Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-09-06
TRUST FIRM MOVES
INTO NEW OFFICES
AS BUSINESS GAINS
New Ten-Story Addition of
American Security Is Hand
some Building.
VARIOUS DEPARTMENTS
ARE FINELY EQUIPPED
Occupancy of New Quarters Marks
Fourth Movement for Ex-
pansion of Firm.
BY EDWARD c. STONE.

Transfer OF all departments of the
American Security 81 Tru7t Co. from
the main Office, at Fifteenth street and
Pennsylvania avenue northwest into
the banks new l0-story addition was
completed Yesterday, according to an
nouncement by the president, Corcoran
Thorn. and The bank will open for
business Tuesday in the handsome new
quarters in the American Security
The old banking house, which for the
past 26 years has served as the COM
pany'S main Office. is being remodeled
and upon completion of the alterations
will be connected and used jointly with
the present addition as the main office
The company in its regular banking
and trust business will occupy the first,
second, third and portion OF the
fourth and the tenth floors, as we'll as
the easements, while the remaining
floors of the 10-story structure have
been designated as rentable area.
Quarters Greatly Expanded.
These new and enlarged quarters
were designed and arranged to meet the
requirements OF the various depart
ments. Modern equipment has been in
stalled throughout the bank, so that
the work of each department and the
transacting OF interdepartmental bust
ness will be facilitated.
The safe deposit department. located
on the downstairs floor of the new
building. is one of the largest and most
modernlv equipped in the city. It's huge
vaults represent the latest developments
in protection of this kind, and its large
number of conveniently arranged cou-
pom rooms assures complete comfort
and privacy to customers.
On the first floor is located the
banking department. which includes the
paying. receiving and note tellerS. These
departments however, at the time OF
completion of the work en- the old build
ing Will be relocated in the first floor
rooms of the united buildings. The Sc
curities and foreign exchange depart
ments have also been established en- this
floor.
Fine Trust Accommodations.
The entire second floor has been given
owe. to the trust department. The ar
rangements, equipment and furnish
ings make this department one CT the
most attractive in the building.
Several operating departments OF the
company are located on the third floor.
Among these are the bookkeeping, per-
scnnel, purchasing, credit and the de-
partment of public relations. The au-
diting department has been established
on Cne IOuTCn IlOOT.
The directors room, staff dining
rooms and kitchens occupy the entire
tenth floor of the building. From this
point can be had an excellent view OF
the citys skyline and the Potomac.
Bank Organized in 1889.
The occupancy of new quarters in the
building marks the fourth distinct
movement by the trust company toward
expansion. Organized in 1882 the COM
pany was temporarily located at 14l9
G street northwest. until 1891, when 1t
was removed to 1405 G street. In 1905
the company was transferred to the
handsome new bank building at Fiji
tenth street and Pennsylvania avenue.
where it remained until the present
transfer.
Through a merger with the Home
Savings Bank in 1919 the trust COM
pany acquired additional banking Off
ces. It now has five Offices, located In
the various sections Of the city. 1t has
capital and surplus funds totaling So
300, 900, and its resources, according
to the latest published statement,
amounted to sal sol ,65038.
Heard In Financial District.
Eliot H. Thomson of the Washington
Loan & Trust Co. started on his annual
vacation yesterday. While away he will
attend the annual convention of the
Financial Advertisers Association in
Boston.
Bank clearings in Washington for the
week just ended totaled $20,382, 900,
against $17,977.O00 week ago. an in
crease of 10 per cent.
Tickers in the local broker Offices
were silent today and will be again on
Monday Labor day. The Washington
Exchange and the banks will also be
closed Monday.
McCrory Stores Corporation today re-
ported decrease in sales in August Of
ST per cent, but only 05 per cent for
the, first eight months of 1881. Both
Woo1worth and Kresge also reported
slight August declines.
Washington clearing house figures
for Saturday: .$39l6,974.75.