The St. Louis Republic., 1902-03-13
MAY ESTABLISH
BRANCH OFFICE,
Union Trust Company's Quarters
Probably Will Be Retained by
Merged Institutions.

1t was reported in local financial circles
yesterday that after the consolidate OF the
| St Louis and Union Trust companies. and
the establishing OF :he central Offices OF the
. merged institution IN the present building o..
! the St Louis Trust Company. at Fourth
| and Locust streets. the present quarters OF
I the Union Trust Will be retained and a
| branch office conducted IN them
| In the branch office all manner OF busi-
ness transacted by the company. Will be
carried on, with the exception OF that con-
nected with the trust department. which
/ will be confined 10 the central office. Ii is
said that Thomas II. West. who IS St pres
ent in New York. went East partly for tho
purpose Of studying the methods used by
the large companies there which conduct
branch Offices il ths large cities In which
they operate.
The branch Office will be conducted under
the name and direct supervision of the
parent company. 1t is probable that many OF
the employ IS and several OF tile officials Ok
the Union Trust Company Will be assigned
TO duty IN the branch Office. rather than
transferred to the main ofiice. The plan 10
be followed. II ls said. will be similar 10
that OF the knickeroocksr Trust Company
fees.
one reason for conducting the branch al
Seventh ana Olive streets is the fact that
the Cnioa Trust Company owns and sue
ceSSfU.Iy operates safety Cepcs!t DEPART
ment in its basement. which wo-ld be i'm
Possible to move. The chief reason Is the
central and convenient location Of the Of
fec. Its advantages AZ a banking location
are increasing every day, with the west
ward trend of business.
The consolidated company, 1t Is said.
would be unwilling TO have any other imam
cial institution occupy the Union Trust quar-
ters in the near future. as such Institution
would be bound to acquire certain amount
of the prestige and even business Of the va
eating company. The arrang ement WILL also
For some time there has been talk Of sew
eral of the larger banks establishing
branch, in the neighborhood ot Grand ave-
nue. and Olive street and other parts Of the
city where much business Is transacted. Up
to the present however, none OF these plans
have been carried out
Short Trading Inaugurated.
Short trading in stocks and bonds was in
augurated on the st. Louis Stock Exchange
yesterday by the announcement OF PreSi-
dent J. II. Dieckman that for five minutes
after the close of each session members
would be allowed to borrow stock for short
sales. and bid on the amount OF interest TO
be charged for the use OF the same.
Heretofore the volume of this variety OF
trading has been small. and the general
belief among local brokers is that no great
amount OF it will De done even under the
new rule. 4 few shares of Transit stock
were the initial borrowings under the resu-
iation. For this per cent was charged.
Commonwealth Payment Due.
The second payment of . per cent on the
new Commonwealth stock is due anu pay
able to-day. II was ruInored yesterday that
oyertures had been made by the Missouri
Trust Company TO the Commonwealth look
ing toward consolidation OF the two com
consolidation between the Missouri and LIN
coin Trust companies