Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-06-25
LOCAL FINANCIAL NEWS.

The International Banking Corporation OF
New York city has leased from the Citi-
zens' National Bank the building 1415 G
street, formerly occupied by the West End
Bank, which was recently bought by the
Citizens Bank and nquidated The lease.
which was made through Mr.. David A.
Chambers Of this city, representing the
New York concern, Is for five years. with
the privilege of purchase 1t is understood
to be the intention of the International to
establish branch in this city for the pur-
pose of doing general banking business.
1t is not at all unlikely that controlling
interest will be acquired by the 1nterna-
tonal in one Of the local banks.
The International has a capital of 5000
600. 1t acted as the fiscal agent of the
government in the payment of the Chinese
indemnity, and is also the fiscal agent OF
the government in the Philippine Islands.
where 1t has a branch. The system OF
branch banks which is in operation in
England has been adopted by this institu-
ton, and the establishment of a branch
here is in furtherance Of that policy. Men
identified with the Western Bank of New
York. and which recently was merged with
the Bank Of Commerce, and those who are
prominent in the Equitable Life Insurance
Company. are understood to be financially
interested in the International.
OF the Washington Stock Exchange 1t was
ordered that the stock of the Home Savings
Bank, B. F. Saul, president, be listed. The
capital is 100000.
Of the exchange and will take the seat OF
the late Horace c. Ffoulke.
In the course of a few days a call will be
Issued for the annual meeting Of the Bank
ers Association Of the District. At that
time the annual election of officers will take
place. 1t has been suggested that as the
head OF this organization has thus far been
ho nm, TON avo v,nfo Sy,rtH
tutions that representative from one Of
the down town institutions be chosen this
time as president. It is likely this sug-
gestiOn will be acted upon.
The decision has been reached to bring
back to this city from Baltimore the audi
tors office Of the Chesapeake and Potomac
Telephone Company. The force Of clerks
employed was sent to the office Of the
company in Baltimore several years ago,
because of the overcrowded condition of
the building occupied by the general offices
OF the company in this city. The erection
OF the large building on 10Th street. north
of G street. which is now in progress and
which Is planned for use as the general
headquarters of the company, will supply
ample office room for all the employees of
the company that can be made use Of in
this District. The company has on its rolls
some LOO people all told. but good pro-
portion have headquarters in Baltimore
which Is the main point for the entire
covered by the company as we'll as that Of
the District Of Columbia.
1t Is expected also that the engineer de-
partment now in Baltimore will be re-
moved to this city. The Office OF the treas
urer of the company is still in Baltimore.
Mr.. Charles E. Bryan. who was appointed
to the place several months ago to fill the
vacancy caused by Mr.. C. G. Beebe going
to the home Office of the American Tele-
phone Company in Boston. is a son of the
late 8. M. Bryan. at one time president of
the company. Mr.. Bryan entered the COM
pany in a humble capacity, and has grad
ually worked his way up.
The stockholders Of the Lanston mono
type machine, who have just received the
reports OF the officers made at the annual
meeting held April 16 last, read with special
interest the paragraph in the report Of the
president Of the company, Mr. J. Maury
Dove which states: After many years Of
the most patient waiting on the part of our
many stockholders for the company to get
on an earning basis 1t Is my pleasure to an
nounce to you that the turning point in our
financial affairs has been reached, and that
the company is now actually earning
money. Small though 1t is at first. we can
most confidently expect the future to show
a constant Improvement in this direction"