The age-herald., 1901-11-01
NINTH NATIONAL OWNED BY HANOVER Men Representing Latter AC- quire Controlling Interest DEPOSITS OF S53,729,8OO Hanover National Bank One of the Largest institutions In New
 York-Dlrectors Inter
 ested Here.


 New York. October s1s--(special)-An- nouncement was made late yesterday af- ternoon that control of the Ninth Ma tional Bank had passed to Hanover Ma tional Bank interests, the following state ment regarding the transaction being is- sued by the Hanover Bank interests:
 "A controlling interest in the Ninth Ma tional Bank has been acquired by men who are identified with the Hanover Ma tional Bank and other financial interests. It is not the intention to make many radical changes in the management of the Ninth National, but there will be some gradual changes in the directory. 50 as to make it a strong representative body There are already several men in the board who are we'll known, succesefui tribute as directors, because of their eminent fitness and their long friendship for the institution; and with those who may from time to time be added to the board it will be their effort to conduct the affairs of the Ninth National Bank to position and prestage In its section of the uptown business centre.
 At a meeting of the board of directors held yesterday William H. Halls Jr, one of the vice-presidents of the Hano- yer National Bank, was elected a director and Nelson A. Reynolds. who has been the city manager of the Hanover Nation al Bank, was appointed cashier. In view of the change of ownership of the stock Albion K, Chapman voluntarily tender ed his resignation as cashier, but was immediately appointed assistant cashier"
 Reports of Consolidation.
 For at least three years there have been reports from time to time that the Ninth National was about to be consoli- dated with one or more banks in it's neighborhood The Ninth National is at No. 4O7 Broadway. near Walker street. in the heart of the dry goods district, and, although a comparatively small in stitution. has been regarded as having favorable prospects. It is known that there Is no intention to consolidate it with the Hanover, as the Continental National Bank was recently absorbed; but 1t will be to all intents and purposes an uptown branch of the Hanover, stand ing in the same relation to it as that in which the Astor National Bank stands to the First National and the Second National and Lincoln National stand to the National City Bank. .s..s
 Control of the Ninth National was ac- quired by the Heath interests when they took over the Seventh National Bank control, about two years ago. 1t Is un- derstood that the entire holdings of the Heaths and the interests cooperating with them, representing together the Ninth National control, have been trans- ferred to the Hanover Bank interests, the price paid being around 70.
 Ninth Nationals Capital.
 The Ninth National Bank has a capital of $750000, and net profits of $71, GOO Ac- cording to the last statement of the As- sociated Banks it's loans were $1965, 600, and it's deposits s2.051, 4O0 and it held s249,- 800 specie and $241, 100 in legal tenders. It's president Is Alvah Trowbridge who two or three weeks ago retired from the pres idency of the American Bankers Associa- ton, and its directors, according to a recent list, are MT. Trowbridge, Alexen. der King James B. Dill, Charles T. Root, Warner Van Norden, Samuel Eisemnn, Albert c. Hall, catholina Lambert. Au- gustus F. Libby, Guy G. Major. William w. Peabody Jr., George F. Randolph, Jordan J. Rollins, Carl A. Spilker, and S. W. Vanderhoff.
 The Hanover National Bank is one cf the largest financial institutions ir the city, and is popularly regarded as having rather close relations with the Standard oil Company, one of its directors being William Rockefeller. Its capital was in- creased in the spring of 1900 from S1,- GOO. 900 to $3,000000. capitalization exceed ed by only that of the National City Bank, the First National Bank and the National Bank of Commerce, each of which has $1o,Oo0,ooo.
 Enormous Deposits.
 The latest clearing house weekly state ment gives the Hanover's condition as follows Net profits s, 655. 200; loans, S4s,- 093; deposits $53, ,729. 800; special $s 162. 300; legals, s5,95S, 3OO and circulation S2976, 800. It's president Is James T. Woodward, a member of the clearing house committee, and formerly president of the Clearing House Association.
 Mir Woodward is director of the Bir- mingham Trust and Savings Company and owns large property interests in Bir- mingham and the district, while William H. Halls, Jr.. Is one of the largest own CTS of the Birmingham Realty Company, and the Birmingham Belt Line Railroad. and is otherwise largely interested in Bir- mingham.