Word: bankes
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Dates: during 1920-1929
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...Irving Bank-Columbia Trust...
...these the union of the Chase National and the Mechanics & Metals is most interesting, not only because the merger is the greatest of such in U. S. history or because their combined assets of $1,025,943,818 will make them the second billion-dollar bank in this country (outranked only by the National City), but because their histories, their traditions and their fields have been so dissimilar...
...Chase National Bank was organized 48 years ago with $300,000 capital and 18 clerks. Today it has 1,487 clerks, a capital of $20,000,000, surplus and undivided profits of more than $27,000,000 and deposits of more than $565,000,000. In deposits it ranks second only to the nearly 700 millions of the National City...
...been due to Albert Henry ("Al") Wiggin, President 1911-17, Chairman of the Board 1918-21, holder of both jobs since 1921. Son of a smalltown, Massachusetts preacher, he could not afford to go to college. So, at 17, he got a clerk's job in a Boston bank; became an assistant national bank examiner at 23 and soon married Jessie Duncan Hayden of Boston. The panic of 1907 gave him his great opportunity. He had come to Manhattan shortly before. During the crisis J. P. Horgan found two young men upon whom he could rely, Henry Pomeroy Davison (died...
...friends is Gates W. McGarrah, Chairman of the Board of the Mechanics & Metals, who will become Chairman of the Executive Committee of the new bank. (Mr. Wiggin will be Chairman of the combined Board.) He too started banking early, at 18; came to Manhattan and has remained active in banking there more than 40 years. In 1902 he was made President of the old Leather Manufacturers' Bank and, when the Mechanics & Metals absorbed it, became President of the combination in 1904; Chairman of the Board in 1922. He is a director of the German Reichsbank, being on its General Board...