A thumb-nail history of the city of Houston, Texas, from its founding in 1836 to the year 1912 Page: 102
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102 A THuaM-NAnL HMoT a
notice. L-l, molrtg a net, and
such thin onside giedge sertis the world
over, are not so consideredby banks. The law even
goes so far as to prohibit National banks taking
land as security for loans
It is for the purpose of hadlinb just such busines
as the banks can not or will not handle, that
trust companies are formed. There is an indirect
community of interest between the banks and trust
companies, but there are no conflicting interests
One represents the financial and trade onditions of
the community while the other represents the material
growth, expnsi and development of the
community. No bank is willing to undertake to do
the any things that modern business method de
mand shall be done. Such things are entirely it
out the province of banks. It is for the purpose of
doing te things that trust companies have been
formed. The trust companies perform a dual duty.
They are for and conserve estates placed in their
carge, and they also afford a Mouroe from which
may be obtained ong time on. Usually thee
loans are made for the pure of improving and
developing intrinsically valuable property; the
property itself being taken as security for payment
of thedebt. The ngth of the loan, the rate of interest
paid by the borrower and the absolute security
afforded by the property, held as collateral, mak
such a transaction a safe and sure investment for
the trust company, while the reasonable interest,
paid by the borrower and the long time given him
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Young, Samuel Oliver. A thumb-nail history of the city of Houston, Texas, from its founding in 1836 to the year 1912, book, 1912; Houston, Texas. (texashistory.unt.edu/ark:/67531/metapth24649/m1/116/: accessed August 17, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .