Evening star., 1922-12-04
RAILWAY COMMON
sold At g. TO@1!2
Traction FIrmer-Farrners
and Mechanics Plans to .
"0pen" New Home.
BY 1. A. FLEMING.

After many days Of iuaotion to-
days session Of tho local exchange
was attended with considerable d.
versined business. and for tho f1rst
time in weeks Railway common
| showed on tho sales sheet.
! In tho period Of dullnssS the bid
and asked price. have been quoted at
tho same," e11s bid and 81 asked.
1t was after tho regular call that
sales, wore made today: tho first. q
i00- share lot. sold at 81 and then q
I ten-share lot at 635. It had been
predicted that the stock would move
up. but the predictions were EVIL
IDENTIFY wrong.
The preferred stock also showed
! opening at IS to 76!s. q
In tho meantime Capital Traction
| moved up q fraction, selling from
| 1017 to 10e1s.
| The first transaction in Federal
! American National Bank stock since
! 1870. American Security ana Trust
| Company shares brought 2sl.
! I.anstoQ was in a little better re-
quest at 7sh to 7SE;
Railway IS were the only bonds
on the local list in which there was
I
at 74is for a round lot and 7a7s for
$500 bond.
Celebrate December 8, 1922
J The Farmers and Mechanics Ma
/ tional Bank Of Georgetown will Gel
, ebrate December s. by moving Its
cash. valuables and needful apperte-
nances from the old home. where for
1903 year. it has given faithful and
dilligent service to thousands Of de-
/ positors without the loss OF a penny
to any of the many who have trusted
"old reliable"
After spending more than a cen
tury in the old location on the south
| the old bank will now take posses
| s.or Of the beautiful and ornate
structure prepared for its use on the
| northeas. corner of Wisconsin ave.
nue. and NJ street. and all day and
| in the evening of the stb will be
at home. radiant and young once
more, with the officers and directors
on hand to welcome visitors.
It was in 1913 that the organisa-
! tion of the tAnk under the title OF
THE President and Directors OF the
Farmers and Mechanics Bank" was
begun. In that year also the by
laws were formulated and published
for four successive weeks. The rec
ord indicates that the bank was func-
| tioning February IL. 1914.
/
the directors held on that date is In
the possession of the bank today and
perfectly legible.
Among the items Of business re-
corded at this meeting IL a record of
a resolution. authorizing the fnveat-
ment Of the frst subscriptions to the
[ stock OF the bank Treasury notes. and
again May II. 1914. the cashier was
| authorised to take $4,000 Of the last
loan Of the United States and from
that day to this the bank has ever
| been ready to heed the call OF the
(, government for funds.
| The government was prosecuting a
! war at the time the $4,000 loan was
made, and later on the War Depart
| ment requested $4,000. as evidenced
by a letter from James Monroe. then
Secretary Of State. but acting secre-
| tary OF war. requesting that $4,000
be advanced In the absence of the
Secretary Of the Treasury to meet GER
tain drafts by contractors who had
furnished rations to an expedition
down the Mississippi river.
On March 3, 1917, the bank was char
tered by Congress and Its titlo ex-
tended again and again until the ma
tional charter was taken out in 1872 un-
der its present title. the Farmers ard
! Mechanics National Bank Of George
! town"
During the years Of its existence
the bank has repaid It's stockholders
fair dividends; with the same capital
stock. S262.000. has accumulated q sur
plus of $29S.000 and has 500, 900 un-
divided profits.
Banks have reared their heads in
competition alongside the Farmers and
Mechanics National. several Of them,
for Georgetown was the business cen
ter at one time, while but one COM
petitor remains today-the Potomac
Savings Bank. on the opposite corner
from the new Farmers and Mechanics
National home.
The Farmers and Mechanics National
has lived modestly. 1t is still housed
where 1t has been for over a century:
remodeled over and over again, but It
had ceased to be up to the require
ments Of a modern banking home.
After many frugal years, Harry v.
Haynes. a modern up-to-date bank
president, decided to throw off the old
garb and follow trade to the new mod
err. {. building on the Wisconsin avenue
corner.
with the completion and OCCUPANCY
OF the new home. an expenditure Of
100000 will have been made without
encroaching on penny Of the banks
capital
George L. Nicholson. Robert D.
Weaver. ]. E. Dyer. William King and
]. McKenney Berry. the building com
mittee who have successfully put over"
the new bank building. are expected to
assist Mr.. Haynes and his fellow ON
GERS and directors at the grand OPEN