With a virtually unanimous vote by the Martha’s Vineyard Chapter, D.A.R., to make the D.A.R. historical building opposite the courthouse at Edgartown available as a home for the Dukes County Savings Bank, the question of a location for the bank seemed fairly well settled this week. The choice must be approved by the incorporators of the new bank at the formal organization meeting to be held early in January.

 

John W. Osborn, speaking for the incorporators, said that the corner location, at the heart of the county seat, is almost ideal. The building, of an old Vineyard type, will be adequate in size, and offers the character sought by many savings banks on the Cape and elsewhere on the mainland. Mr. Osborn is chairman, and Fred H. Chirgwin is clerk, of a committee to look into the desirable alterations and improvements to the building. No exterior changes would be made.

 

It is assumed that the D.A.R. historical collections will be housed at the Dukes County Historical Society property where a fireproof building was recently opened, but no announcement has been made on this score.

 

 

The new bank has received its certificate from the state board of bank incorporation, signed by Timothy J. Donovan, Foster Furcolo, and William A. Schan. The certificate is dated Oct. 28, 1954, and requires that the new bank be incorporated before April 28, 1955.

 

Following the organization meeting, at which officers and trustees will be elected and by-laws adopted, the by-laws must be approved, and the bank will then incorporate and receive its charter. The charter must be issued within thirty days of the organization meeting.

 

The D.A.R. building was once the grocery store of Holmes Smith, and it formerly stood lower down on Main street on part of the site of the Edgartown Hardware store.

 

The number of subscribers or incorporators of the new savings bank has been increased considerable since the project first took form.