Bank of America - 1870's dated Classic Banking Stock Certificate - Great History
Inv# BS1260 Stock
Stock. Superb eagle vignette with a ship and train in the background! Rare! A Classic!!! Bank of America Private Bank (formerly U.S. Trust) was founded in 1853 as the United States Trust Company of New York. It operated independently until 2000, when it was acquired by Charles Schwab, and Co. and subsequently sold to, and became a subsidiary of, Bank of America in 2007. U.S. Trust provides investment management, wealth structuring, and credit and lending services to clients.
U.S. Trust was founded in 1853 and chartered by the State of New York. It is the first and oldest trust company in the United States. The venture was backed by a group of wealthy men who invested $1 million in the company, at the time named United States Trust Company of New York. The inaugural board of trustees included thirty prominent New Yorkers. Among the founding investors were Joseph Lawrence of the Bank of the State of New York and then Mayor of New York who was appointed president, and John Aikman Stewart of the United States Life Insurance Company of New York who assumed the role of Secretary. Other founders included inventor, philanthropist and industrialist Peter Cooper, department store founder Marshall Field, Shepherd Knapp, President of Mechanics National Bank of the City of New York, and railroad developer and iron and steel manufacturer Erastus Corning.
U.S. Trust was created as a financial company to serve both institutions and individuals by acting as executor and trustee of their funds. At a time when trusts were rare, the concept was innovative. By 1886 the company had established itself as a reputable and stable financial institution. Read more at https://en.wikipedia.org/wiki/Bank_of_America_Private_Bank
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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