The Washington times., 1905-01-01

plans. entirely independent, looking to
the establishment of a new bank. con-
trolied and officered by local men, were
set on foot within ten days after the
sale of the Citizens Bank
The merging of these plans resulted
in the creation of the Commercial Ma.
tional Bank with a capital of $500 600 Al
the end OF sixty days this bank has
deposit line of 81 100000. owns its own
building and promises one of the hand
soonest counting rooms in the South
by next April. On the 10Th of the month
the capital of this bank is to pc increased
to $500 600. the increase being already sub
scribed at $3.50 per share. thus giving
the new bank paid-up surplus of
S100.000 as the result of this premium
on its stock
Americans New Departure.
The American National Bank has in
creased its capital during the year and
has bought the Sun Building for
permanent home Extensive remodel
ing is in progress already, and hand
some banking house is promised dur
ing the spring. The progress of this
bank has been quite out of the ordi-
nary, and its advertised intention of
paying interest on deposits is in keep
ing with its Independent record. The
encroachment of the trust companies
upon the commercial banking business
is responsible for the interest induce
ments now openly offered by the banks.
Rivalry between the banks and trust
companies is not wholly friendly. ex-
cept where interests are joint. and talk
of legislation looking TO restricting the
character OF trust banking is To be
heard at the close OF the year.
Other New Buildings.
The old banking house OF Lewis john
son q Co followed the example of its
neighbors. and is preparing 10 move
into its own banking house early in
the new year, thus acquiring 4 perma-
nent business home after half a century
of business existence
The most pretentious Of building en-
terprises is that OF the American Sc
curity and Trust Company, which is
erecting a home on lines not dwarfed
by the massive Government buildings
in the neighborhood, and which prom
ises 10 become landmark in Washing
ton.
The building enterprises now in pro-
cess of completion by banking institu-
tions are of themselves convincing proof
of the growing needs. as well as of the
increasing prosperity of Washington
No rnore substantial evidence of ma
terial well being could be offered The
community is to be congratulated upon
this progress achieved by rational
methods
Speculative Mania Curbed.
Not the least of the years blessings
was the timely curbing of the specula-
tive mania which threatened the un-
doing of many years of serious en-
deavor. The knowledge gaiEed is worth
more than an extra dividend the
total banking capital of the District
Results alone count and the results Of
1904 are quite worthy of being counted
Savings Banks Operations.
One new savings bank has been added
to the list during the year. and the
general prosperity has made large earn
ings possible In this branch of the bust
ness Savings banks occupy a distinct
| field and are growing in favor with
small depositors- The clients of these
institutions receive from 2 to 3 per cent
interest or their savings. and get
splendid education in banking methods.
The older companies have already pass
ed many of the smaller national banks
in resources and up-to-date methods