File:Days and ways in old Boston (1915) (14782861822).jpg

Identifier: dayswaysinoldbos00ross_0 (find matches)
Title: Days and ways in old Boston
Year: 1915 (1910s)
Authors: Rossiter, William Sidney, 1861-1929
Subjects:
Publisher: Boston : R. H. Stearns and company
Contributing Library: Boston Public Library
Digitizing Sponsor: Boston Public Library

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JUNE 25. 1792. The National Union Bankis the oldest of all Bostonbanks in the sense of un-broken existence under thesame name. Established in1792, it began business in aprivate residence on StateStreet. As tenant or ownerit has occupied the same siteever since, a continuous resi-dence of one hundred andtwenty-two years,—the pres-ent building being erected in 1826. 140
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Old Boston Banks In 1793, six months after its establishment,the directors declared the first dividend (4 percent.) and semi-annual dividends have been de-clared from that date to the present time, withoutinterruption. In this record the bank is uniqueamong American financial institutions. In 1847its capital was $800,000, and its surplus and de-posits were $1,402,194. In 1914 the capital andsurplus were $2,000,000 and the total resources$12,723,265. The Merchants National Bank was establishedas a state bank in 1831. It occupied the oldUnited States Bank building on State Street andthe present Merchants Bank building is locatedon the same site. In 1847 the total resourceswere $6,820,000, which had grown in 1914 to thegenerous figure of $46,000,000. Largest of all Boston nationalbanks, the Shawmut has attainedthat position in part throughsuccessful management and in partby consolidation. It was estab-lished as a state bank in 1837. Thepaid up capital in 1847 was$500,0C0, and total resou

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