Archiver > RIGENWEB > 2005-07 > 1121899966

From: cyndee arruda <>
Subject: Re: [RIGENWEB] Banks & Insurance Co. of Providence (part 14)
Date: Wed, 20 Jul 2005 15:52:46 -0700 (PDT)
In-Reply-To: <>

Beth Hurd <> wrote:from
History of Providence County, Rhode Island
Edited by Richard M. Bayles.
In two volumes, illustrated. Vol. I.
New York: W. W. Preston & Co., 1891.

pp. 550 - 580. (part 14)

"The Phenix Bank was incorporated in October, 1833. Its first president
was James F. Simmons, who continued until about 1843, when he was followed
by Samuel B. Wheaton. He was succeeded by Edward Pearce in 1851. After
about 30 years of service he was followed by Jonathan Chace, the present
official, in 1881. The capital of this bank in 1838 had reached $160,000;
and in subsequent years it increased until in 1863 it reached $437,650. In
1865 it was reorganized as the Phenix National Bank, with a capital of
$450,000. The capital has since remained the same in name, but a surplus
has been accumulating which now amounts to $350,000. The first cashier was
Jesse N. Olney, followed by Benjamin White, previous to 1838, who continued
till 1875, when he was succeeded by George E. Martin, who for several years
had served as assistant cashier, and still holds the office of
cashier. This bank was originally located at Pawtucket, under the name of
Farmers' and Mechanics' Bank, but afterward moved to Providence, where it
received the new name. Here, in 1838, it was located at 39 Market
street; in 1844 at 41 Market street; in 1852 at 7 What Cheer Building,
where it remained until 1889, when it was domiciled at 58 Dorrance street,
in the Narragansett Hotel building. The present directors are Smith Owen,
Franklin H. Richmond, John S. Ormsbee, Scott W. Mowry, Jonathan Chace,
Edward Pearce, Jr., George E. Martin, Webster Knight, Henry A. Munroe and
Frederick E. Perkins.

The Traders' Bank was incorporated in June, 1836, with a capital of
$200,000, which limit has since been maintained. Its location has been,
even to the present time, in the Union Building, No. 4 Westminster
street. It was reorganized in 1865 as the Traders' National
Bank. Successive presidents of this bank have been: Erastus F. Knowlton,
to about 1840; Earl Carpenter, from that time to 1862; Z. R. Tucker, 1863
to 1873; Henry A. Webb, 1874 to the present time. The cashiers have
been: Henry S. Angell, to about 1840; Henry A. Webb, from that time to
1857; Edwin Knight, 1858 to the present time. The directors are Henry A.
Webb, Lewis W. Anthony, Albert H. Manchester, Jr., William A. Tucker, Almon
Wade, William Sessions and Benjamin W. Spink."

continued in part 15.

facing page:
engraved portrait of Daniel E. Day

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