-Caveat Lector- from: http://www.bankofny.com/about/ahst.htm <A HREF="http://www.bankofny.com/about/ahst.htm">The Bank of New York - About The Bank of New Yo </A> ----- History of The Bank of New York On February 23, 1784, a small advertisement appeared in The New York Packet, calling on the "Gentlemen of this City to establish a BANK on liberal principles, the stock to consist of specie only." At a meeting held at the Merchant�s Coffee House the next evening, prominent New York citizens launched The Bank of New York. Alexander Hamilton was enlisted to write the new Bank�s constitution and we opened for business at the Walton House on June 9, 1784. It is rare for an American business or institution to be over 200 years old. The Bank is not only the oldest in New York by some 15 years, but one of the oldest banks in the world, since banking in the form we know it today was just beginning to emerge in the second half of the 18th century. Alexander Hamilton, a prominent New York attorney, went on to become the Secretary of the Treasury in George Washington�s first cabinet. In 1789, almost immediately upon assuming his official duties, Hamilton negotiated the first loan obtained by the new government. The amount was $200,000, issued by The Bank of New York, against which the Treasury drew a series of warrants on the Bank. These warrants were a milestone in establishing the credit of the United States government and the economic independence of the young nation. In 1792 the New York Stock Exchange was formed and the first corporate stock to be traded was The Bank of New York. Also in that year, the Bank loaned money to the Society for Establishing Useful Manufactures to assist in carrying out plans for building factories in Paterson, New Jersey. This loan was the beginning of the Bank�s support of economic growth in the New York metropolitan area. The Bank was intimately involved with the growth of transportation as well. The construction of the Morris Canal in New Jersey and the Erie Canal in New York were partially funded by the Bank, which also provided financing to the steamboat companies that benefited from these waterways. Trust powers granted to the Bank in the 1830�s gave us new areas in which to grow and enabled us to build the fine reputation we have had in trust and investment management for over 160 years. In 1853 the Bank participated in the establishment of the New York Clearing House and then became its home in 1858. The beginning of the new industrial age coincided with the Bank�s Centenary in 1884. Through investments in nearly every railroad and utility, as well as in the construction of the New York City subway system, we continued to provide vital capital to the expanding American economy. However, far more emphasis was given to conservative practices and retaining the confidence of our customers. That policy enabled the Bank to survive the economic turmoil of the early twentieth century. Through mergers with the New York Life Insurance & Trust Company, The Fifth Avenue Bank, and the Empire Trust Company, the Bank expanded its presence in New York and its ability to provide financial services to businesses and individuals throughout Manhattan. In 1969, through the establishment of a bank holding company, the Bank expanded beyond the borders of New York City, establishing a suburban branch network that remains the largest among our competitors. Global expansion began with an office in London in 1966, but a major breakthrough occurred with the acquisition of The Irving Bank Corporation in 1988. This transaction, between two highly complementary institutions, created the tenth largest bank in the nation at that time and set the stage for The Bank of New York today. The acquisitions of National Community Banks in New Jersey and The Putnam Trust Company in Connecticut in the 1990�s continued the expansion of our branch network. The broad capabilities that resulted from our continuing investment in technology led to a series of business line acquisitions in securities servicing and asset based lending that enabled us to become a recognized leader in these areas. Over the last several decades, the corporate bank has grown in prominence as a banker to the largest corporations in America and in special industries such as telecommunications and energy. >From the vantage point of an institution that financed merchants whose vessels carried goods throughout the world two centuries ago, The Bank of New York looks forward to meeting the challenges and opportunities of today�s rapidly changing global financial services marketplace. ------------------------------------------------------------------------ Copyright 1998, The Bank of New York Company, Inc. Rev: September 23, 1998 ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, Omnia Bona Bonis, All My Relations. Adieu, Adios, Aloha. Amen. Roads End Kris DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance�not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html http:[EMAIL PROTECTED]/ ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
