1832-1861; bulk: 1832-1845
Guide to the Collection
Abstract
This collection consists of the records of Phoenix Bank (Charlestown, Mass.), including minutes of meetings, stock certificates and transfers, cashbooks, balance sheets, collection records, correspondence, and other papers.
Historical Sketch
Phoenix Bank of Charlestown, Mass. was capitalized on 1 Nov. 1832 at $150,000 with the issuance of 1,500 shares of stock at $100 each. There were 162 stock subscribers at the outset, 137 of whom were present at the first board of directors election, which was held on 28 Feb. 1832. At this meeting, Nathan Pratt, Charles Thompson, William Gordon, E. P. Mackintire, and Jonathan Bridge were elected as directors; William Wyman was elected cashier and secretary of the board; and Benjamin Thompson was elected president.
On 6 Oct. 1836, the capital stock of the bank was increased by $150,000 to a total of $300,000. At that time, William Wyman was elected president; Thomas Brown, Jr., cashier; and James Hunnewell, George Bates, Alijah Thompson, John Hurd, Jonathan Bridge, Jr., Nathan Pratt, Isaac Fiske, and E. P. Mackintire were chosen as the new directors.
Little is known about the important figures of the Phoenix Bank, with the exception of James Hunnewell (1794-1869), who was chosen as the bank's last president on 4 Oct. 1842. Born in Charlestown to substantial New England farmers, James had traveled widely as a youth and arrived in China as a sailor by 1815. Soon he had established a successful shipping network with an office in Honolulu, which evolved into the commercial house of C. Brewer & Company. In 1830, Hunnewell retired to Charlestown, turning his energies to such projects as the Phoenix Bank.
On 8 Oct. 1842, William Wyman, former president, and Thomas Brown, Jr., former cashier, along with William H. Skinner of the firm of Stanley, Reed & Co., were arrested for the embezzlement of $300,000, the whole capital of the bank. The case went to the Middlesex County Court of Common Pleas twice in 1843, where Brown was acquitted and Wyman was convicted, but Wyman's conviction was overturned in 1845.
The Office of the Sheriff issued an injunction to cease operations on 4 Apr. 1843, and the charter of the Phoenix Bank was repealed on 17 Jan. 1845.
List of Major Shareholders at the Bank's Capitalization, 1 Nov. 1832
| Twenty shares each | Over twenty shares (number held) |
| John Burroughs (Boston) | Jonathan Buffington (Boston), 50 |
| Archibald Babcock (Charlestown) | Charles Carter (Woburn), 30 |
| Robert Calder (Charlestown) | James Hunnewell (Charlestown), 52 |
| Isaac Fiske (Weston) | Nathan Pratt (Charlestown), 40 |
| Luther Foote (Boston) | Caleb Peirce (Charlestown), 25 |
| Parson Perrin (Boston) | Nathan Tufts (Charlestown), 25 |
| John Skinner (Charlestown) | Ebenezer Thorndike (Lynn), 30 |
| Shadrach Varney (Charlestown) | Benjamin L. Thompson (Charlestown), 50 |
| Henry Van Voorhis (Malden) | William Wyman (Charlestown), 40 |
Collection Description
The records of the Phoenix Bank (Charlestown, Mass.) consist of 20 volumes of business records and letters and five archival boxes of loose papers. Included is probably all important documentation of the bank's history, such as minutes of directors' and stockholders' meetings, stock certificates and transfers, cashbooks, balance sheets, dividends, interest accounts, construction and operating expenses, business correspondence, etc. Loose papers include general business correspondence, bills, receipts, promissory notes, stock transfers, discounting requests, note renewal requests, job applications and recommendations, abstracts of particular accounts, and correspondence between bank officials and between the bank and its patrons, other banks, the governor's office, the Secretary of the Treasury, etc. Box 5 contains loose stock certificates, 1832-1842.
Subjects of correspondence include the incorporation and construction of the bank, specie payments, the New England Association for the Detection of Counterfeiters, the Western Railroad, and the Commonwealth v. Wyman, Brown, and Skinner embezzlement case. Correspondence throughout the bank's receivership period continues until 1857.
Detailed Description of the Collection
I. Volumes, 1832-1861
Directors Records A, 2 Apr. 1832-9 Jan. 1845
Showing minutes of directors' meetings (with election results), accounts with other banks, and other information of use to directors only.
Records A, 28 Mar. 1832-7 Oct. 1844
Records of stockholders' meetings with first meeting and the Act to Incorporate.
Stock certificates #1-387, 1 Nov. 1832-5 Oct. 1836
Stock certificates #73-387, 11 Mar. 1832-10 May 1836
Stock certificates #313-499, 27 Aug. 1839-22 Sep. 1842
Stock transfers, 11 Oct. 1836-31 Mar. 1842
Stock transfers, 6 Apr. 1842-9 May 1842
Dividends #1-19, 1 Apr. 1833-1 Oct. 1842
Showing individual recipients and amounts received.
Signatures, undated
Alphabetically tab-indexed book including only signatures.
Index, undated
Alphabetically thumb-indexed; shows names with account or page numbers.
Index, undated
Alphabetically thumb-indexed; shows names with account or page numbers.
Index, undated
Alphabetical; lists only five accounts with account or page numbers.
Index, undated
Alphabetically thumb-indexed; shows names with account or page numbers.
Stock Journal A, 1 Nov. 1832-25 Apr. 1835
Showing original holders, amounts held, and transfers.
Stock Ledger A, 1 Nov. 1832-22 Sep. 1842
Showing accounts by individuals.
Cash, Mar. 1859-May 1861
Trial balances showing debits and credits (pages 59-146 missing).
State of the Bank A, 11 Oct. 1832-11 Nov. 1839
Showing balance sheet for every Monday and Thursday.
Collection Records, 15 Sep. 1841-30 Sep. 1842
Record of bills and notes received for collection by the Phoenix Bank, #807-903.
Letters A, 8 Sep. 1832-30 Dec. 1842
Hand-copied business letters.
Business letters, 5 Oct. 1836-27 June 1840
II. Loose papers, 1832-1857
Arranged chronologically.
Jan.-June 1832
Including list of original stockholders; Act to Incorporate; board of directors election, 28 Feb. 1832; correspondence concerning the purchase of a site for the bank.
July-Dec. 1832
Including correspondence regarding cashier and directorship posts, governor's inspection of specie holdings, New England Association Against Counterfeiters (NEAAC).
July-Dec. 1832
Including expenses pertaining to the construction and supply of the bank.
July-Dec. 1832
Including expenses pertaining to the construction and supply of the bank.
July-Dec. 1832
Including expenses pertaining to the construction and supply of the bank.
Jan.-Mar. 1833
Including balance sheet; correspondence concerning counterfeiting and wages.
Apr.-June 1833
Including correspondence regarding clerk position; tax receipt.
July-Sep. 1833
Including correspondence on Cambridge Bank meeting, Piscataqua Bank robbery.
Oct. 1833
Including dividend payment notes; directors' election, 7 Oct. 1833; tax receipt.
Nov. 1833
Including clerk position applications.
Dec. 1833
Including NEAAC circular.
Jan. 1834
Including correspondence with Suffolk Bank.
Feb.-Mar. 1834
Including Treasury Department circular.
Apr.-May 1834
Including town and county taxes; assistant clerk applications; Suffolk Bank circular.
June-Aug. 1834
Including bank robbery notices.
Sep. 1834
Oct. 1834
Including directors' election, 6 Oct. 1844; semi-annual tax.
Nov.-Dec. 1834
Including employment applications.
Jan.-Feb. 1835
Mar. 1835
Including Committee of the Association of Banks Against Counterfeiters (CABAC) circular.
Apr. 1835
Including assistant clerk applications.
May-Aug. 1835
Including tellership applications; clerk hired; town and county taxes.
Sep.-Oct. 1835
Nov.-Dec. 1835
Including CABAC meeting held.
Jan.-Mar. 1836
Including act to increase capital stock by $150,000; notes of the Bank of the United States no longer accepted.
Apr. 1836
Including correspondence with Secretary of the Treasury.
May 1836
Including town and county taxes; teller appointed.
June 1836
Including list of shareholders; bank to become depositor of public funds.
July 1836
Including correspondence regarding the bank becoming a public depositor.
Aug. 1836
Including bank becomes depositor, receives two transfers of $50,000.
Sep. 1836
Oct. 1836
Including directors' election, 3 Oct. 1836; tax receipt.
Nov. 1836
Dec. 1836
Including applications for clerk position; weekly abstract of U.S. deposits, Oct.-Dec. 1836.
Jan. 1837
Including correspondence with several banks; New England Association for the Detection of Counterfeiters (NEADC) circular.
Feb. 1837
Mar. 1837
Including abstract of U.S. deposits, Jan.-Mar. 1837.
Apr. 1837
May 1837
Including specie payments suspended.
June 1837
Including abstract of U.S. deposits, Apr.-June 1837.
July 1837
Including balance of Treasury withdrawals.
Aug.-Sep. 1837
Oct. 1837
Including state tax receipt.
Nov. 1837
Including Treasury Department directions for note payments.
Dec. 1837
Including abstract of Treasury notes.
Jan. 1838
Feb. 1838
Mar. 1838
Including assistant clerk applications.
Apr. 1838
May 1838
Including Massachusetts banking circulars.
June 1838
July-Sep. 1838
Including town taxes; robbery notice; Board of Commissioners meeting; cash balance, 1 Sep. 1838; Bank of U.S. of New York formed.
Oct. 1838
Nov. 1838
Dec. 1838
Jan. 1839
Including Treasury Department of Phoenix Bank deposit.
Feb. 1839
Mar. 1839
1-5 Apr. 1839
6-30 Apr. 1839
Including Massachusetts tax.
May 1839
June 1839
Including May-June 1839 financial reconciliation with the Manhattan Company.
July 1839
Including correspondence with the Manhattan Company.
Aug. 1839
Sep. 1839
Oct. 1839
Including Manhattan Company account, Aug.-Oct. 1839; correspondence with American Exchange Bank.
Nov. 1839
Dec. 1839
Including Manhattan Company account, Oct.-Dec. 1839; bank commissioner request for Aug.-Sep. 1839 data.
Jan. 1840
Feb. 1840
Mar. 1840
1-10 Apr. 1840
11-28 Apr. 1840
May 1840
June-July 1840
Aug. 1840
Including town and country taxes.
Sep. 1840
Including five stockholders' proxies.
Oct. 1840
Including assistant clerk applications; Massachusetts tax; clerk resignation.
Nov. 1840
Dec. 1840
Jan. 1841
Feb. 1841
Mar. 1841
Including U.S. Treasury to remit $135,000 for Secretary of Navy requisition.
Apr. 1841
May 1841
June 1841
July 1841
Including town and county tax; bank robbery notice.
Aug. 1841
Sep. 1841
Including amount of notes.
Oct. 1841
Including record of directors' election.
Nov. 1841
Dec. 1841
Jan.-Feb. 1842
Mar. 1842
Apr.-May 1842
Including amount of notes; Treasury loan to pay part of Western Railroad financing.
June-July 1842
Aug. 1842
Sep. 1842
Including collateral notes; list of stockholders; memo at the examination of the bank.
1-4 Oct. 1842
Including "Stock of Demand Notes"; list of specie in the vault; bank statement; minutes of directors' meeting; collection notes; estimate of cash fund; collection notes; Hunnewell resignation as president.
5-27 Oct. 1842
Including stockholders' request of meeting; specie in vault list; collateral lists of several officers.
Nov.-Dec. 1842
Including list of bills destroyed by 22 Nov. 1842 fire; schedule of bills on hand.
1843
Including sheriff injunction to cease operations, 4 Apr. 1843; Hunnewell court subpoena, 7 Aug. 1843; Phoenix Bank receivers' statement, 12 Aug. 1843; minutes of Commonwealth v. Wyman, Brown, and Skinner for embezzlement, Oct. 1843.
1844
Including new cashier elected, Mar. 1844; trial balance, 24 Mar. 1844; receivers list, Oct. 1844.
1845
Including Phoenix Bank charter repealed, 17 Jan. 1845; Hunnewell authorized to look after books.
1846-1848
Including further directors' meetings.
1849
Including correspondence.
There is no Folder 15 in this box.
1850-1857
Including correspondence regarding settlements.
Undated
Including stockholders' by-laws; directors' articles and by-laws.
Miscellaneous dates
Including Hunnewell expense books; American Exchange, Shawmut, Bunker Hill accounts.
Miscellaneous dates
Miscellaneous dates
Including interest accounts (only) showing notes, periods, due dates, interest earned.
1832-1836
Including stock certificates.
1836-1837
Including stock certificates.
1838-1839
Including stock certificates.
1840-1842
Including stock certificates.
Preferred Citation
Phoenix Bank (Charlestown, Mass.) 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.