The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1921-12-20
MELLON EXPRESSES
SATISFACTION OVER
NATIONS PROGRESS
Treasury Head Sees No
Reason for Complaint,
He Declares.
SMITH co. TO BUILD
Plan Erection of Ten-Story
Building to Facilitate In
creasing Business.
SMITH co. TO BUILD

NJ his regular conference with
newspaper correspondents held yes
terday afternoon. Secretary OF the
Treasury Mellon expressed himself
as being well pleased With the
strides business in general is max
Ing towards normalcy.
Mr.. Mellon called attention dur
lag the discussion to the present
rate Of sterling exchange contrasted
with figures OF a year ago. the alb
sence of complaints from cotton re-
gions. the present purchasing price
Of the dollar. etc. all Of which, he
ment Is web under way.
Furthermore, Mr.. Mellon added.
he regarded the limitation OF arms
tive; and that he sees no reason for
complaint nor to disturb the prog
ress which is being made.
IA p. Fl. Smith Plans.
R1rther evidence OF the growing
popularity Of the block bounded by
III and I streets between Fourteenth
and Fifteenth northwest, as a BUSH
ness location, is found in yester-
days announcement by the F. H.
Smith Company that they will erect
a new building on the site. s15-81f
Fifteenth street nrthwest.
Pending construction OF their new
quarters, they have leased the two
new buildings at 1914 and 1913 I
street northwest, and will move
there early in January.
The site which the new building
yin occupy Is 50 feet by 40 feet
deem. containing 1000 square feet.
The new building will cover the
ehtire plot 1t will be ten stories
IN height, of the most modern fire.
proof steel frame construction and
viii be one of the finest ONCE build
ings In Washington The exterior
will be Of massive lImestope with
granite base. The building will be
equipped with high-speed electric
elevators. The F. n. Smith Com
pany will occupy the entire first
and second floors of the building As
their main Offices. Their first floor
will have a thirty-foot ceiling with
mezzanine In rear. 1t will be nm
ished throughout in marble. The
hrst floor will accommodate the in
vestment and other Important Of
fees OF the company. Cages with or
namentaI metal fittings will be pro-
vided for the cashiers. The upper
floors Of the building are planned to
AFFORD exceptionally desirable once
space. Several prospective tenants
haze already spoken for once space
in the building and most Of the
space not to be occupied by the r.
Fl Smith Company has been re-
served
Fhe p. II. Smith Company was
rAnded IN 1873. Ths growth of Its
business has been steady and sound.
redoes q nationwide FIRST mortgage
iHestnent business These new
Garter, are being built to accom-
rAdate their Increasing business.
Itch has outsrown the proportions
% their present quarters. Tfrs new
o lee building viii be completed
aNh ready for occupancy about octo-
n 1 next, and At that time they
uanI vacate their temporary location
ae14i4-14is I street northwest. tax
"a possession Of their new build
a on the site which they have &C.
cpied for q number Of years.
3hhe estimated cost Of the project
i&about si.1oc.ooo.
A. I. B. Aansuneeaent.
President W. J. waller of the
american Institute of Banking calls
Attention to the fact that there 10
ne meeting scheduled IN the official
pheram for the elementary class
tonight
an keeping With the spirit Of the
rspidly approaching holiday season.
to rederai National Bank has pro-
vtosd that institution with beauti-
full Interior Christmast decorations.
Nuch regret was expressed In
banking circles here yesterday over
the death of Callahan ReAne. as
sfstant treasurer Of IN. Nunsey
rrrss renpauy