EXHIBIT 25 - -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 - ------------------------- FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE - --------------------------------------------------- CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) - --------------------------------------------------- THE CHASE MANHATTAN BANK (Exact name of trustee as specified in its charter) New York 13-4994650 (State of incorporation (I.R.S. employer if not a national bank) identification No.) 270 Park Avenue New York, New York 10017 (Address of principal executive offices) (Zip Code) William H. McDavid General Counsel 270 Park Avenue New York, New York 10017 Tel: (212) 270-2611 (Name, address and telephone number of agent for service) --------------------------------------------------------- GATX CAPITAL CORPORATION (Exact name of obligor as specified in its charter) Delaware 94-1661392 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification No.) 4 Four Embarcadero Center, San Francisco, CA 94111 (Address of principal executive offices) (Zip Code) Medium Term Notes, Series F Due 9 months to 30 years from Date of Issue (Title of the indenture securities) GENERAL Item 1. General Information. Furnish the following information as to the trustee: (a) Name and address of each examining or supervising authority to which it is subject. New York State Banking Department, State House, Albany, New York 12110. Board of Governors of the Federal Reserve System, Washington, D.C., 20551 Federal Reserve Bank of New York, District No. 2, 33 Liberty Street, New York, N.Y. Federal Deposit Insurance Corporation, Washington, D.C., 20429. (b) Whether it is authorized to exercise corporate trust powers. Yes. Item 2. Affiliations with the Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation. None. 5 Item 16. List of Exhibits List below all exhibits filed as a part of this Statement of Eligibility. 1. A copy of the Articles of Association of the Trustee as now in effect, including the Organization Certificate and the Certificates of Amendment dated February 17, 1969, August 31, 1977, December 31, 1980, September 9, 1982, February 28, 1985, December 2, 1991 and July 10, 1996 (see Exhibit 1 to Form T-1 filed in connection with Registration Statement No. 333-06249, which is incorporated by reference). 2. A copy of the Certificate of Authority of the Trustee to Commence Business (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference. On July 14, 1996, in connection with the merger of Chemical Bank and The Chase Manhattan Bank (National Association), Chemical Bank, the surviving corporation, was renamed The Chase Manhattan Bank). 3. None, authorization to exercise corporate trust powers being contained in the documents identified above as Exhibits 1 and 2. 4. A copy of the existing By-Laws of the Trustee (see Exhibit 4 to Form T-1 filed in connection with Registration Statement No. 333-76439, which is incorporated by reference). 5. Not applicable. 6. The consent of the Trustee required by Section 321(b) of the Act (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference. On July 14, 1996, in connection with the merger of Chemical Bank and The Chase Manhattan Bank (National Association), Chemical Bank, the surviving corporation, was renamed The Chase Manhattan Bank). 7. A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority. 6 8. Not applicable. 9. Not applicable. SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, The Chase Manhattan Bank, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 30th day of September, 1999. THE CHASE MANHATTAN BANK By /s/ James P. Freeman ----------------------- Item 16. List of Exhibits List below all exhibits filed as a part of this Statement of Eligibility. 1. A copy of the Articles of Association of the Trustee as now in effect, including the Organization Certificate and the Certificates of Amendment dated February 17, 1969, August 31, 1977, December 31, 1980, September 9, 1982, February 28, 1985, December 2, 1991 and July 10, 1996 (see Exhibit 1 to Form T-1 filed in connection with Registration Statement No. 333-06249, which is incorporated by reference). 2. A copy of the Certificate of Authority of the Trustee to Commence Business (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference. On July 14, 1996, in connection with the merger of Chemical Bank and The Chase Manhattan Bank (National Association), Chemical Bank, the surviving corporation, was renamed The Chase Manhattan Bank). 3. None, authorization to exercise corporate trust powers being contained in the documents identified above as Exhibits 1 and 2. 4. A copy of the existing By-Laws of the Trustee (see Exhibit 4 to Form T-1 filed in connection with Registration Statement No. 333-76439, which is incorporated by reference). 7 5. Not applicable. 6. The consent of the Trustee required by Section 321(b) of the Act (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference. On July 14, 1996, in connection with the merger of Chemical Bank and The Chase Manhattan Bank (National Association), Chemical Bank, the surviving corporation, was renamed The Chase Manhattan Bank). 7. A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority. 8. Not applicable. 9. Not applicable. SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, The Chase Manhattan Bank, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 30th day of September, 1999. THE CHASE MANHATTAN BANK By /s/ James P. Freeman ----------------------- Exhibit 7 to Form T-1 Bank Call Notice RESERVE DISTRICT NO. 2 CONSOLIDATED REPORT OF CONDITION OF The Chase Manhattan Bank of 270 Park Avenue, New York, New York 10017 and Foreign and Domestic Subsidiaries, a member of the Federal Reserve System, at the close of business June 30, 1999, in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act. Dollar Amounts ASSETS in Millions 8 Cash and balances due from depository institutions: Noninterest-bearing balances and currency and coin .......................................... $ 13,119 Interest-bearing balances .................................. 6,761 Securities: Held to maturity securities ..................................... 892 Available for sale securities ................................... 42,965 Federal funds sold and securities purchased under agreements to resell ....................................... 32,277 Loans and lease financing receivables: Loans and leases, net of unearned income ..... $130,602 Less: Allowance for loan and lease losses .... 2,551 Less: Allocated transfer risk reserve ........ 0 -------- Loans and leases, net of unearned income, allowance, and reserve ..................................... 128,051 Trading Assets .................................................. 41,426 Premises and fixed assets (including capitalized leases) .................................................... 3,190 Other real estate owned ......................................... 28 Investments in unconsolidated subsidiaries and associated companies ....................................... 182 Customers' liability to this bank on acceptances outstanding ................................................ 901 Intangible assets ............................................... 2,010 Other assets .................................................... 14,567 -------- TOTAL ASSETS .................................................... $286,369 ======== 9 LIABILITIES Deposits In domestic offices ................................................................................ $ 101,979 Noninterest-bearing ................................................................................ $ 42,241 Interest-bearing ................................................................................... 59,738 In foreign offices, Edge and Agreement subsidiaries and IBF's ............................................................................. 76,395 Noninterest-bearing ................................................................................ $ 4,645 Interest-bearing ................................................................................... 71,750 Federal funds purchased and securities sold under agree- ments to repurchase ................................................................................ 36,604 Demand notes issued to the U.S. Treasury ........................................................... 1,001 Trading liabilities ................................................................................ 30,287 Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases): With a remaining maturity of one year or less ...................................................... 3,606 With a remaining maturity of more than one year through three years ................................ 14 With a remaining maturity of more than three years .......................................... 91 Bank's liability on acceptances executed and outstanding ........................................... 901 Subordinated notes and debentures .................................................................. 5,427 Other liabilities .................................................................................. 11,247 TOTAL LIABILITIES .................................................................................. 267,552 --------- EQUITY CAPITAL Perpetual preferred stock and related surplus ...................................................... 0 Common stock ....................................................................................... 1,211 Surplus (exclude all surplus related to preferred stock) .......................................... 11,016 Undivided profits and capital reserves ............................................................. 7,317 Net unrealized holding gains (losses) on available-for-sale securities ................................................................... (743) Accumulated net gains (losses) on cash flow hedges ................................................. 0 Cumulative foreign currency translation adjustments ................................................ 16 TOTAL EQUITY CAPITAL ............................................................................... 18,817 --------- TOTAL LIABILITIES AND EQUITY CAPITAL ............................................................... $ 286,369 ========= I, Joseph L. Sclafani, E.V.P. & Controller of the above-named bank, do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief. JOSEPH L. SCLAFANI We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct. 10 WALTER V. SHIPLEY ) WILLIAM B. HARRISON, JR. ) DIRECTORS FRANK A. BENNACK, JR. ) 11