Hanover Corporation Manufacturer , is the parent company of the bank formed as the parent of the Hanover Trust Company Manufacturers, a large New York bank formed by the merger in 1961. After 1969, the Hanover Trust Manufacturers became a subsidiary of the Hanover Manufacturers Corporation.. Charles J. Stewart is the company's first president and chairman.
The corporation acquired the former headquarters of Union Carbide Corporation on 270 Park Avenue, and despite joining Chemical Banking Corporation for $ 1.9 billion in 1991, the replacement companies to date J.P. Morgan Chase & amp; Co continues to search for their headquarters in the building.
Video Manufacturers Hanover Corporation
History
Manufacturers Believe Companies
The Hanover manufacturer traces its origins to the 1905 founder of the Citizens Trust Company of Brooklyn. Through a series of acquisitions, the bank will grow into one of the largest banks in New York within the first twenty years. The first major acquisition of Citizens Trust came with a merger with Brooklyn Broadway Bank in 1912 and then two years later with Manufacturer National Bank of Brooklyn (1914). In 1915, the bank adopted the name of the older "Manufacturer", changing its name to the Manufacturer's Trust Company. The name "Manufacturer" has been in use since 1858, when Mechanics' Bank of Williamsburgh (founded 1853) was renamed National Bank Manufacturer. Incidentally, the Manufacturers Trust Company is also a Brooklyn-based bank name, founded in 1896 and acquired in 1902 by Title Guarantee and Trust Company, another Brooklyn bank.
Manufacturers of the Trust acquired Manhattan by acquiring West Side Bank of New York in 1918. Then Manufacturers Trust acquired Ridgewood National Bank of Queens (1921), North Side Bank of Brooklyn (1922), New York Industrial Bank (1922), Bank Columbia New York (1923), and Yorkville Bank of New York (1925), became the 29th largest bank in the United States in 1925.
In 1932, Manufacturers Trust created the National Hotel Management Company (NMH) to centrally supervise mortgage-backed hotels. They pointed to the pioneering hotel of Ralph Hitz as President of NMH. This is because, even at the height of the great depression, Hitz has been able to generate profits at the New Yorker Hotel, which is also held by the Manufacturers Trust. At the time of Hitz's death in 1940, NHM has become the largest hotel organization in the United States and manages New Yorker, Lexington and Belmont Plaza (New York) hotels; Congress Hotel (Chicago); the Netherland Plaza (Cincinnati); Adolphus Hotel (Dallas); Van Cleve (Dayton); Book-Cadillac (Detroit); Hotel Nicollet (Minneapolis); New York City Airport Restaurant (New York) and Eastern Slope Inn (North Conway, New Hampshire).
The National Hotel Management Company was dissolved within a month of Hitz's death in 1940.
Advanced Consolidation (1961-1992)
In 1961, Manufacturers Company Trust merged with Central Hanover Bank & amp; Trust Company (Hanover Trust) created the Hanover Trust Company Manufacturers. Banks become the main source of financing for check liquefaction stores. The bank reached its commercial glory in the mid-1970s, when he ran a series of ads using taglines, "It's banking as you wish." Twilight Zone writer Rod Serling and comedian Paul Lynde served as celebrity spokesperson. At the same time, Hanover billboard advertisement "Super Checking" is a prominent feature of the newly renovated Yankee Stadium. Also during that period, Hanover Producers strongly promoted "Any Car" Loan using "Any Car", known as "FordChevAmChrysWagon", consisting of parts from 40 different cars.
In 1987, the bank bought several branches of Dollar Dry Dock Savings Bank. In 1992, he bought the failed New York City branches of Goldome. In 1992, it ran out of money because the interest rate of savings and credit accounts stalled. On June 22 of that year, Chemical Bank purchased an operation from the Hanover Trust Company Manufacturer, and on that day, Hanover Manufacturing no longer exists.
After the merger with Chemical, in 1996, Chemical purchased Chase Manhattan Bank and four years later will join J.P. Morgan & amp; Co. to form JPMorgan Chase.
Before the acquisition, the bank was sometimes referred to as "Manny Hanny."
The merger timeline and name change
The time line below, unless otherwise stated, indicates the purchase of an entity named by the Hanover Corporation Manufacturer or its direct controlling predecessor. Exceptions include first and last entries (original charter and company dissolution with purchase, respectively), and some name changes.
Central Hanover Bank & amp; Company Trust
The company's final name is Manufacturers Hanover Corporation, and a major banking subsidiary is the Hanover Trust Manufacturers. This name is the result of the merger of the Manufacturers Trust's predecessor with Central Hanover Bank & amp; Trust.
Central Hanover is also a big and famous bank before the merger. It was formed in 1929 from the merger of two other banking giants at the time, the Central Union Trust Company and Hanover National Bank.
Hanover National built one of New York's early skyscrapers, the Hanover National Building at 11 Nassau Street. It has twenty-two floors and is 385 feet tall.
The history of Hanover Bank's predecessor is as follows:
- 1851 - Established Hanover Bank, NYS Charter
- 1865 - Change name to Hanover National Bank of City of New York (Federal)
- 1929 - Change name to Hanover Bank of New York City (NYS)
- 1929 - Purchased by the Central Union Trust Company in New York (see below)
The history of the predecessor company of Central Union Trust Company is as follows:
- 1873 - Established the Central Trust Company in New York
- 1901 - Continental National Bank of New York (approx. 1853)
- 1912 - Gallatin National Bank of the City of New York (estimated 1829)
- 1918 - Union Trust Company in New York, renamed Central Union Trust Company in New York
- 1927 - Greenwich National Bank of the City of New York (approximate 1830)
- 1929 - Hanover Bank of New York City, renamed Central Hanover Bank and Trust Company
- 1951 - Changed its name to Hanover Bank (no merge)
- 1961 - Purchased by Trust Companies Manufacturer
Maps Manufacturers Hanover Corporation
See also
- Enterprise portal
- List of bank merges in the United States
References
Note
Bibliografi
Source of the article : Wikipedia
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