Consolidated National Bank

Not to be confused with Consolidated National Bank of Tucson.
Consolidated National Bank
IndustryBanking
PredecessorsNone
FoundedJuly 1, 1902 (organized)
September 22, 1902 (open for business)
FoundersMortimer H. Wagar
DefunctMarch 7, 1909 (merged into National Reserve Bank)
FateMerged
SuccessorsNational Reserve Bank of the City of New York
HeadquartersManhattan,
New York City
,
United States
Key people
Mortimer Wagar
ServicesBanking, etc.

Consolidated National Bank of New York was a bank operating in New York City.[1] Also referred to in the press as Consolidated National Bank, the institution was organized on July 1, 1902, with capital of $1 million.[2] Wrote The New York Times, the bank was "founded with the idea of cornering the business of the Consolidated Exchange and its brokers."[3] The bank opened for business at 57 Broadway on September 22, 1902,[1] and a year later the bank took out a five-year lease at the Exchange Court Building.[4] In 1906, the Consolidated Stock Exchange withdrew its deposits with the Consolidated National Bank.[3] In 1909, the bank voted to acquire the assets of Oriental Bank and merge them with Consolidated, creating the National Reserve Bank. The Consolidated name was operative for a short time afterwards.[5][6]

  1. ^ a b Cite error: The named reference lawjournal was invoked but never defined (see the help page).
  2. ^ Cite error: The named reference nyt-ws was invoked but never defined (see the help page).
  3. ^ a b Cite error: The named reference nyt-drop was invoked but never defined (see the help page).
  4. ^ Cite error: The named reference nyt-quarters was invoked but never defined (see the help page).
  5. ^ Cite error: The named reference nyt-oriental was invoked but never defined (see the help page).
  6. ^ "Mutual Alliance Takes Over Bank; National Reserve Office Will Continue as Branch of Trust Company.", The New York Times, New York City, p. 12, January 28, 1914, retrieved January 19, 2017