PRESENT ORGANIZATION AND POLICY OF THE BANK

In 1853 the Manhattan Company became one of the original members of the
New York Clearing House Association, and stands, in order of seniority,
No. 2 on its roll.

From 1853 down to 1880, the Manhattan Company's deposits averaged
between $3,000,000 and $5,000,000. The deposits doubled during the
eighties, again during the nineties, and again in the decade ending
1910. This growth has been made along healthy and normal lines, and not
by absorbing or consolidating with other banking institutions. The fact
that the Manhattan Company is an entirely independent institution has
doubtless assisted its growth in recent years.

The steady increase in both the deposits and the surplus of the
Manhattan Company is evidence of its vitality, its sound banking
traditions and its ability to keep its methods so modernized as to give
efficient service to its widening circle of clients. To meet both its
own needs and those of its commercial and banking patrons, well
organized credit and foreign exchange departments are maintained.

[Illustration: Building of the Manhattan Company
WALL STREET IN 1860]

The Manhattan Company, acting as the reserve agent of many State banks
and trust companies throughout the country, has a substantial volume of
bank deposits. But it was originally established as an "Office of