Evening star., 1922-12-05
LINCOLN NATIONAL
! PLANS FOR BANK
Will Erect New Structure. at
726 18th Street Northwest.
Other Matters.
BY ]. A. FLEMING.

BY ]. A. FLEMING.
The Lincoln National Bank has been
given the right to open a branch BANK
AT 12S 18th street northwest.
1t has been matter of common
knowledge that the application TOT
such privilege was on file with the
controller of the currency ana has
been posted for ten days.
The present structure on the SITE
named will be torn down and the Lin
rpln National Bank will erect on the
. lot a modern. upto date BANK ouiio'
ing. provided with full facilities for
the transaction OF banking business
in all its various stages
Messrs. E Floyd Davis, A. S. Cat
ley. John w Brawner. S. Dana Lin
coin and George p. Pumphrey nave
heen named a committee TO put over
the new bank. and they Will shortiy
make a trip to midwestern cities TO
look over banking architecture as II
exists in Detroit. Chicago. st; Louis.
cincinnati and other places in that
section.
When the new building is finally
completed it will be thoroushly ntsea
for its purposes, with banking de-
trust department and featuring a
women's department. with waiting
and writing rooms. etc.
The Federal Reserve Board gave
tffe Lincoln National the right to all
trust company privileges some time
ago. but it has never exercised any
of the functions.
A new trust department will be made
a fixture of the branch bang. ano tnele
will also be installed a safety deposit
vault with ample box accommodations
for growing trade.
The site of the new bank building
is on 17th street, midway between
PENNSYLVANIA avenue ana II stfees
northwest. The lot has a Wldth OIL
thirty feet.
The Lincoln National Bank has en-
joyed a wonderful growth in the last
twelve years. its deposits mounting
10 $s.Sso.00o in that period from VI
100000. The capital stock OF the bank
IS 100000. while the undivided sur
plus and profits are S44s.0o0. Stock
holders are held under double liability
That the Lincoln National Bank plans
a real bank for uptown does not mean
the main bank will in any way be
neglected. On the contrary. plans are
under way for the enlargement OF
the banking quarters just as soon as
the lease Of the property on the South
Of the bank on 7th street expires.
Some time ago the bank purchased
the lot adjoining ita home. twenty
four feet wide. and it is this property
that will he uSed in charging the
main banking quarters.
National Bank of Washington.
While on the subject of branch
banking. il may be an appropriate
time to deny, with the official approv-
al of Vice President Trimble, the re-
ports that are current on the street
that the National Bank of Washington
fsplanning to open branch bank up
town.
Specific location has been indicated
in the runlors as in the proposed
Transportation Building to be erect
ed on the site of the RACED Richmond
Hotel at 17,h and II streets, north
west.
The plans of this building provide
tdr a large banking room on the main
Moor. and it may be that a year or
moro hence. when completed. some
hank may find conditions so improved
as another bank in that section.
Christmas Savings Helps Trade.
Washington merchants are now en-
joyins season of real prosperity.
,oming with the shopping of the
early buyers and of the army OF
christmas Club members who are
now enjoying the fruits of their year
of saving. having acquired fund of
over $o000.000. nearly all of which
will go to make the shopping and
gift season merrier for the thrift of
the club people.
with each recurrent season these
savers are doing more and more for
their home town trade, with every
indication that the end OF 1928 will
produce nearly 100000 to add to
the holiday business.
The Riggs National Bank today an
nounces that the various banks other
Than the Pennsylvania avenue insti-
tuition. will all inaugurate Christmas
savings clubs and hope to report over
fe50.0OO for the 1928 season.
The former Hamilton Bank. at 14th
htreet and Park road. and it's branch
at eth and streets. will disburse $780,
600 from this years fund. not mem
fioned heretofore. which with pre-
%tous reports brings the distribution
we'll above the $2.000,000 mark.
",December IL next, the 1928 clubs
will start on the yearly round OF saw
Sng One may save as little or as much
as desired weekly.
Chevy Chase Savings Annual.
The Chevy Chase Savings Bank
Rnodestly acciaims itself one year old
with December 1.
: Its officials find much personal sat-
4sfaction in the work of the year. in
that they have opened 1850 accounts.
thereby demonstrating beyond the
question of a doubt that the bank
was needed Just when it was started.
Starting December 1, 1921, with |
deposits of $25,416I2. the bank re- i
ported deposits of S12o.360.5z at the |
end of its first six months OF exist |
"nce and in the second six months
almost doubled its deposits. report !
ing as Of December I. 1922. $780, !
fSb.57, and still growing.
The Chevy Chase Savings is in |
Washington; has a. capital OF $4,000:
s26S.12691.
1t is a true neighborhood COM
u;unity savings bank, and Edward III.
Jones, it's president. and his asso-
oiates. with J. f. Troth. cashier. are
entitled to credit for making the in
aitution what il is today-a success
9uf home bank.
No Entertainment Whatever.
When the administrative council of
the American Bankers Association
visits Washington during the week
of December 11-16 they do so with
the understanding that they are not
10. be entertained by local bankers.
as they desire to give the entire week
to calling on cabinet members and to
rushing the work OF their orSaniya-
IRON.
Joshua Evans, jr.. president of the
District Bankers Association. arrived
this morning from ST. Louis, and was
at once placed in possession OF the
wishes of the A. B. A. council.
a--->ps-~