The Washington herald., 1922-03-23
LOCAL TRUST co
TO ENLARGE REAL
ESTATE QUARTERS
Washington Mechanics
Installs Thrift Device
In Schools.

The Washington Loan and Trust
coppany is planning extensive i'm
prosements for its real estate de-
paTtment. rendered necessary by
greatly increased business, ii de-
veloped yesterday.
The present quarters of the de-
partment now located in the build
Ing adjoining the main building on
Ninth street. will be torn down and
In Its stead will be erected a modern
fireproof structure, four land pos
sibly five) stories high. containing
vault, to cost in the neighborhood
OF $4,000.
The new building will be erected
In accordance with the most ad-
vanced ideas in construction, and
much glass will be used for the
lighting effect. The structure will
also contain an elevator.
Construction plans. which will be
completed within the next few days,
call for once space on the first
three floors, with a new board OF
directors room. library. and lunch
room for officers and employees of
the institution. on the fourth floor
The FIRST floor will also boast a
mezzanine,
The proposed structure will cover
q space of 10 feet 4 inches 'front.'
ing on Ninth street. with a depth
OF IS feet II is understood the s.
II. Ehmondston Company has been
awarded the contract for construc-
tion. which will be under the per-
sonal supervision of Thomas Brad
ley. vice president and real estate
officer of the trust company.
Takes First Thrift step.
The Washington Mechanics Saw
ings Bank has taken the first real
step to encourage thrift among
school children of the District. it
developed yesterday. This institu-
ton has installed automatic slot
machines in several schools in the
southeastern section in which slots
for pennies, nickles. dimes and
quarters are provided. For every
coin deposited a stamp for the
: corresponding amount is received.
which is pasted in a cardboard
folder. When the folder accumu-
gztes 81 or more 1t is taken to the
bank. where a savings account.
drawing compound interest at the
rate of 3 per cent Is opened.
Ezra Gould. president of the
above-named institution. yesterday
stated the first machine garnered
500 during the first two days of
operation.
May Name Assistant Secretary.
II is expected that at the next
meeting of the council Of admins
tration Of the District Bankers As
sociation a plan leading to the ap-
poirtment Of an assistant secretary,
on a salaried basis. will be enter
tained. II approved by this body
the proposition will go before the
entire association for action.
Tnasmuch as the association will
probably take over the second floor
OF 1the Masonic Temple for perma-
nent quarters and will share this
space with the local chapter. Amer
lean Institute of Banking. IL would
appear there will be quite enough
work to warrant a move Of this
sort
Likewise. under this plan. the ad-
vantages ot having a permanent
headquarters Of both bodies. to-
Eether with a representative always
onFshe field. would be invaluable
Local Securities.
Potomac General Electric IS were
in good demand on yesterdays ses-
sion Of the local stock exchange.
ssS being bid and continued to the
close. despite some transactions at
that price.
Stocks were only moderately ac-
tive and fairly firm at 95 for Capt.
tai Traction. 69I to So for Railway
prsferred, and so for Lanston.
Quotations on the nOn-active
stocks were only slightly changed.
as will be observed by the bid and
asked quotations
From yesterdays Official sales
sheet. the record of the stock eX-
change. sales of $1,000 Refunding
and Improvement Is of the Potomac
Electric Company at 1861. Railway
Is at 6s&, and Potomac General
Manufacturing IS at 1914 were
omitted.