Evening star., 1926-10-10
FARMERS AND MECHANICS BANK
is IN SECOND CENTURY OF LIFE
Now One of LiveIiest Institu-
tions in CapitaEFound.
ed in 1914.
Has Weathered Panics, Pc.
liticaI UpheavaIs and A.
ways Kept Doors Open.
BY I. A. FLEMING.

BY j. A. FLEMlNG.
There is another bank in Washing
ton today that is sufficiently aged to
entitle it to be mentioned among the
antiques in its line, even though 1t is
| one of the liveliest and most success.
full institutions in the financial line
in the National Capital.
Reference is made to the Farmers
and Mechanics National Bank Of
Georgetown, organized February IA,
| 1914, eight years before the publica-
| ton of the first city directory of
| Washington. reviewed In these col
ums a fortnight ago. At the time 1t
was issued Georgetown was an en-
tirely separate city from Washington
and the director:-. properly or other
WISE neglected 1t entirely.
| But the bank people suggest that
the memory of the third more-than-
a-century- bank now in the city
should be kept green, as it played an
| important part in those old days and
its record has been continuous right
down to the present moment and
| flawless.
Some Bank Story.
Search of the earliest archives of
| the bank develop the fact that on the
| 14th of February. 1914, then as now
| ST. Valentines day, a company or
limited partnership in existence with
the name 1.-THE President and Direct
ors of the Farmers and Mechanics
Bank of Georgetown" was transact
| ing a general banking business in
| that town.
On the day and date mentioned
William Marbury, Thomas Turner,
John Lee, James Melvin, Romulus
| Riggs. Leonard H. Johns, George c.
| Washington, Thomas B. Beal,
| Thomas Robertson. jr., and Charles
w. Goldsborough were present as d.
| rectors. Some of these names have
| been carried down in honor through
| the same blood.
These gentlemen then decided to
| form u bank and a committee headeo
bv the president was named to peti-
| ton Congress for an act OF lncorpora'
| ton and a charter Ito be obtained on
| terms compatible with the interests
of the institution" At the same time
a committee was named TO OBTAIN a
site for bank building.
A month later, the proposal of John
Peter to sell his house at the present
corner of M and Thirty-first streets
for $4,000, payable in eight months,
was accepted.
William Marbury, president. was to
receive $500 a year salary and Glenn
ent Smith, cashier, $1,000. The teller
| received 5000; bookkeeper, $500; dis.
count teller, $500; runner, $3.50, and
porter, $3.50 a year.
Charter Dated March, 1917.
1t was not until March, 1917. that a
charter was given the bank, the capt.
tai being 100000, large for those
days.
It is recorded in 1914, that the bank
! took 1000 "of the last Government
loan" In applying for a renewal of
charter in March, 1886, following two
expirations, the board of directors
called the attention of Congress to
the numerous loans made to the Gov
ernment varying up to 100000 dur
ing the War of 1912, in the years
1814.15.
James Monroe, when Secretary of
State and Acting Secretary Of War,
he more than once called on the
Farmers and Mechanics for assist
ance, sums various in amounts up to
| $500, 900 being advanced by the insti-
tuition. Vouchers certifying to these
accommodations are still In the ar
chives of the bank, worn and antique
| as they are.
In 1875 the bank was reorganized
under the national bank act and be-
came a national bank. It Is now 108
wears and nearly eight months old
and during this long period its doors
| have always been open in banking
hours. all checks, drafts, ETC., prop.
erly drawn and backed, have been
honored promptly. while the bank has
| had but two locations. The bank
has had nine presidents from William
Marbury to Harry v. Haynes.
Henry M. Sweeney, who served 81
years from September, 1865, to Febru-
ary %, 1918, when he passed on, held
the presidents Office for the longest
term; S. Thomas Brown oficiated
from 1896 to 1918, and William King
an active and energetic banker be-
came president. Many Washington
ians remember Messrs. Sweeny and
Brown, while William King is today
a successful coal merchant in the old
town-GeorgetOwn.
The counterfeit presentment of the
first president is presented with this
article, the present executive is too
we'll known to be even introduced,
he having grown up with the Riggs
National and being prominent in the
all organization work connected with
local banks and banking.
Some Fine Record.
To weather the numerous panics,
wars and business troubles that have
attended the growth of Washington
and this country from swaddling
clothes to full-fedged maturity, wild
cat currency periods and the thou
sands of periodical depressions at
tendant on the times of war, re-
construction and political upheavals,
is a record that may well be en-
blazoned in letters of gold. 1t is a
great legacy to be kept untarnished.
There is as much difference in Mr.
Marbury, the first president, and the
present executive, in personal appear
ance as can be imagined, and yet they
both showed a tendency to stoutness.
When Mr.. Haynes reached the same
age as was Mr.. Marbury. when he
had this picture taken. the dissimi-
larity may be largely removed
Several Banks of Issue.
There were several so-called banks
of issue" in Georgetown functioning
in the early days of the Farmers and
Mechanics. helping to flood the coun-
try with wildcat currency, which was