The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-03-03

the strongest nation in the world, to
recall one of the earlier banking in
situations of the Capital City and it's
contribution to the history, not only
OF the District of Columbia, but of
the United States of America Pres
idents and political parties have
come and gone, the country has
emerged from a struggling collection
of colonies into the greatest and
strongest commonwealth known to
history and far more Of the progress
and prosperity which has attended
the development of the nation is due
to. the great banking institutions of
the land than is generally credited to
them.
Interesting History.
Among the historic banks which
contributed to the upbuilding CT the
young republic and which have con-
tinued, through good times and bad.
to be a bulwark Of the national credit
the National Metropolitan Bank, 1.-The
oldest National Bank in the District
of Columbia" stands out as an ex-
ample of the highest traditions in
American finance combined with a
patriotic spirit Of service equaled by
few institutions of it's kind in the
COUuIN, anu IL Is d IIlOLIuIIlCub "
khose who founded the bank and
Rse who have, to this day, carried
with the same high standard OF
ing integrity
rty years after the surrender
orktown the Government had
aged to establish a financial pol
~ for the young republic and to set
the wheels of commerce and trade in
motion. The National Metropolitan
Bank was first organized in 1914 and
General John P. Van Ness was elect
ed the first president. At that time
the population of Washington was
1921. The first charter was grant
ed the institution in 1917. 1t having
operated from its foundation until
that date as a company or limited
partnership. The National Metro
politan Bank began its business in
q building at the northeast corner of
+ and Fifteenth street and occupied
this site until 1886, when it moved
into a newer building on the present
site. In 1907 the bank occupied its
present quarters, a handsome white
marble structure of seven stories,
comprising a banking and office
building with all modern require
ments. including commodious safe
denosit vault. ~
The history OF the National
Metropolitan Bank may not be dis
associated from the financial history
Of the country and the city of
Washington. In 1915, the bank
subscribed generously to a loan to
the Government for the purpose of
rebuilding the public structures de-
stroyed by the British during the
occupation Of the city. The bank.
also, responded periodically and
literally to the requirements of the
Government during and following
the War of 1912, and it lent in
valuable financial assistance in
many national development projects
OF early days. In 1888, the National
Metropolitan Bank, by agreement
with the Secretary of the Treasury,
became a Government depositary.
The act of Congress Incorporating
national banking associations was
passed on June 8, 1864. and on
March "a, 1865, the bank was re-
organized under the name of the
National Metropolitan Bank Of
Washington with a capital of
$3.50, 900, and thus claims the dis
tinction of being the Oldest national
bank in the District of Columbia.
In 1904. the bank took over the
assets of the Citizens National Bank
and continued its progress with q
new capital of 100000. In every
national emergency it has stood
well to the 'fore in patriotic
financial service.
From it's foundation the National
Metropolitan Bank of Washington
has had the counsel and assistance
of the foremost business and pro-
fessionaI men Of the community as
officers and directors, the personnel
at the present time being George
W. White, president; o. Ii. p. John-
son, vice president: Frederick De G.
Faust, trust officer: &. +. Jacobsen
cashier; j. Gales Moore. auditor; c.
L. Bright, assistant cashier; A. II.
Bedford, assistant cashier, and G.
L. Eckloff, assistant cashier. The
directors are Arthur T. Brice, Wal
ter BrownIey, F'redeick De G. Faust,
William +. Guide, Charles Jacobsen,
o. H. p. johnson, Rudolph Kauff-
mann, Doctor J. Thomas Kelley, jr;
Major Henry Leonard, A. Lisner,
Townley A. Mckee, c. +. r. Ogilby,
]. III. Ralston, Frank p Reside,
Hugh Reilly, Z. Francis Riggs, Viii
liam Fl. Saunders, Herbert T. Shan
non. H. G. Sheridan, Thomas Somer-
vile. Walter X. Tuckerman, John
c. Weldon. Henry A. Willard, End;
w. A. Wimsatt, and George w.
White.
The present president of the
National Metropolitan Bank, George
w. White, was born and educated
in Washington. He has been al
the head of the institution since
1909 and to him is due much OF the
credit for the present flourishing
condition of this institution which
has played such prominent part
in local and national financial de
yelopment. The bank, today has
assets of well over $1S,OOO,OOO. II
carries accounts of firms and in
dividuals, makes collections, issues
travellers checks and letters OF
credit and buys and sells. on order
securities and foreign exchange. II
maintains fully equipped savings
department., a safe deposit depart
ment and a trust department which
acts as trustee, executor and ad.
ministrator and carries on all other
functions of a fiduciary nature
There is a special department where
ladies may transact their banking
business.
President Madison signed the
treaty OF Client in 1914 opening q
new era for the United States. With
the development of the National
Capital and of the nation during
the progress Of this era the National
Metropolitan Bank of Washington
has been Intimately and construc
lively associated.