New Bank. In Manhattan last week the Interstate Trust Co., with one-time (1923-26) Governor George S. Silzer of New Jersey as chief organizer and president, opened for business. Capitalization $3,000,000.
Stinnes to U.S. Hugo Stinnes, son of the late War industrialist of Germany, turned last week to Halsey, Stuart & Co., A. G. Becker & Co., and Newman, Saunders & Co., all of Manhattan, for a $25,000,000 loan at 7%. With the money he will pay off all his debts to German banks and form two companies—one to operate his family coal industry with its...
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