Drexel And Company Building
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Drexel And Company Building
Drexel and Company Building, also known as the Drexel Building, is a historic bank building located in the Rittenhouse Square East neighborhood of Philadelphia, Pennsylvania. It was built between 1925 and 1927, and is a six-story, building with basement and penthouse in a Renaissance Palazzo style. It is faced in ashlar granite and features a rounded entrance portal, low relief zodiac roundels, carved shields, and wrought iron lamps. It was built as headquarters for Drexel and Company Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a ..., which was subsequently dissolved in the 1930s. It was then occupied by a local bank. ''Note:'' This includes It was added to the National Register of Historic Places in 1980. References External links {{National Register of Historic Pla ...
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Philadelphia, Pennsylvania
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Since 1854, the city has been coextensive with Philadelphia County, the most populous county in Pennsylvania and the urban core of the Delaware Valley, the nation's seventh-largest and one of world's largest metropolitan regions, with 6.245 million residents . The city's population at the 2020 census was 1,603,797, and over 56 million people live within of Philadelphia. Philadelphia was founded in 1682 by William Penn, an English Quaker. The city served as capital of the Pennsylvania Colony during the British colonial era and went on to play a historic and vital role as the central meeting place for the nation's founding fathers whose plans and actions in Philadelphia ultimately inspired the American Revolution and the nation's inde ...
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Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ...
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Rittenhouse Square
Rittenhouse Square is a neighborhood, including a public park, in Center City Philadelphia. The park is one of the five original open-space parks planned by William Penn and his surveyor Thomas Holme during the late 17th century. The neighborhood is among the highest-income urban neighborhoods in the country. Together with Fitler Square, the Rittenhouse neighborhood and the square comprise the Rittenhouse–Fitler Historic District. Rittenhouse Square Park is maintained by the non-profit group The Friends of Rittenhouse Square. The square cuts off 19th Street at Walnut Street and also at a half-block above Manning Street. Its boundaries are 18th Street to the east, Walnut St. to the north, Rittenhouse Square West (a north–south boundary street), and Rittenhouse Square South (an east–west boundary street), making the park approximately two short blocks on each side. History Originally called Southwest Square, Rittenhouse Square was renamed in 1825 after David Rittenhouse ...
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Philadelphia
Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Since 1854, the city has been coextensive with Philadelphia County, the most populous county in Pennsylvania and the urban core of the Delaware Valley, the nation's seventh-largest and one of world's largest metropolitan regions, with 6.245 million residents . The city's population at the 2020 census was 1,603,797, and over 56 million people live within of Philadelphia. Philadelphia was founded in 1682 by William Penn, an English Quaker. The city served as capital of the Pennsylvania Colony during the British colonial era and went on to play a historic and vital role as the central meeting place for the nation's founding fathers whose plans and actions in Philadelphia ultimately inspired the American Revolution and the nation's inde ...
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Pennsylvania
Pennsylvania (; ( Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Maryland to its south, West Virginia to its southwest, Ohio to its west, Lake Erie and the Canadian province of Ontario to its northwest, New York to its north, and the Delaware River and New Jersey to its east. Pennsylvania is the fifth-most populous state in the nation with over 13 million residents as of 2020. It is the 33rd-largest state by area and ranks ninth among all states in population density. The southeastern Delaware Valley metropolitan area comprises and surrounds Philadelphia, the state's largest and nation's sixth most populous city. Another 2.37 million reside in Greater Pittsburgh in the southwest, centered around Pittsburgh, the state's second-largest and Western Pennsylvania's largest city. The state's su ...
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Renaissance Revival Architecture
Renaissance Revival architecture (sometimes referred to as "Neo-Renaissance") is a group of 19th century architectural revival styles which were neither Greek Revival nor Gothic Revival but which instead drew inspiration from a wide range of classicizing Italian modes. Under the broad designation Renaissance architecture nineteenth-century architects and critics went beyond the architectural style which began in Florence and Central Italy in the early 15th century as an expression of Renaissance humanism; they also included styles that can be identified as Mannerist or Baroque. Self-applied style designations were rife in the mid- and later nineteenth century: "Neo-Renaissance" might be applied by contemporaries to structures that others called "Italianate", or when many French Baroque features are present (Second Empire). The divergent forms of Renaissance architecture in different parts of Europe, particularly in France and Italy, has added to the difficulty of defining an ...
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Ashlar
Ashlar () is finely dressed (cut, worked) stone, either an individual stone that has been worked until squared, or a structure built from such stones. Ashlar is the finest stone masonry unit, generally rectangular cuboid, mentioned by Vitruvius as opus isodomum, or less frequently trapezoidal. Precisely cut "on all faces adjacent to those of other stones", ashlar is capable of very thin joints between blocks, and the visible face of the stone may be quarry-faced or feature a variety of treatments: tooled, smoothly polished or rendered with another material for decorative effect. One such decorative treatment consists of small grooves achieved by the application of a metal comb. Generally used only on softer stone ashlar, this decoration is known as "mason's drag". Ashlar is in contrast to rubble masonry, which employs irregularly shaped stones, sometimes minimally worked or selected for similar size, or both. Ashlar is related but distinct from other stone masonry that is ...
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Granite
Granite () is a coarse-grained (phaneritic) intrusive igneous rock composed mostly of quartz, alkali feldspar, and plagioclase. It forms from magma with a high content of silica and alkali metal oxides that slowly cools and solidifies underground. It is common in the continental crust of Earth, where it is found in igneous intrusions. These range in size from dikes only a few centimeters across to batholiths exposed over hundreds of square kilometers. Granite is typical of a larger family of ''granitic rocks'', or ''granitoids'', that are composed mostly of coarse-grained quartz and feldspars in varying proportions. These rocks are classified by the relative percentages of quartz, alkali feldspar, and plagioclase (the QAPF classification), with true granite representing granitic rocks rich in quartz and alkali feldspar. Most granitic rocks also contain mica or amphibole minerals, though a few (known as leucogranites) contain almost no dark minerals. Granite is nearly alway ...
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Drexel Burnham Lambert
Drexel Burnham Lambert was an American multinational investment bank that was forced into bankruptcy in 1990 due to its involvement in illegal activities in the junk bond market, driven by senior executive Michael Milken. At its height, it was a Bulge Bracket bank, as the fifth-largest investment bank in the United States. The firm had its most profitable fiscal year in 1986, netting $545.5 million—at the time, the most profitable year ever for a Wall Street firm, and equivalent to $ billion in . Milken, who was Drexel's head of high-yield securities, was paid $295 million, the highest salary that an employee in the modern history of the world has ever received. The firm's aggressive culture led many Drexel employees to stray into unethical, and sometimes illegal, conduct. Milken and his colleagues at the high-yield bond department believed the securities laws hindered the free flow of trade. Eventually, Drexel's excessive ambition led it to abuse the junk bond market a ...
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National Register Of Historic Places
The National Register of Historic Places (NRHP) is the United States federal government's official list of districts, sites, buildings, structures and objects deemed worthy of preservation for their historical significance or "great artistic value". A property listed in the National Register, or located within a National Register Historic District, may qualify for tax incentives derived from the total value of expenses incurred in preserving the property. The passage of the National Historic Preservation Act (NHPA) in 1966 established the National Register and the process for adding properties to it. Of the more than one and a half million properties on the National Register, 95,000 are listed individually. The remainder are contributing resources within historic districts. For most of its history, the National Register has been administered by the National Park Service (NPS), an agency within the U.S. Department of the Interior. Its goals are to help property owners and inte ...
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Bank Buildings On The National Register Of Historic Places In Philadelphia
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ...
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Renaissance Revival Architecture In Pennsylvania
The Renaissance ( , ) , from , with the same meanings. is a period in European history marking the transition from the Middle Ages to modernity and covering the 15th and 16th centuries, characterized by an effort to revive and surpass ideas and achievements of classical antiquity. It occurred after the Crisis of the Late Middle Ages and was associated with great social change. In addition to the standard periodization, proponents of a "long Renaissance" may put its beginning in the 14th century and its end in the 17th century. The traditional view focuses more on the early modern aspects of the Renaissance and argues that it was a break from the past, but many historians today focus more on its medieval aspects and argue that it was an extension of the Middle Ages. However, the beginnings of the period – the early Renaissance of the 15th century and the Italian Proto-Renaissance from around 1250 or 1300 – overlap considerably with the Late Middle Ages, conventionally dat ...
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