The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-29
Union Trust Company.

% IVY 'cS@tb otfttt.
One of the most influential banking IN.
situations in this city Is that Of the Union
Trust Co., located at 1913 Weybussei ST.
This institution was founded as the Bank
OF America, a corporation chartered by the
Legislature of the State of Rhode Island in
1851. Since that time the institution has
been actively engaged in the banking
business, finally developing iito the Bank
OF America Loan and Trust Uo. The capi-
tai stock was increased to meet the grow
lug de mands OF a greatly extended bust
ness, and by a new charter more extensive
powers were accorded IL. From this time
II occupied a still prouder position in the
hnanca al world. BY its charter 1t was
empowered to act as executor, adminis-
traitor, guardian, assignee and receiver.
IL was, also, by virtue of this charter, en-
powered TO accept and execute all trusts
committed TO IL by any person, corpora
tion, or any court of the State or United
States. The granting of these powers was
4 strong proof OF the confidence reposed
in the company by the State government.
From the Bank of America Loan and
Trust 20. the name was changed in April.
1894, to that of the Union Trust Co., the
name IT bears at present. That the PROS
perity of the institutions has been con-
tinuous is best evidenced by a glance at
their latest statement. The capital stock
at the present time is 1850, 900, and the
surplus s35, 600, the stock being held by
leading citizens as one of the choicest and
most ~remunerative of investments. The
c~ommodious banking offices on Weybos-
set st. are finely appointed, finished in
mahogany wood and brass, containing all
the con7enieuces necessary to the comfort
and quick service o. patrons. The COM
pauy also maintains a branch at Olney-
Vile, located at l Irons block, where an
extensive business Is transacted. It's board
of directors Is thoroughly representative,
being composed OF prominent capitalists
and business men, whose names are sy-
nonymous with ability and integrity, and
whose interests are closely allied 10 tho
growth and prosperity OF the city aud
State. There is no fiscal institution here
which enjoys greater confidence, or whose
management is more signally prudent and
~sagacious. The bank capital is an elo-
quent commentary upon the wisdom and
prudence OF It's executive management,
while its operations ana investments have
been extremity satisfactory. This institu-
ton transacts n general business, and
numbers among its patrons many OF our
wealthiest and most Influential corpora
tions, merchants and business men. The
officers and directors are men who are
well ana favorably known in financial
circles for their integrity and probity Of
character, and are among the most re-
spected citizens of Rhode Island. They
~include: William $. Hayward, pres. I;
Henry l. Greene, v~ice-pres. a. Z. Tour
tvllot, sec. and treas. w. A. Capwell,
manager of Olneyville branch. Directors,
William ). Hayward, Marsden j. Perry,
Lea lder X. Peck, Walter A. Peck, Henry
l.. Greene, George l.. Weaver, Joseph II.
Fletcher, Daniel A. Pierce and Gilbert A.
Phillips. All Of these gentlemen are pro-
mineDt in local affairs, and are ever in
terestcd in anything calculated TO promote
the best interest and welfare OF the city.