Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-11-15
Washington Topham Col|ates
Facts and Figures From
the Early Records.
TRACES SYSTEMS BACK
TO FIRST INSTITUTION
Two Banks in Operation Before the
National Capital Was Estab-
lished Here.
To the Editor Of The Star:

To the Editor Of The Star:
In getting in closer touch recently with
the absorbing currency question l have
collated some interesting facts and fig
ures relating to the beginnings of bank
ing in our city, and thought they might
prove of interest TO our people at this
thine. | should be glad If you would give
them a place in The Star.
When the seat of government was es-
tablished here in 1890 there were already
two banks in existence within the Dis
Itrict of Columba-the Bank OF Columbia
in Georgetown. with a capital of half a
million dollars. and the Bank of Alex
andria, with a like capitalization both
banks doing a good business.
The Bank of Columbia was established
in 1893 by Samuel Blodgett and others.
and was the first institution within W ha t
afterward became the District of Column
bia. But it was not until 1909 that what
was then Washington city could boast
OF bank of its own. It's need for bank
ing facilities was demonstrated by its
growing population, which. a year later.
1910. had exceeded that of either Alex
andra or Georgetown; and by act OF
Congress the Bank of Washington was
incorporated with 4 capital OF half
million dollars. It was located on Capt.
toll Hill. on the east side of New Jersey
avenue between B and & streets. Daniel
Carroll of Duddington was its first
president.
Union Bank Chartered
The Union Bank of Georgetown. D. c.
was chartered March H. 1911, with 5000, :
900 capi,,.l- Robert Beverly was its first
president. January II. 1914. the Bank Of
the Metropolis. now the National Metro.
politan organized and located at the
corner of 18th and + streets, with a capt.
tai of 100000 Cen John p Van Ness
formerly a congressman from New York.
and afrerWard mayor OF Washington
from 1880 to 1S34-Was its first president
1t afterward removed To the site it now
occupies. in the center Of the block
The Farmers and Mechanics Bank Of
Georgetown was organized February To-
1911. at Crawford's Hotel and William
.larbuTy was elected president. The orig
inal charter Of this bank was dated
March >. 1917.
The Pa tr.oric Bank was incorporated in
May. 1919 with $4,000 capital 1t was
first located OH Pennsylvania avenue be-
tween 9th and 10th streets. hut III the
late tWentleS il removed to its permanent
location. corner of eth and u streets.
Robert Brent the first mayor OF Wash
ington. who was mayor for ten years.
was chosen president and Overton Carr
cashier. In 1916 this bank opened say
ingS department, receiving sums Of 81
ana upward, upon winch III pdlC interest.
This was the first savings bank in Wash
mgton.
First Quarter Century
\ review Of the first quarter century
of banking in the National capital would
be incomplete without reference TO the
first Branch United States Bank. which
was established here in January. 1917, at
the northeast corner Of 18th and r
streets.
January - 1917. the following gentle
men We're appointed directors Of the
Branch United States Bank i'll Washing
Thurston, r. c. Weightman, George
Bomford. William Harrison Smith.
Thomas Tudor Tucker. William Brent G.
Graham. J. Dean, Thomas Swami. w. s.
Chandler and K. Parrot. Gen. John p.
| Van Ness was elected president and
| .,euben Smith cashier. and the bank be
| gan business February $, 1871. Sub
scriptions authorized to be taken under
/, Gen. Van Ness and others amounted II
!! 81 ...93, eco. an amount far iii excess of
| anticipations.
| Among the officers and directors Of this
bank many of the names will be readily
recognized as prominent in nationa! an ]
/ local history. The site occupied by this
1 bank IS what is now called the mystery
| corner but might better be STYLED the
| history corner. because of its promine nee
| in connection with this bank and its sub
/ Seauent history.
| The original building occupied by this
| bank WAS erected in 1901, the year fol
| lowing the establishing of the seat OF
government. 1t was of brick and thre.
stories in height with an old fashioned
i gable roof. The bank continued to occupy
/ this building. and was in successful
| operation until the removal of its I.
posts TO the Bank Of the Metropolis il
! 1884, and IL August 1875, at the eNpir;,
ton of the charter of tn. United States
l Bank. its property i'll Washington. con
4 sistinS of forty lots. improved and un
| improved, was advertised for sale
| From 1874 until 1876 Thomas Swami
Was president and Reuben Smith cashier
| Business and Residence Building.