Commercial Bank, Providence

“The Commercial Bank was incorporated in January, 1833. Its capital, increasing from $200,000, in 1853 was made a half million, and in 1855 it became a million, which figure has been ever since maintained. For several years it was located at 123 South Main street; about 1845 it was at 143 of the same street, and in 1859 it was at 11 Market Square, where it continued several years. About 1860 it was moved to its present location at 53 Westminster street. It was reorganized as the Commercial National Bank in 1865.

“Its successive presidents have been: Richmond Bullock, up to about 1849; William P. Bullock following, to 1862; William Comstock, 1863 to 1874; Daniel Day, 1874 to 1886; Daniel E. Day, 1886 to the present time. The cashiers have been: David Andrews, up to 1857; S. P. Wardwell, 1858 to 1874; Joshua A. Wilbour, 1874; Henry G. Arnold, 1875 to the present time. The board of directors comprises the following: Daniel E. Day, Andrew Comstock, Eugene W. Mason, Thomas Harris, Amos C. Barstow, Jr., Edward P. Taft, Isaac M. Potter.” — Richard M. Bayles, ed. History of Providence County, Rhode Island, Volume I. New York: W. W. Preston, 1891.

As a national institution, charter #1319, it issued $3,151,340 in banknotes.

After years of heavy losses, the stockholders of the Commercial National Bank voted on May 6, 1903 to put the enterprise in liquidation and have its business interests transferred to the Union Trust Company.