The Birmingham age-herald., 1914-01-20
Speculation About Hurried
Summons of National City
Banks President
PROBABLY RELATES
TO NEW BANKING LAW
Stillman Eager to Carry Out Plan to
Establish Branch of National
City Bank in London
at Once
By HOLLAND

New York, January ls.-{Special)
Should there be no delays upon the At
iantic ocean, Frank A. Vanderlip, presi-
dent of the National City bank. should
be in consultation with the chairman OF
the board James Stillman, at Mr.. Still
! mans home in Paris, today, Tuesday,
January 20. 1t has been presumed that
| President Vanderlp responded to a hurry
call from Mr.. Stilman, this presumption
being based upon the expectation of
President Vanderip of remaining In New
York until after President Wilson has
| nominated the members of the federal
| reserve board.
| All sorts of guesses have been made
| by those who try to explain the evident
hurried departure of President Wander
| lip for Paris. Undoubtedly Mr. Still
! man summoned Mr.. Vanderlip for CONSUL
tation upon important matters relating to
the management of the National City
bank. Yet it hardly seems to those who
are familiar with prevalent conditions
| in the banking circles in this city as
though this summons could have been
made exclusively for consultation about
| siAS eNtioh Whieh iilt 4Ndllp0dl 1lty
| bank will take so far as membership in
| the new national banking system is con-
cerned.
Those who are best informed have been
| FOR some time persuaded that ii is Mr.
Vanderlip's judgment that the better part
| for the National City bank to take will
| be that of membership in the new ma
tlonal banking system. There may have
been some mental reservations, occasoned
chiefly by doubt about the qualifications
of those whom the President will name
| to the Senate for membership In this
board.
The meetings of the stockholders of
the narlonal banks last week did not re-
suit In getting any strongly affirmative
sentiment from the stockholders. or in
| fact any sentiment at all respecting
membership in the new system. In al
most every instance of which there is
knowledge these meetings were attended
by only one or two stockholders. AL
most all of the stockholders sent proxies,
and that is accepted as good evidence that
FOR the most part the stockholders of
the national banks are willing to- leave
to the judgment of the directors the de-
eision of the question, "Shal the bank
become member OF the new syStem?"
Mr.. Stillman in Europe
About a year before Mr. Stilman re-
signed the presidency of the National
City bank, accepting In place of that
office the post of chairman of the board
of directors, he took up his residence
in Paris, although he was for part of
the time each year in London. The gem
eral comment of the Wall street district
was that Mr.. Stillman was disposed to
begin life of cultivated ease. He had
created the greatest of American banks.
having accomplished that in about 10
years time. He was, comparatively
the presidency of this institution His
exclusive vocation up to that time had
been that of cotton merchant, a busi-
father who was very successful in that
field.
Nothing but the intimate relations
which had been established by Mr.. Still
mans father with the National City
bank and with Moses Taylor. its great
president, and a very strong and yet al
most sentimental regard the senior Still
man had for the institution would have
induced James Stillman to accept the
presidency, which he did with some re-
luctance.
But, having done so, Mr.. Stillman speed
lily realized that a new era in American
banking was beginning. and that the
time had come for establishing on broad
lines an institution which would be not
only of honorable national influence. but
would also establish close international