The sun., 1918-12-03
BANK EXPANSION
TO AID U. S. TRADE
National City Will Open New
Branches i'm South Amer
lea and Europe.
WILL EMPLOY SOLDIERS
Homecoming Clerks Thought
Especially Fit for Great
Banking Plan.

Frank A. Vanderlin, president of the,
National City Bank, announced yester-
day q programme Of world wide branch
bank extension that rivals. II IL does not
exceed, any similar steD In the banking
history of the country. He announcedthe
actual opening of three additional bank
ing houses in South America and said
that his institution is preparing to open
branches at an early date in Belgium.
Switzerland, Holland and Spain. Tho
situation in Denmark. Norway and
Sweden is being studied.
every experiment We have made in
banking in South America" he said.
has been a success and has justified
itself from a cold business point OF
view. Our bank in Buenos Aires is the
sixth largest in the city and now has
deposits of sS3e0O.000 The time has
row come to increase Americas bank
ing In foreign countries on a large scale
and to extend 1t to the limit OF our re-
sources"
Mr. Vanderlip was asked how it was
possible to man such n rapid extension
in foreign banking. He replied THE
military service of our country will pro-
vide the men and we have already com
menced negotiations with men who have
served In France or on the seas. Both
the army and navy will provide men
who have developed wonderfully under
the spur of military and naval necessity.
What better type of men could a banker
seek? They have acquired discipline,
sense Of responsibility, a renewed IN
itiative, an extended culture. and
breadth in point of view that could not
otherwise have been expected"
The announcement made yesterday in
dicates the National City Banks conf
dence in postwar business and OPP
timism regarding the outcome of the re-
adjustments nations are now going
through. 1t takes the lead in extend
ing Americas banking power to other
countries. II Ia step, according to
conservative opinion, in the direction of
making America world banking power
and of extending our foreign trade in
larger fashion than would he possible
without the backing of American banks
in foreign countries.
Regarding the branches actually
opened in South America, Mr. Wander
lip said:
1.-TWO OF these are TO he opened at
once in Argentina. One will be at Ro-
sario. the imu0rtant city OF Argentina
situated on the River Parana north of
Buenos Aires and second in Importance
TO Buenos Aires as a port of the coun-
try. Rasar+o is an important and live
centre of distribution of merchandise.
Its exports in 1918 (the latest normal
year OF commerce) aggregated nearly
500. 900. 900. compared with nearly Sl7O.-
100000 exported through Buenos Aires.
Rosario exports heavily of Argentine
grain shipping 2,3ls,951 tons of wheat,
corn, linseed ard oats in 1913, as COM
pared with 2,S3s,433 for Buenos Aires.
II imported about $4,000. 900 worth of
general mercha 11ise in 1919, compared
with somethin., over 100000, 900 that
came in through Buenos Aires.
Thes other Argentine backing house
will be technically a sub-branch OF the
Buenos Ayres branch. but will he com
pleteiy equipped for fun banking ser
vice. 1t il located in the Once section
OF the city OF Buenos Ayres. This is the
heavy wholesale merchandising and
inanufa curing section of the city, which
has 100000 in habtants, as distin-
guished from the financial district. where
the head banking house for Buenos
Ayres (tEe pioneer OF foreign branches
of national banks OF the United StateS)
Is situated. For many months il has
been felt that II banking mouse in the
Once section OF the metropolis of the
Southern Hemisphere would be a means
of additional service to the business in
terests of the city and means of ham
ding the transactions involved In the
heavier movement of commodities with
better results.
THE third banking house to be opened
at once will be at Santiago, Chile, where
there has becl an office for several
months through which business was done
by the Valparaiso banking house. A
complete bank has been found necessary
because Of the growth Of the business.
in regard to the BuenoS Ayres
branch II may be of interest to state
that after its establishment in Novem-
Der. 1914, in the bolsa (Bourse) Building
II was compelled to seek larger quarters
In 1916 at 81 san Martin. where its pres
ent banking house is. The deposits OF
this banking house as recently cabled
were equivalent to $4,000, 900"