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[307] Henry N. Tilton, Dana W. Hyde, Erasmus D. Leavitt, and W. W. Dallinger.


The Cambridge National Bank

The Cambridge National Bank, located at No. 221 Cambridge Street, East Cambridge, was organized in June, 1864, through the efforts of Daniel R. Sortwell, who at that time had just moved into Ward Three from Somerville. The first board of directors consisted of Daniel R. Sortwell, Joseph H. Tyler, John N. Meriam, Charles J. Adams, Thomas Cunningham, Israel Tibbetts, and Joseph A. Wellington. Daniel R. Sortwell was elected president, and John C. Bullard cashier. The bank opened for business August 1, 1864.

The board, as first elected, served without a break until 1874: John C. Bullard was elected in 1875 to succeed John N. Meriam; Alvin F. Sortwell, elected in 1878 to succeed Israel Tibbetts; Gustavus Goepper, elected in 1887 to succeed Charles J. Adams; Charles J. Adams, elected in 1889 to succeed Joseph A. Wellington; George E. Carter, elected in 1895 to succeed Daniel R. Sortwell.

In 1893 the Articles of Association were amended, reducing the number of directors to five.

Daniel R. Sortwell died on October 4, 1894, and the office of president was not filled until the annual election in January, 1895, when Alvin F. Sortwell was elected to succeed him. The present board of directors consists of John C. Bullard, George E. Carter, Thomas Cunningham, Gustavus Goepper, and Alvin F. Sortwell. Mr. Bullard has held the office of cashier since the organization of the bank, and is now serving his thirty-second year in that position. The deposits vary from $280,000 to $370,000, and the surplus and undivided profits are $41,030.30. The bank discounts consist almost altogether of local paper, and it is seldom obliged to buy notes of outof-town parties.


Cambridge Safe Deposit and Trust Company

Cambridge Safe Deposit and Trust Company.—A special charter for this company was granted by the legislature of 1890, and the Cambridge Safety Deposit Vaults Company, with a capital of $20,000, was organized under the general law in January, 1890, by Messrs. William R. Ellis, Richard H. Dana, James W. Brine, J. Rayner Edmands, and Woodward Emery; the stock was wholly taken by residents of Cambridge. The company leased the two stores and basement in Hilton Block, numbered 1298 and 1300 Massachusetts

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