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Nathaniel Prime, Stock And Commission Broker
Prime, Ward & King was a prominent American investment bank in the 18th and 19th Century based in New York City. History In 1796, Nathaniel Prime organized " Nathaniel Prime, Stock and Commission Broker" at 42 Wall Street where he bought and sold bank stocks. After opening the private bank, he allowed customers to deposit money and then loaned it out. In 1808, Prime brought in Samuel Ward III as a partner and the firm was renamed Prime & Ward. In 1816, Joseph Sands, Prime's brother-in-law, was made a partner and the firm became Prime, Ward & Sands. In 1823, Prime met with and, eventually, invited James Gore King became a partner upon his return from England. King, a son of U.S. Senator Rufus King, had previously been affiliated with the firm of King & Gracie, founded in 1818 in Liverpool, England by King and his brother-in-law, Archibald Gracie, Jr. (the son of Archibald Gracie). King wound up the affairs of the house in England, returned to New York and became a partner ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Industry
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financial s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Archibald Gracie
Archibald Gracie (June 25, 1755 – April 11, 1829) was a Scottish-born shipping magnate and early American businessman and merchant in New York City and Virginia whose spacious home, Gracie Mansion, now serves as the residence of the Mayor of New York City. Early life Archibald Gracie was born June 25, 1755 in Dumfries, Scotland. He was the son of a weaver named William Gracie. In 1776, Gracie moved to Liverpool and clerked for a London shipping firm. He used his earnings to purchase a part interest in a merchant ship. Career In April 1784, he sailed to America with a cargo of goods that were his own profit stock. He used the proceeds to invest in a mercantile company in New York City. He later moved to Petersburg, Virginia, and engaged in the export of tobacco to Great Britain.''American Heritage'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1796
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 i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government of the United Kingdom, it is the world's eighth-oldest bank. It was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. The Bank became an independent public organisation in 1998, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. The Bank is one of eight banks authorised to issue banknotes in the United Kingdom, has a monopoly on the issue of banknotes in England and Wales, and regulates the issue of banknotes by commercial banks in Scotland and Northern Ireland. The Bank's Monetary Policy Committee has devolved responsibility for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Erie Canal
The Erie Canal is a historic canal in upstate New York that runs east-west between the Hudson River and Lake Erie. Completed in 1825, the canal was the first navigable waterway connecting the Atlantic Ocean to the Great Lakes, vastly reducing the costs of transporting people and goods across the Appalachians. In effect, the canal accelerated the settlement of the Great Lakes region, the westward expansion of the United States, and the economic ascendancy of New York State. It has been called "The Nation's First Superhighway." A canal from the Hudson to the Great Lakes was first proposed in the 1780s, but a formal survey was not conducted until 1808. The New York State Legislature authorized construction in 1817. Political opponents of the canal, and of its lead supporter New York Governor DeWitt Clinton, denigrated the project as "Clinton's Folly" and "Clinton's Big Ditch". Nonetheless, the canal saw quick success upon opening on October 26, 1825, with toll revenue covering the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Baring Family
The Baring family is a German and British family of merchants and bankers. In Germany, the family belongs to the ''Bildungsbürgertum'', and in England, it belongs to the aristocracy. History The family's earliest known ancestor is Peter Baring (or Petrus Baring), who was a burgher of the city of Groningen, then a semi-independent city-state that was part of the Holy Roman Empire and the Hanseatic League, now part of the Netherlands, around 1500. Peter Baring's son Franz Baring (Franciscus Baringius) became the first Lutheran bishop of Lauenburg in what is now Lower Saxony in Germany from 1565. The current family in Germany and England is descended from Franz Baring. In the Electorate of Hanover, the Baring family belonged to the upper bourgeoisie, the so-called '' Hübsche Familien'' (from ''hübsch'', pretty, or good looking), which comprised the third division of the ruling class of the Holy Roman Empire, after the nobility and the clergy. The English branch of the family is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Oldest Banks In Continuous Operation
This list of the oldest banks includes financial institutions in ''continuous'' operation, operating with the same legal identity without interruption since their establishment until the present time. Depending on the definition, the world's oldest bank is either Banca Monte dei Paschi di Siena or Berenberg Bank. Banca Monte dei Paschi di Siena was founded in its present form in 1624, but traces its history to a mount of piety founded in 1472. The Berenberg company was founded in 1590 and has operated continuously ever since with the same family as owners or major co-owners. Banca Monte dei Paschi di Siena is today a large Italian retail bank, while Berenberg Bank is primarily involved in investment banking and private banking for wealthy customers; in any event Berenberg Bank is the world's oldest merchant bank or investment bank. The world's oldest central bank is the Sveriges Riksbank, which was founded in 1668. __TOC__ Banks established before 1600 Banks established ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major settlement for two millennia. The City of London, its ancient core and financial centre, was founded by the Romans as '' Londinium'' and retains its medieval boundaries.See also: Independent city § National capitals The City of Westminster, to the west of the City of London, has for centuries hosted the national government and parliament. Since the 19th century, the name "London" has also referred to the metropolis around this core, historically split between the counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire, which largely comprises Greater London, governed by the Greater London Authority.The Greater London Authority consists of the Mayor of London and the London Assembly. The London Mayor is distinguished fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Bank
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope. In modern usage in the United States, the term additionally has taken on a more narrow meaning, and refers to a financial institution providing capital to companies in the form of share ownership instead of loans. A merchant bank also provides advice on corporate matters to the firms in which they invest. History Merchant banks were the first modern banks. They emerged in the Middle Ages from the Italian grain and cloth merchants community and started to develop in the 11th century during the large Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Baring Brothers
Barings Bank was a British merchant bank based in London, and one of England's oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative. It was founded in 1762 by Francis Baring, a British-born member of the German-British Baring family of merchants and bankers. The bank collapsed in 1995 after suffering losses of £827 million (£ billion in ) resulting from fraudulent investments, primarily in futures contracts, conducted by its employee Nick Leeson, working at its office in Singapore. History 1762–1889 Barings Bank was founded in 1762 as the John and Francis Baring Company by Sir Francis Baring, 1st Baronet, with his older brother John Baring as a mostly silent partner. They were sons of John (né Johann) Baring, wool trader of Exeter, born in Bremen, Germany. The company started business in offices off Cheapside in London, and within a few years moved to larger quarters in Mincing Lane.D. Kinaston. The City of London, Volum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Univ Of Massachusetts Press
The University of Massachusetts Press is a university press that is part of the University of Massachusetts Amherst. The press was founded in 1963, publishing scholarly books and non-fiction. The press imprint is overseen by an interdisciplinary faculty committee. Juniper Prizes The press also publishes fiction and poetry through its annual Juniper Prizes.Herman (2007) The Juniper Prize was named in honor of local poet Robert Francis and his house ('Fort Juniper'). The Juniper Prizes include: * 2 prizes for poetry: one for a previously published poet, one for a poet not previously published * 2 prizes for fiction: one for a novel, one for a collection of short stories * creative non-fiction The poetry award began in 1975, the fiction award in 2004, and the award for creative non-fiction in 2018. Notes References * External linksUniversity of Massachusetts Press official website Press Press may refer to: Media * Print media or news media, commonly called "the press" * P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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