COLLECTION GUIDES

1854-1984

Guide to the Collection

Restrictions on Access

The bulk of the Woburn Five Cents Savings Bank records (except for oversize) are stored offsite and must be requested at least one business day in advance. Contact the Library at library@masshist.org or (617) 536-1608 to request materials. Please discuss your request with the reading room staff before requesting cartons by barcode.


Collection Summary

Abstract

This collection consists of the records of the Woburn Five Cents Savings Bank, including minutes of the board of trustee meetings, customer records, and bank history materials.

Historical Sketch

The Woburn Five Cents Savings Bank was founded in 1854, opening its doors for business on June 3rd. Sixty-four accounts were opened on that day with deposits totalling $864.64. Woburn was a thriving community at that time with a population that included mechanics, shopkeepers, manufacturers, and professional men, although many of the town's citizens were employed in its principal industry, leather.

The bank's first location was in Nathan Wyman's store, but it outgrew those quarters within the first year of business. It moved to the store of William Woodbury on Main St. Continual growth necessitated the bank's removal to four more locations until 1888 when the bank erected its own building on its current site. It occupied the second floor of the building until 1912 when the city's post office (it had been incorporated as a city in 1888) moved from the first floor of the bank building to a new post office building.

Although it remained on the same location, the bank outgrew its 1888 building, resulting in the construction of its present structure in 1931. Above the windows are symbolic carvings representing Capital, supported by Prosperity and Wealth; Mechanics, Art and Agriculture, and Industry, supported by figures representing Banking and Recording; and the Beehive of Industry.

The Woburn Five Cents Savings Bank was acquired by the Sterling Bank of Waltham in 1991. In August of 1994, the Sterling Banks were acquired by Fleet Bank.

Sources

100th Anniversary 1854-1954: A Century of Community Service. April 7, 1954, Woburn Five Cents Savings Bank, Woburn, Massachusetts (Boston: L.E. Muran Co.), 1954.

Collection Description

The records of the Woburn Five Cents Savings Bank consist of 57 volumes stored offsite in 17 record cartons and 1 oversize box stored onsite at Ms. N-347. The collection has been arranged into three series: I. Bank records, 1854-1984; II. Customer records, 1854-1906; III. Bank history materials, 1854-1954.

Series I. Bank records contain minutes of the board of trustee meetings, 1854-1984, most including the records of the Committee of Investment and early financial records of the bank, including early account books, 1854-1882, and quarterly audit receipts, 1854-1881. The bank records also include the minutes of the Cambridge University Trust bank, 1926-1973.

Series II. Customer records contain three volumes listing customer names by savings account numbers from 1854 to 1906. Most also list the customer's address and some note family or occupational information. The bulk of the series consists of individual savings account records kept by account number in what appear to be three series (see container list for a detailed volume list), 1854-1906. Carton #17 contains five volumes of alphabetical indexes to the customer records from name to account number.

Series III. Bank history materials contains one folder of miscellaneous historical materials, including the first bank book of J.P. Converse; two copies of 100th Anniversary 1854-1954 ; A Century of Community Service (Woburn, Mass.: Woburn Five Cents Savings Bank, April 7, 1954); an oversize folder containing photographs and drawings by Marjorie A. Kenneally of bank and town scenes used in the pamphlet; and several copies of the dedication edition of Woburn Daily Times, Sept. 21, 1931.

Restrictions on Access

The bulk of the Woburn Five Cents Savings Bank records (except for oversize) are stored offsite and must be requested at least one business day in advance. Contact the Library at library@masshist.org or (617) 536-1608 to request materials. Please discuss your request with the reading room staff before requesting cartons by barcode.

Acquisition Information

The Woburn Five Cents Savings Bank records were the gift of the Sterling Bank, August 1994.

Processing Note

In July 2001, the records were appraised and processed. As a result, the collection was reduced from 47 record cartons to 11 record cartons, 6 XL record cartons, and 1 oversize box.

Minutes of the trustees were kept to the most recent date (1984), while the remainder of the collection was weeded extensively. Detailed financial information can be found only in the customer records and in early bank records. Detailed customer accounts were retained through 1906; this is the date through which there are lists of customer names with demographic information and for which there are alphabetical name indexes.

See the curator of manuscripts for more information.

Detailed Description of the Collection

I. Bank records, 1854-1984

A. Trustees' minutes, 1854-1984

Carton 1SH 12RR G
1. 1854 - 1 July 1877
Carton 1SH 12RR G
2. 9 July 1877 - 4 Oct. 1882
Carton 1SH 12RR G
3. 6 Oct. 1882 - 1 July 1889
Carton 1SH 12RR G
4. 5 July 1889 - Apr. 1903
Carton 1SH 12RR G
5. 3 July 1903 - 31 Dec. 1906
Carton 2SH 12RS H
6. 4 Jan. 1907 - 6 Jan. 1911
Carton 2SH 12RS H
7. 30 June 1911 - 6 Oct. 1916
Carton 2SH 12RS H
8. 5 Jan. 1917 - 22 Nov. 1921
Carton 3SH 12RY N
9. 6 Jan. 1922 - 2 Apr. 1926
Carton 3SH 12RY N
10. 2 July 1926 - 2 Jan. 1931
Carton 3SH 12RY N
11. 3 Apr. 1931 - 5 Oct. 1934
Carton 4SH 12RZ 0
12. 4 Jan. 1935 - 1 Apr. 1938
Carton 4SH 12RZ 0
13. 1 July 1938 - 2 Jan. 1942
Carton 4SH 12RZ 0
14. 4 Apr. 1942 - 6 Apr. 1945
Carton 5SH 12RV K
15. 6 July 1945 - 1 Apr. 1949
Carton 5SH 12RV K
16. 1 July 1949 - 4 Apr. 1952

July 1952 - July 1959 missing

Carton 5SH 12RV K
17. 9 Oct. 1959 - 13 Apr. 1962
Carton 6SH 12RW L
18. 13 July 1962 - 8 Jan. 1965
Carton 6SH 12RW L
19. 9 Apr. 1965 - 14 Apr. 1967
Carton 6SH 12RW L
20. July 1967 - Oct. 1970
Carton 7SH 12RX M
21. 12 Jan. 1927 - 10 Oct. 1972
Carton 7SH 12RX M
22. 9 Jan. 1973 - 8 Jan. 1974
Carton 7SH 12RX M
23. 9 Apr. 1974 - 8 Apr. 1975
Carton 7SH 12RX M
24. 8 July 1975 - 13 Jan. 1976
Carton 8SH 12S1 Y
25. 13 Apr. - 19 Oct. 1976
Carton 8SH 12S1 Y
26. 18 Jan. - 19 July 1977
Carton 8SH 12S1 Y
27. 18 Oct. 1977 - 17 Oct. 1978
Carton 8SH 12S1 Y
28. 30 Jan. 1979 - 16 Oct. 1979
Carton 9SH 12S2 Z
29. 15 Jan. 1980 - 21 July 1981
Carton 9SH 12S2 Z
30. 19 Apr. 1983 - 17 Apr. 1984
Carton 9SH 12S2 Z
31. Cambridge University Trust stockholders' minutes, 1926-1973
Carton 10SH 0106
1. Ledger (interest, depositors, loans, etc.), 1854-1880
Carton 10SH 0106
2. Ledger (cash, deposit, interest, etc.), 1878-1882
Carton 10SH 0106
3. Quarterly audit receipts, 1854-1875
Carton 10SH 0106
4. Quarterly audit receipts, 1876-1881
Carton 10SH 0106
5. Waste book, 1854-1879
Carton 10SH 0106
6. Lists of officers, salary information, building improvements, 1854-1931

II. Customer records, 1854-1906

Carton 11 (XL)SH 0097
A. List of subscribers by account number, 1854-1906

Some names include address, family information, and occupation of the individual account holder.

Carton 11 (XL)SH 0097
1. 1854-1887
Carton 11 (XL)SH 0097
2. 1888-1901
Carton 11 (XL)SH 0097
3. 1901-1906

B. Individual account balances, kept by account number , 1854-1906

See C. Indexes to account numbers below.

Series 1

Carton 12 (XL)SH 0103
#1 - 1519, 1854-1862
Carton 12 (XL)SH 0103
#1 - 1968, 1862-1871
Carton 12 (XL)SH 0103
#1 - 2125, 1871-1880
Carton 13 (XL)SH 0098
#1 - 9815, 1880-1893

Series 2

Carton 13 (XL)SH 0098
#8120 - 9799, 1873-1880
Carton 13 (XL)SH 0098
#9800 - 11,799, 1880-1893
Carton 14 (XL)SH 0099
#11,800 - 13,999, 1884-1900
Carton 14 (XL)SH 0099
#14,000 - 15,999, 1888-1900
Carton 15 (XL)SH 0100
#16,000 - 18,000, 1890-1900
Carton 15 (XL)SH 0100
#18,001 - 20,000, 1893-1906
Carton 15 (XL)SH 0100
#20,001 - 22,000, 1895-1906

Series 3

Carton 16 (XL)SH 0067
#2 - 11,796, 1893-1901
Carton 16 (XL)SH 0067
#3 - 11, 796, 1901-1906

C. Indexes to individual account numbers

Indexes to B. individual accounts above. As with accounts, indexes appear to overlap.

Carton 17SH 12S3 -
5 volumes

III. Bank history materials, 1854-1954

Contains one folder of miscellaneous historical materials, including the first bank book of J.P. Converse; two copies of 100th Anniversary 1854-1954 ; A Century of Community Service (Woburn, Mass.: Woburn Five Cents Savings Bank, April 7, 1954); an oversize folder containing photographs and drawings by Marjorie Keanneally of bank and town scenes used in the pamphlet; and several copies of the dedication edition of Woburn Daily Times, Sept. 21, 1931.

OS Box 1
Stored ONSITE at Ms. N-347

Preferred Citation

Woburn Five Cents Savings Bank records, Massachusetts Historical Society.

Access Terms

This collection is indexed under the following headings in ABIGAIL, the online catalog of the Massachusetts Historical Society. Researchers desiring materials about related persons, organizations, or subjects should search the catalog using these headings.

Persons:

Kenneally, Marjorie A.

Subjects:

Banks and banking--Accounting.
Banks and banking--History.
Banks and banking--Massachusetts--Woburn.
Account books--1854-1906.
Drawings.