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The Cambridge of eighteen hundred and ninety-six: a picture of the city and its industries fifty years after its incorporation (ed. Arthur Gilman), Financial and manufacturing. (search)
32, and was located in East Cambridge. William Parmenter was elected president, and William Whitney cashier. The bank, after a short existence, was obliged to wind up its affairs; it redeemed its circulation, paid its depositors in full, and forty-two per cent. of its capital to its stockholders. Lechmere Bank In 1853 the Lechmere Bank was chartered with a capital of $100,000. Its first board of directors consisted of Lewis Hall, K. S. Chaffee, Samuel Slocomb, Francis Draper, and Amory Houghton. Lewis Hall was elected president, and John Savage, Jr., cashier. Mr. Hall still holds the office of president. The bank is located on Cambridge Street, East Cambridge, and is very successful. Its capital is $100,000, and February 28, 1896, it reported a surplus fund and undivided profits of $82,090, and deposits of $183,598. National city Bank National city Bank was organized May 30, 1853, under the name of the Cambridge City Bank, with Samuel P. Heywood, Eliphalet Davis, John