The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-03-25
SIEVE n 7 H ST.
BANK SERVES
ITS AREA
Savings Institution Is Among
Smaller Growing Financial
Establishments of City
By RICHARD HATTON.


One of the main arteries Of travel
IN and out of the city ana, espe,
cially, into the growing coH-ueICseAl
district around the old Patent Office
q Seventh street. Located well out
on this thoroughfare IL the Seventh
Street Savings Bank which was
organized in 1912 and which, since
that date. has made steady and
substantial progress as the grow
ing business of the institution has
indicated and as is attested by the
ureseut value OF the banks stock.
The Seventh Street Savings Bank
occupies q handsome, modern bank
ing building at the corner of
Seventh and N streets northwest,
which was completed In 1913 and
was built to answer the demands
of increasing business. The present
quarters OF the bank stand out as
one Of the neatest business build
ings OF the section OF the great
business. street upon which the in
Htitution is located and behind its
substantial brick facade there Is q
large and well-equipped banking
room flanked by the offices OF the
bank officials and convenient space
Tor the banks customers.
Behind the business counters that
ring the main office are the vaults
Ihnd the safety deposit department
where every modern security and
convenience is provided. The bank
carries on general commercial
Ind savings business and Its soca-
ion attracts many who prefer to
avoid the heavy traffic OF the down
Town section.
Capital Stock Doubled.
The success OF this institution,
ince its organization, may be seen
n the fact that its capital stock
was doubled In 1924 because Of in
pressing business and, when this
Increase occurred, there was not a
single share Of the new stock issue
,lhat was not Immediately absorbed
BY the original stockholders.
In the construction Of the new
bank building, which was COM
pleted shortly after the organiza-
tion Of the bank, every effort was
made to erect an edffice which
would be q credit to that section
OF the city, as well as to afford
complete facilities for the increas-
ing business for some time to
come and provide absolute safety
Tor funds and for holders Of safety
deposit boxes. The result has been
one Of the neatest and most ade-
quately equipped of the smaller
banking buildings in the city.
Officers OF Bank.
The officers OF the Seventh Street
Savings Bank are: Somerset r.
Waters, president; A. H. PIugge,
first vice president: Harry Kauf-
man. second vice president; John
ID. Howard, cashier: Elmer O'Hara,
assistant cashier, and Charles s.
Shreve, jr., counsel. The directors
are: Henry G. Bergling, Willoughby
8. ChesIey. Charles w. Fairfax.
Isador Freund, John w. Gregg,
John d. Howard. Harry Kaufman,
Michael O'Hanlon, Isaac Gutenberg,
Rodger O'Hanlon, Alexander H.
Pitt, August H. P1ugge. Henry j.
RUPERT, Charles s. Ehreve, jr.,
Patrick Shugrue. Joseph b. Thomas.
Somerset r. Waters. John r. Wey-
rich. John r. Wright, John b.
Koib and John A. Schaefer.
The capital stock of the Seventh
Street Savings Bank is 100000.
It's surplus and undivided profits
are 500, 074.74 and its deposits
amount to 81. 531 ,374.2S. It's total
resources are $1,752, 1887. For the
of it's customers, the
hank IL opened at $50 o'clock in
the mornings with special evening
barking hours on Saturdays end
extra hours on other days upon
which extended banking facilities
are desirable.
Because of its location, the Sew
enth, Street Savings Bank carries
o large number of commercial ac-
counts as well as many household
accounts and savings accounts. It
IL found especially convenient as
a banking place by the many COM
mercfal houses in the district and
its customers cover a large area
in the upper section Of the city.
The availability of parking space
for automobiles is an added attrac-
ton to doing business with this
bank and the officials have won
the friendship OF the many Giants
of the institution through their
friendly, helpful attitude and inter
est
The bank has made rapid strides
since its organization and is. to.
day, in a strong position by reason
OF It's capable management, its
popularity and the high quality of
It's service. 1t fills a distinct place
in the community which it serves
and is among the growing smaller
financial institutions of the city.
Canadian Wheat