The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1911-02-22
EAST SIDERS
ENTHUSIASTIC
At BANK PLAN
Several Merchants Tell LegIs-
lafors Of Need OF
Institution
E. L. Sullivan Says Hundred Mer-
chants ID m snd.Banking Con
venience Now COntem-
pated
Especial to The Farmer.)


Hartford, Feb 22.-Vigorous speech
es urging the Importance of the es-
tapiisnment OF a banking institution
in East Bridgeport were made at the
hearing before the committee on
Banks yesterday of the petition of 20
well known NEUTRALITY-SUSPICIOUS.
names have appeared in previous dis
patches to the Farmer-for the grant
ing Of charter to the East Bridge
port Trust Co.
Senator Archibald Mcneil, Jr.,
opened the hearing.
Numerous other speakers were
heard. There was no opposition, save
the intimatiCn from those who favor
ed the project that the Bridgeport
Trust Co. was inclined to question
the use OF a name so similar to its
own by the proposed new institution.
AS result of this, a new name is
to be given to the committee within
week, and a favorable report from
the committee is expected. The re.
port, whatever its nature may be, is
promised for an early appearance.
Senator Mcneil informed the COM
known to him personally, and that
the enterprise was sound and legitf-
mate, without q suspicion of specula-
tive faint, and that in his judgment
it was a worthy project deserving of
support.
Attorney Robert J. Woodruff, pro-
secutor in the New Haven County
Criminal Common Pleas court, APP
peareG as counsel for the organiza-
ton. and after introducing himself
in his capacity, he presented Former
Senator Moses w. Manwaring, one Of
the organizers of the company.
Mr.. -Manwaring said he had con-
ferred with many business men of the
East Side who agreed with him upon
the urgent need of banking institu-
ton in East Bridgeport. There are
two or three hundred concerns in the
section, and for long time they have
sought just such an accommodation
as the new company seeks to pro-
vide. The organizers, he pointed out.
are well known men.
Chairman Wilton asked about the
relative amount of cash with which
other Bridgeport banking institutions
had started Misunderstanding atten-
ton to the $50 600 paid--in capital
with which the East Bridgeport Trust
there would be objection to the com
rnittee's limiting the time for start
ing business to Dec. 1, 1912, Former
Senator Manwaring said he believed
there would be no objection to such
a provision.
Eugene L. Sullivan. the well known
section the bank would serve con-
tanned a population of 10000. His
concern does a business of 100000 a
year. 1t Is a hardship upon him and
other merchants to have to go over
to Bridgeport proper to do banking.
He said he knew he voiced the senti-
r7r*' " f,,'iv 1nn t,uSiness men when
he asked the committee to consider
.A-G d4}p-lGa--on laVorably.
Mr.. Sullivan, in response to in
frff p aC Cni fhAr 10 T,rx IL t., No.
Bridgeport and that the company
has a site in mind, that it is believed
will prove suitable to the needs of the
new bank.
J. B. Lyford told the committee he
has been in business in East Bridge
that period his concern as well us
others in the section have in part as
stunned the functions of a bank, chang
ing large bills on pay days, cashilg
street is coming to mean to East
Bridgeport what Main street means
to Bridgeport proper, said he and the
business interests of the thriving COM
munity need a banking institution.
Senator Plat of Waterbury got a
laugh when he asked Mr.. Lyford If
the drawhridges were a hardship up
on the East Side merchants when
they planned to go over town to
bank. Apparently the Waterbury
member has been reading of tn =
tribula ions of the Park City with its
drawbridges.
Representatives Bent and Meltzer
told the committee they were pleased
to have the opportunity to endorse
the application Of a body of such rep
resentative Bridgeporters.
The hearing closed without opposi
ton. Chairman Written several times
spoke of the $4,000 as being rather
small to start business, and before
closing the hearing asked the petit
toners If there would be any objec- |
ton to the committees making sug-
gestions in its report. Attorney Wood
ruff said his clients were in earnest !
and would be glad should the COM
mittee make any suggestions, to re- |