SAVINGS BANK OPENS
On July 3, 1819: The first savings bank in New York City opened its doors. The idea of a savings bank had been borrowed from Europe in hopes that the lower classes would learn how to save rather than spend their money. NYC could have probably chosen a better time to establish a savings bank considering its establishment came at the same time as the Panic of 1819, the first major financial crisis in the peacetime United States.
WONDERFUL TOWN CLOSES
On July 3, 1954: Wonderful Town closed on Broadway after 559 performance. With lyrics by Betty Comden and Adolph Green and music by Leonard Bernstein, the musical chronicled the lives of new-in-town sisters trying make lives for themselves while dealing with the eccentricities of their neighbors on Christopher Street. Wonderful Town won five Tony awards, including Best Musical, and inspired a 2003 Broadway revival.