The Birmingham age-herald., 1911-08-29
TRUST COMPANY ORGANIZED WITH S45O,OOO CAPITAL Realty Trust Go. Begins Business With $150,000
 Paid in Capital JOHN H. FRYE IS
 HEAD OF CONCERN Will Operate Separately From the Traders National Bank, But the
 Same Interests Control
 Both Institutions

| The organization of the Realty Trust
 company was announced yesterday. The new concern was organized with John H. Frye as president, and it proposes to do I general trust business, which the | Traders National bank of which MT. Frye is president, cannot do under its present charter The trust company is capitalized at s450,OOO. of which sum it is proposed to start with s150,oO0 paid in. | Mr. Frye said the business would be start ed on the most cautious and conservative basis and as the bushes demands more | money the authorized capital will be added to that paid in at the beginning. | The officers, in addition to MT Frye, include E. L. Turner of Anniston, vice president He is a director in the First National bank of Anniston and is re- tired capitalist. w. A. Lester is treas l urer, while the three above officers con sttute the board of directors with the
 addition of w. H. Duran of the North
 Birmingham Land company; c. s. Bissell 1 president of the Black Diamond Coal company Ralph c. Lupton of Whining ton, Del To the directory there is to be
 added within short time other promi-
 nent citizens of this city. according to Mr.
 Frye
 The announcement of MT. Frye in con | nection with the company follows: Tn line with the practice of many of the best commercial institutions, stock holders of the Traders National bank have organized the Realty Trust com
 pany for the purpose of handling business
 which, under it's charter, the bank cannot handle. The company will purchase high grade securities and make such other conservative and profitable transactions as opportunity offers, but it will not re- 1 ceive deposits, nor do banking busi- ness.
 "The character of business which this 1 company proposes to do is similar to | that which is being done by many strong trust companies in New York and other
 cities The paid in capital is sl5o,oO0. and | this will be increased as the needs of the business require, the authorized capital
 of the company being s4o0,Ooo"
 | Mr. Frye said in discussing the trust | company in a general way that provisions
 were being made for the new company 1 to be quartered in the Traders hank of- l fees, corner Twentieth street and Third
 avenue. An organization totally different from that of the bank will be placed in
 charge and the operation of the two or ganizations will be separate and distinct He said that the most sanguine feeling prevailed as to the work and opportuni- ties for the trust company here, as it would contribute to the commercial life along the most legitimate lines.
 | The plans of President Frye were begun several months ago and since that time he has been working carefullys and cau- 1 tiously to get the proposition under way Rumors some time ago to the effect that plans for the organization were under way received assurances from Mr. Frye that when he had arranged the matter he
 would at once announce the plans to the public. The company will open for busi- ness without delay