Putnam patriot., 1914-08-21
NEW OFFICERS
Corporations of Putnam Savings Bank
 Perfect Reorganization
Chester E. Child President, Frank G Letters Vice President and Daniel J.
 Byrne Treasurer

lions made by the state bank commis- sioners the corporators of the Putnam Savings Bank, at the adjourned an- nua meeting held in the banking rooms Monday afternoon, perfected a reorganization of the official board by electing new officers.
 At the last meeting ten new corpora- tors were elected making twenty-seyen in all but as one failed to qualify it left the number twenty.six. Of these Treasurer Tourtellotte and Benjamin Grosvenor were absent and E. M Wheaton, who was out of town, did not arrive in time to participate. l.. A. Catlin acted as chairman of the meeting and as soon as it was called to order the election of officers took place.
 Chester k Child of Putnam was elected president in place of John NJ. Paine of Woodstock who refused to serve further either as president or as trustee. Frank G. Letters was elected vice president in place of Benjamin Grosvenor, who also refused to serve further Daniel J. Byrne was elected treasurer in place of Jerome Tourtel- lotte, the vote being Is to s. Charles H. Brown and Henry J. Thayer were elected auditors. The following trus- tees were elected: Jerome Tourtellotte, Edward Mullan, Lebbeus E. Smith, Chester k. Child, Frank G. Letters, Edgar M. Wheaton, Charles NJ. Fen ner, John Ash, John G. Johnson, George D. Clarke, Ernest B. Kent, George k. Brousseau, Henry T. Child, John P. Grosvenor, Melanethon Rid dick. Of those elected four are of the old board of trustees and two are of the old board of eorperators the other members being chosen from among the ineorporators elected at the last meeting. The meeting adjourned un- til the third Monday in September.
 The valuable services to be rendered by the trustees will be very much of the nature of a public benefaction, for according to the charter of the bank they do not receive compensation.
 The deposits of the institution now amount to about S1 ,700,00o The laws of the State do not allow the Trustees or other officers to borrow from it's funds.
 After the corporators' meeting the regular monthly meeting of the trus-
 T tl.i fD1l lna aFl committee was elected: Chester k. Child. Daniel J. Byrne and Lebbeus E. Smith. This meeting was adjourn ed to the second Monday in Septem' Der. The adjournments were taken Tn order that the newly elected officers would have time to qualify.
 Jerome Tourtellotte, the retiring treasurer, has held that office for over thirty-four years'having assumed the office the first of March, 1880. He has been faithful, painstaking offleial. He is highly respected and esteemed by the citizens of Putnam and the banking community which he served faithfully for so many years. Never has the faiutest shadow been cast upon his good name and although the pank has been experiencing difficulties not the slightest breath of anything dis- honest or irregular in the management of the institution has ever been breath ed, his stolid honesty has never receiV- ed the slightest question. The many Mr has done for the depositors was realized by H. Leonard Beadle, one of the ap- praisers who examined the bank short time ago and whose letter was published last week wherein he says; sI have been much impressed wlIh the great amount of hard, honest work you must have put in for the deposit ors of your institution, at a salary small for the size of the bank MT. Tourtellotte leaves the treasurershlp of the institution with the esteem and high regard of all who know him.
 Daniel J. Byrne, the newly elected treasurer, is now the treasurer of the Windham County Savings Bank ot Danielson to which position he was elected last October when the bank was reorganized after having been closed by the bank commissioners uh- der situation in some respects Ike that of the present Putnam bank. MT Byrpe was born in Mechanicsvllle Tn town of Thompson and is ,the son or Mrs. Mary Byrne, Woodstock avenue, Putnam. After the family removed 10 Putnam MT. Byrne entered the Put nam High school and finished his eau cation and fitted himself for business career in Providence. For nfteeh years he was connected with the Put nam Savings Bank leaving aoodt nse years ago to become manager oi the safe deposit department of the flrss National Bank of Boston and was noia- ing that position when elected treas urer of the Danielson bank. Mf' Byrne needs no introduction in Put nam and his election will inspire con fidence in the future of the bank.
 The action of the corporators Mon- day was received with pleasure by the depositors and also, it Is understoou, by the bank commissioners. II Is Oe- lieyed that it will tend to bring aoous