The Washington herald., 1910-08-14


as the center and the line running down
Pennsylvania avenue TO Thirteenth street
as the radius. he would include what has
been sometimes termed the uptown bust
ness center Of the Capital
Within this half-circle would be found
a large part of the banking interests Of
the city, the principal real estate Offices,
several Of the larger Office buildings. and
a growing segment of the retail trade Of
the Capital This business activity is of
recent birth, comparatively speaking, and
it represents a movement which, in its
logical development. will make the terri
tory around the Treasury the ultimate
financial and business center Of Wash
ington- II is largely so now.
Prominent Firms.
Among the prominent business men and
firms located in this section are the fol-
lowing:
Harry wardman. builder. 1923 New York
avenue: John II. Nolan, builder. 1913 G
street northwest; Thomas J. Fisher. real
estate. offices IN the Union Trust Build
ing; Charles Ecksteins cafe, 1n2 New
York avenue; Milburn, Hester & Co,
architects. Home Life Building. Fifteenth
and G streets northwest. American Sc
curity and Trust Company, Fifteenth
street and Pennsylvania avenue north
west W F. Roberts Company. printers.
1913 New York avenue northwest; A g.
Plant. bankers and brokers. IA Four
teenth street northwest; Swartzell, Rheem
& Hensey. 727 Fifteenth street northwest:
Evans Building. 1146 New York avenue
George Washington Hotel. Fifteenth
street and New York avenue, National
Savings and Trust Company. Fifteenth
street and Pennsylvania avenue.
Banks Near Treasury.
Within this half-circle are already To-
Gated three Of the four trust companies
Of the city six Of the twelve national
banks, and two OF the seven savings
banks Of the city, while nearly all Of
the brokerage Offices doing a banking
business are within the -t..,t:s named, and
the more important private banks OF
Washington are doing business within
the same territory. Moreover, these
banks represent some Of the latest or
gained institutions. as well as two OF
the Oldest in the city.
Two causes. at least. have operated 10
bring the business of the city to the
Treasury. II is the natural money center
OF the country. and IL is quite the ex-
pected thing 70 see financial institutions
I seeking locations near II. Ii is but a
step from any OF these banks, offices.
and places OF business 10 the cash room
OF the Treasury. and ordinary con-
! venience Of handling money would bring
them as close to that point as possible.
Car Lines Center Here.
As a second reason may be mentioned
the centering Of the lines OF traffic nea:
/ the Treasury. other places may be
nearly as accessible by the street car
/ lines, but none are more so. From any
/ part OF the District OF Columbia. and
/ even from the suburban lines that run
/ out into the adjoining States the way IS
/ direct and quick TO the Treasury and the
/ financial Institutions clustered IN its vi
/ cinity. II is the one point in Washington
/ toward which almost the entire popula-
/ ton Of the District turns when it seeks
the business district.
| II was possibly the construction OF the
| Colorado Office building several years age
that attracted the attention Of washing
ton to the northwestward trend OF busi-
ness interests. The owner OF that struc-
ture was a keen business man. and in
seeking a location for 1t he became i'm
pressed with the advantages of the up
town district in preference 10 that lar
Their eastward. No one would doubt that
his resources would have enabled him to
exercise almost any choice with reference
to the location OF his building. and in hit
ting upon the site OF the old Foundry
Methodist Church he must have been
actuated by influences other than the
fact that the property was in the mar
ket and available. He foresaw the move
ment which has since come forward with
such amazing rapidity.
Banks Get New Homes.
About that time also the new Riggs
bank building was erected. a little later
the American Security and Trust struc-
ture was established. which this year has
been undergoing enlargement. As a part
OF the movement. the Metropolitan Bank
built its new structure. abandoning the
old. the ~Shoreham Hotel underwent a
complete renovation. The Union Trust
Company erected its new building ana
moved around from f street, leaving a
large and convenient banking house.
which has stree been occupied by the In
ternational Banking Company. The Hibbs
Building was built the same year as the
Union Trust, both large and modern Office
structures. which have invited tenants
from other portions of the business dis
trict. The Evans Building followed in
New York avenue, and large improve
ments have been made on the fiatiron
formed by H and Fourteenth streets and
New York avenue. with the Masonic Tenn
pie occupying similar site below
The new District National Bank build
ing is rapidly nearing completion in G
street, and within the last three years
big improvements have been made in G.
street about the corners Of Thirteenth
including Droop's new music store. into
which one Of the eldest business houses
Of the city moved this year.
New Southern Building.
Part of the same movement VIII be
the construction Of the Southern Build
Ing. at Fifteenth and II streets. upon
which work has been started and the
rebuilding Of the Riggs House. in con-
nectiOn with Chase's Theater. which will
be started during the present year. The
buildings Of the George Washington Unit
versity, recently acquired by S. w
Woodward, await such disposition as the
Continued ON Page .. COLUMN 4.