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Butchers & Drovers Bank, Providence

As reported in 1891:

“The Butchers’ and Drovers’ Bank was incorporated in May, 1853, with a capital of $250,000, and located at 25 Broad street. Its first directors were B. B. Knight, Alfred Anthony, Henry J. Burroughs, Welcome B. Sayles. Albert S. Gallup. Daniel Remington, Nathaniel A. Eddy, John .Stokes, David S. Carr. J. S. Tourtellot and William O. Darling. The president of the bank during the whole period of its active existence, up to 1887, was Benjamin B. Knight, with the exception of perhaps a year about 1858. when the office was filled by Henry J. Burroughs.

“The first cashier, W. Knight, was succeeded, in 1868. by Newton C. Dana, who remained till 1887. The bank location was changed about 1850. to 25 Weybosset, in 1867 to 29 Weybosset. and about 1880 to 49 Weybosset, where it remained till 1887. The capital of the bank then was $150,010, at which amount it had stood for several years. The directors were Benjamin B. Knight, Jeremiah Knight, Edwin Knowles, Charles M. Sheldon, Newton C. Dana, Edward Shaw. 2d. and Henry Fiske.” — Richard M. Bayles, ed. History of Providence County, Rhode Island, Volume I. New York: W. W. Preston, 1891.

Butchers and Drovers did not join the national banking system. It was liquidated in 1890, according to state records. (However, a mention in a Providence paper in 1903 notes that courts were still trying to determine how the enterprise should finalize its closure.)



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