Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-08-24
PREPARE FOR OPERATION
OF FEDERAL TRUST BANK
New Company Will Establish Its
Quarters at 8O5 East
Main Street.
MINIMUM STOCK IS TAKEN
Subscription Books to Remain Open
Few Days, and Payments VIII
&c Called for About Scptcni-
Der I.

;. The minimum capital stock OF the
FEDERAL Trust Company. a charter for
state Corporation Commission by some
OF Richmond's younger business men.
mas been over-subscribed. and the
directors are arranging to open for
business early next month
The permanent location of the bank
ing house will be at sos East Main
street. but until this location is vaca,
the Federal Reserve Bank by whom 1t
Is now occupied, temporary quarters
have been taken next door at No. 500.
The officers of the new institution
are L. L. Adams. president; Hunsdon
Cary. vice president and general coun-
James L. Gallehcr secretary. Mr.. adams
was president for several years Of
the Marshall National Bank, of Mar
shall, Va. and is member Of the r.
7. ADAMS Company Of this city. MIR.
Cary is an attorney and was formerly
member Of the city council Mr.. Hay
Of the. Virginia state Bank. Of Hope
we'll. Va, TO accept his present position
with the Federal Trust Company ana
has had wide experience as banker
pany from the Merchants National
Bank, IF Richmond, where he held
mcrcial department.
Directors of Company.
In addition to Messrs Adams and
Cary. the directors are w. ID. Duke
Federal manager, Richmond, Freder-
Nat. Harrison. President Harrison Con-
strnction Co. Inc. Petersburg: Or. j..
I l;la%n, b HorI n:,, proprietor of 81,
ston. of Carncal and Johnston. archi-
tccia and engineers: W. Il. McEwen.
president McEwen Lumber Co.. Nor.
folk: Charles Il. Norman, proprietor of
y. II. Berry & Co; Edward Ragland.
president Montague Manufacturing Co
John l.. Radcliffe. florist; W. 7. Seldcn,
t,rHG ID
steele Tra!,. of Harris. Forbes a. Co
Baltimore and Stewart II. Woodward.
OF Woodward ana son, Wholesale lum
Der.
The stock Of the Federal Trust Com
pany has been sold at $3.50 per share
and mas been very widely distributed,
more than go subscriptions having
been received. While a majority OF
the subscriptions came from Richmond,
a large number have been received
from other sections Of Virginia and
the Caroiinas. as well as quite Il num-
Der from other parts of tho country.
An attractive feature of this stock as
an investment vas the fact that the
directors announced at the outset that
there would be no promoters fees. and
that every dollar subscribed would go
directly into the company's treasury.
Hns Various branches.
In addition to conducting a reGula :
trust business and acting in all of the
usual hduciary capacities, the Federal
iust company VIII! a!So operate com
mcrcial and savings departments and
offer all of the facilities of an up-to-
date banking institution. Its charter
is broad and comprehensive and in
cludes all of the privileges usually al
lowed corporation OF this kind.
Although the minimum capital stock
has been oversubscribed, the subscrip-
ton books viii not be closed for sew
cral days. as Ii is the desire of the
directors to accept as many subScrip.
lions as possible before the initia
meeting Of stockholders is called &c
formally accept the charter. Payments
on the stock that has been subscribe {
for Will be called about September l.