The sun. [volume] (New York [N.Y.]) 1833-1916, 1901-12-18
MORSE IN Big BANK MERGER.
BANK or NORTH AMERICA TAKES
IN Rank or STATE OF N. Y.

Phenix National May Come h-7s-story
Building TO Go Up on the Absorbed
Banks Corner for the New Institution
Morse In Eleven Other Banks.
Under the hand Of Charles W. Morse
who has acquired a large interest In the
stock OF the National Bank Of North Amer
lea, that bank Is TO absorb the Bank Of the
State Of New York, capital 81 200, 900.
Warner Van Norden. President OF the
Bank Of North America. made this state
ment yesterday:
The Board OF Directors Of the National
is capital and surplus, BY Offering for sub.
scriptlon By. present ~stockholders enough
o ns~ s SssFt sss at surplus aST to % ss.oSc sS oeo oa pr s., .; 1000 .SSo
in ali. as against sa.c5c.oSo az present, the
object being 20 absorb the business Of an.
about by the friend. OF the bank to be llgui.
dated, in connection with Warner Van Nor
den: the President S 2. c shs Brn ny ,S OF SSSrth
For a year past MI. Van Norden has desires
to retire from active banking, and he will
f ~ IA! s psisad % Sf ss q Do SRRS1t oi hts l. sa az So "a:
eonnections. who Wi! be able to add ma;
remain In the board. t%osethe. With william
p +; Ms y. Sss El'hu Root and others OF the
.Undsr Mr.. Van Norden's administration
America has reached the zenith OF its pros
4 4cTissIi, i Us. s Si .se p s9s .u, tRs as asEs 0s sa,
s f5sa ssSnS :syfn sS.as.! i viii A t sPs' Pisss 4, that tss
time Of the annual meeting In January lJan;
h. Henry C,h h PIN II; P PSx sss1isr' will
Mr.. Van Norden said further; Il hAve
sold part Of my controlling interest In the
Bank OF North America to c. W. Morse.
/ retain the rest and am going to stay In
the board"
Mr.. Van Norden said that the intention
IL to make the combined bank one Of the
four or FIVE .big banks In this city, The
deposita Of lbs bank reported last Saturday
was Eli ,S26 800, and the deposits OF the
Bank OF the State Of New York were
A.257.2oo..
National Bank, with deposits OF t4,cOe 900.
may also he included In the combination
Negotiations TO that end have been going
on.
The enlarged Bank Of North America q
TO occupy a new twenty-three,story build
ing TO be erected by the Wall Street Ex-
change Building Association on the present
site Of the Bank Of the State Of New York
at T. Exchange place and William street and
on adjoining property at IS and ~ Exchange
place and Al n ~ wall street altogether
about 80 feet on William street, IFS feet on
Exchange place and u feet on Wal street.
Richard l.. Edwards, President OF the Bank
Of the State Of New York. will be the Presi-
dent Of the combined institution: Charles
W. Morse, who Is vioe-President Of the
Bank Of the State Of New York. will be
First Tce-President, and MIR. Chaplin
second Woe-Pre-ident.. Alfred H. Curtis.
cashier OF the Bank Of the State OF New
York, will % cashier.
II IL understood to Be the intention Of
Mr.. Morse to make the Bank OF North Amer
ioa the central institution Of tho chain OF
local banks in which he Is now interested.
Mr.. MORSE now controls, besides the Bank
Of the State Of New York. the National
Broadway. tho New Amsterdam and the
G~ansevort banks, and he holds blocks of
stock In the City Trust Company OF this
city. the Fifth Avenue Bank, the National
City Bank. the Garfield National Bank.
the Sprague National Bank Of Brooklyn,
the Twelfth Ward Bank. the Nineteenth
Ward Bank and the vaTtck Bank.