The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1925-10-16
ELIZABETH CITY MAY
GET A SKYSCRAPER
Purchase of More Land By First & Citizens
National May Revive Plans for
Tall Building

That the First & Citizens
National Bank NAV vet carry
out its original plans for a sky
Scraper hank and office build
ing on the site OF its present
Main Street location Is Sug-
geSted hv the banks purchase
this week Of an additional
frontage OF 29.O4 feet on Main
St. adjoining its present quart
erS.
With the ~ feet already occupied
the First X citizens National now
has Main Street frontage nf ap-
proximaicly ~ feet with Il depth of
~ feet on McMorriue st.
The bank originally owned Il front
age of only - feet OH Main 81.
After several years of negotiations
an additional parcel of ~ feet WAS
purchased Ct the late -. Il. Brad
ford in 1918. The price paid at
that time wa> 500 front foot. The
purchase this week cost them $500 Il
front foot. or just double the price
put upon the property hy its original
owner seven years ago.
At the time the purchase from ID.
y. Bradford waS made in 1918 the
First X Citizens contemplated the
erection of seven story bank and
office building. Architects were
called i'm and plans for such build
Ing were called for. But the build
i'm" material and labor shortage and
the high construction costs of war-
time caused the directors of the
bank To abandon their plans FOR Il
pretentiouS building right AT that
time and they cOntented themselves
with the enlargement and remodel
img of their old quarters.
That the new quarters were not
! considered permanent Is Indicated III
the fact that much of the interior
work was purchased second hand.
/ The present banking quarters OF
! the First X Citizens National were
never regarded aS more than a
/ makrShift by many of the younger
( officers and directors. Even within
the past two years it was found
: necessary To make number OF
changes in the equipment to provide
more space for receiving tellerS ana
note teller<. The present arrange
mpnt affords ample accommodation
/ for the banks present business and
/ will take care of Il considerable in
crease in the business now done. but
modern banking concerns are never
/ satisfied with merely satisfactory
Guarter<. Your modern bank houses
itself in Il building that impreSSeS
upon all who behold. something ot
its strength and permanency ana
{ reSOurcefulme>>.
Asked concernin" its plans for the
utilization 0f the additional Mam
81, frontage purchased this week
w. G.. Gather. active vice president
of the hank insisted that the dlrrc'
tors had no plans at all right i'll
rbiS time. 1T is reasonable to sup
n,Se however" said Mr.. Gather
"that the First 4 Citizens NATIONAL
will continue to grow and that Ill
some very remote date larger quart
erS mnv be desirable. We had al
opportunity to purchase the adul
rionol frontage and our directors
considered it highly desirable tC
make the purchase while the laho
waS available.
When Mr.. Gather came with int
First National Bank i'll l9l2 us ue
poSit< at the time were A3"''oV"
The depoSitS of the First N citizens
National to-day are over S".too wv"
ItS present banking quarters repre-
Scnt an investment of only apou
$40 600. Il large part of which Is II
vault and fixtures that co'liu o'
utiIfzpd i'm more modern hllildlhS
While the officers and directors
If the bank deny that they nave
amy Immediate plans for the new
rraI estate acquisition, those Wh'
hovn watched the progress of thu
h,nk for many years are gneSSlh'
that grass will not he permitted u
.,row nm that valuable little piece D