The Savannah morning news., 1901-12-12
new BANK BUILDING
SITE FOR A HANDSOME, TEN-sToRY
STRUCTURE BEING LOOKED FOR.
BY BANKING INSTITUTIONS.
LOCATION WANTED BETWEES
BRYAN AND PRESIDENT STREETS.

National Bank of Savannah and the
OgIethOrpe Savings and Trust
Company Want New and Com
mOdious Quarters-Presiden My
ers of the Former Talks of the
Intentions of the establishments.
Mr.. Myers Heartily FavOrs Senator
CIay's Bill for al Sub-Treasury in
Savannah and Says Arrangements
Might Be Made for the Use of the
New Bank Building by the Gov
ernmenf.
The National Bank of Savannah and
the Oglethorpe Savings and Trust
Company are looking for a site for a
building. The institutions have sew
eral in view, but no decision has been
reached. A selection will not be made
until all sites that seem possible to
be secured have been considered.
President Herman Myers of the Ma
tional Bank said yesterday that the
two institutions have decided to build,
and that it only remains for them to
select a site. He said that one Sit
NoNC bSIHCCh LII , Oil anu L AOSiNS4lb
streets, in the business center of the
city, is preferred.
We would not object to going as
far south as President street." said
Mr.. Myers, for the trend of bust
ness seems to be in that direction. We
would not like a Bay street location
for that reason. 1t is the intention
of the two institutions, if a suitable
site can be obtained, to erect a ten
story Office building, which will be the
finest in Savannah. 1t will be for the
joint use of the National Bank and
the Oglethorpe Savings and Trust
Company"
The present quarters of the two in
stitutions on Bryan street are not
nearly commensurate with the amount
of business done or the dignity and
importance of the concerns, if the
popular acceptance of the relations
that prevail between a volume of
business and dimensions of a building
is applied. The business of the cor
porations ranks well up in that done
by the various banking establishments
of Savannah, yet their quarters are
inferior to those of the other banks.
ters has been recognized by the di-
rectors for some time, and there will
be general satisfaction caused by the
information that the number of hand
some buildings of Savannah bid fair
to be soon increased.
Should the bill introduced in the
United States Senate for the estab-
lishment of a sub-treasury of the
United States at Savannah be pass
ed. the new building of the National
Bank and the Oglethorpe Savings and
Trust Company. Mr.. Myers said, might
be used by the government. Plenty
of room would be afforded, and there
would be no difficulty in making the
suitable arrangements. Should the
bill pass and should the government
not determine to erect its own build
ing for the suO-treasury, it is quite
possible that an agreement might be
reached whereby the construction of
the new bank building would be so
ordered as to afford the best accom-
modations for the government insti-
tuition.
Mr. Myers was greatly pleased to
note that such a bill had been intro
duced by Senator Clay. During his
first term as Mayor of the city he was
a member of a committee that visited
Washington, with the view of urging
the establishment of sub treasury at
Savannah. He and other business men
were disappointed over the failure of
the plan, which resulted through the
opposition of Senator McLaurin of
South Carolina, who sought the es-
tablishment of the sub treasury at
Charleston.
There is no sub-tr treasury in this
section" said Mr.. Myers, land the
government should really establish
one. l believe the measure is wise
and hope that it may be carried. There
would be a great business advantage
to the city through the establishment
of a sub-treasury here, and a saving
would result from the abandonment
of methods that now necessarily pre-
vail. 1t would not be necessary to pay
so much for exchange. for transfers of
money would be facilitated. Express
rates upon silver to Washington would
be saved, for silver certificates could
vannah, while banks. of this section
might ship their silver here instead
of to Washington and receive certii-
Gates. There would be a saving. too,
in the fall, when the country banks
need silver. This would be secured
from Savannah. instead of from Wash
ington. There is a sub treasury at
New Orleans, and certainly the bus
mess of Savannah, the second most
important port in the South would
justify the establishment of one here"
RETURNED WRECKED MAIL.