Norwich Bulletin Newspaper, January 1, 1921, Page 13

$1,214,827,353 TOTAL IN 1920 YEAR JUST CLOSED HAS DEVELOPED BIG VOLUME IN BANKING BUSINESS Resourcss of Strorig Financial Instititions of Nerwich; New thess” plant 1 as ¢ Ln;:ufl with 82“.- m Seavace e Sl 3 : o éfi%fi? J“"“mfi London, Willimantic and Putnam H.aw Furnished the e il B 1, 2871409 S aszome Sinews for Commercial Life in Eastern Connecticut — 18187 461 /885,258 52,308,170 S ofs paads | egests Savings Deposits Increased and National Banks Handled : 2 Heavy, Volume of Transactions. : v et in nu mmg anotier lin - - aging business .gfl' g & 8 ;i 'E’ Bankers generally speak of the year 1920 as a most unusual one In the his- tory of their business, yet a year that ~ 7 of Thee busness, e 3 year that || Total Tramactions of Nor Savings Bank Statistics for Last Decade ||:7 &' w2 52 | oy National Banks for the ,’ . u, TMA IofD ‘.l utthEndofElchYeuin coming to a close with a big velume of ¥ ; Lo ke b B e business ‘trantactions on ' their books Past Ten Years 7~ New London, fliimantic,ed so much of an effect in’the past year n } 1 oney has been at a premium and those and Danielson, with all the sur- | as to redmce the Pgures of the years |1920 wages from $1,143.131 to $565,000 Savings Banks of Windham County Motey: tad botn i & géiem those territory. ingNew London ‘and | manufecturing husiness:. Tower u‘s product’ value from $3,769,600 to counties, were riding on the | point than the year before. . In fact the i 2 The tabulated figures given on this crebt off the wave of big busincss in 1919, | fgures returned from the various in- sq-. tvenq five manufacturing plants Willimantio ' Putnam . Other Towns page showing bank transactions furnish still along by the impetus of the | dustries show something of 4 gain in the, in a. varied line of industries, employing . $1,742412 $5,241,358 || material for comparison with other years. made upon their indus.ries by | aggregate, although there were lines.in| 1,233, phowed wage distribution of $1.- 999, years. The wave carried glong | which ‘there were substantial reductions. Gfl,'lu in 1920 and yndm wvalue of ness commodity have made money. 2,745,795 first hialf of 1920, but sinoe them | but these were more than mede up in| $6,034,750 where' these figures Were re- 1, 2,74 “C:::“l_'llnlmfl YEAR IN | there . hds been a receding tide, that has | other liges. spectively $1,162,000 and $4,495,000 in 963,710 CH BANK TRANSACTIONS put qu.y mills and factories on short-| Cotton ‘mills, paper and beiting, sik|1818. - 2,567,703 ) Norwich banks, savings and national, cut down payrolls and de- | and velvet milis, foundry, from work ana 5,527,526 Dbetter - figures, while”woolen: mi? “pnd 2 6848970 J|along prosperous lines. Their resources, ok b Dusihevs 'has betacsd this| fiocr res. pints it M Lo 4 SHOWN IN NEW LONDON || 1920 Z 3510375 t0o, have been devoted almost exclusively | ya1 of ndustry and anether boom &€ %a of 1919, expected because of the removal eof the New London indicated slackened activi- to Jocal interests and there has been lit- | ngustrial nature to the @ity. - With- | The summary of tusinbds opérations | Marlin-Rockwell firearms factory. ty in jts manufacturing plants in the past V tle occasion to look for outside use for - for 1820 made by The Bulletin from fig- Total payroile i the past year have | Y2T ‘when - total payroll “disbursement drawals of savings accounts have beem their money. - -4 - tires of the manufacturing, banking and | reached $8,922,679 where they were 3%.- showed “at $3,207.250 as compared with ery small and only comparatively 5 - National and savings banks which bonds other 8 dtads in New Loodgn gt Wisa: 85, 240 the vear gefore, bet value of AT i o e B e 2K ! represent over ~ (35,000,000 in banking | securities: have been ofored o mertige es give a grand total for east- | product h.,,"f changed from $41,400,600 in yes was 6.781 and 7,221 respectively. E capital have used these resources for the M«:Lkmt of $1,214,837,353, in 1919 1,19 “to. $40,756,140 in 1820, The report|{ V2lue of product declined as well, stand- ! prices by those Who have lost their em- local commercia! and industrial fleld. figure was §1,184498,678, Which | of total number ioyes nmed from | B at” Iu;‘m 000 in 1943 and $23,359,300 loymen:, Thi tak feating With call money-at the rate of § and 7 | thet: much ,-'.‘,.‘.',.,,,: e h;.‘.,t n broke all former records. In 1918, when| 9,734 in 1319 4o 7,826 in 1920. in 1920, per cent, and possibly in some extfeme |homes and in the proverdial stocking. B’ fiftilme "lirive. ras Dewinfing to-be | T -(ha’ mevoral sottan. watdidt. - ths]. - WuCtocis engaxad T 15om; foundry and . cases at § per cent. The banks have been 3 felt (the figures were §975,244,353, & Teo-| town, émploying about 2.550% the wage | boiler work hiad Fain to record, showing able to extend accommedation to their | , BAnking men here look with-confidence ord up to that time. disbursement in 1919 was $2. $318,000 in wages as against $131,000-the} > toward the future, customers through rediscounting at the New London county furnished n 1920 | product vaiue -$13,070,000. These items| year. before and $460,000 In product as| federal reserve bank and maturally the |, Th Putnam Building and Losn asse- the sem of $913,746,151 to the grand %o-| showed $3.053.400 and. $12.180800 e compared to'$325,000. About 100 hands A banks® customers have paid for this extra | faton, %, which many local people have tal where it had given $864,370,841 In| spetively in 1820. In the “than| were employed. - Machinery and marine " . expense in doing busines. It was a profit- | yooq™ Ty NS 4 T L B e de while Windham coun'y’s business | half dozen wooleh milis with 1,478 em-| work, giving employment to 3,010, had| U Historical Link With Norwich Ne" ~ able year for banks and they have beem |, o' - . 86 130 wan S301,081.403, commparing | ploses. tha ‘ot SRt Tor 1500 stooh] miim ta 1aab. ot SLEH0.000 and product] ” LIAUC ; : N of Nearly a Century|25i% ¥ engthen wir resoarces and re: i oy St .oy $320.127,838 in 1919, at 31,220,000 and production at $6,259,-| value of $19,565,000 in contrast to $4,784. for building purposes, and this money = o ward their clerks with bonuses. The total - | b in; good Imterest \ gemeral it may be stated that cotton | 000, as compared with $1,642,000 end] 000 in wages and.$10,015,000 in product ;ASO—B“lmHl Conducted on Cove Street For 45 Years| transactions of the national banks, which | ** "% - P showed substantially less business | $7,920,000 in 1919. in 1919.. Manufacturers of metal and iron 3 were $302,767.639 in 1919, reached the | Panking conditions here shew the-fun- % ; . " e - s § éamental financial strength of the peepie in 1920 than in 1919, although there were | Silk and velvet mills are another im-|werk products also* showed ~somewhat b; Sldney Ruley and His rge—O rick Kilns | 98ures of $371,255,187 in 1920. ndividual nstances' Whers "gaine were | pormnt line of texilie manutastuces 1n| maller figures: $900000 in wages a0d y Son Geo Id B 78| The lessons of ecomomy and - thrir|°f this territery. S wocien il generath telf oft, | the town, -having_ 000 in product to $1.052.000 in| . No . ot Rl et - N i s | manufac'urers of paper products| 1,085 men and wom:n past year :“a and $2,692,000 in produet In 1919, W Tm'll Dm to Md:e le For Oflnr Bu.nneu. | seem to have continued to bear fruit | DANJELSON BANKS REC . Shiowork tel .,:", but gama | to :-’u:' tm:'y! paid u}.!)s’l{:!fl '1;“;':: They employ about 620: :’_‘;‘fi‘n“b g ‘:;fl'"":"“’;, e YEAR OF GOOD BUSINESS iron worl ! v # # N and velvet were textile lines . in| adct valus was $8,98£563 i 1920, gom-{ . In the textile lines “‘,"""“""d" o p posits during the past vear. - Dividend | , NOtWithstanding generally adverse don- e was & varied record of {n-|paring with $7,260,000 in 1919. business was "':;'.,“n".’& -ll;ll;-o quilt| The old Norwich pottery that once On Edge of the Cove. rates have been maintained at 4 per cent, | ditions during the, past six menths of i tomie | Bufling e o] e il wers 845, T of Horkich nu:tin:n 5 s of $1. 51004 on Cove street makes the picture | The body of water shown in the cales- | Which Norwich bankers look upon as the | 1920, Danielson bankers rounded out the work showed _lesser -figures in | industries- that #how bugindss| bleyes, with payol e Sen.000 52| for The Bulletin's calendar for 1921, a |dar picture was an arm of Yantic cove [8Afe and conservative course, and the | YEaT well satisfied witn ~the . tweive SN just vast. . l "_f:‘:e': ol g o A ;‘“’m""‘i‘;’ mm,gam-qvm $1,830,000. 1n wages and| link with the long ago in the early part of | (ot reached up to thil point and gave |community and the surrounding territory | PR RS SRS L Gl 6 of this lasds,of The Wulle:] $18; Kandk ste" enpioyi wage _q, g lines were spproximately| The old brick kiln on Cove strest, op- | 1oy Lo London, Willimantic and Pamer | 2pplication Tor loans which £ood business | *VeT Passed through financial insti.utions for 1030 was $676,100 where it st the previaus years ficure, employs|posite the foot of North High street.| railroad was bullt, and s suposssor, the |judsment has pronounced _aceeptable. | I that commeaity, as-the big-industrial y 2 SIS I THID: S, D S i ::m hands w:“(?mm‘nefl‘;ehn:mfif 0:.. hieh s sbown on the falesdar, m | New London Northern ratiroad, bougat | When the year 1819 closed the Norwich | Sncemms wers running day and night and s 19 P of 3 - y the older an potte epos! - age HORWICH FACTORIES AND e e e A A e o Suler. Jo"the wie. | idints of Rortion, bt thens witong | 00 Rerer, T e ouEe | T "t he end.of 1930 this. was | the textile ndusry, the prosperity ef MILLS SHOWED SOME GATN |’ Foundry and iren. Wotk: &lse ‘showed | cellaneous classification, wheré industries|many of the later generations who will | year after her husband's deatn. Wiat| $33,290,725.06. which was reflected in all lines of busi- -'uim:j ih n:\;zmn;gflmu in gflngfzr a, gfl:' in_the past year):. e 3 ¢ Jeares B:R:d“l:gm‘:.:l e = g oo Joowa a8 Yobmis - brovk. emp-| Bo fav. 3% the Norwich benkes have b T l"l produc- e yea) b@q (Cent 3 ie B orwi ished into the cove about this point, but [been able to judge, there has beem com n'? 4 L& : % m !:5 y:; m‘u‘: tl;: l:; m: this also has red from view sincé m:l:;fiy f" Norwich peopls who have #0l r Liberty bonds unless-they had Tecards of the town the age. of the postery a . On th trary, seem is established at around 80 to 85 years, |over it. The brook, wmch is now ,.I;:s: 53 h:venhw-ted leeelohnm rflr:‘a‘ goV- and this is confirmed by the recollection | and culvert sewer for almost its entire | ernment securities and the banks have S e A L R e D e B T R i ' Wi eecurit! . new building when when they were boys do:r;o:c'n-:mu‘;nlume::r:gx:nldun“y;:i'cgot:: BT tjows e, U et 8 Sl et 76 years ago. Otls store building on West Main street, | PUTNAM BANKS GAIN IN e el T i KL 2 Foundéd by Sidney Risley. crosses West Main street here and flows STRENGTIIN PAST YEAR | poy geclared 4 aiviteng oy Nytienal For the first 45 years, from the time |30Wn back of the silk mill property 10| The year 1920 was not marked by any | earnings of the past six months, at the the pottery was established by Sidney |Stockwells ane, then turning (o the | unusual event in banking circles in this | rate of § per cent. per annum and in ad. Other Towns Risley, probably about 1836, the name of [1OTth and running down across West | city Up to June mew high records of | dition carried & substantial amoust te - Valuo of Produst || Risiey. ‘tatner and_ son, 'was associated Main street near the West Main street | amount of business being handled con- | surphus. gee Pred with the pottery, but after: the death of |fire Station and into the cove. tinued to be hung up, but the first break | .During the past summer the Breekiyn the son, George L. Risley, who was killed Risley in 1840 Voting List, in the prosperity of the textile industry | Savings bank's deposits reached $3,000, in a boiler explosion at the pottery on the | made jtself only slightly manifést. As|000 for the first time in the history of day before Christmas, 1831, several other | The name of Sidney Risley, a potter, | milis continued to close, however, the ef- | the institution and have continued i proprietors conducted it until 1895, when | 2Pbears in the first Norwich voting list | fect was reflected in the bank transae- | grow, now being well in excess of that g ;.:m bualxlnes:“ "vu :i've:; un.’:t u;:e pruend( l;:hl-he:lio!':\ ::::{nafii“ff";.' ;:“le':;dbe:: tighs, v;h:h ;';:o. b:m ;u:m during flm amount. A big gain also has been made 0 ; me all vestige of the old-pottery an rma s last hall 20 t t T s 2 % £ - Blits brick kilns ri.. disappeared. What | came bh:(re !r';ml iu(n r:fir;?dm a few ':; i :f an during the firs :y u:heb:-nv‘;-:;:mmn:.tk of the Wind. e s 985 was left of the kilns was torn down in |¥ears before that and established the pot- t F rtment offielals 1900 by Charles Slosberg to make place |tery. It was on land belonging to Elijah fa:l-:: o'rn;::o ':?I‘:‘:hovh‘(t! t:: b’:n;n‘: n;.m?vbl'l::n.:h.:n b:'a very for the grain and feed business which he | A- Bill, Who was a grocer-and was also | of the best years in the history of bank- | moderate during the period of depres- Was running on the old pottery site. The |¢ng2ged in various busingss enterprises | ing here, far ahead of most of the nor-| sion, so small, in fact, as to be surpris- old brick was thrown into a hole in the |during his lifetime. The first mention of | ;ma] years before the war. Putnam's|ing, and this is taken as & mubstantial lot and a new building was erected over |3 Pottery on the Cove street site appears | banks have gained in strength during|indication of the real ecash reserve it by Mr. Slosberg, who has one of his 1920 and are in fine condition for then A Iwmhmfl on the old pottery site. (Continued on Last Page, Col. One) year, which will certainly bring a - (Continued o Page Ten, Col. Twe) enea C report a busy year in 1920 and one in - voliime of business but notwith- | metal goods, were lines Which showed | SLACKENED MANUFACTUEING IS B WRIOH they have Resi AMIS 3o e husiuces g (N6 s wondertul incrades in /- Norwich i Value of Product. ~ Wages New London i Value of Product $1.00 Will Open An Account - Prepare for Christmas, 1921 Free Care of Liberty Bonds * Join Chelsea Christmas Club Drafts Issued for All Countries 25c¢, 50c, $1.00, $2.00, $5.00 Per Week Travellers’ Chet‘.ka P Open Saturday Evening, 6:30 to 8:00 NORWICH, CONN. JAMES DANA COIT, Assistant Treasurer