New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-11-24
fHE NATIONAL wLBKLT

of any further distribution OF surplus
during that year, and the common four
fifths.
This provision relative to managers
shares va. incorporated in the charter
OF the American international Corpora
tor" explained Mr. Vsnderlip. ito at
tract men of grea, ability in the man
agemen. 70 whom the inducement Of
high salary is not the only incentive.
This custom has been p-dctised for
years in England and Germany, and so
for as | know is the first time II has
even been attempted in American cor
rorGtion affairs. This system differs
from the so-csled profit sharing plans
like that of the United States Steel
Corporation in that it applies only to
those who are employed n an execu-
tive capacity" The managers shares
are TO be paid for at par.
Steel Control in National City.
OF the common stock 100000 900 will
be offered TO shareholders OF the Ma
tional City Bank at par in proportion
10 their holdings. The rest OF the
stock will be subscribed for by the IN
tcrests that have become identified with
the organization and their associates.
Il is proposed that the common stock
shall be listed eventually on the Stock
Exchange.
By another provision Of the charter
the company will not be able to con
duct a banking business in the strict
sense OF the word The company. 9TH
erwise. is unlimited practically in the
scope Of its operations. By being able
to deal extensively in the securities o.
foreign corporations, bankers pointed
out yesterday. that when the inevitable
day arrives when much OF the gold re
ceived here during the past year ha;
10 be- shipped out again the possession
of foreign securities will do much y
lessen the shipments through their
sale, thus creating exchange 70 pay
for goods.
J. r. Morgan & Co. Interested.
While J. P. Morgan & Co. are not
represented directly on the board or
the new company. il will be heavily in
terested through the ownership OF
large block of National City Bank
stock. Shares Of the corporation wer.
quoted unofficially yesterday, when ana
as if issued at premium OF $50 a
share.
In statement outlining the proposed
activities of the company Presiden.
Stone said:
"The American international Cor
poration is organized for the purpose
Of doing an international business and
establishing trade relations with diff
ferent countries which will help make
a worldwide market for our products;
for financing and promoting the devel-
opment in foreign countries by Amer
lean engineers and manufacturers OF
great public and private undertakings;
for assisting in financing the rehabilI-
tatior OF industries in foreign coun-
tries. and for the purpose OF undertak-
ing such domestic business as seems
advantageous in connection herewith.
Foreign Financing Plans.
In ,upplementing Mr.. Stones state
ment Mr.. Vanderlip explained that the
company. when financing undertakings
in foreign countries. would either orer
the foreign securities direct 20 the
American investor or offer them lndi-
rectlv hy the sale Of debentures with
the foreign securities as collateral. :.
Mr.. Vanderlip declared that condi-
lions in Europe made an undertaking
Of the character of the American In
ternational Corporation logical at this
time. "The situation demanded some
thing Of this sort" he added, AND Tor
that reason | have been able TO get 10
gether this remarkable board OF d.
rectors. This is one o. the most I'M
portant undertakings that nave oeeh
4 initiated in the effort 10 estapHsh lhe
United States in world finance. IL mas
| been created at time "heh' pecaus,
Of the great conflict IN Europe, thc
usual banking and trade iacllities nave
A eric
stem into the breach with her unlim-
ited resources for the benefit Of the
worlds CONNIE rcial expansion.
Washington officials Approve.
Mr.. Vanderlip asserted that he had
explained the plans Of the company az
con siderable length TO Secretary OF
Commerce Redheld and Controller OF
the Currency Williams, and they were
apparently we'll pleased with the un-
The companv's charter outlines in
detail its purposes as follows;
To y,rchs.e scqu!rr hold. sell. eTchsnse. pledse
,vnCt,'~rar or Otherwise dispose oi Or deal n ~
\, iutrtfedncss and Ohlisaiion' ~ an sI''s.t'
public or municipal coIp'IsuSy ,..,yS s,.,s .oye-a
rncut or governmental authority OF o ~! 49, 49,
or administrative sub-di sisGn % 49,.
81 =, az ,,ac;ns e,,tc5cns intsres, IN such g
curifss and while the oSner. ~ any s1cn 49,.
houds other evidences o' lhde.,GS ,o',ers nd
pririleses Of ownership includihs me hs' " '''
b.rcol for any and al purposes 49,. 49,
,srsemenis with say domssuf or to,etL -
r,n,si or rarnicipa authority lg nc .s..tn' ~ ~
,arnS,.ti,1. 10 o5isln % purchase. lssse OF az
ose, ,,suelis.s and concessions shich the coz
rrrsfTI msy desire 90 c1e7rise ana To uNe''1Ne
A., business dependent tisnon. -.,..,, o..
,hs,,s. ,ro,llr, % dspose = Agricultural. grazing
firnbef o, other lands nhntf.' aep,sse' IVA =,
fnirs properties coliesies s.d q-'..Iss, "
t.o 10 cultivate. cut. mine. CRUSH sIe-... -,
n,rs ,or rsr.ef. buy. >si, c2'hshte,, 49, W,
ror, trade ard d.s n .n' , 9nf 81. peS
isur- -o.i iron metals phosphaies nilrStes. miI.
.,.is p-srlous stone, ani materials. produces ana
b. product ~ all hn1~ .t ...
,.nss. Iii .ni deal IN so'is a7i nlercf a. iise
~ yer, chararir-. and 20 earry on sen,I ~
r,,,iie All Commercial! business IN Any psr' OF 'hs
H., n lnsnr. aud build and op>rai' ho.el''
Z sns-ff1ent la,ises boarding AM IoNsh. ,'ese,'
4 ,ssfa,,rar's sn-ss shops garA, an! places % PND-
90 - sron.s. mi build teisp,on. .nd ts.'
rrsnl ry.cins % any per o. ihe wofl oI.s'''s -
S.,s ycrh hSssiss. 20 hu'd 80 IIonno,r -
elr 'ri- tight and poeer worhs.. AIS 40 n senIs
y.,cr powers. dams. fuIacs, watsf eouIs.s ass
ducts sc~sss. drainage .id sr,i.ag go 49,,
n,'tor.s hs.in. tuss vGrehouTes oil tanks snd
other 'rrminsl facilities, etc ana nhsN 10 us
s,yrsrar,s and csrry on all ainds "i Ielhis' ha.
fasrrins iuigatinE. asnculilr,l. sto.s risnA'
rinccrins AMI de'elopnrr, en'e'pT''e'
KAISER'S NEPHEW VERY I'LL