Banks

In. Fourth largest of New York banks is Equitable Trust Co. with resources of $953,000,000. Last fortnight its president. Chellis A. Austin died (TIME, Dec. 23). Last week Lawyer Winthrop Williams Aldrich was elected to succeed him. A yacht-goer, Lawyer Aldrich is 44, also a director of Bankers Trust Co. While he has been legal advisor to Equitable for ten years, most famed of his legal activities was to handle John Davison Rockefeller Jr.'s ousting of Oilman Robert Wright Stewart from Standard Oil of Indiana. After his election, Mr. Aldrich frankly conceded he came to Equitable representing Rockefeller interests, confirming the long-held assumption that Equitable is controlled by the Rockefellers.

Out. When Guaranty Trust Co. merged with National Bank of Commerce (TIME, March 11) chairman of the combined organization and responsible for the details of consolidation was James Strange Alexander, for 44 years with the Bank of Commerce. Last week Banker Alexander, 64, announced that, in business 50 years, he would retire Jan. i.

Merger. There is many a venerable bank which only after years of business considers a merger. But last week directors of Underwriters Trust Co. of New York, three weeks old, admitted they were already discussing a merger with the two-year-old Sixth Avenue Bank.

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