Capital of National City Is to be Increased 10000000 With Rentschler As President

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Capital of National City Is to be Increased 10000000 With Rentschler As President - of aud bo public, Paul Will- Capital Of...
of aud bo public, Paul Will- Capital Of National City Is To Be Increased $10,000,000 With Rentschler As President The fact that Gordon Sohu Kenfschlcr is to become president of tho National City Bank, the largest largest bank in the world, as tho result of a merger, lias aroused considerable considerable interest in the merger aud its various rcsutte. The Xeu- York World tells oli tho merger as follows follows : Charles E. Mitchell, president of the National Ci(y b a n k of New York and James IT. Perkins, president o£ the Farmers' Loan and Trust company, company, announced today t h a t tho boards of directors of the two institutions institutions had agreed on terms for t h e filiation of the t r u s t company with tho bank. Meetings of tho stockholders stockholders of both i n s t i t u t i o n s will be held in tho near f u t u r e to approve the transaction. The shares of the capital stock of the trust company will be placed in the hands of trustees to be held for the benefit of the shareholders of the Notional City bank in a manner similar to that in which the capital capital stofik of the National City company, company, which is the bank's security affiliate, is iioiv held. May Change Name The n n m o of tho trust company will probably be changed to City Bank Farmers Trust company. It will devote itself e n t i r e l y to the administration administration of t r u s t s and will take over, us f a r us praci.k'flble, i h o t r u s t business of the National City bank. On the other hanrl, the eommer- business of the trust ! o m p a u y lri |I \ )G taken over by the bank. Tho stockholders of (he trust company ·will receive; when'all nec-j essary corporate steps have been · completed, five shares of stock of the National Cily bank for each share oC stock in the trust, company. company. This will result in an increase increase ol! tho capital of the bank from '$100,000,000 to $110,000,000. It is jilauned that tho trust company company -ivill have a capitol of $10,000.000 $10,000.000 and a surplus of; the same, amount. Iu addition to Ilio existing in- dorsement on the stock certificates ol! tho bank, which evidences the beneficial interest of the shareholders shareholders of the bank in tiie stock o£ the National City company, there will be a second and similar in- dorsement to evidence l.he beneficial beneficial iulcrest of such shareholders in the stock of the a f f i l i a t e d trust company. Proceedings to effect these rc- siills will bo t a k e n under i'oder.il and fctaic laws and f u l l details w i l l be. given in ( b e notices which w i l l be sent out to tho stockholders of both institution?. Changes Announced Charles K. M i t d i e l l w i l l become L HU^.J «]«»·'»/!» of tlio Intui comply mul h e H a m i l t o n s ]-l. Perkins w i l l c o n t i n u e a, l k of t h e "* P^n/, ntul viII ^TM'»fi a - t c d boih! ' flt - fie b u n k . All oC l h « prcs- ' splendid wovb, cnt «mrors ,wl c n l i r e oa'nnwfllion tho 1 ru.-t company w i l l he rc- lin'iHMl, and w i l l be Pupj-ilriiifMitcii personnel of, I h e fnitt de- it of t h (3 b a n k . T f i e n c \v special auditorium. of t h a i n of meetings, o£ their boards of directors directors .· Officers of New Merger 3fr. JHitchdl will become chairman chairman of the b a n k and of the National City company as well as of Trust company. Eric P. Swensou, chairman of (ho-board of (lie b sinco 1!).1'J, will retire from t h a office, but will continue as a director. director. Gordon S. Koutschler, sinco 192j, a, director, and since 19'2j, a vice president and assistant to the presidenf, will become president of tho biiuk. Hugh B. Baker, since 1017 a vice president of tho National National City company, will become president of t h a t c o m p a become a director of t h e bank. bylaw changes necessary to invest tho ol'fico of c h a i r m a n w f i v e powers will be made in three a f f i l i a t e d institutions. Lucian L. Ka'hn president of Ihe Chamber of Commerce, announced Saturday the n a m i n g of a committee to arrange for Hamilton's participation participation in "Management Week." The committee consists of ,7. J. c h a i r m a n ; Dr. Louis If. Thomas Gilmore, Jr., Max- Hartwig, Don McDaniel, Harold Penny Peter E. Hcntsdiler, and Donald Mitchell secretary. The committee will meet at t-lie Y. 51. C. A. Monday morning at 9:30 o'clock to m a k e a r r for t-he a t t e n d a n c e of delegation at a d i n n e r the Frigidare plant i n Dayton on Wednesday evening, April 21, at o'clock. Hamilton is to have leu minutes on a, program in which Chambers of Commerce from the entire Miami Valley will lake J. P. SAUEB DEAD J. P. Saner, 87, life long resident of Preble county, died in a sanitarium sanitarium at Atarlinsvillc, Ind. »~*-«-- . _ Any q u a n t i t y of cement delivered. Call 53. tf Lumber for Phono 53. poultry houses, tf .splendid m receiving Khnatlos, , J^o ilos- Week, winning- t l i e r i u e (.auuil-.-r. building, which t h e Tru.it company is uboul. t o erect to replace its present present b u i l d i n g on t h e west .side (.f I reel, between J'!x^T J'!x^T lic'jiver Htreet, the F o n l h oE iho head office nC t l i e b a n k at No. O-'i \Vall si ret, w i l l be de^isucd lo meet I h e special needs of tin; on;am/,a- tion devoted solely lo t h e h a m U i t i ' ' clinngn Place i m m e d i a t e l y t i I h o board of rlireclor.s of t h e b a n k j hail approved the following a d n i i n i i n j r a t i v f 1 eli,'ni.^r.s in Hie bank and t h o N a t i o n a l C i t y company, w h i c h will lie eH'ei'led at l i r e nr.U regular Fast

Clipped from
  1. Hamilton Evening Journal,
  2. 06 Apr 1929, Sat,
  3. Page 3

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  • Capital of National City Is to be Increased 10000000 With Rentschler As President

    cruther64 – 30 Jun 2013

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