The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1916-01-13
Certificate Received From the
Federal Reserve Board This
Morning Authorizes Action
as Trustee, Executor. Etc.
ANNUAL MEETING CLOSES
MOST PROSPEROUS YEAR
Flourishing Financial Institu.
ton Pays "a Per Cent Divi.
dends in 1915 and Sets Aside
Large Sum to Stockholders
Account.

coincidcnt with announcements fol-
lowing the annual meeting of its
stockholders. and the o~leCtsu ui dircc-
tors ard officers for the Cuming year,
tho state National bank ut Alouuucr-
que this morning received irCm the
federal reserve board at Washington,
a formal certificate authorizing ~ To
act as and perform the duties ut trus
tee. executor. administrator and as
registrar of stock and bonds.
THIS authority. which gives To the
state National virtually all the pow
crs. facilities and opportunities tur s'r-
vice Of a trust company. rs granted
under subsection * uf section Il
of the federal reserve banking act.
ana IL the first authori1ntiou az the
kind to be given to a New Mexico bank
by the federal reserve board. II
means. In effect. that dndcr due super
vision OF the federal reserve board. the
state National may perform the tunc-
;ions of a trust company Wherever
such authority does mot conflict with
other provisions of the federal reserve
banking act. or state law and that tho
powers ana opportunities ot the bank
for service TO It's customers have 1oen
very materially extended President j.
n. Horndor received he certificate az
authority from the federal reserve
board In his mornings mail.
Mr. Herndon announced this morn
! ing the recollection Of an officers of the
state National for the coming year, nj
the annual meeting held Tuesday ai-
/ tcfuoon and the recollection Of The
same board 81 directors with the adj
| ditiou TO tho board uf Mr. A. r. pol
lock OF this city. one of tho leading
siocksrow .rs and hnanCicrs ~ the
ntute. The official rnster of the state
| National now stands ns follows
President. !. u. Hcrndou,
Vice president. JACOB Eofher,
Vice president. ROY Mcdonald.
Cashier. II. NJ. Merritt
Assistant cashier, b.. j. Arnliin.
Assistput fashier. J. s., l,1plol.
The directors htc; H. a. Pollock
! Jacob korhcr. -. ~. Marion W W
strong. " II. Springer. H. -. Horn
don, Roy Mcdonald.
"A the slmc time the annual meet
ins Of the American Trust o Sass
ings bank wss hold. resulting In tht
recollection OF ho-snme board of d.
rcctors. with the addition of MI Poi.
lock also 20 thst BOARD Tho trust
cumpat vs. official roster Is ~ follows
President. j o. Hsr1dou.
Wee president Jacob kurb e..
Cashier. " A. NcNnlhn
Assistant Cashier Robcrt T Seweil
Directors Jacob korbcr. x. r. Pol.
. lock. q. " Marion. Roy Mcdonald !
y. Hcrudon.
\ Very Prosperous ear.
Reports 81 the officers "a the annun'
meeting and resulting action hy the
directors. show he state National {,
have enjoyed the most ~proapriuui
year la ~ very prosperous and sue.
cessful history. during 1915. burinf
the year the bank declared dividend.
to Is stockholders totalling - pei
cent. the best dividend record u ma
made thus far, nd the directors als'
get u large to- the credit ui
the stakeholder account.
Our bank has enjoyed u very pros
porous year said Mr.. Herndun hi,
morning. and We are duly apprccin.
tive OF the cordial business relation