The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-10-18
NOT ANXIOUS FOR 1T.
Mr.. Adler Does Not Welcome New
Bank Building on BroaghtOn st.

Bank Building on BroaghtOn st.
Mr.. Leopold Adler is not enthusiastic
over the prospect of the eight-or-ten-
story building the National Bank Of
Savannah and the OglethOrpe Savings
and Trust Company will erect at the
northwest corner of Bull and Brough-
ton streets.
L am not disposed to criticise the
action of the boards of directors of
the banks" said Mr.. Adler yesterday.
''They are supposed to know what they
are about to do, but l nevertheless be-
lieve that a little further consideration
would convince them that they are
wrong in locating their building upon
this corner.
Mr.. Adler's views are those of a re-
tail merchant. He is one of the most
extensive dealers in the city, and his
study of trade condition and customs
has rendered him thoroughly qualified
to discuss any of their phases.
las a neighbor" he said, Il am sor-
ry to see that the structure Is going up
there. No bank building should oc-
cupy that corner. Bull street, or that
section OF it, will never become a bust
ness street, with the Germania Bank
on one corner and the other two banks
on the next. The property will be
rendered the less valuable by the i'm
provement put upon it. Put bank,
a church, an armory or a wholesale
house on a retail street. and the value
of the neighboring property deteri-
crates. Values of such property is an
outgrowth of the crowds that appear
upon it or about it. Remove those
crowds, and the value diminishes.
THE establishment of the quarters
of the banks means the removal of the
several retail stores that now occupy
the site. Consequently there will be
fewer people passing on Bull and
BrOughton streets. for the attraction
of those stores win be removed The
banks will not take the place of the
stores in furnishing crowds. Those who
do visit the banks or the offices above
the banks quarters will not be shop
pers. They will not be of the class
from which the retail stores draw their
custom.
THE banks might have secured some
other location that would have been
just as advantageous. On Drayton or
on Bay street bank would do just as
well as at the corner of Bull and
Broughton. Banking is done by pref
erence, not in accord with convenience
or proximity. People will deposit just
as quickly on Bay or Drayton street
as on Broughton and Bull. If they want
to borrow, they would go as far as
West Broad street just as willingly as
to Broughton and Bull"
President Herman Myers of the Ma
tional Bank was told of the views Mr..
Adler entertained. Mr.. Myers said that
the banks hope to be able to so ar
range as to furnish quarters for the
present tenants of the property. He
was asked if arrangements could be
made for the use of the ground floor
for stores, and answered that that was
a matter upon which he could not yet
speak.
Mr.. Myers took the view, however,
that the bank buildings would I'M
questionably add to the value of the
surrounding property and prove an at
tractive addition to that section of the
city. The real estate interests, too,
would be generally improved, for, even
If some of the present tenants should
establish their stores elsewhere, there
would be demand created for business
locations by their quest for suitable
stands. ~ $3.50