The New York herald., 1878-08-08

fokh AND The eECoND oLDESI IN THE
UNITED STATS.
The directors OF the Bank OF New York have con.
sdcred Judcious to reduce their capital stock IRON
So 0OO. 600 TO $4,000, O00 and consequence have
sent the following circular to the stockhcIders:-
TnE BANK OF NEw YoGK. }
NArosAL pASKise ASSOCIATION.
DEAR sra-The following copy o u resolution OF the
Buara OF Directors. adopted tnis aAy:-
qaenes Of ias heavy tasatcs edrs ois state and
.y .sso0s snosa.9s ~. .s ys.r to s15 5v or eyss
,sss' l. aessaee % 20 s 1ssee es capita .soe< OF the
shares that the p'e.iaent cashier be they
hereoy .athofned ana instructed to take the requisite
snd consent OF tue stockncdors therefor
ducton Of capital At oil 10 be called
iol taat purpose you approve Of tne measure please
X. Is. FERRIS. Cashier.
HISTORY OF THE BANK.
The Bank of Now York Is tue oldest IN tho city OF
New York, anu with one exceptien-viz, the Bang
Nortu America, In Philadelphia the oldest In th
Un,lea sates was In existence i've years previou
20 the EQUALIZATION oi the iederai with
tsvras Wssniuston as PrssiosnL iue B,uk O, N.S
YORK was starred on June o. 1884 and therefore. IN
six years Will have competed the nrst century s
existence. Business Was commsncsd IN the Walton
known as Nv. 100 Queen street. Tho lrst president
vas General AeAsadsr McDoass,I ana the arss
vslt was elected president. wnlam Max
well vice pres'dcnt, aud samuel Franklin
Nicholas Law, Dauiei Mccormick. Robert
bourne, Thomas stoughton, Joshua Wsddiagto on,
Comiort sands, Thomss Randall, Gsneral Alexander
Hamilton, John Vanderbilt and samuel Bucuanau
were chosen directors. Ine DO0kksepsr was Peer
Hughes; the paying teller, Charles Wilkes, ana tho
RECEIVING teller, DAVID Reedy Tne oabk suose-
quvutly removed to Haaovcr square, where ~ con-
tinued us BUSINESS NJ au assOca t0n uutn 1891 On
Marcn II OF tnat year they obiaued n euarter IRON
the Legislature oil tue S,a,e OF New YORK Tor periou
OF twenty years, with capital OF 1900 0OO, divided
into 500 saaros OF $500 eaca. with tue aadiion OF
subscription tbe part 0i tue State oil 100
same mount, maxng togs,asr $500, 00O On the 2o,h
OF May 1884, business began unasr tnis charter and
tue a. 81 president Was Guiian Verplanck and the
CASHIER wilam seton. On Apri b, IsO5, its cnarter
was extended to May, 1870, sni Juue z 1887, It's
capital increased 10 81 U0U,0 900 py subseIi
tue part tue State oi x50,O0O vi winch $40 900
Tor the use of common scnoos; $4,000 Tor
Union College. ana $l5, 900 Tor HamoG Jo,lvgs. he
last renewal oi the charcr was graDted by the Legs-
ialuio Janusry 70, 1884, when extended u 20 Janu-
airy 1, 1868 On the ia o. November. 1885, the lot
tn corner oil Wall anu Wiian streets, wsero The
bank now Stands, WAS purchased from Wiliiam Con-
stable for $2i5O0. ihe bank put up "a buildIu aud
removed 10 II on the 23d oi April, 1893 his
torn down III 1857 aud The present erected
A. the chartef IRON tue S.ste expired ou sce
81, 1852, he aircctvrs held meeting the lst OF
May oil tnat year. ana uccided 10 CONTINUE the bank
su associatlon unasr tns general Dsuklpg iaw VI
The state, ~t.u the nams aud ,ts o tue Ban. Nov
YORK; auo ordered articles oi assoriatiun bc pre-
pared Tor tDst purpose. they Screaseu the capital
stock 700, divided lntv0y QUO shares oil e00
each Suvsorip.ions were commsncsi ON June ~ .nd
compls.sd N tho course sf ths ysar, s tns ssock.