The Jersey City news., 1902-04-28
SUCCESS ASSURED
New Bergen and Lafayette
Trust Company Begins
Business Most
Auspiciously.
MANY ACCOUNTS OPENED
Handsome New Banking
Building Will Be Erected
on Monticello Avenue.


ut will be a great success" said Sec
retary and Treasurer George c. Smith, of
the new Bergen and Lafayette Trust Conn
pany this morning. several hours after
the Institution had opened for business az
its handsomely furnished temporary
quarters, No. 96 Monticello avenue Sec
retary Smith was resting for a few mo-
ments to regain his breath after the rush
of the opening hours.
"The indications point to great results,
said Mr. Smith enthusiastically. I feei
sure that our efforts will meet with all
the success we anticipate.
When the doors of the new bank We're
thrown open shortly before n-ne o'clock,
twenty people were lined up in front OF
the receiving teller's window. Secretars
Smith was behind the window. Inere
was a rush to see who would be the first
depositor A little boy, Eugene A. Wai-
ton, gained the first place in line. Right
behind him was ten year old Irene j.
Flanagan. Mr. Smith and his assistant,
MIR James Harrison, hustled like beavers
to handle the new accounts. There were
lots of work for them, but the work was
done quickly and accurately. After the
big line of new depositors had been tax
en- care of others came in and up to noon
about fifty new accounts were opened.
A.. Of the officers were on hand .--is
morning. They were immensely pleased
with the opening results. Vice Presiden-
John p Landrine said that the receipts
exceeded by far what had been anticl-
pated.
Secretary Smith was the recipient of
beautiful horseshoe of roses. These were
sent by friend For the present in or
der to curtail expenses, Mr.. Smith and
Mr.. Harrison will look after all the woik
of the new institution. Four clerks and
bookkeepers have been engaged, and
when the occasion demands, Secretary
Smith will send for these men to take up
the work at the new institution.
Merchants and business men on the
Heights were pleased this morning when
the new bank was opened. They express
ed themselves as being glad that they
could become depositors on the Heights
in order to obviate the necessity OF
long Journey down town when they wish
ed to transact banking business Mer-
chants from Bergen and Lafayette were
among the early depositors. Judging from
the interest displayed, the new institution
will become one of the most successful
banking houses in the city. The names or
the incorporators and officers inspire con-
fidence, and it is common gossip that the
bank will be doing a tremendous business
at the end of the year.
The new bank will do a general bank
ing business It starts with capital OF
$3.50, co., Interest atAhe rate of two per
cent. per annum will be paid on ali u-ily
balances of S1O0 and over subject to check
and will be credited monthly. Deposits
of one dollar and upward will be received
Interest on deposits at the rate of four
per cent will be paid on sums from one
to a thousand dollars, and three and one
half per cent. on sums over one thousand
to three thousand dollars Money will be
loaned on bond and mortgages and ap-
proved securities. All trusts known to
earn will be executed, and letters of cred
it issued available in all parts of the
world. The bank will also purchase prom
issory notes and bills of exchange.
The temporary quarters will be occu-
pied until the proposed new building has
been completed. A fine site has been pur-
chased at Monticello avenue and Brink
erhoff street, on which a building costing
at least Ss5, 900 will be erected. Work will
be started almost Immediately.
This structure win be Of stone and fitted
up with all the modern improvements
Safe deposit and storage vaults will be
put in and the institution will be up-to-
date in every particular
People may rent boxes in the vaults for
the storage of valuables and papers and
these vaults will be strictly ireproof
Tho incorporators of the new company
are:-E. f. C. Young, James e. Hulshizer,
William C. Heppenheimer, Henry Mehl.
Jr.. A. P. Hexamer, Edward Russ and
William NJ. Cahill
The officers and directors are:-Presi-
dent, William c. Heppenheimer; Vice
President. John P. Landrine; Secretary
and Treasurer George c. smith; Directors
William c. Heppenheimer, E. F. c.
Young ] E. Hulshizer. John P. I.andrine,
c. H. s.ater. Livingston Clifford Isaac
Vanderbeek Daniel E. C.eary, J. H. Bum
sted, Jr., William NJ. CahilL John Mehl,
Edward Russ, A. P. Hexamer and Henry
Mehi.