Wall Street must have its wisecrack. "High finance" was the weak but prevalent pun heard last week when Fiduciary Trust Co. opened for business on the 30th floor of No. i Wall St. But other bankers pre- pared to watch Fiduciary's course with deep interest. Distinctly it is a new departure in banking. The idea for Fiduciary Trust was conceived by the law firm of Root, Clark & Buckner and the investment counsel firm of Scudder, Stevens & Clark which, formed in 1919 as the first purely professional investment adviser, now spends $400,000 a...
To continue reading:
or
Log-In
