Ticonic National Bank, Waterville, ME (Charter 762)
Ticonic National Bank, Waterville, ME (Chartered 1865 - Liquidated 1931)
Town History
Waterville is a city in Kennebec County, Maine, on the west bank of the Kennebec River. The city is home to Colby College and Thomas College. As of the 2020 census the population was 15,828. Along with Augusta, Waterville is one of the principal cities of the Augusta-Waterville, ME Micropolitan Statistical Area.
The area now known as Waterville was once inhabited by the Canibas tribe of the Abenaki people. Called "Taconnet" after Chief Taconnet, the main village was located on the east bank of the Kennebec River at its confluence with the Sebasticook River at what is now Winslow. Known as "Ticonic" by English settlers, it was burned in 1692 during King William's War, after which the Canibas tribe abandoned the area. Fort Halifax was built by General John Winslow in 1754, and the last skirmish with indigenous peoples occurred on May 18, 1757.
The township would be organized as Kingfield Plantation, then incorporated as Winslow in 1771. When residents on the west side of the Kennebec found themselves unable to cross the river to attend town meetings, Waterville was founded from the western parts of Winslow and incorporated on June 23, 1802. In 1824 a bridge was built joining the communities. Early industries included fishing, lumbering, agriculture and ship building, with larger boats launched in spring during freshets. By the early 1900s, there were five shipyards in the community.
Ticonic Falls blocked navigation farther upriver, so Waterville developed as the terminus for trade and shipping. The Kennebec River and Messalonskee Stream provided water power for mills, including several sawmills, a gristmill, a sash and blind factory, a furniture factory, and a shovel handle factory. There was also a carriage and sleigh factory, boot shop, brickyard, and tannery. On September 27, 1849, the Androscoggin and Kennebec Railroad opened to Waterville. It would become part of the Maine Central Railroad, which in 1870 established locomotive and car repair shops in the thriving mill town. West Waterville (renamed Oakland) was set off as a town in 1873. Waterville was incorporated as a city on January 12, 1888.
Waterville had five National Banks chartered during the Bank Note Era, and four of those banks issued National Bank Notes.
Bank History
- Organized January 3, 1865
- Chartered January 28, 1865
- Succeeded Ticonic Bank
- Liquidated September 8, 1931
- Absorbed by 880 (Peoples NB/Peoples-Ticonic NB, Waterville, ME)
- Circulation assumed by 880 (Peoples NB/Peoples-Ticonic NB, Waterville, ME)
- Receivership June 28, 1934
The Waterville Bank received its charter from the Massachusetts General Court on February 12, 1814, and was housed in a small one-story wooden building erected for its use on Main Street just south of Ticonic Row. In 1831, the Ticonic bank was granted a charter by the Maine legislature and was organized to succeed the Waterville bank, taking over its assets and continuing to carry on the business in the same building. Here it remained until it surrendered its state charter and became the Ticonic National Bank in 1865, at which time it bought and occupied a small wooden building standing of the site later known as 116 Main Street. In 1875, the wooden building was replaced by a brick building. In 1905, the banking rooms were remodeled and greatly improved.[1]
In 1836, Augustine Perkins was cashier of the Ticonic Bank.[2]
In January 1877, the directors were Sam'l Appleton, Chas. K. Mathews, E.G. Meader, N.R. Boutelle, H.R. Butterfield. Samuel Appleton was president and A.A. Plaisted, cashier.[3]
In January 1905, at the annual meeting of stockholders, the following directors were elected: George K. Boutelle, Clarence A. Leighton, Charles Wentworth Joseph Eaton, and William T. Haines. George K. Boutelle was chosen president, and Clarence A. Leighton, vice president.[4]
Early in 1919, the True property, lying between the post office on the north and the Unitarian Church on the south was acquired.[5] In August 1919, the Ticonic National Bank announced it would erect a block to cost $100,000 and work would commence at once.[6] On Monday, August 25, the Horace Purinton Co., general contractors of Waterville, began tearing down the old True House on Main Street to make room for the new Ticonic National Bank building.[7] Plans and specifications were prepared by Thomas M. James of Boston. The William True house, a landmark for several decades, was built many years ago and in the early days was used in part for a day school, this occupying the basement.[8]
On January 1, 1921, the new home of the Ticonic National Bank was opened to the public for inspection. An enlarged facility was needed to meet the growth of the district and expansion of the bank.[9] On Tuesday, January 11, 1921, at the annual meeting of the stockholders, the following directors were elected: George K. Boutelle, J.D. Taylor, William J. Lanigan, Charles J. Clukey, E.K. Leighton, Joseph Eaton, Cecil Daggert and W.L. Brown.[10] In February 1921, the directors solicited proposals for the purchase of the bank's recently vacated building on Main Street. The Peoples National Bank would purchase the building and connect its building with the old Ticonic Bank building completing construction in 1923.[11]
In January 1931, Financial Institutions, Inc., a Maine Corporation with headquarters in Augusta reported preferred stock authorized as 25,000 shares and common stock authorized as 200,000 shares. The company owned a majority of the capital stock of 14 Maine banks having 39 banking offices and total resources of more than $86,000,000. The banks were Fidelity Trust Company, Augusta Trust Company, First National Granite Bank, State Trust Company, Peoples National Bank, Ticonic National Bank, Rockland National Bank, Security Trust Company, Maine Trust & Banking Company, National Bank of Gardiner, Gardiner Trust Company, Brunswick National Bank, York County Trust Company, and Georges National Bank.[12]
On Tuesday, January 13, 1931, at the annual meeting of the stockholders, the following officers were elected: Charles W. Vigue, president; Julian D. Taylor, vice president; George H. Viles, cashier; George K. Boutelle, chairman; C.N. Perkins, William L. Brown, Cyril M. Joly, William J. Lanigan, Julian D. Taylor, Charles W. Vigue, and John Ware, directors. The elections placed Charles W. Vigue as president of both the Ticonic and Peoples banks. Another important change was the election of George H. Viles of Madison as cashier to replace J. Merle Bridges who accepted a position as vice president of the Federal Trust Co. Mr. Viles had been manager of the Madison branch of the Augusta Trust Co. and came to Waterville highly recommended.[13]
On Sunday, Aug 9, 1931, cash, securities, and equipment were transferred from the Peoples National Bank to the Ticonic National Bank building, the home of Waterville's newest banking institution, the Peoples-Ticonic National Bank.[14] With the merger of Waterville's two leading banking institutions into a single unit, Financial Institutions, Inc., created a $9 million bank with capital and surplus of $700,000, one of the largest in Maine outside of Portland. The directorate of the Peoples-Ticonic National would be composed of Maine men, the majority from Kennebec County who had been successful in business and financial fields.[15] At the stockholder's meeting held on September 3rd, it was voted unanimously to change the name to the Peoples-Ticonic National Bank. It was also voted to change the par value of the stock from $100 per share to $25. An increase in capital stock by $100,000 was authorized, making the total $300,000 with the surplus $400,000. Charles W. Vigue, president, presided over the proceedings.[16]
George Keely Boutelle was born in Waterville on March 15, 1857; graduated from Harvard College in 1878; and from Harvard Law School in 1882. Although a member of the Kennebec bar, he soon gave up law in favor of his other business interests. He had a long connection with the Ticonic National Bank of which he was president from early in the century until its merger in 1931, and with the Kennebec Water District, the treasureship of which he held from its inception until the time of his death on June 18, 1938. He was also a trustee of the Waterville Savings Bank and had been a trustee and treasurer of Colby College.[17]
Official Bank Title(s)
1: The Ticonic National Bank of Waterville, ME
Bank Note Types Issued
A total of $3,430,300 in National Bank Notes was issued by this bank between 1865 and 1931. This consisted of a total of 426,272 notes (379,004 large size and 47,268 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Original Series 4x5 1 - 4150 Original Series 3x10-20 1 - 1920 Series 1875 4x5 1 - 1970 Series 1875 3x10-20 1 - 1972 1882 Brown Back 4x5 1 - 8200 1882 Brown Back 3x10-20 1 - 6340 1902 Red Seal 4x5 1 - 4300 1902 Red Seal 3x10-20 1 - 2680 1902 Date Back 4x5 1 - 8250 1902 Date Back 3x10-20 1 - 6580 1902 Plain Back 4x5 8251 - 37000 1902 Plain Back 3x10-20 6581 - 26219 1929 Type 1 6x5 1 - 5001 1929 Type 1 6x10 1 - 2232 1929 Type 1 6x20 1 - 645
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1865 - 1931):
Presidents:
- Joseph Eaton Sr., 1865-1865
- Solyman Heath, 1866-1874
- Major Samuel Appleton, 1875-1884
- Dr. Nathaniel R. Boutelle, 1885-1890
- Charles K. Mathews, 1891-1898
- George Keely Boutelle, 1899-1931
- Charles W. Vigue, 1931-1931
Cashiers:
- Aaron Appleton Plaisted, 1865-1895
- Appleton Heath Plaisted, 1896-1900
- Hascall Shailer Hall, 1901-1911
- Horatio Dennis Bates, 1912-1916
- Charles McGann, 1918-1920
- Jerry Merle Bridges, 1921-1931
- George Henry Viles, 1931-1931
Other Known Bank Note Signers
- No other known bank note signers for this bank
Bank Note History Links
Sources
- Waterville, ME, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- ↑ Morning Sentinel, Waterville, ME, Wed., Nov. 19, 1919.
- ↑ Kennebec Journal, Augusta, ME, Wed., Sep. 21, 1836.
- ↑ Kennebec Journal, Augusta, ME, Wed., Jan. 17, 1877.
- ↑ Morning Sentinel, Waterville, ME, Tue., Jan. 17, 1905.
- ↑ Morning Sentinel, Waterville, ME, Wed., Nov. 19, 1919.
- ↑ Evening Express, Portland, ME, Fri., Aug. 22, 1919.
- ↑ Morning Sentinel, Waterville, ME, Sat., Aug. 23, 1919.
- ↑ The Times Record, Brunswick, ME, Fri., Aug 29, 1919.
- ↑ Morning Sentinel, Waterville, ME, Wed., Dec. 29, 1920.
- ↑ Morning Sentinel, Waterville, ME, Wed., Jan. 12, 1921.
- ↑ Morning Sentinel, Waterville, ME, Thu., Feb. 10, 1921.
- ↑ Evening Express, Portland, ME, Sat., Jan. 3, 1931.
- ↑ Morning Sentinel, Waterville, ME, Wed., Jan. 14, 1931.
- ↑ Morning Sentinel, Waterville, ME, Wed., Aug. 12, 1931.
- ↑ Morning Sentinel, Waterville, ME, Mon., Aug. 10, 1931.
- ↑ Morning Sentinel, Waterville, ME, Fri., Sep. 4, 1931.
- ↑ Morning Sentinel, Waterville, ME, Mon., June 20, 1938.