The policy of semi-weekly meetings still prevails in the Manhattan
Company, and its Board of twelve Directors keeps in close touch with all
its affairs.
[Illustration: MANHATTAN COMPANY CURRENCY]
Two months after the Bank was opened the Directors
RESOLVED, That a committee be appointed to visit
the vaults and examine the cash and look over the effects of
the Manhattan Company deposited therein.
Thus, at the outset, the Manhattan Company required its Directors
periodically to examine its cash and securities, a safeguard which, 106
years later, the State of New York made compulsory for all State banking
institutions.
The Bank of the Manhattan Company was profitable from the start and
commenced paying dividends in July 1800. The total dividends to and
including January, 1913, have aggregated $19,726,000.
[Illustration: FRACTIONAL CURRENCY USED IN UTICA]
Although the main office of the Bank has always been at the present No.
40 Wall Street, in the autumn of 1805 all the banks moved temporarily to
the Village of Greenwich to escape the usual autumn fever epidemic. The
Directors then determined to provide a country office for use during the
"sickly season.
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