for tn
year of 81, ,876.56. The number Of ne
accounts being 104, while the SUI
! Of 10000 has hoon oHdo6 tn tho ho n r