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Woonsocket Falls Bank

From “Woonsocket National Bank Absorbed by Industrial Trust Company” in the Manufacturers and Farmers Journal, June 18, 1900:

“The Woonsocket Falls Bank, now the Woonsocket National Bank, was organized in 1828 and the first meeting of the stockholders was held July 26th of that year. Dexter Ballou was its first President and held that office until the time of his death, a period of 20 years. Ezekiel Fowler was the second President and held the office from 1849 to 1863, or until the time of his death. Lyman A. Cook filled the office from that time until a few years ago, when John. W. Ellis was made President of the bank. The bank has had six cashiers, Hirman Allen, from Oct. 21 to Dec. 23m 1828; Aaron White, from Dec. 23, 1828, to April 1, 1831; Pardon Sayles, from April 1, 1831, to March 1843; William Metcalf, from April 1, 1843 to April 1, 1850; Lattimer Whipple Balou, from April 1, 1850 to April 1, 1899; and E. Charles Francis, the present incumbent. The bank started with a capital stock of $75,000, and that was increased until it now has a capital stock of $200,000.

“In March, 1865, the Woonsocket Falls Bank relinquished its charter as a State institution and organized as a national bank under the name of the Woonsocket National bank. It was to continue for 20 years and that period was extended for another 20 years, until March, 1905. The bank has never missed a semi-annual dividend.

“The present directors of the bank will constitute the Woonsocket Board of Managers. The transfer of the bank to the Industrial Trust management will take place upon the 23rd of this month. No other banks in Woonsocket are to be absorbed.”

Woonsocket National was absorbed by the Industrial Trust Company (Woonsocket Branch) on June 23, 1900.

For more information, see History of Banking in Woonsocket by Erik Eckilson.

 

Woonsocket Falls

Woonsocket Falls Bank

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Woonsocket Falls

“Die Proof Vignette of the George C. Ballou Mill and Woonsocket Falls used on the Woonsocket Falls Bank, Woonsocket, Rhode Island. India paper die proof, sunk on wide margin card. Untitled impression, with Toppan, Carpenter & Co. imprint, of this detailed mill and waterfall scene appearing on this rare series.”

woonsocket detail

Detail showing an early view of Woonsocket.

woonsocketfalls

An early location for the Woonsocket Falls Bank.

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