Plymouth memories of an octogenarianDavis, William T. (William Thomas)
History
Plymouth memories of an octogenarian
Davis, William T. (William Thomas)
Plymouth (Mass.) -- History
Mr. Spooner was a tender hearted man, especially towards his workmen
and their families. An instance of his tender feelings once came
under my own observation. The Cordage Company did their banking
business in Boston, discounting once a month at the Old Colony Bank
a note to obtain bills for the monthly pay roll. During one of the
financial panics when money was almost impossible to obtain, he came
one day into the Plymouth Bank in despair. He said that he could
not get a dollar in the Old Colony Bank, and Mr. Dodd, his Boston
director, could not obtain a dollar in Boston. He had put off the
settlement of his payroll two or three times, and he was afraid to
go home and meet the disappointed looks of his men, whose families
were in absolute need of their wages. As he said this, I noticed the
tears trickling down his cheeks. It so happened, either by good luck
or good lookout, we had for some time been confining our discounts to
short paper, and our maturities were keeping us well supplied with
funds. We gave him the money, charging him only 7 per cent, while as
the following incident will show, money was worth more than double
that rate. A day or two afterwards I met on Water street, Boston, the
President and Treasurer of a large manufacturing concern in Taunton,
who asked me if I would let him have ten thousand dollars. I told him
that I would, and should charge him for it on a four months’ note,
fifteen per cent. He turned on his heel and left me. An hour after
I met him in the National Bank of Redemption, and he asked me if my
offer held good. I told him it did, and the loan was made then and
there.
Mr. Spooner married in 1813, Hannah, daughter of Amasa and Sarah
(Taylor) Bartlett, and died July 21, 1870.
Public-domain text, read in full here on John Shaqi.
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