View source for Straus National Bank and Trust Company (New York City)

{{distinguish|Straus National Bank and Trust Company (Chicago)}}
{{Infobox company
| name = Straus National Bank and Trust Company
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| industry = [[Financial industry|Financial]]
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| fate = Absorbed on September 15, 1931, by the [[Continental Bank and Trust Company of New York]]
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| hq_location_city = [[New York City]]
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| key_people =  C. Howard Marfield (president)
| services = General commercial, savings bank, and trust business
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| ratio = <!-- Basel III ratio, for BANKS ONLY -->
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The '''Straus National Bank and Trust Company''' was a financial institution based in [[New York City]]. Founded in In 1928,<ref name=nyt-dieailing/> in 1931 it merged with the [[Continental Bank and Trust Company]] in New York.<ref name=nyt-votesdeal/>
==History==
===1928-1930: Founding and growth===
In 1928 the Straus National Bank and Trust Company was formed, with executives such as H. S. Martin joining from the former S. W. Straus & Co.<ref name=nyt-dieailing>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=H. S. Martin Dies in Nine Story Fall; Head of the Ambassador Hotel System Plunges From a Window of Park Avenue Home. He had Long Been Ailing - Executive of S.W. Straus & Co.--Turned Over $1,000,000 Garment Business to Employees in 1923. |url-access=subscription |url=https://www.nytimes.com/1930/01/15/archives/hs-martin-dies-in-ninestory-fall-head-of-the-ambassador-hotel.html |work=[[The New York Times]] |date=January 15, 1930}}</ref> The company made its first report in January 1929.<ref name=nyt-firstreport>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Straus Bank Makes First Report |url-access=subscription |url=https://www.nytimes.com/1929/01/04/archives/straus-bank-makes-first-report.html |work=[[The New York Times]] |date=January 4, 1929 |access-date=December 5, 2017}}</ref> Founder Simon W. Straus died on September 7, 1930.<ref name=nyt-estate>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=S. W. Straus Estate is Put at $4,738,091; Transfer Tax Appraisal Filed on Net of Mortgage Banker Who Died in 1930 |url-access=subscription |url=https://www.nytimes.com/1944/06/21/archives/sw-straus-estate-is-put-at-4738091-transfer-tax-appraisal-filed-on.html |work=[[The New York Times]] |date=June 21, 1944 |access-date=December 5, 2017}}</ref> In December 1930, Straus was replaced as head of Straus National Bank by C. H. Marfield.<ref name=nyt-marfield>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=C. H. Marfield Heads Straus National Bank; Was in Banking Here Before Going to Chicago--Takes Place of S.W. Straus. |url-access=subscription |url=https://www.nytimes.com/1930/12/30/archives/ch-marfield-heads-straus-national-bank-was-in-banking-here-before.html |work=[[The New York Times]] |date=December 30, 1930 |access-date=December 5, 2017}}</ref>
===1931: Absorption by Continental===
On August 3, 1931, it was reported that on September 16, the merger of [[Continental Bank and Trust Company]] and Straus National Bank and Trust Company, both of New York, and the acquisition “by the merged bank of the [[International Trust Company]], subject to ratification by stockholders,” would be effective.<ref name=nyt-basis>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Basis Is Worked Out For Merger of Banks; Union of Continental and Straus and International Trust Acquisition Due Sept. 16. |url-access=subscription |url=https://www.nytimes.com/1931/08/03/archives/basis-is-worked-out-for-merger-of-banks-union-of-continental-and.html |newspaper=[[The New York Times]] |date=August 3, 1931 |access-date=November 1, 2017}}</ref> On September 4, 1931, Straus National stockholders approved the proposal.<ref name=nyt-votesdeal/> The consolidation was effective on September 15, 1931,<ref name=nyt-straus/><ref name=nyt-votesdeal>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Straus Bank Votes Deal |url-access=subscription |url=https://www.nytimes.com/1931/09/05/archives/straus-bank-votes-deal.html |newspaper=[[The New York Times]] |date=September 5, 1931 |access-date=November 4, 2017}}</ref> and the merged institution acquired certain assets of the International Trust Company. The Continental in its enlarged form opened the morning of September 16, 1931. Chairman of the consolidated bank was Frederick H. Hornby, who had formerly been president of Continental. President C. Howard Marfield was of Straus National as former president.<ref name=nyt-straus>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Straus Bank Joins With Continental; Merged Institution Acquires Certain of the Assets of International Trust. DOld Personnel Retained - Capital Funds Set at $11,000,000, including $6,000,000 Surplus and $1,000,000 Reserves. |url-access=subscription |url=https://www.nytimes.com/1931/09/16/archives/straus-bank-joins-with-continental-merged-institution-acquires.html |newspaper=[[The New York Times]] |date=September 16, 1931 |access-date=November 1, 2017}}</ref>
==See also==
*[[List of bank mergers in the United States]]
*[[Banking in the United States]]
==References==
{{reflist}}
[[Category:Defunct banks of the United States]]
[[Category:Banks based in New York City]]
[[Category:Defunct companies based in New York (state)]]