Los Angeles herald., 1907-05-19
NEW INSTITUTION
IN Los ANGELES
L. L. ELLIOTT, PRESIDENT AND
MANAGER
capitalization 100000, Surplus $685.
ooo-spIendid Modern Equipment
and Furnishings In the Collins
Building on Third Street

Ing, between Broadway and Hill, opened
its doors for business few days ago.
The Columbia is one of the best
equipped banking institutions in Los
Angeles with regard to the practical
ends of the concern, the facilities for
the dispatch of business and the con-
venience of customers, both men and
women.
The bank throughout is finished in
polished mahogany with each depart
ment luXuriously furnished. The wo-
mans department, which attracts at
tention on entering the bank, has been
furnished with cushioned wall seats,
telephones and desks for the convent
ence and comfort of patrons; private
offices, etc.
AT. the rear of the bank is balcony
for the men patrons where provision is
made for telephones, desks, writing ma
terial etc.
Every detail in connection with trust
and banking business seems to have
been attended to.
Four Complete Departments
There are practically four depart
ments, the most important being the
trust department. This Is presided
over by Fred B. Braden. Mr.. Braden
occupied similar position with the
Merchants Trust company. He is an
attorney, a graduate Of the Harvard
Law school and is thoroughly versed
in all features of the trust business.
The trust department includes every
possible feature pertaining to the trust
business. In this department the COM
pany acts as an agency for the trans
fer of stock; for the registration of
stocks md bonds, as trustee for bond
issues, for ordinary loans, and for syn
dicates that wish to transfer the title
to the company Further, the trust
department holds the, title to property
for the convenience of the owners; 1t
holds the title of subdivisions; acts as
guardian, executor and administrator,
receiver in bankruptcy, receiver for
the benefit of creditors; it undertakes
and manages property for creditors;
manages property in behalf of owners;
handles property for investment, and
acts as escrow holder.
The bond department is in charge OF
Clifford r. Horne, who was formerly
the bond manager for the Merchants
Trust company. Mr. Horne is a capa-
BILE young man and has devoted much
study to the work for which he is
responsible.
Banking Advantages
The purely banking department
is completely equipped for the
transaction Of a general banking busi-
ness. The Columbia makes the claim
that it can make better arrange
ment for its customers through a 3
per cent account, which has been es-
tablished, than any other bank in the
city. H. NJ. Binford Is the treasurer
and L. D. Williams assistant treasur-
er. Mr.. Binford has had many years
experience in the handling Of money,
while Mr.. Williams, who occupied a
similar position with the Merchants
Trust company, is trained banker
from the ground up. Before coming
to Los Angeles he was connected with
several of the strongest fanking insti-
tutions in the east.
The woman's department is under
the management of Mrs. Pearl Adams
Spaulding, who occupied similar posi-
ton in the Merchants Trust company.
Mrs Spaulding has had twenty years
experience in law, banking and realty,
and before coming to Los Angeles few
years ago was with some af the
strongest financial institutions in large
cities of the east. Mrs. Spaulding is
regarded as the most capable woman in
her line west of the Rockies.
Officers and Directors
The officers and directors of the
Columbia Trust company are
President-L l.. Elliott.
Vice presidents-Edward D. Silent and
William Rhodes Hervey.
Secretary and trust officer-F. B.
Braden.
Treasurer-H. NJ Binford.
With the above and the following
comprise the directorate: r. J. Waters,
president of the Citizens National bank;
Walter Everett, a large railroad and
lumber man; w. S. Collins, owner of
the Collins building; Horace o. Smith,
Frank Thomas, an attorney, man
ager of the Valvoline Oil company,
and Lester l.. Robinson, secretary of
the Hughes Manufacturing and Lum-
ber company.
Mr.. Elliott, who is president of
the Columbia Trust company was the
founder and the former manager of the
Merchants Trust company, and is con-
sidered one of the shrewdest and safest
banking managers in the country.
The institution starts off with the most
promising future. Weeks before the
doors were opened customers began
to invade Mr.. Elliott to attend to busi-
ness for them, and new accounts are
opened every day.
The paid up capital of the company
is 100000, with $25,0OO surplus.
Included in the staff of the company
are H.. VI. DeTpy, lOTIueTly HedQ DOCK
keeper with the Merchants Trust COM
pany, who occupies similar position
with the Columbia; j. S. King is the
outside man, having oc eupied the same
position until recently with the Mer-
chants Trust company; Miss M. e.
Spence is the head stenographer, having
held the same position with the Mer-
chants Trust company; Miss Clemen-
tine NJ. Ashley will have charge of the
information bureau and advertising.
She also was formerly with the Mer-
chants Trust company in a similar po-
sition. M. A. Baird is paying teller
William V. Peirce is note teller, Edward
Dietrich is bookkeeper; c. e. Daven-
port, trust department teller; G. S.
Adamson, statisticfan; Charles r.
Thomas, and Miss Edith H. Mather.
mi snr AMn EInE rVhAAO