The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-02-09

interest in the Olympia hank to Sol G.
Simpson. of this city, who assumes con-
troll OF the Olympia bank. Mr. Lord is 10
be elected cashier of the washington Ma
tional bank. and NJ. +. Backus, at present
cashier, is to take the presidency.
Information concerning Mr.. LORDS IN
tended removal 10 Seattle and of his sale
Of large share of the stock of the Olym-
pia bank to MIR. Simpson was contained
in a dispatch received by the Post-lnteiii-
gencer last night from It's CORRESPONDENT
at Olympia In part the dispatch said;
ut IL reported on good authority that
Sol O.. Simpson, of Seattle, has purchased
share of the holdings OF c. j. Lord in
the Capital National bank of this city,
and that Mr.. Lord. who Is now president
OF the Capital National bank, will remove
TO Seattle and be connected with one Of
the leading financial Institutions Of that
city"
Mr.. Bnckus to He President.
Mr.. Graves admitted last night that he
had disposed of a considerable portion
of his holdings In the Washington Ma
tional to Mr. Lord and that he would
resign as president, to be succeeded by
MIR Backus, whose desk will be filled by
Mr.. Lord II shall retain considerable
interest in the Washington National.
MIR. Graves said. and also my entire in
terest in the banking arm OF Graves,
Backus Il Purdy at New Whstcom. My
present plan IL to take long vacation,
which | very much need. With my fam
lis | shall 80 to California for a time.
and then, after returning here for short
stay In the spring, We shall visit Wash
ington and New York.
Mr. Graves pans beyond that time are
not fully maturcd. save that he has deter
mined to make a tour OF England during
the coming summer. for the most part
an foot This Is something to which he
has looked forward for many years,
Mr. Graves has been prominently ideHti-
Ned with the business financial and social
life Of Seattle during the past ten years.
lie resigned as chief of the bureau OF en-
craving and printing In the treasury de-
partment at Washington In the summer
81 1879 20 organize and establish the
Washington National bank of Seattle.
The bank was opened IN the kilgen block
July /. 1854. Later IL occupied the rooms
where now the business ofnce % the
poSt-Iutenigenccr is situated. In 1850 the
bank moved across Second avenue to its
present location.
has been the active head 81 the institu-
ton II f. now hfth on the list of twenty
six national banks IN The United States.
with capital stock 81 $4,000 and de-
positS Of over Si.ooecA
In the united state. Treasury.
Mr.. Graves began business iife as a clerk
IN the office of The treasurer OF the United
states at Washington. This was iR 1854
RE rase steadily but rapidly 20 the position
81 chief clerk 81 The Office then 20 that %
Superlutcndent Of the redemption agency u
the treasury department which he organ
fzed until finally h@ was appointed chief
% the bureau OF Pfantth& ana engraving.
This was during the administration az Sec
retasy Manning. 90 the treasury depart
meat.
Mr. Graves voluntarily resigned his naxs-
tion 20 engage In THE banking business at
S.attle He brought with hiM letters % the
hixhest character from President Cleveland.
ex Secretary & n Fairch,ia John Shar-
man and mary ether prominent men az
washington For the pas. eiEht years Mr.
Graves has been president q the Chamber
~ Commerce. having Sesn reelected each
time sexpite his desire 70 have sorus other
member % The body relieve him % the
position
The purchase Of The controlling interest in
tNa CAPITAL National hank rf OLYMPIA by
Mr. Simpson results En- She formation az :
strong combination - hanks Including The
Ftrss National. % This CITY. - which Ala
simpson Is q trustee. the Caa4fal Nafionsf
and the State Bank os shelton IN an ~
these three Mr., simpson owning the ean-
trolling Interest