6th Bankers Trust President

Samuel Sloan Colt, conservatively bold and comparatively young, last week became sixth president of the powerful Bankers Trust Co. of Manhattan. Next month Mr. Colt will be 39. Since his Yale graduation in 1914, he has tended strictly to his business, which was banking, except for a War interlude. He was first a first lieutenant, last a major in the Ordnance service. War over, he returned to the Farmers' Loan & Trust, soon became a vice president. Farmers' Loan merged with the National City Bank. He continued as vice president. Seward Prosser of Bankers Trust, a bank which ranks in interbank power next after the late George Fisher Baker's First National, last year made Mr. Colt one of his vice presidents.

Other Banker's Trust changes last week: Henry Jessup Cochran from president (sth) to vice chairman of the board. Albert Arthur Tilney (4th president) from vice chairman to chairman; Seward Prosser (3rd president) from chairman to chairman of the managing committee. (ist and 2nd Presidents Edmund C. Converse and Benjamin Strong are dead.)

The late great Henry Pomeroy Davison founded Bankers Trust 19 years ago with $1,000,000 capital, $500,000 surplus. Last March capital was $25,000.000, surplus and undivided profits $87,000,000, total resources $833,000.000.

Bankers Trust has withstood Depression better than most banks. There have been rumors of its merging with some other institution. Last week's executive changes may be the strategic deploying of powers for such a move.

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