June 14: ON THIS DAY IN HISTORY
ON THIS DAY IN 1895, the Brooklyn Daily Eagle reported, “This is flag day in the schools. By that is meant the anniversary of the adoption of the national colors. State Superintendent Skinner sent his notification too late to Superintendent Maxwell to have any good use made of it. Only in a few schools were becoming exercises held.”
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ON THIS DAY IN 1914, the Eagle reported, “The happenings of the past week herald the dawn of a new era in Brooklyn banking. The Mechanics Bank, the oldest and largest state bank here, under the spur of an awakened interest which certain large Manhattan stockholders have taken in Brooklyn as a field for banking development, has been revitalized into life and has embarked upon a policy of expansion of which the acquisition of the Nassau Trust Company is only the initial step. And the Franklin Trust Company, the fourth largest institution of its kind whose activities are confined within the limits of Brooklyn, has passed into the control of a powerful syndicate of men who represent varied financial and commercial interests here and in Manhattan. The great possibilities of Brooklyn as a banking center are beginning to be borne in upon the consciousness of the leading bankers of Manhattan as never before. This is due to two principal factors: the rapid growth in the population and wealth of Brooklyn and the enactment of the new Federal Reserve act. A third factor, perhaps, is the growing conviction among Manhattan bankers that the island of Manhattan, as a field for banking, does not permit of much, if any, further expansion.”