PRIZES FOR BEST NEWSPAPER AND PERIODICAL ADVERTISING

There is an especial appeal to the writers of financial, banking and trust company advertising in the announcement recently made by Edward W. Bok that he has founded a series of eight annual awards for the best newspaper and periodical advertising in the United States and Canada. The awards will consist of a gold medal and $8,500 in cash prizes to be distributed each year. The awards will be administered by the Harvard Business School and it is interesting to note that Mr. Wallace B. Denham, dean of the Harvard Graduate School of Business Administration is an old time trust company man having been formerly a vice-president of the Old Colony Trust Company of Boston.

There is no type of advertising in newspapers or periodicals which lends itself with greater versatility to the kind of service and useful purpose which the Bok prizes are intended to stimulate than bank and trust company advertising. It is not merely the

typography and technical make-up but also the quality and the appeal of the advertisement that will count for points in the awards. It is significant that at the annual advertising exhibitions in connection with the conventions of the Advertising Clubs of the World the financial exhibits of the Financial Advertisers' Association set the highest standard of excellence in construction and quality. Certainly some of the Bok awards should go to the talented writers of bank and trust company advertising.

The Wilmington (Del.) Clearing House Association is considering the adoption of a bureau of clearing house examination along the line of that now existing in Philadelphia.

A constitutional amendment has been passed by the Florida Legislature which, if approved at the general election, will provide that no income or inheritance tax may be levied in that State during the next twenty years. Sounds too good to be true.

Capital, Surplus and Profits

$3,066,735.53

FRED G. BOYCE, Jr., Vice-President

NEW HOME OF THE HUGUENOT TRUST

COMPANY

The new home of the Huguenot Trust Company of New Rochelle, N. Y., which was formally opened to the public on September Sth, is a very artistic and attractive structure. It provides ample accommodation for "the fastest growing bank in New Rochelle." The main banking room is flooded with light from large windows which brings out the hospitable and inviting effect of the interior.

The Huguenot Trust Company began business in 1910. A recent statement shows total resources of $3,922,187 with deposits of $3,612,219 representing an increase of nearly $600,000 within the past year. Capital is $150,000; surplus and undivided profits, $149,354. The officers are: Charles W. Bryan, chairman of the board; Raymond J. Walters, president; Michael J. Martin, vicepresident; George E. Galgano, vice-president; Everett A. Culp, secretary and treasurer;

NEW HOME OF THE HUGUENOT TRUST COMPANY, NEW ROCHELLE

A. H. S. POST, President

Joseph A. Seaborg, assistant secretary-assistant treasurer.

The new building of the Huguenot Trust Company was designed and construction supervised by A. C. Bossom, architect of New York. The building is of Romanic design on the Ionic order. An artistic frieze circles the exterior of the building between the second and third floors, the interior is of exquisite design and equipment with one of the prin cipal features the massive wrought iron chandeliers. Executive offices are provided with accommodations that afford direct contact with the public. The banking rooms are finished in Tavernal marble and bronze. The ladies' department is also attractively equipped. The vaults and safe deposit facilities are of the most modern type.

GUARANTY TRUST COMPANY AN. NOUNCES LIFE INSURANCE TRUST PLAN Following an extensive survey of the various forms of Life Insurance Trusts in use throughout the country the Guaranty Trust Company of New York has made announce ment of a simplified plan which provides for the trusteeing of policies or the deposit of securities to pay premiums. The respective types of life insurance trusts are described in a booklet just issued by the company bearing the title "Trusteeing Your Insurance." It sets forth the necessity of protecting the proceeds of life insurance, and the various adaptations of the insurance trust provisions in behalf of surviving members of the family, for children's education, for relatives, business fund or marriage portion, for payment of taxes, for charitable purposes, etc. The merits of the funded insurance trust whereby estates are created by devoting income from securities deposited in trust to payment of life insurance premiums, are also described. The booklet is one of the most ably written on the subject.

NEW YORK COMMUNITY TRUST NAMED AS RESIDUARY LEGATEE

Renewed stimulus has been given to the organization and activities of the New York Community Trust since Mr. Ralph Hayes assumed the post of director with headquarters at 120 Broadway. Several weeks ago the United States Mortgage & Trust Company announced through President John W. Platten, that in a will naming the company as co-trustee the New York Community Trust is made residuary beneficiary. Under the provisions of the will the life use of the estate went to the wife and brothers of the testator with provision that upon the death of the last survivor, it should go to the Community Trust.

More recently the Manufacturers Trust Company announced that the New York Community Trust has been made the residuary legatee in a will naming the trust company as trustee. The notification was contained in a letter from Walter McMeekan, vicepresident and trust officer of the Manufacturers Trust Company, to Director Ralph Hayes. Mr. McMeekan advised that upon the death of the testator the property goes to his two children, and should both children die without issue, the income from the estate would be administered through the New York Community Trust for charitable purposes.

Several additions were recently announced to the banks and trust companies of New York which are associated in the Community Trust. The Chase National Bank is the first National bank to become a trustee under the Community Trust. Shortly after the adoption of the resolution by the directors of the Chase National the Seaboard National Bank announced that it had associated itself with this plan for community work. The following is the list of trust companies and banks which compose the trustees: American Trust Company, Equitable Trust Company, Fidelity-International Trust Company, Kings County Trust Company, Manufacturers Trust Company, Title Guarantee and Trust Company, U. S. Mortgage and Trust Company, Chase National Bank and Seaboard National Bank. Additional announcements are expected to be issued in the near future.

"The American people are spending two dollars for automobiles for every three dollars of outlay for new buildings," says the Cleveland Trust Company in its Midmonth Business Bulletin for September. "During the past four years motor expenditures have amounted to about $6,600,000,000 and those for new buildings about '$10,000,000,000.

"Hand them a letter

to this Bank”

Your patrons

and
friends visiting
California will be ex-
tended every courtesy
and consideration at
the Security Bank if
they bear a letter of
introduction from you.

Resources Exceed
$195,000,000

Over 260,000
Accounts

APPOINTMENTS

AS

Following are among the latest advices in regard to the appointment of trust companies and banks of New York as transfer agents, registrars, fiscal agents and as trustees under corporate indentures:

The Bankers Trust Company has been appointed transfer agent for the 7 per cent. cumulative preferred stock of the Public Service Electric Power Company; registrar for the preferred and common stock of the United States Paper Manufacturing Corporation; transfer agent for the stock of the Westland Oil Corporation; registrar in New York for the stock of the St. Louis Coke and Iron Company; transfer agent for the capital stock of Park & Tilford, Inc.

The New York Trust Company has been appointed registrar of Empire Trust Company certificates of deposit of Minneapolis & St. Louis Railroad Company first and refunding 4 per cent. bonds and of Iowa Central Railway Company first and refunding 4 per cent. bonds; transfer agent of the United States Paper Manufacturing Corporation preferred and common stock; registrar of the American Arch Company, Inc., capital stock; trustee of Carolina Abrasives Company first mortgage gold bonds dated May 1, 1923; registrar of Park & Tilford, Inc., capital stock.

The Metropolitan Trust Company has been appointed registrar for the $25,000,000 7 per eent. cumulative first preferred stock and $15,000,000 common stock of the Public Service Company of Colorado. This company is a consolidation of The Western Light & Power Company and The Denver Gas & Electric Light Company, and stocks of each of these latter companies are to be deposited with the Metropolitan Trust Company for exchange into the first preferred shares of the new Public Service Company of Colorado. The United States Mortgage & Trust Com

REGISTRARS,

pany has been appointed registrar of the common stock of the Westland Oil Corp.

The Equitable Trust Company of New York has been appointed transfer agent for the stock of the Kresge Department Stores.

The Guaranty Trust Company of New York has been appointed transfer agent for the stock of the Consolidated Credit Organizations, Inc., consisting of 50,000 shares of common stock, par value $10 per share, and 4,000 shares of preferred stock, par value $100 per share; transfer agent for a new issue of stock of the Securities Corporation 'General, consisting of 50,000 shares of common stock and 50,000 shares of first preferred stock, without any par value.

The Seaboard National Bank has been appointed transfer agent of the capital stock of the American Arch Company.

The Empire Trust Company has been appointed depositary The Minneapolis & St. Louis Railroad Company first and refunding 4 per cent. gold bonds, due 1949, and The Iowa Central Railway Company first and refunding 4 per cent. fifty year gold bonds, due 1951; registrar The Continental Clay Company; trustee The Oriental Navigation Co., Park-Lexington Corp.

The Central Union Trust Company has been appointed registrar for the Public Service Electric Power Company for 60,000 shares of 7 per cent. cumulative preferred stock of $100 par value; transfer agent for the Midland Steel Products Company for 100,000 shares of 8 per cent. participating cumulative preferred stock of $100 par value.

Irving Bank-Columbia Trust Company has been appointed transfer agent of the capital stock of the Haytian Corporation of America.

The Chatham & Phenix National Bank has been appointed transfer agent of the Continental Clay Company's preferred stock, and classes A and B common stock.