Made President of the International Banking Company. (From the "'N. Y. Commercial Adves tid-Up Capital and Surplus Increased to $10,000,000—A Boon to American Commerce Abroad —Tremendous Scope of the Institution Which Has Been Chosen as Fiscal Agent of the Government in the Philippines.
The International Banking Corporation, which was organised a few months ago, under special charter granting unusually bread powers, to conduct an international banking business in all parts of the world, has me its paid-up capital and sur: plus from $6,000,000 to $10,000,000, and to-day elected Willian L. Moyer president, the bank thus far having had only an ing president. The entire increase in!
up capital has been taken by the very Jargest finance "l_ commercial interests throughout the United States.
In thus almost doubling the capital, and electing the well-known active and able! young banker president, the International Banking Corporation declares its future policy will be one of vigorous activity in international banking, which thus far has been done wholly by and through European banks at a great loss and ineonvenience to the foreign trade of the United States.
'The bourd of directors is composed of men of national and international reputation as financiers, and it is their purpose that the bank' shall not only fill the need of adequate banking facilities long felt by manufacturers and shippers in their foreign expansion, but shall become a strony factor in aiding the development of their foreign trade amd the commercial expansion of the United States.
The headquarters of the bank are at 1, Wall Street. It has established branches in London,, Shanghai, Singapore and,'and is rep-revented in all parts of the world. By government appointment. it is the fi sea agent for the United States in China in charge of the collection of the Chinese indemnity, and is also the fiscal agent for the civil government of the Philippines.
Mr. Moyer has hada succession of promotions since coming to New York two years ago. He was first elected vice-presi Vent of the Western National Bank. A fe months ago he became the president of the National Shoe and Leather Bank, and will continue in that capacity for the' present. Itis expected that he will later be one of its vice-presidents and on its executive committee, He is one of the best-known and most popular bankers in the country.
As the interests identified with the Western National Bank, including the Equitable Life Assurance Society, are large holders of the International Bank ok, and as it is understood that those interested in the National Shoe and Leather blity' is recognised by these great fin ders of the East, with whom he has thus been associated, no less than it is recognised by the hankers of the West, where he received his hanking education, and where his friends among the bankers are coextensive with their numbers.
Included in the directorate of the Inter-Banking Corporation are the president and vice-president of the Equitable Life Assurance Society—James Alexander and James H. Hyde; the president and vice-president of the Metropolitan Life Assuranes Company—John R. Hegeman and Haley Fiske; the president of the Travellers' Insurance _Company—Sylvester C. Dunham, H. C. Trick, Gen. Thomas H. Hubbard,' Edwin Gould, E. Haniman, Abram 'S. Hewitt, George Crocker, H. E. Huntington, Alfred G. Vanderbilt, and a number of others of no less prominence.
Text read from the printed page and cleaned; old type leaves the occasional error.