The Washington herald., 1912-04-19
]. S. TAFT 10 HEAD
BANKING CONCERN
0fRcers Named for Newly Organized
Warrington and Southern
Bank. Inc.

Announcement was made Yesterday Of
the list OF oficers and d9incorporators OF
the newly organized Washington and
Southern Bank, Incorporated. which a
10 be located at 1913 g Street North
west. The bank viii open for business
Thursday, April 8
J. selwin TAFT. for many years mana
ger OF the washington branches OF the
International Banking Corporation, viii
be the president OF the new banking In
stitution. Robert J. Wynne. formerly
Postmaster General and consul general
at London, will be the rrst vice presi-
dent, and Charles MuIiIlxin. formerly
president Of the First National Bank. Of
Berryvflle, Va. second vice president.
Thomas P. Morgan, jr., assistant mana
ger OF the Washington ofices OF the Mus
tual Life Insurance Company. has been
named third vice president
The list OF incorporators includes the
oficerR mentioned and other well known
business men and government ofncials
OF Washington. They are G. C. Calhoun.
Alan p. Hume, c. H. Ridenour. 8. W.
woodward, Arthur c. Moses, Director
OF the Mint George +. Roberts, r n
Edmonds. w. N. Somerviile. Brig. Gen
W. Pennock Rogers. and Robert h Cnap-
man.
Capital Stochg FACOSoSSs
The washington and Southern Bank.
Inc, Is a State bank organized under the
laws Of West Virginia, which viii oper-
ate under the supervision OF the Treas
ury Department. The capital stock IL
uooOoo and the surplus, $500. The
stock is widely distributed, and is all
held locally,
In addition TO local commercial bank
ing and savings bank business, the new
ly Organized institution will be pre-
pared to handle general Southern bank
InE business The bank also will special
ize in the transacting OF foreign ex-
change business II VIII be well ftted
to handle this type OF banking, as II
win be operated under the guidance OF
its president. Mr.. TAFT. who was Tor
many years connected with both Ameri-
can and foreign branches Of the Inter
national Banking Corporation, and is
therefore well versed In every phase OF
international banking. As the result OF
his international banking connections
Mr.. TAFT is well known by members OF
the diplomatic corps, many OF whom
VIII no doubt have deposits In the ne"
bank.
Deposit Draw Interest.
The washington and Southern Bank
proposes to pay per cent interest on
savings deposits and adapt its banking
hours for those accounts TO the require
ments Of the government departments
especially during the monthly and sens
monthly pay periods. The ONCE force
viii include a sufficient number OF tellers
TO avoid the keeping in line OF deposit
org whose time Is limited. The per-
sonnel of the ONCE force OF the new
bank has not yet been announced. 1t Is
known, however, that Ira b. Dalrymple,
who was untn recently connected with |
the International Banking Corporation |
will be the assistant cashier.
The quarters in iG Street. which have
been selected by the bank, are well
fitted for such an institution. Large |
plate glass windows at the front insure /
a well lighted banking room.
The interior has been thoroughly mod
ernized and arranged for banking pur-
poses 1t is finished in dark oak with or
namental iron work about the telleris
windows. Provision has been made for
a private once for President TAFT IN |
the front, ana ample bookkeeping offices /
in the rear.