The Washington times., 1925-03-23
SERVICE IS AIM
OF MECHANICS
BANK
Southeast Institution Has Set
Out to Aid Civic Progress
as Adjunct to Finance
By RICHARD HATTON.


Founded upon ideals of service,
and Carrying those ideals through
its years Of successful business de-
velopment, the Washington Me.
chanics' Savings Bank has had g
career of expanding business and
community usefulness which Is
monument to the efforts or It's
founder and president, Ezra Gould,
and to the support and cooperation
Of the officials and directors OF the
institution and the confidence
which the public has reposed In
them.
The Washington Mechanics Saw
ings Bank was organized in 1905
and today maintains banking Of
fees at three locations in Wash.
ington. The main office is at the
corner of Eighth and G streets
southeast in a handsome banking
building which has recently been
rennodeled and enlarged to meet the
expanding business requirements OF
the institution. The bank has
handsome branch office at S608
Georgia avenue and another at the
corner OF Ninth and East Capitol
streets.
Handling of AlIOtments.
A unique feature Of the business
Of this institution Is the large NUM-
Der OF allotments it handles for
men in the army, navy. and marine
corps. In this service 1t provides
q distinct help to the families OF
those who are serving the country
overseas. Its activities reach into
the four quarters OF the globe,
wherever the military or naval CTi-
form of the United States goes.
1t is the expressed desire Of the
president and officials Of the Wash
ington Mechanics Savings Bank TO
serve their patrons in every posi-
bic way, and in each community in
which the institution maintains an
office it lends its influence to every
movement for the upbuilding OF
that section. In its long years of
experience, the Washington Me.
chanics' Savings Bank has rendered
distinguished service to the several
sections OF the city.
The branches Of the Washington
Mechanics Savings Bank were
taken over from the Peoples Saw.
ings and Commercial Bank In 1924.
Each office is managed as an indi-
vidual unit. and has every banking
facility for serving the community,
including safety deposit department
and Christmas savings club.
The bank has made over $50, 000,-
900 in loans since its foundation and
out OF this tremendous sum has not
lost $1,000. This is considered re-
Inarkable banking record. The bank
operated for some fourteen years
without registering a single penny
of loss. President Gould encourages
saving and thrift on the part OF the
customers of the bank and takes a
keen personal interest in their Gnan-
cial. welfare. The advice and as
sistance OF the hank has been OF
value to many who have prospered
through following course laid out
along constructive saving lines.
Officers and Directors.
The officers Of the Washington
Mechanics Savings Bank besides
President Ezra Gould are r. II.
Bagby, vice president and cashier;
Z. P. Williams, secretary and treas.
urer; A. s. Offutt, assistant cashier;
Z. ]. Groom, assistant cashier; r. III.
Hill. assistant cashier; Laura z.
Miller, assistant cashier, and Maude
w. Buckingham, assistant secretary.
The directors are Ezra Gould, r. H.
Bagby, r. p. Williams, MahIon
Groo, George Hayes. L. Hoyt Lamb.
Jesse 3. K. Lee, Edward r. Pick.
ford. G.. B. Pitts, J. Chester Pyles,
Z. Hume Talbert, John p. F. White
and e. s. Wolfe. President Gould
has been connected with several
ther leading banking institutions
an executive capacity. He is
resident of the National Capital
ortgage Company, treasurer of
he Racquet Club and a director in
The Wardman Mortgage and Dis
count Corporation.
The deposits of this bank on t. e
day 1t opened were approximately
sf,474. Today they amount to ap.
proximately a million and a half
dollars. The bank has a surplus IF
$4,000 and undivided profits of
$4,000 and pays a 16 per cent divi
dend upon its stock. while constantly
increasing it's surplus.
Since taking over the two branches
which it now operates the bank has
equipped them with every modern
banking facility and il has recently
rer1odeled its main office making IL
one of the most attractive banking
rooms in the city. A new, burgla r
proof steel door, twelve inchec thick.
will be installed in the main officl
which will also be equipped with a
new steel vault Of the most modern
construction. The growth and ex
pansion Of the banks business has
been steady and gradual. Its two
branches have gained by 500, Goo
in deposits since coming under the
direction of the parent institution
The officers of the Washington
Mechanics, SAVINGS Bank haIIava in