Suffolk Bank (Boston, Mass.)

The Suffolk Bank of Boston, Mass., was first incorporated in 1818. At this time the banks in Boston were greatly inconvenienced by the depreciated bills of the country banks. The Suffolk Bank developed the clearing house system whereby those bills were returned to the banks to be redeemed in specie. In 1864 the Suffolk Bank became a national bank. On January 24, 1902, the Suffolk National Bank and the Washington National Bank consolidated and reorganized as the National Suffolk Bank. In September 1903, this corporation liquidated, and the Second National Bank of Boston assumed the assets and liabilities.

From the guide to the Suffolk Bank (Boston, Mass.) records, (inclusive)., 1818-1904, (Baker Library, Harvard Business School)