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Chase Bank
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United States. The Manhattan Company was a New York bank and holding company established on September 1, 1799. The company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. It is the oldest of the predecessor institutions that eventually formed the current JPMorgan Chase & Co .
- 1955
- Chase Manhattan Bank
- September 1, 1799; 224 years ago
Jul 19, 2018 · The bill passed through with this clause on April 2, 1799, and the Manhattan Company was created to supply New York with "pure and wholesome water." This small, unassuming clause transformed what was intended to be a water system for New York into a bank. Burr intended to establish a bank all along.
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Aaron Burr Jr. (February 6, 1756 – September 14, 1836) was an American politician, businessman, lawyer, and Founding Father who served as the third vice president of the United States from 1801 to 1805 during Thomas Jefferson's first presidential term. He founded the Manhattan Company on September 1, 1799.
- George Clinton
- Thomas Jefferson
- Thomas Jefferson
- George Clinton
Jul 16, 2013 · Best known today for fatally shooting Alexander Hamilton in a duel, Burr was then a successful lawyer and politician. With his brother-in-law Joseph Browne, Burr proposed a private enterprise, the Manhattan Company, to supply the city with clean water. Burr worked diligently to gain both Federalist and Republican support for the plan.
Nov 25, 2019 · Nothing could be done to oust Burr’s Manhattan Company, the ostensible savior of the city’s water supply, as it was fulfilling its mandate of providing an eventual 691,200 gallons per day.
The Manhattan Company, JPMorgan Chase's earliest predecessor institution, is chartered by the New York State legislature to supply "pure and wholesome" drinking water to the city's growing population. Among its founders are Alexander Hamilton and Aaron Burr.
Burr convinced city officials that public funds would be inadequate to develop a suitable reservoir and aqueduct. He created the Manhattan Company (later to become Chase Bank) to serve the public as the sole supplier of water and took control of the city’s water system in 1799.
