Business & Finance: Fiduciary Bank

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...

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