New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-21


said he had been having great deal Of care
ana worry at home recently on account Of the
illness Of his daughter, who has typhoid fever
and wished therefore to be relieved OF the re-
sponsibiIity and onerons duties of the once OIL
president
Mr. Havemeyer only consented to accept the
presidency OF the bank after he had made a
thorough examination OF its condition ana sa /
ssfed himself that it was not only perfecty SOL
vent but in a strong position. Mr. Haveneyer
election to the presidency was understood 10 oS
decidedly agreeable t. the Clearing house COM
,nittee II is interesting 10 note that Mr.. Have
meyers father was president OF the NNliohai
Bank Of North America more than thirty years
ago
MIR HAVEMEYERS INTERESTS
Mr.. Hayemeyer is related to Henry o. have
never president Of the American Sugar Rem
ing Company ard is director in the 1oio"liis
corporations: Corn Exchange Bank Natlon"i
F2a,L of North America, Nineteenth ward BANK
Va, Norden Trust Company, Colorado eastern
Railway. Queens County Safe Deposit Company
Union Ferry Company. Title Insurance Company
Of New York Van Norden Safe Deposit Com
many. Century Realty Company Chelsea hea'E
company and New York Mortgage ana security
Company.
A.. enociaI meeting of the directors OF the
offices In the Western Union Building yesterday
,-,;,,s, Seth NJ AIilliken of the firm of Deering
NTiI,ilen & Co cotton factors, was elected pres
ident TO succeed +. Augustus Helnze' me
entire board Of directors. consisting OF Mliham
r Carlton Stanley Clifford, Chester GLASS Ar
t1ur p Heinze. F. Augustus Heinze' Edward l.
Jefery John F. Kehoe. Charles W. Morse
Harry r Morse Benjamin Nicoll, Miles, NJ
o'Brien. Dick S. Ramsey, Max H. schuitze'
William Skinner. Edward r. Thomas oriaho'
2 Thomas and Warner Van NoTden, at once
+erda,ad their designations to the newly elected
rrasident who will name a board Of directors
in tle near future. Mr.. Nillilen will take charge
Of the bark this morning.
C.errish H Milliken, son OF President Mill
ken. was elected director and a yice-preside"
Of the bank and William skinner was elected a
vice-presdent. Mr Skinner was one or the re-
firing directors of the bank. He has large ra1i-
road interests and is considered one OF the Tich-
est men connected with the bank. He is d.
rector in the Pacific Bank and IN the New YORK
New Haven AZ Hartford Railroad the New
York Ontario & Western, the Consolidated
Railway. the Contra! New England Railway
the New England Navigation Company anu
many other corporations. He is looked upon as
New York New Haven Hartford Ran
road man and it probably Mr. Skinner
connection with the Mercantile National that
gave rise to the Tumor that the railroad peoPle
might seek to gain control of the bank
President Mhken is a director OF the fidelsV
Rank. Van Norden Trust Company. Trust Com
pany Of America. and trustee Of the New YORK
Life Insurance Company. Colonial Trust COM
pany and the Bowery Savings Bank.
STATEMENT BY W. r MONTGOMERY.
In connection with his election president
az the Hamilton Bank to succeed Edward r.
Thomas. William Z. Montgomery. the second
vice-presideut CO the bank, made the following
statement .4st night.
E. y. Thomas sold large part Of his hold
ing 20 myself and a syndicate Of uptown busi-
ness n.cl. OF which I am the head. several
morii.s ago. We have lately completed the
purchase OF the balance Of the Thomas stock
ara s6aI take over -nInedia tey the active con-
troi o. ne bark 1 wish 20 add that during
Alr Tho.aas's administration. ne at no time
owed this bank directly indirectly. one dol
lar. :sor does he IT this time. William L. Ward.
T1esidcnt Of the Russell Burdsan and Ward
,lui ana Toit Works has been elected direC-
tor "a ill the vacancy caused by Mr.. Thomas's
retirement
1r. MONTGOMERY is q director ii no other in
siitutions except the Hamilton Bank, Of which
he has been the vice-president Cor several years
Isis election the head OF the institution Was
lavorably commented upon last night by up-
bank. As w8s announced IN The Tribune
Sunday the Hamilton Bank viii cease to-day 10
"lea- through the Mercantile National Banh-
No ether clearing, agent viii be sought for the
present, but The bank viii pay its checks over
The counter as The trust companies do
William 0. Allison, who assumes the presi-
dency Of Tie Consolidated National Bank in
Place Of Orlando T. Thomas, resigned. has been
q director in the bank for several years.
Air. Morse explained yesterday why lie re-
signed as director Of the banks he was associat-
ed with. although retaining ais stock holdings in
those banks
Mr.. MORSES REASONS.
40 bank could afford 20 lose its deposits" he
said. The public is sensitive TO printed reports
concerning the stability Of q bank, and if anv
unceTtaiaty IS allowed 10 exist and no effort
MADE tc clear sSay the tangle bank would in
al Likelihood suffer run. This would mean
loss in some way 10 the bank
The action taken by tire Clearing House is
the best cviGelce that the banks examined by
the experts OF re Clearing House are solvent
When tie Clearing House committee found the
bank 10 be solid they issued statement stating
they "oua help that bank meet its deposits II
any Lark in the Clearing House Association
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