Evening star., 1933-03-26

DOOR Yaro! Had he lived until 1926 the
] chances are that he would even have lost
his bank stock, for it was during that year
that the climax Of the banks history was
reached, and it closed its doors, though its
affairs were not wound up for some years.
Jackson, in his Chronicles of Georgetown,
says:
when the bank failed, in 1926, it created
considerable excitement in the community.
Those who held the notes of the bank found
them worthless in their hands. Those who owned
stock in the bank and lived upon their divi-
dends found their income gone. Those who
had money deposited there discovered that it
was lost. It Is said that the United States
had on deposit with the bank four hundred
and sixty-nine thousand dollars, which was
swallowed up In the general wreck of the
institution. The chronicler remembers seeing.
in q newspaper, the picture of a white COW
representing the bank with an official holding
her by the tail, another holding her by the
horns, the board Of directors running of with
the pail Of milk, while the runner of the bank
was feeding her with brick bats and crying
out that she would not eat"
After the bank failed. the building was rented
fox various purposes, and during William
Henry Harrison's brief term in the White
House, he was rendered Q reception in the old
bank building BY the citizens. George Poe
building into private residence, which he oc-
cupied with his family for many years It is
related that the sale Of the copper roof which
covered the building netted the owner nearly
the entire cost of the building.
Apparently President Washington was in
terested in both the Bank of Alexandria and
the Bank of Columbia, for in his letters we
find a number of references to these institu-
tions and it is quite evident that he was q
stockholder in both. One Of his letters to his
secretary. Tobias Lear, in part reads
Il pray you to continue your purchase of
Shares in either of the Banks of Alexandria
or Columbia or both Gas you shall deem best)
SO far as the appropriated sums in your hands,
belonging to me Ito which add the three
thousand dollars which you received from
Doctr. Stuart on my accounD will CO. In
doing this let the call for ten dollars on each
share purchased in the Bank of Columbia, be
included-because until I receive payment
for some land which I have sold, or the cash
for my flour, sea-, which is not yet due
shall not have it in my power to apply fur
ther sum to this use"
THE first bank located east of Rock Greek,
] in the old City of Washington proper was
q branch of the Bank Of the United States,
at Philadelphia, chartered as before stated in
1871. Soon after the Government moved
here in 1900. the Secretary Of the Treasury
requested that branch Of that institution be
placed at the Federal Capital for the conven-
1ence Of the Government, and the request was
complied with, With the result that by the end
Of September, 1901, arrangements were well
under way to this end, and James Davidson,
Of Philadelphia, was appointed cashier.
A lot was purchased at the northeast cor
ner Of Thirteenth and streets northwest,
and by the end Of November . two-story build
ing, Is by II feet. was erected, and adjoining
it on the east was built house for the cashier,
three stories high and "A by 36 feet.
In accordance with It's charter the Bank Of
the United States went out Of existence In 1911.
In 1876, its proponents succeeded in revivmS
It, and, chartered for another 20 years. from
April TO- it went forward strongly until Presi-
dent Andrew jackson, from 1928, onward, re-
solved to sweep It away. and when he succeeded
~ doing 80 stopped the balance wheel which
regulated the finances Of the country" On
March 3, 1886, its federal charter expired, and