The Plymouth Institution for Savings, whose name was changed in 1847 to the Plymouth Savings Bank, and with which Mr. Danforth was for forty-three years identified, was incorporated June 11, 1828, and on the 25th of July Barnabas Hedge was chosen President, and Benjamin Marston Watson, Treasurer. On the first of August, 1829, the same officers were chosen, but Mr. Watson declining, Mr. Danforth was chosen in his place. The place of business of the bank was at first in the Plymouth Bank on Court street, and as its annual meetings were held in various places, sometimes at the Plymouth Bank, sometimes in the reading room, and again at the Old Colony Bank—it is difficult to locate for some years its actual resting place. I am quite sure, however, that for a time its office was in the room on Main street, in which John S. Hayward had kept a store where H. H. Cole is now in business. The Old Colony Insurance Company was incorporated March 6, 1835, with a capital of $50,000, and organized with Jacob Covington, president, and Mr. Danforth secretary, and shared an office with the savings institution. On the 2d of June, 1841, the institution for savings jointly with the Plymouth Bank, the Old Colony Bank, and the Old Colony Insurance Company, bought of Thomas and William Jackson a vacant lot on Main street, and erected a building into which those institutions moved in 1842. Mr. Danforth retired from the office of secretary of the Insurance Company in 1853, and subsequently its charter was surrendered. At the time of the establishment of the Savings Bank, such institutions were comparatively new and general confidence in their soundness had not been established. Facilities for reaching Plymouth were imperfect, and consequently the early growth of the bank was slow. The custom of hoarding, however, was soon abandoned, and the integrity of Mr. Danforth, and his discreet management of the Bank soon attracted a rapidly increasing business. Its deposits, which at the end of five years, had only reached one hundred thousand dollars, amounted according to the last statement made by Mr. Danforth in December, 1871, to $1,759,189.97, while since that time about three-quarters of a million have been added.