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Show llEOOIlJIBLETBBOr rRSIC0IPilNy NEW YORK, Jan. 1C Alvln W Krech,. presidonL of tho Equitable Trust company, has submitted an offer to purchase all of the stock of the Trust Company of America at $35 a share. President Oakleigh Thorn of the Trust Company of America, said today to-day that tho directors and sjich stockholders stock-holders as he had been able to see, favor the offer, which will ixj submitted submit-ted to all the stockholders. The exact purpose of IVIr. Krech's offer Is not disclosed, but Wall Street assumes that it is made in the inter- Iest of the Equitable company. , The Trust Company of America was organized by Mr. Thorn and associates associ-ates in 19Q5. It was the center of much interest in the panic of 1907, and withstood a "run" by its depositors deposi-tors which lasted almost a week. Tho part played by the trust company com-pany In that crisis led to the taking over by the Stc-c! corporation of the stock of the Tennessee Coal and Iron company, which the trust company held as collateral. The capital stock of the Trust Company Com-pany of America Is $2,000,000, with a surplus, according to last year's report, re-port, of $6,000,000. Its deposit approximate ap-proximate $30,000,000, with assets in excess of 40,000,000. The Equitable TrusL company was organized in 1902 and has always been regarded as an off-shoot of the Equitable Life Assurance Assur-ance society, with close Gould and Harrlman connections. Tho capital li 53,000 000, surplus $10,000,000, undivided un-divided profits about $1,200,000, and deposits of $3C,000,000, with total assets as-sets of about $G0,000,000. Tho Equitable Trust company was made homeless by the Equitable building build-ing fire. Should il acquire" control of the Trust Company of America, it probably will move to the Trust Company of America building, one of the larges't in the financial district There probably will he a. disposition disposi-tion in some quarters to regard tho acquisition of the Trust company of ( America by the Equitable as a natural ( Jesuit of the recent consolidation of a number of trust companies, In , which the Morgan influence has been . paramount. |