The Birmingham age-herald., 1917-11-16
EUGENCE V. THAYER
 AS GREAT BANKER
Rx HOLLAND

New York, November 15.-(Special) Sometime in the summer or early fall it was taken for granted that speedy con solidation of the Merchants National bank of Boston, with one of the larger banks of that city, was about to be made. The announcement was one of the topics in banking circles not only in Boston. but in New York, and other large finan- cial centers The contemplated consolda- tion might have made the unified institu- ton the largest of New England banks.
 Some weeks later publication was made of the fact that the purposed con solidation had been, at least temporarily, postponed. Many thought that had the word permanently been substituted for the word temporarily there might have been better statement of the abandon ment of the plan.
 Shortly after this announcement was made the president of the Merchants national bank at Boston, Eugene ". Thayer, was elected president of the Chase National bank of New York and accepted the offer of the directors of this bank It was inevitable that a surmse should have been raised to the effect that had the two Boston banks been con- solidated MT Thayer could not have been tempted to leave Boston even though of fered the presidency of one of the largest of American National banks the Chase National.
 Mir. Thayer comes to New York at a time when intense interest in the per- sonality and ability of the leaders of our hay fa ic tSnl nnlE hV stockholders and men of finance, but also by the public He built up the Merchants Nationai bank of Boston from condi- tion something like dry rot to one which was regarded in Boston as being one of the great successes of modern banking life of that city. He will have no oppor- tunity of that kind a S president of the Chase National. That institution has already been built up, chiefly through the brilliant work of A. Barton Hepburn. Mr. Thayer's responsibility undoubtedly will be that of maintaining the prestige now gained by the Chase National and of gradually increasing it's influence ana strength.
 INHERITOR OF FINE TRADITION
 Mir Thayer is a graduate of Harvard university and in his career with the Merchants National bank he demon strated the truth that is in a statement  ucated man frequently makes greater banker than the one who began at the bottom and worked his way up to the top. For the banker who attains to the presidency after beginning as office or messenger boy is likely to be governed by precedents and his action or judgment is usually limited by technical rules. He may become a master of the technique of banking, but very likely not a very great banker.
 When MT. Thayer, still young Gan. not long out of Harvard was elected president of the Merchants National bank of Boston, he found himself con fronted with the necessity of quckening one of the oldest of the Boston banks, but one which had permitted the modern procession to pass by He adopted mod ern methods, always carrying into his banking life the fine traditions inherited from his grandfather.
 For the house of John E. Thayer & Brothers was for many years regarded as the leading private banking house of Boston. One of the brothers was the grandfather of the newly elected presi- dent of the Chase National bank. The name of John E. Thayer & Brothers was a synonym not only for energy and scrupulous attention to business, but also for integrity and for the demon stration that it is possible to conduct a banking house successfully, while at the same time observing the dictates of con- science and the rules of business integ- rty. This, house afterward became the great banking house of Kidder- Peabody & Co.,, now esteemed among the foremost of the international banking houses Of the United States. Both MT. Kidder and Mr Peabody were junior partners in the house of John F. Thayer .& Brothers
 The grandfather of Eugene V. Thayer at his death left so large an estate, much of it represented by railroad se- curities, that it devolved upon his two sons to occupy themselves exclusively with the management of this estate. h. doing this they maintained the reputa- ton for integrity and honorable con duct which the house of John F. Thayer & Brothers had secured. One of those who managed the new head of the Chase National bank inherited from his father and his grandfather that fine sense Of