From: "Newark, the City of Industry" Published by the Newark Board of Trade 1912
With its banking, savings, trust, bond, title, mortgage and safe deposit departments, the Fidelity Trust Company is conceded to be the largest institution of its kind in the State of New Jersey.
Occupying most of the ground floor and a large part of the ninth floor in the main Prudential building, at Broad & Bank Streets, this company reflects in no small degree the unfailing confidence of the public. Its growth has been rapid, steady and enduring. Starting 25 years ago with a capital of $200,000, it now (1912) has a capital surplus and undivided profits of more than $9,500,00.
Under the direction of conservatively progressive directors, experienced officers and expert department heads, the company does a state-wide business. in addition to its large banking and savings departments, which pay interest on deposits, and its bond department which buys and sells stocks and bonds, it acts as executor of estates, serves as trustee, guardian, receive and assignee, takes entire charge of real and personal property, guarantees titles to real estate, makes searches, loans money on collateral and on bond and mortgage, sells investment mortgages, and maintains safe deposit vaults with well equipped private writing and coupon rooms. These vaults are the largest in the state.
In equipping and furnishing them and its various departments, the company was influenced not by a wish to make a display, but by considerations of security and efficiency and the convenience of its patrons.
|Copyright 1998 - 2021 Glenn G. Geisheimer