The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-17
TIL s25o,ooo CAPITAL.
THE SAVANNAH. TRUST COMPANY
WILL COMMENCE BUSINESS.

on pfAA 80 AhC me-
chants National Bank-Obiects for
which the Trust Company Has
Been Formed-Those Who Have Al
ready Subscribed to stOck-NOrth-
ern and Savannah Capitalists Rep
resented.
Books of subscription to the capital
stock of the Savannah Trust Company
will be opened at 10 O'Clock Monday
morning, April 2s, at the Merchants
National Bank, They will remain open
until o'clock on Thursday, May 1,
but the right is reserved TO close the
books at any time. Ten per cent. Of
the amount of the subscription will be
paid in cash at the time the subscrip-
tion is made.
A special notice, setting forth these
facts, appears in to-day's issue of the
Morning News. 1t is signed by Messrs.
w. w. Mackall,. George ]. Baldwin.
Charles A. Shearson, Henry c. Cum
ningham, Spencer P. Shotter and j..
Randolph Anderson, incorporators.
The prospectus of the company sets
forth the commercial advantages Sa-
vannah enjoys, and explains why it
should be attractive for investments.
The reports showing the volume of
business done during 1901 in the sew
eral most important lines are present.
ed, and the growing industrial devel-
opment is mentioned.
The Savannah Trust Company exists
hN Irir Of So4 e -,
Legislature; it's charter powers are
ample, and its corporate privileges are
all that could be desired to enable it to
conduct a modern trust company bust
ness. Among it's powers and privileges
are: The power to purchase, invest in
and sell stocks, bonds, bills of ex-
change, mortgages and other securi-
ties; the power to borrow money or
securities for money, and to receive
the same on deposit or for investment;
the power to make loans and to dis
count notes and bills upon security of
stocks and bonds, mortgages or con-
Teyances of real estate; the power to
accept the office and appointment of
executor, guardian, agent, assignee,
receiver or trustee of any kind what
SONNCIB WHelHeT SuCn ONCE OF appoint
ment be conferred by al court, a cor
poration or person, the stock, proper
ty and assets of the company to be
accepted as the security intended in all
cases where bonds and securities are
required by law, and no other bond be-
ing required; and the power to act as
fiscal agent for municipalities and cor
porations, and as agent for issuing,
registering and countersigning bonds
and certificates of stock, and for pay
ing coupons.
The charter of the company permits
1t to commence business when $3.50, 900
has been subscribed, but it is proposed
to ask for subscriptions to the extent
of 100000 The charter authorizes the
capital to be Increased from time to
time to $1,000,00O There is no personal
liability on stockholders beyond the
aomunt of their actual subscriptions.
The charter is perpetual
The chief purpose of the company
will be to assist in fostering and en-
larging the DEVELOPMENT which is go
ing on in the South Atlantic States,
and to this end it Will seek to bring
Savannah more prominently forward
as financial center. Its largest stock
holders will be men who have become
identified with this great development,
and its object will be to cooperate
with the great monied institutions of
the North which have contributed so
largely to the prosperity of the South
The trust company will in no proper
sense be a competitor of the local
banks, but on the contrary it will prove
a valuable aid to them in bringing to
their attention channels for profitable
investment
The company will chiefly address it,
self to the administration and man.
a yaY IF nf oil IND =
will act as agent in bringing capital
lists together who are seeking invest
ments, and as fiscal agent for estates,
municipalities and corporations. 1t will
act as trustee for mortgages and as
transfer agent and registrar of stocks
and bonds. 1t will receive money on
deposit and under certain conditions
will allow interest thereon, the rate of
interest depending upon the amount
will do safe deposit bust
ness and will lend money on
high grade securities, first-class bonds
and stocks being preferred to CONNER
cial paper. The compan,' does not ex,
pect TO do a mercantile banking bust
ness or TO receive DEPOSITS under any
engagement to allow line of discounts
to the depositor.
The company viii give active attep-
ZION TO the pTOnOlloN % SOuHu anu COIl-
sentative enterprises, and the forma-
ton of syndlcates for underwriting ell
gagements of the most desirable kind.
Among those who have all eady sig
nified their intention to subscribe to
the stock of the company are r. G. Err
win, president of the Plant System;
Morton f. Plant, first vice president
of the Plant System; Frank Q. Brown.
second vice president of the Plant Sys-
tenn; Nj. ]. OBrien, president of the
Southern Express Company; John Skcl-
ton Williams. president vi the Seaboari
Air Line Rail vl~. .Atrg" i. Baldw..:,
president of the Savannah Electric
Company; Joseph Huh, president of the
Prairie Pebble Phosphate Co., SaVan-
nah; Spencer P Shotter, president of
the S. p. Shooter Company: Herman
Myers, president of the National Bank
of Savannah; ]. A. G. Carson, presi-
dent of the Merchants National Bank
of Savannah: William A. Marburg, vice
president of the Continental Trust
Company. Baltimore; ] r. Minis, of
t. r. Minis & Co., Savannah, ship
brokers; C. A. Shearson, Savannah,
cotton exporter: ] !. P. Williams of the
]. P. Williams Company, Savannah;
j. w Middendorf, of j. William Mid
dendorf & Cos, bankers, Baltimore,
Md; Stone & Webster, electrical en-
gineers. Boston; Ernst Thalman, of
Ladenburg, Thalman & Co., bankers,
New York; w. w. Osborne attorney
at-law, Savannah; Alexander R. Law
ton. of Lawtonf & Cunningham, general
counsel Central of Georgia Railway
Company. Savannah and w w.
MaCkall president of the Southern In