The Washington herald., 1921-06-25
EXTENSIVE PLANS
BEINCCARRIED OUT
BY BANKING HOUSE
National Bank of Wash
ington Plans Most Mod
:Sern Establishment.
VOTE HOUR CHANGE
Local Financial Institutions
Agree to Eliminate Satur-
day Night Business.

The National Bank of Washing
tan which was organized in 1903.
isScelebrating its 112th birthday by
making extensive improvements
which, when completed, will make
that institution one of the most
madern banks in the city.
sIaz order to keep abreast OF condi-
tions. and to satisfy the wants OF
thzspublic, an elaborately equipped
sffety deposit vault, having a capac-
ity of 1900 boxes Of various sizes
viii, be Installed on the main floor
together with other extensive I'M
proyements. =
II Is not generally known that
national banks have the right under
certain conditions TO act as ex-
eeutor. registrar, trustee, etc. but
TO this end the National Bank of
washington has fully complied with
ACKNOWLEDGEMENTS, and among the
improvements scheduled is a fully
equipped trust department. The
main banking room will be beauti-
fully finished in Italian marble
bronze and plate glass.
The second floor will contain a
directors room finished in cherry'
and one large room for the work.
ing force, containing steel lockers
ana filing devices. This room will
also. serve as a reading room. The
entire third floor will be used as
hail.
The work is progressing very
rapidly. and at the present time In
dicztions are that the improvements
will be completed not later than
August Is. Oficials of the institu-
tton assure the public they will find
at their command when all i'm
proVements are effected, a beautiful
and, spacious banking room fully
equipped with every convenience
both for the customers and the
clerks.
builder. Is doing the work under the
plans and specifications of architect
Eugene Waggaman.
-, shorter Banking Hours.
]. Frank Rice. manager of the
savings department of the Lincoln
National Bank, is responsible for the
move just consummated whereby
thirteen of the fourteen banks now
maintaining Saturday evening hours
will eliminate such hours during the
months of July and August.
This agreement is to remain IN
asserting institutions giving writ
ten assurance they will give thirty
days notice of their intention to re-
open during the specified period. 1t
is further understood that If any
one of the banks signing the petit
ton opens or declares its inten-
ton to open any year during July
andAugust for Saturday night busI-
ness the agreement shall become
void to all and of no effect
A copy of this agreement will be
fled with the manager OF the Clear
ing House Association, and any no.
tice. to withdraw from the agree-
ment shall be made known to him.
The following banks complied
with the agreement: Lincoln Ma
tiopal, Franklin National, Bank Of
Commerce and Savings, Security
Savings and Commercial. Standard
Savings, Mount Vernon Savings,
American Security and Trust
Company Southwest and central
branch), Seventh Street Savings,
Hamilton Savings Central branch)
and the United States Savings. An
outlying savings bank in the North
east section cast the only dissenting
vote
That the success of Vice Presi-
dent Andrew Parker and Director
John H. Clapp. of the Washington
Loan and Trust Company, is not
confined to banking is evidenced by
fabulous reports coming out of
Florida telling of recent catches of
l30-pound terrapins.
A F. Fox, president of Columbia
National Bank, is taking an ex-
tended vacation at Buena Vista
Springs Hotel Mr.. Fox is accom-
panied by his daughter.
Donald NJ Earil, formerly chief
of the bond division of the Federal
Farm Loan Board. is now associated
with the F. H. Smith Company, hav-
Ing an official berth in the mortgage
investment department.
Dividend Declarations.
Norfolk and Washington stss,,-
boat Company will nav q per cent
quarterly dividend July /; books
are closed.
American National Bank, quar-
terly dividend of per cent is paw
aoe1July l to shareholders of rec
ord June IS.
National Capital Bank will paw 5
per cent semi-annual dividend June
800. books closed June 81 to 30.
FARMERS and Mechanics National
Bank, of Georgetown, will pay 4 per
CENT semi-annual dividend July /
to Shareholders of record June %
SECURITY Storage Company will
pay.nthe regular quarterly dividend
OF - per cent July 1. and an extra
distribution Of 1 per cent on the
same date to shareholders Of record
June 80.
Local Securities.
Bonds assumed the leadership or
the local exchange yesterday, the
session opening with sales Of wash
ington Gas IS. netting an aggregate
OF $4,000 at IL. Capital Traction Is
were disposed of to the extent OF
$4,000 at s73s.
Thirty shares of Capital Traction
stock changed hands at s5h, and
shares Of Mergenthaler at Ilsx con.
cluded the session
Local banks asked per cent 70,
call funds, with per cent as the
maxjnumu bid.