Days and ways in old Boston . among American financial institutions. In 1847its capital was $800,000, and its surplus and de-posits were $1,402,194. In 1914 the capital andsurplus were $2,000,000 and the total resources$12,723,265. The Merchants National Bank was establishedas a state bank in 1831. It occupied the oldUnited States Bank building on State Street andthe present Merchants Bank building is locatedon the same site. In 1847 the total resourceswere $6,820,000, which had grown in 1914 to thegenerous figure of $46,000,000. Largest of all Boston nationalbanks, the Shawmut has attainedtha
Days and ways in old Boston . among American financial institutions. In 1847its capital was $800,000, and its surplus and de-posits were $1,402,194. In 1914 the capital andsurplus were $2,000,000 and the total resources$12,723,265. The Merchants National Bank was establishedas a state bank in 1831. It occupied the oldUnited States Bank building on State Street andthe present Merchants Bank building is locatedon the same site. In 1847 the total resourceswere $6,820,000, which had grown in 1914 to thegenerous figure of $46,000,000. Largest of all Boston nationalbanks, the Shawmut has attainedthat position in part throughsuccessful management and in partby consolidation. It was estab-lished as a state bank in 1837. Thepaid up capital in 1847 was$500,0C0, and total resourcesamounted to $1,212,729. In 1914 capital and surplusamounted to $15,000,000 and total resourcesexceeded $116,000,000. Among the trust companies, a form of bank-ing enterprise which has now become very im-portant, the Old Colony leads in magnitude141. Days and Ways in Old Boston of resources and influence. This great institutionwas established in 1890, and in 1914, with twobranches and ten distinct departments, it reportedresources of over $100,000,000. This review of the development of bank-ing and investment, especially since 1847, wouldnot be complete without reference to manifesta-tions of the early investment tendencies of thefathers among the Boston financiers of of property naturally brings with itconservatism. The skill and daring with whichthe founder of a fortune risked his all and wonmay not be inherited by his sons and grandsons,and whether it is or not, new conditions andlack of the necessity for aggressive action allresult in lessened initiative and increased caution. Naturally in Boston, which has large inheritedwealth, these conditions are plainly they tend to make a community non-progressive, to dishearten the active and ambi-tious, and to drive such
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Keywords: ., bookcentury1900, bookdecade1910, bookpublisherbosto, bookyear1915
