The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-04-23
Company's Directors Plan to Make
Stock Two Millions, With
Surplus of Three Millions.
TO HANDLE GROWING BUSINESS
New Shares Will BE Taken by
Stakeholder at S300-Twenty-
Five Shares Sold at $40
President Madill Talks.

Al 4 meeting of the Board Of Directors or
the Union Trust Company of st. Louis
to be held Tuesday afternoon definite ar
| arrangements will be made for the increase
of the capital stock of the company from
SO 600 to 81. 100000. with a provision of a
surplus of s.. ,OON. making a total working
capital of 5000 oo.
The additional stock will be absorbed by
the present stockholders. who will under
write the entire increase. 1t has been ar
ranged TO deliver this stock to the share
holders at 500 per share. About twenty
five shares of Union Trust Company stock
were sold privately on the street Monday
for $50 per share. In the open market
there was a demand for the stock at 1851
per share. with none offered.
George A. Madill, president Of the Union
Trust Company. said:
ut has been decided to increase the cap
ital Of the company in order to enable t
to handle the rapidly increasing business,
and to that end Il majority OF the stock
holders have agreed on a $2,000.0VO capital,
with Il S.VV,0 900 surplus, making an asgre-
gate capital Of $5,up,0D with which to con-
duct business. Our Board Of Directors will
meet Tuesday afternoon and arrange for
the increase. The stockholders will meet
sixty days later, when the action Of the
UOdlQ Will Uo lOILudllS dL4leO
"A majority of the stockholders have al
ready agreed to underwrite all stock not
taken by the stockholders of the company.
This means that each stakeholder will be
given an opportunity TO take of the new
stock the same number Of shares which he
holds in the old stock, paying therefor $3VO
per share. and that he will also be given an
opportunity to take. with all other stock
holders willing TO join him, his pro rata of
the new stock NOT taken ny tho old Stnrk-
holders and an opportunity will be given
him TO indicate his purpose in this regard.
The belief is that all of the present
stockholders will be glad to take all of the
stock to which they are entitled. 1t is ex-
pected that the stockholders meeting will
be held in time to make a delivery Of the
ton of the dividends is a part of the plan
for the increase of the capital stock.
The officers Of the Union Trust Company
OF st. Louis are as follows: George A. Ma
dill, president: William Taussig, first vice
president; Robert 8. Bookings. second vice
president; b. u. Graham. third vice presi-
dent G,I \: A: Mcmillan; treasurer George 4.
ant treasurer; Adolph H. Stille, assistant
secretary.
The directors are: W. II. Lee. president
+. Hughes. president of the Continental
Land and Cattle Company: L. w. Morton.
Hardware Company; Hugh A.
SC 9mnsm 2 president 8 Of the Sligo Furnace
SAa vi lAC
Hydraulic Press Erick Company; Edward
MaliineArodt. president of the MallincS-
rodt Chemical Works; John Scullin, presi-
dent of the Virgins Ferry Company; NJ. c..
Wetmore. capitalist; NJ. NJ. Buck, capital
ist; G. A. Ffnkelnburg, attorney: Thomas
II. Mckittrick. president of the Hargadine-
MGkittrick Dry Goods Company: Howard
Elliott, general manager of the Burlington
Route; Irwin z. Smith. Junior Realty Com
pany and John F. Sheply.
The Union Trust Company of st. Louis
was organized in 1890 and George W. Parker
was its first president. Its first office was
on the second floor of the Laclede building,
at Fourth and Olive streets. 1t then re.
moved to the southwest corner of Ninth
and Olive streets. where it remained until
May. 1894. Then it removed to its present
quarters in the Union Trust building, at
Seventh and Olive streets. and Colonel will
: liam Hughes succeeded Mr.. Parker as pres
, ident. Colonel Hughes was succeeded by
Judge George A. Madill January /, 1885
Cornelius c.. Tompkins was the first treas
urer and remained in that position until the
spring Of 1897. when he resigned to go abroad
for a long period, and n. A. Mcmillan was
! elected his successor.