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The Mutual Alliance Trust Company was a trust company formed in
New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
in 1902, with founders such as
Cornelius Vanderbilt Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into lead ...
and
William Rockefeller William Avery Rockefeller Jr. (May 31, 1841 – June 24, 1922) was an American businessman and financier. Rockefeller was a co-founder of Standard Oil along with his elder brother John Davison Rockefeller. He was also part owner of the Anaconda ...
. On January 14, 1915, the company was acquired by Chatham-Phenix National and Alliance Trust in New York.


History


Formation

At the end of April 1902, H. M. Humphreys resigned from his positions as superintendent of the
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to become vice president of the newly formed Mutual Alliance Trust Company. On May 1, 1902, the ''New York Times'' reported the details of the newly formed Mutual Alliance Trust Company. It was organized by
Cornelius Vanderbilt Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into lead ...
,
William Rockefeller William Avery Rockefeller Jr. (May 31, 1841 – June 24, 1922) was an American businessman and financier. Rockefeller was a co-founder of Standard Oil along with his elder brother John Davison Rockefeller. He was also part owner of the Anaconda ...
, and "a dozen more well-known men" with $1,000,000 in capital. Its initial place of business was an office at Orchard and Grand Streets in New York City. Kalman Haas was founding president, and Henry M. Humphrey vice president. It opened for business on the Tuesday after June 29, 1902, as a general trust company on the east side of Manhattan. There were 13 directors upon its founding.


Acquisition of National Reserve Bank

On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, which was then based at 35 Wall Street. The two companies had previously been affiliated and had shared directors. Deposits of the merged institutions was about $12,000,000. The National Reserve was liquidated, and its stockholders received the value "of the assets exceeding the amount of the deposits and a substantial payment for the good will of the institution." James H. Parker was appointed president of the combined institution. Those of the National Bank Reserve were about $4,352,561 on January 13, 1914. At the time of the merge, the ''New York Times'' wrote that "both institutions have a large number of country bank accounts, chiefly in the West and Southwest, and handle much cotton exchange business." For a time, the office of the National Bank Reserve at 165 was continued as the Reserve Branch of the trust company.


Liquidation

In January 1915, there were negotiations for Chatham and Phenix National to buy and liquidate the Mutual Alliance Trust Company in its entirety. The merger was completed on January 14, 1915.


Directors

When it opened for business on the Tuesday after June 29, 1902, there were 13 directors, including: *
Kalman Haas Kalman Haas (1847–1920) was an American businessman, co-founder of the Haas Brothers and member of the Haas family. Biography Haas was born to a Jewish family in Reckendorf, Bavaria, one of nine children including brothers Charles A. (b. 1825) ...
*
Henry H. Rogers Henry Huttleston Rogers (January 29, 1840 – May 19, 1909) was an American industrialist and financier. He made his fortune in the oil refining business, becoming a leader at Standard Oil. He also played a major role in numerous corporations a ...
(H. H. Rogers) * Eugene G. Kremer * James N. Jarvie ( James M. Jarvis) *
Cornelius Vanderbilt Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into lead ...
*
Isidor Straus Isidor Straus (February 6, 1845 – April 15, 1912) was a Bavarian-born American Jewish businessman, politician and co-owner of Macy's department store with his brother Nathan. He also served for just over a year as a member of the United State ...
* Richard A. McCurdy *
Louis Stern Louis Stern (born January 7, 1945) is a Los Angeles art dealer and President of Louis Stern Fine Arts in West Hollywood, California. Stern deals in the secondary market for Impressionist and Modern works. His gallery’s program specializes primaril ...
* Martin Erdmann *
Percival Kuhne Percival (, also spelled Perceval, Parzival), alternatively called Peredur (), was one of King Arthur's legendary Knights of the Round Table. First mentioned by the French author Chrétien de Troyes in the tale ''Perceval, the Story of the ...
*
Emanuel Lehman Emanuel Lehman (born Mendel Lehmann; February 15, 1827 – January 10, 1907) was a German-born American banker. The younger brother of Henry Lehman, he was a co-founder of Lehman Brothers. Biography Emanuel Lehman was born in Rimpar, Bavaria on ...
*
William Rockefeller William Avery Rockefeller Jr. (May 31, 1841 – June 24, 1922) was an American businessman and financier. Rockefeller was a co-founder of Standard Oil along with his elder brother John Davison Rockefeller. He was also part owner of the Anaconda ...
*
Frederic Cromwell Frederic may refer to: Places United States * Frederic, Wisconsin, a village in Polk County * Frederic Township, Michigan, a township in Crawford County ** Frederic, Michigan, an unincorporated community Other uses * Frederic (band), a Japanese r ...


See also

*
List of bank mergers in the United States This is a partial list of major banking company mergers in the United States. Table Mergers chart This 2012 chart shows some of the mergers noted above. Solid arrows point from the acquiring bank to the acquired one. The lines are labeled ...


References

{{reflist 1902 establishments in New York City Banks based in New York City Banks established in 1902 Banks disestablished in 1915 History of New York City 1915 disestablishments in New York (state) JPMorgan Chase 1915 mergers and acquisitions American companies established in 1902 American companies disestablished in 1915