New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1911-06-15
CHANGES BANK CONTROL
Fourth National interests Blu,
Stock in 18th Street Bank.
JOHN F. CARROLL GETS OUT
James G.. Cannon Becomes Vice
President-Change in Name
Is Expected Soon.

large amount Of the stock If the Four
tenth Street Bank II was announced yes
terdav. has been purchased by James @.
Cannon. president OF the Fourth National
ra,k. and some of his associates in the
control Of that institution: and close rela-
tions will I'm future exist between the two
hanks John F. Carroll. formerly deputy
leader of Tammany Hall. retired yesterday
as a vice-p-ssident OF the Fourteenth
Street Bank and also as a director, having
disposed Of his interest in the bank.
Four other members Of the board also
resigned and the places of the five were
ausd bv the election Of Mr.. Cannon, sam
mel s Campbell. vice-president OF the
Fourth National. Welding Ring, exDresi-
dent % the Produce Exchange, who Is
director of the Fourth National Moreau
Delano. of the banking house of Brown
Brothers & Co, and Henderson NJ. Wolfe.
chief auditor OF accounts Of the Depart
wont of Finance of this city. Mr.. Wore
,,.os also elected a yice-president and Mr..
Cannon chairman Of the executive commit
tee.
r. Ross Appleton. who has been lresi-
dent of the Fourteenth Street Bank lot
about ten years. will continue In that OF
fee and Richard I. Brewster VIII remain
, ,.ice-nrAsident II is understood mat the
rsr7a Of the institution will be changed
coo, Charles w. Morse bought conroi
90 tho hank In December 1901, at Whch
.t,,s 1obr carroll who had been asso-
oiatad with him In various enterprises
,,.-.ic,,larlv the American Ice Company
',as elected vice-president. Mr.. Morse
connection with the bank ceased az me
time ~ the 1907 panic. when he retired
from, all 81 the banks IN which ne hau
been the dominant figure.
Tho Fourth National Bank. whioh mas
been making rapid progress under l's
,rese,4 management. has 100000 capi'a'
and g s75.o55 surplus and undivided prof.
t. Tic deposits. as reported 10 the tom
.ro,,or If the Currency under the call OF
rr,o are s4S.A07 SO. Its stock IS quoted
AZ pa bid and 20 asked. Inc capl'a. -. -
tho Fourteenth street Bank is N"V'V'
and its undivided profits amount 70 49,
am r. has deposits OF '6so3'6Oo Inc la' .
est quotation for its stock Is lio ola anu
80 asked. Both banks are mem oers u
the Clearing House. the Fourteenth Sur-'
Bauk having been admitted IN April I'''.
Tho main Offices Of the Fourteenth SH'''
rank are at Fifth avenue and 18th street
and a. has two branches. the Gansevoort
a. Ninth avenue and 18th street. ana me
Fast Side. AZ No. 55 Grand street
Several national hanks have ootalneo
controlling interests in other banking in7u-
tutions through stock purchases by men
Identified with the management. however
and not by the national banks directly, ar
the. are not allowed 10 maintain branches
The most recent instance. only week OIL
two ago. was the purchase Of large
interest in the Pacific Bank hy Presideh
clarke Of the American Exchange Ma
tonal Bank and others connected with me
control OF that bank
N January Merchants National Sahr
,-+aree+s bought into the Hartman Ma
.,orsl Bank. formerly the Night and DAY
Rank The National Park Bank has fo'
,,ssrs been closely affiliated with thre'
s.s+A hanks. the Mutual, Plaza and Noun
Norris through similar investments an'
National CITY Bank interests several years
ago made large purchases Of the stock o
the citizens Central National BANK 'n'
| columbia Bank the Bank OF the Meuop
oils and the Fidelity Bank.