The Chicago Trust Company has announced a series of prizes to be offered for the purpose of stimulating research in business problems. These awards will be in two classes, the first being a triennial prize of $2,500 for the greatest original contribution to knowledge and advancement in the field outlined, and the second consisting of annual prizes, one of $300 and another of $200, to be given for briefer studies on suggested subjects.
The initial award of the triennial prize will be in the autumn of 1925, the subject for this competition being "Business Development and the Modern Trust Company". No restrictions are made as to eligibility of contestants for this prize, but the donors have in mind particularly officers of banks, business executives, practicing attorneys, members of teaching staffs, and graduate students in the field of economics and finance.
The annual awards will be made for the first time next fall, for the best studies, not to exceed 20,000 words, on the subjects suggested or approved by the committee in charge. Employes of banks, students in schools of commerce and law, and in departments of economics of colleges and universities, and all students registered in the American Institute of Banking except officers of banks are eligible to compete for these prizes. Among the suggested subjects are the advisory relations of trust companies with their customers, the reduction of litigation relating to wills, trust companies as fiscal agents for corporations, and the history of the British investment trusts.
These awards are held to be an encouraging sign in that they show a belief in Chicago banking circles that industrial expansion, with the need of trained business executives, is coming. Men who wish to participate may obtain further information concerning the contests from the secretary of the committee of award, Professor Leverett S. Lyon, University of Chicago.
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