The Dallas express. [volume] (Dallas, Tex.) 1893-1970, 1922-09-02
GIGANTIC TRUST COMPANY
FORMED in PHILADELPHIA.

Philadelphia, Pa, Aug. Sl.-what
win be the largest colored trust COM
pany in the country wnen organized.
is fast emerging from a possibility to
a reality. This Is the Citizens and
Southern Bank and Trust Company
of Philadelphia, Pa. Of which Major
r. r. Wright former president OF tho
Georgia State College Savannah, Ca,
is president and prime mover. A big
Trinity Baptist Church. DR.. w. f.
Graham, pastor. and the best indi-
cations are that this gigantic Negro
trust company win formally open its
doors to the public January 1, 1923.
freedom in the United States, A large
and enthusiastic crowd assembled.
Speakers were: II. s. Mckinley, vice.
president of the Oldest bank in the
United States, the Bank of North
America, capital and surplus $4,000. 900;
Messrs. John Lynn and T.. A. Lynn.
attorney and Philadelphia Manager OF
the largest insurance company In the
world, the Metropolitan Life Insur-
ance Company which has in force
over $3.50, 900 900 of insurance on over
100000 Negro lives; DIR. w. r. Gra-
nam, pastor; Major r. X. Wright,
president of the Citizens and South.
ern Banking Co., also president of the
proposed trust company. DR.. II. n.
Wright, Jr, editor Of the Christian
recorder; and VIM. H. Ridley. at
The new trust company is an out
growth of the Citizens and Southern
Banking Co., started by Major Wright
two years ago. In this new venture
ne mas the backing Of the best bank
srs ana financiers of the country. On
the advisory committee are e. Rusey
Passemore, president of the Bank az
North America; Asa S. Wing. presi-
dent Of the Provldent Life and Trust
Co.; Elmer G. Parsly of the great
banking house of Parsiy Bros. and
Co. The Public Ledger, Philadelphia, 8
most influential morning paper IL
actively behind the Trust Co, Also
the Metropolitan Life Insurance Co.
the largest insurance company in the
world. which recently gave luncheon
in its palatial dining hall In New
YORK to the Bishops of the A. M. o.
church. at the request of Major
Wright. Vice President CASTOR OF the
metropolitan said Our company col
lects over thirty-three million dollars
year from Colored people We feel
we should give some of this back To
aid them in their enterprises. Major
Wright has the most reasonable plans
! ever brought to us and through his
trust company, we will have millions
| Of dollars at your command" Mr.. Nc.
! kinley said The oldest bank In Am
erica greets you The other day wher
/ your board met in the Board room OF
the Bank of North America you made
history, for the bank of North Amer
4 lea was organized when the financial
fortunes of the American soldiers In
the Revolutionary War were at low
ebb. We financed American indepen-
dence and won. You must organize
to finance real freedom of your peo-
pie. DR.. Graham said This is an
epoch. Major Wright has done for the
Negro what was never done before
We all know of white people helping
cur churches and our schools, but
they don't pay much attention to our
business. By getting the best, the
very best and biggest white bankers
in this town and the leading insurance
companies of this country at his back,
Major Wright has business foundation
for the Citizens and Southern Trust
Co. that no other Negro financial in
stitution ever had, certainly in the
North, and that means success to
start with. I am for the Citizens and
Southern and my church will follow
me-" Major Wright announced that
progress is being made. Over 100000
worth of stock has been sold and a
quarter million is expected by JAM
uary LIST.