The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1899-03-21
WIDE IN IT'S SCOPE.
Organization OF tho International Trust
Company.

Mossrs. John j. Srarlo., of Now
York; j. w. Middendorf, of the
banking house Of Minnendorf, Oliver
& Co.; john l.. Williams IL Sons,
bankers. of Richmond; Donglas II.
Gordon and Charles II. Wescott,
Richard II. Edmonds, Angus Came.
ron and others have completed the
preliminary organization of the In,
ternational Trust Co. of Baltimore,
the charter Of which is broad III its
provisions aud peculiarly adapted to
some new lines of business which
this company will control from the
start. Tho international will do a
general trust company business, but
it is understood that it's competition
with similar intitutons will be more
than balanced by the now business
which i. will bring to Baltimore. Mr.
John E. Scarlcs, who will be tho
largest single stockhoidor, is prcsi-
dent Of tho American Cotton Co.,
which is now revolutionizing the bail
ing and handling Of cotton by it's
round-bale system, and his connec-
ton with the international Trust Co.
will bring to it the financial opera
tons connected with his cotton com
pany and the allied interests which
through it are to bo developed
throughout the South
The leading stockholders Of the
American Cotton Co., in addition to
Mr. Searles, are Mr.. Stuyvesant Fish,
president of the Illinois Central
Railroud Co.; e. II. Hartman, Of
New York, a leading director in that
road and in Ii number Of fiuancia.
institutions; Mr.. William c.. Lover
ing, one of the largest cotton mill
owners of New England; ex Secre
tary Of the Interior David r. Fran
cis, Of ST. Louis; ID. G. Ball, former
| ly president of tho ST. Louis Cotton
Exchange, and others This company
is extending its operations to cover
the cotton trade of the whole South,
and through the International Trust
Go. Baltimore will be IN a position
to finance important and profitable
auxiliary undertakings, developing
some entirely new lines of business
now being mapped out. This will
have a very marked effect upon
Baltimore and tho whole South, and
greatly strengthen the prestige Of
this city in the financial, railroad
and trade interest of that section.
In addition to strong Now York and
Southern connections, tho Intvrnu
tional Company will have important
alliances in London, for which
arrangements were II le last sum
NOR by Mr.. B. Howard Haman, Of
Cans IL Hannah, who are the attor-
neys for the company, and also Euro.
pean connections through Mr.
Searlcs, who spent several months
abroad last fall creating valuable al
llanccs in the leading financial cen
ters. 1t is understood that this COM
pany will have peculiarly favorable
opportunities for securing foreign
capital for Southern railroad in
terests, and for developments cal
cul"ted to effect revoutiouizing econ.
omies in some special lines carefully
Investigated by Mr. Searles during
his recent trip South. The growing
importauce Of Baltimore as Il finan
cial center and it's close relation
with the South impressed Mr.
Searles with the advantage of organ
izing snch financial company in
this city.
The officers Of tho international
Trust Co. will be: President, Mr..
Douglas II. Gordon; vico- presidents,
Mr.. Charles II. Westcott, Mr. John
E. Searlcs and Mr.. j. W. Middon-
dorf. Tho stock will be offered for
general subscri ptlon, ullottments be.
! ing reserved for those who will be-
come directly Interested in the man
agement, and among tho number
will be representatives of Baltimores
financial and banking interests and
somo leading southern mon. 1t is
understood that applications for 81,
owe, 900 Of tho stock were received
from New York yesterday.
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