The Washington times., 1925-05-16
F|NANC|ER SEES
BIG GROWTH
HERE.
Peter A. Druryr President of
Merchants Bank and Trust
Co.,. Makes Prediction
By RICHARD HATTON.

ud1- IIlG HSAI ICIl JO0A WIZ WI
ness the greatest development that
Washington and the District Of
Columbia, have ever known is the
opinion expressed today by Peter
A. Drury, president of the Mer-
chants Bank and Trust Company
FeM residents of the city are in
better position than is President
Drury to judge the probable lines
of expansion here from the stand
point of an intimate knowledge of
the past as well as from that of
a conservative worker whose influ-
ence has assisted in the growth OF
the city to it's present position and
is continually being exerted in the
best interests of the community.
Turning back to the Washington
of a quarter of a=century ago Mr..
Drury pointed out the tremendous
strides that have been made since
that time in practically every e1e-
ment entering into city growth.
twenty-five years ago." he said,
there were not many, even of the
most enthusiastic, who could vision
the great Government undertakings
of today or the rapid spread Of the
residential sections of the city in
every direction Naturally, an in
creasing population has brought ill
creased business opportunities and
there is no one factor in the bust
/, mess life of the city which testifies
i to the commercial expansion that
has taken place here more strongly
than does the increase in number
and the solid condition of the
ctty's financial institutions
Bank Needs Good Conditions.
"A bank is as much dependent
upon good business conditions in
the community as is any oth-r
commercial institution and. while
the bank must foster business by
well-considered backing of enter
prise, 1t cannot junction to full
advantage. nor increase its own
prestige and success in a commu-
nifty that is stagnating. From the
standpoint of banking service
Washington already has indicated
that it is equipped to meet what
ever demands may be made for
proper financing of business and
home expansion in the future. -
With a solid financial founda-
ton, with the increasing activities
OF the Federal Government, which,
In the very nature of rational de-
velopment, must continue TO ex-
pand with new bureaus and depart
ments, with the newer interest
being taken in the National Capital
as he~foca1 point fof-all great
business undertakings and, espe-
c1ally, with the present interest in
this city as the logical and proper
place for the headquarters of the
great religious organizations and
the location of exceptional educa-
tional institutions the city Is now
in a position to move onward along
Il 1f Ill .a1
capitals which, through political,
educational, religious and artistic
dominance. have become the chief
cities Of their several nations.
Manufactures Not Needed
"There have been times when
some have deplored the absence Of
great industrial plants here, y con-
tinued Mr.. Drury. Undoubtedly,
such plants have been the means
OF creating vast cities in other To-,
calities and without their indus
tries, there are many cities which
would drop into second or third
class positions. Nevertheless, while
industry is one of the most i'm
portant elements in our national
life. it is not necessary that Wash
ington become dependent upon the
mill or the factory any more than
1t is dependent upon agriculture,
for its prosperity.
"It is only necessary to point
sout that the greatest industrial
cities of Europe are not the po-
litical capitals of Europe to indi-
cate that Washington will grow to
meet its future regardless of The
placing here, or in territory con
tiguous to the city, of great manu-
featuring plants.
"Since the earliest times of his
tory peoples have had their ma
tfonal shrines to which they have
made pilgrimages. This country
now is awakening to the fact that
its national shrine is the capital
city Of the nation and there are
few Americans, today, who have
not an interest. real and personal
interest, of some kind, in Wash
ington. The city has become of
such great world Importance that
II figures more and more in the
daily news of the whole country
and an interest in what takes place
here creates an interest in the
city which may be counted upon to
bring increasing thousands to view
the ismonuments to American pro-
sress and American heroism which
have been erected by the United
Sfates for the United States. The
annual influx of these tourists and
the consideration given them here
must be one of the greatest ad-
vertising mediums that it is pos
sfble for any city to have"
Growth of City Rapid.
''It does not seem so long ago."
said Mr.. Drury, "since the Con
necticut avenue car line stopped at
Florida avenue, then the old boun-
Diary, and there was very little in
Georgetown beyond Wisconsin
avenue, except the old downtown
section along the river. Today
there is. almost as much of Wash
ington beyond the boundary as
there is below it and Georgetown
Is reaching we'll out toward the
Maryland line. In other directions
the city is pushing farther and
farther out into what was once q
farming country and now is com
posed of rapidly developing sub