Lehman Brothers Collection - Contemporary Business Archives

Harvard Business School Baker Library Historical Collections

Lehman Brothers Collection

Twentieth-Century Business Archives

Chemical Corn Exchange Bank Deal - Lehman Brothers Collection

Chemical Corn Exchange Bank

Company Deal590,425 shares of capital stock
Transaction TypeCapital Stock
Deal DescriptionChemical Corn Exchange Bank used the proceeds from this transaction to increase its capital funds. The bank traditionally had increased its capital funds through retained earnings. However, as a result of its accelerated growth at the time of the deal, together with expanding credit requirements of industry at home and abroad, as well as the increasing importance, at the time, of New York City as the world's financial center, the bank was increasing its capital through the sale of additional shares of its stock.
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