New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-01-14
Few Other Banks Decide as
to Entering the New
Federal Scheme.
GEORGE F. BAKER
LEAVES THE CHASE.
John J. Mitchell, of Chicago, in
His Place-Arthur Iselin on
Chemicals Board.

submit the question at all Only vote
of the directors is required to comply with
the regulations Of the Reserve Board or
ganizatlon committee. but as part OF the
capital supplied by the stockholders -
10 be applied to the federal reserve bank
II was considered that shareholders should
have the right to vote on the question.
The First National Bank announced its
intention OF applying for membership In
the new system. and stockholders OF the
Chase National acted favoraby upon the
previous recommendation OF the directors
10 Join. Similar action was taken by the
Citizens Central National Bank, the Bat
terry Park National. the National Nassau,
the Irving National. the Market. and Full
ton National. the Fifth Avenue Bank and
the Seaboard National. With the list be-
! fore published in The Tribune the number
/ OF Now York banks that have signihed
their intention Of Joining the new system
either by vote Of the stockholders and d.
rectors or by the directors only totals now
seventeen.
This total besides those mentioned. in
/ ciudes the American Exchange National,
/ the Bronx National, the Hanover Ma
| tional. the National Bank OF Commerce.
the National City Bank OF Brooklyn. the
| Gotham National. the National Park and
the Hartman National.
| The banks that will also submit the
question to stockholders at special meet
ings are the Sherman National, January
u; the Second National, January 90: the
! Chatham and PheniX, January I6: the
Germania Bank, January 49, the Irving
National February IS; the New York
County National, February 10, and the
| Union Exchange National January 20.
The Bank OF Europe while not a ma
tonal institution, held it's annual meet
ing yesterday and voted that it would not
enter the Federal Reserve system as per-
mitted by the new law.
There was also unusual interest dis
! played yesterday I'm the changes in the
dlrectorates OF the various banks, because
OF the movement OF banking interests 70
withdraw from various boards on account
OF the administrations attitude toward
| interlocking directorates.
The MOST significant change was the
resignation of George f. Baker from the
board Of the Chase National Bank and the
election of John J. Mitchell. president of
the Illinois Trust and Savings Bank, OF
Chicago. to succeed him. 1t was believed
that this was Mr.. Bakers first step tow.
ard carrying out the determination ex-
pressed by him last week 20 retire from
several directorates ''as soon as they'll
let me-" IL was understood that Mr..
Bakers action in respect 10 the Chase
bank implies no change in the stock con-
troll. Neither will IT affect the close rela-
tons that have long existed between the
First National Bank and the Chase Ma
tcnal, for Francis i. Hine president OF
the former institution, and George II.
Baker, jr., vice-pres. dent. remain on the
Chase board. Mr.. Baker. sr., will I'M
doubtedly remain as chairman Of the
First National.
| The personnel of the directorate Of the
First National Bank was changed by the
resignation of Mr.. Mitchell and the cleo
ton OF Theodore y. Vail, president Of the
American Telephone and Telegraph Com
pany, as his successor. TO succeed Henry
p. Dawson. OF j. p. Morgan & Co, on the
board OF the Chemical National Bank. Ar
thur Iselin. OF the Grygoods firm OF Will
lam Iselin & Co.. was elected. Mr.. Davl-
son announced his retirement from this
bank in the wholesale designations OF the
Morgan firm on the fret business day OF
the new year Other changes that took
place Yesterday at the annual stockhold-
ers' meetings OF New York banks follow:
Hanover National Bank-John j. Riker.
of j. l.. & II. l.. Riker Inc, added 10 the
board.
Sherman National Bank-Henry b.
Quinby and Max Radt elected to take tho
places OF Clinton II. Crane. resigned. and
Dwight \. Jones. deceased.
Liberty National Bank-George b. Case.
OF White & Case. resigned; no successor
elected.
Union Exchange National Bank-George
Il. Connley and Otto II. Dryfoos elected
to succeed f. f. Vogel and 7. Wiengart.
Security Bank OF New York-Thomas
Carter and Louis V. Ennis elected 10 sue
coed r. r. Spencer and Moreau Delano.
Citizens Central National Bank-Gar-
rard Comfy a vice-president, was added
TO the board.
Twenty third Ward Bank-William F. A.
| Kurz, Oln J. Stevens and Bradley Il.
| Eaton elected TO succeed John NJ. Haf-
fen. George E. Edwards and George NJ.
| Mackellar.
National Nassau Bank-Newton d. All
ing and Marshall Stern elected directors
New York County National Bank-Or-
mend G.. Smith added to the board.
| international Bank-Wilham Barclay
Parsons added TO the board.
Garfield National Bank-Frederlck l.
Tleitman and Albrecht r. Pagenstecher'
jr., added 20 the board.
New York Produce Exchange Bank
Adopho II. Fischer and Ambrose u
Todd. elected TO ill vacancies.
German Exchange Bank-C. q. Amend
elected in place OF Robert +. Amend de-
ceased. and Louis Haupt added 10 board.
Merchants Exchange National Bank
w. II. Griffith, elected 10 succeed T. l..
Woodruff, deceased.
Bank OF the Metropolis Samuel Sloan,
elected 10 fill a vacancy
Columbia Bank-Samuel +. Jacobs, l..
Ellsworth Ford and Walter H. Griffith,
elected 10 succeed Henry Morgenthau and
NJ NJ. Valentine. resigned. and Charles
Reed. deceased: 10 hold meeting January
IA to act on Federal Reserve act.
Public Bank-Edward s Rothschiid,
elected president. and Alfred Rossin,
elected director in place OF Mr.. Anderson.
resigned. and Mr. Rothschild added TO the
hna I'D