Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-12-08
THE DISTRICT TRUST COMPANIES.
Controller Lacey Reports the Years Opera
tfons Under the New Law.


Controller Lacey Reports the Years Opera
tons Under the New Law.
Mr.. Lacey, the controller of the currency, In
his annual report TO Congress gives . summary
Of the condition of the local loan and trust
companies. He quotes the act passed during
the FIRST session of the Fifsy-frss Congress
authorizing the organization Of such compa-
mics and then says:
No charters have been issued by the Com
missioners Of the District Of Columbia to cor
porations formed by tile association Of natural
persons under the first method provided for in
the act, but three companies, incorporated pre-
vious to the passage of the act and at that time
doing business in said District, have awaited
themselves OF its provisions, to wit: The Ameri-
can Security and Trust Company. the WASH
ington Loan and Trust Company and the Ma
,ional Safe Deposit Company.
The American Security and Trust Company
was originally chartered under the laws of the
state Of Virginia on the 18th day of October,
1889, with capital stock Of Il. $50 coo, divided
into shares Of the par value Of 800 each This
company executed certificate Of its intention
to avail itself Of the provisions of the act Of
Congress, on the I1th day of November 1890
and flied the same with the controller OF the cur
rency. 1t having complied with all the pro-
visions of law applicable thereto, on the 18th
to said company the certificate contemplated
by section of the act approved October l,
1880, and the company has since that date boen
operating under its provisions.
The Washington Loan aud Trust Company
was Incorporated under the laws of the state OF
West Virginia on tho 10th day Of August 1889.
This company has q capital Of 81 .OOO, 900, di-
vided into shares Of 500 each, and was doing
business in the District of Columbia at the date
OF the passage Of the act Of Congress above
raflr 10 hax,s pex r1esl x.,,At ~
controller of tine currency a certificate
of its intention to avail itself of the
provisions 81 the act aforesaid and having
complied with the other requirements of the
act. the controller issued to Said company on
the 18th day of December, 1890, q certificate
that it was entitled to transact the business of
trust company.
The National Safe Deposit Company Of Wash
ington was at the date If the passage Of the act
of Congress first above mentioned doing bust
ness in the District OF Columbia as = safe
deposit company, Incorporated by the act of
Congress approved January ~, 1867. On the
18th OF March, 1891. this company executed a
certificate of its intention to avail itself of the
provisions Of the act Of Congress approved
October !, 1890. 1t having complied with the
provisions OF law, the controller issued to
said company, on the Sd day OF April, 1891, the
certificate contemplated by the provisions of
section Of said act, under which it was
authorized to enter upon the business OF q trust
company. 1t also has a capital OF 81 600, 900.
Each of these companies has declared its in
tention to avail itself of the provisions of the
act Of Congress aforesaid for the purpose Of
carrying on the kind or class of business de-
scrIbed in subdivision of section l Of said act;
that Is to say, a safe deposit, trust loan and
mortgage business in addition to the powers
lawfully exercised at the time they severally
came under the operations of the act of Con-
gress above referred to, Each of these COM
panies has also deposited with the controller of