1399 1909 /Modern New Rochelle AMD The National City Bank A TENTH a ERSARY MEMENTO WITH ASd 3NTRIBUT kY THE CHIEF Class £_113 Book.jV55i^2 CopyiightW. COPYRIGHT DEPOSIT. 1899 1909 MODERN NEW ROCHELLE AND THE NATIONAL CITY BANK A TENTH ANNIVERSARY MEMENTO WITH ARTICLES CONTRIBUTED BY THE CHIEF EXECUTIVES OF THREE CITY ADMINISTRATIONS Copyright, 1909 The National City Bank 5 ? SI £1 uj c Z O Z g 21 en si TN THE SAME YEAR THAT NEW RO- 1 CHELLE BECAME A CITY, THE NATIONAL CITY BANK OFFERED ITS SERVICES TO THE COMMUNITY NOW THAT BOTH CITY AND BANK ARE CELEBRATING THEIR TENTH AN- NIVERSARY, IT SEEMS APPROPRIATE THAT A CONDENSED RECORD OF THEIR REMARKABLE DEVELOPMENT SHOULD BE MADE IN PERMANENT FORM, BOTH FOR THE PRESENT INTEREST OF SUCH A RECORD, AND FOR ITS POSSIBLE FUTURE USEFULNESS THE NATIONAL CITY BANK THEREFORE PRESENTS THIS VOLUME TO ITS PA- TRONS, WITH SINCERE APPRE- CIATION OF THE PART THEY HAVE PERFORMED IN THE HISTORY OF ITS OWN GRATIFYING PROGRESS HONORABLE MICHAEL J. DILLON First Mayor of New Rochelle RETROSPECTION BY THE HON. M. J. DILLON First Mayor of New Rochelle EN years is but a short lapse of time as days pass in our busy life. Years roll along in review rapidly, events accumu- late with a speed that almost defy record. When I attempt to recall history attending the early days of our city, I am compelled to recognize the fact that the placing and proper starting of ma- chinery necessary to the running smoothly of a municipal government is a responsibility that no one should accept without due consideration and full knowledge of what has to be undertaken. The charter enacted by the State Legislature transforming New Rochelle into a city was drafted by the late John Q. Underhill, J. A. Mahlstedt and other influential citizens of this locality. On the passage of the act, I was honored by the citizens when they asked me to accept a nomination for election as the City's first Mayor. I hesitated in giving answer, realizing as I did the magnitude of duty an acceptance would involve. I was not a novice in the line of local office holding, I felt con- fident that by experience and knowledge of public affairs I was to an extent well equipped to perform the work at hand, yet I hesitated. New Rochelle had its affairs managed by both a town and a village government in years past, and Page Nine though it had been governed and conducted by meth- ods as economical and conservative as is usual with towns and villages, yet public improvements, in keep- ing with the natural beauties of the locality, were sadly lacking. In some respects many sections were decidedly primitive, but capable of cultivation and unfolding into places of beauty. I recognized that my fellow townsmen had a right to call me to service, and if such service sought me I should respond; accordingly I accepted, and was elected First Mayor — an honor that I shall ever appreciate. In giving ourselves to retrospection, in reviewing the events in the brief history of our City, we doubt- less recall some things that are pleasant to memory. The first three years during the re-creation of town and village into the more imposing position of a City the way was strewn with many difficulties. New dress becoming a bride costs money; if the new City was to be clothed in fine raiment as be- came it, money would have to be spent. The lack of money was one of the first difficulties met, it was a fact that neither the town nor the village was at the date of their passing out over-burdened with cash assets, while the liabilities inherited were con- spicuously in evidence. The streets and avenues were not mere cow- paths, as in primitive times, but they were when taken as assigns by the City places where mud, deep and lasting, gathered to the great discomfiture of our good citizens and hindrances to the free passage, to and fro, of vehicles. Page Ten To better conditions was one of the things that my fellow citizens had a right to expect of me. I determined to meet these expectations to the best of my ability. At the outset I laid down a rule that only substantial improvements were worth having, and that the taxpayer must be able to recognize that every dollar of the people's money had been ex- pended judiciously and full worth had been re- ceived in return. I am now convinced that a calm, unprejudiced review of the City's history, in the early years of its creation, will develop the truth that the then City Administration did all in its power to fulfill all promises made in the direction of providing a de- sirable City Government and to serve the best in- terests of taxpayers. Our conveniently situated locality, made beauti- ful by nature, had its attractiveness marred by defects that, in my opinion, could readily be remedied, though the cost might be according. Main Street, our principal business thorough- fare, was found to be in a state probably similar to that of the one street first viewed by the early Huguenots on their landing on our shores. It was almost impassable on account of the over-abundance of mud in the roadway. As soon as the ingenuity of man could devise, a handsome asphalt pavement drove out the mud and gave us one of the finest streets in the state. The North Avenue improvement was one of the greatest reconstructions during my administra- tion. This, one of the first and principal streets in Page Eleven the old town, underwent a complete transformation, and our people have never regretted the expense this improvement cost. Here is a boulevard, un- usually wide and miles long, leading to the County seat and to many other attractive communities. Since its completion it has developed into a most desirable residential locality; the value of property along this street has increased in some instances ten fold. The improvement has been the means of opening up lands that previously had no outlet, the construction of handsome private parks, and the building of charming villas and palatial residences in close proximity, thereby justifying the judgment that suggested the improvement. The introduction of improvements and beautify- ing of Hudson Park and making the same self sustain- ing by collection of rentals. The paving by brick of Franklin Avenue, the thoroughfare leading to Hudson Park, and the eliminating of a mud road bed, makes a drive to the park an exercise most en- joyable. Owners of property along this street also can testify to the enhancing of values. The reconstruction of east Main Street to the Larchmont line, the building of a lasting brick pave- ment road, answered the prayers of many residents on this street. The paving with brick of Webster Avenue, and the widening of that elevated street, overlook- ing the city, had added much to the prosperity of the city, opening as it does a channel through which desirable citizens can find accessible homes, in localities little known before this era Page Twelve of improvements, in a previously undiscovered country. Today thousands reside in the vicinity of Webster Avenue who ten years ago knew it not. That I assisted in the discovery and development of new lands within our borders is especially gratify- ing to me. The removal of the hideous railroad tracks on Centre Avenue and the improvement of that choice residential street, though the tracks had to be re- moved by the employment of force, was approved by residents. This handsome street is paved with stone block that are as good now as when laid. The paving with brick of west Main Street to the Pelham Manor line rid the city of a mud trail that should not find place in a civilized community. The brick paving of Drake Avenue, from Main Street to Pelham road and thence to the entrance of Glen Island, was another of the popular improve- ments effected. The pavement with asphalt of Huguenot Street developed what is now one of the City's principal business thoroughfares. The upbuilding and paving of the several streets leading to the principal railroad station contributed to the comfort and convenience of citizens generally, as did the prevention of attempts of the Railroad Company to close certain streets to the detriment of the public. Other streets and avenues which I recall as having been benefited by needed improvements were Cedar Road, Woodland Avenue, Lockwood Avenue, Park Avenue, South View Avenue, Winyah Avenue, Washington Avenue, Beechwood Avenue, Page Thirteen Anderson Street, Maple Avenue, Locust Avenue, Davis Avenue, Mechanic Street, Cottage Place, Lawn Avenue, William Street, Cliff Street, Eighth Street, Fourth Street, Garden Street, Second Street, River Street, Prospect Street, Quaker Ridge Road, Union Avenue, Charles Street, Division Street, Rose Street, Fifth Avenue, Depot Place, and in fact many other thoroughfares constantly in use, as official reports will show. The building of substantial bridges, constructed of material that would stand the wear of years, was an aim of the administration. The bill suggested by Justice Keogh to enable the City to lease grounds for the establishment of free play places for the school children passed the Legislature, but failed the signature of Gov. Odell. The disappointment of the children explains my personal purchase of the Cowdry property on east Main Street and approving the same to free use as a children's play ground. Among the conspicuous improvements in which it was my pleasure to participate was the change effected in the mode of propelling local surface cars. The substitution of up-to-date electric cars for the ark-like cars drawn by ancient horses, and provid- ing a comfort that should be everlasting. The re- quiring of the New York, New Haven and Hart- ford Railroad Company that heed be given to the wants of their patrons residing in this city. The re- quiring of all corporations to pay back taxes. The consolidation of the several public school districts into one district, and under one government, Page Fourteen proved to be a great advancement; the change in mode of selecting members of the Board of Educa- tion, from the elective to the appointive, proves quite proper and is beneficial, inasmuch as it holds the Mayor responsible, to a considerable degree, for acts of men he appoints to this important office, especially as the Mayor has power of appointment without consent of the Common Council. The preparation for the proper training of the young should be as carefully considered by the Mayor in selecting those to be intrusted with the supervision of our schools, as the Board of Education should be in choosing teachers who are to direct the training of those under their immediate charge. To the selec- tion of suitable persons to form the Board of Educa- tion I gave profound thought and endeavored to secure the co-operation of our best citizens, irre- spective of political affiliations. It was fitness for the duties at hand, rather than politics, that in- fluenced me. I strove to make the Board of Educa- tion non-political. I think I succeeded in this respect, as the two principal political parties were equally divided in that body during the years of my administration. As to the men whose names were suggested for appointment to this responsible posi- tion, I asked as to their qualification, not as to their politics. Doubtless, it might result to the advantage of the City if the responsibility of creating appointive offi- cers were bestowed solely on the Mayor, as that offi- cer, knowing that he alone would be held to account for acts of men chosen, would perform accordingly. Page Fifteen The division of responsibility for appointments re- sults in no particular person being responsible. The work of erecting school houses that tend to make our young city famous was commenced in the first year of the city. I am convinced that money appropriated to increase school facilities is money well spent, as it is to the credit of our people that there has never been stint in this respect. In my official capacity I did what I could to maintain the high standard attained by the local Public Library, acting in conjunction with an ex- cellent Board of Library Trustees. A good library is an important branch of the public educational system. The local Fire Department is admitted to be one of the best in the State. It is gratifying to re- member what was done during the first City admin- istration to start a movement for a modern equip- ment of horses to be housed and ready at call in fire houses, the building of large and handsome fire houses and otherwise increasing the efficiency of this department. As in the case of building new school houses, our taxable citizens were ever ready to assist and never complained when funds were asked on behalf of the Fire Department. As a City it was found necessary to increase the Police Department, that sufficient to patrol the limited boundaries of the village was not adequate to guard increased territory which the City included. Recognizing the efficiency of our local force our citizens have always acquiesced in any expendi- ture having for its purpose the addition of efficiency. Page Sixteen A reorganization of the Board of Health was an assurance of more energetic means toward safe- guarding the health of the city. Establishing better sanitary conditions and enacting a new code of City ordinances to meet new requirements, such as can be intelligently understood and which are practical. The establishing of a bureau for the directing of distribution of poor funds in aid of the deserving poor of the City. Inaugurating a thorough and complete system of Sewerage in all streets possible, and exacting a com- pliance with laws, thus advancing the health standard. Perfecting a system of Street Cleaning that guarantees order and neatness. Succeeding after several years of strife in secur- ing crossings over or under railroad tracks, making possible ready communication between all sections of the City. The establishment of free baths at Hudson Park, where numerous and spacious free bathing houses were built for use by the public. Side and cross walks, constructed of blue stone, took the place of rough planks and muddy soil, laid in answer to petitions of citizens. The construction of attractive paved business streets and the rebuilding of avenues in residential localities, inspired property owners to renew efforts in the development of lands and accordingly valu- ations increased. Beautiful private residential parks were laid out and people from abroad came in large number to dwell therein, thus our City's population Page Seventeen increased rapidly. Our city became known as "The City of Parks." In conclusion I may be permitted to call atten- tion to a few facts, that proved pleasing to our people. The long controversy relative to the price of gas was brought to an end by securing a consider- able concession in favor of local consumers. Cor- porations were compelled, as far as possible, to put wires under ground and get rid of unsightly tall poles that lined our streets. The frustration of attempts of nearby city and towns to dump refuse matter from sewers proposed to empty into Long Island Sound, and ultimate wash- ing of such refuse upon our bathing beaches, was ac- complished after a protracted strife at Albany, by our defeating proposed legislation. That the City's credit be always maintained at the highest standard, I insisted that all obligations of the City be met at maturity and promptly; by so do- ing the good name of the City was upheld and there was ever a ready market and liberal premium at hand when City bonds were offered for sale. What was done in the interest of our City dur- ing my administration, though it might be at my sug- gestion, could not have been accomplished were it not for the aid of the able men associated with me in office, and but for the aid of prominent citizens out of office, whose counsel I ever found wise, re- liable and trustworthy. To these I shall ever owe a debt of gratitude. HONORABLE HENRY S. CLARKE Second Mayor of New Rochelle THE CITY ADMINISTRATION 1902 TO 1907 INCLUSIVE BY THE HON. HENRY S. CLARKE Second Mayor of New Rochelle HAVE received from the citizens of New Rochelle the honor of three successive elections to the office of Mayor, the first term beginning January 1 , 1 902, the last term ending December 31,1 907. At the time of my first election I had been a resident of New Rochelle for thirteen years— long enough and active enough in public affairs to have become greatly attached to the place and to have a firm belief in its future possibilities. We then had a population of about fifteen thou- sand. The section south of the New Haven Rail- road tracks contained very little undeveloped prop- erty, but much of the larger area to the Northward was still open country, awaiting settlement. All through its long town and village history New Rochelle had kept an enviable reputation as an ideal home community. The question whether under new conditions of rapid growth its attractive features would be maintained and the character of its population remain unchanged seemed to me a question for the City Administration to answer. Good streets, walks, and transportation service, all extending to the furthest out-lying districts, ade- Page Twanty-two quate lighting, policing, and fire protection systems, water supply, drainage, sewage, school buildings and educational facilities,— all of these things had to be immediately carried forward on a scale to fit the needs of a city of double the population we then had, because if we were to attract home seekers of means and refinement they must find these improvements already installed, not merely promised for the indefinite future. It was to be the one great object and determined policy of the ad- ministration to direct the inevitable growth of New Rochelle along right lines by making the city attrac- tive to the right kind of people. To carry out that policy meant a more liberal expenditure of money than the citizens had been accustomed to; and it was not to be supposed that its wisdom would be universally conceded. We ex- pected opposition, honest criticism, and partisan de- nunciation- --and we got it. But, at the end of each administration, with results in view, the administra- tion policy was endorsed by increasing majorities of the tax paying-voters. If incidental mistakes were made, it is nevertheless true (and I am certain that the intelligent public will support me in the as- sertion) that the general policy was correct ; that the uniformly high character of all the new residence districts justifies it ; and that the city could not have been so developed, and its character fixed for all time, by any other means. It is not possible in this short article to enter in- to details concerning the six years' work of this ad- ministration, but the more important public improve - Page Twenty-three ments originated and carried forward during the period may be summarized as follows : North Avenue, the most important thorough- fare extending northward from the City center, contained stone curbings and gutters and was mac- adamized as far as Fifth Avenue by our prede- cessors. Between 1 902 and 1 904, the Avenue was completely curbed, guttered, regulated and macad- amized to Cooper's Corners. The tranformation of this avenue gave the first impetus to all that develop- ment of beautiful and valuable property which has since been going on in the northern section of the City. It led immediately to the installation of trolley car service to and beyond the City limits, connect- ing with White Plains, Yonkers and other cities and towns throughout Westchester County. Main Street prior to 1902 had been improved through the business part of the city only. Before the close of 1905 it had been made the splendid thoroughfare we now have- --a creditable highway for the constant pleasure and business traffic through New Rochelle to Pelham and New York on the west and the Sound Shore towns to the eastward. Pelham Road, macadamized from Neptune Avenue to the Pelham line, Cedar Road from Locust Avenue to Echo Avenue, and Echo Avenue to Main Street, completed another beautiful and sub- stantial highway through New Rochelle to the east and west. The foregoing improvements are mentioned first because they were conducted on broad and lib- eral lines and created ready connection not only be- Page Twenty-four tween extreme parts of the City, but with all parts of the county. While these larger works were in progress, a general scheme of street improvement was being carried out. The work done throughout the city cannot here be specified in detail, but the mere naming of the streets that appear in the city records as having been curbed, guttered, opened, graded or macadamized, between 1902 and 1907, indicate something of the magnitude of the operations. These were Huguenot St., Coligni Ave., Centre Ave., Sound View Ave., Clinton Place, Park Ave., Hud- son St., Lafayette Ave., Birch St., Rose St., Cliff St., Franklin St., Howe Ave., River St., William St., Anderson St., Warren St., Crescent Ave., Fifth St., Webster Ave., Mayflower Ave., Horton Ave., Winthrop Ave., Brook St., Sickles Ave., Charles St., Grove Ave., Morris St., Lockwood Ave., Fourth St., St. Johns Place, Madeline Ave., Concord Place, Residence Park (a large section, including many streets not otherwise specified) Lawn Ave., Garden St., Kings Highway, Elm St., Poplar Place, Grove Ave., Spring St., Bonnefoy Place, Beechmont Ave., Cottage Place, Allard Ave., Oak S., John St., Laurel Place, Circuit Road, Meadow Lane, Willow Drive, Liberty Ave., Castle Place, West Castle Place, Hemlock Place, and Parkview Ave. Two of the most important street extensions made during this period were Webster Avenue and Centre Avenue. By means of these two improve- ments new connections were made between the Northern and Southern divisions of the City. The Page Twenty-five extension of Webster Avenue passed under the New Haven railroad tracks, that of Centre Avenue bridged the tracks. The story of difficult negotia- tions with the railroad company, and settlements advantageous to the city is well known and need not be repeated here. An engineering work of unusual importance was carried out in the construction of the Meadow Lane drain, costing $45,000.00, by which that fine section of Residence Park was relieved of the ser- ious inconvenience and menace to health due to frequent overflow of water from the first inadequate drain. Other drains were constructed for the relief of Lafayette Avenue, Bay View Avenue, Sound View Avenue, Clinton Place and Echo Avenue. The indispensable sewer outlet at Echo Bay was constructed at a cost of $95,000.00. A substantial stone dock was built at Hudson Park, and later great improvements made in this handsome public park by the building of new bath- ing houses, pavilion, and sea walls to preserve the bathing beach. The enterprise in which I take the most per- sonal pride and satisfaction- --the work I was so de- sirous of seeing completed while in office that I served the third term in spite of personal inconven- ience and loss— -was the construction of the High School building on North Avenue. The Board of Education, laboring to provide school accommodations for a rapidly increasing population, created at the same time a school system second to no other in the State. Other appointive Page Twenty-six boards performed equally efficient work in their various departments. Although the necessary brevity of this article compels me to use the personal pronoun, and to omit discussion of the work of individuals, I should like to have it understood that the loyal associates of my administration are as much entitled as myself to whatever credit may be due for these six years of progress in New Rochelle. Page Twenty-seven HONORABLE GEORGE G. RAYMOND Present Mayor of New Rochelle Inaugurated January 1, 1908 THE PRESENT AND FUTURE BY THE HON. GEORGE G. RAYMOND Third Mayor of New Rochelle REGARDING the present and future of the City of New Rochelle, or as it is very properly termed "The Queen City of the Sound," I will say that it is one of the many municipalities of this great country of ours in which it is difficult to make predictions owing to the ever increasing growth of its population and the consequent necessity of providing adequate means of caring for the increase and maintaining a high standard as regards facilities for education, physical and moral protection of its citizens, making public improvements and doing everything that will encourage the building of homes and the continuance of the many advantages which we now enjoy in our beautiful city. The problems that arise from time to time are many, and their proper solution is of vast moment and importance. The problems to be solved are not alone those with which municipalities are con- fronted, where the population has become fixed and the limit nearly reached, but in addition to these the necessary and urgent requirements of the future must be taken into consideration so that every im- provement, in any direction, whether large or small, will be only the steady advancement towards a Page Twenty-nine general scheme for the establishment and founda- tion of a great city. Most growing communities have more or less obstacles to overcome as regards natural advantages. This cannot be said of New Rochelle, for I firmly believe that our fair City is as nearly perfect in this respect as any place in the land, and all that is re- quired to develop it and make it possible to keep abreast of the demands of the times is for the people to stand together as one individual to recommend and further everything that will tend to its better- ment and deny that which is apt to work to its disad- vantage. This is the secret of success in municipal growth and prosperity, and without this support, co- operation and interest on the part of all the people all the time, not alone a few with public spirit who are ever watchful and strive to carry the bur- dens of the present and delve into the future for the welfare of the City and seek continuously for means to the end, proper municipal advancement and build- ing up so to speak, is practically impossible. With this co-operation, the solution of the great problems of our times would be a pleasure and much could be accomplished. How often, when visiting other places, we find so much to criticize and how many suggestions occur to our minds as to how the objec- tionable features could have been avoided. Yet, with all this experience, we fail to see our own shortcomings or work together for the purpose of giving our own community the benefit of our thought and experience. A growing community like ours may be likened to an infant inasmuch as it Page Thirty requires careful attention and -watchfulness on the part of those intrusted with its care during the period of growth and development. I have great faith in our City and its people, amongst whom are numbered many who stand pre- eminent in all walks of life, and whose counsel and ad- vice means so much. Therefore, we are well equipped to start in NOW and suggest means by which New Rochelle, in future years, may secure and possess all the advantages necessary to insure its remaining one of the beauty spots of the earth-- -a magnificent City of homes, where all may enjoy peace and happi- ness—and ever retain the title of "The Queen City of the Sound." What suggestions are wise for the attainment of this object is, I assure you, beyond the power of any one person to conceive and can only be determined through the co-operation of many minds. It is un- necessary to enumerate here all those requirements that must be provided from time to time as regards physical and moral protection, safeguarding health and providing liberal opportunity for education, com- fort and convenience to its people, upon which much of our growth depends. One suggestion upon which, I believe, much of the structural growth of the City depends is that of providing a suitable and substantial municipal building for all departments of the City government. It may be too early to dwell at any great length upon this subject, but the men- tion of it will not be amiss. When visiting other cities, I have always been impressed with the dignity and stateliness of municipal buildings and the per- Page Thirty-one sonal pride a community feels in pointing them out to visitors. This matter is one that must be faced within a short time in our own City- --not only as regards necessity, but also owing to the fact that much of the character of the future growth and beauty of the City depends upon it. There is no question but that this project would do much to- ward establishing a high standard in the character of further building operations, especially in the business section, and much depends upon the pre- cedent so created. Of course, projects of this kind naturally require a great deal of discussion and con- sideration, but, in order to secure a suitable site, the matter should soon be taken up. To many outsiders the beauties of our City are unknown, owing to the first impression created by the present conditions as regards the poor station facilities and surroundings. This feature could be obviated in the future by adopting a scheme of beautifying our streets, to be followed out in con- nection with the building of the new station by the New York, New Haven and Hartford Railroad Company, which I have been advised will soon begin. Much has been said regarding consolidation with neighboring cities; but I desire to enter my earnest protest against any move in this direction. It it is deemed wise to expand and acquire territory, let us not lose sight of the fact that it must remain "The City of New Rochelle." Many improvements are needed and many are under consideration at the present time, which we Page Thirty-two hope to complete during this administration. They have been well discussed and only those absolutely necessary were decided upon so as not to entail un- necessary expense or burden to the taxpayers. The fact cannot be disputed, that, with in- creased transit facilities and continuous and joint co- operation of all, it will only be a matter of a few years when the creation of a great city of New Ro- chelle with its magnificent buildings, churches and schools, system of parks, fine streets and avenues and harbors, will be an established fact due princi- pally to the result of early thought on the part of its people. In these days of enlightenment and progress, it is almost impossible to venture an opinion as regards our future growth but having the advantage of healthy location and being so close to the great city of New York, the financial center of the world, and its wonderful business enterprises, the development of our City is assured and to an extent almost im- possible to imagine or predict. Would it not be a great satisfaction to our good Huguenot founders were it possible for them to note the progress and development since the time of the memorable purchase by them of the tract of land now known as "New Rochelle" from John Pell, Esq., for the sum of 1625 shillings sterling ($8,000.00) "and one fatted calf to be delivered annually on the twenty-fourth day of June? " In conclusion let us all hope that our most san- guine predictions as to the future will be realized and, with this end in view, let me again urge upon Page Thirty-three all the necessity of cc-operation and unity of action in all things tending to the welfare of our com- munity. Mj Page Thirty-four TO REPLACE THE OLD CITY HALL THE present City Hall, as intimated in Mayor Raymond's article, is one of the institutions of New Rochelle whose passing away the City contemplates with- out regret. Action to hasten that event may be stimulated by consideration of what might be done with the site on which the present building stands, enlarged by the removal of a number of old and cheap structures now occupying this space. The colored frontispiece shows a modern municipal building with park-like grounds, designed by an eminent archi- tect for the express purpose of placing it before the citizens as a plan perfectly adapted to the site already owned in part by the City of New Rochelle. The original large, framed water- color drawing is on view in the ofEce of The National City Bank. Page Thirty-five THE ANNIVERSARY CELEBRATIONS. THE tenth anniversary of the City's Incorporation, April 26, 1909, was made the occasion of a celebration or- ganized and conducted by Mayor Ray- mond, his associates in office, and com- mittees of eminent citizens. The following month a series of re- ligious and civic exercises were held in commemoration of the two-hundredth anniversary of Trinity Church whose early history is intimately associated with the first years of New Rochelle. In connection with this, on June 12th, the two hundred and twenty-first an- niversary of the landing of the Hugue- nots who settled at New Rochelle in 1 688, was celebrated by a splendid water pag- eant at Echo Bay, the arrival of the Huguenots and their reception by the native Indians taking place at Bonnefoi Point, the scene of the original landing. The following views are incidental to these various celebrations. Page Thirty-six PARADE IN THE TENTH ANNIVERSARY CELEBRATION- Passing the Reviewing Stand I he National City Bank SCENES FROM THE HISTORICAL WATER PAGEANT AT NEW ROCHELLE, JUNE 12, 1908-Landing of the Huguenots, 1 688 -Band of Native (S.wanoy) Indians «*# $ SCENES FROM THE HISTORICAL WATER PAGEANT AT NEW ROCHELLE, JUNE 12th, 1909-Arrival of the Huguenot Ship in New Rochelle Harbor, 1688 PROPERTY AND HEADQUARTERS OF THE HUGUENOT ASSOCIATION OF NEW ROCHELLE— A Huguenot dwelling in the 18th Century; occupied after the Revolutionary War by Thomas Paine; Front and Back Views. HISTORY OF BANKING IN NEW ROCHELLE. BY HENRY M. LESTER HE phenomenal growth of the commer- cial banking of New Rochelle has been accomplished within the past ten years, or since the incorporation of the City in 1899. At that time, there was one commercial banking institution, the Bank of New Rochelle, which, after an existence of eleven years, had on March 30th of that year deposits of about $414,000 and total resources $486,000, while in a report made to the State Banking Department April 28th, 1909, as the New Rochelle Trust Company, the deposits were $2, 1 47,000, and the total resources $2,450,000. In addition, the City Bank, which began its ex- istence in 1 899 and started with nothing, has, as The National City Bank, reached deposits of $2,250,000 and total assets of over $2,750,000, the comparison being : DEPOSITS TOTAL ASSETS 1899 ....$ 414,000.00 $ 486,000.00 1909. 4,397,000.0') 5,200,000.00 Much of this increase is due to the rapid de- velopment of the City, the population having been nearly doubled within the ten years. During the history of New Rochelle, there have been six banking institutions organized. Three Sav- Pagc Forty-two ings Banks- --if we may include the private Savings Bank conducted by Mr. Adrian Iselin for twenty- one years, but which was not under the State banking department---and three Commercial banks. The first bank to be established in New Rochelle was an individual bank and existed for about six or seven years. The following from the New York State Banking Department gives the best informa- tion we have in reference to its organization and what it accomplished : The Bank of New Rochelle was organized as an individual bank in the year 1 844, and it was owned by D. Sayre, of New Rochelle, Westchester County, N.Y. This bank issued circulating notes and deposited State stocks with the Comptroller to secure the redemp- tion of same. "Received July 25, 1844 W. W. Vanzandt Know all men by these presents that I, Dennie Sayre of New Rochelle, in the county of Westchester and State of New York, have constituted and appointed, and do hereby constitute and appoint, Warren Jenkins, gentleman, of the City of New York, my true and lawful attorney for me, and in my name to demand, receive and re- ceipt for all dividends or interest which now is or hereafter may be due to me, or to the Bank of New Rochelle, on stocks which now are, or hereafter may be deposited with the comptroller of the State of New York on behalf of said Bank of New Rochelle, together with all surplus reversions or remainders pertaining to any stocks which now are or hereafter may be deposited with said comptroller, until the amount so received by the said attorney or his representa- tive shall amount in the aggregate to twelve thousand dollars. And I do further hereby expressly authorize and empower my said attor- ney, his heirs, executors and administrators to appoint one or more attorneys under him or them with full power and lawful authority to do and perform all and sundry acts and things which my said attorney might or could lawfully do in the premises, and this power of attorney shall not abate by the death of either party and is hereby Page Forly-lhree declared to be irrevocable. And I hereby ratify and confirm all that my said attorney or any attorney under him may lawfully do in the premises. Witness my hand and seal this 23rd day of July, 1844. Witness, John Deane. Dennie Sayre. " Bank of New Rochelle, August 1, 1844. Hon. A. C. Flagg, Comptroller. Please give to Warren Jenkins, Esq., of New York, a power of attorney to collect the interest on the stocks deposited or which may be deposited hereafter with you on account of the Bank of New Ro- chelle, as I have assigned the same to him for value received. This order is and is to be considered irrevocable. Dennie Sayre, Pres. Bank of New Rochelle." "New York, August 12, 1844. W. W. Vanzandt, Esq., Chief Clerk. Above I hand you an order from D. Sayre, President, for divi- dends on State stock which you will please file in your office. Very respectfully, Warren Jenkins, 51 Wall Street." "New Rochelle, April 24, 1846. Hon. A. C. Flagg, Esq., Comptroller of State of New York. Dear Sir: I have transferred to Statis Barton, Esq., for many years past a citizen and resident of this place, all my right, title and interest in the Bank of New Rochelle, Westchester County, including all its assets, rights, privileges and immunity. You will therefore please make the necessary transfers on your books, and hereafter recognize him as owner of said Bank and pay to him all dividends which may be- come due on the stocks in your hands in trust for said bank. Warren Jenkins." Page Forty-four "State of New York Westchester County: Dennie Sayre of Pound Ridge, in said county, being duly sworn, doth depose and say that he does not own the stock deposited with the Comptroller of the State of New York to secure the issues of the Bank of New Rochelle or any part or portion thereof, and that he has no interest therein except the salary which he receives as president of said bank. May be so considered and further saith not. Dennie Sayre. Sworn this 23rd day of July, 1849, before me, James Huntington, Justice of the Peace." "State of New York ) gg Westchester County: f Statis Barton of New Rochelle in said county, being duly sworn, doth depose and say that he is the sole owner of the stock deposited with the Comptroller of the State of New York, to secure issues of the Bank of New Rochelle in said State of New York, and further saith not. Statis Barton Sworn this 23rd day of July, 1849, before me, James P. Huntington, Justice of the Peace." We cannot find reports of this bank to the comptroller, nor a circulating note issued by the bank. Dennie Sayre was President, and Statis Barton Cashier, for most of the time during which it was in existence. This bank having failed to redeem its circulating notes, according to law, the bonds and mortgages held in trust by the Bank- ing Department were sold at Mechanics Exchange, Albany, on the seventeenth day of December, 1851— and the stocks being passed due, the proceeds, together with the proceeds of the sale of mortgages, were deposited in the Mechanics &, Farmers Bank, Albany, and the New York State Bank, Albany. The notes secured by stocks only, were redeemed at par and a dividend of 8 1 °fo declared on all the notes issued to above named bank, secured by stocks and real estate. Page Forty-five The Bank had its office on Pelham Road, on the site recently occupied by the office of the J. A. Mahlstedt Lumber &h Coal Company, near the en- trance to the property of Mrs. H. A. Noyes. At the time the Bank was in existence, this part of the vil- lage promised to be the future business centre ; the Neptune House, near by, then a well known and popular Hotel, with its stores and steamboat connection with New York City, formed the main activities of business for the town. The second Bank to be organized was the New Rochelle Savings Bank, which occupied quarters on Main Street, at the corner of Church Street, in the building now occupied by the New Rochelle Water Company. The following facts in reference to this institution are supplied by the New York State Banking Department. "The New Rochelle Savings Bank was incor- porated April 24th, 1 865, and the following named persons were the incorporators : John Stephenson A. B. Corwin John A. Devean John D. Comstock Staats Bartow Lawrence D. Huntington Samuel B.Underhill Charles H. Roosevelt William Pinckney George Wilson Thomas H. Fields Robert Jaffrey George J. Penfield "It commenced business January 7th, 1866. On January 1st, 1867, it reported one hundred and five open accounts, and on same date, amount due de- positors was $14,231.50. It failed December 22nd, 1877, and Edward M. Tompkins was appointed re- Page Forty-seven ceiver. Its last examination showed the following condition ASSETS made July, 1877, Bonds and mortgages U. S. bonds, 67 Yonkers City bonds Eastchester town bonds Amt. at par $6,600 1,000 6,500 Furniture Cash in safe Cash with T. L. Disbro, Treas. Cash in National Trust Co. Value 57,227.00 1,050.00 6,500.00 821.88 2,848.00 116.16 Interest accrued LIABILITIES Due depositors Interest accrued est. for July 1st Due National Trust Co. $43,778.83 1,365.00 5.700.00 Surplus INVESTMENTS, Etc. Bonds and mortgages U. S. Bonds Premium on gold int. City and town bonds Amt. at par $30,300 6,600 7.500 CHARGES Int. to depositors and on loan All other charges Deficiency of income Revenue $2,121.00 396.00 19.80 525.00 $2,860.00 325.00 Totals $30,300.00 14,777.00 50.00 3,786.04 2,250.00 $51,163.04 50,843.83 $ 319.21 Totals $3,061.80 3,185.00 "$ 123.20 Page Forty-eight "A committee was appointed by the trustees of the Savings Bank and the depositors in that institu- tion, and they made an investigation of the bank's management for the past five years. It indicated that the bank's funds had been embezzled in each year during that period as follows: In 1873, $20; 1874, $1,090; 1875, $121.88; 1876, $3,268.75; 1877, $6,427.85; total, $10,928.48. The largest theft at one time was $2,500, and the smallest $10. The defaulter, in a letter to the trustee, set down the amount of his defalcation at $12,000. "The receiver reported March, 1880, that the amount due depositors was $59,470. Two dividends had been paid, March, 1878, 40 per cent, and May, 1879, 12 per cent., in all $31,016. A further divi- dend depended on a suit against the trustees. "Benjamin Badeau, of New Rochelle, succeeded Mr. Tompkins, deceased, as the receiver. Receiver Badeau reported January, 1883, that the aggregate amount realized from the assets of the bank to Jan- uary 1, 1883, was $43,456.48, from which two dividends have been declared of 40 and 12 per cent, respectively. The expenses of the receivership to January 1, 1883, were $3,629.73 as follows : To re- ceiver for fees and commissions, $61 1.71 ; to clerks and accountants, $30; to counsel or attorney, $1,- 54 1 .03; other expenses of the receivership, $ 1 ,346.99. The receiver reported that the court had not ex- tended the time for the final closing of the trust, and if he were enabled to pay any further dividend it would be a very small one . The remaining assets of the bank were : Cash, $ 1 ,037.24, and a judg- Page Forty-nine ment of the face value of $ 1 ,400, the real value of which was doubtful. "Receiver Carpenter (who succeeded Mr. Ba- deau) reported in 1 887, as follows : Amount to be paid on account of third dividend of one and one-half per cent, now in course of payment $892.25 Total payments for all expenses of the receivership to the date of this report 291.51 "The assets of the institution were not sufficient for payment of further dividends, and the receiver- ship was finally closed on completion of third dividend. " During the next four years the town had no banking facilities, not even for the accommodation of those who desired to deposit small savings. Mr. Adrian Iselin, with the generosity and liberality for which he was noted, opened an office in the base- ment of the New Rochelle Water Company build- ing for the convenience of those who desired to lay aside sums of money for future necessity. The following facts prepared under the direc- tion of Mr. Columbus O'D. Iselin will explain the plan and scope of this enterprise during the twenty- one years of its existence. "There was no Savings Bank in New Rochelle in 1881, when Mr. Adrian Iselin decided to open an office to receive deposits. It was not a banking in- stitution in the legal meaning of the term, but a private office where, under Mr. Iselin's guarantee, money was received, drawing interest at the rate of three per cent, per annum, payable semi-annually. "The main object was to provide a convenient Page Fifty depositary for the earnings of the working class, and no accounts were taken in excess of $500. The office was only open on Wednesday and Saturday even- ings, from six to nine o'clock. "The office opened on July 1st, 1881; on that evening seventeen accounts were received, aggre- gating $6 1 0.25. The deposits accumulated rapidly, both in number and importance, and the office con- tinued with great success up to 1902, when Mr. Iselin decided to close it after twenty-two years of business. The last account was opened on June 7th, 1902. On that date, there were 3624 open ac- counts, aggregating $325,504.92. "Owing to his advanced years Mr. Iselin wished to be relieved from his personal responsibility; further- more, the banking facilities were greatly improved, and the two New Rochelle business banks had opened savings departments and were paying in- terest on deposits. "At the closing of the office, on July 1st, 1902, the accounts were as follows : Total number of accounts opened July 1, 1881, to July 1,1902 7369 Total number of accounts closed July 1, 1881, to July 1, 1902 4028 Total number of accounts on July 1, 1902 3841 Total amount of deposits July 1, 1881, to July 1, 1902.. $1,843,828.81 Total am't of withdrawals July 1, 1881, to July 1, 1902... 1,527,306.74 Amount to be paid off on July 1st, 1902 $ 816,522.07 In the year 1888 the second commercial bank was organized under the name of the Bank of New Rochelle; although having the same name as the first Page Fifty-one bank referred to the two had no connection, the first having been a semi-private bank, with no capi- tal stock and operating with very little supervision from the State Banking Department. The second Bank of New Rochelle was a well organized institution under the strict and rigid laws of the State of New York, and during the twenty- one years of its existence has had an honorable and successful career under the presidency of Mr. W. W. Bissell, who has been at its head during the entire time. The Bank of New Rochelle opened for busi- ness on September 5th, 1888, with the following Officers and Directors : OFFICERS : WILLIAM W. BISSELL, President GEORGE FERGUSON, Vice-President HENRY H. TODD, Cashier DIRECTORS: William W. Bissell J. A. Grenzebach George Ferguson Edward Lambden W. M. Reynolds Bradford Rhodes A. B, Hudson Alonzo Guest John Q. Underhill A. Mahlstedt James W. Todd S. C. Knapp James Gibson, Jr. The business interests of the town made the es- tablishment of this bank a necessity- --as the business men as well as individuals were compelled to do their banking in Mount Vernon or New York City. The first banking house occupied by this insti- tution was the one story building on Center Avenue, Page Fifty-Two adjoining the Ferguson Building, and until recently occupied by the Woman's Exchange. In 1893 a new banking building was erected on Main Street near Banks Street, and in 1903 this building was en- larged to nearly double the size of the original build- ing, and in 1 907 and 1 908 the premises were trans- formed into the present imposing office building of the New Rochelle Trust Company. The Bank of New Rochelle started with a capital of $30,000 ; this was increasd to $100,000 m 1900. In 1901 the Bank of New Rochelle be- came the New Rochelle Trust Company, and in 1907 the capital was increased to $200,000. The present Officers and Directors are : OFFICERS: WILLIAM W. BISSELL, President ROBERT P. CARPENTER, Vice-President HENRI J. VAN ZELM, Secretary J. A. HUNTINGTON, Ass't Secretary J. MARSHALL PERLEY, Trust Officer DIRECTORS: William W. Bissell Henry D. Phelps Albert W. Mahlstedt Robert P. Carpenter Winfield S. Spencer Henri J. van Zelm Alonzo Guest Thomas S. Drake James Gibson, Jr. J. Addison Young H. E. Colwell Samuel F. Swinburne Edson S. Lott A summary of the statements made by the Bank of New Rochelle to the State Banking De- partment from 1888 to 1902, and by the New Ro- chelle Trust Company from 1902 to May 1st, 1909, wnTbe found at the end of this paper. Page Fifty-three The City Bank, the latest of the Commercial Banks, was organized in the spring of 1899- --the year the City of New Rochelle received its charter —and in honor of the new City it was named the "City Bank." This institution began business in the Crennan Building, Main Street, opposite Lawton Street, on July 10th, 1899, with a capital of $50,000 and a paid in surplus of $5,000. The Officers and Directors at that time were : OFFICERS: HERMAN HENNEBERGER, President CLARENCE S. McCLELLAN, Vice-President GEORGE F. FLANDREAUX, Cashier DIRECTORS: Joseph T. Brown Herbert T. Jennings Alexander B. Crane John F. Lambden Herman Henneberger John W. Lounsbury Thomas R. Hodge Clarence S. McClellan Henry A. Siebrecht Howard R. Ware Edward C. White The City Bank prospered from the first and in 1 902 changed from a State bank to the National System and became The NATIONAL ClTY Bank. The rapidly increasing business soon made its cramped quarters inadequate, necessitating the con- sideration of larger banking rooms, and after many months deliberation, it was decided to build a mod- ern and well equipped building for the exclusive use of the Bank. This was undertaken in the early spring of 1906 and the building was occupied by Page Fifty-four the Bank on September 3rd, 1908. The present Officers and Directors are : OFFICERS: HENRY M. LESTER, President JOSEPH T. BROWN, Vice-President GEORGE F. FLANDREAUX, Cashier GEORGE W. LIPPENCOTT, Ass't Cashier DIRECTORS: John G. Agar Henry M. Lester Joseph T. Brown Clarence S. McClellan Robert C. Fisher Charles Pryer George F. Flandreaux Henry A. Siebrecht John F. Lambden George A. Suter Howard R. Ware A summary of the reserve, deposits, surplus and profits taken from the official statements made to the New York State Banking Department and the Comptroller of the Currency, will be found at the close of this article. The last banking institution organized was the People's Bank for Savings which has now been in existence for three years, having opened for busi- ness on April 9th, 1906, in the New Rochelle Water Company Building on Main Street, in the same room formerly occupied by the New Rochelle Sav- ings Bank and by Mr. Adrian Iselin for his private saving institution. The original Officers and Trust- ees were : OFFICERS: HENRY M. LESTER, President EUGENE LAMBDEN, First Vice-President CHARLES PRYER, Second Vice-President ALFRED L. HAMMETT, Secretary Page Fifty-five TRUSTEES: John Conlon Henry M. Lester George T. Davis Geo. W. Mahlstedt R. Condit Eddy Walter R. Marvin Robert C. Fisher John F. New Geo. F. Flandreaux Charles Pryer Jacob F. Frantz Samuel F. Swinburne William Kirchhoff L. E. Van Etten Eugene Lambden Howard R. Ware John F. Lambden George Watson who all continue to the present time, with the addi- tion of George E. Galgano, John A. Peck and Benja- min Stearns, who were added to the Board about a year after the opening of the Bank, when the num- ber of trustees was increased from eighteen to twenty-one. A little over a year ago it was found necessary to change the location of the Bank and a commo- dious banking room at No. 252 Huguenot Street, corner of Mechanic Street, was secured. The busi- ness of the Bank has been steadily increasing, so that the People's Bank for Savings occupies a unique position among the Savings Banks of Westchester County, standing in the front rank as to increase in deposits and increase in new depositors. COMPARATIVE STATEMENT of WESTCHESTER COUNTY SAVINGS BANKS, FOR YEAR ENDING JANUARY 1, 1909 GAIN OR LOSS IN DEPOSITS: GAIN LOSS 1 People's Bank for Savings, New Rochcllc. $32,036.66 2 Home Savings bank, White Plains $ 18,599.83 3 Union Savings Bank, Mamaroneck 28,451.86 4 Greenburg Savings Bank, Dobbs Ferry. 31,722.63 5 Eastchester Savings Bank, Mt. Vernon.. 42,209.84 6 People's Savings Bank, Yonkers 50,479.60 Page Fifty-six 7 Sing Sing Savings Bank, Ossining 85,324.84 8 Port Chester Savings Bank 1 10,^24.50 9 Yonkers Savings Bank 126,831.64 10 Westchester Co. Savings B'k, Tarrytown 202,574.98 11 Peekskill Savings Bank . . _. 259,972.32 GAIN OR LOSS IN ACCOUNTS GAIN LOSS 1 Home Savings Bank, White Plains 444 2 People's Bank for Savings, New Rochelle . 336 3 Westchester Co. Savings B'k, Tarrytown . 101 4 People's Savings Bank, Yonkers 75 5 Port Chester Savings Bank 29 tf Sing Sing Savings Bank, Ossining 12 7 Union Savings Bank, Mamaroneck 5 8 Greenburg Savings Bank, Dobbs Ferry.- 1 9 Eastchester Savings Bank, Mt. Vernon..- 2 10 Yonkers Savings Bank - 57 1 1 Peekskill Savings Bank 108 On may 1st, 1909, the People's Bank for Sav- ings had on deposit $134,548 and had 1243 active accounts. During the little more than three years of its existence it had received a total of $345,735 and paid out $211,187, and had opened 1897 accounts, of which 654 had been closed. The position of these three banks is unusually strong, and the future points to the probability of their holding the first place among the banking in- stitutions of Westchester County. The following shows the condition of the Na- tional and State Banks and the Trust Companies of Westchester County, made April 28th, 1909, by the simultaneous call of the Comptroller of the Currency and New York State Banking Department. The high position held by the two Commercial Banks of this City is shown in the following tables. Page Fifty-seven if °z c « . 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