Evening star., 1934-09-23
Anniversary Falls on Tues
day-0ffiCiaIS Pleased by
Steady Progress.
DEPOSITS HAVE CLIMBED
STEADILY EACH MONTH
Jump From Total of $S,725,451
on Opening Day in September,
1888, to $14,657 ,924.
BY EDWARD c. STONE.

The Hamilton National Bank of
Washington will celebrate its first an
niversary next Tuesday. September 25
At the same time the officials will look
back with we'll earned satisfaction
over y months of unusual business
growth. steadily mounting deposits
and Commendable service TO the COM
munity at large
The Hamilton National was born
rs the result of a consolidation of
seven local banks. which were closed
at the time of the Nation wide bank
holiday declared by President Roose-
welt. AS the result of a tremendous
amount of organization work. Edwin
c. Graham and his associates brought
into one fold the District National.
Federal-American National Bank e.
Trust Co., Northeast Savings Bank
Potomac Savings Bank, Seventh Street
Savings Bank. Washington Savings
Bank and Woodbridge -Langdon Savings
e. Commercial Bank.
Raising of Sl.25OOOO in new capital
was a task that would have baff1ed
many less energetic financiers. Many
business men said it could not be
done. But it was accomplished after
q hard struggle and now stands out
as the first real achievement of the
present management. Just as the goal
was neared. the United States Savings
Bank pulled out and an unexpected
additional $4,000 had to be raised
Meeting of that final test put the new
bank on its feet.
Steady Gains in Deposits.
In the opinion of officials, the next
leading achievement has been the
steady growth in deposits. Every
month since the doors were thrown
open has revealed an increase. The
Hsmilton's deposits on the opening
day in September, 1888, totaled
S8.725,45l. At the close of business
last Wednesday, September 10. de-
poSits had mounted to Sl4.657.924. a
gain in y months of S5,932,473, or
679 per cent. The branches as a
whole have lifted their deposits 46 per
cent since the opening date.
On the opening day, the bank made
available so per cent of the deposits
tied up in the seven units which made
up the new institution, between
s8,Oo0,000 and s9.ooo,eo0. This pay
ment to hundreds of Washingtonians
was a great help to them. At the
same time the Hamilton officials were
greatly pleased with the amounts that
were redeposited in the new bank.
When the new bank was opened about
130 employees were given regular posi-
tions, which they still hold. Business
has made it possible to retain the
entire force, contrary to expectations
at the time of the consolidation.
The Hamilton now has slOO0,OOO
capital, S250,000 surplus and s83,879
in undivided profits President Gra-
ham pointed with pride to the undi-
vided profits as Of September 10, 1884
They speak for themselves. he said
and then displayed a chart showing
the monthly growth in deposits. The
officials are delighted with the re-
suits of the first year and have al
ready received many congratulations
from patrons. On the date of the
June 30 controllers call, resources
and liabilities totaled $l5.9ll .956 81.
In addition to the main office, the
bank maintains seven branches which
were formerly occupied by units which
went into the merger. With Mr.. Gra-
ham in guiding the banks destinies
are Joshua Evans, jr, vice president;
w. j. Waller, vice president and CASH
Ter: w. R. Forster, vice president;
F. P. Harmon, jr., and c. J. Gockeler,
assistant vice presidents; Robert A.
Sisson and H H. Shackleford. assist
ant cashiers; Erskine Gordon, trust
officer; Aubrey O. Dooley. assistant
trust officer; Arthur J. Linn. con-
troller; Millard S. Yeatman, auditor,
and Roger J. Whiteford, general
counsel.
Oficers at the branches include:
Brookland branch-J. L. Sherwood,
manager. and w H. Martin, jr., as
sistant Dupont Circle-L. E. Schrei-
ner. manager. and w. C. Baden. as
sistant Northeast-GeOrge F. Hoover,
manager, and Julian o. Cardin, as
slStant. Pennsylvania avenue-E. Ger
stenberg, manager. Potomac-C. w.
Shoemaker, manager. and Elmore I.
Burdette, assistant. Seventh street
John NJ. DeMarco, manager, and E.
A. Alsop. assistant. Woodridge-Lang-
don-E. L. Norris, manager and 7. S.
Mallon, ir., assistant.
In cooperation with the other
Washington banks and the National
Housing Commission, it was so ar
ranged that the first renoviZing loan
in the whole United States. in con-
nection with the modernization cam
paign, was made in this bank. Many
national housing officials and local
bankers attended the ceremony.
Housing Loans Bankers Topic.
Members of the District Bankers
Association will give full considera-
ton to cooperative advertising
campaign to push Federal housing
loans. during the coming week. Presi-
dent F. P H. Siddons has called
special meeting of the association for
next Wednesday, September 26.
The meeting will be held in the
board room of the American Security
r. Trust Co. The member banks will
have a general discussion as to the
best WAYS in which the local banks
can further cooperate in the Wash
ington housing campaign and with
the Federal Housing Administration,
to increase the nurnDer OF loans eA-
tended to applicants to modernize and
improve their homes.
Last month the banks in the Capital
ran advertisements announcing that
applications for housing loans would
be received at the banking Office of
each bank.
While all the banks have made
loans. the number has fallen short
of what the housing campaign sup
porters had hoped for. These off,
cials are now seeking new methods of
increasing the loan demand.