Vault holds its first meeting.

Officially the Boston Coordinating Committee, the group of business leaders is called The Vault because it holds its meetings next to the vault of the Boston Safe Deposit and Trust Company at 100 Franklin Street. Formed at the urging of Lloyd Brace, president of the First National Bank of Boston, the group includes other Boston bank presidents and representatives from the Greater Boston Chamber of Commerce, Boston Real Estate Board, Boston Retail Trade Board, Boston Municipal Research Bureau, and Boston law firms. Mayor John Collins attends the biweekly meetings to discuss city finances and urban renewal, but maintains “I set the agenda.” The organization is dissolved in 1997, as more Boston companies become controlled by out-of-town corporations. A new group of Boston business leaders is formed in 2009.*