Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-03-22
NATIONAL STATE
AND CITY ACQUIRES.
MAJORITY STOCK
Acquisition Viewed as One
of Most Important Trans.
actions in Years.
FINANCIAL CIRCLES
CRATIFIED AT NEWS
Richmond Institution Broad
ems It's Usefulness to En-
tire Commonwealth.
rs SEEN AS HAprN AUGUHY
Local Financial Institutions Equip
ming Themselves IN Handle n..,s
FINANCIAL CIRCLES
CRATIFIED AT NEWS
IS SEEN AS HArrl AuGunr
Local Financial institutions Equip
ping Themselves to Handle DeaIs
Involving Large Amounts.

Acquisition Of Il controlling intc.-
est in the stock of the Old Domin-
ion Trust Company by Colonel Julien
II. Hill. president. and his associ-
ates in the National State and City
Bank was made yesterday, and the
news mot with cordial reception in
the financial circles OF the city.
where for several days there had
.een speculation as TO who would be
chosen to I'LL the vacancy of tho.
presidency OF the Old Dominion Trus;
Company caused by the death OF
William NJ. liabliston.
Frederick Il. Nolting & Co. neEo,i-
ated the purchase OF the stock for
the National State and CITY Banks
officials. These purchases were made
from day to day and at varying
changes in price. and no announce
ment Of the purchasers name was
made until sufficient block OF the
stock had been secured to give con-
troll OF the trust company.
II consider the acquisition of tbc
o!d Dominion Trust Company bv tho
National state and City Bank as on.
OF 'he most important transactions
N years. 1t means that Richmond's
financial institutions are equippinr
themselves to handle deals involvinr r
hnSe amount of capital. making /,
unnecessary for the people of IN.
state to go North for money" said
frederick h. Noting yesterday after
noon In discussing the deal.
Resources of Institutfon..
AZ thc time the deal was consun,
"''teo inc old Dominion Trust Com
p"aS had resources of S4.7oco.9. do
posts OF s2.i25.60o, and surplus and
undivided profts of sl.2a7, 900: while
'hc Nat!ona! State and CITY BanE b..,
resources OF sIs,s3i.2S5: deposits ~
io"'1s4, and surplus and u,a,-
'!"e" TFohts Of Sl.l33.OGl. which viii,
give tHc combined organization r.-
sources totallnG S2l.G37.a!3; deposi,s
Oh Sl"'osl.3s4, and surplus apJ nm
divided profits OF s2,3eo.06,.
me National State and r.it,. p.,.
bitiliS Dack 1874
as 'he state Bank of Virginia.
vas iochted at Eleventh and Main
e'ree's' In 1907, the hank awaited
i'so'i OF obtaining national charter
ana became the National state na,.
IN 1870. the Merchants. and src
chanics' Banking ana insurance
company was functioning. In 1871.
''S name was changed 10 ,he f.it>.
Nank ana was located at Fourtesntb
and Main Streets. and I'm 1872 &c
name was again changed TO the civ
savings Bank. In 1910. the C,i,v
savings Bank was merged with IN,
National State Bank, the Sa,,o,,,
state and City Bank becoming ,bo
official title.
VIII Continue Trust Company.
"hiie no official statement is
'oF'hcoming. II is known that thn
national state and CITY Bank will
continue the Old Dominion Trus,
company under the old name for
some months TO come. and there vii,
hc no change in the location of tn.
trust company until probably some
future date. The present officers Of
the Old Dominion Trust Comuanv
w. H. Slaughter. vice -pres;dan, and
secretary; w. J. Whitchurst. assist
ant treasurer: Joseph VI. Hurt. Jr..
trust officer. and L. +. Wilson. as
sistant secretary. The directorate Is
composed OF $. r. Boverilsc. ]. r.
Brady. NJ. G. Branch. Jonathan BRYAN.
James II. Doolcy, r. f.; Coles. Edwin
Mann, Edwin \. Palmer, II. Il. Pol
lard. Jr.. John Garland Pollard. w.
$. Rhoads and y. a. Saunders, Jr.
The officers OF the National state
and City Bank are William n.
Palmer, chairman OF the board !;
Julien II. Hill. president; r. f. Gun
ningham. vice-president: w. s. Ry-
land, vice-president-cas Jesse T..
Wood. vice-presidont; B. Frank Dew,
s. Young Tyree and Lawson III.
Cooke, assistant cashiers. The di-
rectorate is composed OF f. j. Addi.
son, James II. Anderson, Hugh An
trim, Spencer l.. Carter James d.
Crump, II. w. Ellerson. II. L. Fer
guson, Horace s. Hawes. Julien n.
sIi!l. G. K. Lassiter. j. J. Leake, Ed
ward G. Mayo. James /. Miller. Ed :
Continued on Page 3. Col. ,6.)
= - -------------' ~
Table G'Hote; Dinner, 8 to $3.50 r. NJ