New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-21

tn no y,ce.President of the National City Bank
statement Of May a. the depressed condition OF
business generally throughout the country In
duenced the directors and shareholders OF 'f'e
bank TO seek consolidation with another strong
bank The cost of operation under consolida-
ton. 1, was said, would be less. and there were
other ways in which the directors thought con-
solidation would benefit the interests OF the
shareholders and depositors. Meetings OF the
Boards of Directors of both banks were held
Yesterday afternoon, and attorneys for the banks
drew up the articles of agreement TO consol:-
date, which signed. In the evening the
presidents of the two banks made formal state
nents about the consolidation
Mr.. HEPBURN'S STATEMENT.
A. B. Hepburn the former Controller Of the
Currency, who has been long and favoraby
known in banking circles, made the following
statement:
Representatives of the Third National Bank Of
umaied @ % AM asTeemes for the conso;ida ton Of the
business Of the Two banks, the Board or directors Oh
oorsed such action and recommended to the stock
holders the confirmation Of the agreement .
Tne shareholders OF the Third National BANK, by a
more than two-thirds vote. ratified this action and
CO M anS OF he bank n0p 10 fully
.cr Of the business of the Third national the Ma
,ionai City has agreed to pay in full ali depositors
OF the Third National Bank. 10 receive theI ac; ac;
constellation they have here tofore received
The Sationa Ciy Is one OF me oldest and d ssT9ng M
t, a surplus and undivided profits of SO 800 GcO and
Line OF 4Ps @ he br6 @sona nhSP have
for congra;uaton in being placed with such de-
out the country have been much depressed for sew
eral years past People have been compelled TO TO
practice practice ali m av@abe % means Of Terenchmen VIVA!
sd4ee aees 10 10 be Business Of banking and while We have
built up a large and valuable cientaSe and profit
90 to-day' Yet, in view OF the prevalent business
conditions and the sydent mi S Of
are confident that they nave best served the inter
of their customers and all interests by effect
Mr r' chapin. as cashier and l. as president. under
addressed letter 70 each customer Of the bank in
dorsing this consolidation and urging them 10 con-
tional City We feel confident they VIII do this
with practical unanmity. for it IS certainly 20 their
advantage 10 DO So
ANNOUNCEMENT OF Mr.. sTIIIMAN.
President stillman. of the National City Bank,
said:
The gentlemen interested in the Third National
business with that of the National City Bank. The
rrs smonnt Of valuable business which Of course
k always desirable The YGIume OF business @ zone ne
vreaty increased without much addition 10 the labor
,ese % 5s Tbrd National and second that we
might have MI Hepburn associnlcd @ with rs IN ne
aver ne accounts OF the Third National pay their
eacS Of them soliciting the transfer Of the business
We are much ratified at securing the services OF
Aaanai p dieP9sdn PaDd fdrer fore con,roe Of the crrencv
His long banking experience and wclknown hnan,
business o, he most desirable character
We expect to give he former cnstoners rs OF the
have heretofore received from that bank
SUCCESS OF THE PRESIDENT.
Mr. stirman has been president Of the Ma
tional City Bank fer only few years but his
success has made him prominent among the
hank presidents Of the city. His father a
friend Of the late Moses Taylor who did much TO
luild up the business Of the bank and ne had
tten director Of the bank for several years be-
fore he was induced to take the Office Of presi-
don't He is also engaged in the cotton business
a, No 90 William-st The other directors Of
the National City Bank are Samuel Sloan pres-
dent Of the Delaware Lackawanra a and Western
Railroad Company; Lawrence Turnure Of Law
renee Turnure e. Coz No. 30 Wall-st; Roosevelt
6. Rolston, president Of the Farmers Loan and
Trust Company: Cleveland H. Dodge, OF Phelps,
Dodge Co. No. II Cliff-st.; Henry A G. Tay-
lor. No - Wall-st William Rockefeller presi-
dent Of the Standard oil Company; II. Walter
Webb. third vice-president OF the New-York Cen
tal and Hudson River Railroad Company Fran
els NJ. Bacon Of Bacon e. Co, No 92 Franklin
st.; II. Taylor Pyne. No. ~ Wall-st.: William
Douglas Sloane. Of w. & J. Sloane. No SS4
broadway, and Robert Bacon, of j. j.. Morgan
Co. No % Wall-st.
REPORT OF THE NATIONAL CITY BANK.
The official report OF the National City Bank
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