Trust Company of America

Trust Company of America
IndustryFinancial
GenreTrust company
FoundedMay 23, 1899; 125 years ago (1899-05-23) in Albany, New York, United States
FounderAshbel P. Fitch
Defunct1912
FateAbsorbed by the Equitable Trust Company in the spring of 1912
SuccessorEquitable Trust Company
HeadquartersSinger Building, Manhattan
37 Wall Street, Manhattan,
New York City
,
United States

The Trust Company of America was a large company in New York City. Founded on May 23, 1899 in Albany, New York,[1] its founding president was Ashbel P. Fitch and it was initially located in the Singer Building in Manhattan's Financial District.[1] In 1907 the company absorbed the Colonial Trust Company, a commercial bank.[2] During the Panic of 1907 it was the target of a bank run starting on October 23, 1907, which it survived with the backing of J. Pierpont Morgan and an infusion of gold from the Bank of England and other European sources.[3][4] The company ultimately represented a consolidation of the North American Trust Company, the former Trust Company of America, the City Trust Company and the Colonial Trust Company.[5] The Trust Company of America was absorbed by the Equitable Trust Company in the spring of 1912.[6]

  1. ^ a b Cite error: The named reference nyt-newtrust was invoked but never defined (see the help page).
  2. ^ Cite error: The named reference nyt-elected-merger was invoked but never defined (see the help page).
  3. ^ Mark Sullivan, Our Times, 1900-1925, Vol. III, pp. 504, 510-511. New York: Charles Scribner's Sons, 1930.
  4. ^ Walter Lord, The Good Years. From 1900 to the First World War, pp. 191-194, 198, 201-204. New York: Harper & Brothers, 1960.
  5. ^ Cite error: The named reference banking-pub was invoked but never defined (see the help page).
  6. ^ Cite error: The named reference nyt-steel was invoked but never defined (see the help page).