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Knickerbocker Trust Company
The Knickerbocker Trust was a bank based in New York City that was, at one time, among the largest banks in the United States. It was a central player in the Panic of 1907. History The bank was chartered in 1884 by Frederick G. Eldridge, a friend and classmate of financier J.P. Morgan. As a trust company, its main business was serving as trustee for individuals, corporations and estates. Eldridge was the founding president serving until his death in 1889. Eldridge was succeeded John P. Townsend, who served as president for five years until he resigned to become president of the Bowery Savings Bank. After Townsend's resignation, Robert Maclay was unanimously chosen to be the new president, with Charles Tracy Barney as vice president. When Maclay retired in 1897, Barney was elected president. Panic of 1907 In 1907, its funds were being used by then-president Charles T. Barney in a plan to drive up the cost of copper by cornering the market. This gamble came undone due to the du ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of New York
The Bank of New York Mellon Corporation, commonly known as BNY Mellon, is an American investment banking services holding company headquartered in New York City. BNY Mellon was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. It is the world's largest custodian bank and securities services company, with $2.4 trillion in assets under management and $46.7 trillion in assets under custody as of the second quarter of 2021. It is considered a systemically important bank by the Financial Stability Board. BNY Mellon is incorporated in Delaware. Through its Bank of New York predecessor, it is one of the three oldest banking corporations in the United States and among the oldest banks in the world, having been established in June 1784 by a group that included American Founding Fathers Alexander Hamilton and Aaron Burr. T. Mellon and Sons Bank, was founded in Pittsburgh in 1869 by Thomas Mellon and his sons Richard and Andrew, the latter of wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cornering The Market
In finance, cornering the market consists of obtaining sufficient control of a particular stock, commodity, or other asset in an attempt to manipulate the market price. One definition of cornering a market is "having the greatest market share in a particular industry without having a monopoly". Companies that have cornered their markets have usually done so in an attempt to gain greater leeway in their decisions; for example, they may desire to charge higher prices for their products without fears of losing too much business. The cornerer hopes to gain control of enough of the supply of the commodity to be able to set the price for it. Strategy and risks Cornering a market can be attempted through several mechanisms. The most direct strategy is to buy a large percentage of the available commodity offered for sale in some spot market and hoard it. With the advent of futures trading, a cornerer may buy a large number of futures contracts on a commodity and then sell them at a profi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Irving Bank-Columbia Trust Company 1923
Irving may refer to: People *Irving (name), including a list of people with the name Fictional characters * Irving, the main character's love interest in Cathy (comic strip) * Lloyd Irving, the main protagonist in the ''Tales of Symphonia'' video game Places Canada * Irving Nature Park, a park in Saint John, N.B. United States *Irving, California, former name of Irvington, California * Irving, Illinois * Irving, Iowa *Irving (Duluth), Minnesota *Irving, New York *Irving, Texas *Irving, Wisconsin, a town **Irving (community), Wisconsin, an unincorporated community *Irving Park, Chicago, Illinois * Irving Township, Montgomery County, Illinois * Irving Township, Michigan * Irving Township, Minnesota * Lake Irving, a lake in Minnesota Companies * Irving Group of Companies, Canadian conglomerate based in Saint John, New Brunswick, controlled by the Irving family, including: ** J. D. Irving, a conglomerate with holdings in forestry, pulp and paper, tissue, newsprint, building su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Public Service Commission
The New York Public Service Commission is the public utilities commission of the New York state government that regulates and oversees the electric, gas, water, and telecommunication industries in New York as part of the Department of Public Service. The department's regulations are compiled in title 16 of the ''New York Codes, Rules and Regulations''. The current chairman of the Commission and chief executive of the Department is Rory M. Christian. His term began on June 10, 2021 and runs through February 1, 2027. Organization The Public Service Commission consist of seven members, each appointed by the Governor of New York with the advice and consent of the New York State Senate for a term of six years or to complete an unexpired term of a member. Public Service Law § 4 A commissioner is designated as chairman by the Governor to serve in such capacity at the pleasure of the Governor or until their term as commissioner expires. No more than three commissioners may be members o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York State Superintendent Of Banks
The New York State Banking Department was created by the New York Legislature on April 15, 1851, with a chief officer to be known as the Superintendent. The New York State Banking Department was the oldest bank regulatory agency in the United States. The Department was the primary regulator for state-licensed and state-chartered financial entities, including domestic banks, foreign agencies, branches and representative offices, savings institutions and trust companies, credit unions and other financial institutions operating in New York including mortgage bankers and brokers, check cashers, money transmitters, and licensed lenders, among others. Total assets of the institutions regulated were nearly $2.2 trillion. Effective October 3, 2011, Governor Andrew M. Cuomo and the New York State Legislature consolidated the New York State Banking Department and the New York State Insurance Department and created the New York State Department of Financial Services. Mission The Department ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodore Roosevelt
Theodore Roosevelt Jr. ( ; October 27, 1858 – January 6, 1919), often referred to as Teddy or by his initials, T. R., was an American politician, statesman, soldier, conservationist, naturalist, historian, and writer who served as the 26th president of the United States from 1901 to 1909. He previously served as the 25th vice president of the United States, vice president under President William McKinley from March to September 1901 and as the 33rd governor of New York from 1899 to 1900. Assuming the presidency after Assassination of William McKinley, McKinley's assassination, Roosevelt emerged as a leader of the History of the Republican Party (United States), Republican Party and became a driving force for United States antitrust law, anti-trust and Progressive Era, Progressive policies. A sickly child with debilitating asthma, he overcame his health problems as he grew by embracing The Strenuous Life, a strenuous lifestyle. Roosevelt integrated his exuberant personalit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assistant Secretary Of The Treasury
A United States Assistant Secretary of the Treasury is one of several positions in the United States Department of the Treasury, serving under the United States Secretary of the Treasury. History According to U.S. statute, there are eight Assistant Secretaries of the Treasury appointed by the President of the United States with the advice and consent of the United States Senate. There are two more Assistant Secretaries (Public Affairs and Management), appointed by the President, which do not require confirmation. Additionally there are two Deputy Under Secretaries of the Treasury (Legislative Affairs, and International Finance and Development) that may also be and typically are designated Assistant Secretaries by the President. Furthermore The Emergency Economic Stabilization Act of 2008 specified that one Assistant Secretary take on a specific role: Assistant Secretary of the Treasury for Financial Stability. This role was abolished in June 2014 with the resignation of Timothy Mas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Emergence Of Wall Street As A World Power: 1653–2000
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of pronoun ''thee'') when followed by a v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Steele Gordon
John Steele Gordon (born May 7, 1944) is an American writer who specializes in the history of business and finance. Born and raised in New York City, he graduated from Vanderbilt University. After spending some time in publishing, he left to travel, driving from England to India and back and from New York to Tierra del Fuego, returning as far as Rio de Janeiro. His first book was a how-to book on how to do this type of overland traveling. After working in politics for a few years as a press secretary for two congressmen, he wrote his first book on financial history, ''The Scarlet Woman of Wall Street'' (1988), a history of Wall Street in the 1860s. His history of the national debt, ''Hamilton's Blessing'', was published in 1997 (2nd edition, 2010). In 2004 he published a history of the American economy, An Empire of Wealth. He has also written on technological history, including A Thread Across the Ocean, the story of laying the Atlantic cable in the mid-19th century, and Washing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greenwich, Connecticut
Greenwich (, ) is a New England town, town in southwestern Fairfield County, Connecticut, United States. At the 2020 United States Census, 2020 census, the town had a total population of 63,518. The largest town on Connecticut's Gold Coast (Connecticut), Gold Coast, Greenwich is home to many hedge funds and other financial services firms. Greenwich is a principal community of the Greater Bridgeport, Bridgeport–Stamford–Norwalk–Danbury metropolitan statistical area, which comprises all of Fairfield County. Greenwich is the southernmost and westernmost municipality in Connecticut as well as in the six-state region of New England. The town is named after Greenwich, a List of place names with royal patronage in the United Kingdom, royal borough of London in the United Kingdom. History The town of Greenwich was settled in 1640, by the agents Robert Feake and Captain Daniel Patrick, for Theophilus Eaton, Governor Theophilus Eaton of New Haven Colony, who purchased the land from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve System
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. U.S. Congress, Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and bank regulation, regulating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establishes that there be 435 representatives and the Uniform Congressional Redistricting Act requires ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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