The Washington times., 1914-02-04
NATIONAL SAVINGS
TO START BUILDING
Trust Company Completes Its
Plans - Stock Exchange
Acts on Owen Bill.
By GEORGE H. GALL.

The National Savings and Trust
Company is about to erect the largest
and most elaborate banking house in
the city. This is the belief of officers
of the institution who have been con-
sidering the plans. The building COM
mittee will go over the final draft of
the plans at a meeting this afternoon,
and they will present them to the
board of directors at a meeting next
week with a view to an early start
upon construction.
The new building will be purely a
banking house, and while some offices
may be available on the upper floors,
the plans do not contemplate an office
building in any sense. The building is
to be of marble or granite and will
cover the present site and fifty feet
of the adjoining Lehman Building. The
style will be in keeping with that of
the adjacent bank and public build
ings. The classic design will be car
ried out with pilasterS instead of col
umns in order to gain a maximum Of
light in the big counting room.
The basement will contain a vaule s.
by 3S feet in size, the largest in the
city The plans have been drawn by
Appleton P. Clark: jr., architect. The
company has long been considering
plans for a new home, and numerous
designs have been considered, but 1t
was said today that the final design
is now ready for approval Of the di-
rectOrs.
Stockholders of the Franklin (Fire)
Insurance Company are accepting the
offer of President Kelly to buy their
stock at slightly under the book value,
1t was learned today. There is 30 per
cent OF the stock owned in Washing
ton.
The only feature of the trading. which
was smaller on the local stock ex-
change today. was the sale Of twenty
125. 1t has been long since any of this
stock has changed hands, and this is
the highest price since August, 1912,
when a similar lot sold at 129. The high
est price ever reached by the stock
was in April Of the same year, when it
touched 145.
The bond trading today dropped off
sharply, amounting in all to only $500,
of which 5000 was in Potomac Con-
solIdated SIS at par and the other Of
Georgetown Gas certificates of Indebted
ness carrying per cent interest, which
were sold at 1g.
Washington Railway and Electric
common brought a higher price, 81, for
a quotation lot 1t was the only sale:
Twenty shares of the preferred sold
after call at 90.
A quotation lot of Mergenthaler was
obtained at 2157s, but 2l6 was paid for
a second lot 4 quotation lot of Ma
tional Metropolitan Bank sold at 100,
the recent level. The only other stock
sale was of seven shares of Capital
Traction at 113.
The Owen stock exchange bill, upon
which hearings We're commenced today
before the Senate Committee on FL
nance was the subject of consideration
a Ia meeting Of the governing committee
of the Washington Stock Exchange this
afternoon.
1t was stated after the meeting that
while the exchange does not believe
that the measure will be enacted into
law, the President was authorized to
appoint a committee to appear at the
hearings or to take whatever steps may
seem advisable. The committee will
confer with representatives OF the New
York an dOther stock exchanges who
are in Washington attending the hear
iugS