The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1890-01-24
A State Fidelity and Loan Company.

Some OF the greatest needs felt by the whole
business community, without distinction OF
ssG bv are q Whom
Is reposed, the privilege of obtaining i'm
mediately and without asking personal favorS,
good and sufficient SuretieS on bonds for the
Performance of official or duciary duties, and the
facility for borrowing money from source which
is perpetual and thus avoiding the inconvenient
changes necessitated by death and other mutations
incident to individuals Associations have been
formed from time to time with the object OF secur-
ing the above advantages, but they have hitherto
been confined almost exclusively TO large cities,
and in our State 10 Baltimore city. No effort has
been made to secure to the rural districts such
benefits until within very short time past. The
effort referred to appears to be fully embraced in
bill introduced into the Legislature last Friday by
Senator Smith, of Worcester county, to incorporate
the Fidelity Loan and Trust Company of Maryland.
BY its terms important addition to the financial
Institutions of the State will be made, for while the
charter embraces the same powers exercised by
similar companies now existing in Baltimore, yet
by provisions for county representation Ill the
board of management, it will be enabled to extend
its benefits to every section of the State. The
charter asked for wisely provides that seventeen
of the directors shall come from the counties OF the
State, the other eighteen to be taken from Balti-
more city and other places.
This will insure to the county people who
take stock in the company direct representation
i'll its management. Fidelity insurance will be a
principal feature of the company, and one which
heretofore the rural sections have not had the
interest to lawyers especially and to public ohclas
and officers of various financial institutions, who
for the performance of duciary duties, is that by
this company they will be relieved of such embar-
rassment for reasonable compensation; the in
stituton undertaking to do, for consideration,
what friends now often reluctantly asked to do.
The new company also proposes TO loan money IN
the various counties OF the Stale and aid in de-
VelOpng real estate and local enterprises and re-
sources Farmers and other residents of the cOun-
try districts will thus be relieved OF Me stringency
in money matters often telt IN the most fertile sec
tons. Another great advantage TO them VIII be
that in borrowing from perpetual company they
will be freed from the inconvenience OF change i'll
investment often compelled by death and other
pOratorS named i'll the act and who are also the
directors for the first year, are as follows: Lloyd
l.. Jackson, Robert Ober, Jno. b. Mcdonald, Solo
mon Frank, James Sloan Jr., Clinton =. Paine,
Thomas C. Basshor, George f. Sloan, Edward j.
Codd John Waters, Wilbur +. Jackson, Geo. War
field VIM. A. Hammond, George Gator Joseph X.
Stonebraker, H. Crawford Black, Chas W. Dorsey
Lowndes, of Allegany county; II, H. keedy, of
Washington; c. V: 5. Levy. OF Frederick county;
Hattersley w. Talbot, of Montgomery; Edwin
Warield, of Howard j, Th0S. g. Hopkins, of Har-
ford; Chas. L. Fink, of Carroll; John Crowther,
Jr, of Baltimore; c., C. Magruder, of Prince
Georges; George W. Bishop, OF Worcester; James
y. Dennis, of Somerset; james b. Ellegood, OF
Wicomico: Henry Lloyd, of Dorchester: Edwin ii.
brown. of Queen Anne's; Harrison W. Vickers, OF
Kent Philip W. Downes. of Caroline, and Oswald
Tilghman. of Talbot county. The capital stock is
81 O0O divided into 10000 shares at $50 EACH
1t will thus be seen that the enterprise whilst mann
tanning its headquarters here an important addi-
the same time will give valuable aid in promoting
business improving real estate, tightening the
financial burdens and developing the resources OF
every part of the State.-1he Record.