NATIONAL BANKING UNDER THE FEDERAL RESERVE SYSTEM
Tue Trust Department will be pleased, at all times, to assist the
clients of the Bank in solving their fiduciary problems.
Custodian of Securities
For many years, The National City Bank of New York has main-
tained a separate department, the sole purpose of which is to take
care of securities. Apart from their physical safe-keeping, the depart-
ment attends to collection of coupons and dividends as they fall due,
and principal when it matures. It will make such disposition of
principal and income as directed, and use its best endeavors to notify
of subscription privileges, securities called for payment prior to
maturity and requests for tenders of bonds and notes for sinking
fund purposes.
Under special arrangements, this department keeps investment
accounts, renders statements thereof periodically, and furnishes data
for income tax returns.
This department gives expert attention to securities entrusted to
its care and the charges made for this service are nominal.
When it is asked to obtain or dispose of securities for its corre-
spondent banks, The National City Bank of New York is in an ex-
ceptionally fortunate position. The Bank's affiliate, The National
City Company, is the most extensive dealer in securities in the United
States, carrying on its list of daily offerings the choice investments
which appear in the market. The Company at all times holds itself
ready to be of service to the Bank's correspondents. National City
Company offices are located in all of the important cities of the coun-
try, and where time is an essential element, in the purchase or sale of
bonds, it is thus not always necessary to deal with the New York
office.
Commercial Paver
From the lists of commercial paper that are offered to The National
City Bank daily, the Bank will be glad to purchase, for its corre-
spondents’ account (without responsibility on the Bank’s part but
using the same care and discretion as in purchasing for its own
account) any amount of such investments that may be desired.
Commercial paper thus acquired is bought on 10 days’ option; per-
tinent information regarding the firm or individual responsible for the
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