. S . ▁was ▁the ▁Bank ▁of ▁North ▁America ▁in ▁Philadelphia , ▁which ▁was ▁char tered ▁by ▁the ▁Cont inental ▁Congress ▁in ▁ 1 7 8 1 ; ▁Alexander ▁Hamilton , ▁Thomas ▁Jefferson ▁and ▁Benjamin ▁Franklin ▁were ▁among ▁its ▁found ing ▁share hold ers . ▁In ▁February ▁ 1 7 8 4 , ▁The ▁Massachusetts ▁Bank ▁in ▁Boston ▁was ▁char tered . ▁ ▁The ▁sh ipping ▁industry ▁in ▁New ▁York ▁City ▁ch af ed ▁under ▁the ▁lack ▁of ▁a ▁bank , ▁and ▁invest ors ▁env ied ▁the ▁ 1 4 % ▁divid ends ▁that ▁Bank ▁of ▁North ▁America ▁paid , ▁and ▁months ▁of ▁local ▁discussion ▁cul min ated ▁in ▁a ▁June ▁ 1 7 8 4 ▁meeting ▁at ▁a ▁coffee ▁house ▁on ▁St . ▁George ' s ▁Square ▁which ▁led ▁to ▁the ▁formation ▁of ▁the ▁Bank ▁of ▁New ▁York ▁company ; ▁it ▁operated ▁without ▁a ▁char ter ▁for ▁seven ▁years . ▁ ▁The ▁initial ▁plan ▁was ▁to ▁capital ize ▁the ▁company ▁with ▁$ 7 5 0 , 0 0 0 , ▁a ▁third ▁in ▁c ash ▁and ▁the ▁rest ▁in ▁mort g ages , ▁but ▁after ▁this ▁was ▁disput ed ▁the ▁first ▁offering ▁was ▁to ▁capital ize ▁it ▁with ▁$ 5 0 0 , 0 0 0 ▁in ▁gold ▁or ▁silver . ▁ ▁When ▁the ▁bank ▁opened ▁on ▁June ▁ 9 , ▁ 1 7 8 4 , ▁the ▁full ▁$ 5 0 0 , 0 0 0 ▁had ▁not ▁been ▁raised ; ▁ 7 2 3 ▁shares ▁had ▁been ▁sold , ▁held