The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1926-05-15
BANK IS PROUD
lE RECORD
nv RICHARD HATTON

achievement is the Mount Vernon
Savings Bank, which is today cele'
brating its sixth anniversary as
leading Washington financial insti'
tuition. Not alone by the measure
OF its success as a progressive bust
ness organization must the bank De
Judged, remarkable as this success
has been.
Its tremendous service to the com
munity and to its thousands OF
patrons gives added weight to the
career of a reorganization conceived
in the spirit of service, constructed
upon a solid foundation of the high
est ethical banking practice and de-
veloped under the direction OF mel
well qualified through experience
and by reason of their high ideals
to render Co the public the maximum
Of savings bank convenience consist
emit with the safety, of conservative
direction
Deposits Pyramided
Possibly no better or more con-
else statmeent concerning the
growth of the Mount Vernon Saw
ings Bank could be formulated
than that indicated by the ex-
banding pyramid of its deposits
from the opening day, May 10,
1920, to the present moment. The
statement is the most conclusive
evidence of the confidence the
public has exhibited in the institu-
ton, the wisdom of its direction
and the place which the Mount
Vernon occupies today in the bank
ing world Of Washington. On May
Is, 1920, the deposits in the Mount
Vernon Savings Bank were $685.
1896 One year later the amount
was $1,519, 200.36, while in 1922,
two years after the opening day,
the deposits mounted to $2,079.-
564.5O. In another year the pyra-
mid had broadened to $2,35S, 40S.96
and IL months later the figures
showed s., 724, 976.3S. By May, 1925.
this amount had jumped TO $S,2S7,-
397 .09. and on May 10 OF the pres
ent year, or practically six years
after the doors of the bank were
first opened, the deposits amounted
TO the very considerable figure OF
1885,, 605.17. The increase in the
six years bing shown as $S,577,-
622.s1.
Few institutions anywhere can
point to a finer record and the
officers and directors of the Mt.
Vernon Savings Bank are, today,
receiving the well-desarved con-
gratuIations OF the institution s
many friends and patrons as well
as OF the banking community Of
the city in general.
The Mt. Vernon Savings Bank
occupies one Of the handsomest
banking buildings in the city, To-.
Gated at the corner of Massachu-
sets Avenue and Ninth Street
room and auxiliary quarters are
complete in every detail. However,
so rapid has been the growth OF the
institution that additional space
has been found necessary IN order
TO carry on the daily business. This
problem win be met in the near
future by an extensive enlarge
ment of quarters through the ac-
curing OF additional property To-
Gated Immediately next to the pres
ent building on Ninth Street.
Increased Facilities
The new section which will be
added to the banks premises COM
prises 1000 square feet of space,
and plans already have been pre-
pared for the ALLEGATION of this
added footage in such a way as
to provide greatly increased ia
cilities, not only for the officers
and employees of the bank but for
the customers and clients as well
The new section will be largely de-
voted to the savings department Of
the institution with a new layout
or offices for the principal officers
OF the bank and new cages TOR
tellers. Increased safe deposit ia
cilities also will be provided and
the main banking room will be in.
creased considerably in size while
carrying out the present general
plan of arrangement and decora-
ton.
Among other notable achieve
ments of the Mount Vernon Saw
ings Bank of which the officers
are proud is the fact that it car
RES the largest number of Christ
mas savings accounts of any
similar institution in the city and
that in addition to it's Christmas
savings accounts, vacation savings
accounts and other special feature
deposits it carries $4,000 regular
savings accounts.
X. Golden Donaldson. one of the
ATTEST and best known bankers in
washington, is chairman of the
BOARD OF the Mt. Vernon Savings
Bank; William Muehleisen is presi.
dent and William r. Baum is vice
president and cashier. Other of
ucers and directors, are. William II .
Johnston, vice president; f. G..
Dawson, vice president; Robert T.
Highland, Frank w. Lee and T. Ed
win Norris assistant "a shiers and
Hayden Johnson, counsel Board of
directors: James H. Baden, William
X. Baum, Albert j. Berries, G.. M.
Bugniazet. e. c. Dawson, r. Golden
Donaldson, Charles p. Ford, Harry
w. Hahn, Samuel J. Henry, Fred
Hewitt, Hayden Johnson, William
III. Johnston. DIR. E. F. Koss, Henry
G. Moses, William MuehIeisen, Il.
Glenn Phelps, B. L. Rinehart, II. S.
Walcott and o. B. Zantzinger.