The Waxahachie daily light. [volume] (Waxahachie, Tex.) 1894-current, 1908-12-19
RAPID RISE Of ELLIS COUNT|Ah


tions from his friends and associates.
Settlement of the problem Of fifl-
Ing the vacancy ends the rumOrs
that Mr.. George B. Cortelyou might
resign from the cabinet to become
head OF the Union Trust company.
who will be head of the Guaranty
Trust company, succeeding Mr.. Cas-
ties. has not yet been determined. In
some quarters it was said that either
Alexander J. Hemphill or George
Carr Henry, vice president, would
be chosen. Another rumor had II
that Mr. Hemphill would go with
Mr.. Castles to the Union Trust COM
pany. .esa
Mr.. Castles resignation takes eff
feet not later than December 81,
and he will take up his duties early
in January with the Union Trust. IN
speaking of his new office yester-
day Mr.. Castles said: 81 wish to de-
ny emphatically that there has been
any friction between the directors
of the Guaranty Trust company and
myself. Our relations have been har-
monious. I could not accept the new
position without first resigning the
old that was all
There are seventeen directors OF
the Guaranty Trust company, and OF
these seven had comprised an execu-
tive committee until Mr.. Castles
resignation. E. H. Hartman and
George F. Baker, directors, were ad-
ded TO the executive committee yes
terday.
During his incumbency in the
Guaranty Trust company Mr.. Castles
has attracted attention by his sue
cessful methods During the panic
last fall the company was able 70
extend to depositors its usual faclll-
ties. and that this was appreciated
was shown by the fact that after
January /, 1908, new business came
in, so that deposits increased from
about $30,00O,000 to more than
SIC, OOO, 900. Mr.. Castles was mem
Der OF the trust companies commit
tee appointed during the panic to as
sist companies in need of aid. He
was later chosen chairman OF the
Joint committee on reorganization
by the bondholders' committee OF
| the Metropolitan Street Railway
! company
! MI. ShSllSS NahlS iloiiA N-AS>S'
! where he was merchant, being a
partner in the firm of Cameron, cas-
Ties & Story. In New Orleans, IN
1882, he was chosen temporary pres
| ident of the Southern National BANK
of that city While in this position
! the bank was rejuyenated and us
deposits increased fivefold. In 1875
; the bank was merged with the HI
| hernia National bank, Mr.. Castles
taking the presidency of the COM
bined institutions. In the period from
1888 to 1902 the Hibernia bank
grew rapidly, and in the latter year
| was merged with the Southern Trust
and Banking company, the new con-
Germ being called the Hibernia Bank
| and Trust company, with S1,Ooo,0oo
CAPITAL and s2,000,000 surplus. De-
posits increased 100 per cent In the
| first year.
In 1904 Mr.. Castles became presl-
dent of the Guaranty Trust company
! since which time the deposits have
/ increased from $34,000,00O TO more
than 100000, and after paying
the usual dividends 100000 has
been added to the surplus.
The Union Trust company Is al
No. 80 Broadway. 1t was organized
In 1854 and has a capital of $1,O0o,-
900. Its surplus and undivided prof
it's are $S,180,0O0, and, according
| to the last report to the state bank
ing department, has 53,387,0 900 de-
poslts and s36,700,000 loans. 1t pays
/ annual dividends at the rate OF o0
! per cent.
James T. Woodward. president OF
1.-The Hanover National bank; w. EN-
len Roosevelt and Charles Fl. Tweed
composed the committee OF trustees
| which had the choice Of president IN
charge Augustus w. Kelley, John
v. 3. Thayer and Edward n. Mer
rift are vice presidents.