Why the Higher Premium is Required for American Express Travelers Cheques It is not because these Cheques are accepted and cashed in every town and city in the world by practically every shop, store, hotel restaurant, transportation company, banking institution, express agent; and at seaports by customs agents for customs duties. It is because the American Express Company maintains exclusive, finely equipped offices in all the principal cities of the world, almost wholly to render assistance, gratuitously, to holders of its paper. It is because the American Express Company employs uniformed, experienced interpreters at nearly all seaports and railway terminals to assist travelers unfamiliar with foreign customs, currencies, languages and local conditions, entirely without charge. It is because ninety per cent of Americans going abroad know they are free to make their headquarters at American Express offices-there to meet other Americans, write letters, secure information, advice, or assistance, receive their mail, telegrams, periodicals, etc., sent to them in the company's care. They know they are welcome to use these special services without charge. It is because the American Express Company has complete travel organizations at its offices and can intelligently and reliably furnish everything for travel, including hotel accommodations, railway and steamship tickets, Pullman reservations and itineraries. Responsibility for the peace of mind and financial AMERICAN EXPRESS Co. Main Office: 65 BROADWAY, NEW YORK DIVISION HEADQUARTERS 922 Atlanta Trust Bldg., Atlanta, Ga. Ninth & Locust Streets, St. Louis, Mo. Market Street at Second, San Francisco, Cal. 15 North Wabash Avenue, Chicago, Ill. 521 Phillips Square, Montreal, Can~da WHEREVER YOU GO ALWAYS CARRY AMERICAN EXPRESS SUPPLYING "IGNITION" TO THRIFT AND SAVINGS The Harvey Blodgett Company has issued a booklet which gives some of the tangible results achieved in connection with the slogan which Mr. Blodgett has coined and nationalized "Double Your Savings-It Can Be Done." This message is being broadcasted through the breadth and width of the land by means of decalcomanias, stickers, electrotype, window transparencies, billboards, street car placards and other mediums. The attention-compelling decalcomanía, a window transparency in colors, may now be found in the windows of banks and trust companies in many cities and hamlets throughout the country. The poster stickers are being used by hundreds of thousands on the back of envelopes, savings bank pass books, check books, monthly statements, deposit slips and other mediums. As indication of the response the general sale of these stickers for the first three opening days amounted to over a quarter of a million. The slogan may also be used for newspaper advertising on electrotypes as well as for billboard, advertising. COURT DECISION FAVORS MECHANICS & METALS NATIONAL BANK An interesting case was recently decided by the Supreme Court of New York in favor of the Mechanics & Metals National Bank. It involved the claim of Alfred W. Seymour to compel the bank to issue to him as administrator of the estate of Thomas Williams, who died in 1822, stock to which he was Isaid to be entitled as holder of an alleged certificate for 67 shares of the old Mechanics Bank, with which the defendant bank was merged many years ago. The court ruled that the suit was barred more than fifty years ago by the statute of limitations. The Supreme Court also sustained the finding of the Appellate Division that "it would seem that any cause of action accrued while Cornell was executor, and if so, there is no cause of action." Cornell was acting executor of the Williams estate in 1823 and died in 1852. The bank also proved that every share of the bank's stock has a claimant. Douglas P. Simonson has been appointed an assistant cashier of the National City Bank of New York. An Indispensable Book to Every Bank and Trust Company The New Fifth and Enlarged Edition THE MODERN By FRANKLIN B. KIRKBRIDE Now ready for distribution. Price $6.75 postage prepaid Association, 55 Liberty St., New York Fifth Edition is of equal value to every National and State Bank as well as to Trust Companies. In scope it covers every department and phase of Banking and Fiduciary Finance, including the most approved forms of accounting, advanced standards and principles of practice. TRUST COMPANIES Magazine, Book Department 55 Liberty Street, New York. . 1923 Gentlemen:-Enclosed please find $6.75 (check or money order) for which kindly send me copy of the new Fifth Edition of "The Modern Trust Company," or you may send me copy on approval. Name. Address..... Make check or draft payable to TRUST COMPANIES Publishing Association, 55 Liberty Street, New York. NEW YORK COMMUNITY TRUST ESTABLISHES HEADQUARTERS Ralph Hayes Assumes Direction As an earnest of the determination of local banks and trust companies to give their united aid to the development of the community trust principle in New York City, beadquarters have been established at 120 Broadway. The offices were opened formally following a luncheon at the Bankers Club which was attended by officials of the various trustee banks and trust companies which have pledged their co-operation. Ralph Hayes, formerly assistant to Will H. Hays and recently elected director of the Community Trust, was present and assumed office. Mr. Hayes, who returned from Europe recently was named director in April. Frank J. Parsons, vice-president of the United States Mortgage & Trust Company, in relinquishing the office of acting director, which he had consented to take pending the selection of a permanent director, agreed, as alternate for Mr. John W. Platten, president of the United States Mortgage and Trust Company, to remain a member of the trustees' sub-committee, which effected the present organization. Mr. Alvin W. Krech, chairman of the board of the Equitable Trust Company, is chairman of the Trustees' Committee. Clarence H. Kelsey, chairman of the board of the Title Guarantee and Trust Company, explained the operations of the Community Trust as follows: "Individuals desiring to give during their lifetime, or under their will, any sum, large or small, for educational or benevolent objects, whether definitely specified or without any stated object, may place it in trust with any of the trust companies or banks associated in the New York Community Trust. "The trust company or bank accepts the gift as trustee and becomes responsible for its safekeeping. The disbursement of the income is directed by a distribution committee of 11 citizens, carefully chosen, six by a body of electors and five by the trustee institutions. Some of the distribution committee pass out of office yearly, so that the committee may always be representative of the most enlightened current opinion. "According to the direction of the distribution committee, income is distributed by the trust companies and banks for the purposes designated by the respective donors, or if there be no designation, to such objects as the committee may find most in harmony with the purpose of the trust and the best interests of the community. "One of the unique advantages of the Community Trust is that, under the authority conferred upon the distribution committee, donors receive the assurance that if by lapse of years the original beneficiary named has become obsolete, impracticable, or useless, the income from the gift will be devoted to some other object or purpose as nearly in line with the spirit of the gift as possible and this without unreasonable delay, expense, or litigation." |