Continuing with the 1985 Record article. The Bank:
Henry commented, "Banking is and was an important part of any community. Watervliet was a small prosperous town because of the paper mill*. In those days 400 people worked there."
The bank was called Parsons and Baldwin. Parsons had died and Warner M. Baldwin was president. In 1914 the bank became the First National Bank of Watervliet. "Can you imagine a bank run by three employees? But run it they did, and very efficiently. Chester Morris was cashier and Uyleau Shimer was assistant cashier. My father was vice-president, but he was a non-operating officer. There were thirty nine shareholders. Among the shareholders were names like Carmody, Geisler, Sherwood and Baker."
He remembered that for every year they owned stock they were paid a 15% dividend. During the Depression President Roosevelt closed all the banks. They could not reopen until they were solvent. Watervliet was one of the first banks in the nation to reopen.
MY NOTE: When I read this article in the Tri-City Record it was the first time I knew that my Grandfather Pratt was involved with the bank. Obviously this would have been after they moved to Watervliet. It is further proof of what a respected family and operation W.M.Pratt & Sons was. I have before me one of their business cards. It says:
It names the partners: W.M.Pratt, C.A.Pratt, B.B.Pratt. The friuts: Strawberries, Cherries, Pears, Peaches, Apples, Grapes. It says"Growers of Fancy Fruits" and "Car Lot Shipments".
Does anyone have any clues as to the origin of the name "Spring Brook"?
* I worked at the paper mill one summer. Mostly shoveling coal out from under coal cars. Got 55 cents an hour.
(emailed Aug. 5)
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