Supreme Court, Pennsylvania, cited, 156
United States, on bank control, 19 "ruled of reason," 342 trust decisions, 341 Sureties. See Fidelity insurance Surplus, executor's disposition of, 61 legal requirements as to, 18 Syndicate underwritings, 78, 136,150
Tax, estate, federal, operation of, 201
services rendered by fiduciary,
uniform method advocated, 206 state, 204
uniform method advocated, 206 income, federal, operation of, 198 when paid by fiduciary, 199 state, services rendered by fidu- ciary, 201
inheritance, state, injustices of, 204
operation of, 202
services rendered by fiduciary, 201
transfer, in New York, 202 Taxation, of private property, prescribed by law, 17
trust company's services in mat- ters of, 199-207
uniform method advocated, 206 Taxes, increase personal trust busi- ness, 342
influence upon real estate financ- ing, 102
new kinds levied, 341
payment of, by executor, 59 Tawney, R. H., quoted, 178, 191 Terminal trust deeds, 90
Terms for trusts and agencies, by-
law quoted, 319 Testamentary disposition of prop- erty, history of, 211 Testamentary guardian of property of infant, 63, 64 Testamentary trusts, 47, 61-64, 321-323
Time changing agencies, 3 Time deposits and personal trusts, distinctions, 316-321
Time limit for assembling claims, 60
Tioga Navigation Company, 277 Title insurance, 13, 154-163 and trust services, 314-316 companies, 315 development of, 159 equipment or "plant" necessary, 156
liability of insurer, 159 types of risk insurable, 162 unprofitable for small companies, 158
Titles, real estate. See Real estate titles
Tobacco Trust, 341
Torrens system of registration of title, 160
Towns, growth of, 262 Trade-unions. See Labor Trading services.
Transcription of real estate records, 156
Transfer agent, 142-147
development of trust company as, 291-295
Transfer tax in New York, 202 Transportation, inland, develop- ment of, 232, 251, 262 Traveling arrangements, broker- age of, 134
Trust, definitions, legal, 37
legal and equitable concepts of, history, 214-226
before the Statute of Uses, 214 deed, history of, 222-226
as basis of corporate trust deed, 297
See also Deed of trust department, analysis of functions, 25-28, 32 deposit, 125
since the Statute of Uses, 221 misuse of "Trust" in titles, 21 nature of a, chapter on, 44-52 creation of; classifications, 47 distinguished from agency, 38, 120
from contract, 44 parties involved, 47 qualifications of parties to,
in the South and West, 343-345 insurance and banking services performed by, chapter on, 153- 174
limitation of numbers, 336, 337 nature and legal status of, chap- ter on, 3-23
not permitted to insure titles, 161 of labor unions, 192-195 organization of, and classification
of services, chapter on, 24-43 rendering personal agency serv- ices, list, 325
replying to questionnaire, analy- sis of, 388-390; tables, 389 vs. individuals as fiduciaries, 479– 486
See also Corporate fiduciaries company, definition of, 4, 23 first great move to develop, 257 first used in title, 257 practices, criticisms of, 481 questionnaire, chapter on, with tables, 385-390
services, differentiation and spe- cialization, 325-329 list of early "life insurance and trust" companies, 326 "loan and trust," 329 "savings bank and trust," 328 "trust" companies, 327
Trust companies-Continued economic, social and political, 3 aspects of, chapter on, 175–
expansion of, chapter on, with
tables and graphs, 391-417 forces causing growth, 412 seeking small estates, 398 special and unique services, 409 supervision, development of, 329- 339, 345-354
vs. bank controversy, 345–350 vs. lawyer controversy, 365-370, 470
conference, 323, 328, 365
See also American Bankers Asso- ciation
powers of early corporations, cor- porate services, 272-278 personal services, 238-272 services, for corporations, chap- ter on, 79-91
for individuals, chapter on, 53-78 chart showing handling by ex- ecutor, 62 by trustee, 76
for individuals or corporations, chapter on, 92-118
geographical distribution of, 153 Trust Companies Magazine, 366, 385
Trust Company Division, Ameri-
can Bankers' Association. See American Bankers' Association "Trust Company Law," 5 Trust Company of America, 354 Trust investments, funds, invest-
ment of, with tables and graphs, chapter on, 418-453 difficulties in the way of " secu- rity" diversification, 442-444 diversification by corporate fidu- ciaries, 427-429
by individual investors, 429- 432
comparison, 432-434 principles of diversification, 434- 438
proportion in various types of securities, 422-427
speculative nature of stocks and bonds, 438-442
office of, in case of bankruptcy or
reorganization, 92-97 qualifications, 49
states and municipalities named as, 303
trust company as agent for, 132 under corporate trust deed, 79, 82 agency functions, 83, 86, 137 duties and liabilities, 82-91 earliest examples of, 276, 296 in early railroad financing, lists and graph, 302-309 reduction of liability, 87 safeguarding interests of bond- holders, 86
sinking fund management, 139 under last will and testament, 63 Trustees, Board of, 230, 234 Trusteeship, continuous, 232-234
history of, chapter on, 211-226 legal and equitable concepts of, 214 prior to the Statute of Uses, 214 since the Statute of Uses, 221 Trusts, classification of services, 41 standardization of requirements in performance of, 362 community, 109-114, 377
Trusts-Continued
court, 48, 64, 321-323 inter vivos. See Living trusts in- vestment, 114-118, 244, 376, 444, 446
personal, 47, 316-321, 323 expansion of service, 391 growth of, in New York, 371
graph, 371; table, 373 real estate, 98-109, 377 testamentary, 47, 61-64, 321-323 Tuscumbia, Courtland and Decatur R. R. Company, 273 Tyrrel's case, 1557, cited, 222
Underwriter of security issues, 78, 136, 150
Uniform Trust for Public Uses, 377. See also Community trusts Uniformity in departments, lack of, 31
of practice, 361-370
Union Insurance Company, 236, 237 Union Trust Company of New York, 296, 317, 335 Union Trust Company of Pitts- burgh, 373
United Company of Philadelphis
for Promoting American Man- ufactures, 230
United Railroads of New Jersey, 272 United States, Comptroller of the
Currency, supervision by, 338 distribution of capital in, with
tables and graphs, 394-402 Secretary of the Treasury, 381 recommends federal supervision, 351
Treasury Department, letter on loss of bonds, notes and cou- pons, quoted, 312
United States Bank, 265, 290 United States Trust Company, 153, 295, 317, 318, 330
Use in feudal system of land tenure, 214-225
Uses, Statute of, 214-222
Variability as a factor in invest-
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