The Washington times., 1935-12-09
AM. SECURITY
IS 46 YEARS
OLD TODAY

The American Security and
Trust Company, in celebrating to
day on the occasion Of its forty
sixth anniversary, takes pride in
its record of achievements and
particularly in those Of the cur.
rent year when increased business
sent the figures on the company's
books to new high levels.
During the 46-year period it Wit
messed a business growth from 13g
deposit accounts and $260,0oo in
deposits during the first year to
over 77,000 deposit accounts and
more than 40 million dollars in
deposits during 1885. Assets OF
the banking department reached
So million dollars, while those as
sets controlled by the company
through it's trust department
amount to more than 120 million
dollars.
Chartered originally under the
laws of the State Of Virginia on
october IL, 1889, and later under
the general incorporation law
enacted by Congress for trust
company within the District Of
Columbia, the American Security
and Trust Company was author
lied to conduct general bank
ing, trust, safe deposit and storage
warehouse business. It was also
authorized to act as fiscal and
transfer agent and registrar OF
securities.
Began December 9, 1889
On December 9, 1889, the com.
pany opened its doors for business
in temporary quarters located al
1419 G st. N. W., where it con
tinued to operate until the fall
of 1891, when the business wal
transferred to a new and perma
nent location at 1405 G st. N. w,
In the fall of 1895 an annex wal
built.
In 1905, the company trans
ferred it's business to home on
the northwest corner Of Fifteenth
Street and Pennsylvania Avenue
Northwest, opposite the United
States Treasury. For a quarter
of a century this building housed
the main office departments, but
it was finally outgrown and in
April, 1890, work was begun on
the remodeling Of this banking
room and the erection Of a com
bined office and bank building
adjacent thereto. On May 9,
1882, the enlarged main-office
building was opened to the public,
In addition to the main office. the
company maintains four branch
offices in principal sections OF
the city.
The original capital stock Of
$1,250,000 was increased to $4,000.
900 in 1903 and in 1919 was
further increased to $3,400,000.
The surplus account has been
built up to equal that amount
and now the combined capital
surplus and undivided profits is
more than $7,500,000.
Thorn President
Corcoran Thorn is president OF
the institution. Other officers are
as follows: Howard Moran, vice
president; William L. Beale, vice
president and real estate officer:
Frederick P. M. Siddons. secre
tary; James C. Dulin, jr., treat
surer: T. Stanley Holland, trust
officer: ]. Damn Faber, auditor:
Albert H. Shillington and Robert
L. Flather, assistant secretaries;
David N. Houston, j. Eliot Moran,
Arthur G. Nichols and Earl G.
Jonscher, assistant trust officers:
Frank M. Perley, trust investment
officer; William w. Keck, Edward
E. swan, Hans w. ireland, Rich
ard E. Harris, Percy C. Brady.
Harry P. White, Charles c. BoS
we'll and William E. Schooley
assistant treaSurers.
The directors are as follow:
C. A. Aspinwall, William L. Beale,
Gist Blair, Harry K. Boss, George
w. Brown. Charles A. Carry, Will
liam M. Coates, William w.
Everett, William ]. Flather, jr.'
M. G. Gibbs, James M. Green,
Gilbert H. Grosvenor, j. Philip
Herman, William Montgomery.
Howard Moran, Clarence F. Nor
ment, Newbold Noyes, John Saul,
Corcoran Thorn, S. Percy Thomp'
son, Benjamin w. Thoron, John
q wilkins