The building at 138 Bank Street in New London was erected in 1840 as residence and has since been significantly remodeled for retail businesses. The Greek Revival-style house was built by Franklin Smith, a whaling captain. As related by Frances Manwaring Caulkins in the History of New London (1860), Capt. Franklin Smith
made the most successful series of voyages, to be found in the whaling annals of the port, and probably of the world! In seven voyages to the South Atlantic, in the employ of N. and W. W. Billings, and accomplished in seven successive years, from 1831 to 1837, inclusive—one in the Flora, one in the Julius Cesar, and five in the Tuscarora-—-he brought home 16,154 barrels of whale, 1,147 of sperm. This may be regarded as a brilliant exhibition of combined good fortune and skill. Two subsequent voyages made by him in the Chelsea, were also crowned with signal success. These nine voyages were accomplished between June, 1830, and August, 1841.
Capt. Smith was accompanied by his wife on four four of his voyages and his only daughter was named Chelsea after the ship on which she was born while at sea. In 1842 Smith became a partner in the whaling firm of Perkins & Smith.
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