Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1909-12-09
CHARTER
GRANTED AMERICAN
COMMERCIAL BANK
Change to National Institution
Nade Today and Capital Stock
Increased to $500, 900.

Tic American Commercial Bank, ia-
Gated in Springfield avenue, which
began business on November 10. 1905,
was opened today as a national bank
President e. C. Bataille having received
a telegram from the office of the Comp
troller Of the Currency at Washington
that the application of the directors
had been granted, and that the charter
of the American National Bank of New
ark had been mailed, and the institution
could do business as a national bank at
once. Il is number 9,605 in the list Of
national banks.
The bank was incorporated last year
as a State institution under the laws
OF New jersey, n the ineorporatore
we're Leon Stears, Charles Stopper,
John II. Berger. James 3. Banister, II.
W. Foster, James e. Nolan, Z. c. Ba-
tailie, L.. j. BurgesseT. George =.
Weber III DR.. carl H. Wintsch.
AT the organization meeting these
were elected directors: James 3. Ban
lister, president of James A. Banister
Company; John Bladder, OF Haussling
& Bladder; e. c. Bataille, John II.
Berger. merchant: II. w. Foster, presi-
dent of the Alcohol Utensil and Manu-
featuring Company: John 3. Foster.
president of the, John r. Foster -
Brother Co.; Worthington II. Inger-
soil, president of. the Ingersoll Com
pany, Hamburg, \. j.; G. r. Munroe,
lawyer; James V. Padula. banker;
George ]. Schmauder, manufacturer;
Leon Stears. Kruger Auditorium;
Charles Stopper. contractor; George +.
TIJAha, - NEr1tx. T1.lt,. -.
Charles H. Wintsch, physician; VIII
lam w. Woodward, president of the
Woodward Hardware Company. New
ton, n. j.; John NJ. Lederer, and
George w, Jagle. president J.. j..
Hockenjos Company. They are direc-
tors yet.
The officers of the bank are: e. c..
Bataille, president; James B. Banister
and DR.. Carl H. wintsch, vice-presi-
dents; Louis J. Burgesser, cashier, and
Edmund A. Rung, assistant cashier.
Albert s. Nebb is head bookkeeper. The
bank was organized with a capital o..
$50, 900, November 27, 1908. eight days
after the bank vas opened, the de-
posits totaled SIS, 1888. and on June rs
last, sever months later. the deposits
had increased to 1926, 1865. At the close
OF the first year, November 10 last, the
deposits had risen to about $500, 600.
Now the loans and discounts exceed
$340, 900, and the cash on hand and in
bank is wei $40. 600, and the stocks and
bonds are valued at about $4,000. The
deposits approximate upwards Of
$450, 900.
Three months 6 the directors voted
to increase the amount of capital stock
from $780, 900 to $500, 900. ask the Comp
| troller of the Currency for a national
bank charter, the increase in capital TO
| go into effect after the charter was
granted. The officers and directors are
confident that with the increase in the
capital stock the business of the bank
will develop largely during its second
year.
There are upward of $50 stockholders,
and they are nearly all business men.
The depositors are mainly merchants,
manufacturers, mechanics and work
ingwomen lin the territory west of
Broome street, to the city line and south
of Thirteenth avenue to Clinton ave
nue., probably beyond it. for the Bel
mont avenue trolley cars tap the Clin-
ton avenue line, and the Bergen street
line extends south of Clinton avenue.
President Bataille is a young man who
has had an excellent training as a
banker.