The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-11-13

viii probably be some time before as
many Of the fashionable shops are rep
resented
Prominently eXemplifying this new era
Of construction Is the pI oiect now under
way at the northwest corner OF @ and
Tenth streets, where the Washington In
vestment Company is erecting "a modern
nlne-story Office building The structural
steel work is already In place and during
the latter part of the week just past the
first floor marble work was set into place.
All of the work is progressing rapidly.
and completion is now but a matter of
few months.
Plans by DE SibOur.
Plans for this new building were drawn
by J. II. De Sibour. and are for a nine
story modern freproof structure. As
planned the building is of classic design,
trimmed in terra Gotta, with ornamental
cornices. \ particular feature OF the con-
struction design is that the building is
of what is known as the loft type. Every
floor is free and clear of posts or sup
ports of any sort, so that every par
tition could be removed TO make it avail
able for an extensive business purpose.
The first floor is on the sidewalk level,
and consists OF spacious banking quar-
tiers for The McLachlen Banking Corpora
ton. for whom the building is named
Ia addition L ere are accommodations for
two stores on this floor one facing on
C street and the other on Tenth. There
will be eighty office rooms. each equip
ped vita hot and cold water and coat
lockers. An innovation in the line of Of
flee accommodation is that each tenant
viii have a private vault in the base
ment OF the banking quarters at his ex-
elusive disposal thus obviating. to a
great extent. -he need for safes in the
offices themselves
Built by Corporation.
The Washington Investment Company.
which is the sponsor for this new addition
TO the city's office building aeeommoda-
ton. was Incorporated under the laws
of the State of Delaware in March of the
current year. and is formed of prominent
Neutrality-suspicious. The capital OF the
company. $4,000 was obtained wholly
within the city, thus speaking well for
the financial ability of Washington. The
corporation has a liberal charter en-
powerlng ii TO buy and sell land. and TO
transact a general investment business,
with the main purpose that of the erec-
ton Of the building just described.
The officers of the corporation are as
follows: President, James l. Marshall:
vice president. Dr. H. C. Duffey; treas
urer. Archibald NJ McLachlen:: secretary,
Eugene II. McLachlen- The board of d.
rectors consists of fifteen members, three
OF whom are Yet 10 be chosen. Those
serving at present are Edward E. Glenn
ent Harry w Davis, DR. II. c. Duffey.
j. H. De SibOuT William T. Galliher, T.
+. Gilbert, Firman r. Horner, James L.
Marshall, John A. Massie, Archibald NJ
McLachlen, Horace J. Phelps and Rob-
inson White.
Bank on FIRST Floor.
The McLachien Banking Corporation.
which will occupy the ground floor of the
structure. Is, in a sense, one of the new
er banking institutions of the city, yet
is numbered among the older organiza-
lions First known as the McLachlen
Real Estate and Loan Company, the cor
poration occupied quarters on F street
for many years. In 1887. when organized.
practically all of F street was residen-
tial community, and the firm was thought
to have ventured too far out of the
business section.
The succeeding years, however, brought
with them an era of + street building
construction, and the company was
forced to find new quarters. II was then
that the site OF the present building
operations at the corner of Tenth and G
was purchased, and the wisdom of the
purchase is best shown by the fact that
in near proximity to the United States
Patent Office. practically the center of
the shopping district, it occupies an en-
viable position.
Eventually the old real estate firm be-