Evening star., 1932-05-08
NEW MAIN BANKING
QUARTERS FINISHED
BY TRUST COMP ANY
American Security to Greet
Public in Much Larger Of
fiCes Tomorrow.
ORIGINAL BANK LOBBY
COMPLETELY CHANGED
Recent Trend in Clearings Held
More Favorable-Comparisons
/ Made in Lanston's Earnings.
BY EDWARD C. STONE.

When the doors of the American Sc
curity & Trust Co. are thrown open for
business tomorrow, one of the most at
tractive banks in Washington, or any
other city in the East, will be ready for
public inspection. After many months
work, the original bank building, which
for more than 25 years housed the main
office departments has been completely
remodeled and connected with the
banking facilities in the adjoining
American Security Building.
President Corcoran Thorn and his Of
ficial staff moved into their permanent
Office yesterday and the greatly en-
larged quarters are now ready for i'm
mediate use. In what was formerly the
main bank modern equipment has been
installed throughout the building to
provide adequate banking and trust ia
cilities. In the main banking room, to
the left of the Fifteenth street entrance,
Is located the ladies' department. Here
special desks, large, comfortable chairs
and rest rooms have been provided for
the convenience of the women custom
ers.
To the right of the entrance will be
found the executive quarters and on the
opposite side of the room have been in
stalled the tellers' windows for paying,
receiving, notes and collections.
The skylight of the old building has
been removed and in its place there now
appears the brightly colored Pompeian
ceiling. Near the top of the richly pam
eled walls is a border, on which may
be seen the following inscription: Fl
nance nurtures the soil and the mill 1t
supports commerce, which serves the
world by land and sea and air It is
built upon confidence in integrity. 1t
consolidates societies of cities, of States
and of the nations"
Many Offices in New Building.
In addition to this remodeled build
ing, the main Office of the company
now occupies several floors in the new
American Security Building. The first
floor is united with the main banking
room, making one large and continue
Gus lobby. On this floor are the foreign
exchange, securities and real estate de-
partments.
The safe deposit department has
been established on the downstairs floor,
where it is easily accessible from the
main banking room by both elevators
ana stairs. More than 80 coupon rooms
have been provided for the convenience
and privacy of customers of this de-
partment.
Here have been installed the massive
two-story vaults of concrete and steel,
with 18-inch steel doors, representing
the latest developments in scientific
research. These vaults offer the utmost
in safety and protection, as they rank
among the strongest in the country.
The trust department occupies the
Of y hi haffl fY1r
Spacious sections have been arranged
and equipped for conference rooms. Of
flcers' desks and the accounting division
Of this department.
Company Organized in 1889.
On the third floor are located the
department of public relations, the per-
sonnel department, the purchasing de-
partment, bookkeeping department and
the mail and addressograph rooms.
The auditing department and the
library are on the fourth floor
Up-to-date banking equipment that
has been installed under the super
vision of the architects and engineers
facilitates the conduct of business be-
tween departments, as well as between
each department and customers. The
pneumatic tic-tube system for the convey
ance of papers is an example OF such
features. The temperature-contr ma
chinery of this building also means
comfort for customers while transact
ing their business.
The American Security e. Trust Co.
was organized in 1889, and since that
time has enjoyed an enviable record OF
growth. Today the company conducts
four branch offices. The capital, sur
plus and undivided profits of the trust
m than G7 E00
900. while total resources are in excess
Of $40,000,000.
Lanston's Earnings Compared.
One Of the most important annual
meetings of the week, from the stand
point OF local interest, was Unat of the
Lanston Monotype Machine Co. Earn
ings comparisons with last year are OF
wide interest. This years earnings OF
S405 compare with $3.50 last year, not
nearly as large slump as many corpo-
rations have reported.
The balance sheet as Of February
29. 1882. showed total assets of S10.17l,-
O33, comparing with Sl0,633730 on
February %, 1881, and surplus Of $4.468,-
582. aga inst S4,557, TAO. Current assets
amounted to S4,728, 967, and, excluding
S25. 600 reserve for Federal taxes, there
were no current liabilities the company
having no notes or accounts payable.
At close of preceding fiscal year current
assets were $5,577,216, and. excluding
$4,000 reserve for Federal taxes, there
were no current liabilities.
Lanston stock Is now quoted on the
Washington Exchange at SO bid and 81
asked and pays Sc year. The annual
report showed the company in an un-
usually sound financial position, ready
to go ahead with rapidity as business
RECEIVERS.
April Clearings Encouraging.
Bank clearings for 1913 cities in the
United States totaled $22 ,534 684, 900 in
April, as compared with $24,2l4,435,0 900
in March, a decline of 60 per cent. The
April total also shows a drop OF 42.7
per cent below the corresponding month
last year.
Bradstreet's seasonally adjusted index
advanced 13 points over March, and
now stands at 47.3 per cent of the 1926
average For the past few months this
index has been declining very little.
Thus its movements are similar to those
in 1921 just prior to the upturn IN
business activity.
Since prices declined over 3 per
cent during April, considerably larger
volume Of business is indicated by the
rise in the value index Of bank clear
ings. This greater volume is almost
entirely due to distributive trade. The
fact that car loadings show similar
tnprovem ent tends to confirm the clear
ings index, Bradstreet's says.
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