The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-05-02
TRADE BETWEEN
FRANCE AND 0. 5.

new y OfH. AprU I0.--An alliance OF
French and American banking inter
ssts. representing combined resources
OF over one and1a quarter billion dol
lars, organised to promote trade be-
tween France and the United States,
was disclosed through the fling at Al
bAny. N. r.. today april 23) Of the
incorporation papers for the French
American Banking corporation. Half
the stock Of the corporation will be
held by American interests and half
by French. The plan of operation. it
is declared by the organizers Of the
new corporation, means that hereafter
American business men will be able to
avail themselves OF banking facilities
in France as advantageous as French
men themselves enjoy.
The French participant In the alli
ance is the Compton National d Es-
compile de Paris. which takes half the
capital stock The American interests
are the First National Bank of Boston
and the National Bank OF Commerce
In New York. each holding one-fourth
the capital stock of the new corpora
ton
The French American Banking cor
poration is capitalized at $1,000 900,
with a surplus OF 100000. all paid In
The incorporAtors are James S. Alex
ander. president OF the National Bank
of Commerce in New York: Daniai G.
Wing president OF the First National
Bank Of Boston: Maurice Sylvester.
American representative Of the Comp
toir National d Escompte de Paris. and
others. Mfr Sylvester will be pres-
debt Of the new com pany There will
be twelve directors, six TO represent
the American group and six the French
group.
Americas new position as the
worlds chief source Of capital for IN
ternational commerce necessitates the
development Of the foreign business
of this country's banks to meet the un-
precedented conditions" said Presi-
dent James s. Alexander, of the Ma
tional Bank Of Commerce in New
York, in discussing the new corpora
ton. This alliance OF great French
and American banks represents. we
believe, an efficient fundamentally TO
facilitate and foster the trade rela-
tons between the United States and.
France which the new era demands
We consider il a most practical way TO
realize the necessary cooperation be-
tween French and American banking,
and to give Americas business men the
benefit OF the experience and coneec~-
lions OF native French bankers that
could be given to them in no other
way
The French American Banking cor
poration Is an organization which has
behind it the good will of the three
great. established Institutions which
held its stock. II is primarily a COM.
mercfai bank. as are all the institu-
tons which it It is expected that IT,
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 hA werlti1 :. -
President Daniel G. Wing. Of the
First National Bank OF Boston. said
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 possible before, The three banks
uniting in this enterprise have the
same general policy and are strictly
commercial institutions The new cor
poration will be operated along the
same lines, and its management will
devote all its energies to the develop
rnerrt- -oe-commerc!a relations. parti
culariy between America and France.
The entire facilities and connections
OF the National Bank of Comm cree in
New York and the First National Bank
Of Boston will be placed at the disposal
of the French-American Ranking cor
poration, which win enable the Comp
toir National d 'Escompte de Paris to
extend the best OF terms and services
to the French importers and exporters