New-York tribune., 1911-03-25
BUYS BANKS CONTROL
Syndicate Takes Halt Insurance
Holdings in Bank Of Commerce.
MAY GET THE REST LATER
Morgan. Kuhn. Loeb, First and
National City Banks Act Tor
Community of interest.

.-,. ~.tional Pank OF Commerce control
-, has for several years rested win tne
,-...,,sb,e Life Assurance Society ana tne
-, life Insurance Company. which
,sld respectively 5o.ecl and S6.oSS
II. on, cf the total c50.ooo. has passed
indicate of great banking interests,
.A,.h includes members Of the hrm OF =.
=, ,,.,r~en 4 CO ard Kuhn. Loeb 20. ana
---es,,tst,yos of the First National banH
- ,ne National city Bank. The svudi"a''
-. bought cne-half Of tho hoidin-s OF
of the two insurance Concpanies or
-. $3.50 shares IN all. which viii the
- .ir4sdv owned hv The SYNDICATE inter-
... --1 eve them little i"ss than one
80 NJ fhA Bank of Commerce en'he
- o. 2 Sood working control The pnI-
- .-+-e i- understood 20 have been 500
care which represents q small proat -
- E,1i-sele and handsome profit 30 me
rftral III"
p. has rseu common knc~ le7Se tor some
.,e t,,t ul1ns have oson under considera-
,-, f-r bringing Che Bank Of CONNER .
trio ttr 'orsl banking community ~ in'e'
,.-- s-ideuced hv tho cooperation since
-. -a0- raric of tne Tirsf National Rank
-.stoaa1 C1-v BANK ] r. Morgan d. Go
.,l karn Loeb a. 60 io many ndicsf1
,,se--~,-.~zs md bond operations and 7s
eo,,5 20 TIE Tribune fortnight g. frank
--s-d-r'r president ~ the National CITY
r-~. -~l Francis T. HIM. president - The
r.--. 81. .-uaI Rank. -re soon 81" b7 elected
s.~s-.or- of the National T3nk ot com
--s-re 7,-r rrcharlr also Alber' " Ni@gln.
-.,r-1e-- ~ the Chase National BanS
,,,~t ,s closely affiliated With the First
,a.ersl ana the Morgan hN'e@. al'houeh
o.. .r.t iecis.on has been rea-Hei as 70 III
vice,r
TIE i.te insurance .onpanies control n
,be Nsuoral Bank % Commerce has not
been control unfrierdl-' 20 the Morgan
.-,ere-rs and y IS tre vteV OF Wan Street
.-.. rs transfer iirectlv 10 the banking
--,,r has been arranged fo~ 'he present.
.r--e4l ~ later or tn ordcr that The plans
to- strengthening the institution and en-
,.,-,,z 're scope If lrs operations may he
.,orss6 -ut as speedily %. poss'h'' these
-rsr- including the participation m -
..o.t .rrershir of the powerful interests
s4er..-es with tho National city Bank con-
f-oi
rnr--- -rs tU now peH-ins a. Aiosnv
.-.u become law. re-cindiu- the provision
20 -re Insurance law requiring life insur-
.--e companies 90 part WIFI all Of their
-.ory no'5ines hv December n of this .esr.
pc r1r'ste and the Mutual Life will
,,i.rlr rho rey- few months he obliged to
.er their remaining holdings of Rank of
Commerce stock. and it is not doubted that
'.ese largo .ocks viii IN trat case pass
.--o The bands of the syndicate which has
.ust purchased cne-half of the two COM
rsris. holdings Of the banks stock a.
r,oucn the additional shares. which with
t-s ,tao. already owned bv tho banking
.--crc-t- would amount 20 about 50 per
.sr- vrH'd mo-. 10 required 20 give effective
control of Tho institution
Toe National Sank of Commerce. rko tho
National City Bank has Sc5oooooo capital
Stock ITS deposits. according 20 last
weeks hank statement. are tl4.7'i ~.
-omraurc with fhe city Banks sl@.2f1-
e6. and its loans amount 20 S'5s. ioo 90.
s-sirst the other tsnks S173 200 The
Sank 0f Commerce has surplus and un-
divided profits ~ sl7"o5.S S0o snd the Ma
aor.l city Bank. $s41G.Soo The First
Nsuorsl Bank. with No~oooo capital and
- io surplus and profits has Nl3,5l3, o.
~ DEPOSITS and H-f6 M loans