New-York tribune., 1902-03-09

tional, which is controlled by this company. and
tioDaI banL lIe second National and German Ma
creased e. e the capital stock OF the company from
plus The increase in stock has been placed at s5o1
snare with the Equitable Life Assurance Com
city. The company is now making broad plans for
h ths estaonsnnent OF chain of trust companies
The general industrial situation could hardly be
will furnish room for the offices OF Companies which
Many of our manufaCturers are riJ1g = mn ms ,bi-
w-1ork offices. and will transact their business
Newark has always been sadly deficient in hotels.
ing which viii ' 6 SIoIy on modern hotel build
S waS ever on more solid and satisfactory basis.
man thoSe winch the most conservative of peo-
Charles G. lockwood president of the National
t SeMd,S banking company. has been banker
Bank Orange, y J. His success was SO marksd
ShaI peter openings presented themselves first in
STANFORD Conn. then in MauCh Chunk. Penn and
had been cashier of the Newark Banking Com ON
Pany nearly thirty years, when he became its
PPGeSldent P IN 1SS. This institution is the oldest
having been given in 1Sc4 II has occupied the
ness. The first building was torn down in fSSs
n Wntn Ihe business of the b2Ek could longer be
PRESIDENT lockwood completed his forty-fourfh
year as an officer Of the bank and it is largely due
CC ms eHortS that a combination with the Newark
City E N22tlonai Bank has been effected.
centre" said the aged banker to a Tribune re-
Well 1 have seen the deveIopme5S3 S aSU fSor
Newark Newark was satisfied with being simply a busy
prosperity and great increase in wealth are un-
Of things made here is almost beyond comprebe1
fbings any @ PI them are little things. but the little
The development of Newark has been steady and
in the same way Take this hang fo nave t{I s9o%n
I ~ nys oSen estanllshed on this very corner for
has 1t skipped single dividend. For many years
sodate with the Newark Cv NadionsI spoIf 5 70 con con
started about fifty years ago. The name OF the
Newark City Bank Will enter our service The
and have no doubt that Newark will contin1e r.
increase in wealth and population OF late capital
property purchases in the business district have
tinue and Newark become an even greater civ SI
In the centre OF the financial district of Newark
| is the Prudential Life Insurance Building which
b lust being completed lat al cost Of nearly S
| years ago: and its remarkable growth has been a
to the United States Senate by the NevsTesssS,
prominent in Newark banking and Industrial com
| panies
The growth of Newark in the last ten years has
been s1rR[I$e, even 70 those who live here and
ment, said Forrest +. Dryden who IS secretary OF
| ber of projects which have been suceessfIITv
financed in Newark in the last few years. In this
country town in its of dealing with things into
dignihed. almost metropolitan. centre OF finance
i neighbOr. New-YOrk. is constantly adOvVing
/ US There was a time when Newark was consd-
| cred as nothing but factory town. Our own
| keep up offices in New-Yorz and do their business
| from that centre, Now a return tendency is being
! Newark is becoming their actual headquarters.
Of New"York. which has always been Somewhat Of
| a drawback. into positive advantage- Newark's
| charms as residence city have never been appre-
ciated 70 any large degree. and the percentage OF
81 an % NJ iIrs S S +[ a.
i fba 6S fDra riUh
| about great change The suburbs Will be built
is in oree for it means @ that one 6R 5RG so 5S frn
| Newark 10 the city in fifteen or twenty minutes
4 This prospective increase in population means
/ something more for this city-nothing less than a
| the limits will extended even far from the
| present boundaries as to include Elizabeth and
field and all the Oranges on the west. and Bellevils
| duced and passed at the present session OF the
! legislature annexing Clinton Township and Bloom
held. This belief is not founded on exaggeTatef
based the past and present history of the city.
Ths men who have made NsyaTlz the 4qancis 7aEt a.
| worked out their lives in Newark The keen bus-
| ness judgment for which they known
shown long before they began 70 deal with big
projects. They have developed with the city which
| they developed. and can look with pardonaole
| There is John F. Dryden. who recently succeed
| ei the late General SeweU one of New-Jersey's
upon SLooo as fortune. Today he is rated amons
| luck or speculation. but by extraordinary energy.
| persistence and hard work While studying law
| at Yale University his health broke down. and
he forced 10 leave college without graduating
After few years he abandoned his law studies for
| the insurance business He tried TO form indus
Il suade capital to enter into the scheme little
i over quarter OF century ago he came 10 Newark
| and founded the Prudential Insurance Company.
\ The business began in y basement with Office
l force Of three and oUtnt worth than
| 500 Ten years ago the company moved into its
/ own 100000 building, and to accommodate in
| creasing business has Just completed another
| structure equally large. The development Of this
| great business has been due TO his genius energy
| and hard work
| Mr. Dryden was one Of the founders OF the Fidel-
ity Trust Company He is largely interested in the
| of the three owners of the Newark and South Or
ange Line. a subsidiary company OF the North Ter
/ system He has variety OF other financial in
\ terestS. but. OF course, nothing which begins
/ compare in Importance with the Prudential He
is now in his siXty-third year, tall thin and Wry
He is still hard worker. and though never strong
| physically, carries his years we'll
! Franklin Murphy, Governor OF New-JerSey, Is a
| native JerSeyman who has lived in Newark since
/ he years old When he returned from the
\ Civil War he went into business for himself
! tablishing the Murphy Narnish Company. OF which
his way up like many another American boy and
/ his business he has built up until il Is known at
home and abroad The business has made a larger
| and abler of him. Oy compelling him 10
/ with growth and strengthen with its strength
Some ago he began 20 take active interest
interests. He is interested in several OF Newark's