full text File Size: 21 K bytes | Add this to my bookbag

Biography

ORGANIZATIONAL HISTORY

The Brigg's Bank of Clyde, Incorporated in 1856 was a capital stock of about $70,000 with Samuel S. Briggs as President, William H. Coffin as a cashier and principal manager with stockholders including Messers Briggs, Coffin, Redfield, and Ketcham. In 1859 bad debts and losses amounted to nearly $50,000, and Mr. Briggs purchased the interests of others and became sole owner. On January 28, 1860 Aaron Griswold purchased a half-interest, which he retained until the death of Mr. Briggs in September 1865 at the time he sold out to Samuel H. Briggs, Who bought up the remaining interests and sold part to W.H. Palmer. In 1866 the bank*s circulation was called in, its securities in possession of the state redeemed, and it was changed into a private bank under the name of Briggs & Palmer.