New-York tribune., 1902-09-05
AN ALL AMERICAN BANK.
IT'S CAPITAL $1oOo0ooo AND IT'S HEAD.
QUARTERS SEw-YoRK.

Directors ot the Mexican Trust Company Bank
yesterday announced the formation OF inter-
national barking institution, capitalized s1noao
90, and designed especially 10 operate IL Latin
American countries. The scheme involves the
soIidation Of the Mexican Trust Company Bank
and the Corporation Trust Company, both having
Offices at 40. . Broadway. The combination Is
to be known the International Bank and Trust
Company of America
The directors Of both the merging corporations
have signed the consolidation agreement a
jority Of the stockholders of both concerns have
already siguified their approval Of the plan In
formally and a meeting of stockholders to give
formal approval of the merger will be held with
in the next three weeks. II is expected that the
combination will become effective about Octo-
Der !.
Both the Mexican Trust Company Bank and the
Corporation Trust Company already have broad
charters under the laws of Delaware The new
company's charter will embrace the features OF
both of them. Branches of the Mexican Trust
Company Bank are said TO be established IN seven
cities Mexico The new company VIII utilize
the branches already established, and II Is Planned
to establish branches at sixteen more clues IN
Mexico There are to be branches IN havana
Buenos Ayres. Rio Janeiro. Valparaiso and other
South American and Central American cities as
the OPPORTUNITIES develop, il Is asserted
The general clearing house for the various
branches of the corporation Will De III tnis c'SS-
The company will not do local banking business
- a. Ill ~ "a divert to Sew-Yorh the large
amount Of Latin American eSehshse '"a1 "'
goes to London. Berlin and Paris
" H Hunt who was tne organizer alli y Ii7
president Of the Mexican Trust Company Senk'
Will BE- The president Of the new cSfp9raioI-'
Charles Francis Phillips now president Of the
CORPORATION Trust Company. viii b6 nEsI vice
president The board of directors will comprise
substantially the two existing dtrectorates. and
will contain several men in addition There will
be thirty directors including j. Sloat Fassett and
of T-Ir1r9 Y ". j
Chicago: julius C Birge St. Louis; silas b
butcher BROOKLYN: Frank B Robinson, Joseph G.
Deane. Russell whitcomb and John H Maughan.
Na7vYorI<. L, C Mitchell, Minneapolis. MINI
Isaac NJ EGohrnSQn rQ Il ms o EG9 Vfr no D6ver Del
Frank r. Crocker, Charibou. Iowa. and R. NJ
NI+a9'i T69 Mexican Trust Company Bank was inccF
porared last year with a capital or S0Hg." ms
bank opened its principal office in the City OF
Mexico on June IS, 1891. Senior Don fg1aclo de y.
Tore son-in-laW Of President DiaZ, oecanls oii7
OF Tbs fae Gorpora5ion Trust Company. in the fev
panies formed under the laws OF Delaware, Insl
sssgresata capital amounting almost sl5ooooe9A
Il i the agent and representative Of large num-
" H Hunt describing the PURPOSES OF 1ns RsT
banking institution. said last evening
We are thoroughly convinced that New-York IN
to be the future financial centre Of the world y
snces between American countries continue 20 ~
done through the banks Of EuToPe IA9 AneEsn eeris
countries along with this countrys indystrfai sx-
bV which American manufacturers and exporters
NAV sette their balances through banking mouse
pledged TO AGrsap sprescy Of the rnitsd states
with New-York City as its clearing house The IN
crease Of our capital s1o0n0eo will provide am
pie means for the expansion Of our business. We
shall expect to DO not only MY "a aiS m ne sb 0
American countries whose natural resources are
the organized capital necessary for their greatest
development