The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
IovIA LOAN AND TRUST co BUILDING, WINsToN-sALENT.

/ banks, instead of rival as is. sometimes
imagined 1t aids them in increasing their
available capital, for trust companies are
frequently the best depositors the banks
have Where deposits are received by
trust companies they usually come from
a class that the banks cannot get or do
not want, being made up of savings and
funds waiting TOR Investments, con-
stituting a class of inactive accounts
which often are not pronGable and some
times are troublesome to the banks, but
which can be handled to advantage, I'M
der the rules OF trust companies
The largest and most stable element of
wealth III any community beng real
estate, and banks decl.4Ing, generally to
make real estate loans, and National
banks peing prohibited from doing so
for any present or future debt, the trust
company becomes or special interest to
the real estate owner who wishes to cult
vate business relations with an institution
which, by the scope OF its organization,
enables INN to use his real estate in
borrowing money.
The superiority of trust companies to
individuals Is easily demonstrate. Take,
for example, the disposition OF persons
estate under a will. In determining this,
the makers first thought is to secure
some one who will execute its provisions
fully according to his intent Naturally
he looks among his friends or relatives
to find one who has the ability required
and whom he can trust. 1n ninety nine
cases out of a hundred he will pick out
a man who has managed his own at
fairs successfully, and the secret of whose
success lies IN his undivided attention to
them. He is competent because he gives
his whole onne TO his own business, and
he has his hands full II he accepts the
trust he enters upon a new field and has
to give time and thought to it, which
he can i'll spare, and for which he feels
he should be well paid. He would be
likely only to accept such work in case
of a large estate. where it might not be
a serious objection if the costs of add
ministration we're large. Small estates
he could not afford to bother with. But
surprising he consents to act, the maker
of the will has no assurance that he will
live to do SO. He may be dead in a
month or six months ne may lose his
health and be compelled to remove TO
distant State. Then who will take his
place? Probably some one appointed by
the court who may be totally unknown
to the maker of the will, or who may
be the last person he would have selected
to administer his affairs. Then events
may occur which will require the advanc-
ing of money to the estate; which may
demand its careful nursing for several
years, in way that the individual cxecu
tor might be unable or unwilling to do.
one of the most successful companies in
the country, the Fidelity of Louisville, /
KY, ascribes much Of its prosperity to
the reputation it gained for skilful man
agement of its first estate, where a promi-
nent citizen left his property so incum
bered that it was believed it would not
pay his debts, but which the company
so conserved and improved as TO leave
handsome sum for his heirs. Few indi
vidual executors could have done it.
In opposition to this is the permanence
Of the trust company. 1t is corpora
ton created by the State and it's life
never ends The maker of the will can
rely upon this with almost absolute GER
tainty, for while it is possible that trust