The Washington herald., 1918-02-22
UNITY SPIRIT
PERVADESLAND
Holland Features Washing
ton S Birthday with Some
Timely Suggestions.


ton Bank. one of the Oldest in New
York. had passed in the possession
of the Irving Trust Company,
thereby creating another strong
banking institution. 1t was also re-
ported that Alexander Gilbert, for
many years the executive head Of
the Market and Fulton would re-
tain chief executive position In the
consolidated institution. or at least
in that part of the consolidation
which Is represented by the Market
and Fulton Bank.
There is probably no banker of
the older generation in the United
states who Is not familiar with the
name of Mr.. Gilbert, and many have
come into close and always delight
full personal association with him.
He Is today the Oldest bank execu-
tive in New York. certainly in
executive service, and probably in
years.
Nevertheless he carries himself
as though he were Of the younger
generation, having mastered the art
OF remaining young in mind. In In
terest, in all that appertains to
modern life. so that while he is In
his 7Tth year he appears to those
who have conversation with him to
> be properly associated with the
younger generation.
Moreover Mr.. Gilbert early gained
and has always maintained a repu-
tation which belongs to a banker
whose transactions can be subject
ed to the closest scrutiny. He 10
often referred to as a model for
the bankers of the younger genera
tion. He possesses a gift for bank
ing which is inborn and not easily
acquired and that Is the capacity
of making and maintaining friends.
He knows how to say no and how
so to do it that the man to whom
this answer is given feels almost
as though 1t were q compliment
A chairman of the Clearing
House Association of New York, Mr..
Gilbert has given valuable service
and his advice has always been
sought especially in times Of crisis
Dr. when some bank was in trouble.
William A. Nash, who built up the
Corn Exchange Bank so that II mas
become one of the greatest Of Amer1-
can banks, stands second to Mr.. Gil
bert in length Of years and con-
tinuous service as q banker. He too,
ike Mr.. Gilbert, Is now chairman OF
The board of directors Of the bank
George +. Baker. chairman OF the
board of the First National, has been
'or fifty years in service as banker
having been. associated with the First
National Bank ever since its organiza-
lion and having gained prominence
throughout the country as president
II the bank when the government at
Washington made the institution Its
iscal agent
IL was through this bank that the
Treasury Department purchased the
Exchange which was sent to London
o pay interest upon government OBJ
izations that were held by citizens OF
Dther countries than ours These pur-
.hases, in the aggregate amounted TO
many millions Of dollars.
When the Clearing House Associa-
ion was organized, and especially
dter Moses Taylor, who was the real
.reator of the City Bank of New York
;ook influential part in that organiza-
ion. the number OF banks in New
FORK CITY was much larger than the
clearing house list of today shows.
Many banks were organized between
S47 and 1855.
However. since the enactment of the
Sherman Law, the tendency has been
he other way. It may not be due to
he prohibitions which are contained
the Sherman law, and yet It is a
ather interesting coincidence that
Utter this law was put upon the
.tatute book there began the tendency
lfterwards highly developed. towards
he consolidation Of banks, sometimes
wo, sometimes three or more, so
hat a single strong institution was
hereby created
This is true not only of New
,ork, but OF Boston. Chicago and
,ther financial centers. 1t is re-
rorted from Boston that a few
ears ago the number of banks that
sere members of the Clearing
Iouse ssociation OF that city was
bout fifty, whereas today by rea-
on Of consolidation and liquidation
he number is not in excess of
wenty.
These consultations were newt
BILE after the organization Of the
.reat corporations. One large in
titution was of greater benefit
han three or four small ones.
herein is contained the true prin-
iple of coordination as well as
he mobilizing of resources so that
hey can be made all the more ef-
ective.
Presumably this tendency viii
ontinue, for the extraordinary
onditions created by our stupen-
Gus national financing and the in
ustrial conditions which should be
stablished after the war is end
q. will serve greatly to increase
he number of bank consultations
o that there may be a single strong
1stitution instead of two or three
limited resources and narrow
apacity for serving customers.
1t is not the reasons that have
ID to bank consultations, but
artly for geographic and partly
or economic reasons that consoli-
alton of churches in New York
ity and the marketing of the real
state of the consolidated churches
as been one of the conspicuous
eatures of church life of New
ork City.
The latest is the substantially
ompleted consolidation of three
resbyterian churches. each of
,hich is known by name to Pres
yterians all over the United States
nd at least one of which has gain
d notoriety through the PERSONAL
" and force OF the pastor, the
.ev. DR.. Parkhurst.
One of these Presbyterian Churches,
lie First, was years ago situated
Wall Street, two minutes walk
ON Trinity Church, and 1t has be-
1me traditional by reason of the
lct that Jonathan Edwards was at
Te time its pastor.
when New York City grew and
III kaSr4 I'll