THE HOGGSON A Single Contract and a guaranteed limit of cost for a complete building operation. Write for Method Book NEW YORK CHICAGO NEW HAVEN ATLANTA Pittsburgh Brevities Louis H. Gethoefer has resigned as president of the Bankers Trust Company of Buffalo to accept the office of president of the Pittsburgh Trust Company, succeeding James I. Buchanan. At an organization meeting of the board of directors of the Commonwealth Trust Company, the following officers were elected for the ensuing year: President, John W. Herron; vice-president and treasurer, George D. Edwards; secretary, D. H. Thomas; assistant secretary-treasurer, C. D. Richardson; assistant secretary-treasurer, C. W. Orwig; trust officer, George H. Stengel; assistant trust officer, William Hageman; assistant trust officer, Edwin W Rieger. At a meeting of the directors of the Mellon National Bank of Pittsburgh, early in the week, important changes were made in the personnel of the official staff of this big institution. These included the advancement of Walter S. Mitchell from cashier, to vice-president; A. W. McEldowney, from assistant cashier to vice-president, and B. W. Lewis from assistant cashier to the cashiership. H. S. Zimmerman, formerly an assistant cashier, becomes the assistant cashier. Growth of the Citizens Trust Company of Utica Organized in 1903 the Citizens Trust Company of Utica, New York, has steadily increased its deposits to a total of $7,035,000, representing 20,000 accounts. The Dec. 31, 1915 statement shows capital of $500,000, surplus and undivided profits of $556,504. At the last annual meeting Mr. Charles A. Powell and Hon. Charles W. Wicks were elected members of the board of directors, succeeding Messrs. G. G. Clarabut and G. I. Hovey who retired in anticipation of the law governing interlocking directorates. Mr. William I. Taber, president of the Citizens Trust Company, was recently elected a member of the board of directors of the Massachusetts Mutual Life Insurance Company, succeeding the late Col. E. D. Metcalf of Auburn. A Budget of New Trust Company Publicity Literature One of the most prolific publicity and new business departments is that conducted by the Security Trust & Savings Bank of Los Angeles, Cal., which is under the management of Mr. E. G. McWilliam who is widely known as the former Secretary of the Savings Bank Section of the American Bankers' Association. The "bouquet" of folders and booklets issued by this department with the advent of the new year shows both variety and exceptional quality. One of the folders is entitled "Security for Savers" and dwells particularly on the case with which accounts may be opened by mail. Special forms are provided for deposits or withdrawals by mail and "Uncle Sam" does the rest. At the present time the Security has 93.000 depositors and over $43,000,000 resources. During the past year there was a gain of over 4,000 in the number of depositors. A neatly printed little card calls upon the reader to open the book of 1916 with renewed confidence and the need of profiting by the experience of the past. At the present rate of progress it is readily conceivable that the "Security" will attain its goal during the current year of acquiring a full 100,000 depositors. Union Trust Company of San Francisco As the "oldest trust company in California" the Union Trust Company of San Francisco invites attention to its Dec. 31, 1915, statement of condition, showing aggregate resources of $30,903,000, with deposits of $27,365,676, capital of $1,200,000 surplus and undivided profits of $1,815,818. The senior officers are: Isaias W. Hellman; I. W. Hellman, Jr., vice-president and manager; Charles J. Deering, vice-president, and H. Van Luven, cashier and secretary. The trust department is under the management of L. E. Greene. 30th YEAR OF SERVICE Mercantile Trust & Deposit Company OF BALTIMORE Capital, Surplus, and Undivided Profits, $4,695,402 Largest capital and surplus of any financial institution in Maryland, or any Southern State. We offer our services in any or all of the capacities properly exercised by Trust Companies, and will give the most careful attention and the benefit of our long experience to all matters entrusted to our care. At a meeting of the board of directors of the Baltimore Trust Company, Wednesday, William Ingle, until recently chairman of the board of the Federal Reserve Bank of Richmond, was elected president to succeed Douglas H. Gordon. The selection of Mr. Ingle for this position was favorably received in local banking circles. Most of his business career was spent with the banks of this city. He was formerly vice-president of the Merchants-Mechanics National Bank of this city. At the same meeting Samuel C. Rowland resigned as vice-president, as did Thomas H. Bowles as chairman of the board. Maryland Trust Company Annual Meeting The annual meeting of the stockholders of the Maryland Trust Company was held recently, and the retiring board of directors was re-elected with the exception of A. Barton Hepburn, chairman of the board of the Chase National Bank; James L. Sellman of Baltimore, and George C. Jenkins. Mr. Hepburn and Mr. Sellman declined re-election, it is understood, on account of the inter-locking directorate law which be A. H. S. POST, President comes operative this year, and Mr Jenkins declined re-election on account of the pressure of other business obligations. In his annual address to the stockholders, President L. S. Zimmerman characterized the business of the past year as the most satisfactory for many years, and the prospects for the future as being exceptionally bright and promising. The dividend rate was recently increased to the annual basis of 5 per cent. At the meeting of the newly elected board all the retiring officers of the company were re-elected. Creating Investment Clienteles Within recent years trust companies have made marked progress in broadening the field of investors through the operation of bond departments or by offering special facilities to small investors. The Wachovia Bank & Trust Company of Winston-Salem, N. C., has been exceptionally successful in popularizing a "cumulative investment plan." It appeals especially to savings depositors who are not in position to invest in bonds of the larger denominations and applies also to mortgage investments. Payments are made monthly or quarterly and proceeds invested in bonds or mortgages. The company takes entire mortgages and divides them into $500 and $1,000 bonds. CONDITION OF BALTIMORE TRUST COMPANIES Cleveland Special Correspondence Advancements at the Guardian Savings & Trust Company At the recent annual meeting of the Guardian Savings & Trust Company, as a consequence of the resignation of second vice-president Mr. Charles L. Mosher, owing to ill health, a number of executive changes and promotions were made. The vice-presidents ranking after Mr. Mosher were all advanced one grade as follows: H. C. Robinson was advanced from third to second, George F Hart from fourth to third and J. A. Mathews from fifth to fourth vice-presidencies, respectively. Among the junior officers, W. R. Green, assistant treasurer and auditor, was made assistant secretary and auditor; A. G. Stucky, assistant secretary, was made assistant treasurer; A. R. Fraser was made an assistant secretary, and L. E. Holmden assistant treasurer. C. L. F. Wieber was elected to the Guardian board in place of George H. Worthington. The auxiliary board was increased to twenty members, the additions being C. W. Brainerd, F. S. McGowan, J. R Mills, W M. Pattison, J. P. Pearce, E. A. Petrequin, W. L. Robison, S. P. Shane and A. B. Taylor. It is understood that if any resignations of directors take place later under the Clayton Act the auxiliary will furnish representative men for the places. The placing of the mammoth Roman pillars in the front of the new building that will in future house the Guardian Savings & Trust Company was a matter of general public interest recently. The building will unquestionably be, when completed, one of the most imposing structures in the city and with the improvements will cost considerably in excess of $1,000,000. The Guardian reports total resources of $33.984,000, with capital of $2,000,000, surplus and undivided profits of $2,247,000 and deposits $29,686,000. H. P. McIntosh is president. Changes at Citizens Savings & Trust Co. George P. Koelliker was elected secretary of the Citizens Savings & Trust Company at the annual meeting. He succeeds to a vacancy caused by the death of George Lomnitz during the past year. Mr. Koelliker has been assistant secretary for several years. He commenced his banking career as a stenographer under VicePresident J. R. Nutt, studied law in his spare moments and was admitted to the bar. G. W. Grandin and Walter C. White are new members of the Citizens board of directors They fill previously existing vacancies. Warren Bicknell, B. W. Housum and Harry L. Vail were added to the advisory board. H. C. Swartz Joins Staff of Francis R. Morison Francis R. Morison, the well-known financial advertising specialist of Cleveland announces that he has engaged the services as associate counsel of Mr. H. C. Swartz, formerly adverising manager of the Cleveland Trust Company. Mr. Swartz was educated in the high schools of Columbus and Ohio State University and has had considerable experience in the practical side of advertising. He spent some years as a commercial artist and was also connected with advertising agencies, lithographers, engravers and printers. During the last two and onehalf years he has been advertising manager of the Cleveland Trust Company. He is a member of the Cleveland Chamber of Commerce and the Cleveland Advertising Club. He is also a charter member of the Financial Advertisers' Association, and at the first meeting of this organization was appointed secretary. New Secretary for Superior Savings and Trust Company Director of the Superior Savings & Trust Company, of which Col. J. J. Sullivan is president, recently elected A. M. Corcoran secretary of the institution, succeeding P. J. Darling, who resigned some time ago. F. C. Schlundt, auditor, was made assistant secretary, the position formerly held by Mr. Corcoran, at the same time retaining the title of auditor. Dwight A. Cary was promoted from the ranks to assistant secretary. W. S. Blossom, vice-president of the Bingham Company, was added to the board. The directors of the Cleveland Trust Company were re-elected at the annual meeting and the board organized for the year by re-electing all officers, with the addition of two of junior rank. F H. Houghton was appointed assistant treasurer and H. H. Allyn assistant trust officer. The First Trust & Savings Bank gained $5.623.911 in deposits during the past year, resources now aggregating $15,353,000. SPECIAL DIRECTORY OF COLLECTION BANKS AND TRUST COMPANIES NOTICE-The banks and trust companies in this list have exceptional facilities for collections in their respective cities. Birmingham...... Baltimore.. Battle Creek... Detroit.. Kansas City.. Buffalo.. Cincinnati.. Philadelphia.... Dallas.. Seattle..... ALABAMA .Birmingham Trust and Savings Co.-Capital $500,000. Surplus $500,000. Arthur W. Smith, President; Tom O. Smith, Vice-President; Wm. H. Manly, Cashier. The very best facilities for handling collections. MARYLAND First National Bank.-Capital $1,000,000. Surplus and profits, $400,000. Deposits $7,000,000. H. B. Wilcox, President; Wm. 8. Hammond, Cashier. Send us your Baltimore and Maryland business if you want prompt and satisfactory returns at reasonable rates. MICHIGAN The Old National Bank. Capital $200,000. Surplus and profits The People's State Bank.-Capital and surplus, $3,000,000.00. Geo. MISSOURI Commerce Trust Company.-Capital, $1,000,000. Surplus and undi- NEW YORK The People's Bank.-Capital $600,000.00. Surplus and profite $700,000.00. Deposits $9,000,000.00. A. D. Bissell, President; C. R. Huntley, E. H. Hutchinson and E. J. Newell, Vice-Presidents; Howard Bissell, Cashier. Send us your Buffalo collections and you will receive prompt returns at low rates. OHIO .The Union Savings Bank and Trust Company.-Capital $1,000,000. PENNSYLVANIA Farmers & Mechanics National Bank. Organized 1807, Capital $2,000,000. Surplus $1,300,000. Deposits $15,000,000. Active and reserve accounts of Trust Companies and Banks invited. Howard W. Lewis, President; Edward S. Lewis Cashier. TEXAS .Dallas Trust and Savings Bank.-Capital $300,000; surplus and undivided profits $215,624; stockholders' liability $300,000. S. J. Hay, President; Ernest R. Tennant, Secretary. Special collection facilities. WASHINGTON Northwest Trust and Safe Deposit Co.-Capital $70,000. E. Shor rock, President and Manager; Alexander Myers, Secretary and Treasurer. Special facilities for collections. |