The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-11-02
MOvInG DAY IN
BANKING CIRCLES
New Trust Company Begins
Auspicious Career, and Union
Bank Transfers.
ANOTHER ONE OPENS MONDAY
Fidelity Loan and Savings Com
pany to Enter Industrial
Field Next Week.

Yesterday wrote a progressive chap
ter In Richmonds banking history
The Richmond Trust and Savings Com.
pany. recently organized with a capitai
stock Of $1,000,000, which was over
subscribed within three hours after the
subscription books were opened, De-
gan business in its new home at ll0S
East Main Street. the banking house
formerly occupied by the National State
and City Bank.
The Union Bank added it's quota 20
the days banking history by moving
into new quarters at llo4 East Main
Street, formerly the home of the FIRST
National Bank, now located at Ninth
and Main Streets pending the compile
ton Of its quarters in the magnificent
skyscraper diagonally across the
street.
While the Union Bank began BUSH
ness yesterday in the Did First Ma
tional Bank building, which will be It's
permanent home. the formal opening
will not take place for more than a
month The interior is being extern
sively renovated. When the fittings are
complete and the new furniture IN
stalled the bank will keep open house
for a day to receive visitors.
Coming Back Home.
In taking up permanent quarters At
11O4 East Main Street the Cnaon BANK
comes back to the old home II leit
Almost a half-century ago. The insu-
tuition began business there IN 1850.
The building Is one of the oldest in tho
downtown business section. Together
with the old post Office building. 1t Is
one If the few downtown structures
that survived the evacuation.
The plans for improvements call ior
new walls, new ceiling and new
floor BY the time the carpenters ana
decorators get through, the Union hahh
will have one of the best appointed
banking rooms in the city. The pres
ent equipment VIII De supPianIeo ~
modern fixtures.
New Bank Opens Monday.
The Fidelity Loan and Savings Com
nsny Richmonds new Industrial bank,
which had expected to open yesterday
at 10. East Main Street, the old home
OF the Union Bank, found II Impossible
to get in shape for business. ana Will
formally throw its doors open next
Monday. The new industrial bank Will
enter a promising field under SUI 'he
backing, and will make its appeal par
ticularIy to the wage Garner and small
investor.
The Fidelity Loan and Savings Com
pany is capitalized at 100000, SUD-
scribed by local business men.
Thomas Gresham is president ana
Julian T. Winfree secretary ana treas
urer 1t will occupy the building neAe
door to the Richmond Trust una sas,
ings Company. the formal opening OF
which took place yesterday. Through
a coincidence. the two banks, both new
institutions and both backed by locai
capital begin business side by side.
Get Many Conkratulatioas.
Visitors and well-wishers came In a
constant stream yesterday to start the
Richmond Trust and Savings Compahy
of with a god:peed. The oankahs
house opened its doors at O'Clock In
IN. morning The first depositor ar
rived a few minutes later. Consratuia-
tory letters, kilograms and telephone
messages poured in all day to the pres
ident and officers.
Since the departure of the Nationai
State and City Bank the quarters nave
undergone complete remodelinS. and
the new bank began business yester
day in a practically new counting house
The interior is trimmed in mahogany
and the fixtures are Of massive bronze.
The new institution will engage IN
a regular trust company and banking
business and enters a broad field, unoer
particularly bright auspices, with the
prestige conferred upon il By the trleo
character of it's directorate. The major
officers are John Shelton Williams.
president; James c. Tinsley and E. l.
Bemiss, vice-presidents. and r. j. VII
bingham, Jr., assistant secretary ~"
assistant treasurer.