Bridgeton pioneer. (Bridgeton, N.J.) 1884-1919, 1896-02-20
FINANCIAL PROJECT.
iHere seems to be no Doubt But That
Big Financial Institution Will
be Located Here.

Big Financial Institution Will
be Located Here.
Safe and Deposite Companies are
among the most successful financial
enterprises of the country, and Bridge
ton, at an early day, is likely to have one
located here. Camden has several. and
they have been very. prosperous, and
othef towns are supporting them and
ma them great convenience.
The promoters of the lccal scheme are
among the most subs antial gentlemen of
the city, and they are the sort of men
VINO always push things to a successful
CONCLUSION. Among those in this citv
are Benjamin Hancock, Richard More.
Sheriff Shinn, Assemblyman Minch. C.
w. Shoemaker, Walter H. Bacon, VIM.
q. Garrison, Judge Mulford Ludlam.
George Langley, w. D. Kimble, and
others. Mr.. Bacon is one of the most
active promoters Of the scheme and is
actively engaged in pushing the matter.
1t IS believed that Trust and Deposits
Company would find ready field here.
FROM what can be learned it is the inten-
ton OF the Company to accept deposits
and give interest upon time deposits.
The company would also act in the
capacity of savings bank, an institution
which has been greatly needed here for
years.
A letter has been addressed to num-
Der of gentlemen throughout the county,
which explains fully the object of the
promoters. A part of the letter is pub
lished:
FEBRUARY 12, 1896.
Ny Dear Sir: -
Arrangements have been perfected for
the immediate formation of Safe De-
posit and Trust Company in this county
with its office in the City of Bridgeton.
Subscriptions to the capital stock are
invited and the Subscription Book may
be found at the Office of Walter II. Bacon,
IN Bridgeton, n. j., or Subscription may
be made on the enclosed blank and sent
| to me.
The gentlemen interested in the matter
| feel that the success of the enterprise de-
pends largely upon wide and judicious
| distribution of the stock of the Company,
| and they therefore desire to obtain as
stockholders, Influential men in this and
neighborhing counties. You have been
agreed upon as a desirable representative
in your locality, and have been request
ed to communicate with you and endea-
vor to interest you in the formation of
the company.
The very prosperous condition of the
two banks this city and the large
1 prices realizeAl at the recent sale of their
stocks, prov6 conclusively that the prof
its of banking alone are large. The scope
of business of Trust Company embraces
practically all the functions of National
Bank, and in addition, Trust Company
! may perform many acts that are not
within the province of National Bank.
1t is proposed that the company about
to be formed shall assume, exercise and
be invested with power to take and re-
ceive on deposit, in trust and for safe
keeping, stocks, U. S. Bonds, jewelry,
plate, money and other valuable prop
erty of every kind, upon terms to be pre-.
scribed by the bylaws of said Company;
to collect coupons of or interest upon
bonds, obligations or securities; to act as.
agents to transfer, register, countersign
and for the purchase and sale of stocks,
bonds or other obligations of any corpor-,
alton, association, municipality, state or
public authority, and to receive and man
age any sinking fund thereof; to act as
assignee, receiver, agent, executor, adj
minister or guardian and execute trusts
of every description not inconsistent
with the laws of the State of New
/ Jersey or of the United States; to become
i surety for the faithful performance
/ of the duties Of receivers, execu-~
| tors, administrators, guardians, trustees
or assignees and to execute its bond or
other proper obligations for that purpose;
to receive money on deposit to be repaid
on demand or otherwise as may be
agreed upon.by and between the deposit
| tor and the Company and with or with
out interest as they may agree; to lend
money on real and personal securities and
| to receive lawful interest for the use of
| money; to have and possess all the
powers enumerated in the first section of
| the act entitled "An act concerning cor
porations" approved April 7, 1875; to have
and possess all powers in auy part of said
last mentioned act contained, including
| the power to examine, insure and guar
antee the title to lands, and be subject to-
all the restrictions of said act. so far as
said powers and restrictions are consis-
tent with the act under which said Com
pany is to be organized, said Company
and all its officers and stockholders
therein, to exercise the powers and be-
governed by the provisions and be sub
ject to the liabilities provided in said act
emitted An act concerning corpora
+, tions"
The subscription agreement provides,
that the subscribed capital stock shall not
be less than 100000 and not more than
GonO nn0 Tho yaIua # tho StOck will ha