The Mutual Alliance Trust Company was a trust company formed in

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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

, 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) *

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* Richard A. McCurdy *

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* Martin Erdmann *

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References