New-York tribune., 1918-08-09
Bankers Organize
For Business in
China and Orient
Many Leading American
Financiers Are Directors
Of Asia Corporation

Announcement was made yesterday
that the preliminary organization of
the Asia Banking Corporation, which
will be the medium Of Americas en-
trance into the Far East as a banker,
has been completed. central branch
will soon be established in Shanghai,
and a nome Office will be opened pres
emily at &c Liberty Street IN this city.
Charles H. Sabin, president of the
Guaranty Trust Company and an in
corporator of the new organization, has
been chosen president of the Asia cor
poration, which purposes to engage in
international and foreign banking in
China, in the American dependencies
and insular possessions, and, as condl-
tions become more stable, in Siberia
and possibly Russia. Robart A. Shaw
of the Overseas Division Of the For
cign Department of the Guaranty
Trust Company, is to be treasurer.
Many Bankers on Board
The directors are Mr.. Sabin, Seward
Prosser, president of the Bankers Trust
Company; Thatcher M. Brown, of
Brown Brothers E. Co., who will repre-
sent the interests of the Bank of Amer
icas; Eugene w. Stetson and Albert
Breton, vice presidents of the Guaran-
ty Trust Company; F. l. Kent, vice
president of the Bankers Trust Com
pary; Ralph Dawson, Herbert Fleish-
hacker, president of the Anglo and
London Paris National Bank, San
Francisco; NJ. F. Backus, president Of
the National Bank of Commerce, Sc.
attle; c. +. Adams, vice-president Of
the First National Bank, Portland,
Ore, and George f. Smith, president
of the Royal Typewriter Company and
of the American Manufacturers Ex-
port Association.
In order to open the branches in
China under the most favorable aus
plces a commission of bankers led by
! William c. Lane. vice president of the
Guaranty Trust Company, will Journey
, to the Far East early next month.
Mr.. Dawson and Crawford NJ. Bishop,
former director Of the Far Eastern Di-
vision of the Bureau of Foreign and
Domestic Commerce of the United
States Department of Commerce, and
other representatives of the company
who are to be stationed permanently
in China will accompany Mr.. Lane.
The commission will also visit Japan,
and will make an intensive survey into
The commission will also visit Japan
Bankers associated in tho new enter
prise said the primary purpose was
to foster foreign trade and added that
the increase and the future increases
of American commerce in the Far East
made the establishment Of American
banking facilities advisable. Hereto
fore Great Britain and the continental
nations Of Europe principally have
financed the transactions between the
United States and the Far East.
Building for the Future
1t was explained that the Asia Bank
ing Corporation will accept deposits
only in foreign countries, and that in
general, its functionng will resemble
that of the Mercantile Bank of Amer
icas in this hemisphere. Tie launch
ing of the new corporation was char
acterzed as the most ambitious un-
dertaking of its nature since the estab-
lishment many years ago cf the For
eign Banking Corporation. The bank
expect to go slowly at first, they said
and to lay solid foundation that will
! show lasting results in the future.
The Asia Banking Corporation was
incorporated in New York State last
month, with capital of S2,0O0,0OO and
a surplus Of S500000, all of which has
been paid in. Among the sharehold-
ers are the Guaranty Trust Company
the Bankers Trust Company, the Mcr-
camille Bank Of the Americas, the
Anglo and London Paris National Bank
Of San Francisco, and the First Ma
tlonal Bank cf Commerce Of Seattle
Present plans look forward to the
establishment of branches IN Manchow
Peking, Tientsin, Harbin and Vladi
vostok, and, according to a statement
issued by the new corporation, "whcr
the Russian situation clears, the new
bank will be ready to establish itself
itself with old or new Russian banks.
1t was announced also that the corpo
ration is prepared to increase it's cap.
ital according to requirements.