New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-17
DOUBLE SAFETY FOR Sd VINGS.
TO SECURE BONDS AND DEPOSITS IN BANKS
PLAN OF THE AMERICAN BANK AND INSURANCE
GUARANTEE COMPANY OF NEWARK.


business which IT is believed Will in the course
Of time reach large proportions and become Of great
importance is that of guaranteeing bonds Of railroads
and other corporations. The assertion that company
known as the Universal Association Eank and Trust
company, which. il is said 10 begin operations In
TINS city some time this summer. IS the pioneer In
TINS line OF business is hardly in keeping with the
fact that an Institution Of the kind formed in
New-JerScy about wear The object of TINS
corporation in which some Of the wcllticSt and most
influential men of Newark interested j. expressed
by its title. The American Bank and Insurance Com
pany. 1t was chartered under the laws OF the state
Of NewJcrscy, and its tide and plans were copy
rghted at Washington. The headquarters Of the com
pany are in Newark, the place OF its birth but as It's
business will be carried on all over the United
states. branches being organized in all the principal
cities throughout the country one has already been
established in this city
The names of the Board Of Directors Indicate the
strength Of The company and guarantee that
lis business will be carried In u way that Will merit
the confidence Of the business community. Among
the directors who will lay down the policy OF tho
American Bank and Insurance Company are Gouirled
Kruger. the millionaire brewer. who recently sold
an interest I'm his brewery establishment TO syndicate
of English capitalists. Henry J. Yates, man OF
large fortune and an ex Mayor Of Newark; Henry
Lang. who has also been the chief magistrate %
Newark Edward Kauouse president of the Merchants
National Bank Of Newark; Edward Schcklau', pr'sl-
dent Of the state Banking Company Of Newark :. :
sargent. who is at the head Of the sergeant Wan
ufacurng Company. of Newark: Iulu, SiApH'
treasurer Of tho Fidelity Title and D"1oit Company
~ Newark James +. Connolly. Controller q" Inc Guy
Of Newark and Or. Warren \. james and LOUIS hcer'
Of New York city.
Tie title and plans Of tho American Bank ana
(ofurquy ed
rights, issued in 1859. Under thee copyrights inc
company t. permitted 10 make contracts Win lIH
viduals. firms corporations 10 purchase any calm
or claims within a specified period that they may
have for any mentioned against any ln''!f'h1
bank or other financial Institution or Insurance com
paay and to take assignment of such claim or claims
Tho company. however viii exercise the greatest
care and discretion in deciding on what securities n
Will guarantee. II dor, not propose 10 guarantee
rlllroad bonds issued by wild cat7 schcmc~, az
securities Of similar nature. but VIII contne Is
operations to the realm Of legitimate business
The company ha, secured the right 70 guarantee
deposit, IN saving, banks. National bank, and Other
Institutions Of financial character. The advantages
u Ills plan evident To all It makes d"uby
firm tho confidence of the public In banking corpora
lions. q most important de- dcrttum when on" con-
-idrgs tie far reading influence which such lu-.l'u
ton, exercise on the community, both IS regard
individuals. firm, and corporations. The scheme "i
the American Bank ana Insurance Guarantee Company
ldd, another barrier against tho loss 81 money which
persons have deposited IN bank, iu large sums or
small and which they have perhaps been saving iof
many wears.
Tie company va, Incorporated for the purpose
authorized 6y !ts COPYRIGHT or copyrIgh'. under the
laws ~ the STATE Of NcHler.cy. August -. l--".
william scho.lcr Eds ard schc,hau' L. MayiaIm and
G,tifr.d kruc5-r w'te ne n,2rlorator- buy ticr
With opcn arms by tho capitalists OF NeNa'i- 90. il'
i't ef arc Tor, -n3|C NE "irl'9 @ %, o
pi.'td ly ~" adoption If M" t'ie " fAe American
i.uk ana Insurance Gunrautcc Companv.' which ttc
is A / II