Professional And Industrial History of Suffolk County Massachusetts volume 2

Cover Professional And Industrial History of Suffolk County Massachusetts volume 2
Professional And Industrial History of Suffolk County Massachusetts volume 2
William Thomas Davis
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^, . , „, -, ^, < .. M t V First National Bank. Newton " " .. Newton, ) Boston Safe Deposit and Trust Co. , . Boston, , gtoneham National Bank, Stoneham, -National Bank of the Republic. First " " Woburn, ) BOSTON CLEARING-HOUSE. 387 Union Safe Deposit Vaults, Boston, _ South End National Bank, Old Colony Trust Co, Mattapan Deposit and Trust Co. , . South " Melrose National Bank, Melrose, . . National Union Bank. Globe National National Bank of Commerce. . Tremont National Bank. National Citv " Private banks were not formerly admitted to the privileges of the association, either directly or indirectly, these privileges being restrict- ed to incorporated banks. The only exception ever made until recent- ly was in the case of Way, Warren & Co. , doing business under the name of the Bank of the Metropolis, which, havang formerly been a member, was allowed in 1800 to clear through the Hide and Leather National Bank. The Clearing-house had been established only about a year and a half when the financial crisis of 1857 furnished an additional demon- stration of its necessity and usefulness.

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