The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-17
MERGER NEGOTIATIONS
NEARLY PERFECTED.
Consolidation of Title Trust and
Missouri Trust Companies
Seems Assured.

Negotiations for the merging Of the Title
Trust Guaranty Company and the Missouri
Trust Company are so far advanced that
knowing ones say the deal has been
practically perfected. The consolidation Is
the result OF two weeks OF hard work on
the part OF committees of each company.
and out OF II Will grow a concern which
Will have a monopoly of the title examining
and abstracting business of St. Louis. There
are several smaller concerns in the busi-
ness. but their business is not enough to
give the two big concerns any worry, the
latter's officers say.
Tne merger, as planned, has a special in
terest for realty men. because It Was at
their instance that the Missouri Company
undertook to add a title plant to it, busi-
ness. Last year. when the Title Trust abb
sorbed the leading title firms. headed by the
G~ehner-Niemann plant. the realty agents
or the city cast about for a way to pre-
vent this important business from being
monopollzed. AT a meeting on the Real
Estate Exchange several projects were dis
eussed as u remedy. and the Missouri Com.
pany offered to increase its stock and add
a title plant provided the agents subscribed
to a portion Of the new issue.
Manager h; NJ. Knox OF the title depart
ment spent three months in devising a way
to organize a modern plant, and soon had
forty copyists and examiners at work in
the Recorder or Deeds office TO make a set
of records. Starting with the Spanish and
French grants. these men worked their way
through dusty cid volumes. and in the Last
few weeks over 100 clerks have been en-
gagged in this work. Owing to the inability
to work q larger force heretofore, the COM
rany has been hampered, as the facilities at
the City Hall did not admit of increasing
the force. The company gave it out that
$4,000 would be expended in perfecung the
plant.
When the rumor Of a prospective CONSOLE
cation of the Title Trust and the Missouri
companies first reached the street, Title
Trust officials were positive in the.r denials
that such a thing was contemplated. Tley
pointed out that 1t was unnecessary, be-
cause the Title Trust would have no use
for the Missouris title plant and none for
its trust businessmen especially as officers
of the four leading trust omp MES are OH
the board of the Title Trust. Nevertheless,
committees on each side were working gu.
a plan Of consolidation or merger on a cash
basis. That the brokers were posted was
evident from the fact that yesterday after
noon on the st. Louis Stock Exchange
blocks Of Title stock were sold at an sd
vance of three and four points. After the
close Missouri was also bid LIS.
The Missouri company was originally a
Sedalia concern. John w. Harrison has
ruary, he succeeding Edward S. Orr. On
the Board OF Directors were Morton Jour
dan. R. NJ. scruggs. Murray Carleton. Doc
Howard Gambrill. j. l. LaPreIle. j. ).
Goldman. H; NJ Meier. George Hoblitzelle,
James P. Dawson. John c. Wilkinson, E. A.
Faulhaber and John E. Franklin of Fred
ericktown. Mo. The capital was 81, 900, 900
and the surplus 81, 10000.
The capital of the Title Trust Company
is sL.5OO.0o0. and the surplus S750.0OD. The d.
rectors are August Gehner. Eben Richards,
J. c. Van Blarcom. Thomas H. West, A.
A. B. Woerheide. Andrew Sproule. H. c.
Pierce, L. d. Dozier. Thomas J.. McKittrick.
Festus J. Wade. S. N. Dodd. James w. b II,
Z. S. mmo Corwin H. Spencer, Breck-
enridge Jones. Gustave w. Niemann, Wal
ter ]. Holbrook and Murray Carleton.
The Missouri Trust Company has much
capital invested in Oklahoma as well as
Mi souri, enterp ises. it is said, and the
profits will be found to be verv LARGE IN
time. Some of its officers have interests in
other financial institutions here. and this
argument won over some of them who were
inclined TO oppose a merger with another
trust company. When the proposition came
from Interested parties In the Title Trust
the stockholders evinced a willingness to
sell, and. 1t is said. that the only obstacle
is to fix 4 cash price for the transfer of the
stock.
Last night President Harrison referred in
ouirers to Broker W. c. Little. first saying
that the deal had not yet been closed. Mr..
Little said some details remained to Re
closed and that it could not be positively
stated that the deal had been made. Coun-
sci Eben Richards of the Title Trust mercy
said there was nothing TO be made public.