Salt Lake Tribune | 1917-03-25 | Page 43 | Bank to Organize Trust Department

Nllf TO ORGANIZE TKUSTMlOff Continental National Authorized Au-thorized by Government to Establish Venture. The Continental National bank of Salt Lake is the first national bank in this section to be granted permission by the government to establish a trust department de-partment as one of the regular departments depart-ments of the bank. , No national bank can establish such a trust department without due permission per-mission and authorization and the requirements re-quirements that must be met before such permission is granted are very rigid. The authorization is authority for the bank to act as trustee, executor, administrator admin-istrator and registrar of stocks and bonds, and in fact to perform all duties du-ties ofa trust nature. Peabody, well known in local i.iTancial and banking circles, has been appointed trust oficnr of the bank and will be in charge of the bank's trust department. de-partment. Authority to inaugurate the trust department de-partment is granted under the provisions pro-visions of the federal reserve act.