The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-03-30
TRUST COMPANIES
ENCOURAGE THRIFT
CONTINUED From First Page.)

zion OF savings deposits arc held b.
trust companies.
Instead of waiting for patrons, the
trust companies have been III, arst to
depart from the old time honorcd and
r ow obsolete policies. They wcro the
first banking institutions to establish
lie so-called publicity departments
and TO employ experts to write book
let's ana devise methods for increas
ing the number OF savings dcpositors.
The booklet which played such an inn
nortant part in the incident related.
was one of Il series issued by the
trust company. 1T carried a message
10 many men, women and young poo
pie. and was the direct means of in
ducinG them to abandon improriaent
habits and join tho big advancing
army OF savings depositors. Although
the trust companies which pursue
/ such an up-to- datc policy. are not
wholly actuatcd by charitable or be
ncn impulses, il is a fact well known
in banking circles. that such courses
of instruction in thrift and economy
bring large returns TO institutions
which spend time and money in this
manrcr
Nor do the trust companies stop
here in doing such good work. When
u savings dcpositor has acquired a
few thousand dollars. it often happens
that he or she desires 10 invest in
high class safe bonds. The trust
companies have special departments,
presided over by a manager who know S
| all about Investments. is able quickly
10 separate the wheat from the chan.
The advice of this manager and the
! services of the Investment or bond
department arc AT the disposal OF the
, savings deposition. The advantage of
! keeping savings deposits with trust
( companies is further illustrated by AN
! incident which is an amos; daily oc-
7 Curroncc.
I This savings bank department man
aSer was approached ono day by q
/ patron who had accumulated by hard
work ana economy. the tidy sum OF
/ $1,000, some OF which had been in
+ vested in standard railroad bonds and
7 first mortgages on improved property
| Tho man was advanced in years and
! told this story. His family consisted
( OF a wife. one son and two daughters.
I The son WAS an improvidcnt youth
/ who had fallen into bad associations
/ One of tho daughters was about 10
7
I not approve. because of his irrespon-
+ Siblc habits. The father confessed
I that lie had a prcmonition that h.
/ might not live very long, and he want
/ al advice AS To how TO protect his
/ wifc and have his little fortune pre-
! served according To his wishes. Tn,
/ savings department manager intro
duced tn" patron To the trust officer
and he Went away happy witt the as
] b. ns
/ executor and administrator OF his es-
tate. would carry out his testamentary
! instructions, both in spirit and letter
subsequent events showed that tE'
trust company not only preserved tn,
value Of the estate. which Was held il
the form OF trust, but prevented the
: cNtravaeant son from spending NOR,
than his allotted income. afforded tn
widow comfortable income from
w"ll-invcstcd principal aud finally. he
cause OF its !nsisrcucc on the terms %
the VIII. was able To bring the dauSh
ter I" n realization of heq folly il
the unwisc bestowal of her affections
The trust company also offers many
other facilities to savings depart
meht clients II has modern cquipp
ed safety deposit department, whcr,
there are massive vaults for the safe
Keeping Of all Valuables. where boXc:
may be rented at a nominal amount
IN Which valuable family or propcrt.
papers may be kept. The banking de
partincnt also provides every unto
date opportunity for opening Checkin.
accounts. where money may be drawI
iE"insi deposits at any time. In fac,
nc modern trust company. as so
allied department store Of banltin'
and finance meets the requirement
II the individual depositor, In any wa,
hat calls for financial advice or as
SiStancc