9/19/2023 0 Comments Bank of america foundedOn the morning of April 18, 1906, a massive earthquake hit San Francisco. Moreover, the money would earn interest at his "Bank of Italy." He persuaded "unbanked" immigrants that gold and silver coins were safer in vaults than under mattresses. The novice financier knocked on doors and buttonholed people on the street. At the time, big banks lent only to large businesses, handled deposits of the wealthy, and frowned on aggressive advertising. At age 34, he launched a small bank in the Italian neighborhood of North Beach, San Francisco. Giannini began by selling fruits and vegetables from a horse-drawn wagon. The son of Italian immigrants had an outsized personality and unlimited faith in the American dream. (Bank of America Historical Collection)Īmadeo Peter Giannini was born in San Jose, California in 1870. It included a large block of stock in North Beach's first Italian bank. Instead, they enlisted the talented Giannini to manage the property. When Giannini's father-in-law died in 1902, his widow and 11 children did not divvy up his $1 million estate. Called "the handsomest man in North Beach," the 22-year old produce merchant married the daughter of the Beach's richest man.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |