The Bridgeport times and evening farmer., 1919-05-01
BANKERS AND AMERICANS
 F0RM ALLIANCE


 New York, May 1-An alliance of French and American banking inter ests, representing combined resources of more than one and quarter bill lion dollars, organized to promote trade between France and the United States, was disclosed through the filing yesterday at Albany of incorporation papers for the F'TenCh-American Banking Corporation Half other of the stock will be held by Ameri- can interests and half by French. The plan of operation, it is declared by the organizers, means that hereafter American business men will be able to avail themselves of banking faciII- ties in France as advantageous as Frenchmen> themselves enjoy
 The French participant in the aI- lauce is the Compton National q Escompte de Paris, which takes half the capital stock The Ameri- can interests are the First National Bank of Boston and the National Bank of Commerce in New York, each holding one-fourth the capital stock
 The FrenCh-American Banking Cor poraton is capitalized at $2.O0O. 900. with n surplus of $5OO,O0O, all paid in. The incorpOrators include James s. Alexander, president of the National Bank of Commerce in New York: Daniel c. Wing, president of the First National Bank of Boston, and AIau- rice Sylvester, American representa- tive of the Compton National d'Es- compte de Paris. NIr. Sylvester will be president. There will be twelve directors, six 10 represent the Ameri- can group and six the French group.
 'America's new position as the worlds chief source of capital for in ternattonaI commerce necessitates the development of the foreign business of this Countrys banks to meet the unprecedented cOnditions,'' MT. Alex ander said today, This alliance of great French and American banks represents, we believe. an efficient in strumontaIty to facilitate and foster the trade relations between the Unit ed States and France which the new era demands. We consider 1t a most practical way 10 realize the necessary cooperation between French and American banking, and to give Amer fca's business men the benefit of the experience and connections of native French bankers that could be given to them in no other way.
 The FreuCh-American Banking Corporation is an organization which has behind it the good will of the three great established institutions which hold its stock. It is primar- fly a commercial bank, as are all the institutions which control 1t. It is expected 1t will engage in the ac- ceptanCe business, and in general as sist in financing trade between the United States and France, including French colonies in all parts of the world"
 Mir. Wing said regarding the cor porauon: ''The French-American Banking Corporation will foster the development of French and American trade in a broader and bigger way than has ever been possible before The entire facilities and connections of the National Bank of Commerce in New York and the First National Bank of Boston will be placed at the disposal of the French-American Banking Corporation, which will en- able the Compton National d'Es- compte de Paris to extend the best of terms and services to the French importers and exporters who are in terested in developing or extending their trade with America. FaciIi- ties of the BuenOs Aires Branch of The First National Bank of Boston will similarly be placed at the dis posal of the COmtOir and the French American Banking Corporation. In like manner the National Bank Of Commerce in New York and the First National Bank of Boston. through the FrenCh-American Banking Cor porauon, will be able to offer unex- ceIled services to the American merchant who is interested in foreign trade.
 Tn addition to the two hundred odd branches of the Compton Na- uonal d'EscOmpte de Paris scattered throughout France, this institution has branches also in Spain, England. Belgtu1n. Australia, New Zealand and India, and is preparing to open fur ther branches in Alsace-Lorraine. The Compton also has close working ar rangerTeDts with the French Colonial banks in Algeria, Egypt, East Africa, Madagascar, Martinique and. Indo- China. The extensive services os this institution will similarly be avail able to the customers of the new corporation and the American g1Oup.''
 The capital, surplus and undivided profits of the institutions back of the French-American Banking Corpora tion aggregates more than S125, ,OOO.- O0O and the resources total more than $1,2SO, O,0OO,OOO. The Compton Na- tional dEscompte de Paris is one of the three greatest banks in France.