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The Hanover Bank: A Classical GemNo. 35, East Seventy-second Street
Passing by, as I sometimes do, the Chase branch bank at East 72nd St., I think to myself “There’s a fine establishment, in which I should keep my money”. The thought never jumps from theory to practice, however, as I am a patriot in everything but finance, and keep my florins safe with the Hongkong & Shanghai Bank instead. Nonetheless, it’s a handsome building, and the Central Hanover Bank & Trust Company should be commended for erecting it. Central Hanover merged with the Manufacturers Trust Company in 1961 to form Manufacturers Hanover (“Manny Hanny”), which was taken over by Chemical Bank in 1991, which was acquired by Chase Manhattan Bank in 1995, which merged with J.P. Morgan in 2000, and the consumer & commercial banking arm of J.P. Morgan Chase & Co. is now simply known as “Chase”. While the original Chase National Bank was only formed in 1877, with all these mergers and acquisitions, “Chase” can now trace its lineage back to the foundation of the Bank of the Manhattan Company in 1799, the second oldest bank after the Bank of New York. But — would you believe it? — “Chase” is now headquartered not in the hallowed caverns of Wall Street but — wait for it — Chicago, Illinois!
This post was published on Saturday, October 25th, 2008 8:02 pm. It has been categorised under Architecture New York and been tagged under Architecture, Finance, New York, Upper East Side. Click here to view comments or respond.
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11 Comments so far
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1:43 pm
I am a little baffled as to why you write that “J.P. Morgan Chase & Co. is now headquartered not in the hallowed caverns of Wall Street but — wait for it — Chicago, Illinois!” Their headquarters are on Park Avenue in New York City. See http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/about/history
3:16 pm
Forgive me, I meant that Chase (not J.P. Morgan Chase & Co.) is headquartered in Chicago, and have duly corrected it.
9:08 am
The most telling part of this latest posting is the final photograph. From the left: a decent apartment block from 1900 or so, the bank, two ordinary but pleasing brownstones, and then a particularly detestable example of the cheap and shoddy product of modern New York and its greedy masters.
How they do debase everything which comes within their ken.
9:36 am
There is nothing to forgive, Mr. Cusack. I have been in the mood to be “helpful” lately.
Do you think that Chase can be prevailed upon to get rid of those blue awnings, though?
As for that “particularly detestable example of the cheap and shoddy product,” will we find it more agreeable in fifty years, should it stand so long?
9:39 am
As for that “particularly detestable example of the cheap and shoddy product,” will we find it more agreeable in fifty years, should it stand so long?
No.
10:53 am
I second the sentiment on the blue awnings, they’re hideous!
I don’t condone violent activities, but if I happened to see any of those radicals from the Classical Architecture Movement of the People (CAMP) setting fire to those awnings or simply removing them, I would look the other way, and suffer a sudden memory loss if questioned by the police!
8:08 pm
Mr. Flâneur,
Perhaps it would be agreeable if those readers of this blog who live in or near New York City were to gather on a weekend afternoon at some public house and then emerge therefrom to stroll for a bit through the neighborhood, animadverting on the architectural sights (and upon each other’s animadversions), after which to repair again to some other tavern for perhaps well-needed spiritual refreshment. I could bring my Sir Banister Fletcher for possible reference, provided I didn’t have to carry it the entire time. Is there any interest? If so, and with Mr. Cusack’s consent, perhaps I could make the preliminary arrangements.
10:52 pm
And here is another Chase branch, fitted out to possibly even more ridiculous effect: href=”http://www.brownstoner.com/brownstoner/archives/2008/07/big_bank_on_mon.php”>http://www.brownstoner.com/brownstoner/archives/2008/07/big_bank_on_mon.php.
10:57 pm
Sorry, I meant to say:
And here is another Chase branch, fitted out to possibly even more ridiculous effect:
http://www.brownstoner.com/brownstoner/archives/2008/07/big_bank_on_mon.php
5:15 pm
In point of fact, it was the Chemical Bank which acquired Chase Manhattan and changed the name of the combined entity to Chase because that name was more widely known and hence easier to market.
7:01 pm
I always thought that “Chemical Bank” was a dangerously exciting name.