Pittsburgh

Special Correspondence

GAINS BY UNION TRUST COMPANY OF PITTSBURGH

An increase of $14,000,000 in combined resources is reported by the Union Trust Company of Pittsburgh in its financial statement for June 30th as compared with the previous return of April 3, 1923. Resources

aggregate $160,058,955, embracing loans and investments of $114,210,648; U. S. Government securities, $24,745,933; cash on hand and in bank, $12,806,718; real estate and vault, $6,680,000. Deposits total $98,576,658. Capital is $1,500,000; surplus fund, $40,000,000; undivided profits, $1,691,601 and reserves, $6,290,696.

The trust department of the Union Trust Company handles a great volume of individual and corporate trust business. The latest statement shows amount due sundry estates $172,430,221. The company is trustee under mortgages aggregating in value $419,323,200; securities held thereunder, $64,241,845. As registrar and transfer agent the company handles securities with par value of $896,975,000.

PITTSBURG TRUST CO. STATEMENT President Louis H. Gethesfer's virile administration of the affairs of the Pittsburg Trust Company is evidenced in the steady growth of the company. The June 30th statement shows total resources of $21,208,000 with loans of $11,505,000; investment securities, $5,371,000; cash on hand and in banks, $3,305.000. Deposits amount to $15,382,000. Capital is $2,000,000; surplus, $2,000,000, and undivided profits, $444,282. The company administers estates and trust funds having value of $9,167,177.

COLONIAL TRUST CO. OF PITTSBURGH

The June 30th statement of the Colonial Trust Company of Pittsburgh testifies to the strength and steady growth of that organization. Resources total $25,563,145 embracing cash and due from banks, $3,146,273; loans, $15,336,238; investment securities $5,942,545. Deposits total $18,250,998. Combined capital, surplus and undivided profits amount to $6,847,323. The Colonial Trust Company has trust funds of $11,743,000 and corporate trusts of over $161,000,000. Following are the officers: John A. Bell, president; James C. Chaplin, vice-president; A. D. Robb, secretary; Thos. C. Stephens, treasurer; Nathan G. Eyster, asst. secretary; John W. Chalfant,

Pittsburgh

FIDELITY TITLE AND TRUST CO.

341-343 FOURTH AVE.. PITTSBURGH.

ESTABLISHED 1886

Acts in all trust capacities Trust accounts managed aggregate more than $100,000,000

Capital, surplus and undivided profits $6,700,000. Handles checking accounts of corporations, firms and individuals.

trust officer; Grant Curry, asst. trust officer; G. H. Matz, asst. trust officer; George A. Young, asst. treasurer; A. H. Wilharm, 2d asst. treasurer; Harry C. Bell, manager bond dept.; W. C. Short, real estate officer; George R. Haas, auditor.

PEOPLES SAVINGS & TRUST ABSORBS REAL ESTATE TRUST COMPANY OF PITTSBURGH

The Peoples Savings Bank & Trust Company of Pittsburgh has absorbed the RealEstate Trust Company with capital. surplus and profits of $4,000,000 and resources of $8,000,000. The Peoples recently absorbed the East End Savings & Trust, Liberty National, Liberty Savings and Squirrel Hill Bank. It controls the First National Bank of Pittsburgh, which absorbed the Peoples National Bank. A. C. Robinson is president of Peoples and D. P. Black headed the Real Estate Trust. Employees of Real Estate Trust Company will be retained by the Peoples.

Mr. J. Boyd McKown, secretary and treasurer of the Peoples Savings and Trust Company has been elected vice-president. Mr. W. S. Van Dyke was elected vice-president of the Peoples Savings and Trust Company. He was formerly vice-president of the Real Estate Trust Company.

Cleveland

Special Correspondence

CONSTRUCTIVE INFLUENCE OF CLEVELAND FOUNDATION

When the late Judge Goff established the Cleveland Foundation, which paved the way for the creation of community trusts in practically all of the largest cities of the country, he regarded as more potential its services for future civic and community betterment than the task of supplying current charitable needs. In accordance with that policy the Cleveland Foundation has been conducting research work upon a comprehensive basis to determine local requirements as to public education, recreational facilities, public health, etc. One of the most important researches was that relating to the administration of justice and court administration in Cleveland.

The disclosures which were made in connection with this survey have already brought forth very tangible results. The American Bar Association Journal, in its current issue, comments upon the decided steps which have been made in Cleveland recently in the direction of greater efficiency in the administration of justice in Cleveland. Although the Journal does not give direct credit to the facts brought out by the survey of the Cleveland Foundation, there is no doubt that the work accomplished by the Committee on Judiciary and Legal Reform of the Cleveland Bar Association was hastened by the publication of this information. Through this committee the Common Pleas Court Chief Justice bill was recently made law providing for centralized control and efficiency. Another bill passed provided for a thirteenth or alternate juror which is a saving to taxpayers. The committee has also recommended a bill for the appointment of a public defender, and is working to secure constitutional or statutory amendments to bring about consolidation of courts and better administration of justice.

The 1923 Cleveland Year Book recently issued by the Cleveland Foundation pays a high tribute to Mr. Goff and his contribution to banking and trust company practice. A particularly interesting chapter is that on banking and business by Col. Leonard P. Ayres, vice-president of the Cleveland Trust Company.

TENTH OFFICE OPENED BY UNION
TRUST COMPANY OF CLEVELAND
C. D. Hajek, assistant secretary of The
Union Trust Company, Cleveland, has been

named as the manager of the new office of The Union Trust Company to be opened at Kinsman and East 140th street, Cleveland, on July 14th. The establishment of this new. office is an interesting example of the manner in which the bank follows its clientele.. Three offices of The Union Trust Companythe Broadway, Buckeye and Woodland offices were established years ago in foreign districts. Even today most of the customers of the Woodland office are Jewish; the Buckeye office depends largely upon the business of the Bohemians, and the bulk of the clientele of the Broadway office is Polish.

These so-called foreign districts were crowded and closely built-originally typical. settlements such as form the immigration centers in most of our large cities. As the second generation of these Polish, Jewish or Bohemian immigrants became Americanized, however, and prospered, they began to move away from their old districts--and as a result they established for themselves a surprisingly handsome, typically American residential community, centering about Kinsman and East 140th street.

Nevertheless, they still retained their allegiance to the bank which they had known in their childhood and at which their parents still did business-The Union Trust Company. Consequently, in establishing this new office at Kinsman and 140th The Union Trust has simply followed the second generation of its customers to their new place of residence. Mr. Hajek, manager of the new office, came to The Union Trust Company in 1907 as a bookkeeper and has worked his way up to the position of assistant secretary.

CLEVELAND TRUST OPENS ANOTHER OFFICE

Providing the necessary banking facilities for a growing suburban community, The Cleveland Trust Company opened its 53d neighborhood bank, June 30th, at the corner of Lee and Tullamore Roads, Cleveland Heights. The new bank, known as the CedarLee Bank of the company, will provide, conveniently near, the services of a metropolitan bank. Savings, checking, investment, trust and real estate facilities are among the more important services.

W. C. Lamp. for several years at the Euclid-East 105th Bank of The Cleveland Trust Company has been named manager of the Cedar-Lee Bank. Cleveland Heights residents attended the opening of the new bank. Many of the bank's officers, including President Harris Creech, were present at the opening.

THE "GUARDIAN WAY" WITH CORRESPONDENT BANKS

A distinctive feature of the facilities developed by the Guardian Savings and Trust Company of Cleveland are the services rendered to correspondent banks and trust companies. The transit department, conducted by this company, is a model of efficiency, accuracy and speed, which is so essential today in expediting operations between banks and big business. It is, however, in matters outside of the routine that the Guardian strives to benefit its correspondents. Every problem presented by a correspondent bank or trust company receives the personal attention of officers who are especially qualified to handle such matters.

The growth of the Guardian continues undiminished. Only a few months ago the resources scaled the 100 million mark with five millions additional as a good margin, and with deposits coming very close to the 100 million line.

OHIO BANKERS ASSOCIATION

One of the most successful years in the history of the Ohio Bankers Association was that experienced under the administration of the recently retired president, Mr. W. H. Yeasting, president of the Commercial Savings Bank and Trust Company of Toledo. The work reviewed at the recent convention in Toledo disclosed progressive measures conducted under the direction of the Committee on Agriculture, the Committee on Publicity in relation to economic education and in cultivating sound legislation. A masterful address was that on "Public Service" by President Marion L. Burton of the University of Michigan. W. L. Allendorf, president of the Commercial Savings Bank and Trust Company of Sandusky was elected president of the association for the ensuing year.

C. D. HAJEK

Recently appointed Manager of New Office of Union Trust Company to be opened at Kinsman and East 140th Street, Cleveland

The current issue of The Cleveland Trust Monthly contains an exceedingly interesting article describing the good results obtained through the maintenance of a medical dispensary for officers, employees and customers of the company.

William T. Todd has become manager West Park Office of the Cleveland Trust Co. C. H. Handerson, publicity manager of the Union Trust Company of Cleveland, has been appointed the Financial Advertisers' Association's member of the National Commission of the Associated Advertising Clubs of the World.