The Washington times., 1925-05-14
NEW BANK SOON
WILL OPEN
HERE
Central Savings, Cooperative
Enterprise, First of Kind
In Washington
By RICHARD HATTON.

Washington banking institutions
will be increased ny enc when the
Central Savings Bank opens It's
doors for business tomorrow. The
new bank is located at 40 Four
teenth street northwest, in the
heart of the business.financial dis
trict and the handsome interior
fittings and welI-arranged banking
offices will provide every facility for
conveniently transacting the bust
ness of the institution.
Francis M. Savage Is the organ
izer and president of the new bank
w. Morris. vice president; Doctor
Gregg c. Birdsall. treasurer: Frank
lin F. Kidd, vice president and cash
Ter, and Dion S. Birney, attorney.
The directors are Francis M. Saw
age, Charles w. Morris, Doctor
Gregg C. Birdsall. b. H. Gruver,
Dion S. Birney, Jesse NJ Hedges,
Judge Milton Strassburger, George
Fl. Mcdonald, Doctor Garden F.
Warner and Franklin F. Kidd.
Experience is Wide.
President Savage began his
banking career in a small Ken
lucky town as a teller. He organ
lied a number of successful bank
ing institutions and devoted num-
ber of years to the social bett4r.
ment of the steel workers. He is
a humanitarian and he evidently
takes as much pride in his success
In aiding humanity as he does In
the fact that he was one of the
pioneer builders of the present
great steel town of Gary and is,
today. a successful efinancier. He
has travelled extensively in Eu-
rope, Africa, Asia. South America.
Australia and New Zealand. and
rs made a careful and exhaustive
.-t,Jdy of the banking systems in
+base lands in addition to his wide
hanI.lng experience here.
NJ. Savage carries his humanity
a., his daily business and his
theory of banking. according to
s+ttement made by him today, is
ito loan money to anyone in his
Sity who is entitled to it. within
safe and sound banking principles,
and to assist in building the COM
munity by every legitimate means.
President Savage said he believes
in keeping his bank clean by hav-
ing more assets than are shown
by the published statement.
Conservative, But Progressive.
In an interview today Mr.. Savage
made it plain that he is, by habit.
conservative but progressive, and
in the organization of the Central
Savings Bank he says he has en-
tered the field of Eanking as a
pioneer by sharing the profits with
the depositors and again showing
an interest in tho wage earners.
He is calling the new institution
1.-The savers bank and the home
builders bank
President Savage stated today that
he is reserving the first twenty-five
numbers for boys who will become
depositors, and he has invited the
Croka Club. on Columbia road, with
which he is closely identified, to
be his guests on the occasion of the
opening of the bank.
The main banking room of the
new Central Savings Bank has been
handsomely fitted with marble
counters. and is lighted by rows of
suspended globes of artistic design.
IN addition to the usual banking
features, the institution will main
tain a savings department, safe de-
posit department, and will carry on
an insurance business as wall as
act as agent Cor several steamship
lines. The capital ard surplus of
the new bank. as stated today, IS
$3.50 Gon