The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-06-10
FURTHER CAPITAL
FOR EXPANSION IN
BIRMINGHAM FIELD
Locomotive Engineers Acquire
Controlling Interest Feder-
ated Bank & Trust Co.

Official Information was received
Saturday that the Brotherhood of
Locomotive Engineers. in addition to
acquiring the controlling interest of
the Empire Trust company of New
York, had also gained the controlling
interest in the Federated Bank and
Trust company of Birmingham.
For some time past the Brother
hood Holding company. owned by the
Brotherhood of Locomotive Engi-
neers, has made a close study of the
financial and economic factors Of
Birmingham and the state of Ala
bama. having had its corps of ex-
perts here. William B. Premier,
treasurer of the Brotherhood of Lo-
connective Engineers, and George Z.
Webb. vice president of the Brother
hood Holding company, visited the
city some few weeks ago, with the
result that the Federated Bank and
Trust company was selected as the
central point for the south of
banking system which. before many
years. will cover the United States.
w. w. Gard, selected to represent
the Locomotive Engineers. has ar
rived in Birmingham. where he now
Is connected with the Federated
Bank and Trust company as vice
president and cashier. He will be-
come a permanent resident of Bir-
mingham.
Mr.. Gard is recognized as a thor
ough and very able banker, having
had several positions of great i'm
portance in the Ohio Bankers asso-
citation. AS a member of the eXecu-
tive council, he was selected to draft
the Ohio state bank bill. now recog-
nized as one of the finest pieces of
legislation ever passed by the Ohio
legislature.
During the World war Mr.. Gard
became very prominent in financial
matters in Ohio by being chosen to
organize the war chest and Red
Cross finances for Licking county in
addition to the Liberty loan and
stamp committee. He is thirty
Shriner, Elk and past president and
honorary member of the Newark,
Ohio, Kiwanis club.
On July l, Mr.. Lathem. who has
served the Federated Bank and
Trust company as vice president,
ness. He will be succeeded by j. &.
DeHoll, who has served this institu-
ton since its organization. Mr.. De-
Holl has been resident of Birming-
ham for many years and is we'll
known in fraternal, social and bust
ness life. He Is member of the
Brotherhood OF Locomotive Engi-
neers. Scottish Rite, Kamram Grotto
and B. p. o. e. 10.
Mr.. Rossiter. president of the
bank, is also an old resident of Bir
mingham and Is well and favorably
known.
This announcement, coming at this
time. should prove conclusively to
the community that Birmingham is
being rapidly appreciated by the
large institutions of the United
States. and the introduction of ma
tional organization like the Brother
hood Holding company with it's $780,
100000 capital entering Birmingham
to become part of Birmingham
cannot be too highly estimated.
Cooperative banking, as initiated
by the Brotherhood of Locomotive
Engineers, has been strongly recog-
nized and Endorsed by the greatest
financial minds of the world. This
will be the fundamental policy of
the Federated Bank and Trust com
pany.
w. T. Lathem, who is to retire from
the vice presidency. announced Sat
urday that he is negotiating connec-
ton with another Birmingham bank
and would have a formal statement
later