FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 10 October 2015

Historical Echoes: The Woman Who Would Be Bank

from Liberty Street Economics

-- this post authored by Amy Farber

Mary Roebling (1904-94) was the first woman to serve as president of a major U.S. bank. (She was also the first woman governor of the American Stock Exchange, among numerous other honors.) According to a New York Timesobituary, she came into her position through a combination of happenstance and preparation:

Mrs. Roebling's own economic power came initially through inheritance, but she increased it vastly once it fell into her hands. She was bequeathed a large block of Trenton Trust stock by her millionaire second husband, Siegfried Roebling, whose family had long been prominent in engineering and cable manufacturing. He was a great-grandson of John A. Roebling, who designed the Brooklyn Bridge, and a grandson of Col. Washington A. Roebling, who completed its construction.

Siegfried Roebling died in 1936, of a heart attack. Mrs. Roebling's father and father-in-law then urged her to try her hand at running the bank. She had preparation for the job: she had worked for a Philadelphia investment house while taking business courses at night and, the two men told her, she had another important qualification, common sense.

The rest was banking history. She took her husband's seat on the bank's board and, on Jan. 21, 1937, was elected president.

Here's the fun part: she had 200 commemorative mechanical banks made in her image! (See alternate views andmoving images of other banks.) That's right - and the last time we looked, one was selling on eBay for over $1,300 and another on an auction site for over $1,800. Why were these banks made?

According to a 1967 issue of Hobbies Magazine,

she sets aside certain time to the avocation of collecting mechanical banks and has a deep interest in her collection. Sometime prior to 1963, the 75th anniversary of her bank the Trenton Trust, Mrs. Roebling came up with the idea of creating a mechanical bank to commemorate the occasion. She wanted the bank to have the characteristics of the old cast iron type and be made in the same fashion and material. This required a bit of ingenuity on her part, and to begin with she acquired the services of the well known sculptor, Anthony Greenwood of Philadelphia, Pa. He worked for some six months to develop the original idea and two working models were made. These at a later date completely and mysteriously disappeared.

It was decided by Mrs. Roebling to make a limited edition of 200 of the banks, each to be numbered. The Grey Iron Casting Company of Mt. Joy, Pa., made the bank from designs by J.E. Brubaker. The Mary Roebling-Trenton Trust mechanical bank was designed to symbolize the free enterprise system upon which our country's economy thrives - to commemorate 25 years during which Mrs. Roebling has served as President and Chairman of the Board of Trenton Trust - to show the bank's location, significant in historic times, as well as today, where it is the highest building in Trenton.

According to the descriptive entry for the bank on the website, here is how this mechanical bank works:

bank building with female figure seated in front in blue dress; lever on back activates woman's arm which "shovels" coins into the side of the building and then a sign saying "Trenton Trust" pops out of the top of the building like toast.

Here's a different description of the bank's mechanics from the Hobbies Magazine article (we like the detail about the movement of the head):

The bank operates as follows: A coin of any size, including a silver dollar, is first placed on the key as shown in Picture 1. The Trenton Trust sign on top of the building is then pressed down and it snaps into place (the bank is pictured with the sign up to better illustrate same). A lever, located to the back of the building, is then pressed down. Mrs. Roebling's right arm raises and moves forward causing the coin to slide from the key into the bank, Picture 2. At the same time her head turns toward the building and the sign atop the building springs into the position as shown. All parts except the sign return automatically to position on releasing the lever. The sign is again pushed down and the bank is ready for another coin.


The views expressed in this post are those of the author and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System. Any errors or omissions are the responsibility of the author.


About the Author

Amy Farber is a research librarian in the Federal Reserve Bank of New York's Research and Statistics Group.

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

You can also comment using Facebook directly using he comment block below.

Econintersect Contributors


Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Take a look at what is going on inside of
Main Home
Analysis Blog
Comments on Feyerabend’s ‘Against Method’, Part II
Comments on Feyerabend’s ‘Against Method’, Part III
News Blog
14 October 2016: ECRI's WLI Growth Index Insignificantly Declines
Mom Breaks Down In Tears When Son With Autism Meets Service Dog
Rail Week Ending 15 October 2016 Paints A Negative Economic View
What Is The New Normal For U.S. Growth?
Affordable Care Act And Its Effect On Part-Time Employment
The Speed Of Filling Jobs Is Declining
First Working Eggs Made From Stem Cells Points To Fertility Breakthrough
Infographic Of The Day: Mega Machines
Online Platforms Double Down On TV Programming
A History Of Mars Missions
How Tesla Out Innovates Traditional Carmakers
Schiaparelli's Descent To Mars In Real Time
September 2016 Existing Home Sales Still Not Excellent
Investing Blog
Options Early Assignment - Should You Worry?
The 401k Plan Manager 17 October 2016
Opinion Blog
Prop. 51 Versus A State-Owned Bank: How California Can Save $10 Billion On A $9 Billion Loan
Obama's Middle East Policy Has Been A Complete Failure - Or Has It?
Precious Metals Blog
How Will The Election Outcome Impact Precious Metals?
Live Markets
21Oct2016 Market Close: Major US Indexes Close Flat On Low Volume, Crude Prices Resume Climb, US Dollar Stabilizes In Mid 98 Handle, Yes, Most Investors Are Worried Which Way This Market Will Go
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved