es of the Bank were maintained in Utica and Poughkeepsie.

In 1805 negotiations were consummated for a "union of the capitals and
interests" of the New York State Bank of Albany and the Manhattan
Company. A bill authorizing the consolidation was offered in the
Legislature, but it failed to pass, and the plan was abandoned.

In 1808 the Legislature, in enacting certain amendments to the Charter
of the Manhattan Company, reserved for the State the right to take 1,000
shares of its capital stock. This right was exercised and the capital
stock was increased for the purpose from $2,000,000 to $2,050,000. Both
the State and the City of New York are still stockholders, this being
the only bank stock which the State holds.

In 1833, as shown in the cartoon reproduced on the following page, the
Manhattan Company was one of the banks to receive the Government
deposits when they were withdrawn from the second United States Bank by
President Jackson.

[Illustration: Published and for sale wholesale and retail by A Imbert
at his Caricature Store No 106 Broadway]

PRESENT ORGANIZATION AND POLICY OF THE BANK

In 1853 the Manhattan Company became one of the original members of the
New York Clearing House Association, and stands, in order of seniority,
No. 2 on its roll.

From 1853 down to 1880, the Manhattan Company's deposits averaged
between $3,000,000 and $5,000,000. The deposits doubled during the
eighties, again during the nineties, and again in the decade ending
1910. This growth has been made along healthy and normal lines, and not
by absorbing or consolidating with other banking institutions. The fact
that the Manhattan Company is an entirely independent institution has
doubtless assisted its growth in recent years.

The steady increase in both the deposits and the surplus of the
Manhattan Company is evidence of its vitality, its sound banking
traditions and its ability to keep its methods so modernized as to give
efficient service to its widening circle of clients. To meet both its
own needs and those of its commercial and banking patrons, well
organized credit and foreign exchange departments are maintained.

[Illustration: Building of the Manhattan Company
WALL STREET IN 1860]

The Manhattan Company, acting as the reserve agent of many State banks
and trust companies throughout the country, has a substantial volume of
bank deposits. But it was originally established as an "Office of
Discount and Deposit," a