The Washington times., 1926-08-13
SAVINGS BANK
IS GROWING
BY RICHARD HATTON

Dy kNANE1tAE
The measure OF Washington
prosperity and the steadily mount
Ing volume OF the savings Of thu
citizens OF this community, a factor
which may not be overestimated II
demonstrating the future, Is exem
plified today In the large add tioI
being constructed to the Mount Yer
non Savings Bank, at the corner OF
Massachusetts Ave. and Ninth st
N, w. Likewise the space being
added TO this bank reflects the suc
cessful Energy and business achieve
ment of the officers of the institu
ton swho, are responsible for Its
growth.
In order to accommodate its in
creasing business the Mount Vernon
Savings Bank Is adding approx
rnately 2 900 square feet to its main
banking room. This extension viii
house the growing savings depart
ment and will provide three tellers
windows for this department alone,
One OF these windows will be cor
etfdcted for the especial use OF hill
dren and will have a platform be
fore It which win enable small de
p0sltors to transact their business
without difficulty.
In connection with the children
department Of this institution 1t u
OF interest to note the constructive
! effort 1t Is making and the remark
able success 1t has attained in instill-
ing lessons Of thrift and saving into
the younger generation. This Is put
another example Of the vast good
= L. Nraff ~ . q
whole through the local financial in.
stitutiens ana their whole-hearted
cooperation in the upbuilding or the
material wealth of the city.
The Mount Vernon's children's de-
partraent maintains in 10 public
schools and In all of the paroohial
schools OF the city automatic ma
chine teliers wherein school children
may make regular deposits which
are credited to their accounts at the
bank. During the past three years,
the time that these automatic tell.
ers have been in operation. youthful
depositors of the Mount Vernon saw.
:inRs Bank have saved over $4,000.
All OF this sum is now on deposit
in the Mount Vernon and 1t Is a
concrete example of the great COM
munity good that can be accom-.
plished by n savings bank with
heart and q determination, not only
to preach thrift. but to make thrift
possible.
The new addition to the bank
also viii provide space for the
Christmas Savings Fund OF the in
stitutfon which is another Of its
speclalties.s There are over $500
accounts in this fund at present
and the business connected with
this department is another reason
why larger quarters were demanded.
Another feature which viii be
housed in the new addition will be
the. Vacation Club OF the bank. Ac-
counts in this special class have
doubled in number In the last year
and the combined deposits of these
special accounts amount to nearly
100000.
The extension to the building now
being erected will give space for a
large conference room and addi-
tional quarters for bookkeepers and
clerks as well as for mechanical
bookkeeping equipment of the latest
design. The decoration will carry
out the same scheme as that in
the present main banking room
which is finished in Vermont maE-
BILE with artistic bronze fixtures
and grill work. It is expected that
the new quarters will be finished
about October /. The work is be-
ing done. by the Derby Equipment
Co.. under the personal supervision
OF its president, s. p. Spitz and the
cooperation of President William
Muehleisen and Vice President Will
liam r. Baum, OF the bank.
Executive Vice President Bertram
Chesterman, in charge OF the local
Morris Plan Bank, has just been
notified that the program commit
tee for the business session of Sew
enth Annual Convention OF the
Morris Plan Banks and companies
which viii be held at Asheville.
n. c.. October Is to 90, is in ses-
sion at the main office of the Nor.
ris Plan Company in New York.
Those present included: Howard
Z Gladding, Providence, X. L.,
chairman; Robert B. Umberger, CHI
cago; c. H. Dayton, Waterbury.
Conn.,; Walter D. Brown, PhiladeI-
phIa, who is serving as secretary
and treasurer of the general con-
yentton committee and Wallace
d. Mclean, of New York. Other
members Of the committee are:
Arthur A. Blumeyer, st. Louis, G.
r. Turnbull, Detroit. and Wilbur
#, Wright, Dallas, Tex.
c. c. Lamborn, treasurer of the
National Savings and Trust Com
pany,- il motoring to New Hamp.
aFfra where he will spend a Yaca-
ton extending to the end of the
present month. President William
ID. Hoover, of the same company
IL still on vacation at Hot Springs,
Va.
New York Cotton