The Washington times., 1901-07-11

Metropolitan National Bank - In
terestcd in Some of the Largest
Business Enterprises of the City.
John w. Thompson. for many years the
President of the Metropolitan National
Bank and, who for half a century, was
closely associated with many large COM
1nercial enterprises in Washington, died
at /. 20 O'Clock this morning. Gathered
at the handsome residence, 1913 Street
last night were all the members Of his
family and the attending physician. DR..
John W Shaw. Arrangements for the
funeral have not yet been completed.
Mr.. Thompson had been seriously i'll
since May 81. Cerebral paralysis was the
immediate cause of death. For the last
two weeks Mr. Thompson's condition had
been critical, but a splendid constitution
enabled him to rally, although during
great portion of the time he was in
semi-conscicus condition
Mr.. Thompson is survived by his widow
Mrs. Flora Markward Thompson, son,
Rcss Thompson. and a daughter, Miss
Ida Thompson. all of this city
Few business men have gained. greater
success in Washington than John w
Thompson. He was connected with many
of the business enterprises which have
done much to build up the city. On va
rious occasions he held positions of trust
in the District government and was the
first chairman of an Inaugural Committee
to make financial success of the celebra-
ton. He oficiated in that capacity when
President Garfield was Ushered into office.
OF Scotch Irish parentage. John w.
Thomson was born in Montreal, Canada,
on August !. 1872 He lived in that city
until he was fourteen years old, when he
left home. Albany, \. Y. was his obJee-
tive point, and there he learned the print
ing trade. Not long afterward he went
to New York City. He remained there
for several years and learned the plumb
ing trade At this time he had no money
except the little he had saved. This prov
cd to be the foundation of his future large
fortune.
In 1919 Mr.. Thompson came to Washing
ton and engaged at once in the plumbing
business Alexander Shepherd who after
ward conceived and carried out the pres
cnt system of streets and parks in the
National Capital, was his clerk. Eventu-
ally Shepherd went into business for him
self Mr.. Thompson took his brother VIII
liam. who came to Washington from Mon
treal, into the business with him.
During the war Mr.. Thompson did not
serve with the Federal armies, but he
was an active Union sympathizer. he
held several positions OF semi-public
character After the war he became a
rnenbe Of the board Of aldermen
One OF the important positions held by
Mr. Thompson was that of President OF
the Seaboard and Inland Coasting Com
pany. into which was merged the New
York. Alexandria. Washington, and
Georgetown Steamship Company, in which
he was also interested
President Grant appointed Mr.. Thomp
son a member of the upper horse OF the
Legislature of the District Of Columbia |
When President Garfield was inaue urated |
it was Mr.. Thompson who proved himself |
the first chairman Of an inaugural com |
rnittee who was able TO return the con- |
tributions made to the guaranty fund.
Business enterprises of a semi-public !
nature were always enthusiastically sup
ported by Mr.. Thompson. The affairs Of
the METROPOLITAN Street Railway were in
a sadly tangled shape when he became
president of the company The service !
vas miserable and the patronage poor
Under his energetic administration the
road improved wonderfully, and pros
pered during all the years he was at its
head. He had a remarkable aptitude for
the small details of every business in
which he was engaged, and it is said |
when he was president of the railroad he 1
used TO make personal inspections OF the !
buildings and all property OF the COM |
I5auy. He was one of the first men to ad- |
vocate cable cars and one of the prime
movers in the substitution of electricity !
for power.
Soon after the telephone came into
general use Mr.. Thompson interested
himself 10 large extent financially in
the Potomac and Chesapeake Company
He was the vice president for a number
Of years. while Horace c. Cummings was
the president.
As a result Of the great financial panic
in 1873 Mr. Thompson became the Presi-
dent of the Metropolitan National Bank
John y. Blake had formerly held that
position. The many failures and general
commercial depression had placed the in
stitution in sore financial straits Mr..
Thompson was already one Of the dircc-
tors. At this time he purchased a con-
trolling share Of the stock and was
elected president.
Under his management. and through the 4
aid Of the resources which he brought TO
the bank, il survived the panic, and soon
not only regained its former prosperity,
but began to Increase its business. Prior
70 Mr.. ThOmpSOns advent as president
the capital stock was S309.0DD the same
hgHre as II IS now. but the surplus was
l.
IS now 10000 more than the capital
One day in the early 'S0s a clever crook ]
from New York walked into the Metro 1
politan National Bank and then walked /
out again. With him disappeared about /
SZ5.tJJ IN negotiable securities. A reward 7
OF $500 was offered for the recovery OF /
the money as soon as the theft was dis I
covered.
At the time the municipal government
OF Washington was notoriOusly corrupt,
and the police force woefully inefficient /
and supposedly dishonest OF COURSE. the
local detectives took the matter up. Their
conduct Of the case did much To strength
en- an idea that certain Of the detectives
worked hand in glove with the crooks.
a detective went TO New York. came
back with the stolen securities, and told
a queer tale Of the methods he had 10
pursue to recover the money. Mr.
Thompson lost no time in energeticaIly
pushing a campaign for pure municipal
administration. and in the contest he WAS
highly successful
The policy upon which Mr. Thompson
operated the Metropolitan National dur
Ing the years he was its head was tfat il
was inadvisable 10 pay large dividends,
but better TO declare frequent small div
idends and allow capital to increase as
rapidly as possible.
When. after nearly twenty -four years |
incumbency as President of the Metro
politan. Mr.. Thompson decided 10 with |
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