The Twin Falls times. [volume] (Twin Falls, Idaho) 1905-1916, 1916-08-31
= y $50 = r
TALKS ON BANKING. +
.
TRUST COMPANIES.

The trust company has well been |
termed "the department store of bank |
ing" in that it can do for man
whatever he needs done in financial |
way, dead or alive. 1t can accept de- |
posits as a national bank or a state |
bank may do. 1t can make loans |
similar to other banks. 1t receives !
savings accounts. 1t may buy a bond
or share of stock for a client but
it cannot issue bank notes. 1t has
broader powers than either national
or state banks, for by law it is endow-
ed with trust powers denied to other
financial institutions until the Federal
Reserve act was passed two years ago,
enabling national banks to also act in
trust capacities, but this feature has
not as yet been widely adopted by the
national banks. Trust companies are
under state laws, and are examined
and report after the manner of state
banks.
The chief distinguishing feature of
the trust company is the trust powers
above mentioned. 1t may be the exc
cutor of your will 1t may be the
guardian of your children. You may
have your estate left in it's care, and
it will make the investments, collect
the retns, pay the bills and turn the
! proceeds over to whomsoever you de-
signate. 1t may certify that in bond
issue, say of one hundred million dol
I lars, only one hundred dollars in
bonds have been issued thus prevent
ing an Over-issue of securities. 1t may
transfer stock for corporations. 1t
may act as the trustee in a mortgage
bond issue, and hold the security that
protects the bond issue. 1t has broad,
varied and very useful and necessary
powers, and has become an indispen-
sable part of our present financial
scheme. We could not do business
without it.
The chief benefit of the trust COM
pany to the individual lies in its power
to act as the executor or trustee of
estates. If you make your will and
name an individual as your executor,
he may die before you and another
must be named He may die before
your estate is settled and another
must take up the work where he lays
it down All sorts of complications
r are possible
But the trust company never dies
= its life is perpetual. 1t is surrounded
e by many legal safeguards. 1t mus
D invest the money of your estate in Ger.
e tain prescribed securities, whose
. value is the highest known in invest
ment circles. 1t has a force of train
1 ed men who know how to make invest
ments, keep books and render proper
!. account to the legal authorities and
K beneficiaries.
The officials are experienced men
= whose services command large salar
les. 1t has the machinery to do things
right The fees for these services are
g usually the same as an individual
would be entitled to, and therefore it
services are no more costly than pri
vate parties would receive with all tn
= attending risk.
q Men of prominence and those VIII
* feel the Importance of safeguarding
n their estate from waste and misman
agement are now making trust com
panies the executors or trustees I'm
der their wills, knowing full we'll tn
risks of private administration an
T. the benefits of corporate management
A trust company can do all that
bank can do, all that an individua
, can do, and many things neither ca
/, do, all of which functions have playe
a part in making these institutions nc
- only prominent in the banking worl
a but an invaluable part of our moder
S civilization. They can serve you we
D. during life; then can serve you bette
rs after death. 1t would be well to ca
A. on your local trust company and a!
certain how, in your station in life,
can best serve you