The Washington herald., 1907-12-18

Opening day with the Federal American
Banking Corporation passed of pleasant
| ly yesterday. At the close Of business
S660S7.56 had been placed on deposit. in
sums ranging from s. TO $500 More
than go individual accounts were opened
with the new institution. and the begin
ming of the new bank Is better than its
promoters expected.
/ Preparatory 10 opening the rooms OF the
bank, al Twelfth and G streets, had been
/ handsomely decorated with potted plants
and flowers by F. H. Kramer. one Of the
/ stockholders, and the office force Of the
bank was in good humor within the cages
when the doors opened at o'clock yes
terday morning. Quite a line Of deposi-
/ tors had formed at that hour. and
through the morning, until late in the
afternoon, clerks and officers were busy
taking In the cash and adjusting the ac-
counts. The first depositor was William
T. Griffith.
/ Beside the presentation Of the usual
/ bank book check book. and other ncces-
/ sary papers for doing business, each de-
positor, as well as each visitor 10 the
bank through the day, received some lit
tie gift as a reminder Of the occasion.
| There were boutoniers for the men, and
20 the smokers a good cigar Each Of the
/ ladies who called received a cluster OF
roses for the corsage Rignald " Bean
s. ". Ccckren. Cornelius Eckhardt.
/ George W. Chamberlin, Harry F. Hudd.e-
/ son. John II. Fisher. and others Of the
/ banks directors 8id officials were on
hand TO greet visitors and make them
I welcome.
| Three States Represented.
The majority Of the deposits were from
/ Washington. many Of them being from
business houses in the vicinity Of the In
stitution. But some were opened from out
OF town. three States being represented
/ in the new ccounts-Virginia, Maryland.
and Pennsylvania.
/ During the day considerable stock IN
the bank was sold though the officers
/ had decided not to part with more shares
than those outstanding at this time. But
a number OF the callers wanted TO buy
some shares, and they were accommO-
/ dated. II was stated. however. by one
I Of the directors that 1t was not the pur-
Z pose Of the corporation TO put more
7
/ ite number have been more than sub
/ scribed.
( It may be stated that the company has
+ been organized with a maximum capital
/ OF S5.oo0-00o. divided into shares OF SO
{ each. A considerable amount Of this
stock has been subscribed IN washington
and il is likely that much or the balance
I viii be disposed OF 20 capitalists outside
/ OF the city as II is the intention Of the
/ directors 10 widen the holdings and in
/ huence Of the institution as much as pos
sible.
/ Eleven directors OF the company have
I been elected, and II Is expected the fun
board viii be fifteen at some future time
I One OF the features OF the institution Is
l an advisory board, which Will be COM
/ posed Of 100 personality from Wash
ington and ffty from among residents Of
/ the States.
Officers and Directors.
The officers and directors Of the bank
| are:
/ Directors-H Harry P. Huddleson. William 7. Grif-
/ nh. Riguald " Beall John V. Holconbe. Come
lus EcShardt. Gustaye Bender. Lee L. Herrell John
/ Il Fisher. George ". Chamberlaiue. samuel ".
/ Cocueu. and F. A. Silver
/ Oices-As5is,ant cashier. James J. Collins; as
sistant secretary. c. n Stoy; attorney Charles ".
/ Darr.
! Business on the Washington Stock Ex-
/ change yesterday amounted 70 $500 in
/ bonds, and l060 shares Of stock, OF which
! LOCO were Mitchell Mining, which sold
/ at % cents a share. other trading was
confined largely TO scattered deals in small
| denominations Of the railway bonds and
some scrap lots Of local stock Wash
ington Railway and Electric preferred
sold between s. and 63. the prices OF this
stock being the only significant feature
/ of the market