The Bridgeport times and evening farmer., 1918-12-09
Two Savings Banks Contemplate Change
 To Trust Companies
(Continued from Page One,

l
 At meeting of the Corporation of
 the Bridgeport Savings Bank held to-
 oay' the following resolution was un- ! animously, adopted:
 i whereas, the Board of Trustees Of the Bridgeport Savings Bank has
 adopted and forwarded to the corpor- l ators for their consideration a reso- luton Of the Board of Trustees which l reads as follows:
 Whereas, at a meeting of +he
 Board of Trustees of the Bridgenort
 saVlngs Bank held November 25, 1918, an informal discussion was held
 relatlve to enIarging the powers of the bank so as to enable it, in addi-
 ton to it's regular savings bank busi-
 ness' to do other business allowed trust companies under the general state law; and
 whereas, it was the sense of that
 meeting that an amendment of the
 banks charter authorizing such an
 enlargement of it's powers seemed de-
 slraole; and itw as voted that meet
 Ing or the corporation be called upcn
 ten days legal notice, so that the
 matter could be considered and acted
 upon by the corporation after more
 mature and careful deliberation; and
 whereas, the Board of Trustees
 oeem 1t to the best advantage. first.
 or the depositors of the bank and
 second, of thep ublic at large. that
 there be such an expansion and deve1-
 opment of the Banks powers so that
 the depositors would have equal secu-
 rlty for their deposits and the bank
 would i'll larger place of usefulness to them and to the community:
 therefore, Resolved, that the trus- tees recommend to the member of the corporation thatp roper steps be taken to effect an amendment of +ba charter of the Bank so that in addi- non 10 it's regular savings bank busi- ness ness IL may be authorized to exercise .1Ae powers or trust company under the general laws of Connecticut" Resolved, That the members of inc corporation of the Bridgeport Savings bank concur in the recommendation or the board of trustees, and that petltlon to the General Assembly of the state of Connecticut be prenarad ana presented, praying for an amend ment Of the banks charter. so +bo+ Tn addition to it's regular savings bank business it's powers may be en- larged so as to include the general banking and other powers granted to trust companies under the genera state law and that to this end it may pe authorized to change it's name +o that or The Inion Savings and Trust Co. and to have an authorized canita1 stock of s500,000, and
 Resolved, That the president treasurer and counsel of the bank he and they are hereby authorized and empowered in the name and on ha- nalf Of this corporation to prepare such petition to the General As 'emoIy' and to give such legal notice. pr notices, as may be requisite, 1 which petition and notices shall be | signed by the president and treasur- ar and attested by the secretary and TO oo all other acts that they may leem needful or proper to carry this l resolution into full effect.
 if this petition is granted bv the | legislature and the amendment | Ldopted it will allow this bank moi 1 'nly to ttontinue to serve the neon1a 'r Bridgeport and vicinity as 1t has n the past but also to offer to them | .l the facilities and services of 2. Trust Cpmpany---ther greatly en- l arg1ng its usefulness to it's denositora md the community.
 The Bridgeport Savings Bank is q mutual savings bank, all of its assets T every kind and nature including it's urplus belonging solely to the dertos- tors. Therefore, if this change is aade the depositors will benefit bv ne credit Of the surplus pro rata to ach individual depositor's account. ne deposit accounts, thus increased 'llI then become deposits in the Saw 1gs Department of the Trust Com any and safeguarded by the same in- estment law as governs savings anks and protected, in place of the resent existing surplus, by the capi- Il stock and the surplus of the Trrst company.
 Since opening it's new building for usiness on April 1st of this year there as been a very marked increase in le banks business. During this time 3l2 new accounts have been opened, 1e largest number in any one month
 .' HI 4NoFe1ilpeF. III the same eE1od It's deposits have increased a2,392,99, November again showing 1e largest gain namely $244, 4,4118S. The officers and trustees of the bank re as follows: A. w. Burritt, presi ent; B. W. Bassick,' vice president: ohn s. Pullman, vice president; Sam el M. Hawley, treasurer; trustees, I. z. B1rdseye, N. W. Bishop, G. c. Ed ards s. E. Goodsen~ W. F. Hobbs,