440 WILLIAM P. GEST 



The large amount of trust funds held by the trust com- 

 panies in Philadelphia is a unique feature of its business, 

 and by far the greater part of such funds are held by some half 

 dozen companies, as follows : 



Pennsylvania Company for Insurances on Lives and Grant- 

 ing Annuities 1120,467,880 24 



Fidelity Trust Company , . . 87,257,645 18 



Girard Trust Company 63,936,750 50 



Provident Life and Trust Company 59,573,161 28 



Philadelphia Trust and Safe Deposit Company 45,820,454 00 



Real Estate Trust Company 25,688,328 16 



or over four hundred millions in six companies. 



The magnitude of the amounts held in trust by companies 

 in Philadelphia may be illustrated by a comparison with those 

 of the trust companies of the entire state of New York, which 

 are reported as of January 1, 1905, at $275,665,112. 



I believe, however, that all of the reports of trust funds 

 are not made upon the same basis, some of the companies 

 including securities pledged as collateral for corporate trusts — 

 such as collateral trust bonds, etc. Most of the companies, 

 however, I believe, including the six mentioned, now report 

 only such funds as are held on active trusts. If all of the de- 

 posited collateral in corporate trusts was included, the amount 

 would certainly be increased by much more than one hundred 

 millions. 



It is to be remembered, also, that a large amount of real 

 estate is held by these companies which does not appear in the 

 above figures. I think it would be a moderate estimate to 

 allow real estate in addition, at, say, 15 per cent of the personal 

 estate. It would be necessary to add, therefore, for all the trust 

 companies in Pennsylvania, say, seventy five millions. 



Some persons do not consider such statistics as I have en- 

 deavored to present as being of much practical importance, 

 but I believe them not to be without their use if by them we 

 can be led to a better understanding of the great current of 

 business of which we all form a part. 



