The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-08-14
new TRUST COMPANY.
Meeting Of the Promoters Shows
the Project to be in a
Satisfactory Con-
dition.

Members OF the committee which has
IN charge the organization of bank and
trust company. in the Bergen section,
met last night in the office of Chairman
John J. Laney and discussed their plans
for placing the proposed institution in
working condition in the near future. The
most important business transacted was
the signing by the members present of a
declaration of their intention to incorz
porate '.The Bergen Trust Company
This was done after letter had been
read from William Bettle. Commissioner
of Banking and Insurance, stating that
the name Bergen Trust Company was
not similar to that of any other con-
cern doing business in the State, and con-
sequently could be assumed by a new
company. Aa Z
The declaration is as follows:-
I'VE, the subscribers, respectfully rep
resent that we desire to establish a safe
deposit and trust company. pursuant to
AN act for the incorporation of safe de-
post and trust companies approved
April 20, 1895, and the supplements there
TO and acts amendatory thereof. under
the name of The Bergen Trust Company.
in the city of Jersey City, in the county
900, of which $4,000 IS to be paid in cash
or securities, to be approved by the Com
missioner OF Banking and Insurance be-
fore commencing business. We respect
fully show that the proposed location Of
the new company Is in the heart of what
is known as the Old Bergen Section of
Jersey City, about TWO miles from the
business centre of Jersey City proper.
There are no banking institutions OF any
nature whatsoever other than building
and loan associations, within a radius OF
about two miles of the location proposed,
to-wit: in the neighborhood sof Harrison
and Monticello avenues. The Iocanty in
question Is well built up and devoted, to
a very large extent, to commercial busi-
ness; in addition thereto, 1t including the
wealthiest residential section of the city.
The desirability of an institution pos
sessing the privileges granted by the
safe deposit and trust law u has been
mooted by the business 0nen of the com
munity for some time, and the subscrib-
ers, in investigating the sentiment of the
community, have not found a single mer-
chant or other business man otherwise
than favorably disposed toward the pro-
ject. In fact there is strong and
emphatic demand for just such an in
stitution, the facilities afforded by the
banks in the lower section of the city
being entirely inconvenient and not al
together satisfactory. We have every
confidence that the locality in question
can very successfully support a company
such as we have in view. All the lead
ing property owners and business men
of the section have sgried their inten-
ton of taking an active interest in the
enterprise
Those who signed the declaration last
night are John J. M. Laney, Chauncey
Holt, George E.. Halsey, S. T. Hunt
Myron J. Furst and John Alvin Young
Other members of the committee who
were not present last night will be re-
quired to sign before the declaration car
be forwarded to Trenton. Communica-
tions were received from C. Howard
Slater of Lafayette and Robert E. Jen-
nings of West Bergen, stating that they
cannot serve on the committee.
Mr.. Young reported that DR.. Lampson
had declined because of business engage
ments Hel was empowered to see DR.
Lampson again and try to get him to
reconsider the matter and serve Mr.
Young was also instructed to see George
Hillyer and Abraham Carpenter and en-
deavor to secure them as Lafayette rep
resentatives on the committee A letter
of New York soliciting the New York
business of the new concern The Globe
National Bank also wrote, seeking the
correspondence in that CITY,