A Notable Retirement

After 20 years' service as President of the Equitable Trust Company of Manhattan, Alvin W. Krech was elected Chairman of its Board of Trustees. Arthur W. Loasby, Senior Vice President of the company and former Syracuse banker, was elected President.

Mr. Krech left the Mercantile Trust Co. in 1903 to become President of the Equitable. He has been a notable figure in railroad financing, having served as Chairman of the Board of both the Western Pacific and the Denver & Rio Grande, and as Director in the Wabash, Western Maryland, Norfolk Southern and many other roads. During his Presidency, the Equitable Trust's capitalization was only $3,000,000--today, after the recent merger with the Importers' & Traders' National Bank, it totals $23,000,000.

Mr. Loasby was originally President of the First Trust & Deposit Co. of Syracuse. In 1920 he joined the Equitable as a Vice President, and a year ago became Senior Vice President and Mr. Krech's right hand man.