|
Maverick National Bank
The Maverick National Bank was a bank in East Boston, Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ..., established in 1854.http://nehemiahgibson.com/maverickNationalBank.htm and failed on October 31, 1891. The bank had extended large loans to its president, Asa P. Potter, who used the funds for speculative investments. Much litigation followed the bank's failure, including ''Beal v. National Exchange Bank of Dallas'' and ''City of Summerville v. Beal.'' Potter was indicted for violations of the banking law. Nehemiah Gibson was a president and later a director of the bank. In 1897, the remainder of the bank's assets, which included many worthless stocks and bonds of already defunct companies, were sold at auction by R.L. Day & Co., a Boston-based banking firm resulting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East Boston
East Boston, nicknamed Eastie, is a neighborhood of Boston, Massachusetts annexed by the city of Boston in 1637. Neighboring communities include Winthrop, Revere, and Chelsea. It is separated from the Boston neighborhood of Charlestown and downtown Boston by Boston Harbor. The footprint of the East Boston neighborhood as it is known today was created in the 1940s by connecting five of the inner harbor islands using land fill. Logan International Airport is located in East Boston, connecting Boston to domestic and international locations. East Boston has long provided homes for immigrants with Irish, Russian Jews and later, Italians. John F. Kennedy's great-grandfather was one of many Irish people to immigrate to East Boston, and the Kennedy family lived there for some time. From 1920 to 1954, East Boston was the site of the East Boston Immigration Station, which served as the regional immigration hub for Boston and the surrounding area. A once Italian dominated community, Eas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massachusetts
Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut [Massachusett writing systems, məhswatʃəwiːsət],'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England region of the Northeastern United States. It borders on the Atlantic Ocean and Gulf of Maine to the east, Connecticut and Rhode Island to the south, New Hampshire and Vermont to the north, and New York (state), New York to the west. The state's capital and List of municipalities in Massachusetts, most populous city, as well as its cultural and financial center, is Boston. Massachusetts is also home to the urban area, urban core of Greater Boston, the largest metropolitan area in New England and a region profoundly influential upon American History of the United States, history, academia, and the Economy of the United States, research economy. Originally dependent on agriculture, fishing, and trade. Massachusetts was transformed into a manuf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1854
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
