The sun. [volume] (New York [N.Y.]) 1916-1920, 1917-03-29
BANKERS AND ASTOR
TRUST COS. MERGE
Consolidated Concern Will
Have Capital. Surplus and
Profits Of Ss7,83t.O84.

Following meetings OF the boards OF
directors Of the Bankers Trust Company
and the Astor Trust Company II was Of
hciaiiy announced yesterday that the
boards had approved the recommenda-
tions ot the respective executive commit
tees that, both companies consolidate un-
der the name Of the Bankers Trust Com
psny. The plan practically has been
approved by the State Banking Depart
ment and all that remains to make the
merger an accomplished fact is formal
approval by the stockholders.
The plan Of consolidation will not pro-
vide for any immediate increase of the
combined capital Of the two trust COM
panies. Rankers Trust Company stock
to the amount OF sl.a5e, 900 will be is
sued in exchange for the sI,250. 600 stock
OF the Astor Trust Company al,er a
specia. dividend has been paid by the
former concern to its stockholders to
eauaiira the hook values OF the stocks OF
the two concerns.
Disbursement - $4,000, 600.
A committee has been appointed TO APP
praise the assets OF the two companies
and TO determine exactly what the dif-
ference u between the hook value OF the
two stocks 1t Is officially estimated tha;
the difference will be about $40 a share
in favor OF the Bankers Trus. Company
stockholders, making a total dsburse-
Inent TO stockholders OF about s., ,000. 600
On February IS the capital of the
Bankers Trust Company was $4,000.
600. its surplus so, ,00o 900, and It's un.
divided profits were ss..3l,sl3. On tn.
same date the AstoT Trust Company hat
a capital OF $3.50 600. surplus OF 81 :.
ss0.ooo and undivided profie of $so2,.
All. After the special dividend the cap
ital OF the consolidated concerns will b,
SIl,a5o.000. surplus 1880. 900 and un
divided profits s5,s34,ost. The deposit.
Of the combined institutions will be IL
excess OF $500, ,beo,e ,eoo.
An Influential Directorate.
The consolidated board of director,
! of the two institutions will include:
! Stephen Baker. president Bank O
! the Manhattan Company L. C Con
Verse. president Astor Trust Company
| Edgar l. Mars ION. Blair 4 Co, bankers
| II. +. Pomeroy, vice-president Banker.
| Trust Company Seward Prosser. presi
| dent Bankers Trust Company Daniel q
Held. vice-president Liberty Nationa
Rank Herbert h. Twitchell. vice presi
dent Chemical National Rank; Samue
! q. Bayne, president Seaboard Nationa
! Bank; Edward NJ lsulkley, Spencer
! Trask 4 Co. bankers: F. n. II. Close
vice-president Bankers Trust Company
| T. Dewitt Cuyler, president Commercial
| Trust Company, Philadelphia: II. 7
Dawson. J. =. Morgan 4 Co. william
| North Duane, v.ce-rresldent Banker
Trust Company Frederick T Haskell
| vicc-presidcnt Illinois Trust and Saving
Bank. Chicago Fred l. Kent. vice presi
dent BAnkers Trust Company: Herber
| T.. Pratt, vice-president Standard O
Company. New York Edward Towns
end, chairman OF the board, Importer
and Traders National Bank Thoma
Cochran. J. p. Morgan 4 Co: Corneliu
Rliss, Jr. Bliss. Fabyan & Co. II.
McEldowney president Union Trus
J. p. Morgan a Co: John I. Downe,
building construction: Nicholas Biddi
Astor estate: Douglas Robinson. res
estate: Charles L. Tiffany. vice-pres
dent Tiffany & Co.. NJ. Friedsan,. pres
dent B. Altman & Co. Robert
Goelet. Archibald n. Russell. Ranaid +
Macdonald. vice-president Astor Tru,
Company, and Walter +. Frew, pres
dent Corn Exchange Bank.
Through the merger the Banker
Trust Company will obtain an uptow
branch in one OF the most importai
business sections of the city. The Astt
Trust Company is now located at 81
Fifth avenue. but will soon move to /
new home At Fifth avenue and Fort,
!. second street That branch will
known as the Astor Trust branch Of Il
Bankers Trust Company.