The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-12-09
observes
TH|RTY-FFTH
BIRTHDAY
American Security and Trust
Company Shows Large
Growth Since 1890

Charles j.. Bell, president o. the,
American Security and Trust Com. !,
pany, and other officers Of thar IN.
gtitution today received congratuia-
tons from leading Washington
bankers and hundreds OF friends
and depositors on the thirty-ttfth
anniversary Of the bank.
Just thirty-five years ago today
the American Security and Trust
Company opened its doors to the
public in Washington. .. c.. having
been granted a charter October IL,
1889, under the laws Of Virginia TO-
operate a banking and trust BUSH
ness in this city.
The first office Of this institution
was located at 1419 @ street north.
west and to conform with the char
ter. had an office N Alexandria Va. I
New and permanent quarters at
i405 G street northwest were com.
pleted to house this bank which IN
Its first year Of operation had over
$3.50, 900 in deposits and $770,937.50
Of its $1,250,000 capitalization paid
up.
Grows Steadily.
Beginning with 1872 depositors in
it's first year Of existence, by the
start Of the Goth century the mum.
Der totaled over $500. Following
the policy Of building up its surplus
as a protection to its customers.
this item reached the $500, 900
mark in 1901, and the Dividend
rate at per cent reached per
cent beginning January, 1909.
The new banking quarters. It's
present site, were erected on
ground of historical interest. This
particular site had associations
that were of a financial nature
since the first building erected on
it in 1S23-24, being built by the
government to be used az q branch
in this city Of the United States
Bank.
The American Security and Trust
Company moved into its new builu.
ing December Ii. 1905.
Purchase Savings Bank.
On March 10, 1913, the company
entered into an agreement for the
purchase Of the assets and business
Of the Home Savings Bank, an
institution with four banking Oh
fices and over $1O,000,OO0 In re-
sources.
The banking houses of the Home
Savings Bank became the Amer
lean Security's Central, Northeast
and Southwest branches, while
their Fourteenth street branch
business was transferred to the
main office.
Today the American Security has
a. capital, surplus and undivided
profits OF over $4,000, 900; deposits
totaling 100000, and resources
of over $36,000,00O. With an Off
cial staff and board of directors
consisting Of persons well known in
this city, 1t is one Of the largest
trust companies here, maintaining
five banking offices and offering to
the public every banking service.
For the past, three years it has
been paying a regular IL per cent
dividend with per cent extra each
year.
1t is interesting to note that at
the present time the following Of
ficers have been with the company
fifteen years and over:
Charles ]. Bell, president; Cor
coran Thorn, vice president; B. r.
Saul. vice president: Howard Mo-
ran, vice president; Howard s. Rec
side, vice president; James F. Hood,
secretary: Charles e. Howe, treas
urer; Alfred B. Leet, trust officer:
David N. Houston. assistant trust
officer; T. Stanley Holland, assist
ant trust officer; w. w. Keck, as
sistant treasurer: James G. DIlin,
jr., assistant treasurer; Arthur G.
Nichols, assistant trust officer;
Kenneth F. Brooks, assistant trust
officer: Fred u. Hanks, assistant
treasurer; E. e. Swan, assistant
treasurer; Hans w. Ireland. as
sistant treasurer.