Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-02-04
TRUST COMPANIES
GUARD BILLIONS
OF DOLLARS
AS Administrators and Execu-
tors of Estate These Institu.
tions Offer Great Advantag.
es Over Individual Trustees.

boon aereftnincd that tho TRUST com
panica ct the United States are nd-
ministcrinR the affairs and guarding
estates valued ai seven billion. iWo
hundred million dollars. This vast
treasure embraces rcai estate. person
rel property. stocks mud bonds. mort
guIes and cash funds. conveyed 90 the
aafckaeping OF trust companies Ia acc
cordancc with Instructions under willis
and Instruments Of trust for the homo
Csc of heirs and logatees. Among the
estates managed by trust companies
arc those of eminent jurisls. finnn-
cicrR bankers. capitalists ana mcua
u ho have lcu large fortunes. The
same care and precautions with which
The great estates are looked after ia
directed to tbs rapidly increasing
number ol small estates which are be-
inE turned over to these Institutions.
Tho umf reasons which induce the
man of large moens Co hHyo q trust
COMPANY appointed as executor and
administrator at his estate "a guard
his family against wHste or mismar-
Hgcmeut after his death appeal with
ouuui DO nDt greater force. 60 th" mat
ho has only % few thousands or the
proceeds ct hfc insurance 90 keep ht-
widow and children from poverty
Th.r. haNa hern many important
developments uf lato to show thar
there b. general awakening through
out the country that the trust com
p4uv b. thr only logical aud satrti
custodian ol r-tHucs and trust funds
90, sentiment b. largely due tn IA"
uluy disclosures which appear iW
Iuhur print describing tho louting 81
estates. mismauuErment inCumpctcnt
and application ot TRUST FUNDS In spcr-
uution where such property aud
funds haye been placed in tho sui'
custody ct some udlviduai who 'F
surrounded uud Yields tn temptation.
Au examination OF probate court rec-
lrda la several at the largest cities
of tho country revealed the mclaa'
,hulV fact chat many hundreds Of
millions of dollars worth Of prop
,rty. securities aud funds hrinngius
ta estate. aud which have been placed
u the hhuds Iof so-callcd "conilden-
t'al" ore Family advisors as executors
aud administrators. have been lost
through needless litigation, mCompe-
I tent muua cement or dcfalcation. IN
most instances tho records 81 such
/ IossrS de- NOE como Go public notice.
u is only when some tragic circuip
1 stances attend betrayal 81 trust that
Z thn new sng peus give an nkling Of 10"
trur conditions Several weeks aro
! h NcW YORK. papers contained details
ct Tho complete lootlug ol tho estate
of the lato ROSCOE Coukliu lV an IN
diNIduaI executor several days attcr
! this was made puhlic there wore ace
4 counts OF the suicide ~ "a prominent
/ ,tI2,u who resided Zoe one 81 tho
/ ushiouaLIr suhurns of philadelphia,
who had wasted thc proceeds of NUM-
,rous estates valued 80 s2nh,o0O. ln
/ put.burg thor, Ncr, u0 less than four
m.u loo prison 200 emo same time await
ing trjbl ol criminal charges of has
! mr appropriated trust funds FOR thcif
uWu usr.
Whom -uyh vyll known mrn ms the
! iatu yhipr Justice Fuller of the United
Suta. supreme court, senator stephen
Elkus Marshall yield. T., a. II. Wide
nor and maut others on tho roll oil
the departed. mako WlM ln which
lth,y instruct trust coppeuios To- man
Ing, and preserve their estates for th'
iuDlary of hrr Families, Il "a cosy
to- comprehend why the trust compan
/ .'. Ntf' '.' '. ' -
hpusiifo nN' "iEtiion covering F''.
rnmpouI'. zoo "ll inc states u"fi"s 'u'
past iuir"n years aurora thr i'n'"' "
able result ihW lh'i' h"N' '''u on"
thre" trust company '"l'uf'S "uIil.
lh'' iW' who're u"r' h"P' ""'
.nuo7 were ln'"'N o" 90 one "'
cases INC receivers o"N' p''u ''' -
r''h N"r' '''iinF "l '".i """ ." VIZ
"lh'r Wv" i'.'N' ''' 'lU''','.',
asset. h'' mon f'' N''" '''''
maj ' q h'' '''F '' =" E'"''
'h' LOSSES '' i'''.'''" ''"''
d WlR 'n"N"' ''' " '"''' ,''
lh' '''"l"F D." l"' ''''' "'
OH" ~h'" lhh' 'h'i' 'r Pc"
'nr ~''lh''' col '"N ""'' '"'"'
estate property NH'I' '''-' ''''''''''
nave h'd I'D" n"N'F' '''"D
AS executor IN" '''''''' ''''
~"-'all'd .w'a'in ''"'' "'''l''"'
Represents s'Ihi"lf 'h" b'''''"'
lul'N' 'h' 'u"'' ln"' 'N''0''I '' .'
Wiurir'i"t ih' untl ''np'HN ,''" W.
tns'"nd. cannot speculate WIN ''"
''n". cam NOT p" %" ."''
render I''e '''"uh'@. pr, 'n'N
tnr. Nh'h tu lu',' ''u'' h''''