The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-08-26
TRUST COMPANY SECTION
OF the Bankers Association Fur
nishes Suggestive Papers.

| nlshes suggestive Papers.
| Denver, Colo, Aug. 24.-The second an
nual meeting of the American Bankers
association was held at the Denver club
| today. In the absence Of Chairman Fran
cts Bangs of New York the meeting was
called to order by Breckenridge Jones OF
ST.. Louis, cha;rmane of the executive
committee.
After the report of the executive COM
mittee a technical papa on TINS Duties
| and Liabilities of Trust Companies Act
ing as Transfer Agents and Registrars"
was read by Felix Rackeman. counsel for
the Old Colony Trust company of Boston
Many legal problems were carefully con-
sidered and elucidated
This was followed by five minute talks
on why Trust Companies are Better
Equipped than Individuals TO Act in
Trust Capacities; the Nature and Extent
of Their Duties"
Arthur Heurtley, secretary Of the North
ern Trust company, Chicago, spoke on
Trust companies as trustees under pri-
vate agreement. The points of superiority
Of trust companies over individual trus-
tees given were stability, security, expert
ence and capability.
F. B. Gibson in treating the matter of
Trust Companies as Executors and Ad-
mlnistrators, said:
1--WE need not look far for the reason
why trust companies are the best admin
istrators. They have large capital and a
cons artly increasing surplus. Their in
ves.ments are conservative and secure; no
sort of speculation enters into their bust
ness affairs; fidelity and conservatism are
cardinal principles governing all their acts
AMI their officers are trained and expert
enced in the discharge of their duties"
Anton G. Hodenpy spoke of Trust Com
panies as Guardians Of Minors and In
competent Persons Individual guard
ians, he said, caused trouble by mingling
their own funds with those of their
wards. neglected their duties on account
of personal business, made poor invest
ments, became irresponsible or died. or
were biased in judgment by their feelings.
These faults could never be charged TO
the trust companies.
John H. Holiday, president Of the Union
Trust company. of Indianapolis. spoke OF
Trust Companies as Assignees and Re
ceivers." He said:
ITO sum up, the trust company is su-
perior to the individual in the capacity OF
assignee and receiver because it is perm
anent and responsible; it represents or
gained ability and experience; it has f.
nancial strength; it works more econoIn-
ically and quickly; it has standing and
commands respect"
W E. Fisse made much the same argu-
ment in favor Of The Trust Company as
Trustee Under Will"
Frederick Vierling. trust Officer OF he
Mississippi Valley Trust company OF st.
Louis. read an exhaustive paper on The
in estn'n. Of Trust Funds by Trust Com
panies"
Tha election OF officers was then taken
UP. the follcwIng beng chosen;
Cha man-5,rsel1iIri ridge Jones, Missis-
sippi Valley TIUsr company. ST. Louis.
Vice Ckairman-Otto Barnard. Cont;n-
enta- Trust sompany. New York
Chairman executive committee-Anton /
G. Rodenpy, Michigan Trust company. /
Grand Rapids
Secretary-Arthur Heurtley. Northern /
gust company. Chicago.
Executive committeeman for three years /
--Ott3 Barnard, Continental Trust com !
pany. New York: 2. 3. Gibson. In.zrna- i
t.onaI Trust company, Denver. Arthur 4
Heurtley. Northern Trust company. Chi I
cago.
Executive committeeman tor one year
f. pace OF Brsckiur1ege Jones. res. gned- 4
joan H Holiday. Union Trust company. (
~ r-= -of.s