On February 26, 1784, a meeting of the principal merchants and citizens was held at the Merchants’ Coffee House. General Alexander McDougal was chosen chairman, and it was unanimously decided to establish a bank. Subscription books were opened at the offices of John Alsop, Broadway, Robert Bowne, Queen Street, and Nicholas Low, Water Street, and the shares were rapidly taken. On March 15, 1784, the following officers were chosen: General Alexander McDougal, president; Samuel Franklin, Robert Bowne, Comfort Sands, Alexander Hamilton, Joshua Waddington, Thomas Randall, William Maxwell, Nicholas Low, Daniel McCormick, Isaac Roosevelt, John Vanderbilt, and Thomas B. Stoughton, directors; and William Seton, cashier. The bank commenced business at what was formerly the old Walton house in St. George’s (now Franklin) Square. It stood on the east side of Queen (now Pearl) Street, almost opposite the present establishment of Harper Brothers, the publishers. The building (erected 1752) will be remembered by many people to-day as it was only taken down in 1881, but its appearance during its declining years gave a faint idea of its original dignity. In 1787 the business of the bank was moved to Hanover Square, Isaac Roosevelt having been chosen president in 1786. In 1796 a lot was bought at the corner of Wall and William streets from William Constable for eleven thousand pounds (New York currency). Strange to say, there is no record of the dimensions of the lot, but the present building doubtless stands on part of it. Early in 1797 steps were taken to remove the house then standing and to put up a new building, and the corner stone was laid by Gulian Verplanck, then president, on June 27th. Mr. Verplanck died in 1799 and Nicholas Gouverneur was chosen president. The corner stone of the present building was laid on September 10, 1856, and the building completed in 1858.[11] [Illustration] St. Paul’s Chapel This chapel built in 1764–66 is the oldest church edifice in the city. The first rector was the Rev. Dr. Barclay, who was succeeded by the Rev. Dr. Samuel Auchmuty. The steeple is in the style of one of Wren’s designs. After the burning of Trinity in 1776, it was used as the parish church. The pews that during the war held Howe, André, the officers of the army of occupation, and the young midshipman who later became King William IV were, when peace was concluded, occupied by the former “rebels” Washington, Clinton, and their followers. After his inauguration, in the Federal Hall in Wall Street, Washington and the members of both houses came in solemn procession to St. Paul’s, where services were conducted by Bishop Provost, Chaplain of the Senate, and a _Te Deum_ was sung.