New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-03-30
Community
Trust Now on
Working Basis
Frank ]. Parsons, Director
of Civic Organization,
Announces 1t Already
Has Begun Functioning
All Politics Is Barred
Distribution Committee to
Have III Members, Each
Greed Limited to Three

luz NEW xOfk ClLy nave aQV6HCeo SO
far that Frank J. Parsons, vice-presi-
dent Of the United States Mortgage
and Trust Company and acting director
of the trust, said yesterday that the
institution already has begun function
ing.
Bequests Of property have been
made to the trust recently which as
sure the carrying out of the charitable,
educational and scientific aims of the
organization, Mr.. Parsons said, and
when the first cash gifts become avail
able for the trust fund committee
on distribution will be selected for the
disposal of the money or net in
come from year to year in accordance
with those aims.
In addition to sixteen local trust
companies, the boards of directors of
which have adopted the resolution and
declaration creating the Community
Trust and are, therefore, the nucleus
for the building up Of the project,
numerous national and state banks, as
we'll as other trust companies in this
vicinity. have requested information
and intend joining.
Trust Companies Involved
The trust companies which have
agreed to receive contributions of
money ard property and take an ac-
tive part in the conduct of the Com
ttxv %ol
Company, Columbia Trust Company,
New York Trust Company, United
States Mortgage and Trust Company,
Irving Trust Company, Title Guaran-
tee and Trust Company, Hudson Trust
Company, Metropolitan Trust Com
PAM. Manufacturers Trust Company,
Fran, ~ Trust Company. King County
Trust q 'pany, Mercantile Trust Com
pany, Fidr. Trust Company, Ameri-
can T'-.st 1 npany, Hamilton Trust
Com yany and She Commercial Trust
Company.
Alvin w. Krech, president of the
elected chairman of the trustees COM
mittee provided for under the plan.
The committee on distribution re-
ferred to will consist of eleven men,
bers. the tenure of any member not to
exceed six years and the body so con-
stituted that at the end of each year
two new members will displace two old
ones. The constitution provides that
these members shall be residents of
the community, citizens Of the United
States and shall be selected for their
knowledge Of the educational, chart
table or benevolent needs of the in
habitants of the community"
In no event shall more than three Of
ligious sect or denomination. No per-
son holding public office shall be a
member OF the committee, and if any
member shall be appointed or elected
to public office he shall cease auto
matically to be member.
The Committee Makeup
nominated, appointed and classified as
follows:
Glass l. One member by the presi-
dent of the Chamber of Commerce of
the State of New York.
Class z. One member by the Mayor.
Class 3. One member by the presi-
dent of the New York Academy Of
Medicine.
Glass 4. One member by the presi
dent Of the New York City Bar Asso-
citation.
Glass 5. One member by the senior
circuit judge of the United States Cir
cult Court of Appeals for the I'd Cir
cult
Class 6. Five members by the trus-
tees committee of the Community
of RI,
ecutive officer of the trustees.
More and more" said Mr.. Parsons,
persons of wealth are coming to see
the ACCESSIBILITY of bequeathing money
and property to the public. The his
tory o. Community Trusts in the
United States and the services they are
performing for the public good in each
of the large cities where they have
been set up, show that the Community
Trust can be tremendous force in
the amelioration of any condition detri-
mental to community's interests.
"As time goes on we expect the num-
Der of persons disposed to leave their
wealth for the enhancement of the
public good in this city will great9
increase. They now have an organiza-
tion which assures them a worthy en-
ployment of their bequests. THIS city
needs the Community Trust perhaps
more than any other IN the country
by reason of the varied conditions Of
life and population"
Politics Barred
Mr.. Parsons said there would be no
mixing in politics or partisan matters;
that the Community Trust would util-
ize part of its funds for investiga-
tions and presentation of acts from
an impartial view, to the end that the
community may be aided in all posi-
bic ways.
Gifts are now being made under
wills and living trusts" he added, for
the carrying out Of the purposes of the
trust. When the first cash gift is re-
ceived the Committee on Distribution
will be selected, and put to the usages
provided for in the trust plan"
There aret hree essential points
which. Mr. Parsons asserted, intimately
associate themselves with the scope of
the trust. These are: The preserva-
tion of the principle of the charitable
gift through trust; the flexible ma
thinery provided through the COM
munity trust by which the income
! from ones gift is always made APP
plicable to live, current charity and
the possibility for creating, as the
people are. educated up to the COM
munity trust idea, fund from donors,