| Show 0 ON im BANKING i t TRUST COMPANIES the ne trost trust company has well been et ibid the department store of it do for a man gitig inin in that can iatter breeds he be eds eeds done in a finance il dead or a alive I 1 ve it can accept dely o 0 falta 13 asa a national bank or a ik may do it can make loans MIJU to 0 other ther banks it receives accounts counts it may buy u bond aare cf of stoc stock k for a client but it cannot issue bank notes it has older der powers than cither either national ehte banks for by hw law it is eni owed with ith trust powers denied other financial institutions until ted rhe he federal reserve act was passed ing 0 po o jears years ago enabling national an As to also act in trust capacities rk rt git it this feature has not jet yet been alst aall id elj adopted by national bauks til lu jagt I 1 companies are under state i iH jand ard are examined exi mined and report 4 the minne r of state banks 4 the chief distinguishing feature ho if aibe the trust company is the trust gas above mentioned it may be I 1 the executor of your will it may be the guardian of your children you may have vou bour estate restate left dinits in its care and it will make investments collect the rents pay the bills and turn the proceeds over to whomsoever you designate it may certify that in a bond issue say of one hundred million dollars only one hundred million dollars in bonds have br ve been is sued thus preventing an over disuse of securities it mav transfer stock for corporations it may act as the trustee in a mortgage bond issue and hold bold the security that protects the bond issue it has broad varied and very useful and necessary powers and has become an indispensable oart vart of our present financial scheme we could not do business without it the chief benefit of the trust company t the individual lies in its power to act as the executor or trustee of estates if you make your will and name an individual as your executor he may die before you and another an other must be named he may die before your estate ia is settled and another must lake take up the work where he lays it down all sorts of complications are possible but the trust company never dies its life is perpetual it is surrounded by many legal safeguards it must invest the money ot ol your estate in certain prescribed securities whose value is the highest known in investment circles it has a force of trained men who know how to make investments keep books and render proper tic account aunt to the legal authorities and beneficiaries the officials are experienced men whose services command large salaries it has the machinery to do things right the fees for these services are usually the same as an individual would be entitled to and therefore its services are no more costly than private parties would receive with all the attl attending anding risk men mi in of prominence and those r who bo feel the importance of safeguarding their estate from waste and mismanagement are now making trust companies the executors or trustees under their wills knowing full well the risks of private administration and the benefits of corporate management A trust company can do all aba that t a bank can do and many things neither can do all of which functions have played a part in making these institutions not only prominent in the banking world but an invaluable part of vur modern civilization they thoy better after death can sere serve you it be well to call en cn join loial local trust company and ascertain hw in your station in life it can best serve you |
