Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-04-30

can banks represents, we believe, AMI
efficient instrumentality TO facilitated
and foster the trade relations be-
tween the United States and France
which the new era demands. We con-
slider it a most practical way to.realize
the necessary cooperation between
French and American banking and
to give Americas business men the
benefit of the experience and connec-
lions of native French bankers that
could be given TO them in no other
way.
''The French American Bankingl
corporation is an organization which
has behind it the goodwill of the
three great, established Institutions
which hold its stock Ii is primarily al
commercial bank, as are all the insti-
buttons which compose it. 1t is eX-
pected that it will engage in the ac-l
ceptance business. and in general as
sist in financing trade between theI
United States and France, including
the French colonies in all parts of the
world"
President Daniel c. Wing, of the
First National Bank of Boston, said:
1.-THE French American Banking
Corporation will foster the develop
ment of French and American trade
in a broader and bigger way than has
ever been possible before. The three
banks uniting in this enterprise have
the same general policy and are strict
ly commercial institutions. The new
corporation will be operated along the
same lines, and its management Will
devote all its energies to the develop
ment of commercial relations, partic-
ularlv between America and France.
naf1 ND
tions of the National Bank of Com
merce in New York and The First Ma
tional Bank of Boston will be placed
at the disE osal of the French Amer
lean Banking Corporation, which will
enable the Compton National d'Es-
compile de i'aris to extend the best of
terms and services to the French inn
porters ard exporters who are inter-
eHted in eveloping or extending their
trade with America. Facilities of the
Buenos Aires branch of The First Ma
tional Bank of Boston will similarly
be placed at the disposal of the Comp
toir and the French American Bank
ing Corporation. In like manner
the National Bank of Commerce in
New York and The First National
Bank of Boston, through the French
/ American Banking Corporation, will
7
| the American merchant who is inter
ested in foreign trade
in addition to the two hundred
| odd branches of the Compton Ma
| tional d Escompte de Paris located
| throughout France this institution
| has branches also in Spain, England,
Belgium, Australia, New Zealand and
India, and is preparing to open fur
their branches in Alsace and Lorraine
The Compton also has close working
arrangements with the French colon
ial banks in Algeria, Egypt, East Afri-
ca, Madagascar, Martinique and Indo-
China. The extensive services of this
institution will similarly be available
to the customers of the new corpora
ton and the American group.
"Mr. Goodhue. our vice president,
who recently returned from France
where he has been in active negotia-
ton with the officials of the Comp
toir, has been greatly impressed by
the need for just such n practical CO.
| operative organization as this new
corporation affords. He believes, as
we all do, that this new step in inter
national banking will contribute IN
no small measure to the upbuilding of
| French American commercial rela-
tons"
Ihe capital, surplus and undivided
profits of~the National Bank of Com
merce in New York are over $50, 000,-
600, and the resources over $55S, 200,-
600. The capital and surplus fund of
the Compton National d 'Escompte de
Paris are over $4S 100000 and the re-
sources over $500, 900, while those
of the First National Bank of Boston
are respectively $27 900 and $222, =
500, 600. This makes a total capital,
surplus and undivided profits of the
institutions back of the French Amer
lean Banking Corporation of more
than $125 200, 900, with total resources
of over $3.50, 100000. The Compton
National d'Escompte de Paris is one
of the three greatest banking institu-
tons in France. The French Ameri-
can Banking Corporation represents
the first important alliance of this
| type between American banking in
situations and foreign institutions
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