Norwich bulletin., 1913-03-20
uNfoss BANK OLDEST
 IN THE STATE.
In 6asfness In New London Since 17e2 -Firet Directors Were Divided Be- tween Norwich and New London.


 It Is very likely that a good man eastern Connecticut people who kney that the Union bank of New Londol had made application to the legisiatur for permission to conduct the bushes cf a trust company in connection wit! it's regular banking activities do no know that the Union bank is the old est in the state. Such is the fact however, for 1t was chartered in 17S2 and while a bank in Hartford and au
 .lner in New Haven were charteret 1t the same legislative session. 1t Was later than the action that gave ths Union permission to do business.
 It may also not be generally known business there were but seven othel banks In the United States. They were:
 Bank of North America, Philadel- pfia. 1781.
 Massachusetts bank, Boston. 17s4.
 Bank of New York. New York, 17s4
 Bank of Maryland, 179o.
 Providence bank, 1792.
 Union bank, Boston, 1792.
 New Hampshire bank. 17S2.
 The first name proposed for the Union bank was Bank of New Lon don and Norwich, prominent citizens of both places being interested in the institution, and the board ef directors being divided between representatives of the two cities. That name was en- tirely too long for use and 1t was changed to the one that has been used for 121 years, which met all of the necessities in the way of being de- scriptive.
 The first stockholders meeting was held March 5. 17s2. Hon. Richard Law was chosen moderator and VII n- liam LefhngweI was made clerk. The following directors Were elected: Gen. Jeddediah Huntington, Joshua Lathrop, Marvin Wait, Joshua Rowland, Guy Richards. Joseph Williams. Samuel @nIr vi Ia nI Colt, Edward Hallam, Samuel Wood bridge, Joseph Peckham and George Phillips.
 / At a meeting of the directors held June 5. 17s2. a vote was adopted which directed the president. General Hunt ington, to provide an office. seal, desk. scale weights and the necessary books for carrying on the business.
 The president was also authorized Of paper and plates for bank notes. Gold was ordered. received and paid out at the bank at the rate of Ss cents & pennyweight.
 Two witnesses were required on all notes taken at the bank and the rule adopted was that no loan should be made for a longer period than 50 days.
 The first location of the Union bank as in a brick building at the south west corner of Water {then Beach) and HalIam (then Munford) streets. The State street building was erected in 1877.
 In spite of the long history of the bank there have been but compar5.- tfvefy few changes in the principal of hciais. Hon. George F. Tinker is president of the institution, having succeeded the late William H. Chap man. The other presidents have been: l1s2, Gen. Jeddediah Huntington; ISIS, l George Hallarn; 1925 ". ?. Cleveland; 1888. Jonathan Starr; 1858, Robert 1 Colt; 1858, William Fl. Chapman. Carlos Barry is the present cashier ! of the bank. having succeeded the lata 1 ,. Lawrence Chew. The other cashiers | who have served were: 17e2, John 14s4 1 am: 1900. Robert Hailaa7 1927. Eb- enezer Learned 1SSS. Joseph c. Sis | Eare: 1851, Charles c. Sistare; 1860. l L. c. Learned; 1885. J. Lawrence | Chew.
 In April, 1865. the bank reorganized | inder the national banking act, but in | 1881 it resumed its state charter, un- der which 1t has continued to do | business ever since.