Los Angeles herald., 1907-04-10
TRUST COMPANY
AFFAIRS NOTED
EVERY FACILITY OF MODERN
BANKING AFFORDED
Development of These Institutions is
Of Comparatively Recent Date.
Repositories Of Business
Cares

Latest obtainable statistics show the
aggregate resources of the trust COM
panies of the United States to be large
ly in excess of $3, $50, 100000, or more
than 25 per cent of the banking power
of the republic, and to all intents and
purposes practically 10 per cent of the
banking power of the world.
When IL is remembered that the de-
velopment of trust companies is of COM
paratively recent date, not much more
than twenty-six years for the Oldest,
and less than a dozen years for the
great majority, 1T becomes very inter-
esting to the general public to inquire
what 1t Is that trust companies have
to offer in comparison with other bank
ing institutions that is accountable for
so great popularity and the accumu-
lation of so vast an amount of business
In so short a period of time.
The modern trust company, with its
full complement of well equipped de-
partments. banking, trust, bond and
safe deposit, is the most highly devel-
oped type OF banking institutions so
far produced.
for the services performed by trust
companies and in confning the powers
by legal enactment necessary for the
performance of their functions, have
public by requiring rigid inspection by
state officials and Insisting upon ample
capital and ample reserve.
Modern Banking Facilities
The well equipped trust company of
fers to its. patrons every facility of mod
ern banking. 1t usually pays interest
on deposits, and in addition to the ordi-
nary banking functions, through its
trust and bond departments, 1T per-
forms a host of services accurately,
promptly and with absolute RESPONSE
bility.
1t, acts as executor of wills. as ad-
ministrator of estates. as guardian of
the estates of minors and insane per-
sons, as assignee receiver trustee.
as escrow holder, and, in fact, in every
capacity where trust and confidence are
required in the care of handling of
property or money.
1t acts as agent and adviser in the
investment of money and the care of
property. 1t employs experts, skilled
accountants and attorneys to safeguard
the interests of it's patrons.
To become the client of a well or
ganized trust company is to set in mo-
tion for the accomplishment of given
object all the accomplished knowledge,
experience and power of organized eff
fort which constitute the machinery of
In word, trust companies have come
to be repositories of many business
cares heretofore borne by individuals.
money for persons not themselves
skilled or conversant with values has
come to be an important feature of the
business of trust companies.
The good offices of the trust company
are convenient in the providing of an
nuities for charities, or for the mainte-
nance of minors or other relatives. In
every case where 1t becomes necessary
for one person to repose trust or conf
dence in another for the holding, dis
tributing or managing of property or
money the services of the trust COM
pany are available,
Banking Business Circumscribed
The business of an ordinary bank Is
circumscribed in its relation to men. 1t
has to do only with adults, and persons
capable of attending to their own af-
fairs. The period from the coming of
age to the death of client measures
the activity of a bank. Not so the trust
company. On the other hand, in it's
fiducary capacity 1t takes charge of the
individual at birth, fosters his estate
through minority, takes charge of him
through life, TO death, and, splicing in
an endless cable the lives of one gen
GRAFTON with another, carries on the
business of the family in an unbroken
chain Always alert, always thought
full. as it is compelled to be. the trust
company gives its disintereSted advice,
and is an impersonal custodian of fam
lily secrets 1t assumes the care of the
wayward, the insane the profigate or
the incompetent, and the responsible
ties which are a tax upon the lives of
individuals become to it, without trou-
BILE, parts of its system; and where
property is involved, birth, coming of
age, marriage and death, and through
all time between, the trust company is
an Invaluable counselor and faithful