Los Angeles herald., 1910-05-11
AMERICAN SAVINGS
BANK IS IN NEW HOME
Institution Fits Up Quarters in
PaIatiaI Style at Sec
ond and Spring

Hundreds of depositors and friends OF
the American Savings bank called at
the handsome new home of the flourish
ing institution in the American bank
building yesterday, where all were most
cordially received by President HerVey'
Vice President Boyle Workman ana
other officials The American Savings
bank is now permanently located in the
rehtted quarters in the old Los Angeles
Trust building on the northeast corner
of Spring and Second streets, the prop
erty purchased some time ago by q local
investor and rechristened the American
Bank building. A large sum of cash was
expended in arranging the corner room
and the basement for the use of the
savings institution, and it is now one
of the best appointed banking houses In
the city The basement was lowered
four feet and the first floor was cut
down seven feet level with the side
walk The corner entrance was elm
mated and entrances provided from the
Spring and Second street sides of the
building The lobby of the bank is
elaborately fitted up with tile floor and
Italian marble wainscoting. The top
nf the circular business counter is lifted
with marble from Catalina island, and
the base of the counter is Verde antique
of the main part of the bank is of solid
bronze from New York, ornamented
with artistic carving. Convenient to
the cashier and tellers Is the large
vault. 15x20 feet in dimension, secured
by latest time lock devices. Ample
space is provided for the transaction of
the growing business of the bank.
EQUIPMENT IS MODERN
In one corner of the lobby are placed
the public telephone instruments and IN
viting rest places for women and other
patrons. over the windows are desks
and other conveniences for the public
In the basement. which has public
entrance from the front for the use of
those renting safe deposit boxes, are
the extra vaults, and the spacious room
arranged for the directors, which Is
furnished with costly mahogany tables
and chairs. Unique arrangements are
installed for furnishing light and
ventilation for the basement rooms.
The safe deposit department is model
in arrangement, with retiring rooms for
those desiring to look over private
papers and for consultation with rela-
tives or friends. BY q special. arrange
ment of rejecting mirrors and electric
lights the watchman on duty at the
bank at night can from the first
floor at his win command a sweeping
view of any part of the basement par
ticularly in the neighborsood of the
vaults without descending to the base
ment.
STRONG INSTITUTION
The American Savings bank was or
ganiZed and commenced business jan
uary /. 1905, and now has total re-
sources aggregating $2,500,000, the re-
sources of the bank having been in
creased 81 900, 900 since January l, 1909.
The depositors number between 5000
and 5000. The bank is paying per
cent on savings accounts and 3 per
cent on special checking accounts.
Following is the last statement of the
bank. together with the names of the
officers and directors:
RESOURCES.
Bills receivable, s1,714190.45; United
states and other bonds S1s6.31S.14; furniture
and fixtures, s4.S92.45; cash and due from
banks, s47s.s42.71; total, s2.Ss374S.75.
LIABILITIES
Capital s2AO,0OO; surplus and undivided
profits, s74.446.32; due depositors' S2'o69'-
2s74S; total. $2.3S3.74S75.
OFFICERS and directors-W. r. Hervey,
president; A. b. Workman, vice presi-
dent: j. w. Phelps, cashier; A. M.
Gibbs, assistant cashier; A. j. waters,
vice president Citizens National bank;
w. F. Botsford, ex-president American
National bank; T. w. Phelps, ex-vice
president American National bank; DR..
G. 3. Jones, director Title Insurance
and Trust company; Russ Avery, Avery
&, French, attorneys; Hon. W. Fl. Work
man, former mayor of the city OF Los
Angeles.