<P> The Bank of United States, founded by Joseph S. Marcus in 1913 at 77 Delancey Street in New York, was a New York City bank that failed in 1931 . The bank run on its Bronx branch is said to have started the collapse of banking during the Great Depression . </P> <P> The Bank of United States was chartered on June 23, 1913 with a capital of $10 and a surplus of $50,000 . The bank was founded by Joseph S. Marcus, a former president of the Public Bank, also of Delancey Street . Marcus, who was responsible for the building up of Public Bank, started the new bank, with the backing of several well - known financiers, because of a disagreement with other members of the management . Though the directors of Public Bank objected to the choice of name, arguing that "ignorant foreigners would believe that the United States government was interested in this bank and that it was a branch of the United States Treasury in Washington", the name was approved and the bank came into being . The use of such an appellation was outlawed in 1926 but did not apply retroactively . </P>

When did the bank of the united states fail