The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1899-03-30
WIDE IN ITS SCOPE.
Organic ton of the international Trust
Company.

Company.
The manufacturers Record Of March
II says:
Messrs. John f. Searles, Of New
York: j. w. Middendorf, of the bank
ing house of Middendorf. Oliver Co.;
John l.. Williams & Sons, bankers, of
Richmond; Douglas H. Gordon and
Charles T. Westcott, Richard h.
Edmonds, Angus Cameron and others
have completed the preliminary or
ganization OF the international Trust
Co. of Baltimore, the charter Of which
is broad in its provisions and pecu-
liarly adapted to some new lines OF
business which this company will
control from the start. The Inter-
national will do great trust-company
business, but it is understood that its
competition with similar institutions
will be more than balanced by the
new business which it will bring to
Baltimore. Mr.. John E. Searles, who
will be the largest single stakeholder,
is president of the American Cotton
Co., which is now revolutionizing the
baling and handling Of cotton by it's
roundbale system, and his connec-
ton with the International Trust Co.
will bring to it the financial opera
tiOns connected with his cotton COM
pany and the allied interests which
through it are to be 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 Rail-
road Co.: f. H. Hartman, of New
York, a leading director in that road
and in a number of financial institu-
tons: Mr.. William G. Lowering, one
of the largest cotton mill owners OF
New England; ex-Secretary of the
Interior David K. Francis, Of st.
Louis; ID. G. Ball, formerly president
of the 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 Co. Baltimore
will be in a position to finance i'm
portant and profitable auxiliary I'M
dertakings, developing some entirely
| new lines Of business now being
mapped out. This will be a very
marked effect upon Baltimore and the
whole South, and greatly strengthen
the prestige of this city in the tinan-
cial, railroad and trade interests of
that section. In addition to strong
| New York and Southern connections,
| the International Company will have
| important alliances in London, for
| which arrangements were made last
summer by Mr.. B. Howard Hannah,
of Cans & Hannah, who are the attor-
neys for the company, and also Euro
pean connections through Mr.. Searles,
who spent several months abroad last
fall creating valuable alliances in the
leading financial centers. 1t is I'M
derstood that this company will have
peculiarly favorable opportunities for
securing foreign capital for Southern
railroad interests, and for develop
ments calculated to effect revolution
izing economies in some special lines
carefully investigated by Mr.. Searles
growing importance of Baltimore as a
financial centre and it's close relation
with the South impressed Mr.. Searles
with the advantage Of organizing
such a financial company in this city.
The officers of the International
Trust Co. will be: President, Mr..
Douglas H. Gordon; vice-presidents,
Mr.. Charles L. Westcott. Mr.. John E.
Searles and Mr.. J. w. Middendorf.
! hn ho ofn 70
eral subscription, allotments being
reserved for those who will become
directly interested in the manage
ment, and among the number will be
representatives of Baltimore's tinan.
cial and banking interests and some
leading Southern men. 1t is under
stood that applications for 81 900, OOC
of the stock were received from New
York yesterday.
| The Manufacturers Record regards
the organization of this company OF
more than usual interest to the South,
as it means the investment of great
deal Of money in the development OF
the resources of this section. Mr..
Searles is one OF the most widely
known and esteemed men in the
financial world Messrs Middendorf
Oliver & Co. and John l.. Williams
Sons are the controlling powers in the
Seaboard Air Line, the Florida Cen.
trail & Peninsular Railroad and the
Georgia & Alabama Railroad and
many other Southern interests. The
combination is very strong one, and
one we'll calculated to materially aiC
in the upbuilding of the South
| Manufacturers PocorI