The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-09-26
NEW FEATURES Of
TRUST COMPANY
Work BENEFICIAL
Projecting Funds OF FfaterDal Socac-
ties. Lodges, Charitable and Educa-
ttonal Institutions . Service Recent
~ Introduced ny These Institutions.

ties, Lodges, Charitable and Educa-
ttonal Institutions q Service Recent
" Introduced Ry These Institutions.
Within recent years the number of
defaicattons by custodians OF the
funds Of frnternal societies, lodges,
charitable and educational institutions,
have steadily decreased. Tragic cir
cum stances often followed the expo
sure Of such betrayal OF trust. 1t was
found that funds of such societies and
institutions had been used for specu-
lation and more often had been wasted
through bad investments or incompe-
tent management. The old proverb
.everybody.s business Ii nobody's bus
mess was illustrated in q iamentable
way by tho manner in which fra
sernal and charitable organizations
have been deprived Of their funds.
The fact that the courts record a
less number OF SUCH violations OF duty
is due almost entirely to the grow
ing custom OF having trust companies
assume all the oblisat1ons and bur
dens in connecEion with the finances
OF fratsrnal, educational and CHAIR
ia BILE organizations. The logic OF this
policy has also been appreciated by
church and religious orgAniaNons.
In a number of cities the funds OF re-
ligtous organizations are deposited in
trust companies and all the duties OF
receiving money and expanding funds
for the separate church. social. hos
pital, missionary and educational In
situations are distributed through suc!.
agency.
This work IL a comparatively new
departure in trust company service.
A large number OF such companies
have established special departments
and equipments to handle such duties
The method most frequently employed
Ia 10 appoint the trust company Al
treasurer. In effect. Of the lodge. fra
ternal or charitable Institution. Often
the treasurer appointed by the lodge
or institution 10 q very busy man and
he Ia glad to turn over the books and
all financial details OF his affIce to the
trust company. This relieves him OF
the actual work while at The same
time he may supervise the tranMc-
tons that call Tor more personal AT
tentson. Where II IL lodge there are
initiation fees. dues and assessments
to be collected and payments are TO os
made to wfdows ana cnildren In &C.
cordance with death penef1Is the
trust company ATTENDS 10 Oil eneSe co.,
iections ana disbursements An I'M
portant feature 10 That no pond 10 re-
CURED OF trust companies wniS pcr-
sonai treasurer must glve oono' ana
the cost OF 1t y usually met oy the
socisey or mstituuon Lct wncn no
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The saccaesfu ana SAFE manner IN
which trust companies handle TINS
kind OF work 10 inducing Quam-pubuc
and frAternal organisations 70 0tdti1e
their services moro ana more MOI only
10 there the possibility OF misappro.
prtAtion Of funds by an individual
treasurer. but he may also be a man
who, having his own important AFFAIRS
to look AFTER. therefore. mas not the
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