The Washington times., 1914-01-11
METROPOLITAN BANK
HOLDS CENTENNIAL
Institution Is 100 Years Old
Today Committee Conn.,
piles and issues History.
BY GEORGE H. GALL.

anniversary OF lne institution has been
brought to the attention OF the people
of washington by the issuance of invi-
tations to call on Monday end inspect
The Oldest National Bank in the Dis
trict of Columbia" As a further mark
of respect and commemoration the
bank has issued an elaborateiy prepared
history of the bank, q book containing
portraits of the presidents and pictures
of the old and new homes of the bank
and of the early money issued by the
institution. The work is copyrighted by
the National Metropolitan Bank, but
permission has been given The Times to
make some references to it's contents.
An institution that can trace its his
tory clearly over the period Of a cen
tury, particularly when that history is
one of steady progress, naturally has
some interesting things to tell about IT.
self. And so a committee consisting
of Arthur T. Brice, Cuno II. Rudolph,
and A. A. Boehling, jr.. was appointed
to get the history into shape. The re-
suit of their labors is the book just
issued.
The bank is not the oldest in the city.
but its cain to the title of the Oldest
national bank stands. The Farmers
and Mechanics National bank was or
ganized in the same year as the Met
ropolitan, and the present NationaI
Bank Of washington was organized five
years prior to that time.
Stock 0versubscribed.
On January 3. 1874 according to the
record. the subscriptions to the capital
stock of The Bank of the Metropolis
amounted almost to double the number
of shares, 5000, of a par value Of so.
The bank was organized eight days
Iaf Tla Of VyaghfnOfnr
then was 1S,247.
The presidents of the institution were
men well known in the history of the
District of Columbia Gen. John Peter
Van Ness was the first president. He
was elected January IL, 1914, and served
until he died on March z, 1876. John W.
Naury succeeded the first president on
March II, the same year. He also
served until his death, February 2, 1855
and was succeeded February by
Thomas Carbery. Carbery died May e,
1862. His successor was not chosen until
September I. George Lowry then as
sumed the Office and held il until he re-
signed July 3, 1865.
John W. Blake, who was the first ma
tional bank president, was elected April
On the same date John w. Thompson
was elected and served until TesiSna-
ton, June l, 1887. r. Southland Parker
then assumed the presidency and served
until his resignation and the election
of the present president, George W.
White, January l3. 1909.
All were men prominent in the af-
fairs of the National Capital and sew
eral were mayors of the city. The
father of the present president was an
employe of the bank forty years and at
his death in 1890 completed a service Of
twenty-four years as cashier.
First Charter Granted.
The bank began its career as "a COM
pany or limited partnership" Its first |
charter was granted by Congress in
1917 In 1874 the banks charter expired |
and the property and assets were trans |
ferred by the stockholders to trustees. |
They conducted the business of the in |
stftution until in 1865 the bank was re- |
organized as The National Metropoli- |
tan Bank OF Washington" under the ma |
tional banking associations act of 1S6i |
In 1904 the bank took over the Citizens |
Bank and changed its name to |
the National Metropolitan Citizens |
Bank of Washington. In 1906 the name |
was changed to the present one.
The bank has survived three wars, |
seven severe panics. four interpretations. |
and other changes and consultations. |
Its first home was in the building at the |
northeast corner of + and Fifteenth |
streets, now the home of the National |
Press Club. 1t was purchased in 1914 for
n.
There IL remained until 1885, when a new
building was erected on the lot adjoin-
ing on the north, the present site. After |
various alterations the present modern |
structure was built in 1907.
Some of the peculiar experiences |
which the bank passed in the
various crises that arose in its history
are related. The minutes Of the board |
meeting for August a, 1914. simply re-
late that there was no board on ac-
count of the enemy's approach to the |
city and the engagement at Bladens-
burgh. At . p. m. the cashier moved |
all the banks effects for safety, and on |
the 9th deposited the specie and notes
in the bank at Hagerstown." On Sep
tember ; the cashier returned and !
opened the bank for business.
The minutes of March -. 1915, record |
the heroism of one Mrs. Sweeney. The !
board allowed her sion for having been |
in preventing the bank be-
ing burned by the cnemy in August |
last" The details of this incident arc |
not recorded. Many OF the public build
ings Of Washington were burned by the |
British at that time.
on Tuesday next the bank will prob
ably take formal action looking 20 its
entry into the new Federal reserve |
system.
This is the week of annual meetings.
Monday the District Title and Washing