Navigation Menu+

Union Bank, Providence

As reported in 1891:

“The Union Bank was incorporated in 1814. The first directors were: Ephraim Brown, Amos M. Atwell, Samuel Aborn, Elisha Dyer, Amasa Mason, Samuel Ames, Ephraim Talbot, James Rhodes, Benjamin Clifford, Isaac Bowen, Jr., and Richmond Bullock. The bank occupies the Union Bank Building, at 10 Westminster street, the building having been erected for it in 1815. The successive presidents have been: Ephraim Bowen, Benjamin Clifford, Amasa Mason, to about 1840; Elisha Dyer, from about that date to 1855; John Hormsbee,1855 to 1861; James Y. Smith, 1861 to 1877; Charles A. Xichols, 1877 to 1878; Henry G. Russell, 1878 to the present time.

“The capital of the bank has varied at different times. From $500,000, about 1870, it rose to 8800,000, and in the course of about seven years dropped again to $500,000, where it now stands. Successive cashiers from the start have been: Richard Lippitt, Thomas B. Fenner, William J. King, James B. Hoskins, to 1870, after a term of more than thirty years; Joseph C. Johnson, 1870 to the present time. The present directors are: Henry G. Russell, Elisha Dyer, Jr., Johns H. Congdon, William W. Dunnell, Joseph C. Johnson, William A. Tucker and John W. Slater.” — Richard M. Bayles, History of Providence County, Rhode Island, Volume I. New York: W. W. Preston, 1891.

According to Roger Durand, the Union Bank was forced into liquidation in 1890 due to the failure of the A&W Sprague Company. It never joined the national banking system.

 

IMG_0148

union bank of providence

IMG_0149

IMG_0006

Union Bank stock certificate for William J. Pearce

Union Bank stock certificate for 30 shares, November 17, 1831. For William J. Pearce, signed by bank cashier, William J. King.

Blank bank check.

Blank bank check.

union bank providence

A letter on bank stationary.

The Union Bank was located in the building at right on Westminster Street (part of the sign is visible on the second storey). These two buildings here were collectively known as the Union Buildings.

The Union Bank was located in the building at right on Westminster Street (part of the sign is visible on the second storey). These two buildings here were collectively known as the Union Buildings.

Looking west, towards downtown.

The Union Bank building adjacent to the Merchants Bank, prior to 1890. Today, this is the intersection of Memorial Boulevard and Westminster Street.

Looking toward downtown from College Hill, 1950. Union Buildings.

Looking toward downtown from College Hill, 1950. The Union Bank’s former home is dwarfed by the Hospital Trust, Turk’s Head and Industrial Trust buildings that surround it. From Elmer S. Horton, A Market Street Memento. Providence: Citizens Bank, 1954. Courtesy of the Quahog Annex.

merchants bank providence

The site of the former Union Building today. Only the Merchants Bank building still stands.

© 2015 RICurrency.com, Old Banknotes From Rhode Island. Please do not republish the images on this website without permission.