Page 18 - The History of Watertown Savings Bank_Neat

New York Air Brake on Beebee Island 1911

competition with each other (and limited to “The paper and carriage industries were strongly the extension of gas, water and sewer mains
specializing in one or two types of services), the represented on the boards of all these institutions,” throughout the city. In 1910, ornamental electric
bank trustees, even the presidents, could serve on according to a Watertown Daily Times article. street light fixtures had been installed throughout
the boards of more than one bank. While the Watertown Savings Bank was Public Square.
In fact, the first three presidents of Watertown considered to be one of the “younger” banks By that time, the city’s population had grown
Savings Bank (Byron B. Taggart, William W. in the city when it was established in 1893, it to 26,730 residents, an increase from 21,696
Taggart and Albert Bushnell), had served on the grew to become one of the foremost financial recorded in the 1900 census, and 14,724
Watertown National Bank board prior to joining institutions in the region as it prepared to move documented in 1890.
the WSB board of trustees. into the 20th century. The founders were credited
Many of the WSB trustees who followed had with having “proven that their judgment was sound Five banks were already operating in
also been members of other bank boards. It was and that they acted wisely” in establishing the new Watertown when Watertown Saving Bank
actually Byron Taggart who has been credited mutual savings bank, according to the newspaper. opened its doors in 1894.
in historical records with making the motion in The city of Watertown’s steady economic
th
1882 to form the Watertown National Bank, just growth continued into the 20 century as a result Jefferson County Savings Bank
over a decade before he took the leadership role of of many developing industries and businesses. Jefferson County National Bank
Watertown Savings Bank president. Along with that growth came numerous
improvements to the downtown area. National Union Bank
This interwoven fabric of economic and social
structure was reflected in the organization of most The roads through Public Square, along with National Bank and Loan Company
of the banks in Watertown, which shared many of Washington Street and part of Court Street,were Watertown National Bank
the same stockholders, directors and/or officers. paved. Other public improvements included

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