Industry | Financial |
---|---|
Fate | Absorbed on September 15, 1931, by the Continental Bank and Trust Company of New York |
Headquarters | |
Key people | C. Howard Marfield (president) |
Services | General commercial, savings bank, and trust business |
The Straus National Bank and Trust Company was a financial institution based in New York City. Founded in In 1928, [1] in 1931 it merged with the Continental Bank and Trust Company in New York. [2]
In 1928 the Straus National Bank and Trust Company was formed, with executives such as H. S. Martin joining from the former S. W. Straus & Co. [1] The company made its first report in January 1929. [3] Founder Simon W. Straus died on September 7, 1930. [4] In December 1930, Straus was replaced as head of Straus National Bank by C. H. Marfield. [5]
On August 3, 1931, it was reported that on September 16, the merger of Continental Bank and Trust Company and Straus National Bank and Trust Company, both of New York, and the acquisition “by the merged bank of the International Trust Company, subject to ratification by stockholders,” would be effective. [6] On September 4, 1931, Straus National stockholders approved the proposal. [2] The consolidation was effective on September 15, 1931, [7] [2] and the merged institution acquired certain assets of the International Trust Company. The Continental in its enlarged form opened the morning of September 16, 1931. Chairman of the consolidated bank was Frederick H. Hornby, who had formerly been president of Continental. President C. Howard Marfield was of Straus National as former president. [7]
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.
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.
The Brooklyn Trust Company was a bank in New York City. Chartered in 1866, the Brooklyn Trust Company originally offered trust management and estate management services but also functioned as a commercial bank. The Brooklyn Trust Company acquired over a dozen smaller banks throughout its existence, merging with the Manufacturers Trust Company in 1950.
The Bank of United States, founded by Joseph S. Marcus in 1913 at 77 Delancey Street in New York City, was a New York City bank that failed in 1931. The bank run on its Bronx branch is said to have started the collapse of banking during the Great Depression.
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 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.
American Fletcher National Bank was an Indianapolis-based bank founded in 1839 that was eventually absorbed by Bank One and later Chase Bank. Since the merger of the Fletcher Trust Company with the American National Bank to form the American Fletcher National Bank and Trust Company at the end of 1954, it had been the largest or the second largest bank in the state of Indiana, often changing places with its Indianapolis-based rival Indiana National Bank for the top spot. From the mid-1950s through the late-1980s, American Fletcher National Bank and Trust, along with Indiana National Bank and Merchants National Bank, was one of the top three largest banks within Indianapolis and its holding company, American Fletcher Corporation, was one of the top three largest bank holding companies within the state, along with INB Financial Corporation and Merchants National Corporation.
Consolidated National Bank of New York was a bank operating in New York City. Also referred to in the press as Consolidated National Bank, the institution was organized on July 1, 1902, with capital of $1 million. Wrote The New York Times, the bank was "founded with the idea of cornering the business of the Consolidated Exchange and its brokers." The bank opened for business at 57 Broadway on September 22, 1902, and a year later the bank took out a five-year lease at the Exchange Court Building. In 1906, the Consolidated Stock Exchange withdrew its deposits with the Consolidated National Bank. In 1909, the bank voted to acquire the assets of Oriental Bank and merge them with Consolidated, creating the National Reserve Bank. The Consolidated name was operative for a short time afterwards.
The National Reserve Bank of the City of New York was a bank in New York City that was formed from a merger of Consolidated National Bank and Oriental Bank in 1909. Deposits of the National Bank Reserve Bank were about $4,352,561 on January 13, 1914 and the bank had "a large number of country bank accounts, chiefly in the West and Southwest," handling a large degree of cotton exchange business. On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, operating for a time as the Reserve Branch of the trust company.
The Mutual Alliance Trust Company was a trust company formed in New York City in 1902, with founders such as Cornelius Vanderbilt III and William Rockefeller.
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."
The Trust Company of America was a large company in New York City. Founded on May 23, 1899 in Albany, New York, its founding president was Ashbel P. Fitch and it was initially located in the Singer Building in Manhattan's Financial District. In 1907 the company absorbed the Colonial Trust Company, a commercial bank. During the Panic of 1907 it was the target of a bank run starting on October 23, 1907, which it survived with the backing of J. Pierpont Morgan and an infusion of gold from the Bank of England and other European sources. The company ultimately represented a consolidation of the North American Trust Company, the former Trust Company of America, the City Trust Company and the Colonial Trust Company. The Trust Company of America was absorbed by the Equitable Trust Company in the spring of 1912.
The North American Trust Company was a trust company based in New York City. It was organized in early 1896. At the start of 1898, the company was located in the American Surety Building at 100 Broadway. On April 3, 1900, the directors of the International Banking and Trust Company and the North American Trust Company unanimously voted to merge the two organizations under the new name the North American Trust Company. Other organizations were acquired in 1901, and in 1905 the City Trust, the North American Trust, and the Trust Company of America merged in what the Times called "the most important trust company consolidation of recent years." The new company was named the Trust Company of America.
The Continental Bank and Trust Company of New York was a financial institution based in New York City, New York, United States. It was established in 1870 as the German-American Bank, which became the Continental Bank of New York. Originally in the Equitable Building at 120 Broadway, the bank was later headquartered at 50 Wall Street, 25 Broad Street, and starting in 1932 the Continental Bank Building It became known as the "brokers bank" for its collaboration with Wall Street brokers and investment banking interests. The institution was renamed the Continental Bank and Trust Company of New York around 1929, at which point it was involved in extending its business with acquisitions of commercial banking and fiduciary operations. Acquired banks included the Fidelity Trust Company in 1929, International Trust Company and Straus National Bank and Trust Company in 1931, and Industrial National Bank later that year. In 1947, the bank earned $804,000 in net profits. As of December 31, 1947, Continental had total resources of $202,000,000, and deposits of $188,000,000. It merged with the Chemical Bank and Trust Company in 1948.
The Straus National Bank and Trust Company was a financial institution based in Chicago, Illinois. It was founded in 1928 out of the Straus Trust Company. In 1933 the bank changed its name from the Straus National Bank and Trust Company to the American National Bank and Trust Company. In 1973, the Walter E. Heller International Corporation acquired the American National Bank and Trust Company of Chicago. As the fifth largest bank in Chicago at the time, American National had assets of $1.3 billion. In 1984 First Chicago Corporation acquired American National Corporation, the bank's holding company, for around $275 million.
The Astor Trust Company was a historic American banking organization. The firm merged with Bankers Trust in 1917.
The Farmers' Loan and Trust Company was a national bank headquartered in New York City that later became Citibank.
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 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.
The Mount Vernon Trust Company, was a bank that operated in Mount Vernon, New York from 1903 until its acquisition by County Trust Company in 1952. It was chartered as a bank on March 5, 1903, and was largest commercial bank in Westchester County, New York.