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Jp Morgan Chase History

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Back ground of organization
JPMorgan Chase & Co has one of the longest histories in the financial banking institutions in the United States. There are a multitude of banking Firms that are associated with the organization to include but is not limited to: J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, and the Cazenove Group just to name a few of the more reputable organizations. Each of the banking firms, in its own time, was or is closely tied to innovations in finance and the growth of the U.S. and global economies.
History of Organization
JP Morgan Chase traces its roots back to 1799 in New York City as …show more content…

1804 In the now infamous duel, the Manhattan Company founder Aaron Burr shot and killed Alexander Hamilton over personal and political differences.
1823 New York City merchants utilize the New York Chemical Manufacturing company to produce chemicals, medicines, paints and dyes, which is the earliest predecessor in the Chemical Banks corporation tree. In 1824 The Chemical Bank officially opens.
1842 The Manhattan Company halts operations when New York City established municipal water supply.
1859 The Bank of Manhattan Company funds the construction of the Erie Canal through both loans and bonds.
1871 J. Pierpont Morgan, Sr. and Drexel formed private merchant banking partnership in New York, called Drexel, Morgan & Co.
1877 a New York banker named John Thompson formed Chase National Bank, named after former Secretary of the Treasury under President Abraham Lincoln.
1880 Drexel, Morgan & Co finances the completion of the Northern Pacific Railroad.
1883 The Brooklyn Trust Company, a JP Morgan Chase predecessor, finances most all of the $15 million needed in its construction. (JPMorgan Chase &

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