BOSTON BANKS TO MERGE
New York Times
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Special to The New York Times
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BOSTON, July 21---The death of Arthur W. Newell, President of the Fourth National Bank, who was lost on the Titanic, is about to be followed by the consolidation of that institution with the Atlantic National Bank.
The consolidated bank will have as its head Herbert K. Hallett, President of the Atlantic. The merger wiil give total deposits of about $14,000,000. The capital of the Fourth National is $1,000,000 and its surplus and profits $90,000.
The Atlantic has $750,000 paid in capital and about $700,000 in surplus and undivided profits. The Atlantic absorbed the Metropolitan Bank in July, 1909, at which time the Metropolitan had $500,000 in capital stock and surplus and undivided profits amounting to $200,000.
Related Biographies:
Arthur Webster Newell
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Mark Baber
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1912 ) BOSTON BANKS TO MERGE
New York Times (ref: #3541, accessed 20th March 2010 03:07:10 PM)
URL : http://www.encyclopedia-titanica.org/boston-banks-merge.html
