The Washington times., 1925-02-27
SAVINGS B A N K
SHOWS RAPID
GROWTH
Mt. Vernon Bank, Organized
in 1920, Now Has $780,
(Oe0 on Deposit
Rv RICHARD HATTON.

BY RlCHAtD dAIION.
9Th largest youngest bank in
the District of Columbia" il the
way William r. Baum, vice presi-
dent and cashier of the Mount Yer
non Savings Bank, at the corner of
Massachusetts avenue and Ninth
street northwest, designates his in
stitution. According to the an
nounced policy of it's officers, this
bank strives to make good it's slo-
gan by the largeness of it's interest
in it's depositors and customers and
the greatness of it's financial vision.
For every dollar we pay out for
advertising we spend twenty dollars
to back it up" declared Mr.. Baum
today. "Our earnest desire is to
make this bank mean more to our
depositors than merely a safe place
to deposit their money We want
to know our depositors intimately
and to have them think of their
friends"
Christmas Savings Large.
The Mount Vernon Savings Bank
was organized in May, 1920, and,
according to it's officers, it has
more members in it's Christmas
Savings Club than any bank south
of New York city. The hank has
especially catered to it's many de-
positors through its numerous saw
ings accounts, paying especial at
tention to insured savings Christ
mas savings and vacation savings.
A novel and interesting feature of
the saving department is that near
ly 1000 school children now have
savings accounts with the institu.
N he y
has had communications from nu-
merous school principals and other
educators commencing this fea-
ture of its service. At the present
time the bank is carrying school
children deposits from eighteen pub
lie schools, and has arranged to
take over savings accounts in al:
parochial schools in the city.
Vice President Baum, in speak
ing of the insured savings system
carried out Ey the bank, declared
that this was something new in
Washington, only a few banks hav-
ing it, and that the idea was fast
becoming popular, the Mount Yer
non Savings Bank at present carry
ing over 1900 OF these accounts,
representing a total of about ST.
100000 in insurance.
The present handsome quarters
of the Mount Vernon Savings Bank
were occupied by the institution in
1920, and afford every facility for
carrying on the increasing business
Of the institution. The building is
a handsome addition to the financial
structures of the city, and its in
terror finish and decorations carry
out the latest architectural designs
in modern banking buildings. The
main banking room is large, airy,
and well lighted, and the desks AMI
fixtures are Of the latest designs
in banking fixtures. The safe de.
post department is convenient, and
safety appliance and comfort fer
those who use its facilities.
Deposits Gain.
Upon entering the Mount Vernon
Savings Bank one Immediately
senses that the institution is very
much alive. This feeling is inten-
sified by talk with Vice President
Baum, who, although a busy man,
finds time to tell with enthusiasm
Of the achievements and the plans
of his institution and to give in.
terested attention TO the problems
Of those who come to him for add
vice and assisl nee upon banking
matters. The spirit of service at
the Mount Vernon Savings Bank is
as noticeable as 8 the vitality of
its daily business.
The published statements of the
Mount Vernon Savings Bank show
that upon the day the institution
opened, May Is. 1920, it's deposits
amounted to 1878, 1886, and that
on December 81, 1924, it's deposits
amounted to $2,901 ,C80.93, a record
of which the officials are just proud,
and one which gives added force to
the slogan, "the largest, youngest
bank in the District Of Columbia :"
The officers and directors of the
Mt. Vernon Savings Bank are as
follows: r. Golden Donaldson,
chairman of the board; William
Muehleisen, president; William H.
Johnson, vice president e. c.
Dawson, vice president; William Il.
Baum, vice president and cashier
Robert T. Highfield, assistant
cashier, and Hayden Johnson,
counsel. Directors. James a.
Baden, William r. Baum, Albert
J. Berries, G. M. Bugniazet, E. G.
Dawson, r. Golden Donaldson,
Charles P. Ford; Harry w. Hahn,
Samuel j. Henry. Fred Hewitt,
Hayden Johnson, Doctor f. F.
Koss, Henry G.. Moses. William
Muehleisen, H. Glenn Phelps b.
L. Rinehart. Captain w. H. Stay.
ton, A. E. Ungerer, H. S Wal
colt, and o. B. Zantzinger.