Evening star. [volume] (Washington, D.C.) 1854-1972, 1889-08-12
THE NATIONAL CAPITAL BANK.
For the Accommodation Of the Business
Men Of East Washington.


The National Capital bank win be ready to open
its doors for business in few days. As soon q
the necessary books, checks and other banking
facilities are received the new organization
will begin what is regarded as . very import
ant movement in the continued development
Of the eastern part Of the city. On Thursday
the fifty per cent Of the capital stock will be
paid in as required by law, and then the comp
troller of the Currency will issue the charter to
"The National Capital bank of Washington. "
The organization Of the bank was found to be
very easy matter when it was once started.
ORIGIN OF THE ENTERPRISE.
For q number Of years the need of a bank in
the eastern portion Of the city has been recog-
nized by the business men and other residents.
few weeks ago several gentlemen came to-
gether and resolved to organize a bank As
soon as their intention became known they re-
celved such encouraging assurances of CO.
operation and support that whatever lingering
doubts may have existed in regard to the prac-
ticability of bank on Capitol Hill were soon
dispelled. A committee on organization was
formed consisting of John E. Herrell, J. W.
Geo. F. Pyles, Allen G. Clark and s. H.
Walker These gentlemen were all well
known in the business community and their
interests were largely on Capitol Hill. Mr..
Whelpley is the assistant treasurer of the
United States and his extended knowledge of
in organizing the bank. As soon as subscrip-
ton books for the stock were opened the
SUBSCRIPTIONS CAME POURING IN.
It was decided to make the capital stock
5000 900, and it was found that subscriptions
for twice that amount had been received. The
gratifying feature Of the subscriptions was the
fact that the greater part came from the
business men and residents Of capitol hill. In
assigning the stock preference of course was
given to residents in that section of the city,
and in consequence the stock of the new bank
is almost entirely held by people living in that
locality.
ELECTION OF DIRECTORS.
Directors have been selected as follows, al
though it is the intention to have fifteen
directors instead Of fourteen as at present:
John E. Herrell, Jas. W. Whelpley, Henry C.
McCauley. John G. Slater, Geo. F. Pyles, Allen
G. Clark, 8. H. Walker, Thos w. Smith. Walter
NARROW, H. A. Griswold Chas G. Dulin, Dr.
w. ?. G. Hazen, b. B. Earnshaw and Geo. F.
Hardin.
LOCATION OF THE BANK.
The directors have leased the building at the
northeast corner Of Pennsylvania avenue and
Sd street, known as the Washington hall build
ing, and the lower floor will be occupied by
the new bank. The entrance to the bank will
be on the corner, and the necessary counters
are now being put in. A room for the directors
is on the avenue front and connected with the
banking room. The new insurance company
the People's-which is a new Capitol Hill en-
terprise, will occupy an Office adjoining the
bank on the avenue. 1t is the intention OF the
directors to purchase site as soon as practical
bic and erect
PERMANENT BANK BUILDING.
While the present quarters are only tenn
porary, yet the location is regarded as central
and is in the midst of the business community
Of Capitol Hill.
ELECTION OF PRESIDENT AND CASHIER.
The directors have elected Mr.. John E. Her.
rell president. Mr.. Herrel is well known, not
only in that section Of the city, but all over the
District as a man of sterling character and
business capacity. His large property inter-
ests are mainly in East Washington and the
selection has fallen upon representative Cap
itol Hill man.
Mr.. William B. Baldwin, the cashier, is not
unknown in banking circles in this city. He
entered the National Bank of the Republic as
runner when boy and his faithful services,
his intelligence and aptness was recognized
soon afterward by promotion to the position of
assistant teller. When the Columbia national
bank was started Mr.. Baldwin was given the
position Of teller, which position he has filed
with credit to himself and satisfaction to the
bank. Mr.. Baldwin is only twenty-eight years
OF age and will be the youngest man holding a
similar position in this city
The directors will elect vice president and
probably next week the new bank will be in
operation.