Banks and Politics in America

The History of Money

Park National Bank.

Building Occupied by the Park National Bank
Building Occupied by the Park National Bank, Holyoke.

        The Park National Bank of Holyoke is the youngest institution of the kind in the city, having been organized February 20, 1892, and opened for business March 8. The bank’s quarterly statement of September 30 last shows that it has been signally successful, a dividend of six per cent. hAving been paid on the capital for the first six months, which gives the bank rank with only five or six similar institutions in the State. The Park National began business with a capital of $100,000 and a paid in surplus of $50,000, and its centrally located quarters on High street, near the City Hall, show in the engraving herewith. They are on the first floor and handsomely fitted up with every requisite for carrying on banking business.

E.L. Munn, President, Park Bank
E.L. Munn, President, Park Bank.

The officers of the institution are as follows: President, E.L. Munn; vice-president, Wm. F. Whiting; cashier, George W. Parker; directors, Josephus Crafts of Northampton; M.M. Belding, Jr., New York; Wm. H. Brooks, Holyoke; Wm. F. Whiting, Holyoke; Jas. T. Abbe, Springfield; H.D. Bradburn, Holyoke; E.L. Munn, Holyoke.
        The E.L. Munn, the president of the Park bank, has the rather unusual distinction of being organizer of three national banks. He is a native of Greenfield, being born there March 4, 1854. He entered the Franklin County bank in that town in 1869, and served therein as bookkeeper and teller about seven years. In 1876 he became cashier of the Conway bank and remained there two years. In 1878 he came to Holyoke and organized the City National Bank, taking the position of cashier, which he held four and a half years. In March, 1884, he organized the Home National Bank of Holyoke and held the position of cashier eight years, leaving that to organize the Park bank, as already narrated. Following is a statement of September 30 last:

U.S. 4 per cent Bds.
Due from Banks
Due from U.S. Treas.
Due from Reserve Agts.
Cash and Cash Items
Capital Stock
Surplus Fund
Due to Banks


Odd Fellow Fraternal Accident Association.

Building Occupied by Odd Fellows' Fraternal Accident Association

Building Occupied by Odd Fellows’ Fraternal Accident Association at Westfield.

        The accompanying cut represents the home office of the Odd Fellows’ Fraternal Accident Association of Westfield, Mass., the pioneer and leader of all purely accident associations of the world, which confine their membership to any particular Order or Fraternity; obtaining its charter from the State under date of April 12, 1887, its progress from that date has been steadily onward and upward. Its success has excited the admiration and envy of many would-be imitators, but it has steadily and unwaveringly maintained its enviable position as the acknowledged head of all institutions of a similar character, having long ago, by its conservative yet liberal management and honorable business methods established for itself the fitting cognomen of "The Old Reliable."
        Guided, since organization, by the clear head, careful hand and keen business ability of H.N. Kingsbury, its secretary and treasurer, as well as business manager, whose brain conceived and carried into successful execution this then new idea relative to accident insurance; it stands to-day pre-eminently at the head and is recognized as such.

Bay State Beneficiary Association.

        The above named association was founded upon principles "as solid as Plymouth Rock," June 2, 1881, its object being to furnish its members with reliable insurance at a moderate rate of expense.
        The association started in a modest way, and although forced to meet with bitter opposition from all sides at the outset, it has, by push and perseverance, succeeded to such an extent that it has silenced all criticisms and now bears the proud distinction of being the third larges of all the regular national premium companies of the country.
        The "Quality not quantity" has been their motto from the first. They have been unusually careful in selecting their business, until now they have a membership composed of more representative business and professional men than is to be found with any other company. It is an honor to Westfield that such a thoughtful and well-posted body of men should show their confidence in providing for their families by placing their insurance with an association organized within her limits. The officers are John R. Reed, President; J.W. Colton, vice-pres.; R.W. Parks, sec.; H.L. Parks, asst. sec.; H. Hooker, treas.; C.M. Goodnow, asst. treas.; H. Gamwell, M.D., medical director.
        The following record speaks for itself: Certificates written, over 25,000; losses paid, over $3,000,000.00; insurance in force, over $5,000,000.00; emergency fund, over $200,000.00.

Home of the Bay State Beneficiary Association
Home of the Bay State Beneficiary Association, Westfield.

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