AIC directors_Armour_Coffin_Corey_Grace_Hill_Kahn_Lovett_Monell_Pritchett_Rockefeller_Ryan_Sabin_Saunders_Stillman_Vanderlip_Vail_Sebster_Wiggin_Winthrop_Stone_1915

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Clipped by quixoticjoust

 - American International Corporation Incorporated...
American International Corporation Incorporated at Albany Prominent Prominent Men on Directorate Will Seek to Develop Trade and Indus - try the World Over New York Nov 23 The incorporation incorporation of the American International Corporation Corporation with a capital of 50000000 at Albany was formally announced here today The new corporation plans to develop American trade In Europe and South America It was stated Another Another feature of the business will be the furthering of foreign loans and Investment Investment enterprises The list of directors consists of J Ogden Ogden Armour Charles A Coffin William E Corey Joseph P Grace James J Hill Otto H Kahn Robert S Lovett Ambrose Monell Henry S Pritchett Percy A Rockefeller John D Ryan Charles S Sabln William L Saunders James A Stlllman Frank A Vander - llp Theodore N Vail Edwin S Webster Webster Albert H Wlggin Beekman Win - throp and Charles A Stone O A Stone as President The president will be Mr Stone who is bead of the firm of Stone Webster of Boston B P Tinsley treasurer of the Standard Oil Company of New York will be secretary - treasurer Of the total capital stock 49000000 will be common stock and 1000000 in managers shares The managers shares will be bid for at par the same as the common stock but will be held by interests actively connected with the management of the corporation and must be sold back to the corporation when any member of the management retires Holders of managers shares will have no advantage advantage over common stock holders until the common stock pays more than 7 per cent interest No Stock Offered to Public The stock of the corporation will not bo offered to the public it was stated but will be privately subscribed by the individuals and firms interested in the undertaking Charles A Stone wno will have the - active management of the corporations work said the corporation will undertake undertake to establish equitable Industrial and trade relations between the United States and European and South American American counrles In carrying out this idea many ramifications will result The corporation corporation will not only do a banking business but will finance and in some instances superintend the construction and operation of large necessary enterprises enterprises which will tend to develop the resources of foreign countries Vanderlip Gives Views Frank A Vanderlip president of the National City Bank of New York who has been active in organizing the new corporation said The corporation must not be regarded regarded as a mere money - making enterprise It will stand for the development of America along international lines For this reason every effort has been made to affiliate with the corporation the largest corporation and banking powers of the country One great drawback to the extension pf direct trade relations outside of this country has been the difficulty of supporting our efforts with adequate financial means This is one of the things the new corporation expects expects to do The Federal authorities it is understood understood have been fully informed of the scope of the corporation and have giVen their hearty approval

Clipped from
  1. The Washington Post,
  2. 24 Nov 1915, Wed,
  3. Page 3

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  • — AIC directors_Armour_Coffin_Corey_Grace_Hill_Kahn_Lovett_Monell_Pritchett_Rockefeller_Ryan_Sabin_Saunders_Stillman_Vanderlip_Vail_Sebster_Wiggin_Winthrop_Stone_1915

    Clipped by quixoticjoust – 25 Jan 2017

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