Bank of the Manhattan Company | Page 3

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$2,050,000. Both the State and the City of New York are still
stockholders, this being the only bank stock which the State holds.

In 1833, as shown in the cartoon reproduced on the following page, the
Manhattan Company was one of the banks to receive the Government
deposits when they were withdrawn from the second United States
Bank by President Jackson.
[Illustration: Published and for sale wholesale and retail by A Imbert at
his Caricature Store No 106 Broadway]

PRESENT ORGANIZATION AND POLICY OF THE BANK
In 1853 the Manhattan Company became one of the original members
of the New York Clearing House Association, and stands, in order of
seniority, No. 2 on its roll.
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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