The Washington times., 1911-02-12

1t is uniformly admitted that the vol
ume Of clearings indicate the degree Of
commercial prosperity with reasonable
accuracy. Not only the clearings Of a
city, but Of the nation as well.
Washington clearings have moved
from 81, s,764,060 in January, 1908, to sS1,
SR,2n for January fof 1911, a gain OF
| over 100000 in three years
There is no denying the story told by
the tale Of the clearings Washington
| is growing and will continue to grow.
II Is not manufacturing center, t.
any great extent, nor yet. distribut-
ing CENTER but as a commercial city
with a growing population to cater to.
with enormous development on home
building lines and improvement in the
business section, it is certainly max
rapid strides.
The example set by the First National
Bank Of Chicago, in organizing the
First Trust & Savings Bank, with the
stock prorated among the shareholders
Of the parent organization is becoming
quite fashionable with other Chicago
banking Institutions.
As matter of fact the phenomenal
success that has attended the First
Trust & Savings Bank has been an ir-
resistible temptation to other national
banks to follow suit. 1t was organized
in 1903. Its capital today is $3.50, 200,
with equal surplus, $464.14S undivided
profits and nearly $50,0O0.O0O deposits.
James B. Forgan. is president Of both
institutions, but the rest of the officials,
other than the directors, are entirely
different from the roster of the First
National 1t is housed in the basement
Of the First National Bank building.
Since the consolidation of the Bank
ers' National and the Commercial Ma
tional, and the formation later of the
Continental-Co National, the
great institution. over which George
NJ. Reynolds presides, the latter has
organized the Continental Trust & Saw
ings Bank and is developing It along the
First Trust & Savings Bank lines.
Now the Fort Dearborn National has
aims and objects OF like character. 1t
has purchased a great eighteen-story
banking building and will move into 1t.
thereafter organizing the
Fort Dearborn Trust & Savings Bank
with a capital OF 10000, the vice presi- |
dent becoming president of the child" |
The First Trust & Savings Bank of !
Milwaukee will be grown4up Of the |
lTSI Natlonal OF that city. lThe bank
bought control Of two trust companies, !
consolidated and gave them a name.
The trend to the trust company con-
1ection is growing all over the country.
The broader charter of the trust conn.,
panies and functions that they may
Undertake offers larger means for thel
employment Of funds to advantage.
Trust companies may loan on real es-l
ate, own 1t, accept trusts, administer
on estates. and loan funds closer andl
n larger amounts than banks operatingI
Inder the national banking act.
The affiliations between the CONNER
,ial National Bank and the United States
Trust Company OF Washington will be
urther strengthened by the election to-
morrow afternoon Of Eldredge z. Jor-I
Ian, vice president Of the Commercial
National, as president of the trust COM
any.
Several members of the board of di-
ectors Of one institution are also direc-
ors of the other.
Announcement of definite plans In
with recent and soon-to-beI
hanges will probably be made in thel
ear future.
The close affiliation between the
dggs National Bank and its semi neigh
or, the American Security and Trust
ompany, has long been understood inI
Washington, many of the directors ofl
ne being directors of the other as well. ,