New Ipswich Savings Bank

Posted on July 10, 1855

1916 Newsclipping

NEW IPSWICH 1916 

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 written 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, 13 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. those who filled the office of trustees [illegible] were still living.

Photo Archives

Not certain where the bank was located but we have a photo of a brick house which may have been located in Bank Village and may have been the bank at some point. This is just a speculation, because brick buildings are scarce. Please leave a comment if you have any information.

Was this every a bank?

Thayer’s One Hundred Formulas

A reader sent some photos of medicine produced using the formulas published by S.A. Thayer in 1883. Photos of the handbook were also included but the text is challenging to transcribe. An ointment for what ails you.

Vegetine Ointment

Vegetine Ointment-For Burns, Scalds, Cuts, Bruises, Sore Lips, Chapped Hands, &c. 

   One of the family remedies that finds a ready sale at every house, and gives a large profit to the manufacturer. Put up in 2 oz, tin boxes, and retails at 25 cents. Cost of manufacture, less than 5 cents. 

Formula-vinegar, 10 ozs.; sugar of lead, 5 scr.; beeswax, 16 ozs.; olive oil, 2 1-4 lbs.; gum camphor, 2 drs. 

Direction for compounding-Mix the beeswax with 2 lbs. of olive oil by heat; then remove from the fire, and when it begins to thicken add the mixture of vinegar and sugar of lead, which should have been previously prepared. Stir constantly with a wooden paddle till cool. Then add the camphor, dissolved in the remainder of the oil, and mix thoroughly. 

Directions for use-Bind wounds when the skin is broken; otherwise rub thoroughly once a day. 

James Roger diary entry

September 23^rd 1908 (Wednesday)

Warm, muggy, smoky day.  David & C. Whittemore repairing roads in Cemetery.  I filled lamps and swept Hall for Grange tomorrow night. Also lifted the last of my beans out of the garden.  David sold reaping machine to Mr. Huckins for same money as he paid for it $3⁵⁰.