The Washington times., 1911-11-19

The event of the week in local finan-
cial circles has been the consummation
of the sale of the controlling interest in
the Provident Savings Bank and the
personnel of the new officials and d.
rectors. ', There Is in the transaction
every promise Of something worth talk
ing about in the near future. Being
neither a prophet nor yet the son of a
prophet Is not seeming to predict just
what will grow out Of the transfer of
control.
Looking through the list Of officers,
and directors, we find the names of M.
A. Winter, 8. w. woodward, e. South
ard Parker, James Lansburgh. and
twenty-one other more or less we'll
known business men.
1t doesn't stand to reason that the
business men whose names have been
mentioned have the necessary time to
direct the progress of any 100000 prop
osition.
A million dollar affair would be more
to their liking.
Pretentious plans have been made for
the Provident before this and just
failed of the execution. 1t was planned
at one time to make 1t the nub Of a
coterie of small savings banks, to in
crease its capital, and move 1t to the
northwest corner Of Pennsylvania ave-
nue. and Ninth street 1t fell through
the control did not care to buy the
building.
Now comes big nterests-interests
that have been on the market for bank
control these many days and, failing to
acquire an old institution. have taken
a youngster, and with evident intent to
force its growth.
The board of directors and the officers
elected Friday will serve until the sec
ond Tuesday, to wit. the 9Th day. OF Of
elect a complete ticket. On this date all
national and many trust companies and
/ State banks will elect their officials.
1t would surprise no one u st the an,
nual election the stockholders shoild
consider a number of propositions. Say
an increase In capital stock, perhaps a
change of name to one not decided upon
as yet, possibly change from State
1 charter to incorporation as q trust COM
pany or as q national bank. Then. too,
! there Is a possibility that the present
, executive will find his business duties
| pressing. and an experienced banker
Sixty days from now the street may
have some indication as to the plans
, that have been made for the Provident
Savings Bank.
The list of directors as published iE
The Times exclusively on Friday af-
terncon was incomplete. The complete
roster follows:
president. S. w. woodward; second
vice president, r. l.. Montague: secre-
tary, d. w. Thayer; general counsel, A.
e. =. Lecitie; cashier, C. l.. Bowman.
With the exception of the cashier,
the officers are all on the board of d.
rectors, which also includes E. 8. Par
ter Victor ]. Evans, A. d. Loeffier, w.
H. wunder, Ernst Gerstenberg. James
T.ansburgh, Simon Oppenheim. F. H.
Kramer, Gus Brahler. Ellie Sheetz, To-
: bias Bush. H. r Wheeler. II. B. Ben
ham. John c. Ewald, Harry c. Tai
bert, F. G. Chamberlin, Charles A.
Goldsmith, John Lewis Smith, Henry
Evans, and Martin Roth.
It Is announced this morning that
Mr.. Woodward has resigned from the
vice presidency.
And another savings bank. one that
has grown like sixty in the last few
years. as making plans to grow even
| faster and take a more important place
in the field of Washington finance.
The Comptroller Of the Currency has
! approved the plans of the Citizens Saw
| ings Bank for the purchase of the Home
Insurance building, soon to be known
as the Citizens Savings Bank building.
The plans for financing the building
were clean cut and in line with the
safe policy that has ever marked the
conduct of this institution. Moreover
the title company entrusted with the
/ lD,, 1f hoo A1 he