The Washington times., 1926-07-03
HISTORIC BANK
CITES RECORD
By RICHARD HATTON

July 4 is, properly, day, of
patriotism. A great deal will be
said in many places in praise of
those who have served their coun-
| try. Possibly few speakers will re-
call the fact that in great national
crises the banks of the United States
have served, AID served well. FL
nance is uncompromisingly bound
up with government.
In Washington especially have the
banks stood shoulder to shoulder
with the Federal Government in
times Of stress, and it is peculiarly
fitting that just at this time of
patriotic holiday one OF the oldest
banks in the District Of Columbia
should issue pamphlet containing
bit Of its personal history wherein
are several incidents of general his
toric interest. The National Metro
politan Bank, of which George w.
White is president, covers its career
from 1914 to 1925 as follows:
Born on January IL, 1914, In the
trying times OF international strife,
the bank OF the metropolis began
its career at the northeast corner
of Fifteenth and f Streets North
west, purchased for $4,000, payable
in stock of the bank.
Through Five Wars
AFTER passing safely through five
wars. seven serious financial panics,
and four interpretations: watched
and cared for by men Of character
and ability, 1t stands today in the
forefront Of the financial institu-
tions of the District of Columbia,
and of all the District banks which
H.. 81 \, L.
one of only three which have sur
vived to the present time.
''In July, 1886, the bank was re-
present site; which remained its
home until 1907, when the present
handsome white marble structure
was builE
On March "a, 1865, the bank was
chartered as "The National Metro
politan Bank OF Washington, and
has the distinction Of being The
Oldest National Bank In the Dis
trict of Columbia
From the original minutes now
in possession Of the bank, we find
the following interesting extract:
Checked By Enemy
wednesday, Aug. "a. 1S14.-No
board on account OF the eneny's
approach to the city, and the en-
gagement at BIadensburg"
'.At D. m. the cashier removed
all the banks effects for safety,
and on the 18th deposited the
specie and notes in the bank at
Monday, Sept. 5, 1s14.-The
cashier returned and opened the
bank for business.
March Is, 1815.-Mrs. Sweeney
was allowed 500 for having been
instrumental in preventing the bank
being burned by the enemy in
August last"
"A number Of patriotic loans
were made by the bank to the Gov
eminent, and some OF these loans
were secured by stock OF the Chas-
apeake and Ohio Canal Co. which
was considered a very important
route for opening up the western
country
..As early as 1915, the bank paid
a dividend Of s per cent for ~
months.
The present rate is 10 per cent
per annun, with 2 per cent extra
per annIm.
''Gen. John Peter Van Ness, who
held a commission as Inajor gem
eral from the Governor of New
York, was elected the first presi-
dent of the bank at an annual
salary of $500, but owing to the
thigh cost of living" the presi-
dents salary has been considerably
augmented since that time.
'sThe line OF presidents shows
General Van Ness, 1914; John w.
Maury. 1916; Thomas Carberry.
1855; George Lowry, 1863; John b.
Blake. 1865; John w. Thompson,
1874; e. Southland Parker, 1897, and
George Whitney White. 1903.