Mechanics and Metals National Bank
Chase National Bank in 1926 | |
Headquarters | |
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Key people | Gates W. McGarrah (president) |
The Mechanics and Metals National Bank (MMNB) was a bank in
History
Mechanics National Bank was founded in 1810 in New York City. In 1910, it merged with National Copper Bank (est. 1907 in New York), and took the Mechanics and Metals National Bank name.[citation needed] In 1911, a new and unrelated bank with the name, National Copper Bank, was founded in Salt Lake City.
In May 1914, the directors of the Mechanics and Metals National Bank and the Fourth National Bank of New York agreed to unite. Mechanics and Metals had offered $200 a share for the stock of Fourth National. In March 1914, immediately before the merger, the Mechanics and Metals had net deposits of $58,433,000 and Fourth National had net deposits of $33,408,000. The resultant bank had net deposits of approximately $90,000,000.[2]
After approval from the
As of March 9, 1921, four national banks in New York City operated branch offices:
Between 1922 and 1925, together with several other New York banks, the Mechanics and Metals National Bank held a small ownership position in the Bank of Central and South America.[citation needed]
In 1926, MMNB consolidated with the
See also
- List of banks
References
- ^ L. P. Frink, Inc (1921). L.P. Frink reflectors designer and manufacturer of scientific and artistic lighting specialties ... L. P. Frink, Inc. Retrieved 16 January 2020.
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has generic name (help) - ^ "$58,000,000 MOVED WITH SMALL GUARD; Fourth National Bank's Cash and Securities Taken Over by Mechanics & Metals" (PDF). The New York Times. 17 May 1914. Retrieved 16 January 2020.
- ^ a b "Bank Merger is Approved; Mechanics and Metals and Produce Exchange Union Effective Today". The New York Times. New York City. June 21, 1920. Retrieved February 27, 2017.
- ^ Staff (March 9, 1921). "National City Bank Buys a State Bank". The New York Times. p. 24. Retrieved February 18, 2017.
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- ^ "Egyptian Motives Are Used in Huge Bank Building". The Cincinnati Enquirer. 1927-06-26. p. 34. Retrieved 2019-12-30.
External links
- Media related to Mechanics and Metals National Bank at Wikimedia Commons