Citizens' National Bank of Washington City - 1903-04 dated Washington D.C. Banking Stock Certificate

Description

Stock printed by American Bank Note Co., New York. Scarce. The Citizens†National Bank of Washington City, a prominent 19th-century financial institution in the District of Columbia, was formally chartered on October 18, 1871, as the successor to Appleman & Co. Originally organized on October 2, 1871, it was officially renamed the Citizens†National Bank of Washington City, D.C. in 1874. The bank, situated at 615 Fifteenth Street NW, opposite the U.S. Department of the Treasury, was established in 1863 by financier Jay Cooke. Throughout its history, the bank played a role in the capitalâ€s expanding financial district, acquiring the West End National Bank in 1903. In late 1904, it merged with the National Metropolitan Bank, forming the National Metropolitan Citizens Bank of Washington, which continued to use the Citizens†building on 15th Street. The bankâ€s formal liquidation was finalized on November 7, 1904, ending its standalone existence. 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 discretion of the business, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.

Date First Available: ‎February 20, 2015