page_title: Fourth National Bank of New York
section_title: History
hierarchical_section_title: Fourth National Bank of New York / History
caption_attribution_description: English: Title: The Panic - Run on the Fourth National Bank, No. 20 Nassau Street [New York City, 1873] Abstract/medium: 1 print&#160;: wood engraving.
context_page_description: The Fourth National Bank of New York was an American bank based in New York City.
context_section_description: The Fourth National Bank of New York was organized in January 1864.  At the time of its organization, many, including Secretary of the Treasury Salmon P. Chase, thought that "a bank of large capital should be organized under such favorable auspices as would result in demonstrating the utility of the National Banking System, and would induce banks existing under the State system to take out charters under the National Banking Act."  The Fourth National Bank was founded by many of New York's most eminent citizens, including Jay Cooke.
  The bank first opened its doors in the "old Government building" at 29 Pine Street. In 1866, however, the bank moved to a six-story white-marble building located at the northeast corner of Nassau and Pine Streets.
  In 1893, the capital stock of the bank was $3,200,000; a surplus of $1,350,000; it had net profits of $378,030; and average net deposits of $20,000,000.
  In August 1911, interests identified with the Fourth National Bank, took over the Fourteenth Street Bank, which then changed its name to the Security Bank.  A few weeks later, the new Security Bank merged with the Nineteenth and Twelfth Ward Banks.  In response to the takeover, Cannon testified before Samuel Untermyer during the Pujo Committee money trust hearings in 1911.
caption: "The Panic - Run on the Fourth National Bank, No. 20 Nassau Street"
exif: {"Image XResolution": "72", "Image YResolution": "72", "Image ResolutionUnit": "Pixels/Inch", "Image Artist": "Library of Congress", "Image YCbCrPositioning": "Centered"}