The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-02-19
BANKS ARE AID
To BUSINESS
EXPANSION
American Security and Trust
Company Long a Leader
in Financial Circles
BY RICHARD HATTON.

DIV
The growth and development OF
any community may be measured
by the growth and development of
its solid financial institutions. 1t
is automatic that constructive civic
and commercial expansion must go
hand in hand with conservatiVely
directed banking expansion for, in
the final analysis, back of all ac-
tivities making for betterment of
business conditions, housing con-
ditions and transportation condi-
tons. three essentials to city
growth, stand the financial strong
holds of the community.
One of the necessary financial
strongholds of Washington for
American Security and Trust Com
pany which was organized in 1889
and which has, through it's con-
sistant, and well-directed banking
and trust company service reached
city's banking institutions.
Deposits s28,OOO,OOO.
1t is interesting to trace the
growth of this Institution through
the medium of it's depositors. The
first year OF its existance it car
ried upon it's books 1872 depositors,
with over 100000 on deposit and
$770,937.50 of it's 81 100000 capital
ization paid up, while TODAY, it
has over $4,000 deposit accounts,
capital of $3,400,00O, a surplus
of 81 100000 and it's deposits which
total over $4,000, 900.
The steadily increasing business
of the American Security and
Trust Company has necessitated
two notable expansions of it's bust.
ness quarters. The first office Of
the institution was located at 1919
G street northwest. From the
original location the bank moved
to 1405. G street northwest. Con-
tinued growth and the necessity
fore expansion, however, compelled
another move and the present
classical structure at the corner of
Fifteenth street and Pennsylvania
avenue was constructed and occu-
pied by the institution in 1905.
There is a particular interest at
tached to the present site of the
solidly artistic structure which
houses the bank and it's several
auxiliary departments for this par
ticular location has been connect
ed with financial undertakings
since the erection of the first build.
ing thereon in 1923 which was con-
structed by the Government to be
used as branch of the United
States Bank.
Operates Warehouse.
Some years ago the American Sc
curity and Trust Company expand
ed it's financial services to the COM
munity by organizing a Savings
Department which met with instant
response upon the part of the pub
lie. The trust field of the institu.
ton is one of it's greatest and
through years of faithful service ex-
banded along large lines.
In 1919 the Home Savings Bank
was merged with the American Sc
curity and Trust Company which
took over the banking quarters Of
that institution as well as it's sew
eral branches.
The unique distinction of operat-
ing one of the first storage ware.
houses in the country in conjunc-
ton with trust company belongs
to the American Security and Trust.
This angle of it's business develop
ed so rapidly that in 1907 it was
deemed advisable to for a new COM
pany to take over the storage ware
house end of the business and the
Security Storage Company, with
an authorized capital Of 100000
came into existence. This company
now operates one of the finest fine
proof storage warehouses in the
country.
1t is interesting to note in con-
nection with the growth and de-
Velopment of this Washington
financial institution that of the old
the company for fifteen wears or
over while others were connected
with the old Home Savings Bank.
The following are the oreSenc Of
ficers of the company: President,
Charles j. Bell; vice president,
Corcorn Thorn; vice president, Il.
f. Saul; vice president, Howard
Moran; secretary, James F. Hood
treasurer, Charles +. Howe; trust
officer, Alfred b. Leet; assistant
trust officer, David N. Houston
assistant trust officer, T. Stanley
Holland; assistant treasurer, w. w
Keck; assistant treasurer, James e.
Dulin, jr.; assistant trust Officer
Arthur G.. Nichols; assistant trust
officer, Kenneth f. Brooks; assist
ant treasurer, Fred u. Hanks; as
sistant treasurer, L. r. Swan, and
assistant treasurer, Hans w. Ire
land.