The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-30
RRENCH-AMERICAN
BANK Is ORGANIZED
Two United States Banks Hold
Half Of Stock-French
Bank Other Half.
TO PROMOTE COMMERCE
Is First Important Alliance of
Type of American and
Foreign Interests.

An alliance Of French and American
banking interests to promote trade be-
tween France ana the United States has
Just been perfected. according to an an
nouncement made yesterday. Incorpora-
ton papers OF the French American
Banking Corporation were fiied at Al.
hany. one-half Of the stock of the new
corporation win bs held by two Amer.
lean banks and the other half BY q
French bank. The American partici-
pants In the alliance are the National
Bank Of Commerce In New York and the
First National Bank OF Boston, each
holding fourth Of the capital stock OF
the new corporation The French inter-
est In the project 10 the Compton Ma
donal d'EBcompte de Paris.
The French American Banking Cor
poration Is capitalized at 100000 with
a surplus Of 100000, all paid in. Tbs
incorporators arc James s. Alexander,
president of the National Bank Of Com
merce In New York; Daniel q. Wing
president of the First National Bank OF
Boston; Maurice Sylvester. American
representative Of the Compton National
d'Escompte de Paris, and othera Mr..
new company. There win be twelve d.
rectors. six to represent the American
group and six the French group.
Americas new position. rs the worlds
chief source Of capital for internat ional
commerce necessitates the development
Of the foreign business OF this country's
banks to meet the unprecedented condi-
TONS" said President James 8. Alex
ander Of the National Bank OF Com
nerce In New York in discussing the
Affairs Of the new corporation. This
banks represents. We believe an efficient
fundamentally to facilitate and foster
trade relations between the United States
and France, which the new era demands.
We consider It . most practical way to
realize the necessary cooperation be-
tween French and American banking
and to give American business men the
benefit Of the experience and connections
OF native French bankers that could be
given to them in no other way.
To DO Acceptance Business.
The French American Banking Cor
rosation Is an organization which has
behind II the good will Of the three
great established institutions which
hold its stock 1t Is primarily a COM
mercial bank, N are all the institutions
which control II. 1t Is expected that II
Will engage in the acceptance business
and In general assist In financing trade
between the United States and France.
including the French colonies in all parts
Of the world"
Daniel @ Wing. president OF the
First National Bank OF Boston. said Z:
The French American Banking Cor
poration will foster the development of
French and American trade In a broader
and bigger way than has ever been pos
sible. The three banks uniting in this
enterprise have the same general policy
and are strictly commercial institutions.
The new corporation will be operated
along the same lines and its manage
ment devote all its energies to the de-
velopment OF commercial relations, par
ticularly between America and France.
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 Cor
porat'on, which will enable the Compton
National to extend the best OF terms
and services to French importers and
exporters interested In developing or
extending their trade with America.
To Have Buenos Ayres Connection.
Facilities Of the Buenos Ayres branch
OF the First National Bank of Boston
VIII be placed similarly at the disposal
OF the Compton National and the French
American Banking Corporation. In like
manner the National Bank Of Commerce
IN New York ana the First National
Bank of Boston through tho French
american Banking Corporation will be
able to offer unexcelled services to the
American merchant who 10 interested In
foreign trade.
I'm addition to the two hundred odd
branches OF the Compton National
throughout France, the institution has
branches In Spain. England, Belgium,
Australia. New Zealand and India, and
is preparing to open branches in Alsace
and Lorraine. The Compton National
also has close working arrangements
with the French colonial banks In AL
geria. Egypt, East Africa, Madagascar,
Martinique and Indo China. The extern
sive services Of this institution will SINH
larry be available to the customers OF
the new corporation and the American
group"
The capital. surplus and undivided
PROFITS OF the National Bank OF Com
merce in New York are moro thaA $780,
100000 and It's resources more than
S55s.2oo.o0o. The capital and surplus OF
the Compton National d. Escompte de
Paris are more than S48.00o.000 and Its
resources moro than $500. 900. 900. Those
Of the First National Bank OF Boston
arc respectively more than 227,so0,000
and $2z2.600.o0o. Thus tho capital, sur
plus and undivided profits OF the institu-
tions back OF the new corporation are
moro than $275 5000. 900 and their total
resources more than $3.50. 900, 900. The
Compton National Is one OF the three
greatest French banks. The French
KmSfIcKh BANNING Corporation repre-
sents tho first important alliance of its
type Of American and foreign banking
institutions.