[Illustration: OLD WATER GATE DUG UP IN PARK ROW IN 1900]
FOUNDING AND EARLY HISTORY OF THE BANK
On April 17, 1799, a committee of the Directors was appointed
"to consider the most proper means of employing the capital
of the Company."
The committee reported on June 3, 1799, in favor of opening an office of
discount and deposit, and a house was bought on the site of the present
No. 40 Wall Street, in which, on September 1, 1799, the "Bank" of the
Manhattan Company began business.
The following is one of the earliest advertisements, reproduced from the
Mercantile Advertiser, October 9, 1799:
MANHATTAN COMPANY.
The Office of Discount and Deposit will open for the
transaction of business, for the present, at 10 o'clock in
the forenoon, and continue open until 3 o'clock in the
afternoon, when the business of the day will be closed.
HENRY REMSEN, Cashier.
September 24.
[Illustration: WALL STREET IN 1803
Present No. 40 Wall Street]
The first action of the Directors after the opening of the Bank was:
RESOLVED, That this Board will hereafter meet twice
a week, to wit, on Mondays and Thursdays of each week, at 11
o'clock.
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