New-York tribune., 1901-07-25
TO ABSDRR RANK OF PEpURJJC
FIRST NATIONAL OFFERS TO BUY THE
STOCK OF ITS NEIGHBOR.

The stockholders of the National Bank of the
Republic yesterday received official information
that the bank is to be absorbed by the First Ma
tional Bank, its neghbor in the building at No.
Wall-st AS already told in the columns of The
Tribune. the two banks own the building Jointly
and the First National Bank, which recently in
creased its capital from s5000oo 100000, has
secured controlling interest in the Bank Of the
Republic. The stockholders OF the Bank of the
Republic who have yet parted with their shares
of the stock yesterday received a circular stating
that proposition had been made 70 the directors
OF the Bank of the Republic by George F. Baker
the president of the First National Bank to pur-
chase the stock of the Bank of the Republic pro-
Vided shareholders owning not less than two-thrds
OF the stock accept and deposit the same with the
bank on or before August l. The proposition is 10
give s275 in cash for each share of the stock or
one share of the First National Banks stock for
two. shares of the stock of the Bank of the Re
public. Then the circular says:
As members of the board of directors and as in
dlVidual shareholders we have assented pending
your acceptance in order that all shareholders NAV
have the privilege of participating on equal terms
ana we recommend the acceptance of the PROPOSE
ton as advantageous.
The circular is signed by George B. Carhart
Sumner R. Stone. Charles r. Flint William Bar
bour James A Blair. Charles Parsons Anson R
Flower, George H. Macy and Charles H Stout
directors
Inc capital stock Of the Bank of the Republic is
AoVOoo consisting of 5000 shares of the par value
of 800 each. At the estimate placed on the shares
by the First National the 600 shares are worth
a,1S.0o0 Nine shares the stock sold in the omen
market yesterday at 500 share, but it was said
later tha the reason for that large price was that
the purchaser thought the shares could be ex-
changed for an equal number of the new First Ma
uonal shares At the previous sales of the Rank
of the Republic stock the shares brought $40 TO
500 share. On the basis of two shares of the
Bank of the Republic stock being worth the same
as one share of the First National stock the
enlarged capital stock of the First National Bank
would be worth SO 100000
OfnGlais OF the First National Bank said yester-
day that they did not doubt that the offer to buy
up the shares of the Bank of the Republic would be
accepted and that most of the stockholders of the
panK would accept First National shares at the
terms offered When the First National Bank has
ABSORBED the Bank of the Republic and has he
come the sole owner of the building at No Wall
ST II is expected that the entire first floor of the
oulding and part Of the basement will be used for
oank purposes The increased business of the First
National Bank will enable IL TO take into lis emnIov
most Of the employees OF the Bank of the Republic
Vice-President Stout and W. b. T Keyser who
nave been running the Bank of the Republic will
have places in the First National Bank officials
say IL VIII take several weeks. perhaps months
70 wind up the affairs of the Bank of the Republic
Bank '' ->h'ioi'a