Evening star., 1933-12-31

RIGGS COMPLETES
BRANCH EXPANSION
Park Road and Dupont Circle
Facilities Expanded by
D. c. Bank.

Riggs National Bank officials an
nounced yesterday that the extensive
remodeling and enlargement of the
Park Road and Dupont Circle branches
has been completed, the expand facili-
ties now being offered to banking public.
These buildings were built originally
at the time Riggs entered upon the
policy of extending its strength and
service in various growing community
centers through the operation of
In 1922. Riggs Bank acquired the
Hamilton Savings Bank with offices at
Fourteenth street and Park road ana
Seventh and Eye. and at the same time
established branch at Dupont Circle.
the latter occupying temporary quarters
in small building at Twentieth and
P streets
Realizing the growing Importance of
both sections, plans were at once under
taken to secure sites at both Dupont
Circle and Park road. and for the erec-
tion of suitable banking quarters. The
following year on January 8. 1923, the
new banking house for the Park road
branch was opened. and the new build
ing to house the DupClt Circle branch
with entrance at /. Massachusetts
avenue, was opened 20 he public in
October, 1923. At the time these Struc-
lures were designed they represented
the last word in bank construction and
1t was believed their capacity would
meet the demands OF business in those
locations for long time to come How
ever, the growth of these branches has
lar exceeded expectations. and it was
necessary during the last year to under
take extensive remodellng operations.
Deposits Grow Rapidly.
When the Dupont branch was opened
FOR business in temporary quarters on
May 1. 1922. it closed the tirst DAYS
business with deposits of roundly
$4,000. AT the time the permanent
office was opened in January, 1923. the
branch deposits had grown to S255 900
ana at the present time its deposits are
roundly S3,OOO.000 When the Park
road branch was established. January.
1922. its deposits amounted to $1,000
and are now roundly So 500 OO0
THESE buildings originally were de-
signed by George N. Ray, architect, and
The construction work was done by the
Chas. II. Tompkins Co, the same
architect and builder which had in
charge the recent construction.
The Capacity of both of these
branches has been practically doubled
III every respect and the enlarged Offices
not only present handsome appear
ance. but provide every convenience and
facility for the transaction OF general
banking business.
Riggs National now has. in addition
to lS main office at 1903 PENNSYLVANIA
avenue. seven branches. In 1925 the
bank established its Northwest branch
at Eighteenth street and Columbia road
when 1t acquired the business of the
Northwest Savings Bank. and in 1923
its Farmers and Mechanics branch AT
Wisconsin avenue and NJ street, George
town, and its Friendship branch. at
Wisconsin avenue and Warren street
were established when the Farmers and
Mechanics National Bank of George
town was merged with the Riggs. Last
June Riggs acquired the Chevy Chase
Savings Bank at Connecticut avenue
and Morrison street.
Founded i'm 1886.
The Riggs National Bank. with de-
posits of roundly S7O.0O0.00O is listed
by the American Banker as the sixtieth
largest bank in the United States. The
bank was founded in 1886 by William
w COrcoran and as private banking
firm it later was incorporated as Riggs
& Co, and in 1896 became a national
bank The bank enjoys an enviable
reputation throughout the world and
has had large part throughout its ex-
istence of nearly a century in promoting |
the best interests of the Nations /
Capital.
Its present official staff is headed by /
Robert " Fleming, who was elected |
president in 1925. Mr. Fleming has
been identified with the bank through
out his business career He has been |
one Of the outstanding bankers Of the !
country having occupied many impor-
tant offices not only in the District
Bankers Association, of which he was |
president in l928-29. but in the Ameri-
can Bankers Association, Of which he is
now a vice president, having served
during the past two years as chairman |
of its important Committee on Law and /
Legislation.
Mr.. Fleming is also treasurer of the
Chamber of Commerce of the United
States and a vice president of the Board .
of Trade of Washington
The Dupont Circle branch is in
charge Of Mr.. Ralph r. De PREF, man
ager. and Louis E. Jeffries. ir. assistant .
The Park Road branch is in
charge Of Mr. Carl H. Donch. manager,
and Joseph A. Keene, assistant manager.