Executor Trustee Chartered 1822 The Farmers' Loan and Trust Company Branch Office, 475 Fifth Avenue EFFINGHAM B. MORRIS, President WM. NEWBOLD ELY, Vice-President GEORGE H. STUART 3D, Treasurer THOMAS S. HOPKINS, Asst. Treasurer JONATHAN M. STEERE, Trust Officer ALBERT ATLEE JACKSON, Vice-President G. L. BISHOP, JR., Asst. Trust Officer PHILADELPHIA, PA. A MONTHLY MAGAZINE devoted to TRUST COMPANY, BANKING AND WAR TIME BANKING PROBLEMS AND NEED OF IMPROVED CREDIT MACHINERY Dr. J. T. Holdsworth, Dean of the School of Economics, University of Pittsburgh. Liberty Loan Payments and Money Market Far-Flung Relief Work of American Red Cross FEDERAL RESERVE BANKS SHOULD NOT BE OPERATED FOR PROFIT Ex-Governor Edward C. Stokes, President, Mechanics National Bank, Trenton, N. J. EFFECT OF WAR FINANCING ON SAVINGS BANKS William E. Knox, Comptroller, Bowery Savings Bank of New York. DOMINANT FACTORS IN FOREIGN EXCHANGE SITUATION Improved Clearing Facilities in Paris THE "RATIO PROVISION" OF THE NEW JERSEY TAX LAW Joseph F. McCloy of the New York Bar. RESULT-PRODUCING BANK AND TRUST COMPANY ADVERTISING W. R. Morehouse, Assistant Cashier, Guaranty Trust & Savings Bank, Los Angeles, Calif. Forceful Trust Company Advertising LEGAL DECISIONS AND DISCUSSION Stock Market Influenced by War Reveni e Legislation Team-Work between Government and Banks New York Money Market and Liberty Loan Operations Operation of New Investment Tax Law in New York ABSTRACT OF ófficial statements of NEW YORK CITY TRUST COMPANIES As of OFFICIAL REPorts of new YORK CITY TRUST COMPANIES The Real Estate Title Insurance and Trust Company of Philadelphia 523 CHESTNUT STREET, Across from Independence Hall THE OLDEST TITLE INSURANCE COMPANY IN THE WORLD Capital (full paid) $1,000,000 Surplus and Undivided Profits (earned) $1,875,000 Incorporated in 1876, this Company has issued over 200,000 policies of title insurance and has accumulated information which enables it to execute work with unequaled accuracy and promptness. Photo by Paul Thompson PROMINENT NEW YORK BANKERS AND MEN OF AFFAIRS WHOSE WORK CONTRIBUTED LARGELY TO THE SUCCESS OF THE WAR FUND CAMPAIGN FOR THE AMERICAN RED CROSS Standing, left to right: Albert Strauss, James R. Sheffield, Thomas Cochran, Edgar L. Marston, Charles Sumner Ward, PROMINENT NEW YORK WOMEN WHO LED TEAMS IN COLLECTING MONEY FOR THE RED CROSS WAR FUND Top row, left to right: Mrs. Walter E. Maynard, Mrs. Orme Wilson, Jr., Mrs. Richard Aldrich, Mrs. James A. |