The Birmingham age-herald., 1914-05-11

and the Nassau bank are considering con- solidation or the merging by the larger bank of the smaller one. Should this be accomplished, it will furnish an impor- tant chapter in the history of modern banking developments>in New York.
 For many years the Irving National bank carried on a small, but comfortable and safe, business some distance from the financial district. It was a favorite bank for commission merchants who dealt in wool. Boston capital some years ago
 was anxious to secure control of this in stitution and offered as much as $150 g share. The price asked was $156 and on account of this difference of $6 the con- templated bargain fell through.
 A little later, one of the large packing interests in the west was commonly un- derstood to have secured control of this institution. The ownership, however, was subsequently, parted with. Two or three years ago. the Irving National absorbed another bank, and in doing that greatly increased it's resources and influence. It carried $4.O0O.O0O of capital and surplus of 8. 5O0, 900, and it's deposit line reached as high as s47,0O0.000. round numbers. Sta tistics of this kind numbered the Irving among the larger banks of New York. Now negotiations are understood to be under way whereby this institution will secure the Nassau bank. If 1t should and the Nassau goes out of existence, then there will pass into tradition the story of small bank wisely conducted along conservative lines, never associated with so-called high finances, content to do a safe and reasonably profitable commercial business. It carries deposits now of about $12,000 .000 Twenty years ago that would have been esteemed heavy deposit line, for but two or three banks in New York had in the early nineties deposits in ex- cess of $12.O00000. So rapid and great has been the advance that . deposit line of Sl2.00O,OoO Is regarded as . comparatively small figure for national bank. But if the Nassau and the Irving are brought to- Eether and the consolidated institution carries full line of deposits as they are today in each bank, then 1t will have deposit line of approximately $60, ,O00,00O.
 There are some bankers who wonder whether, ultimately, this consolidated in- sutution will not be absorbed by one of the larger banks of New York If that should prove to be the case. this larger bank through consolidation. would carry a deposit line of about QdO. 000.00O.
 It's resources and it's deposits would therefore, be surpassed by no more than three or four other banks in New York. It may be aif surnise based in part upon the understanding that the Hanover Na- tional bank some years ago was ready to take over another bank which h4u led to the suspicion that the management of the Hanover may contemplate an increaae in the resources. deposits and influence of this institution through the purchase of some other national bank of New York. There maybe no Justification for the sur mise, but. on the other hand. there will be no astonishment should the announce ment come to be made by and by that the Hanover may take over another na- tionai bank.
 What is of interest to the country at large in these plans 10 the demonstration that the tendency is now very strong in the large financial centers toward decreas- ing the number of small banks by taking over their resources and their deposits 90 that thereby a number of large institu- tions can be established. Unquestionably behind this tendency is the conviction that the time is not distant when the banks in the great financial centers will be called uron to assist in some important commos- cial undertakinGe.