Table of Contents
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Archives and Special Collections Finding Aids
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| Collection |
| Title: | Asa S. Knowles papers |
| Dates: | 1836-1990 (bulk 1920-1983) |
| Call Number: | M20 |
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Historical Note
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Asa S. Knowles (1909-1990) was an educator, dean, university president, and chancellor. He served as President of the Associated Colleges of Upper New York from 1946 to 1948, as Vice President of University Development at Cornell University from 1948 to 1951, as President of the University of Toledo from 1951 to 1958, and as President, and later as Chancellor, at Northeastern University from 1959 to 1981. In addition Knowles served on a number of civic and educational boards pertaining to business and higher education. He was on the board of directors of Shawmut Bank of Boston, N.A. from 1961 to 1989(?) and on the board of directors of Shawmut Corporation from 1965 to 1989(?). Due to his long-term relationship with Shawmut Bank and his history of publishing, Knowles was asked to write the history of Shawmut Bank for its 150th anniversary. The book, Shawmut, 150 Years of Banking 1836-1986, was published in 1986 by Houghton Mifflin. Knowles died at the age of 81 in 1990.
In 1836 the Warren Bank opened its office on State Street in Boston. It was founded by a group of directors from the Warren Insurance Company, the Fishing Insurance Company, and a number of other insurance firms. The bank was organized to provide more investment opportunities for the growing mercantile community of Boston. A year later, in 1837, the bank changed its name to Shawmut Bank. The word "shawmut" is a Native American term for the Boston area, which means "living fountain." The bank was federally chartered as the Shawmut National Bank in 1865. By 1898 nine Boston banks had merged with Shawmut to comprise the National Shawmut Bank. Shawmut acquired eleven more banks over the next 50 years. In 1975 the bank changed its name to the Shawmut Bank of Boston, National Association (N.A.).
The Shawmut Association, an investment trust, was created in 1928 to establish stock holdings in other banks. The Association reorganized itself in 1965 as the Shawmut Association, Inc. and obtained the assets of the National Shawmut Bank and other banks in which it held stock. This change transformed Shawmut Association, Inc. into a bank holding company. The Association changed its name to the Shawmut Corporation in 1975.
In 1919 the Shawmut Corporation of Boston was formed to extend the bank's interest into international banking endeavors. This entity of Shawmut was liquidated into the United Assets Corporation in 1944. |
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| Chronology |
| 1836 | Warren Bank established. |
| 1837 | Warren Bank renamed Shawmut Bank. |
| 1865 | Shawmut Bank renamed Shawmut National Bank. |
| 1898 | Shawmut National Bank renamed National Shawmut Bank. |
| 1919 | Shawmut Corporation of Boston, which extended the Shawmut's interests into international banking, created. |
| 1927 | Shawmut Bank Investment Trust established a an investment trust for the bank. |
| 1928 | Shawmut Association (S.A.), an investment trust for acquiring stock in other banks is established. |
| 1944 | Shawmut Corporation of Boston is liquidated into the United Assets Corporation. |
| 1961 | Warren Charitable Trust established to assist the bank in making charitable contributions. |
| 1965 | Shawmut Association renamed Shawmut Association, Inc. (S.A.) (referred to as "the Corporation" by Knowles). It is reorganized to control all of S.A.'s banks and the National Shawmut Bank. |
| 1966 | Shawmut International Corporation is established for international investments. |
| 1975 | National Shawmut Bank renamed Shawmut Bank of Boston, N.A. Shawmut Association, Inc. renamed Shawmut Corporation. |
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| Bibliography |
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Biographical Information, 1948-75. [M20 Box 1, Folder 13]
Knowles, Asa S. "Shawmut, 150 Years of Banking, 1836-1986." Boston: Houghton Mifflin Company, 1986. [NU Snell Library HG 2613.B74S415] |
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