Business: Manhattan Report

The second oldest bank in Manhattan first opened for business at No. 40 Wall Street in 1799. Unable to obtain a bank charter from a New York legislature which was under the thumb of Alexander Hamilton, a slick politician named Aaron Burr wangled a charter for a concern to supply the City of New York with "pure & wholesome water." As all the world now knows, there was tucked away in that charter a harmless-looking clause permitting The Manhattan Co. to transact any financial business within the...

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