Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-12-27
TITLE and TRUST COMPANIES
A New and Useful Auxiliary to the
Business World.
How the New Way of Doing Ger
tains Things in the Best Manner
Has Grown Here in Wheeling.
The Possibilities Of the Future.

y
business men here, but the local ex-
istence of such concerns and the many
forms and classes of business they I'M
dertake to perform is matter of inter
est for many outside the business and
professional vocat:ons of the city.
1t can be said with truth that there
is not a class of these corporations but
what is directly or indirectly repre-
sented in Wheeling. The capital en-
ployed and business done by these con-
Germs for 1895 in this city can only be
counted by hundreds of thousands of
dollars, and covers such matters as the
guaranteeing of titles of real estate,
bonds, loans, endorsements of certiti-
Gates of stock and corporate bonds,
acting for surety for those in fiduciary
capacities, as suretyship for employers
in the matter of their legal liability to
those whom they employ and the same
liability tosthem by the employe, the
giving of contractors and builders
bonds, banking in all its forms, and
safe deposit facilities and other forms
and classes which the business public
demands and which inventive business
ability and talent has brought into
practical operation.
In this particular line of high class
specalties in the business aggregations
the most advanced want of the public
upon legitimate business can be fur
nished in Wheeling, and the thorough
ness and financial strength of such
leading concerns here represented
have been proved to be of the highest
order and character.
The added volumes of business in
these lines for the city over those of
1884, as secured by the Register, dem
onstrates beyond question that the plan
Of accepting or asking friends to incur
liability, and referring to them ques-
tons of financial and material import
ance based solely upon their judgment
no matter how good, without further
recourse, is a matter of lessening bus
mess usage in Wheeling. AS in other
ventures, the business man of to-day is
a great admirer and patron Of those
exact and legitimate facilities which
afford him sound and late methods Cf
transacting such business upon pure
~ business basis, and the public in
this city are not behind the times in
this respect, and the patronage given
by the business public and the adoption
by them of such late means of obtain
ing and giving security and the increas-
ing attention paid to the subject of
which mention is made is noticed in
Wheeling at the present time.
But few make large purchases of
real estate in this city to-day without
the title is guaranteed by title corpor-
alton or company, and loans upon real
estate are closed, generally speaking,
in this city only after careful enquiry
and endorsement by the same author
ity.
A particularly new departure in this
matter in Wheeling is found in guaran-
tees against dishonesty to the employ
er and indemnifying him against liza
bility for accidents and injuries TO
those whom he employs. Banks and
other concerns whose funds and bust
ness is handled largely by employees
are more generally requiring such
bonds to be furnished. The matter OF
indemnifying individuals, corpora
tons and companies against llaDillty
10 those in their service, occasloned by
personal injury while in such employ
ment. for which the law would make
them liable, is a comparatively new
field in Wheeling, and one that is be-
inc taken advantage of by the manu-
featuring interests in the city to con-
siderable extent.
Contractors and builders no longer
generally ask friends to stand with
them or for them in liability to the con-
tractee for any probable losses IN
erecting buildings in this city and
vicinity. but receive such aid IN
constantly increasing ratio from the
class of concerns here treated OF, ana
the Courts in the State and country are
more generally nowadays designating
such trust companies to act as as
signees and in all forms of represen-
tative capacity than formerly, and also
the bonds required by law in the
administration of the same are more
frequently furnished by such corpora
tions and companies than one year ago.
What will be the future of such con-
cerns hereabouts was asked of prom
inent business man by a Register rep
resentative yesterday. In reply, 1t was
stated that for the immediate future
such improvements would be IN the
line of the more general use OF the IA
cilities of such Trust Companies and
\ reduction on the part OF such con-
Germs in the matter of premiums and
| their application to new fields of bust
ness pursuits demanding or requiring
protection and indemnity.
That there is a most promising fu-
/ tire for this class of business corpora
lions appears certain. Month by month
and year by year they are more gen.
I erallv taken advantage Of, growing in
popular favor and usefulness as they
are better understood and appreciated,
( and it appears but a question OF time
when the old idea of personal endorse
ments of paper. personal signatures on
/ bonds and personal guarantees OF every
| description will be retired in favor Of
| the backing Of corporations especially
/ maintained for such purposes. In other
! words, in the not distant future, II A
wants to raise money on either his note
or some form of property he will draw
the paper. take it to the Solid Endors-
/ ing and Guaranteeing Company, pay a
/ fee. have the paper endorsed by the
company, and then go to the banking de-
partnent of the same Company and
have the document discounted. AL
/ ready it has nearly come to this, for
/ the uarantee and trust company will
/ loan you money, sell your property.
guarantee your title, vouch for the
; honesty Of NOur emDlOve 90 IN vOur
official bond, and do large number Of
other things of the same nature II
! is a new, powerful and useful adjunct to