Los Angeles herald., 1909-01-17
IMPORTANT BANK
DEAL IS CLOSED
LOS ANGELES AND MEXICAN
FINANCIAL ALLIANCE
j. w. Neeland, President; John W.
Mitchell and r. G. Edwards, Vice
Presidents-Large Inter-
ests Involved

Los Angeles soon will have another
ten-story bank and office building of
modern design which adorn the north
east corner of Broadway and Seventh
| street. The structure will be erected
and occupied in part by the reorganized
| Bank of Southern California, whose
capitalization will shortly be increased
to 100000. 1t is probable that $500, 900
to $4,000 will be expended in the cree
ton of the new building.
Important Bank Deal
]. M. Neeland, vice president and
general manager of the Pan-American
railroad, and George I. Hamm, presi-
| dent of the United States Banking COM
pany of Mexico, and Col. J. B. Lanker-
| chased majority of the stock of the
Bank of Southern California, which was
established several years ago by Col.
! Lankershim at the corner of Seventh
| street and Broadway. The new in
terests have increased the capitaliza-
ton to $300,000, the additional 100000
| having been quickly oVersubscribed
when offered. Later the capitalization
will be increased to 100000. This con-
| solidation of financial interests is one of
| the most important to the commerce of
Southern California that has been
noted in recent years, as it creates a
close alliance with the United States
| Banking company Of Mexico, a $40, 000,-
| 900 corporation. With such an alliance,
| together with the influence and wealth
represented by the parties in interest
| and their friends it is claimed that the
| bank will become at once one of the
| strongest and most influential financial
| institutions in Los Angeles and will be-
come stronger factor than ever in the
/ brill
| California. The purpose of the new
management is to make a speciality of
Mexico and central American bust
nesses, which it is claimed has been
neglected in large measure. Mr.. Nee
land and Mr.. Hamm, who possess heavy
! interests in Mexico and strong per-
sonal influence, plan to bring large
amounts of outside capital to Los An
geles to accelerate trade relations be-
tween Mexico and the United States.
Officers and Directors
| Below are the officers and directors
| of the bank:
]. NJ. Neeland, president! ]. B. Ian
kershim, John w. Mitchell and F. E..
| Edwards, vice presidents; Henry A.
Colt, secretary, j. 7. Mum, assistant
secretary; George L. Hamm, l.. j.
Wilde, w. E. Hindry, M. Klasser, W..
! w. Mines, Frank A. Cattern, H. j.
| Dlhe, LuClen GRAY, LOUIS L. IdppelIl6F
and B. Harlan.
President Neeland for several years
has been a prominent figure in financial
affairs in Mexico, and associated with
him in the present enterprise are many
men of great wealth in the Mexican
republic. Mr.. Neeland is one of the
largest stockholders Of the United
States Banking company Of Mexico and
| is heavily interested in five other banks
of the republic. Some years ago he or
| ganized the Bank of Chiapas with $780,
| 900 capitalization. M. N. NeWmark of
Los Angeles was interested with MIR.
Neeland in the Chiapas bank, and will
later become large stakeholder, direc-
tor and officer Of the institution.
F. E. Edwards will be an active vice
president of the Bank of California in
place Of w. H. Hubbard. He is a
! graduate of Harvard university and a
! is large capitalist.
! Henry A. Colt, the secretary, is the
confidential representative of President
! Neeland.
The assistant secretary, ]. T. Bum,
| is a banker of years of experience.
Among those interested with Mr..
Neeland and Mr.. Hamm in Mexico who
will become large stockholders are w.
| E. Hindry, now residing in Pasadena;
Mr. Klasser, who is said to be the
anthony king of the world; B. B.
Earlan of Boston, Lucien Gray, a
prominent attorney and capitalist, for
merly of Illinois; w. w. Mines of
| Mines & Parrish, real estate dealers,
and others of equal prominence. Col
onel Lankershim and Mr.. Mitchell will
! be the only officials of the old regime
who will remain with the new organi-
cation.
! The sale of the interests taken over
! by Mr. Neeland and Mr.. Hamm and
the alliance with the United States
! Banking company were initiated by
John W. Mitchell, who first interested
Mr.. Neeland in the enterprise and
pointed out to him and emphasized the
! great advantage of a closer relation
! between bank here and a bank in the
| City of Mexico, the exchange alone be-
/ tween the localities amounting daily to
| thousands of dollars.
| Colonel j. B. Lankershim soon will
GO abroad for an indefinite period. His
| banking and other large interests have
! kept him at home too closely and he
welcomes the change and the new
and larger corporations. He will con-
| tinue to remain a stakeholder and Of
! ficer Of the bank and will do all he can
| to advance it's business interests.
Speaking Of the future, President
| Neeland said: Il hope and believe
this will be an important factor in
| helplng to eStabllSh larger business
relations with Mexico and Central
America. Closer relations will be es-
| tlblished with the United States
Banking Company Of Mexico and the
Bank of Santa Cruz. We shall con-
| duct a conservative business and be
| content with the profits that come
only from legitimate banking transac-
lions. My confidence in the future
| growth of this wonderful section forces
me to think we will make a great sue
cess of this bank. eW are fortunate
| in being able to retain Colonel Lam
kershim's good will and influence and
to have him remain as a large stock