The Washington times., 1925-05-23
TRUSTS SAFELY
HANDLED BY
BANKS
Advantages in Their Fiduciary
Services Told by officer of
National Metropolitan
Rx RICHARD HATTON.


That the public at large is COM
ing more and more to realize the
advantages of the fiduciary services
of national banks and trust conf
panies particularly in the admins.
tratiolF-Of wills and management or
estates, is the opinion expressed to-
day by Frederick DeCourcy Faust,
trust officer OF the National Metro
politan Bank. -
There has been no more out
standing development in the activl-
ties ofN<national banks" said Mr.
Faust. .'since the passage of the
Federal reserve act than the growth
and administration of voluntary and
testan1entary trusts by national
banks. and trust companies.
I'm brief said Mr.. Faust,
trust confided to a national hank
or trust company is the most eJ &c
tive and practical method by which
the principal of an estate may be
safeguarded in competent and ex-
perienced hands. 1t cannot De
sduandered; it will not be fooiishly
invested. and it will remain intact
until. il is finally distributed as the
creator of the trust has directed.
know of no better means by which
an inexperienceds person or one in
clined to .extravagence can be pro-
tected and relieved of the burden
and danger of the management. o.
property than by naming bank or
trust company executor and trustee
Of ones estate.
Assures Regular Income.
such action not only guarantees
the wise and careful Investment or
FUNDS. of estates by experienced ana
auccessful bankers. but 1t likewise
insures the regular and certain pay
ment of Income to the benef1clares
named during the administration OF
the estate and throughout the HE
Of the trust. ;.ouo
"A further important consldera-
tion is the fact that all estates are
handled by the trust departments
AZ our National banks and local
fr,,st companies are administered
fnder : the watchful eye of the
ComptnoIler of the Currency and
are amply protected by law
tits. interesting to note, con-,
tinued Mr.. Faust, that many
churches and other organizations
with charitable funds and endoW-
ments are turning to the trust de-
parfmAFits of our financial lnstltu-
lions for guidance and safety IN
the handling of their funds. In
this way our trust officers are
working Win the great benevolent
organizations for the benefit OF hu-
manitya But. what is perhaps more
important the funds collected Tor
such purpose are enabled to render
the maximum of service because
Of businessIike handling and invest
ment through trust departments.
I'm connection with trust service,
the Importance of this in relation to
life Insurance. is very great, SAID
Mr.. Faust. 1T has been estimated
that the people Of the United States
are defrauded out of millions OF
dollars annually through the i'll
considered Investment of life in
Ourance paid to widows and those
unfamiliar with business methods.
The figures given as the amount
OF this loss are astounding and any
one who will take the trouble to
look them up and consider what
they mean cannot fail to realize
the great importance to those to
whom estates are devised of -hav-
ing such estates left in trust. in
such a manner that a responsible
and legally restricted agent will pre-.
vent investment in wildcat securi-
ties or dishonest 'get-rich-quick'
schemes.
|. Advantages Offered.
The advantages of national
banks and trust companies acting
In fiduciary. capacities over indi-
Viduals are obvious. The bank has
continuity of existence and its rec
ord gives assurance of future sta
bility. Its officers are always
available for conferences, and are
prepared TO act without delay. It's
experience is composite. 1t has
the combined skill and judgment
of an Of its officers and directors,
each experienced in different lines
of business It's capital and surplus
10 a guarantee of responsibility. Its
duty is to carry out the provisions
of the will. 1t Will protect the in
terest of leach beneficiary.
We kre naturally proud OF the
fact thet the NationaI5 metropolitan
Bank Is not only t11eF oldest nation-
al bsSk in the District of Columbia
but also that it was the first bank
- the District of Columbia to be
granted fidcuciary powers by the
Federal Reserve Board"