New-York tribune., 1909-03-13
TRUST COMPANY UNION
ABSORBS BOWLING GREEN
EquitabIe to Take OJer Business and
Retire Stock.

Resolutions authorizing the absorption OF tne
Bowling Green Trust Company h. the hqul'api7
Trust Company were adopted unanimouslE al Z
meeting Of the trustees Of the Equitable yesterdaF-
Later in the day the arrangement was approved
by the directors Of the Bowling Green. ana me
merger agreement was submitted to Clark VIII
Jams. state Superintendent of Ranking
Meetings Of the stockholders OF the two compa-
MES have been called for March 81. when the
merger agreement win he presented to them for
approval. and the merged company is expected 10
begin business on that day The Equitable trust
Company win continue at its main office. No 10
Nassau street. and. besides its Fifth avenue
branch will maintain for the present a Rowling
Green branch in the offices now occupied ny the
Bowling Green Trust Company
The capital stock Of the merged company VIII be
the same that of the present Equitable Trust
Cornpa -S2 onp-the stockholders Of >the 'atter
70 receive share for share in the new stock Inc
81 nno nH stock Of the Bowling Green COMPANY 's
10 be retired the stockholders 10 receive cash
for their holdings.
The value Of the capital surplus. undivided
profits and goodwill Of 'he Bowling Green COM
nam, has beer. fixed at S4112 06s %, which is the
equivalent Of S411 each share. the tatest olu
quotation for which is $3.50 share The stock
holders are 10 receive ifo % share In cash.
which will leave ta16s 20 for distribution among
the employees Of the COMPANY.
The surplus and undivided profits Of the bqutep pi9
Tr7Ist aggregate S1oGoao10 Its deposits AZ the ne
GINNING of This month gro so 4oa 41s and those Of
the Bowling Green Sl4.S35.767. :" that unoSf ''-
merger the Equitable Trust COMPANY VIII nave
deposits of approximately S4oooo"" us dl''eL'I
rate has been 16 per cent, and its stock Is a"o'"
Z at to 45A
The officers Of the merged company ere to he
Equitable Trust men. and the temporary hoaro 81
trustees will include only three Of the preseh' u
recfors Of the Bowling Green Company. 'oe or
fcers will he. Alvin ". Krech. president; La"re",e
l. Gillespie ard Frederick W Fnne, vice -preSl
Walker. treasurer.
The trustees selected are Charles Francis Adams
ID Charles E. Alexander, rhap n. Rr"uShtoh' faHl
u Cravath = r Coudert. ". II. Crncker, / pe
Wtrt ruvler William A. Day, VI. Hartley Dodge
John Z DRYDEN r II. Hartman, Thomas II. Hub
bard Bradish johnson, otto II. Kahn. AVN "
KreCh 1. F. T.oree, Paul Morton. Raiph refers
yinsIow S Pierce. Henry :. Redmond Valentine
P. SNYDER Edwin Gould. z. T. Jeffrey and Harry
Rronner the last three being the RoWnng Green
Trust Company representatives.
The F-arIitahle Trust Company. in which the
F,autabIe Life Assurance Society has always hel1
! large stock interest. organized in 'Fg WIN
a capita9 of 81. 1.1n"n, which in January. 1906 vas
Increased IN SnnNn Mr Krech has been US
rresident since June. 1915 Two years or more aEo
plan vas formed for merging the tqnitao" ahn
Mercantile Trust companies, but long litigation t''-
lowed. begun by ohisctnE stockholders. and AFTER
tho courts had finally decided I'm favor Of the COM
panies it Was announced that the projected com
bination had been abandoned
The Bowling Green Trust Company was formerly
the Produce Exchange Trust Company, when
closed its doors in December. 1S99- The late Thomas
A Mcintyre vas then yioe-rresiderrt and inc
chief figure in the management Edwin Could
was also enc Of the vice presidents The company
resumed business on January 10 1900. Mr.. could
and the late General Samuel Thomas having al
vanced the necessary funds. and these tNo men
we're elected respectively president and vice preSi
dent In June 1904 the name ~ the institution
cha gad 70 he Rou
under which style il has since then been conducted
The merger OF the two companies. 1t Is under
stood. is simply a development IN line With the
general movement for lessening tho number and
increasing the OF companies IN this city
in tbs interest of more profitable management. and
has II Is said no other significance. The Equitable
LIES stock holdings in the Equitable Trust Com
pany It is learned. have not been decreased. and
no new financial interests have come in, except
for the three Bowling Green directors