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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)
e easterly corner of Main and Prospect streets. Its first directors were Benjamin Tilton, Daniel U. Chamberlin, George Livermore, Alanson Bigelow, John Sargent, Edward Hyde, Charles Wood, Newell Bent, Louis Colby, William A. Saunders, Estes Howe, and Z. L. Raymond; Hon. Charles Theodore Russell acting as solicitor. It was the intention of the directors to begin business on the first day of March, 1861, but the political condition of the country was unsettled, and as the prevention of President Lincoln's inauguration had been threatened, it was decided to postpone opening until after the inauguration had taken place. The banking-rooms were open for business on the 5th of March. An interesting event occurred on the 22d of April, immediately after the breaking out of the war; at a meeting of the directors the following vote was passed: In consideration of the present exigencies in public affairs, the president of this bank is authorized and requested to tender a loan of $50,000 to th