Boatmen’s Bank

  • by George Bailey • Published: August 6, 2007

George Knight Budd founded Boatmen’s Bancshares, the oldest bank west of the Mississippi River. Derivative of Boatmen’s Savings Institution, the mission of Boatmen’s Bancshares Inc. was to provide banking and investment benefits to members of St. Louis’s working class. Budd was something of a visionary. Boatmen’s proved lucrative for the city of St. Louis fairly rapidly. Owing to numerous setbacks, such as the horrendous Cholera Epidemic of 1849 and the robbery of the bank’s safe in 1854, allegedly executed by the bank secretary Joseph Thornton, Boatmen’s endured some ups and downs throughout the 1850’s and 60’s, but it always recovered. Even Black Friday was not enough to do Boatmen’s in, and it remains today a leading banking competitor in the United States.

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Recent Contributions to this Article

Enter your contribution to this article here. George Knight /Budd was my great Grandfather. I know about him from my grandmother, Blanche Budd McFetridge and how she lived which reflected some of his ingenuity and intelligence. He was from a long line of successful philadelphians. They actually came to New Jersey in the middle 1600's and latter moved to Philadelpia. This early line of Budds were properous and trusted in the communities with financial enterprises. The very earthe ly Budd's (four brothers ) came to America after their father, William Budd who was the Vicar at Montachute who had become a Quaker was imprisoned because of his change to Quakerism and persecuted and died there. Consequently, many Budd's of the descending generations have had the character and strength to withstand many hardships in business world and in there communities. George Knight Budd epitomizes the integrity of his ancestors and of his descendants. I have more concrete facts about George Knight Budd and copies of paintings of him and his wife.
Posted by: Barbara Delacour on Jul 29, 2008 Unverified

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