From: "Newark, the City of Industry" Published by the Newark Board of Trade 1912
No better barometer of the growth of a city can be found than the progress of its banks and trust companies. The financial institutions where the saving of the masses of the people are kept, and from which come the sinews of war for a city's campaign for commercial supremacy, are the best means of gauging accurately the relative importance of that city in the world's business circles. If the deposits are large it shows the thrift and energy of the people that compose the community's population in this section of the city. The heavy loans are indicative of the confidence the banker, the best trained and most trustworthy business man, has in the people and their ability to uphold and push the city ever onward.
Among those banking houses that constitute solid bed rock upon which is founded the results of manufacturing and mercantile enterprises is the City Trust Company, an institution which, ever since its inception in 1901, has sustained marked progress and steady advancement in every department. For this most excellent showing due credit must be give the executive officers.
The banking rooms, at 122 Roseville Avenue, are well fitted and provided with all the modern facilities of the well regulated and systematically conducted bank. The City Trust Company, as its name implies, conducts a general trust company business in all branches, it being authorized by law to act as trustee, guardian, executor or in like fiduciary capacity. It receives savings deposits from $1.00 up, paying interest on the same at the rate of 4% per annum. Active accounts, subject to check, are also received. For the convenience of patrons, who contemplate traveling abroad, it issues its own drafts on continental cities or letters of credit payable in any part of the world.
The laws of New Jersey under which this company is organized, protect and safeguard all deposits, whatever the amount may be, through the State Banking Department, by making thorough examinations any time they desire. These examinations occur several times during the year without notice. The bank's capital and the surplus stand between the depositor and any loss.
Special courtesy is extended to women patrons, and to any such who have personal estates, the management of household funds or the care of children's money, The City Trust Company is an invaluable aid to intelligent administration.
Safe deposit vaults, which are an insurance against worry and loss, are rented at $5.00 per year and upward.
|Copyright 1998 - 2020 Glenn G. Geisheimer|