Evening star., 1900-11-26
Tendency Toward Consolidation in
New York's Banks.
TIE VANDERBILT-FRENCH WEDDING
Charleston, South Carolina, Wants
the Demolished Dewey Arch.
MOOSE FOR ADIRONDACKS

Special Correspondence OF Inc Evenlng star.
NEW YORK, November 25, 1900.
Probably the most markable movement
that has been going on in financial circles
In New York city during the past two or
three years has been the tendency to con-
solidate the banks Of the city. In a num-
Der of instances this consolidation has been
effected openly; in other cases the stock OF
the smaller banks has been quietly absorbed
by financial stars of the first magnitude. 1t
does not require a trained financier to rec
ognize the economies incident to the man
agement of one large bank instead of
dozen small banks. The significance of the
movement is also apparent to all when 1T is
remembered that the National City Bank,
which has taken the lead in this work of
combination, consolidation and concentra-
ton, is probably the strongest, the wealth.
lest and the most conservative bank in the
country 1t has been enormously styled the
"Standard Oil Bank" AS a matter of fact,
it is not owned and controlled by John u.
Rockefeller the president of the Standard
Oil Company. The president of the Nation
al City Bank is James Stillman, and the
popular designation of this bank as the
STANDARD Oil Bank probably arises from
the fact that the Standard Oil Company
keeps it's deposits there, and also from the
fact that close business and social arrange
ments exist between the Rockefeller and
Stilman families.
A tinancier, who has the entree into the
most exclusive banking circles in this city,
saws that the National City Bank, since the
recent election has decided to branch out
in various lines in way that Is likely to
make that organization the most influential
banking institution in the world with the
possible exception of the Bank of England.
And inasmuch as financiers agree that the
financial center of power is shifting from
London to New York, it is questionable
whether the National City Bank may not
eventually surpass the Bank of England in
the extent of it's operations. 1t is claimed
that the National City Bank officials are
already discussing the opening of branch
banks in the Philippine Islands, in Cuba, in
Porto Rico and in Hawaii. If these banks
prove successes, the National City Bank,
it is said, will then arrange for the estab-
lishment of branch banks in Mexico, Mica
ragua and the South American republics.
Will Help American Trade.
American trade in these foreign countries
has been greatly checked and in some
cases shipments have been stopped because
American business men have been COM
PEELED to deal with local bankers of un-
known financial standing. AS matters now
stand it is almost impossible to guarantee
prompt payment of American soldiers and
officials in the Philippines, Cuba and Porto
Rico. Great risks are often taken by the
government paymasters and other disburs-
ing officers, and if the National City Bank
does eventually decide to branch out in
these new fields it will be a cause of uni
versal rejoicing among all classes of Amer
leans having dealings with the West Indies
and with the islands of the Pacific.
Preparations are going forward rapidly
for the wedding of Alfred Gwynne Wander
bit and Miss Elsie French, which will take
place at Newport on January II. The we'd
ding will be what in social Darlance is
called a quiet affair, not more than $50
will be invited to the reception. wedding
breakfast at the French villa will follow
the ceremony A vault at the Aquidneck
National Bank has been taken by Mrs
French for a depository for the wedding
gifts. Mr.. Vanderbilt and his bride will
spend their honeymoon in Europe, remain
ing there till June, when they will return
to Newport
The final column group of the Dewey arch
has been torn down and the arch now
stands in bold, unbroken outline, and Is to
remain undisturbed until an important de-
cision is reached. James P Keating, COM
missioner of highways, under whose charge
the arch is being removed, has received a
letter from the committee in charge of the
South Carolina interstate and West In
dian exposition" asking permission to re-
move the arch and transfer it to Charles
ton for this exposition. The matter has
been brought to the attention of the mayor
and has met with his approval. 1t now re-
mains for the council to pass on the mo-
ton, which they are to do tomorrow
To Restocl< Adirondacks With Moose.
Within ten days a meeting will be held
in this city Of those interested in the move
ment to restock the Adirondack region with
moose. 1t is proposed to form an organiza-
tion to ask the legislature to make an ap-
preparation that will cover the expenses of
bringing the moose back to the Adiron-
dacks and then pass laws for their protec-
ton. So many prominent men have already
n i,,fn nf
the movement that the projectors of it are
already confident that it will be success.
The organization will be known as the "As-
sociation for Restoring Moose to the Adj
rondacks, and from present indications
will have a membership of fully 200. Only
a nominal fee will be charged to join it,
enough to cover the incidental expenses
connected with the associat ation. The SPORTS
men who are behind the present movement
to restock the region say that the cost
would not be great, as a number of guides
have volunteered to go to Canada and catch
the moose, If their expenses are paid.
Local bankers have been led to believe
that the new British Joan would be in the
form of a regular time bond instead of a
short-term exchequer loan, and in conse-
quence were somewhat surprised at the re-
cent announcement cabled from London in
v1ting tenders for a $15,OOO,OOO five-year
note issue. 1t is at present impossible to
ascertain whether there would be any
American tenders for the loan, either for
the whole or portion Of the issue. The
last exchequer loan, about $50, 100000 of
which was taken here, ran for three years.
and was put out at 9S. The total issue was
for $5O,0OO,OOO, and the Barring Morgan syn
dicate, which handled the American end
was awarded the contract, because it was
deemed advisable by the British chancellor
of the exchequer to replenish England's
gold supply by drawing on resources out
side the kingdom. While the longer dura-
ton of the bond makes the present issue
slightly more attractive than the former
three-year loan, the experiences of the
small subscribers with the former issue are
not such as to make them eager for the
bonds. Local bankers who have partici-
pated IN foreign loans heretofore are un-
willing to say whether they will submit
tenders for the present ISSUE nor will they
make any estimate of the figures at which
the bonds will probably sell. They all ex-
pect that with the termination Of the Boer
war Great Britain will have to resort to |
some funding operation, as the amount of
exchequer notes outstanding and yet to be
issued to meet running expenses will reach
a heavy figure and will call for some unfit
cation at an early date.