Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1905-01-06
BRATTLEB0RO LOCAL NEWS
THE PEOPLES BANK
Changes and Improvements Have
Been Completed
proved constructlon-8ankn Rooms
Enlaraed. RemodeIed and Reftted.

proved Notwithstanding Rooms
Enlarged, Remodeled and Refitted.
The changes and improvements which
have been in progress I'm the Peoples
National bank since last spring have
been completed and the bank begins the
new year with rooms and equipment
which are new throughout. The es-
sential changes have consisted in the
construction of new vault, the en-
largement of the main banking room,
the construction of a directors room
on the lower or basement floor formerly
rented for a dry goods store. and the
conversion of the old directors room in
the rear of the banking room into a con-
venient private office. The new vault
was built directly in the rear of the old
one, and the main banking room is en-
larged by the amount of space formerly
occupied by the old vault.
The first work, which began toward the
end of March was to put i'm the founda-
ton of the new vault, the contract for
which was i'm the hands of Pellet Broth
ers of Worcester. with j. G. Pellet in
personal charge. The new vault arrived
the last of June and it required about
six weeks to complete it's erection. 1t
was built by the Remington & Sherman
company of New York and Philadelphia
and is in every respect of the most mod
ern steel construction. The contract
glar proof, mob and dynamite proof,
safe deposit and security vault of the
most approved type" The vault is built
of three layers of steel, each one inch
thick, and these are surrounded with 20
inches of masonry with air spaces. The
outer door Of the vault is 10Ih inches
thick, composed of successive plates of
specially prepared steel With the bolt
frame the door is 17h inches thick The
inner door is five inches thick, with bolt
work making "A total thickness OF 1919
inches. The outer door. when locked. is
secured by % steel bolts, three inches in
diameter and the inner door by % bolts
two and one-half inches in diameter
Each door has two combination locks,
and the outer door has in addition a quad
ripple movement Yale time lock. which.
II desired. may be set to run 70 hours
This time lock releases the bolts at the
hour for which it is set. but the bolts
cannot be withdrawn except by the OPP
alton of the combination locks.
The interior size of the vault is 10 by
~ feet The height is ~ feet. 1t is
divided by steel gate into two COM
partments--the outer one containing ia
safe deposit boxes of different sizes and
the inner one the safe and strong box
containing the banks own valuables. The
interior finish is of FURNISHED copper
bronze. The external front of the vault
and the doors, both open and closed. pre-
sent very handsome appearance.
In the basement, directly under this
main vault, there was built a fire-proof
storage vault, opening out of the di-
rectors' room, where books not in use,
papers of record, vouchers, ETC. are
kept The doors and other fittings of
the old vault were utilized in the equip
ment of the storage vault.
The main banking room, as now ar
ranged, provides room for seven desks,
with a separate window for the cashier.
The tellers' department, directly back
of the counter. where the daily business
is transacted, is separated from the rest
of the room by grill work with a self,
locking gate--an arrangement which
gives the necessary freedom to those
having special business with the bank
and to customers who wish to reach
their safe deposit boxes, while properly
protecting cash and other valuables when
not in the vault. \ coupon room opens
off the main room in the rear.
In refitting the main banking room the
black walnut finish, originally used. has
been continued. with a mosaic floor i'm
the public space and the introduction Of
base boards of verd antique from the
Swanton quarries.
The private office, which opens from
this main room and also from the public
room, is IL by 1872 feet in size. 1t is
finished in paneled oak wainscotting five
feet high, with oak cornice an oak floor
and terra Gotta effect on the walls.
The coloring of the oak is peculiarly
soft and agreeable. The furniture was
specially built to match the oak finish i'm
style and coloring.
The directors room. % by 15Ih feet in
size, directly below the private Office and
connected by an oak staircase, is also
finished and furnished in antique oak
There is ample provision for coat clos
cts and other conveniences, and the
banks equipment is now in every re-
spect complete and commodious, and such
as to give it's customers a feeling of as
sured confidence
The wood work was built after plans
drawn by n. A. Plummer. The carpenter
and cabinet work and other mechanical
work has been done, in the main, by To-
cal workmen.
The Peoples bank was organized in
1873, with a capital of 100000. Farley
Starr and Jacob Estey were the men
primarily interested in forming the new
bank Mr.. Starr was the first president
and w. a. Faulkner the first cashier
Business was begun in banking rooms on
the second floor of Crosby block I'm
mediately on the completion, in 1880. of
the Bank block on the site of the old Re-
we're House, the bank was moved to it's
present quarters. Julius ]. Estey sue
ceeded Mr.. Starr in the presidency i'm
1854. Upon the resignation of Mr.. Faulk-
ner i'm 1886, Oscar A. Marshall was chosen
cashier Mr.. Marshall's death occurred
in May, 1898, and w. II. Bracket was then
made cashier. After the death of Gen
Estey in March, 1902, o. L. Sherman was
elected president, The officers now are:
Directors-O. L. Sherman, S. A. Smith,
G. f, Greene, W. II. Bracket, H. p.
Wellman, j. G. Estey, C. r. Crosby.
President, o. l.. Sherman: vice president.
]. G. Estey; cashier, w H. Bracket;
assistant cashier, c. l.. Stickney
The bank has always done a successful
business. It's surplus, and undivided
profits now amount to $4,000, making
total working capital of $4,000 on
the first day of January it carried deposits
of $3.50 509.lS and its loans and discounts
amounted to S645, 172.6O.