Word: bankes
(lookup in dictionary)
(lookup stats)
Dates: during 1920-1929
Sort By: most recent first
(reverse)
Development of group banking in the U. S. has been rapid. Long a leader of the movement is the Transamerica Corp., holding company for the Giannini institutions. Of many similar organizations formed this year, largest until last week were the First Bank Stock Corp. (TIME, Sept. 2), now controlling 43 banks in the Minnesota-Montana region, with resources of $341,000,000 and the $370,000,000 Northern Bancorporation in the same region. But greatest of all will be Banker Rand's Marine Midland Corp...
Besides the immediate acquisition of 16 banks in the state of New York,* the Ma rine Midland Corp.'s sponsors will make a public offering of stock to finance a $25,000,000 subsidiary bank to be known as the Marine Trust Co. of the City of New York and located in the financial district. While no announcement was made of how much stock would be sold to the public, trading in Marine Midland commenced on the New York Produce Exchange, the stock selling at more than 20 points over the rumored offering price of $60 per share...
Officers were announced as Mr. Rand, president, Ernest Stauffen Jr., chairman of the board of directors, Harral S. Tenney, vice president. Banker Stauffen, enthusiastic, has been a prime mover in group banking, was perhaps principal factor in formation of Marine Midland Corp. But unlike Banker Rand, Mr. Stauffen did not learn his banking behind cages and over ledgers. Graduated from Columbia in 1904, he practiced law, then became vice president in charge of finance of Lord & Taylor, Manhattan merchants. In 1915 he was made a vice president of the Liberty National Bank, kept the position when this institution was merged...
...Banks to be immediately acquired are: The Marine Trust Co. of Buffalo; Union Trust Co. of Rochester; Manufacturers National Bank of Troy; Cortlant Trust Co., Cortlant; Lackawanna National Bank, Lackawanna; Niagara Falls Trust Co., Niagara Falls; Niagara County National Bank and Trust Co., Lockport; State Trust Co., North Tonawanda; Workers Trust Co., Johnson City; The Bank of East Aurora, East Aurora; Bank of La Salle, Niagara Falls; First Trust Co., Tonawanda; Peoples Trust Co., Binghamton; Union Trust Co., Jamestown; Orleans County Trust Co., Albion; Bank of Snyder, Snyder...
...This branch thrived under the direction of partner N. Wetmore Halsey* and later of partner Allen B. Forbes and became Harris, Forbes & Co. There are today Harris, Forbes & Co. branches in Boston, Montreal and London, the original N. W. Harris Co. survives in the Harris Trust & Savings Bank of Chicago. Mr. Forbes died in 1923, and Lloyd W. Smith, Harris, Forbes president since 1921, became also chairman...