Virginia gazette. [volume] (Williamsburg, Va.) 1893-192?, 1913-01-16

York. Both OF which. Until recently.
he controlled
Questioned BY UDtermyer Ss 20 MS
occupation. Mr.. Baker said. am
so popeed 70 he a banker. l am chair
man or the board Of directors OF the
FIRST National Rank. OF New YORK.
chairman OF the executive committee
and once was its president
lie was elected 20 the preside0cy
OF the bank IA 1874. re stated
O. what was the capital OF the
bank when you became president
asked Untermyer.
2. And what WSs the amount OF
the surplus and undivided proots In
A. II amounted 70 ss1I.l3S-
Inc-caSc I'm Panic.
.. That WSs during the panic times.
VAS u not
A. Yes
=. AND your bsak increased SIS sur
plus and capital during the times O.
a. should not think that WOULD !
Unter1nysr then read from a report
! showing tNat ERE First National Bank
$50 = caritsl ~ $3.50. 600 and sur
Plus az s1sl.SSs in 1873.
Baker admitted these figures 70 oe
4 correct Continuing Dnterruyer asked
f When WIS the capital q your hank
a In 1904 IL WAS increased from
100000 % S1O.oOo.ooo.
- WAS this brought about by the
dlvoerds O. the hans-
A. Yes The profits q shat year
were SS.41s.ooo-
- Wlu you sive the percentage OF
dividends since the capital q tne
t,srk Mss incrcssede
a In 1893 Il vas 20 per cent. IN
1908 and 1894 q was 20 per cent; in
1893 lt was e1L per cent m 1895
q WAS 60 per sent. in 1907 20 vas 81
Ger sent. on lses . vas - per sent.
in 1893 it vas IS per cent, in 1910 -
vas Is per cent. ga 1871 q vas ac
r.e- cent and cur showing 50 far
|for 1919 is -1 per cent
-. IN 1eCS. when you declared a1
ezra 100 peg cent dividend. the First
Security Company. % NeW YORK. VA
formed
A. That is co-rect
Calls for Proofs.
Lrternycr thCn called FOR the pro
/ 6urticn % thc articles q incorpora-
I zion for the First Security Comp sr1
70 tht circular addressed 20 the FIRST
National Bank relative 20 the incor-
I poralCn and ala other papers re4Ai
irE GO The Transaction.
5 Baker explained that in the or
-a-i-atlun - the Firs- Security Com
ra-E only rle large stoch hol1ers rl
= -he FIRST National Ea-k we're c2-.rl
10 in 90 maintain control Prior % thl'
!. urEl-lzaIcu be began plrchAsin 4
4 stock in the Chase National Bank
+. Baker said De tecar buying about
IS ter years aEo and obtained contro
IS about I'VE years aEo- Ee did not =
- member how he had purchased IN.
- str--l SAYS that it was IN large blocks
e @ Doee the FIRST National San
directly or Indirectly hcl1 the Etoci
Dc % any other bank
IN A. zee bought the Chase Banl
.o st1-cx myself IL was tor the bench
q CO ire stockholders % our company
e. Uutermyer then reruarceo ina
De- Baker produce a lst showing IN
- ta-k holdings @ the FIRST Seclrlt
IN Company.
-- THAT "a our personal business, pro
e. tested Baker and we would pre-e
=. ma a. have mss list made public III
- 1rlr Stock Enar can interest lhls CON
l1 rltree ln Us Inquiry is that oi tl
|Cnase National Bank and "a bile Z
50 nu- object 90 showing YOU TINS 4l
personally. must protest cEa-n
- making public CI- private Affairs
II I-rterrryer examined tle Ast ar
.c. tnen stated thlt there were q nun
Gee Ley 90 holdings which ne desired
I1 make pullc. Baker orerea 40 ~
|ther objection and the list was rea
Increased Ftve Tines.
re --r r. r.rt -5t shares q stock g Il
az 81 .rrearclls B l-Er Nlt-Q-al han-. e
80 stare- rt tar r-e ca t.t
@ rr-at Company. --- s1-res ~ f-e
80 Bankers r--st Company. 20 sr4res
- r.e Brooklyn L---t rrrlf a,-t. -'.-
-se .ra~as irsr-as.rtlzE ccrrrc- cf
We chase Aat.--aA --rh. t.. rn-E 80
TIE s,auenai Ba-E - Cormec-
ana go shares of rhe Sew 1orS ~
stock q IRE Chase Natcr
Bank Baker SAD. p.1s s-rcrast- az T
-Ia- rrr-ra.t 81 ltr Etr.rti r--t - p
--.s ~. ~rrftsl - tle hark u
Y acreasee ave -lrss 90 q total 90 $50.