Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-06-13
PICTURES ACTIVITY
IN TRUST SERVICE
Banker Tells A. |. B. Conven-
ton of Strange Cases Han
died by His Department.
Special Dispatch to The Star.

OF Trust company acJ1VltleS through
which people have come to know of
their humane attitude toward those
whose estates have been committed to
their guardianship were presented by
Alexandria p. Reed vice president and
trust officer. Fidelity Trust Co. of this
city, at the American Institute of
Banking convention here in depart
mental conference On trust functions.
The trust companies are employing in
their trust departments men of SYM
pathetic understanding who are not
content merely to fulfill the legal obi
cations imposed upon them by the
will or trust agreement, but are as
Stunning the moral obligation Of caring
for the widow. the orphan and the de-
pendent beneficiary entrusted to their
care. he said. He tod of one case
where trust company Influence had
been instrumental in breaking off an
engagement and winning for the Young
woman concerned a much more desira-
bic husband.
Eank Helps IS Orphans.
"At the present time I have 10 boys
and girls who have no fathers or
mothers" Re said. Il buy their clothes,
hep select their schools, pay their
tuition. give them spending money, see
tIACI NlIGF ltIt4hG pAOENl IllNN4Noi Oi4N
dental attention and do everything in
my power to be a father to them.
"A man died in Pittsburgh several
years ago, leaving substantial estate
and one son. The man, tailor, had
frequently made clothes for Henry Clay
Frick, whom he asked how he should
invest his money Mr. Prick told him
if he put his money in steel, then SELL
ing at 10 TO -. some day his son would
profit by it. The man left 1000 shares
Of this stock. The. boy was 16 when
his father died. Itshad been the ia
theirs practice to give his son Is cents
a week spending money and to demand
an accounting. The trust officer in
charge of this case, realizing the boy
would come into considerable money,
decided to increase his allowance to $50
per month At the end Of six months
he rendered an accounting which
showed that of the S120 he still had
$50 in bank That young man. en-
couraged by one of our trust officers,
went through college. graduated from
Harvard Law School and is now a mem
Der Of the bar"
Other Fascinating Cases
Mr. Reed recalled a family of three
girls and boy without father or moth
er. Rather than place them in an
orphan asylum. Mr. Reed got a distant
relative to care for them. He got a
Job for the boy and encouraged him
to go to night school. He is now a
certified accountant, said Mr. Reed
Two Of the girls are stenographers and
the third is with the Bell Telephone
Co. Here was a family kept together
on an income of less than $1,000 a
year he said He next told of a pro-
fessional man who left a widow, three
daughters and a son.
The boy wanted to leave school, .
he said. II pointed out that he was
head of the family. should obtain an
education and make good out of re-
spect for the memory of his father
I changed his preparatory school, The
instructors there encouraged him and
helped him pass his college board eX-
aminations. He entered Princeton In
February he wrote announcing he stood
in the upper fifth of his class.
The TWO younger girls are attending
a school I had investigated and recon-
mended to the mother The older girl
was a source of worry to her mother
She announced her engagement to a
young man the mother thought un-
worthy. Upon investigation I found
the boy had been dismissed from sew
eral preparatory schools and had never
been able to hold position more than
six weeks. At Christmas the mother
told me she had used every argument to
oppose the match, but had finally given
in. She asked me if I had any sug-
gestions. 1 suggested trip to the West
Indies might prove helpful A few
weeks later the mother told me she
wanted to thank me for the sugges-
ton. The girls had met two young men
on the boat and her daughter had had
an opportunity to make a comparison
between them and the young man at
home. OF her own free will she de-
Cided to break off the engagement. I
am pleased to report the young lady
is now happily married to one of the
men,"
Service Most Varied.
Mr.. Reed remarked that all trust
officers cannot break up engagements
or find husbands for their wards. but
that when the public realizes that the
trust officers are interesting themselves
IN the lives Of their benefciaries the
prejudice against them which existed
for so many years is being overcome.
He noted that the modern trust depart
ment must be prepared to continue or
hquldate going business. I'VE at the
Fidelity" he said, have published a
newspaper. run a hotel. a general in
surance agency. an undertaking estab-
lishment, a coal mine and several small
manufacturing concerns.
"A trust company came into posses-
sion of racing stable with 81 horses.
The teStator died in December and the
question presented was whether the
horses should be sold at once or a
trainer engaged to sell them in the Spring
at the race track. The latter course
was adopted and the trust company not
only made money by racing the horses
but obtained a much better price than
would have been obtained if they had
been sold in the Winter"