Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-08
TRUST FIRM OPENS
FINE NEW OFFICE
American Security Moves
Into Handsome Quarters
in Ten-Story Annex.
BY EDWARD c. STONE.

Amid a shower OF congratulations,
flowers galore and the visits of hosts of
bankers and business men from all over
the city, the American Security g. Trust
Co. was doing business today in the To-
story annex on Fifteenth street, next
to the main Office. The handsome nsW
quarters were inspected with great in
terest by several hundred callers as
we'll as by the regular customers of the
bank
The moving of the safe deposit de-
partment, which contains some 70 tons
OF safe deposit boxes and their con-
tents, was completed at midnight last
night and the -bank opened this morn
ing as If it had been doing business in
the new surroundings for some time.
The transfer of the safe deposit de-
partment was. of course. the biggest job,
but all the other departments were also
changed without hitch.
The new banking rooms are most at
tractive and conveniently arranged. All
the banking facilities on the street floor
are ideal in arrangement, the safe de-
poSit section in the basement has been
unusually we'll planned. while the trust
department on the second floor is one
of the banks outstanding departments
for convenience and SpaciousneSs. The
directors room is on the top floor, is
most pleasing in arrangement and Of
fers n magnificent view of Washington.
The lunch room on this floor will also
become of great value to the bank
personnel as soon as it is opened.
Trust Company's Officers.
The banks present official staff in
cludes: Corcoran Thorn, president:
Howard Moran, vice president; Fred
erick P. H. Siddons, secretary; Charles
E. Howe treasurer; David N. Houston
trust officer: William l.. Beale, real es-
tate officer; j Damn Faber auditor;
Arthur H. Shilington and Robert l..
Flather, assistant secretaries; T. STAN
ley Holland, Arthur G. Nichols, J. Eliot
Moran and Earl G.. Jonscher, assistant
trust officers: William w Keck. Hands
w. Ireland, Percy C. Brady James C.
Dulin. jr.: Edward E. Swan, Richard E.
Harris, Harry P. White and Charles C.
Boswell, assistant treasurers..
The present board of directors Is
made up of Charles A. Garry, C. A.
Aspinwall Harry K. Boss, George w.
Brown, William NJ. Coates, William S.
Corby, William w. Everett. William J.
Father, jr; NJ G.. Gibbs, James NJ
Green, Gilbert II. Grcsvenor, j. Philip
Hermann, James F. Hood, Joseph
Letter, c. Percy McGlue, Edward B.
Mclean, William Montgomery, Howard
Moran, Clarence F. Norment, Newbold
Noyes, Howard S. Reside, John Saul,
James F. Shea, Corcoran Thorn, Benja-
min w. Thoron, John F. wilkins and
George A. G.. Wood.
Today's opening, while very largely
attended, was not considered an official
housewarming, as this stage will not be
reached until the old main Office has
been entirely remodeled and connected
with the new Offices. task which Will
require several months.
E. ]. Stellvagen in Hospital.
Edward j. Stellwagen. president OF
the Union Trust Co., who has been Ill
since his recent return from Maine,
where he spent the Summer at Poland
Spring House, is now under treatment
at Emergency Hospital.
Mr.. Stellwagen is one of the most
prominent bankers in the city and has
had a great deal to do with some Of the
Capitals most important enterprises.
He founded the Union Trust Co. over
80 years ago and has been the banks
only president 1t was through his
energy that the Union Trust Building
was erected and later more than
doubled in size by the construction OF
a big addition.
TIE bank president was actively con-
nected with the building of the Capital
Park Hotel and was one OF the most
important figures in the construction
of the Raleigh Hotel, being up until
recently president of the Raleigh Hotel
Corporation. After the Willard Hotel
was built, Mr.. Stellwagen and group
of his associates leased and operated
it for 20 years.
AS an officer in the Chevy Chase
Land Co.. Mr.. Stellwagen was closely
identified with the development OF that
section of Washington and nearby
Maryland. In recent years he has
given his time more exclusively to bank
ing and has seen his bank enjoy very
gratifying growth. He is former
president of the District Bankers AS
ISOLATION, has served on Inaugural
Committees and in many other ways
taken great interest in civic affairs.
His friends hope his hospital stay will
be of short duration.
Bonds Favored on Exchange.
The largest transaction on the Wash
ington Stock Exchange today was a
transfer Of $4,000 Washington Rail-
way & Electric As at 94ls.
There was a sale of 81 900 Capital
Traction SIS at 81 y and $500 Chesa-
peake & Potomac Telephone SIS Of Vtr-
ginia at 1041s.
The stock sales opened with Potomac
Electric Power per cent preferred sell
ing at 1l3. Capital Traction recorded
a small sale at "a and LanSton Mono
type appeared on the board at Sc.
Mergenthaler Linotype and Peoples
Drug Stores preferred are still being
quoted ex-dividend.
Heard in Financial District.
Sidney F. Taliaferro, trust officer of
the Riggs National Bank. is back at his
desk after his annual vacation.
Edward j. McQuade. president of the
District Bankers Association and the
Liberty National Bank. has returned
from vacation motor trip which took
him as far North as Quebec and the
White Mountains.
Lawrence A. Slaughter, vice president
of the Commercial National Bank, is
home from a short vacation passed at
Upper Saranac, N. Y.
Harold Stonier, educational director
of the American Institute of Banking,
will be the chief speaker at the dinner
of the officers and faculty of Washing
ton Chapter, at the Raleigh this eve
ming New members OF the faculty
NAV also speak briefly.
Where Does Advertising Stand To-
day" will be discussed by John Benson,
president of the American Association
of Advertising Agencies. at the conven-
ton of the Financial Advertisers Asso-
citation, next week. Several Washing
ton bankers will attend the session.
John M. Riordon. vice president Of
the Bank Of Commerce & Savings, has
returned from months vacation
passed at Oak Bluffs and Nantucket.
Mass. He reports that these popular
island resorts enjoyed an excellent Sum-
mer business
Washington Clearing House figures
for today: $3,026,92456