204:. The bank planned to keep the Consolidated name operative until March 1, 1909. On March 2, 1909, Will-tarn O. Allison (W.O. Allison), president of Consolidated National Bank, was voted president of the new National Reserve Bank entity formed by Consolidated's absorption of Oriental Bank's assets. Thomas J. Lewis and R. W. Jones Jr. were elected vice presidents, and George W. Adams, cashier. With the merger of the reorganized Oriental Bank with the Consolidated National Bank of New York, capital was increased from $ 1,000,000 to $ 2,000,000. The National Reserve Bank of the City of New York formally opened its doors for business on March 8, 1909, at "the old banking quarters of the Oriental Bank" at 182 Broadway, corner of
200:
of both banks. A special meeting was called for
February 18 for final ratification by stockholders. On February 18, 1909, the bank stockholders voted to enact the merger proposed by the directors, to take over the assets of Oriental Bank and merge them with Consolidated, creating the National Reserve Bank of the City of New York. The plan increased capital of the bank from $ 1,000,000 to $ 1,200,000. At the same meeting, 23 directors were elected to the new board, including E. A. Fisher and
285:
236:
wrote that "both institutions have a large number of country bank accounts, chiefly in the West and
Southwest, and handle much cotton exchange business." When the National Reserve was liquidated, its stockholders received the value "of the assets exceeding the amount of the deposits and a substantial
199:
ratified a plan to acquire the
Oriental Bank "by allowing its shareholders to subscribe to the shares of a new institution at $ 150 a share." The Oriental Bank had closed the year prior, but had paid its depositors in full. The new institution, to be named the National Reserve Bank, combined aspects
237:
payment for the good will of the institution." Deposits of the merged institutions came to about $ 12,000,000. For a time, the office of the
National Bank Reserve at 165 was continued as the Reserve Branch of the trust company.
245:
On
February 18, 1909, directors were elected to the board of the newly formed National Reserve Bank of the City of New York, resulting in a board totaling Wagar, Nelson G. Ayres, Charles K. Beekman, Samuel Bettle,
170:
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
550:
570:
224:
Deposits of the
National Bank Reserve were about $ 4,352,561 on January 13, 1914. On January 27, 1914, the National Reserve Bank was taken over by the
423:
575:
316:
216:. In late April 1909, the National Reserve Bank, formerly named Consolidated National Bank, opened for business in the City Investing Building.
356:
545:
560:
535:
525:
555:
262:, A. M. Probst, Robert E. Dowling, George L. Gillon, Harry J. Schnell, H. Louderbough, J.H. Parker, Thomas N. Jones, and
530:
540:
387:
229:
225:
179:
164:
102:
232:. The two companies had previously been affiliated and had shared directors. At the time of the merge, the
196:
160:
45:
357:"Mutual Alliance Takes Over Bank; National Reserve Office Will Continue as Branch of Trust Company."
488:
565:
209:
205:
275:
142:
8:
493:
428:
392:
361:
321:
255:
35:
201:
247:
258:, James G. Newcomb, E. A. Fisher, E.R. Chapman, E. Burton Hart, George V. Hagerty,
72:
259:
25:
463:
263:
519:
498:
464:"The Brooklyn Daily Eagle from Brooklyn, New York on March 7, 1909 · Page 12"
433:
366:
326:
251:
153:
122:
76:
68:
290:
213:
178:
On
January 27, 1914, the National Reserve Bank was taken over by the
113:
182:, operating for a time as the Reserve Branch of the trust company.
133:
172:
163:
and
Oriental Bank in 1909 and operated until acquired by the
156:
380:
280:
266:. On March 2, 1909, Hewitt was elected chairman.
517:
311:
309:
307:
150:National Reserve Bank of the City of New York
418:
416:
414:
412:
410:
351:
349:
347:
345:
343:
304:
551:1914 disestablishments in New York (state)
208:in Manhattan, until new facilities at the
571:American companies disestablished in 1914
407:
340:
481:
396:, New York, p. 11, February 3, 1909
458:
456:
454:
452:
450:
576:American companies established in 1909
518:
250:, R. W. Jones Jr., George E. Keeney,
546:1909 establishments in New York City
447:
219:
159:in that was formed from a merger of
13:
190:
14:
587:
283:
388:"Oriental Bank Merger Ratified"
369:, p. 12, January 28, 1914
329:, p. 6, February 19, 1909
1:
561:Mutual Alliance Trust Company
297:
226:Mutual Alliance Trust Company
180:Mutual Alliance Trust Company
165:Mutual Alliance Trust Company
103:Mutual Alliance Trust Company
536:Banks disestablished in 1914
526:Banks based in New York City
501:, p. 27, April 25, 1909
240:
7:
436:, p. 16, March 3, 1909
424:"Allison Heads Bank Merger"
269:
10:
592:
556:Consolidated National Bank
197:Consolidated National Bank
185:
161:Consolidated National Bank
140:
86:January 27, 1914
46:Consolidated National Bank
531:Banks established in 1909
129:
109:
97:
82:
52:
41:
31:
21:
541:History of New York City
141:Not to be confused with
210:City Investing Building
58:; 115 years ago
317:"Oriental Bank Merged"
212:could be completed at
228:, which was based at
195:On February 2, 1909,
17:National Reserve Bank
276:List of bank mergers
175:exchange business.
143:Federal reserve bank
105:on January 27, 1914
18:
494:The New York Times
429:The New York Times
393:The New York Times
362:The New York Times
322:The New York Times
256:William O. Allison
56:March 8, 1909
36:Financial services
16:
489:"Financial Notes"
220:1914: Acquisition
202:Mortimer H. Wagar
139:
138:
48:and Oriental Bank
583:
510:
509:
508:
506:
485:
479:
478:
476:
475:
460:
445:
444:
443:
441:
420:
405:
404:
403:
401:
384:
378:
377:
376:
374:
353:
338:
337:
336:
334:
313:
293:
288:
287:
286:
93:
91:
66:
64:
59:
19:
15:
591:
590:
586:
585:
584:
582:
581:
580:
516:
515:
514:
513:
504:
502:
487:
486:
482:
473:
471:
462:
461:
448:
439:
437:
422:
421:
408:
399:
397:
386:
385:
381:
372:
370:
355:
354:
341:
332:
330:
315:
314:
305:
300:
289:
284:
282:
272:
260:Thomas J. Lewis
243:
222:
193:
191:1909: Formation
188:
146:
125:
119:
89:
87:
62:
60:
57:
26:Private company
12:
11:
5:
589:
579:
578:
573:
568:
566:JPMorgan Chase
563:
558:
553:
548:
543:
538:
533:
528:
512:
511:
480:
468:Newspapers.com
446:
406:
379:
339:
302:
301:
299:
296:
295:
294:
279:
278:
271:
268:
264:Erskine Hewitt
248:Eugene Britton
242:
239:
234:New York Times
230:35 Wall Street
221:
218:
192:
189:
187:
184:
137:
136:
131:
127:
126:
121:
117:
111:
107:
106:
99:
95:
94:
84:
80:
79:
54:
50:
49:
43:
39:
38:
33:
29:
28:
23:
9:
6:
4:
3:
2:
588:
577:
574:
572:
569:
567:
564:
562:
559:
557:
554:
552:
549:
547:
544:
542:
539:
537:
534:
532:
529:
527:
524:
523:
521:
500:
499:New York City
496:
495:
490:
484:
469:
465:
459:
457:
455:
453:
451:
435:
434:New York City
431:
430:
425:
419:
417:
415:
413:
411:
395:
394:
389:
383:
368:
367:New York City
364:
363:
358:
352:
350:
348:
346:
344:
328:
327:New York City
324:
323:
318:
312:
310:
308:
303:
292:
281:
277:
274:
273:
267:
265:
261:
257:
253:
252:Ludwig Nissen
249:
238:
235:
231:
227:
217:
215:
211:
207:
203:
198:
183:
181:
176:
174:
168:
166:
162:
158:
155:
154:New York City
151:
144:
135:
132:
128:
124:
123:United States
118:New York City
115:
112:
108:
104:
100:
96:
85:
81:
78:
77:United States
74:
70:
69:New York City
55:
51:
47:
44:
40:
37:
34:
30:
27:
24:
20:
503:, retrieved
492:
483:
472:. Retrieved
470:. 1909-03-07
467:
438:, retrieved
427:
398:, retrieved
391:
382:
371:, retrieved
360:
331:, retrieved
320:
291:Banks portal
244:
233:
223:
214:165 Broadway
194:
177:
169:
149:
147:
110:Headquarters
101:Acquired by
42:Predecessors
22:Company type
505:January 19,
440:January 19,
400:January 21,
373:January 19,
333:January 19,
206:John Street
520:Categories
474:2017-01-15
298:References
167:in 1914.
90:1914-01-27
63:1909-03-08
241:Directors
114:Manhattan
270:See also
130:Services
73:New York
32:Industry
186:History
134:Banking
88: (
83:Defunct
61: (
53:Founded
173:cotton
152:was a
507:2017
442:2017
402:2017
375:2017
335:2017
157:bank
148:The
98:Fate
67:in
522::
497:,
491:,
466:.
449:^
432:,
426:,
409:^
390:,
365:,
359:,
342:^
325:,
319:,
306:^
254:,
120:,
116:,
75:,
71:,
477:.
145:.
92:)
65:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.