Banks and Finances. In 1919 Worcester had five savings banks with deposits of $100. 000,000; two national banks; two trust com panies and four co-operative banks_ At 1 July 1917 the city had a valuation of more than $187,000,000 with $7,000,000 exempt- This valu ation does not include $15,000,000 intangible personalty taxed directly by the commonwealth The four insurance companies (one life and three fire) have total assets over $56.300,000. with a total surplus of about $5,000,000. The municipal expenditures for maintenance and operation are about $6,500.000. The chief of expense are as follows: schools, $1.200.001); streets, $600,000; fire department, $320,01Xl; police department, $495,000; charity department. $350,000; public library, $82,000.
The government is vested is a mayor, whose term of office is ane year He is the chief executive officer and has ex tensive power of veto over the acts of the board of aldermen and the common council, the former consisting of 11 members, one from each ard and one at large; and the latter of 30 membera three from each ward. The two boards de stitute the city council, who have power as accept ur reject the mayor's appoisipmests The council elects the heads of the degartments History.A settlement was made here m 1673-74. called Quansigamog Plantations. The Indians were hostile to the settlers from the tint; but at the beginning of King Philip's War, their hostility increased and the whites abandoned the settlement. Another attempt to
found a settlement was made in 1684, hut after a few years the Indians forced the whites again to leave. The second time the place was named Worcester on account of Worcester in England having been the home of some of the settlers. In 1713 the permanent settlement was In 172? Worcester was incorporated; and char tered as a city in 1848. Isaac Thomas, a pub lisher, moved from Boston to Worcester in 1775, and until about 1800 the town was among the leading publishing places in the country.
Population. The city ranks second in the State in population which is made up of 50 nationalities. Since 1850 it has grown Beginning with 1800 the Federal census returns have given the following: (1800) 2.411; (1820) 2.962; (1850) 17,049; (1870) 41,405; 1880 58,291 ; (1890) 84,655; (1900) 118,421; (1910) 145.'',96; (1915 State census), 16Z,697; (1919 official estimate), 200000.
Consult Blake, F. E., 'Incidents of the First and Second Settlements of Worcester' (Wor cester 1884) ; Hurd, D. H. 'History of Wor cester County' (ib. 1889); Lincoln and Hersey. 'History of Worcester' (1837-62); Metcalfe. L N., 'Illustrated Business Guide to the City of Worcester' (ib. 1880) O'Flynn, 'School His tory of Worcester' (1910); Nutt. 'History of Worcester and Its People' (1919); Rice. 'Worcester in 1898' (ib. 1899).
umonver or GONSIIIIIMI.