Cows

New Ipswich Historical Society

Bank Village

Farmer with Cow and Calf. Photo probably taken in Bank Village.

Newspaper Clipping

New Ipswich Savings Bank

This bank was established in 1849, and in 1905 it was voted to discontinue it after an existence of 56 years. During the past week a brief history of this financial institution was writ- ten for the compiler of the savings banks of the United States. A few citations from the records since Jan. 3, 1849, will be interesting. The first president was Jeremiah Smith, who served 23 years; the second, James Chandler who served five years; the third, William W. Johnson, who served five years; the fourth, George Whiting, who served six years; the fifth, William A. Preston, who served 13 years; the sixth, John Preston, who served three years, until the dissolution.

The first trustees: William W. Johnson, Joseph Barrett, James Chandler, Nathan Sanders, Jeremiah Smith, Supply Wilson, George Barrett, Hiram Smith, Stephen Smith. The first secretary was John Preston, who served 18 years; second, William A. Preston, who served eight years: third, Frank W. Preston, who served 31 years.

The first treasurer was John Preston, who served till 1867; second, William A. Preston, who served eight years; third, Frank W. Preston, who served 30 years. The first investment committee was George Whiting, William W. Johnson, James Chandler.

The savings bank was discontinued in 1905 and arrangements were made to liquidate, and pay out the depositors pro rata from the assets, including a large guarantee fund.

This bank and Mason Village Savings bank were the only two in southern New Hampshire that escaped the court's enjoinment at the time of the financial disaster due to faulty Western investments, when 25 of the savings banks of the state were enjoined. Some of the trustees held long terms of service, namely James Chandler, 30 years; Ephraim Fox, 44 years; William W. Johnson, 43 years; Frederick Jones, 12 years; Edward O. Marshall, 25 years; Frank W. Preston, 37 years; William A. Preston, 39 years; Newton Brooks, 14 years; Henry O. Preston, 23 years; George Sanders, 11 years; Jeremiah Smith, 23 years; George W. Wheeler, 2d, 22 years; George Whiting, 20 years; Charles A. Whitney, 18 years; William H. Wilson, nine years; Derostus P. Emory, 12 years. Οf those who filled the office of trustees five are still living.

James Roger diary entries

24th August 1912

Cloudy but fair and cool. David at Academy in forenoon and took May’s Box and two of the children to the Depot in afternoon. I took May and the other three. I picked 7 broilers and swept Hall and fixed lamps for the Club Dance tonight. Got letter from Hamish. There was a good attendance at the Dance. Receipts: $60.00.