Perth Amboy evening news., 1921-04-08
PRIZE AWARDED
At PATC0 CLUB
P. A. Trust Co. Employees
Have Delightful and In
structive Session.

Directors, officers. employees of
the Perth Amboy Trust Company
AMI their wives attended the an
n,Ial entertainment and reception of
the Patco Club Of the institution
which was held in the assembly hall
of the Raritan Yacht Club last
night. The guest Of honor was Will
liam e, futile, Jr., Commissioner
of Banking and Insurance OF the
state of New Jersey. During the
evening Otto Schuster. an employe
of the bank, was presented with
5000 in gold by Isaac Alpern, the
president of the bank, for the work
he had done during the year for the
growth of the institution.
Although the Patco club has held
many affairs in the past, and each
wear hold their annual entertainment
and reception, every one present at
last NIGHTS affair voted that none
had eoualled this one. Otto ..
Keefe. the president Of the club,
welcomed the guests and introduced
the Aida Quartette of New York
CITY. which had been engaged for
the occasion. During the evening
this organization rendered a pro-
gram of musical selections and read
ings. Bob Willis entertained Win
a number of character stories ana
kept the club in an uproar from the
time he started until the last story
had been told. Music for dancing
was furnished by Sam Tonghlnl.
The president of the Trust Com
pany, Isaac Alpern, welcomed the
guests on behalf of the institution
He spoke on the good all banks dc
in a community and laid special
stress on what a banking house
should do for a city. The banks
should have first consideration for
the city and do all in their power to
aid civic betterment and work for
the progress of the city. said the
president. Mr.. Alpern then intro
duced Commissioner Tuttle as the
principal speaker of the evening.
Commissioner Tuttle spoke of the
difference in methods in banking
today and those used a few years
ago. Today the banks are more
democratic than they have been In
the past, he said. In speaking of the
federal reserve system he pointed tc
it as the greatest financial legisla-
ton ever enacted, and that under
this act the banks are close to the
public and a part of their everyday
lives.
Banking resources" he said
"have increased ten times during the
past thirty years and in New Jersey
which is known as the leading bank
ing state in the Union, the resources
have increase twenty times in the
past thirty years. In 1890 when the
department Of banking and insur.
ance was created in the state the
total of the state were
$50, 900, 900, they now amount up.
wards to 5000, 600, 900. One thine
that has contributed to the success.
of the department is the fact thai
politics are eliminated" said thu
speaker.
Commissioner futile told Of the
future of banking in New Jersey an6
in fact predicted a great future ir
this state for all business. In clos,
i:-g he explained the excellent con.
dition the department is in and said
1.-THE soundness of every bank as fal
as the department knows is unchal
lenged."
At the reception last year Presi
dent Alpern, of the bank. stated
that he would give a prize of 500
most during the year for the growth
Of the institution. The prize wen
to Nh. Schuster.
Between the courses of the de
lightful dinner which was served tn,
guests danced in a large circle tina
had been formed by the placing o
tie tables.
The affair was arranged by JOIN
j. Quinn, manager of the real estat'
department of the Trust Company.