Bank of the Manhattan Company eBook

This eBook from the Gutenberg Project consists of approximately 6 pages of information about Bank of the Manhattan Company.

From 1853 down to 1880, the Manhattan Company’s deposits averaged between $3,000,000 and $5,000,000.  The deposits doubled during the eighties, again during the nineties, and again in the decade ending 1910.  This growth has been made along healthy and normal lines, and not by absorbing or consolidating with other banking institutions.  The fact that the Manhattan Company is an entirely independent institution has doubtless assisted its growth in recent years.

The steady increase in both the deposits and the surplus of the Manhattan Company is evidence of its vitality, its sound banking traditions and its ability to keep its methods so modernized as to give efficient service to its widening circle of clients.  To meet both its own needs and those of its commercial and banking patrons, well organized credit and foreign exchange departments are maintained.

[Illustration:  Building of the Manhattan Company Wall Street in 1860]

The Manhattan Company, acting as the reserve agent of many State banks and trust companies throughout the country, has a substantial volume of bank deposits.  But it was originally established as an “Office of Discount and Deposit,” and is today primarily a commercial bank, seeking the active accounts of merchants and manufacturers and extending them accommodation in keeping with their credit and standing, for which the diversified character of its deposits has always provided ample funds.

Irving Press 119 and 121 East Thirty-first Street New York

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Bank of the Manhattan Company from Project Gutenberg. Public domain.
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