The age-herald., 1901-03-03
WILL OPEN BRANCH
 IN NEW YORK CITY
Steiner Bros, to Seek Larger
 Field for Operation
LOCAL FIELD IS LIMITED
Both Members of Firm Will Remove Their Residences, But Local Bank VIII Be Continued as Here
 tofore-TheIr Plans.

The banking house of Steiner Brothers. familiar by name to all Alabamians, will soon become a familiar institution in New York. For some. time past the Steiners have contemplated opening a New York office and making it their headquarters and now their plans in that direction are about to be consummated They are ne gotiating for suitable quarters on Ex- change Place, and as soon as these are secured Sigfried Steiner will remove with his family to New York. to be followed a little later by B. Steiner with his fam fly.
 The Steiner bank here will be continued. It will be conducted on the same broad and liberal lines as heretofore and in connection with the New York house will be in a position to vastly increase It's business. Leo K. Steiner will be left in charge and will add to the banking fea- ture a general real estate business.
 If the Steiners, who are recognized not simply as money lenders and bank CTS in the local sense. but as large finan- ciers and public spirited citizens. were pulling up stakes and cutting loose from Birmingham, there would be sincere re- gret on the part of the people of this town at such loss. But after removing their residence to New York B. and s. Steiner will spend a considerable portion of their time here and will be in as close and sympathetic touch with Birming- hams business interests as they have been in the past. Indeed they are just spreading out, which seems most natur- al for men of their pluck, genius and capital; and as by this new move they will be in a position to do more for the Birmingham district in the way of head ing capital this way than ever before, the loss to the community of two such citizens will be made up in measure al least by the wider and more far-reaching material gain that will result from their expansion.
 That the Steiner Brothers will get a solid footing In the money center of the United States and keep to the front there, is not to be doubted for monment. They would make success in any world center in Berlin, Paris or London just as easi- ly as in New York or Birmingham. The Steiners came to this city nearly fourteen years ago. They brought capital with them and they have greatly increased 1t. Few men have played so important part in the history of this city in these four teen years. They have handled the mu- nicipal finances and have backed the city government In times of stress when no one else could or would have done so.
 Sig Steiner, in talking to an Age-Herald reporter yesterday, said: "Yes, l will shortly remove to New York and open an office there in connection with our busi-. ness here l will be joined later by B. Steiner and the Birmingham house will continue practically without change, eX- cept that Leo K Steiner will have the more active control of 1t.
 "We will be able to do more for Birm- ingham after We are permanently located in the great money center. We will then handle large propositions and will have business submitted to us from this sec ton, as well as from other section Of the country We will simply be expanding In a practically unlimited field We will cer- tainly be in a position to induce capital 10 invest iltlc. iiCi NSCACAN
 worked at no little disadvantage in con- ducting big negotiations. These negotia- lions had to be carried on by correspond- ence or by frequent and hurried visits to the east Moreover our firm has more capital than it can conveniently use Tn this comparatively limited field.
 ."rhe Birmingham house will branch ont into the real estate business; that is in the matter of buying and selling We will push things in that line
 "In New York we may associate others with us. Birmingham people will always receive A cordial welcome from us al our New York office, which will probably be on Exchange Place, and will nave the op- tion of presenting propositions or man cial nature either there or in Birmingham and such negotiations will always receive our prompt attention
 "A large bulk of our capital will con t,n,1e to be invested in Birmingham, ana as I have already intimated, with the exception of prospective expansion, prac- tically no change In the business will take place. I will divide my time between Birmingham and New York, just about as have been doing all along
 MT Steiner laid particular emphasis on Birminghams mistake in not extending inc city's limits when the Greater Blr- minsham measure was proposed two years ago. The fact that the census pop ulation of Birmingham Is so much at variance with the figures that had gone abroad has hurt the city no little, MT. Steiner said. If the suburban towns had been annexed as he and others urged thew should be, Brmingham's population would have shown nearly double In the census. There certainly would have been a difference in Birmingham's favor of 9, GOO or 30,000.
 .It is a great pity that this question of population expansion was not appre- ciated by this community said MT Steiner. Propositions from Birmingham which could have been handled from this point, had we got credit for the popula- tion to which we were entitled. cannot be successfully negotiated now, because of the disappointment over the official figures given out by the government This is really very serious matter. And to tell you the truth it forced us to strike out for a larger field. I am free to say that if the greater Birmingham measure, so earnestly advocated by our firm, had been carried out, wiuld have kept my residence here"
 NOTICE!
 The Rirn1inpham T,Oan (!0