Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-10
HAVE A NEW TRUST COMPANY.
One TO Begin Business Here-Books
Open for stock

Il
The initial step in putting into opera
ton the Richmond Trust and Safe-De-
post Company. to which the General AS
sembly recently granted a charter, was
taken yesterday afternoon at a meeting
of the corporators. held in the banking
house Of John L. Williams & Sons.
| Hon. w. Josiah Leake presided over the
meeting, and Mr. Henry l.. Cabel acted
as secretary. A resolution was passed APP
pointing Messrs. James w. Allison, f.
| w. Scott, and Henry L. Cabell commit
tee OF three TO open books of subscription
| to the capital stock of the company, ten
days notice being required under the
charter. the books of subscription TO open
on Wednesday, February %, 1898, and
close on Saturday. the 18th instant. 1t
is proposed that the capital stock shall
not be less than 100000 nor more than
| $500 900, although the charter authorizes
the stock to be increased to 100000.
The corporators say that the business
of the company will be conducted strictly
on trust-company lines, and that they do
not propose to engage in the mercantile
banking business 1t is also understood
that they will not go on security bonds
except in cases where the estate or fund
involved is directly under their charge or
supervision. The company Will make a
speciality of the execution of trusts OF
every description, including the admins
traton of estates, and is especially en-
powered by its charter to act as receiver,
administrator assignee, executor, and
guardian and is especially designated as
depository for funds under the Juris-
diction Of any court in Virginia, or the
United states or of any Of the States
and Territories
Trust companies i'm New York, Balti-
more, and other places have in recent
years been the most profitable financial
institutions, the stock of many of them
ranging from 800 to 81 600 per share on a
par of 800. An interesting table was sub
mitted to the meeting yesterday showing
the condition and earnings Of the trust
companies in New York and Baltimore.
and the opinion was freely expressed
that there was no reason why the Rich
mond corporation properly conducted,
should not have it's full share in this
lucrative business.
The charter to this company, which Is
one OF the most important granted by the
present General Assembly, was approved
by the Governor on Monday. Its cor
porators embrace some sixteen represen-
tative men. including prominent financiers
in Baltimore and New York, as well as
in Richmond. They are: Hon. Joseph r..
Willard. of Fairfax county; Hon. W..
Josiah Leake. John SHELTON Williams,
James w. Allison, n. w. Bowe. John W.
Rothert. William r. Trigg, Hon. VIII
liam Writ Henry, Henry L. Cabell Frank
A Davenport. F. w. Scott w. Nj. Ha-
bliston. and James Lewis Anderson, or
this city; Robert c. Davidson, president
OF the Baltimore Trust and Guarantee
Company. of Baltimore, and ex-Mayor OF
the city Of Baltimore; j. William hidden
dorf. OF Middendorf, Oliver & Co., bank
ers and vice-president of the Georgia
and Alabama railway of Baltimore, and
William f. Cochran, of New York. Mr..
Cochran is a director in the Western
Union Telegraph Company and also in the
Georgia and Alabama railway, in which
many Richmond people are interested,
and is distinguished alike for his wealth,
business ability. and philanthropy.