|Fate||Merged with Mechanics and Metals National Bank|
|Successor||Chase National Bank|
|Headquarters||29 Pine Street, New York City, New York, United States|
|George Opdyke, Morris Ketchum, J. Edward Simmons|
The Fourth National Bank of New York was an American bank based in New York City.
The Fourth National Bank of New York was organized in January 1864.At the time of its organization, many, including Secretary of the Treasury Salmon P. Chase, thought that "a bank of large capital should be organized under such favorable auspices as would result in demonstrating the utility of the National Banking System, and would induce banks existing under the State system to take out charters under the National Banking Act." The Fourth National Bank was founded by many of New York's most eminent citizens, including Jay Cooke.
The bank first opened its doors in the "old Government building" at 29 Pine Street. In 1866, however, the bank moved to a six-story white-marble building located at the northeast corner of Nassau and Pine Streets.
In 1893, the capital stock of the bank was $3,200,000; a surplus of $1,350,000; it had net profits of $378,030; and average net deposits of $20,000,000.
In August 1911, interests identified with the Fourth National Bank, took over the Fourteenth Street Bank, which then changed its name to the Security Bank. A few weeks later, the new Security Bank merged with the Nineteenth and Twelfth Ward Banks.In response to the takeover, Cannon testified before Samuel Untermyer during the Pujo Committee money trust hearings in 1911.
In May 1914, the directors of the Fourth National Bank and the Mechanics and Metals National Bank agreed to unite. The Mechanics and Metals National Bank was the result of a 1910 merger between Mechanics National Bank (which was founded in 1810) and the National Copper Bank (which was established in 1907). The Mechanics and Metals Bank offered $200 a share for the stock and the resultant bank had net deposits of approximately $90,000,000. In March 1914 immediately before the merger, the Mechanics and Metals had net deposits of $58,433,000 and Fourth National had net deposits of $33,408,000.
After a number of mergers and acquisitions (including with the Produce Exchange Union in 1920),the Mechanics and Metals National Bank consolidated with the Chase National Bank in 1926.
The first president of the bank was George Opdyke, who had served as mayor of New York City from 1862 to 1863 and whose term in office had just expired before assuming the presidency. The prominent financier Morris Ketchum was Opdyke's successor.The third president was Philo C. Calhoun, a former mayor of Bridgeport, who served over a period of roughly fifteen years. After Calhoun died in 1882, O. D. Baldwin was chosen to fill the presidency. He resigned in January 1888 and was succeeded by J. Edward Simmons, a former president of the New York Stock Exchange. After Simmons' death in 1910, he was succeeded by the bank's vice-president, James Graham Cannon (brother of Henry W. Cannon).
George Opdyke was an entrepreneur and the 76th Mayor of New York City during the American Civil War. The New York City draft riots occurred during his tenure.
Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corporation in 2003.
Morris Ketchum Jesup, was an American banker and philanthropist. He was the president of the American Museum of Natural History.
Manufacturers Hanover Corporation was the bank holding company formed as parent of Manufacturers Hanover Trust Company, a large New York bank formed by a merger in 1961. After 1969, Manufacturers Hanover Trust became a subsidiary of Manufacturers Hanover Corporation. Charles J. Stewart was the company's first president and chairman.
Morris Ketchum was a prominent American banker and financier of the 19th century.
The Corn Exchange Bank was a retail bank founded in 1853 in New York state. Over the years, the company acquired many community banks.
The Manhattan Company was a New York bank and holding company established on September 1, 1799. The company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. It is the oldest of the predecessor institutions that eventually formed the current JPMorgan Chase & Co.
The Chamber of Commerce Building is a commercial building on 65 Liberty Street, between Liberty Place and Broadway, in the Financial District of Manhattan in New York City. Designed by architect James Barnes Baker, the four-story Beaux-Arts building was constructed between 1901 and 1902 as the first headquarters to be built specifically for the Chamber of Commerce of the State of New York.
Morris Abraham Schapiro was an American investment banker and chess master; in the 1950s, he negotiated the mergers of Chase Bank and the Bank of Manhattan and of Chemical Bank and New York Trust Company. His brother was art historian Meyer Schapiro.
The Mechanics and Metals National Bank (MMNB) was a bank in New York City, founded in 1810 as the Mechanics National Bank. In 1910 it merged with National Copper Bank and took the Mechanics and Metals National Bank name. After a number of mergers and acquisitions, in 1926 MMNB consolidated with the Chase National Bank.
The New York Trust Company was a large trust and wholesale-banking business that specialized in servicing large industrial accounts. It merged with the Chemical Corn Exchange Bank and eventually the merged entity became Chemical Bank.
The Pittsburgh Stock Exchange was a large regional stock market located in Pittsburgh, Pennsylvania from November 11, 1864 until closing on August 23, 1974. It was alternatively named the Pittsburgh Coal Exchange starting on May 27, 1870, and the Pittsburgh Oil Exchange on July 21, 1878 with 180 members. On July 25, 1896 the Exchange formally took the name Pittsburgh Stock Exchange though it had been referred to by that name since the spring of 1894. The Exchange, like many modern day exchanges, was forced to close during sharp economic crashes or crises. On December 24, 1969 The Philadelphia-Baltimore-Washington Stock Exchange bought the Pittsburgh Stock Exchange. At its height the exchange traded over 1,200 companies, but by the last trading day in 1974 only Pittsburgh Brewing Company, Williams & Company and Westinghouse remained listed.
Morris Plan Banks were part of a historic banking system in the United States created to assist the middle class in obtaining loans that were often difficult to obtain at traditional banks. They were established by Arthur J. Morris (1881–1973), a lawyer in Norfolk, Virginia, who noticed the difficulty his working clients had in getting loans. The first was started in 1910 in Norfolk, and the second in Atlanta in 1911.
The Cunard Building, also known as the Standard & Poors Building, is a 22-story office building located at 25 Broadway, across from Bowling Green Park in the Financial District of Lower Manhattan in New York City. The Cunard Building was designed in the Italian Renaissance style by Benjamin Wistar Morris, in conjunction with consultants Carrère & Hastings.
The Chatham Phenix National Bank and Trust Company was a bank in New York City connected with the Chatham Phenix Corporation. Its predecessor Chatham and Phenix National Bank was formed in 1911 when Chatham National Bank paid $1,880,000 to absorb the asset of the Phenix National Bank. The bank grew significantly as it absorbed smaller banking institutions, such as Mutual Alliance Trust Company and Century Bank in 1915, at which point Chatham and Phenix National Bank became the "first national bank to operate branches in the same city with the main bank."
Joseph Edward Simmons was an American lawyer and banker who served as president of the New York Stock Exchange, the New York Clearing House and of the New York Chamber of Commerce.
Philo Clark Calhoun was an American industrialist, banker, and politician who served as president of the Fourth National Bank of New York.
The National Bank of Commerce in New York was a national bank headquartered in New York City that merged into the Guaranty Trust Company of New York.
The Mechanics' and Farmers' Bank of Albany was a state and national bank that became a subsidiary of the Bank of New York in 1969.
The Metropolitan Trust Company of the City of New York was a trust company located in New York City that was founded in 1881. The trust company merged with the Chatham and Phenix National Bank in 1925 under the name of the Chatham Phenix National Bank and Trust Company of New York.