About: Consolidated National Bank

Consolidated National Bank of New York was a bank operating in New York City. Also referred to in the press as Consolidated National Bank, the institution was organized on July 1, 1902, with capital of $1 million. Wrote The New York Times, the bank was "founded with the idea of cornering the business of the Consolidated Exchange and its brokers." The bank opened for business at 57 Broadway on September 22, 1902, and a year later the bank took out a five-year lease at the Exchange Court Building. In 1906, the Consolidated Stock Exchange withdrew its deposits with the Consolidated National Bank. In 1909, the bank voted to acquire the assets of Oriental Bank and merge them with Consolidated, creating the National Reserve Bank. The Consolidated name was operative for a short time afterwards.