Evening star., 1897-06-01
THE BANK TRANSFERRED
Mr.. E. Southland Parker Elected President of
the Metropolitan.
New Owners Take Charge Today
Board of Directors and Of
nccrs Elected.

The formal transfer of the control of the
Metropolitan National Bank took place to-
day in the directors room of that institu-
ton. Mr.. S. w. Woodw ard and Mr.. f.
Southard Parker, who, as has been stated
in The Star some weeks ago purchased a
controlling interest in the bank met the
board of directors today shortly after II
O'Clock. A cash payment of one hundred
Thousand dollars had been made when the
controlling interest in the bank was Sc
cured, and today a check for the balance
OF the money, which amounted to s4eOVp0
and signed by Messrs. Woodward and Par
ker, was given to complete the transaction
The money was already deposited in the
metropolitan Bank, and the check was
drawn on that bank. The total payments
made by Messrs. Woodward and Parker
as above stated made them owners of
l,SO6 shares of the bank hich is 3O5 shares
more than is necess airy TO give a majority
control
The shares of the bank are 5000. at a
par value of 500 each. AS soon as the
transfer had been completed Messrs. John
- Larner. j. b. Winner and II. K. Willard
who were waiting outside were summoned
ana an election of directors was held,
Hhlch resulted in the choice of the follow
ing: E. Southard Parker, s. w. Wood
ward, }. b. Winner. John T. Armes John
Il. Larner, HI. K. Willard. w B. Gurley.
G. H. b. White. There is one vacancy on
the board. which will be filled at some later
GATE, making the membership of the boarl
nine. When the election of the new board
was announced the members of the Old
board left the room with the exception of
on the new board, viz, w. b. Gurlay ard
q. H. b. White The retiring members
were J. w. Thompson, Nathaniel Wilson,
Henry A. Willard, James f. Fitch, J. o.
l,an
mann.
The new board organized by the election
OF Mr. +. Southard Parker as president and
). W. Woodward as vice president. the
present cashier. Mr.. George H. B. White.
continuing as cashier.
In the negotiations which led up TO the
purchase of the controlling interest in the
bank Mr.. John B. Larner appeared as the
attorney. 1t was stated today on behalf Of
Messrs. Woodward and Parker that the
statement made by them to the effect that
in this transaction they represented no
syndicate, and no one but themselves must
be accepted the only explanation which
could he given of the transaction. This
was said when attention was called tc the
rumors which have been circulating In re-
gard to this matter.
Mr.. Parker's Statement.
Mr.. Parker said to a Star reporter this
afternoon that the Metropolitan Bank. as
we'll as the Bank of the Republic had been
purchased by Mr.. Woodward and himself
as an Investment and that there was no
syndicate or anything of the sort behind
the transaction. Both of these banks he
added, occupy independent fields and have
been established as the result of years of
careful management, and it was the inten-
ton to continue in both instances the busi-
ness thus established. There was no
thought OF consolidation.
AS to the Columbia Bank of which he
Is president Mr.. Parker, when asked
whether he would continue at the head Of
that institution, said that he had not re-
signed, and that there was no legal reason
at least. why he could not be at the head
CT two national banks