The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-21
ORGANIZE FOREIGN
INVESTING CONCERN
New Corporation Will Finance
Business Interests in
Other Lands.
WILL SELL SECURITIES
Enterprise Said to Be Favored
by State Department as
Trade Stimulus,
WILL SELL SECURITIES

The organization Of a new corpora
ton to be known as the Foreign Bond
and Share Corporation and to finance
public and private enterprises in Central
and South America, the far East, Eu-
rope and other parts of the world, pos
sibly potential competitor of the
American International Corporation In
certain lines, was announced yesterday.
1t is backed in part by those who pro-
NOTED the Asia Banking Corporation,
the Mercantile Bank of the Americas,
the American Foreign Banking Corpora
ton and the China and Japan Trading
Company, but includes, in addition, In
terests affiliated with the Central Union
Trust Company, tho Chase National
Bank. the Columbia Trust Company and
other Institutions.
In an effort to reach all classes OF In
vestors in the United States the new
corporation plans to sell foreign securi-
ties which It may acquire or dispose OF
Its own debentures, having securities OF
foreign companies as collateral The
project, II is understood, has the indorse-
ment of the State Department, which is
particularly interested in this method OF
developing foreign trade.
The State of Delaware has chartered
the corporation with an authorized CAPT.
tai stock of 100000 shares OF common
of 500 par value each and 5000 par
ticipating certificates of no par value
The subscribed capital and surplus Is
SO. 900, 900.
Among the organizers of the corpora.
ton are the following:
Brown Brothers & Co., ]. & W. Selig-
man & Co. the Guaranty Trust Com.
pnny, the Chase Securities Corporation
the Central Union Trust Company, the
Columbia Trust Company. Hayden
Stone & Co, all of New York the Firs,
National Corporation OF Boston; the
fiibernia Bank and Trust Company OF
New Orleans; the First Trust and Saw.
ings Company OF Cleveland: the Angie
and London Paris National Bank Of Sar
Francisco; the Mercantile Trust Com.
pany. the Mississippi Valley Trust Com.
pany and interests associated with the
National Bank OF Commerce, all OF st
Louis and the Central Trust Company
OF Chicago Other institutions which
have eNpr essed their desire to take par
in the enterprise will be announced later
The directors OF the corporation IN.
clude John Henry Hammond ant
Thatcher NJ. Brown. Brown Brothers &
Co: Frederick Strauss and William =
Philips, J. &; w. Seligrnan & Co. Albert
Breton and Harold Stanley, the Guar
anty Trust Company OF New York f. V
r Thayer and r I. Barr OF the Chase
Securities Corporation James n. Wal
lace of the Central Union Trust Com
pany; Howard Bayne OF the Columbia
Trust Company; Charles Hayden o,
Hayden. Stone Il Co; John Sher
win of the First Trust and Saving,
Company r s. Hecht OF the Hibernis
Bank and Trust Company, Herber
Fleishhacker OF the Anglo and London
Paris National Bank Adolfo Stahl O.
New York and Guatemala J. Hugh
Powers of the Mercantile Trust Com
7any Breckinri1ge Jones OF the Missis
sippi Valley Trust Company; ]. G
Ionsdale of tho National Bank OF Com
merce. and Joseph r. Otis of tho Cen
trail Trust Company OF Illinois
The statement announcing the organi
| zaton of the new corporation said IL
part: due to the war. tho export trad
OF the United States has enormously OK
banded. America will soon have tn
greatest merchant feet in the world
| Neither will avail the American peopl
| unless they arc willing TO invest SOM
capital in foreign countries 10 which tn
American merchant feet sails and I,
| which American merchandise is carried
Latin American Asiatic and othel
countries undeveloped economically will
buy merchandise from the nation which
places capital at their disposal This ha!
been tho history OF undeveloped coun
| tries. II Is in large part the secret o
the success OF British. German ant
French trade in such countries"