The Bridgeport evening farmer., 1912-09-24

should be scattered as -5fbadlpsas DOS slble among the business Interests of Company. and the good Of the city
 While most of the stock will undoubt- edly be held by Bridgeport people a portion is being reserved to place with state banks which will make Bridge port their Reserve Depository We
 have approached several state banks matter and have met great encour-
 aBement. Some have already sub scribed for the stock with the under
 standing that they will deposit their
 reserve in the Federal Trust Co. q
 number have asked that stock be re-
 served for them until they can bring
 the matter before their investment board. MT. Charles E.. Hoyt, Secre-
 tary of the Connecticut State Bankers
 Association and also Secretary and
 Treasurer of the South Norwalk Trust company is enthusiastic about the prospects of the Federal Trust com pany. His directors unanimously vot- ed to take a block Of stock and he and several of his directors subecrib- ed individually. He lives within half an hours ride of Bridgeport and is familiar with the banking conditions here and is thoroughly convinced that it is an ideal field for such a trust company as now proposed. The Bris- tol Trust company have subscribed for block of the stock, as has also
 the President of one of the large
 banks in Rockville We expect to have dozen Or so more state ba nks
 
 gested a sort of bankers trust com
 pany, While this Trust company will
 undoubtedly. secure a good line of commercial business it will give esne- cial attention to Savings deposits. the field of which is unlimited If the big trust companies of Pittsburg, C1eve- posits in their banking by mail' campaigns from all over the country and have no doubt good deal from Connecticut, why should not big in wi "a he come the largest city in Connecticut
 secure large Savings deposits from the state? It surely can if operated by | o-date banking methods.
 The Trust department handling trusts, settling estates, etc, should eventually become the largest and most profitable part of the business. It is equipped for this purpose and can
 handle such business much better
 than individuals There are many of Torrington which have no trust compa nies, and it's large estates have
 to seek trust companies elsewhere to handle them I know of estates being handled in New York City and New Jersey companies which should be kept
 in Connectieut. A big trust company 1 manded for this purpose.
 That this Trust Company should have large business and prove a very profita b1e investment is a fore gone conclusion. While: as stated this | charter was procured in the interest | of one of the local banks and sev- l era1 of the directors of that bank have shown their confidence in the proposition by subscribing to the stock. | no single large subscription has been | taken and there has been no disposi- l tion shown to concentrate the control l in any one bank or limited number of l individuals. It is intended to make this a great popular institution. and for that purpose we are anxious to have all the banking a7Fd@bu siness in l terests of Bridgeport interested. Small h ri IES 0Ilklr- of stockholders means many pe0ple work | ing for the new Trusr co1npany and l big business for it. It is thought that l a large Board of Directors of perha ps l twenty or twenty-five to meet month l ly. with executive committee of perhaps five members will secure large strength and good management. No | attempt has been Or could properly 1 he made to determine who these direc- | be selected by all the stockholders l from the list of stockholders as com ] p1ated when the organization meeting takes place. Purchatsers- of the stock | can be assured that a strong. energetic and up-to-date management will be secured
 with s1oo,o capital, which is already practically subscribed. but the plan is to raise s5oo,ooo, selling the shares 1 of $1oo par value for s20o each. so that $25O.0o0 will be technically capi- tai and $250.ooO surplus. The organiza- ton of banks with a paid-in surpluf is common custom now and 1t has
 Snany advantages, anaons1z.others it makes it so that bank can com mence raying dividends promptly out of the earnings as it does not need to wait to acquire surplus.
 Among those who have shown an interest in this enterprise ard are subscribers for stock are the follow ing.
 e. Barnum seeley. S. T. Davis. Jr..
 Peter W Wren I. w. Birdseye, Hon.
 Allan w. Paige. F W. Hall. R. T.
 Whiting L. H Mills Jacob B. Klein
 A. H. Garfield Wilson Marshall, Geo.
 E. NeIius. William B. Leigh John T.
 King James T. Roche, Marcus B.
 Butler, John F. F'oatersf Charles A