Evening star., 1926-04-04
BY EDWARD C. STONE.

BY EDWARD L. STONE.
Announcement a few days ago that
the Washington Loan and Trust Co.
plans the erection of a fine new build
ing on the three properties adjoining
its present home at Ninth and +
streets has drawn attention to the
rapid bank expansion now going on
all over the city. Within the c1Jn-
paratively recent past such striking
Capitals skyline, so far as bank
buildings are concerned, has been en-
tirely changed.
The Federal l-American National
Bank has been in it's handsome new
quarters but a very short time. Open.
ing of the Riggs National Banks eX,
pensive annex was another important
even In local banking circles not so
very long ago. Shortly before the
Riggs Bank annex was started the
National Bank of Washington built
a large and attractive addition to its
headquarters and about that time the
National Savings and Trust Co. com
pleted extensive additions and altera-
tiOns.
Likewise the Commercial National
Banks commodious and attractive
home Is still rated as comparatively
fruit stand was located on the site
where the Farmers and Mechanics
National Bank now occupies its own
building at Wisconsin avenue md NJ
street. Georgetown. The Liberty Ma
tional Bank building is still one of the
newer financial structures in the city
while in another part of town the
residents were happy TO see the
rise and dedication of the Ran,S of
the same situation apply
ing to the Bank Of Brightwood.
In short, there is hardly'a bank in
the National Capital that has not in
very recent years either expanded.
built branches, or at least carried out
very extensive improvement In order
better to take care of the steady and
substantial growth of the banking
business in Washington. Even the
Government caught the spirit of the
times and the handsome Treasury an
mex was the pleasing result.
Arms Of New Research Bureau.
Harold G.. Moulton, director of the
Institute Of Economics, at 26 Jackson
place, when asked about the chief
aims Of the new Bureau of Savings
Research just organized in New York,
with which organization he is con-
nected as a member of the advisory
council, stated that there are two
specific projects now under investga-
ton. The first is the assembling of
figures from mutual savings banks
giving the activity OF their deposit ac-
counts on a monthly basis for the last
20 years. While the total of savings
deposits seems TO rise with but little
interruption. the activity of accounts
themselves appears to show consid-
erable variation in response to
changes in business conditions. 1t is
hoped that aside from the purely
scientific interest which such an
analysis might have, IL might also
be Of value to bankers in connection
with the development of new busi-
ness along savings lines.
The second subject which is TO be
taken up at present relates TO the
installment business. 1t is hoped that
some information may be obtained
from finance companies which would
show how sensitive their installment
credit and installment collections
have been during recent years 1t
may be possible to segregate this IN
formation as between automobile ana
general installment business, and also
by sections of the country.
It is also planned to make a sur
vey in the near future of the state
laws relating to time and savings de-
posits in various classes Of institu-
tions. In this connection the bureau
Is working rather closely with the
American Institute of Banking and
the American Bankers Association,
with the ultimate thought of pre-
pairing under more or less joint aus
pices or cooperation volume deal.
ing with the savings bank and saw
ings development in it's practical and
operating phases.
Head Bank for 100 Years.
One hundred years ago Charles
Perry, then l6 years old, became
president of the Washington Trust
Co, Westerly, r. l. He served in
this office for 55 years, and when
he left it the work was taken up by
his son. Charles Perry, jr., who has
served for 45 years in that position.
So. for 100 years father and son have
been president of the bank-a record
that is believed to be unique in Amer
lean banking.
While there is no banking concern
In washington that has any such
record as this, yet there is one firm
the McLachlen Banking Corporation
that has had a father or son as its
president ever since 1t was founded.
This bank was established 35 years
ago by the late Archibald NJ. McLach-
len, who began his business career in
the real estate field, but soon saw the
need of a downtown bank which
should serve the small depositor as
well as the large one.
Since his death some years later his
son, Lanier p. McLachlen, has been
president of the corporation.
Bankers Boom National Park.
Washington bankers are getting
behind the Shenandoah National Park
project and pushing it vigorously. The