Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-06-29

Washington is fortunate in having many SUBJ
stantial and gell-managed financial institutions,
which help to oil the machinery of commerce
and aid business enterprises and projects Of
improvements. Good banks, conducted on
sound principles, afford facilities for business
ample as those enjoyed in any community.
Such concerns have, indirectly at least con-
tributed much to make the rapid development
of the capital possible. Besides its banks
Washington has some remarkably-he insti-
buttons in its building associations, which have
aided materially In advancing the interests and
promoting the growth Of the city, besides sup
plying a means of securely investing savings
that has done much to encourage thrift among
the people of the city. The responsibilities
devolved upon the leading banks and building
associations have been discharged in a manner
to justify the confidence reposed in them by
the citizens of Washington. The history Of the
institutions which have been built up under such
able management and the record OF the lives of
the men who direct them constitute an important
chapter in the history of the city, besides hav-
ing the interest that always attaches to the
story Of the achievements Of men Of strongly
marked individuality. The sketches given be-
low of some Of the banks and building associa-
tions Of the city, and the men at their head,
will be found to repay careful reading.
The National Metropolitan Bank.
The National Metropolitan bank is one of the
old and reliable institutions of Washington. 1t
Is nearly old as the city ITSELF Its first presi-
dent was Gen. Van Ness who conducted its af-
fairs for about thirty years. As an institution
IL aided in the development and building up Of
the city. When, during the war Of 1912. Gen.
Jackson made an appeal for funds for the re-
lief of the suffering American soldiers, this
bank furnished half a million dollars. Jackson
often spoke of the debt Of gratitude the coun-
try owed the bank. He always kept his private
accounts with ii, and when the deposits Of the
United States bank were removed this was
made q public depository. Through those
panicky and exciting times. in the face of va
rious menaces, the Metropolitan bank held its
own without q suspension. When called
on by the government to pay its debt
of deposits, its response was: "Mr. Secretary,
draw for your balance and it will be paid on
demand" It passed into the present efficient
management soon after the panic of 1873.
During that panic there was a sort of depres-
sion growing out OF the too liberal, If not in
judicious, policy Of the previous management
The bank felt the depression in common with
the banks in general throughout the country.
The new management came into power just
after this panicky time. Mr.. John W. Thomp-
son was elected vice-presidert in 1878 latter
the panic), and was electe pr ,sident the fol-
lowing January. From the time the new man
agement came into power the business Of the
bank has greatly increased. Its deposits, from a
few hundred thousand dollars at that time, have
grown to million and q half It's surplus fund,
which at that time was but 80 per cent of its
capital stock. is now over SO per cent or
$3.50 900 surplus on a capital Of $500 900, and it
is expected that it viii soon equal the amount
of the capital.
Mr.. John W. Thompson, the president, is
closely identified with the material develop
ment Of the district Coming here in 1880 ne