Angry bank depositors gather outside of the Bank o the United States on Delancey Street in the rain, 1930. Image via Wikimedia Commons.
On this day in history, December 11th, 1930, the Bank of the United States failed. At the time, it was the twenty-eighth largest commercial bank in the US but played a major role in the “narrative of the economic downswing of 1929-1933,” according to the Journal of Money, Credit and Banking. Although the bank, located at on 77 Delancey Street, had an official sounding name, the bank held no ties with the US government. Under the assumption that this was a national bank, many immigrants who lived nearby in the Lower East Side deposited their meager earnings in this bank. This bank didn’t have the safest of transactions, and the bankers weren’t very honest.
A rendering of the installed art piece at the abandoned Myrtle Ave subway station. Source:MTA
Closed in 1956, Myrtle Ave subway station used to run on the Brooklyn-Manhattan Transit line between Manhattan Bridge and DeKalb Avenue. The DeKalb Ave section ran into a lot of problems as it was the chokepoint for the entire BMT Broadway subway operation, “with a lot of merges and some routings crossing others at grade in the switches on both sides of the station,” writes Joseph Brennan. The entire area was rebuilt in 1956, and this caused Myrtle Ave to lose its southbound platform. The northbound platform still exists, but has been closed ever since. An artwork called Masstransiscope by Bill Brand is located in the abandoned Myrtle Ave station. Installed in 1980, the piece works like a giant zoetrope.
As our 10,000 Facebook fan mile mark approaches, we’re giving away some pretty cool stuff (enter below). Grand prize is a ticket to our January 22nd Woolworth Building tour (which is sold out). Our illustrators are also offering some of their amazing artwork, like postcards from the Downtown Doodler and a Central Park print by Lynn Lieberman.
We’re pretty upset we missed this amazing coffee shop/motorcycle shop combination in our recent Top 10 Coffee Shops in Brooklyn for Design Buffs roundup. Jane Motorcycles opened up just five weeks ago on Grand Street in Williamsburg. It’s a nice balance of everything you want–coffee shop aesthetic, gallery-like display of motorcycles, gear to go, cool books, men’s grooming products, and chill owners.