The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-04-24
MUTUAL SAVINGS BANK
(coutinusd from PlSs ons)

HdSuSS lTueI Spuupdus euJCHS H'i
the advantages and powers. the alb
sence Of which handicapped It's pro-
Sress In tho past Every banking &C
ttvity viii be followed. including cav.
tngs and commercial banking. buying
and selling Of real estate, trust and
1idpciary activities. etc. With able
and experienced officials at The helm,
who are thoroughly familiar with all
these departments Of modern up-to-
date banking, the future career Of the
Mutual can be depended upon to show
giant strides OF progress, compared
with which It's achievements OF the
past under restricted powers will sink
into comparative fnsigniflcance.
Enters Broader Field.
In order that the reader may gather
m idea OF the hroadened field upon
which the Mutual now enters. the
following quotations from It's new
charter are given:
-. to engage in a general bank
Ing business =. by dtscountlnS
promissory notes, By negotiating
drafts, bills Of exchange and other
evidences Of Indebtedness. by re-
ceiving deposits and allowing inter
est thereon under such lawful regu-
lations as may be prescribed by the
board Of directors, By buying and
selling exchange. bank notes. bull
lion or coin. and by loaning money
on personal or other security.
TO buy. hold. sell and guarantee
bonds, stocks, loans and evidences
OF Indebtedness, whether OF persons
or corporations
ITO receive upon deposit, for safe
keeping, Jewelry. plate, stocks,
bonds and valuable property OF
every description. upon such terms
as may be agreed upon.
ITO act as trustees, assignee. re-
celver general or speciaD. guar
dian. executor, administrator, spe-
cial commissioner, committee or
curator. and to take. accept and
eYacuate trusts OF every description
not Inconsistent to the Constitution
Of the State OF West Virginia or
that OF tho United States OF Amer
'tca. and to receive deposits Of
money and other personal property
" and issue its obligations therefor,
TO invest its funds in and to pur-
chase real and personal securities,
and TO loan money on real and per-
sonal securities.
ITO act as agent for the purpose
OF Issuing, registering OF counter
signing. purchasing or selling tho
certificates Of stock bonds or other
obligations OF any corporation. as
ISOLATION. county school district.
magisterial district or municipality,
state or public authority. and to re-
ceive or manage any sinking fund
thereof on such terms as may be
agreed upon.
ITO purchase and sell or take
charge OF, and to receive the rents,
issues and profits OF any real es-
tate for others.
ITO receive and hold on deposit
and in trust, as security. for the
purpose Of indemntfying and saw
ing harmless any company from
making any loans and accommoda.
tions, any estates. real and per-
sonal, including the notes. bonds
and obligations of states. counties.
municipal corporations. individuals.
Arms or corporations, and in case az
default upon any note or obligation
for which such property has been
received as indemnity or as collat-
eral security. TO purchase. collect
and adjust. settle and dispose OF the
same, without proceeding at law or
equity
TO exercise al powers which
are appropriate to trust company
under the laws Of West Virginia,
including any powers which may
hereafter be authorized By law 10
be assumed by trust companies in
said state.
Change Long Considered.
After the death Of the Mutual SaT.
ings Banks founder Mr.. Alexander
Mitchell, which occurred Thursday,
July IA last. tho trustees began to
consider the future % the Institution
and the changes that might become
necessary. The trustees almost with.
out exception had other banking
connections, and their Identification
with the Mutual might be termed
secondary. Mr.. Baird Mitchell. who
succeeded his father as president.
was not prepared TO give his rntir"
.tiine and energies to the Mutual. as
he elder Mitchell had done for many
PAR. Thus II was that tho plan for