The Washington herald., 1908-04-18

New York, April I.-Wall street ls
busy with a rumor that the National City
Bank and the National Bank OF Com
merce will soon consolidate. It is said
that negotiations are now IN progress be-
tween Frank A. vanderlip, acting for the
city Bank. and Thomas F. Ryan, acting
for the Bank OF Commerce, looking to
the purchase Of Bank of Commerce stock
from several life insurance companies,
which hold it for investment, and two or
three trust companies, OF which the
United States Mortgage and Trust Com
pany, the Morton Trust Company, and
the Guaranty Trust Company are the
chief Mr.. Vanderlip is at present in Eu-
rope, as is James stillman, the president
Of the National City Bank. and it IS not
likely that any immediate merger of the
two companies will take place until one
OF them returns.
The combining of the two banks into
one would produce an institution that for
size and Importance would only be riValed
by some OF the greatest institutions IN
the world. Ike the Bank Of France. It
would mean the bringing together OF
S50e00000 capital or capital and surplus
amounting TO SIS. .s43 200. and deposits 10 a
total Of S829. .671. 200. making the corpora
tiOn far and away the greatest banking
Institution in the United States.
Must Sell stock.
The enforcement of the Armstrong law
will soon compel the life insurance COM
panies, which hold the major portion OF
the Bank Of Commerce stock. to sell their
investments Of this nature. The Equita-
Die Life has Q,221 shares Of the stock and
the Mutual Life. 36,5S5 shares.
Sharp advances in the stock Of the
Bank of Commerce and the City Bank
have taken place in the last two days.
and many are holding on TO their stock.
II is said that Thomas F. Ryan has been
quietly negotiating this union for some
time, and is in daily communication with
the interests connected with both banks.
Mr.. Ryan refuses 10 talk about the mat
ter He is a heavy stockholder in the
Rank OF Commerce.
Following are officers and directors of
the two banks:
National City Bank-James Stiilman,
president; G. S. Whitson, F. A. Vanderlip,
William A. Simonson, Horace NJ. KiIborn.
and ]. A. Stillman, vice presidents; A.
Z. Albeck and J. Fl. McEldowney, as
sistant cashiers
List of Directors.
The directors are; Francis NJ. Bacon
Cleveland II. Dodge, Charles S. Fairchild
Henry c. Frick, Edward H. Hartman
Cyrus II. Mccormick, Edwin S. Marston
Stephen s. Palmer. George W. Perkins
James II. Post, q. s. WhitsOn N Taylor
Pyne. William Rockefeller. Jacob r.
Schin, William Douglas Sloane, John W
Sterling. James Stillman, James A. Still
man. Henry A &. Taylor, Moses Taylor
2. a. Valentine, and Frank A Vanderlip.
National Bank of Commerce-V. p
Snyder, president. and W. c. DuvaH
cashier.
The directors are Charles H. Allen
George i. Baker Charles T.. Barney. E
J. Berwind, C. Ledyard Blair John Claf
lin. Paul ID. Cravath, Frederic Cromwell
Henry c. Deming, John f. Dryden, Jane;
3. Duke, George J. Gould, Daniel Gug
genheim, G. g. Haven, Thomas II. Hub
bard Adrian Iselin, jr, Brayton Ives
James y. Jarvie. a D. Juilliard, Otto II
Kahn, Luther KOuntze. Alvin W. kretch
Woodbury. LangdOn, Charles Lanier, A
w Mellon. David II. Mcffat, Victor Mora
wetz, J. PierpOnt Morgan, Levi p Nor
ton, Paul Morton, Walter g. Oakman
James II. Parker. Charles A. Peabody
Charles II. RUSSELL Thomas T. Ryan
Jacob H. Schim, Valentine p Snyder
Frederick sturges, II. II. Nreeland, Harr,
Payne Whitney, and George ". Young.
Vice President Smith, Of the Nationa
Bank Of Commerce, said to-day. whel
asked about the report:
Il know nothing about it. If It wer
true I would probably have heard Of it.
At the National City Bank, Vice Presi
dent KiIbourne denied the report abso
lutely.