[sheetjs]

Similar story behind JPMorgan Chase: https://www.jpmorganchase.com/corporate/About-JPMC/document/...

    The Bank of The Manhattan Co. had an
    unusual beginning. Burr led a group of
    New Yorkers, including Hamilton, in
    obtaining a state charter for a company
    to supply fresh water to the residents
    of Lower Manhattan. At Burr’s initiative,
    the charter included a provision
    allowing the company to employ its
    excess capital in any activity “not
    inconsistent with the Constitution and
    laws of the United States.” Burr then
    used that provision to start a bank.

[simonh]

That seems like a deliberate end-run round the company registration system from the get-go, rather than an existing operating company using it's capital to diversify.