The New York herald. [volume] (New York, N.Y.) 1920-1924, 1922-10-27
IRVING-COLUMBIA
MERGER PROPOSED
National Bank and Trust Com
~pany Directors Approve
Consolidation Plan.
CAPITAL rs $17,500,O00
Combination Would Operate
Under State Charter and
Retain Officers.

The business OF the Irving National
Bank and of the Columbia Trust Com
pany will be consolidated IL the proposal
of the directors OF these institutions is
approved by the respective shareholders.
Under the plan which has been drawn
up the consolidated institution will oper-
ate under State charter and be known
as the Irving Columbia Bank and Trust
Company, with capital OF s1T,500,000
and surplus and undivided profits of
$40. 500. 600.
OF the capital S12,5Oo.oOo. or share
for share of it's present capital stock,
will be contributed by the Irving and
Sc. 900 900, or share Cor share of its
present capital ~ the Columbia. The
surplus and undivided profits will be
contributed on the same pro rata basis
by each institution. The proposed
merger is regarded as q logical develop
ment In the combination Of the special
lied services of both institutions, which
will cover the metropolitan district
through offices in Manhattan, Brooklyn
and Tho Bronx.
The Irving National Bank was organ-
lied originally as a State hank in 1851
and has specialized in commercial bank
ing for seventy years. T'he last published
statement shows deposits OF $4,000, 900.
The Columbia Trust Company was
organized in 1884 and has specialized In
the development of It's trust department.
Deposits, according % its last state
ment, exceeded $50. 900 900.
Plans provide for the maintenance of
fourteen offices and the retention of the
personnel Of both institutions. Lewis l..
Pierson. chairman of the board. and
Harry u. Ward, president Of the Irving
National Bank, viii hold the same Of
fices in the new company. Willard V.
King, president OF the Columbia Trust
Company. will be chairman OF the ad-
visory board. In charge of the office al
GO Broadway. the present quarters OF
the latter institution.
The Irving National Bank has SIX
Offices in Manhattan and three in Brook
Ign, while the Columbia Trust Company
has four offices in Manhattan and one In
The Bronx.
Directors Of the Irving National Bank
include NJ NJ. Belding, William c.
Breed, f. A. M. Burrell. Warren Cruik-
| shank, William X Dick, Austin b.
Fletcher. Henry Fletcher, Alexander Gil
| bert, Rollin p. Grant. Harold A. Hatch,
| Thomas b. Kent, Lee Kohns, Frederic G..
Lee, John II. Love. Adam X. Luke,
Arthur W. Miburn, Sidney n. Mitchell,
! Daniel p Morse. Hubert r. Parson
Charles Il. Perkins. Lewis e. Pierson,
John ]. Pulleyn, Harry III. Raymond,
]. l.. Reiss. J. II. Schoonmaker. William
Skinner Alfred Ii. Swayne, Gustav
Vintschger, Harry z. Ward. Charles
Elliot Warren, Theodore +. Whitmarsh,
Daniel w. Whitmore and Harry NJ.
Williams.
The directors of the Columbia are
Charles II. Keep. Benjamin l.. Allen.
Ancell II. Ball. Howard Bayne, Samuel
G. Bayne. Union n. Bethel, Franklin @.
Brown Harry L. Caesar, A. Il. Carlton,
Newcomb Carlton. Edward H. CLARK,
George Crawford Clark, Jr.. II. Il. Clark,
Edward Cornell. Joseph T.. Cotton.
Moreau Delano, James NJ. Clifford, j.
| Horace Harding. Willard V. King. Philip
Lehman, Alfred E. Marling. Augustus G..
Paine, Jr., William A. Phillips, Francis
l.. Robbins. Jr., Noah c. Rogers, Arthur
| Sachs, Frederick Strauss. William A.
Tucker, Elisha Walker and Frederick W.
| White.