Aaron Burr Built His Bank Here

Manhattan: Financial District/
40 Wall St.

Aaron Burr worked with Alexander Hamilton and others to obtain a charter for the Manhattan Company, with the stated goal of bringing fresh water to residents of lower Manhattan. Hamilton pulled out of the venture, however, when Burr inserted a provision allowing the company to employ its excess capital, in direct competition with Hamilton's Bank of New York. The Bank of the Manhattan Company, which started in a small house on this site, built the current building on the site in 1930. The bank merged with Chase National in 1955 to become Chase Manhattan Bank (now part of JP Morgan Chase).

Posted May 23, 2013 by gstavrou

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