New-York tribune., 1909-12-25
SELLS TRUST STOCK
SPEYER s co. BUYERS.
Tanderblt Estates Union
Holdings acquired by Bankers

speyer a CO. have purchased from the
estate cf Cornelius Vsnderhilt about one
thousand shares of stock of the Union
Trust Company a. a price understood 20
faNe been close 20 N.pa share. The
market hid price for the stock is l.s1S.
compsring With l.2,5 a week aEo Nr
Nanderbilt ~ his death owned la shares
~ the stock valued IN the schedule fled
With the Surrogate IN December. 1870. 81
s 80 shsre. but rhethsr or not his estate
stin holds the remaining s7o-odd shares
could not - asoertained yesterday.
The block acquired by Spever a CO,
n hich gives that house . very strong DO
tition IN the trust company. amounted 20
ahout ~ per cent ~ the total l0.eoo shares,
snd was ali that was offered for sale AZ
this tine. Another leading banking house
was bidding Tor the Vanderbilt holdings.
the purchase o. which ~ q might. ac-
0ordlng 10 Nau Street report. have paved
the V.sy 10 consolidation of fhe Union with
some other trust companv
TIE U-uion Trust Coranarv IL one - the
is-gest institutions IN the trust company
feld ana one - the most conservsrivsly
r suaEed r. has alvavs kept clear of in
rf-lste af5liation with any % the great
financial groups. although r. has sometimes
.esn clsssed among the so-called stand
s-f OF" INSTITUTIONS
re purchsse ~ Speyer CO n Is under
sreo6 hsd as its principal object the desire
- maintain that conii-lcn OF independent
management and. further. - insure that
no other trust company should obtain con
r-o' ~ rhe institution.
Th@ transaction met The approval of
James T Woodward. president 81 TIE Han
over Naticual Bank. Who Is ,erhaps the
most influential member Of che board o.
she Tni0r Trusr. OF which James Speyer
nss also b-en = trustee fcr about ten years.
The Tnion Trust Company. which began
business IN lse4 has capital of sl.ooo eoo
or which annual dividends of - per cent
80 nsid T. has = SURPLUS of s. ,ooo
- aerosits aggregate shout Sc .eo. and
srnong SIS customers Is John n Rocke-
fsus-. who keeps ais personal account there
Ths company has for long time made
. snerialfv 81 trust cstste business. sn6
rss never been IN sympathy with latter
Fav notions of TIE scoTe of trust COM
u,r- acti ritiss The conservative policy
~ ths lste EdVsrd KirE. for rhirty-nvs
Years - president has been adhered 20
since RS death IN November Of last year
The van6erhilrs were the more willing 70
sisnose % their holdings because OF the
far- thar they had no representation on
~ hoerd cf trustees The nst OF trustees.
uhich shows no rr~doninsting financial
influence is as follows.
lanes r woodward James Speyer.
rnsrIss II I'VE ID formerly . partner ~
Erevs- = Co Walter p. Bliss. Amos T.
r-c Richa~s T. Wilson, Y. Enalen Roose-
-alt ADRIAN Issiin. ir Robert ". Goslst.
Alexander : cochran. Frederic Dep. Fos-
r~- n Van r. Kennedy. Harrison T.
Gav---. - Parker Shortrides. John Y. r.
Thaver. Augustus Kelley, acting president
ar,o-v 8 Carhart. william woodward and
James Gore King
The PIE sidency has been vscsnt sine rhe
fearn. several months ago. 81 sohn "
Css-les. but 4 IS understood that The place
sr sacr 70 be permanently thec-
Tl-r Tnicn vas the first trust company
fc sewer connection win tho Clearing
House beoause ~ dissatisfaction with the
rr's sdopted by fhnt BODY relsrlng 70 trust
re-rra-v reserves Its action m ceasing 70
lear tlircsen o rleulb~r instituti ~, IN 80
rs-e The Hanover Nartcnhl Bank wss fol-
l-r-sd ~ prscficall- an ~ the other trust
-r-11snies n greater New Tork.
In the manic ~ October. lsG. President
rr.-z acres as chairman OF tie rstef com
v----ee ~ rSs syndicate known a. the As
sg-isr4d Trust Companies. which advanced
: t1tsl a about sss.eoeeo 20 the trust
r-ra-ies which were threatened w.th dis
sz.-r r..rough rlrns-