:Mutual Alliance Trust Company

{{Infobox company

| name = Mutual Alliance Trust Company

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| industry = Financial

| genre = Trust company

| fate = Liquidated by Chatham-Phenix National and Alliance Trust

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| successors = Chatham-Phenix National and Alliance Trust

| founded = {{start date and age|1902}} in New York City, United States

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| defunct = {{end date and age|1915|01|14}}

| hq_location = Manhattan

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The Mutual Alliance Trust Company was a trust company formed in New York City in 1902, with founders such as Cornelius Vanderbilt III and William Rockefeller.

On January 14, 1915, the company was acquired by Chatham-Phenix National and Alliance Trust in New York.

History

=Formation=

At the end of April 1902, H. M. Humphreys resigned from his positions as superintendent of the Coffee Exchange to become vice president of the newly formed Mutual Alliance Trust Company.{{Citation

| date =April 23, 1902

| title =To Leave the Coffee Exchange

| work =The New York Times

| publication-place =New York

| page = 9

| url =https://www.nytimes.com/1902/04/23/archives/bell-telephone-cos-stock-increased.html

| accessdate =January 23, 2017

}} On May 1, 1902, the New York Times reported the details of the newly formed Mutual Alliance Trust Company. It was organized by Cornelius Vanderbilt, William Rockefeller, and "a dozen more well-known men" with $1,000,000 in capital. Its initial place of business was an office at Orchard and Grand Streets in New York City. Kalman Haas was founding president, and Henry M. Humphrey vice president.{{Citation

| date =May 1, 1902

| title =New East Side Trust Company - Vanderbilt and Rockefeller Capital to be Used on Grand Street

| publisher =The Wall Street Journal

| publication-place =New York

| page = 11

| url =https://www.nytimes.com/1902/05/01/archives/article-8-no-title.html

| accessdate =January 23, 2017

}} It opened for business on the Tuesday after June 29, 1902, as a general trust company on the east side of Manhattan. There were 13 directors upon its founding.{{Citation

| date =June 29, 1902

| title =Mutual Alliance Trust Co.

| work =The New York Times

| publication-place =New York

| page = 35

| url =https://www.nytimes.com/1902/06/29/archives/bullion-and-mining.html

| accessdate =January 23, 2017

}}

=Acquisition of National Reserve Bank=

On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, which was then based at 35 Wall Street. The two companies had previously been affiliated and had shared directors. Deposits of the merged institutions was about $12,000,000. The National Reserve was liquidated, and its stockholders received the value "of the assets exceeding the amount of the deposits and a substantial payment for the good will of the institution." James H. Parker was appointed president of the combined institution. Those of the National Bank Reserve were about $4,352,561 on January 13, 1914. At the time of the merge, the New York Times wrote that "both institutions have a large number of country bank accounts, chiefly in the West and Southwest, and handle much cotton exchange business." For a time, the office of the National Bank Reserve at 165 was continued as the Reserve Branch of the trust company.{{Citation

| date =January 28, 1914

| title =Mutual Alliance Takes Over Bank; National Reserve Office Will Continue as Branch of Trust Company.

| work =The New York Times

| publication-place =New York City

| page =12

| url =https://www.nytimes.com/1914/01/28/archives/mutual-alliance-takes-over-bank-national-reserve-office-will.html

| accessdate =January 19, 2017

}}

=Liquidation=

In January 1915, there were negotiations for Chatham and Phenix National to buy and liquidate the Mutual Alliance Trust Company in its entirety.{{Citation

| date =January 10, 1915

| title =Bankers Lay Plans for Triple Merger; Chatham and Phenix National to Buy and Liquidate Mutual Alliance Trust Company. Favorable Vote Expected. If Deal Goes Through, Two of Trust Company Branches Will Be Sold to the Century Bank.

| work =The New York Times

| publication-place =New York

| page =13

| url =https://query.nytimes.com/gst/abstract.html?res=9E0CE1DF153BE233A25753C1A9679C946496D6CF&legacy=true

| accessdate =January 20, 2017

}} The merger was completed on January 14, 1915.{{Citation

| date =January 15, 1915

| title =$32,000,000 Merger of Banks Effected; Sum Represents Deposits of Chatham-Phenix National and Alliance Trust. Terms Not Made Public. Century Takes Over Branches -- $10,400,000 of Assets Moved After Business Hours.

| work =The New York Times

| publication-place =New York City

| page =5

| url =https://www.nytimes.com/1915/01/15/archives/32000000-merger-of-banks-effected-sum-represents-deposits-of.html

| accessdate =January 20, 2017

}}