Equitable Trust Company records, 1864-1952
Part of collection: Bank of Delaware records (1719)
Dates
- Creation: 1864-1952
Historical Note
The Equitable Trust Company (Wilmington, 1889-1954) was incorporated in Delaware, April 23, 1889, as the Equitable Guarantee and Trust Company. It was organized and subsequently managed by some of Wilmington's wealthiest and most prominent men: the founders included William du Pont (1855-1928), Samuel Bancroft Jr. (1840-1915), Willard Saulsbury Jr (1861-1927). and Hamilton Barksdale (1861-1918); William Bush (1821-1891) was elected its first President. Bush's successor in 1891 was Preston Lea (1841-1916), and his in 1902 was Otho Nowland (1850-1951). Under Nowland's tenure, the bank's trust business dramatically expanded, and Equitable became a prosperous financial institution with investments and loans throughout the continental United States. In 1954 the Equitable Trust Company merged, in a mutually beneficial venture, with the Security Trust Company forming the Equitable Security Trust Company. Four years later, in 1958, this merged company elected to change its cumbersome and dated name, adopting instead the name of a previously acquired bank, the Bank of Delaware.
Scope and Contents
The most important and cohesive part of the Equitable Trust Company records are letter books dating from 1889 to 1923. Most of these volumes contain correspondence between the bank and clients (American, Canadian, and Swiss) concerning investments. They also contain individual investment statements, the bank's municipal and corporate bonds financing, and some of the bank's real estate and stock investments.
Records documenting trust company functions are included in this series. One part of the Equitable Trust Company's business was to act as registrar for various companies and individuals; extant registration records include voting trust certificates and a voting trust minute book from Joseph Bancroft & Sons Company. Admittance registers from the Home for Aged Women, dating from 1864 to 1908, describe personal property owned by the women; individual trust accounts including the personal expenditures and investments of Alice du Pont Buck (1891-1967). The trust department's dockets, dating from 1885 to 1937, cover the accounts of prominent Wilmington families containing financial information and familial records: births, marriages and deaths, and other personal information.
Extent
From the Collection: 123 Linear Feet
Language of Materials
From the Collection: English
Additional Description
Access Restrictions
No restrictions on access; this collection is open for research.
Repository Details
Repository Details
Part of the Manuscripts and Archives Repository
