New-York tribune., 1911-01-14
BANKS SHIFT OFFICIALS
ur Frew to Head Corn Exchange,
with W. A. Nash as Chairman.
NEW SYSTEM IN OPERATION
uou Street Tries to Guess V. P
snyder's Successor in the
Bank of Commerce.

william \. Nash, president Of the Corn
exchange Bank, is about to follow the eN-
,n,,e OF A. Barton Hepburn. OF the chase
,.-.,.,o, and relieve himself Of the burden
~, 5etou of the routine Of bank presi-
- work on January Is he VIII retro
,,or the presidency Of the Corn EHcha"Eo
port and become chairman OF the boaru
- directors. Walter T.. F-cw, Nce-presi-
at NJ the bank, viii succeed him. MI
t.o,y renrosonted the Corn Exchange Bank
:, the conference at Paul d. Cravatn
-. last Sunday night that settled the
,o,. NJ the Carnegie Trust Company a.
,,c,ors and relieved the situation ot INC
Madison Trust Company and the Nli'e-
,.enth and Twelfth Ward banks.
The creation Of the new place for MI
Nssh by the Corn Exchange Bank makes
:, ,be 9ftn IN this city to adopt the pohcv
:, having an executive head who would he
rspeved from detail work so as 10 devote
81. ,in,s 10 the larger affairs Of banking
no,,cv TIE National City Bank led the
,.ao in January, 1909, when James Sullman
resigned as president and the directors ap-
,o,rted him chairman Of the board FRANK
A Vanderllp. who had been vice-presldehI
~ the institution, succeeded MI Sullmah
as president. Mr.. Stillman had been spend
,ng several months Of each year in Europe
,or some time and a large part OF the
conduct OF the bank had already devolVed
on Mr.. Vanderlip.
About the same time Mr.. Stillman ceased
10 be president of the National city BahN
similar change was made in the FIRST
National George F. Baker retired as presi-
don, and was made chairman Of the board
NJ directors, while +. L. Hine. Mr. Bakers
son.,n.Iaw. was made president. The Han
,re~ National Bank solved the problem II
fsccd through the death Of James 7. Wood
vard fits president, by adopting the system
Of having 10th president and chairman
of the board.
lanes 4. Donald and william Woodward
both vice-presidents Of the bank, we're Oo'h
candidates for the presidency. Inc d.
rectors got out of tho difficulty by making
Afr Donald chairman Of the board and MI
Woodward president. a. Barton Hepburn
of the Chase National changed from presi-
dent Of the bank to chairman Of the board
of directors on Wednesday last.
Guessing was rife in Wall Street as TO
who would succeed Valentine p, Snyder as
president Of the National Bank OF COM
rnerce, and no intimation came from the
Morgan banking house 10 help out the
ruessers. II was generally recognized that
whoever the man might be he would he
Mr.. NIorgan's choice and II was believed
that the necessity Of naming man for TINS
iDnortant post had a great deal TO do with
the postpOnement Of the fndncier's Trip 10
Furope Mr. Morgan's appreciation or
Henry 2 Davison's abilities suggested him
rs a likely man, while w. II. Porter was
another Of whom Mr.. Morgan thought
highly. but he had just come into the
Morgan firm from the Chemical National,
and II was not considered likely he would
70 soon be returned 10 the banking field.
Gates w. McGarrah, president Of the
Mechanics and Metals National Bank, was
looked upon as another likely TO be chosen.
Eut since the merger Of the Mechanics and
Metals with the National Copper Bank
lie has been at the head Of one OF the fore
most banks Of the country, and il was not
considered probable that he would care to
change. This revived the rumor Of a
merger Of the National Bank OF Commerce
and the Mechanics and Metals which had
been heard IN the financial district several
times.
Rumor has said also that the new head
FOR the institution may be found outside OF
New York, and this has brought Secretary
MacVeagh Of the Treasury Department into
the field. But Mt. MacVeagh holds almost
as high place iu tine banking world
through his Chicago connections as he
would have II he assumed the leadership
Of the National Bank Of Commerce In this
city.
Two or three minor changes in banking
circles caught attention when the Corn
Exchange and the National Bank Of Com
merce were not under discussion Bryan
J. Kennedy was elected first vice-presi-
dent OF the Hartman National Bank, for
merry the Night and Day Rank. He was
chosen also director Of the Night and
Day Safe Deposit Company.
James Z. Jourdan was elected director
Of the Peoples Trust Company Of Brook
Iyn, 10 fill the vacancy caused by the
death Of his father General James Jour
dan. John F. Hildebrand. head Of the