The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-12-24
NEW FORK FAMILIES.

PART Tine CHEMICAL BANK

nalism to bis other wonderful works, could not 10
any notice, sketch, or series Of sketches have
done Justice to this great branch Of the hum an
family. We have taken up those Joneses who
married daughters OF the late John Mason,
their families and descendants, as a subject not
devoid OF Interest TO most New Workers.
This particular variety Of the Jones plant has
taken deep root In the soil OF Manhattan Island,
nourshed greatly, aud spread out its branches
In every direction. The Mason-Jo neses are allied
by marriage to many Of our well known New
York families.
John Mason, during the FIRST quarter OF the
present century. was prominent and success
ful merchant In this city. lie amassed
largo fortune. principally invested in real
estate, which mas grown in value with the growth
Of the city, and made all his children Million
aires. For many years he lived In Broadway,
between Anthony and Leonard streets. On the
same side, and in the same row, lived James
Heard, John O.. Warren, Jacob LEROY, and John
II. Rowland, all at the time well known and
prominent citizens. Afterward Ned windust
kept his AtbenGum Hotel then very popular
resort, IN the same spot. Later in life, Mr.. Mason
moved higher up Broadway to GAG, where we
find him in 1887, 80, 80 20.
Mr.. Mason will be long remembered in New
York banking and financial circles, as substan-
TALLY the father Of the Chemical Bank, a bank
which has achieved greater moneyed success
than any other financial institution 10 the coun-
tfy, and Is looked upon by certain class Of
wealthy. old-fashioned. and conservative New
Workers az bearing close resemblance 10 the
Bank OF England, only more safe. Yea sir.
moro safe. You see we have II right here among
us, and know exactly what Is going on az
these conservative old gentlemen are won to
say At the time OF the lncorp oration Of the
n.
get an act of incorporation for banking purposes.
In order 10 compass the desired result, some
wise men put their heads together. aud II wa,
resolved to apply to the Legislature for the in
corporation Of a Chemical Manufacturing Com
pany With banking privileges. Very few chemi-
Gals were then manufactured IN this eountIv.
The great advantages likely TO accrue TO the
city from the establishment Of such an enter
prise were set forth by those interested ID
memorial to the Legislature.
The scheme was entirely successful. IN
the spring OF 1894, Gerardus Post, Jam,s
jenkins, and John G. Morrison were ap
pointed commissioners and authorized to re-
ceive subscriptions to the amount OF f500,Oo0
with power to employ the whole thereof, except
ing 100000, In banking operations IN the city Of
New York. IL was stipul tied that not less than
$4,000 should be constantly employed in the
y
banking privileges should cease with the ce-ss-
ton OF the manufacturing business. The orieI-
nal charter was for twenty-one years. OF course
the real purpose Of the projectors Of this enter
prize WAS banking. not manufacturing. The
chief spirit and prime mover in tho scheme was
John {. Morrison, then largely engaged in the
drug and chemical business at lSs Greenwich
street. near vesey. He owned a chemical fac
tory III the then village Of Greenwich, which, by
the act OF incorporation, he was authorized,
under certain conditions, to put In as part and
parcel Of the stock OF the New York Chemical
Manufacturing Company" In ls2s we find the
Chemical Bank, or Manufacturing Company
largely engaged In the manufacture Of drugs
and chemicals at their factory In Thirty
second street. near the North river These
WORKS were built by Mr. Tucker. an extern
sive and well-known builder, likewise one
Of the elrly directors OF the Chemical Bank.
MIR. Tucker also built the gas works in Canal
street
Ip TO 1870 John G. Morrison acted IA agent
Of the Chemical Manufacturing Company.
About this time John Mason became President
Of the Chemical Bank, located AZ 2l6 broadway.
opposite -. Paul's Church. aud next to the
present Nclc York H,rdh building. Mr. Mason,
a large owner Of the stock, managed the insti-
TUT m Irctty much ~ he managed his own
affairs, with marked ability and signal success.
IL was al tina, period more ike a private bank
ing drm than public bank. For long tim no
dividends were made, and the pron's were sui
fered To accumulate. rhi, accounts IN part for
the enormous surplus Of the Chemc i Bank.
Finally when the Legislature passed special
act taxing bank SURPRISES, they commenced
making dividends. John Mason retired from
the Presidency some years previous to his
death lie was succeeded by Isaac Jones. his
son in-aw. Mr.. Isaac Jones continued tho
Mason method N the management Of the affair
Of the bank. 1t hourished largely under his di-
recti1n. If We are not mistaken. the present
incumbent. John Qlantn Jones, succeeded
Mr, Isaac Jones In the Presidential chair. He
was trained up in tue bank, having been cashier
under John Mason thirty i've or forty years ago.
is familiar with It's traditions. ami conducts Il
with all the ability, caution, and conservatism
OF its original founder.
The prosperity Of the Chemical Bank dates
from John Mason. lie IL was who first
launched II on career which, for imam.
cisl success. has no parallel in the annals
II American banking. One by one the men who
conGregatcd in the bank paror Of the Chemical
Bank TO discuss finance real estate. trade. and
various other matters have dropped out. oar
older readers will remember when the late
Robert McCoskrey, for many years the wit and
| life of the Chemical Bank circle. kept hosiery
store in Maiden lane when the late Mr.. Samp.
son, who long lived in the large, square, gloomy
house on the northeast corner Of Bond street.
| and Broadway. where the clothing establish
| inent Of Brooks Brothers now 81 .nds. was en-
gagged In the auction business In Pearl street.
| These gentlemen, both stockholders, Nj. Samp.
| son very heavy one, made the Chemical Bank
| their regular stopping place whenever they
came down town after they gave up business.
There they met Cornelius Roosevelt Bradish
johnson, Peter Goelet, aud others Of the clique,
| worthy, wealthy citizens, devoted t. business,
| piety, charity. and good works, ali believing
| firmly IN the Christian religion, the Ten Com
maudments, John .. Jones: and tug Chemical
| Bank particularly the Chemical Bank. LIS re.
| lated that Robert McCoskrey undertook on enc
,, 1cr.-;.7i 10 prescribe Tor pain IA the side Of
| which Peter Goolet complained. Where IS the
| PAIN Poteri' Just here, N my left side " L.
| IL acutcf' "Nerv." IL eau cure II for you.
| Go immediately nome, open yodr iron safe,
| choose good big, fat, Juicy mortgage, unhut-
ton your vest. and lay II carefully on the anctel
part II that don't relieve YOU, nothing IN this
| world will" Uncle Robert has been calico
| away, but Uncle Peter still lives, hale, hearty
tough and wiry. On a capital of 100000, the
~. II a..