The San Francisco call., 1910-06-25
PLAN COMBINE
FOR MORE STRENGTH
Anglo and London, Paris National and Central
Trust Company Propose to Form
Closer Relations
BY PAUL sINSHEIMER

In line with the trend in modern
of establishment between the Anglo
and London Paris national bank and
the Central trust company. The plan
does not contemplate a merger or con-
solidation, but the dominant interests
in the national bank will become an
influence in the trust company.
There has been something of compe-
tition between three of the largest
financial institutions of the city that
has led during the present year to the
formation of new relationships. 1t is
a struggle for the position of primacy,
not alone in San Francisco and Califor-
MIA, but in the west The same activ-
ity has been noted among the banks of
New York, Chicago and cities of the
middle west. 1t was observed again
recently in Seattle in the amalgama-
tion of two OF the largest concerns
there.
COMBINATION FOR STRENGTH
The Bank of California has made the
most recent acquisition in its absorp-
ton of the San Francisco national AT
that time, however, the Wells Fargo
Nevada national. itself merger, made
successful overtures for a portion of
the accounts. The Anglo and London
Paris national, which in itself represents
a combination of banks, will strengthen
itself by it's new relationship with the
Central trust company. The details
are yet to be arranged.
With their deposits within close
range. the Bank Of California. Anglo
and London Paris and the Wells Fargo
Nevada national are subject to the
commercial rivalry that would naturally
arise. It is known that overtures have
been made by at least two of them to
one of the strongest of the lesser in
stitutions of the city.
NEW TERRITORY INVADED
At the same time that some local
banks are uniting for common strength
others are reaching into new territory.
The Italian American bank has de-
cided to establish a branch in Port
land. It was only recently that the
Bank of Italy made it's entrance into
San Jose
With the movement of the crops
there has been restriction of spec
ulative operations. The heavy yield
throughout the state will call into use
the greater portion of available funds.
Provision was made early in the year
for this situation, and now it appears
that there was no overestimate- In
nearly all agricultural lines the har-
vest will reach record figures. There
is no lack of money for these legiti-
mate purposes.
EXCHANGES REMAIN QUIET
The exchanges have experienced a
quiet week. There was little activity
in oils, and stocks were listless. There
was a slight movement IN California
wine, occasioned by the successful out
come of the insurance suits, bringing
to the company something in the
neighborhood of $250.000. There were
some sales at advanced figures. The
advantage will be reaped, however, in
the placing of the new issue of pre-
ferred stock
Peoples water and Spring Valley
were affected by rate reductions, al
though the supreme court decision in
the Omaha case was interpreted to
their advantage.
SOUTHERN PACIFIC ISSUE
Naturally the fotation of the South
ern Pacific terminal bonds has been
eagerly watched during the week As
was predicted. much of the issue will
be placed abroad, although substan-
tial allotment was made TO the United
States, including the coast cities of San
Francisco. Los Angeles and Portland
The issue carries 4 per cent interest
and acts as a first mortgage on the
terminal properties in San Francisco
and San Mateo county. Placed with
subscribers at 90, the bonds will net
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