The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-08-09
NEW FOREIGN TRADR
BANK Is ORGANIZED
Will Stimulate Commerce in
Far East and American
Dependencies.
CHAS. H. SABIN PRESIDENT
Asia Corporation to Accept No
Deposits in United States
Capital S2,OOO,OOO.
CHAs. H. SABIN president

One of the most important Annette,
plans for banking in the Far Last toot
definite form yesterday when the an.
nouncement was made that the organ.
zation OF the Asia Banking Corporate,
had been completed by the election n,
officers. A head office will be Opened
soon at sc Liberty street. The company
Is to engage In international and for.
eign banking in China, in the depen.
denotes and insular possessions Of the
United States, and ultimately in s..
IBERIA. A director OF the new company
said yesterday:
This is the most ambitious foreign
banking project since the formation
many years ago of the international
Banking Corporation. That appeared to
have been an i'll conceived and poorly
managed organization at the start with
no plans for stimulating foreign trade
and commerce. 1t attempted to do TO,
much in its infancy This concern star,
in a modest way and will go slow al
first. 1t will accept no deposits in any
country except to promote trade ami
will accept no deposits at any time IA
the United States. Its scope and or.
ganzation will be along the lines of tina
Mercantile Bank of the Americas"
Charles II. Sabin. president Of tho
Guaranty Trust Company OF New York,
is president of the new company Tho
vice-presidents are Albert Breton, vice.
president Guaranty Trust Company,
and Ralph Dawson. assistant secretary
Guaranty Trust Company Rober, A.
Shaw of the overseas division of the for.
eign department Of the Guaranty j,
treasurer. The directors are Charles II,
Sabin. Seward Prosser. president Bank.
ers Trust Company; Thatcher NJ, Brown
of Brown Bros. & Co. who will repre-
sent the interests OF the Mercantile
Bank of the Americas Eugene W. S;e,-
son, vice-president Guaranty Trus.
Company of New York; Albert Breton.
F. l. Kent. vice-president Bankers Trust
Company Ralph Dawson, lierber.
F'leishbacker. president Anglo and Ion.
don. Paris National Bank. San Frans.
cisco: NJ. +. Backus. president National
Bank of Commerce. Seattle; e. f.
Adams, vice-president First National
Bank. Portland, Ore. and George L.
Smith. president Royal Typewriter Cone
pany and Of the American ManufaCtur.
ers Export Association. New York
Preparations are being made To open
branches in China. and as a preliminary
step central branch will be established
at Shanghai. With that object IN view
special commission will he sent Int,
the Far East by the Asia Banking Cor.
poraton. This commission will hs
headed by William c. Lane. vce-HreS-
dent Guaranty Trust Company Of New
York Mr.. Dawson. Crawford ". Bishop,
former director Of far eastern division
of Bureau of Foreign and Domestic
Commerce Of United States Department
of Commerce. and other Representatives
| Of the company, who are to be stationed
permanently in China. The comns-
zion will visit japan and make 4 survey
| OF local conditions in that country -
we'll as in China. The commission eX-
poets to leave this country early IN Sep
| TENDER.
The Asia Banking Corporation vas
formed under the laws Of Now YORK
/ State, with a capital Of s2.o00,ooo and
a surplus of 100000. all Of which ha'
been paid in. Among the stockho!der'
are the Guaranty Trust Company ~
| New York. Bankers Trust CompanN
| Mercantile Bank of the Americas. An-io
and London, Paris National Bank n
San Francisco, First National Bank o.
| Portland, Ore, and National Bank -
| Commerce of Seattle Present par.
contemplate the establishment a
branches in Hankow. Pekin, Ticn-TS.n'
| Hardin and Vladivostok When the
| Russian situation clears the new hanN
will be ready to establish itself IN Rn.'
sia and Siberia or to affiliate i''o!' with
old or new Russian banks. I'll" company
/ is prepared to increase its Cait'aI a'-
cording to requirements.