Evening star., 1920-02-04
NEW BANK BUILDING
FOR GEORGETOWN
Wisconsin Avenue Corner Is
Chosen by Farmers and
Mechanics Board.

That Georgetown is to have a mod
| ern bank building equal to anything
| in the south was learned last night,
| when announcement was made by
| Harry V. Haynes. president of the
Farmers and Mechanics National
Bank. that the properties surround
| ing the northeast corner of Wiscon-
sin avenue and NJ street had been
( purchased by the bank. and the erec-
| ton of "A new building would be
| sta rted very shortly.
| As a result of securing this site
| the bank will not exercise the option
| il obtained several months ago on
| the property Immediately adjoining
it's present building at 3lst and Nj
streets.
The property just acquired will
give the bank a. frontage on Wiscon-
| sin avenue of etghty-two feet ana
twenty-four feet on NJ street. Owing
to leases on the Wisconsin avenue
propertieS which have several years
| to run, it might be impossible to
erect the whole of the new building
at once but il is hoped by the ofli-
cials that satisfactory arrangements
may be made whereby the whole
structure will be finished at the same
time. oo-
The lease on the building at 1905
Wisconsin avenue has eight years to
go. while those on 1907 and 12o9 ex-
pire in four years, said Mr.. Haynes,
but as the lease on the Nj street prop
erty runs out April l it has been de-
cided to start work Immediately 1ol-
lowing it's expiration.
4 meeting of the building commit
tee of the bank will be held tomor-
row. when the architect and builder
will be decided upon. and after plans
have been drawn up. work on the NJ
street property Will be started as soon
as permissible.
AS the great vault will be located
in the section of the building to be
started this spring. the transfer OF
the banks business from its present
location will he feasible as soon as
that portion of the bank IS completed.
1t is hoped, however. that all obsta-
cles will be removed that might re-
tard the work of completing the whole
structure.
The Farmers and Mechanics Bank
is one of the oldest and most widely
known in this section of the country.
1t was founded in 1913, and has been
located on its present site for over
100 years.
Public Debt Decreases.
In the last five months the total
public debt has shown a decrease of
about s930,000.0O0 and the floating
debt about $730.00o.000, Secretary
Houston announced today in compara-
tive statements of the public debt on
August 81, 1919. when the debt reach
ed it's peak, and on last January 81.
The decreases were due principally to
salvage and taxes.
New Savings Bank to Open.
Another new savings bank is being
organized in Washington. The new
institution is to be located at 9th and
X streets, in the Marble building just
completed by the international Asso-
citation of MachiniSts. The bank will
OCCUPY the ground floor of the new
building the vault of which was in
stalled during the construction of the
building. Attorneys r. Golden Dom
aldson and C. c. Tucker are the or
ganiZers of the new bank.
Mr.. Donaldson is chairman of the
board of directors and general coun-
sci of the Commercial National Bank
Capital stock of the bank will be
100000 or more, it is stated. 1t is
expected that the new bank will be
opened early in April. 1t is the plan
of the organizers to conduct COM
mercial as well as savings business.