New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-08-04
TRUST COMPANY MERGER.
The North american and the Trust
Company Of america.

It is learned from an excellent source that
negotiations are well advanced FOR the merger
Of the North American Trust Company with
the Trust Company OF America. although Of
fetal confirmation OF the statement and no de-
tails OF the transaction could be obtained last
night
AshbeI P Fitch. president OF the Trust Com
pany Of America, is out Of town and Mr. -Leupp.
The vice-Drcsident. said ne had nothing for pub
LEGATION. Oakeigh Thorne, president Of the
North American Trust Company. made = SINH
lar reply when asked about the matter. J. j.
O'OOnohue one Of The trustees Of the North
American Trust Company. when asked at FL
ieron y. J., last night by a Tribune reporter
whether he could confirm the report Of the
merger. answered: I don't know anthing
about l."
The history q the North American Trust
Company has been one of successive enlarge
nlents. The old North American Trust Com
p2ny was formed in 1855. taking over the as
sets OF the Jarvis-Conklin Mortgage Company.
On May 20 1889. a radical change IN its man
a5ement occurred, The late Colonel W. I. Tren-
holm being succeeded as president by Alvah
Trowb-idge, for many years vice-president Of
the National Bank OF North America, and
Samuel II. Jarvis and Roland r. ConkIn retir-
ing vice-Dresidents.
In the summer of 1899 the international Bank
ing and Trust Company was organized. with
capital and surplus Of S1.JO0.O00, its principal
object being stated 10 be the transaction Of the
foreign and domestic business Of life insurance
companies. It's first president Stewart
Browne, who had been connected with the New
York Life Insurance Company. Mr.. Browne
was soon succeeded in Office by Oakleigh Thorne
and on April 3, 1900, the directors Of the Inter
national Banking and Trust Company and
the North American Trust Company voted TO
ne ir1fo
be called the North American Trust Company;
Mr.. Thorne = few months later succeeding Mr.
Trowbridge in the presidency Of the latter insti-
tuition.
TRUST COMPANY CHANGES.
The Trust Company CT New-York. which had
been organized on November %. 1899 with a
capital and surplus Of 81, 100000 each, and Of
which Willis S. Paine president. was
aulaIgamated with the North American Trust
Company in February. 1901; and at about the
same time the latter institution took the
Holland Trust Company and the Century Trust
Company in liquidation
At the close OF the Spanish War the North
American Trust Company had extended its
operations TO Cuba, opening branch offices in
Havana and Santiago, the Havana Office being
the United States depository for Cuba On July
J. 1901, the National Bank of Cuba. organized
q few months previously by interests identified
with the North American Trust Company. took
the banking business Of the trust com
pany in the island Of Cuba. On January 3.
1901. the North American Trust Company Of
New-Jersey was Incorporated by leading inter
ests in the North American Trust Company of
1Iew-York with 100000 capital It has now
s200000 capital and $4,000 surplus and IN
divided profits. Its president is Oakleigh
Thorne who is also president OF the North
American Trust Company Of New York.
DIRECTORS OF THE COMPANY
The other officers Of the latter company are:
Tice-presidents, Heman Dowd, william H.
Chesebrough and G. NJ. wynkoop: secretary, F.
!. Hilton: treasurer s. D Scudder; trust Off
Ger. James r. Burnet Directors-Messrs.
Thorne Dowd and Chesebrough, and H. s.
Black H. B. Hoins. John Hone, James Jour
dan. James s. Kuhn, Charlton T. Lewis, Allan
McCulloh. J. J. ODonohue. jr., E c. Potter,
John J. Riker. II. F. Shoemaker. Edwin Thorne
John c. Tomnson, Warner Van Norden. c. T
Barney, August Belmont, Clement A Grscom
David H. King jr, William Logan. John Mack,
Joy Morton, W. r. Nicholson. William A. Read,
Samuel Thorne, r. B. Van Cortlandt, P A. B.
Widener and Samuel Spencer The company
has a capital stock paid in of 100000 and a
surplus Of 100000. 1t pays : per cent divi-
dends on its stock which is currently quoted at
80 bid. 295 asked
The Trust Company of America was forrna lly
organized in June, 1899. by the election OF the
following officers, who are still in place: Presi-
dent. eX-Controller Ashbel P Fitch: vice-presi-
dents. William H Leupp. William Barbour and
n. :. Manning; secretary, Raymond J. Chatry:
treasurer, Albert L. Banister. Its directors are
besides Messrs. Fitch. Barbour and Manning,
Frank j. Gould Edwin Gould, Myron T Her
rick, Emerson McMillin. James NJ. Donald Sam
uel A Maxwell, William A. Clark, Joel F. Free
man. Arson r. Flower, S. c. T. Dodd, John w
5riggs, George Blumenthal, Philip Lehman,
Henry 5. Redmond, c l. Hudson John r. Hege-
man, George c Boldt George Croker, Edward
c. Shaefer and Jesse Spalding.
The companys capital Is s., 100000 and It has
surplus and undivided profits aggregating So -
10000. Its yearly dividend rate is per cent
and its stock is 260 bid