The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1906-02-03
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gRll.lWD.ING /
PRESIDENT CURTIS TELLS
GERS THAT III Is TINis 10
WAKE lJp.

NEW YORK. Fed. 2.r-banRs, S92aGlSM
I and National, are finding Il hard WORK
| to keep up with The bustness-gettHng
pace set by the trust companies 'rht
latest evidences d this Is the movement
set on foot by the New York stats'
Bankers Association 10 amend The
state and Federal laws so as q permit
trust departments in national AND
State banks
Alfred H. Curtis, president oI thsi
National Bank Of North America and
of the Bankers Association, strongly
supported thfs movement in an ADDRESS.
at recent meeting. we do not @isl
to take any unfair advantage 81 pnf4
friends in the same line of business,
he said. but we do demand eqpalla@s
for banks called National and bic
and banks called trust compa4i II
is high time that our Rip van VI isls.
awakened"
Trust companies are by law gi$snat
much wider field OF operations than
the banks have and they are relieved
from reserve and other requirements
which enable them to make very prof
liable use OF their resources. Theold
line bankers. judging from the action
of the New York association, have
come to the conclusion that the only
way Of keeping up with the trust com
panies is to go into the trust business
failing the attempt to place the newer
style institutions under the same ragn-
latioRs that govern the banks
New York trust comuanies now hays
over billion OF deposits and are c1a-
stantly reaching out after more ~
search for new business other than
mail accounts the really pushfii trust
companies do not stop when they have
covered their own Immediate terrific
ries. They go anywhere and every
where for business. Some OF them
have specialized their activities 50 a.
to get hold OF a lions share Of bust
ness in particular lines. The slississ
sippi Valley Trust Co! Of st. Louis, %.
instance, takes a leading part In finartS
cling new telephone lines and has
4. q "
not only built up It's own business p
this way. but has contributed largely
to the development of means Of com
muntcatlon, especially in the middle
west
The Mutual Alliance OF New York
has made itself an important factor IN (
financing the cotton crop. Anothsr
company, the Eastern, makes. a special.
ty OF handling the finances Of naval
officers. The Home Trust Company
Of Brooklyn caters TO scandinavian
languages and provides facilities
pecially adapted for handling the local
and foreign business Of IT'S Swedish
-
Norwegian and Danish customers.
This same Brooklyn institution has
organized an Investment bureau whsshl
accepts any amount over $500, eGnIl
blnes these small investments fHsg
high class mortgages. and divides ~
the. return, less one.half per cent ots
more. which is better than the sayingS
bank can do Millions have hem
drawn from savings banks to trqst
companies in this and other ways ~
which the concerns with the broader
range Of activity offer customers ts
best service.
Trust company advertising Is ar
other great factor in tile expansion 81 (
these institutions. They invade the
newspapers and street cars with ~
gressive announcements which cole
plotely oyershadow the modest ads II
the most conservative banks, sMahs,s
Your WILT Costs Nothing II We AIe3i
Named as Executor a sample q
this kind Of advertising,
Tie highest paid experts are m
gagged by the trust companies to pre
pare elaborate booklets, costing y
much as % cents each, and settins
forth in the most convincing nannes
the many ways In which the BLANK
Trust Co, can serve you. 1t Is az.
safest executor and guardian. Il VIII
invest your money pay your taxes md
gas bills, and collect your checks for
almost nothing, II has Ladies' Pm
lor, with a maid in attendance, q ia q
erence lIbrary-in Snort, every mbll
ern convenience"
II you wish, the Np'to.dsies
company II you wish, the lp-to-date
trust company will sond a polite yUaiills
man 10 your office Gerry day to EeE
your deposit, thus saving you min
to the bank The simple slot haul.
in which the leposItor was suppose II
to accumulate money for ultimail
deposit in the trust company has bepil
superseded by the elaborate hrOnzGs,
affairs. with clock III the front. Any