New-York tribune., 1907-01-09
HEINZE HASMERCANTILE
GUSTS GOULD INTERESTS.
FesU Changes of Importance IN
Organization of Other Banks.

tional bank elections yesterday was the acqul-
sition OF control Of the Mercantile National
Bank by z. Augustus Heinze, Charles w Morse
and E. r. Thomas. and the entrance of Mr..
Heinze or his representatives into the boards OF
two OF the minor national banks OF this city.
Annual meetings of the stockholders of all ma
tional banks throughout the United States were
held yesterday. and in New York City meetings
Of stockholders of several state banks also took
place. The Heinze- Morse Thomas combination,
the formation of which had not even been sus-
pected by the other party until within the last
four or five days, carried all before 1t in the
Mercantile National election, reducing the men,
bership of the board from thirty-one TO nine
teen. dropping nineteen of the old directors,
among them Edwin Gould, and all of the repre-
sentatives of the Gould interests in the fnsti-
tuition, and electng seven new directors. The
following statement issued after the meet
ing in behalf of Messrs. Gould, Morse and
Heinze:
''The vote unanimous. No contest what
ever occurred. Any differences previously ex-
listing between the parties were satisfactorily
adjusted in advance of the meeting
Representatives of the Gould interests, after
the meeting declined to add TO this statement.
Mr. Morse also refused TO comment on the out
come of the election. 1t could not be learned
whether or not Mr.. Gould had sold his stock
holdings TO the interests. 1t is reported
that F. A. Heinze is to become president OF the
hank as successor TO F. B. Schenck. whose
decision not TO be a candidate for reelection
was announced in yesterdays Tribune, and who
was yesterday afternoon elected president of the
liberty National Bank.
The following members Of the old board were
dropped: 2. B. Schenck Edwin Gould, Charles
P Armstrong, 2. T. Jeffrey, Emanuel Lehman,
Robert C. Clowry William Nelson Cromwell.
William J. Curtis F. l. Eldridge, William r.
Young John Shelton. Isaac Wallach, Benjamin
NichoIl, A. c.. Paine. Adolphus Busch. George
H. Sargent, Abraham Stern William H. Taylor
and Ernst Thalmann. The new directors are
Richard Young. F. A Heinze. A. P. Heinze. c.
F Thomas Chester Glass. Stanley Clifford and
Max H. Schultz. The following members of the
old board were reelected: w. F. Carlton Will
lam Balm, J. F. Kehoe. s NJ Milliken, c. w.
Morse H F. Morse, NJ. NJ. O'Brien. Dick s.
Ramsay, William Skinner. E. r. Thomas. r. n.
Thomas and Warner Van Norden.
F. Augustus Heinze also elected yester-
day director of the Consolidated National
Bank which is controlled by E. R. Thomas and
his friends Other new directors of this bank
are Abram De Ronde president Of the Palisade
Bank Englewood, n. J.: Cornelius n. Pugsley,
president of the Westchester County National
Bank, Peekskill. n. Y. and c. NJ. Livingstone,
vice-president of the American National Bank.
Washington; r. H. Lynn, president of the lat
ter institution; z. G. Burgess and A w.
Thompson, retired. In the Northern National
Bank four directors were elected to fill va
cancies, Stanley Clifford. close business asso-
ciate of Mr. Heinze; Cassius NJ Wicker, WILL
lam BALM and Paul T. Brady. In addition 10
his representation in these three national banks
Mr.. Henze is interested In the management OF
of
brother, Arthur P. Heinze is a director. and
which F. A. Heinze and Charles n. Schwab are
said in Wall STREET to control
AS already noted, F. B. Schenck elected
yesterday president of the Liberty National
Bank. Prior TO the organization of the board
by the election of officers he had been elected a
director, succeeding Charles Steele, resigned.
AS president Mr.. Schenck succeeds z. c. Con-
verse. who had been head of the institution
since the resignation. about four years ago. Of
Henry P. Dawson, who retired 10 become vice.
president OF the First National Bank
Mr.. Converse, who is also president of the
Bankers Trust Company, has within the last
year withdrawn from the directorate OF many of
the corporations In which he is interested, and OF
late has been anxious also TO relinqush the presi
zdency' Of the Liberty National Bank When he
learned that Mr.. Schenck would be willing TO
assume that office. arrangements promptly were
made for the change in the presidency which
was effected yesterday.
Changes made IN the boards Of directors OF
the Irving National Bank and the New York
National Exchange Bank were. had been pre-
dicted. In line with a plan for consolidating the
two institutions. control OF which has been OBJ
tained by Chicago interests among them being
according 10 report, the packing Of
Swift & Co.
The new interests represented by William
A. Tiden. cashier of the Drovers' Deposit Ma
tional Bank, of Chicago who is a director OF
the Irving.
AT the meeting Of the Irving National Bank
Samuel S. Conover retired as president and
Charles L. Farrell, formerly vice-president was
elected president. Benjamin F. Werner was
reelected cashier and Theodore F. Wfitmarsh
and William H. Barnard were electsd vice
presidents. The following directors were elect
ed William H. Barnard. Theodore F. Whit
marsh Charles H. Dale. Charles L. Farrell,
William A. Tilden. William F. Burrows Charles
R Hannah Robert B. Armstrong. Benjamin F.
Werner j. P. Davenport. G. ". Morgan D. p
Morse, l. T. Moster and William H Dunlap
This ticket was elected unanimously, more than
two-thirds Of the stockholders voting the minor
.ty interests having recently sold their holdings
TO the majority interests, President Farrell
said, regarding the proposed consolidation of the
Irving National Bank with the New York Ma
tionsl Exchange Bank
1.-THE matter Of the consolidation Of the two
institutions is one entirely for the discussion Of
the stockholders, and IT will. be brought to the
attention of the stockholders of the Irving Ma
tfonal Bank at once. The policy of the Irving
will be. as heretofore to best serve the business
interests of Its customers and friends
II the two institutions are consolidated as is
probable. the combined assets will be more than