New-York tribune., 1899-12-19
WON'T CLEAR FOR TT ANY LONGER.
SEVENTH NATIONAL BANK SERVES NOTICE
on THE INTERNATIONAL BANKING
AND TRUST COMPANY.

Tho se,nn,b National Bank yesterday informed
the Clearing House Association that after TO-DAY
n would no longer clear for the lhterhaooha
Ranking and Trust Company T. II. Froehlich
secretary OF the trust company. was seen oy
Tribune reportcr yesterday. Just after he had had
n prolonged conference with some OF the directors
OF tho institution. Mr.. Froehlich said "A number
OF false reports were circulated this forenoon ABOUT
this Institution. Several directors OF the bank
hurried down and asked me what II all meant
had the cashier and bookkeepers get out n state
ment It showed that We had $4,000 over and
aboye all our liabilities and that are. mat
ter OF fact I'm as good shape 10 weather siege as
any bank in town.
1--WE have cash in banks now To the amount OF
81 10000: New-York City bonds. $4,000; demand
collateral loans 10000 time loans, 10000; bills
purchased $500 900 and cash on hand. 1900. MAX
ing total assets OF more than $4,000. our only
llbnItes are our deposits. $4,000. II is imma-
ter,al TO liz whether not the Seventh National
Bank clears for us. We have about completed ar
rangements 10 effect our clearances through a
much larger bank. The clearing is only matter
OF convenience. I'm any case. as evidenced by tho
fact that the Central Trust Company. the United
States Trust Company the Union Trust Company
the Guaranty Trust Company. the United States
Mortgage and Trust Company and several other
companies have no Clearing House agents, al
though most OF them issue checks TO their depos-
itors"
The following formal statement was Issued yes
tcrday
The Produce Exchange Trust Company holds no
stock Of the international Banking and Trust COM
pauy nor has the International Banking ana trust
COMPANY any money due II or on deposit with the
Produce Exchange Trust Company except SOVp
I'm the ordinary course Of business II Is only nee
essary to look the list Of directors OF the Inter
national Banking and Trust Company TO see how
uncalled for such rumor was The examination
to-day revealed that the Produce EXCHANGE trust
COMPANY had scattered through It's loans less thar
ono thousand shares of International Banking and
Trust company stock. which appears in small lots
nected with the International Banking and Trust
COMPANY IN the ordinary course OF business.
Hero is n list OF the officers and directors OF the
Internati tional Banking and Trust Company;
Pre.ldent-sTEwART BROWNE.
Vice presidents-JosErH T. low ana w. fr CTfESE
BROUGH
sccretarIes-JoHN II DUER and r. n. FROEHLlCH
Assistant secretary-M +. WALSH
Directors GEORGE CRoCKER. ROBERT A. CHEESE
BROUGH w. HoI.LINS. CHARLES II. FLINT
STEWART BROWNE. EDWARD E. MCAII. FRANK
ROCKEFELLER A. s. HETDELBACH T. F. {
YOUNG JOSEPH r. LOW. FREDERIC r. CoUDERT
BENJAMIN r TRACY JOHN X cowEN. J. g
JENKINS SYDNEY r TYLER. c. u. DAWSON, JOHN
n WING TURNER A. BEAI.Is THEODORE II. PRICE
OAKI.EIGH THORNE, ALFRED NJ. HOHT, PERClNAl
kNAUTH, EDWARD W. SCOTT. MAXW Eli, WOOD
HILL JOHN MANERNEY. ANDREW HAMILTON
r. LANCASTER WILLIAMS r. |. EDWARDS, r n
CoUDERT Jr.. W. HOWARD GLIDER. J. W. hidden
DoRF. JOHN HONE. p c. POTTER. ERNST THAI,
MANN. A. r. PICK. WILLIAM H. CHESEBRouGH
MARSHALL. .. briggs. GEORGE w. EIKINs. E. A.
pE LIMA W. II. LLEwEII.YN. BERNARD BARUCIi
ana LEONARD IEwIsoHN.