Evening star., 1950-03-08
Erection Of fDIC
Building Urged
|By2Senators
Government Officials
| Back Legislation for
| Construction Here
By Don S. Worren

Two Senators joined today with
Government officials in urging a
Senate subcommittee to approve
a bill authorizing construction in
the District of a permanent home
for the Federal Deposit Insurance
Corp.
The cost of the building is
roughly estimated to run from
SIS million to $40 million. The
site has not yet been determined.
The need for such a structure
was outlined before a subcommit-
tee Of the Senate Public Works
Committee, headed by Senator
Holland, Democrat, of Florida, by
Maple T. Harl. chairman of the
FD1C. and by Jess Larson, admin
istrator of General Services.
Support was voiced by Senator
Maybank, Demoo cat, of South Car
olina. chairman of the Senate
Banking and Currency Commit
tee, and Senator Sparkman, DEM
ocrat, OF Alabama, member Of the
Banking Committee.
Approved by Banking Group.
The Banking Committee earlier
had approved this project unan-
imously, but the measure was re-
ferred to the Public Works Com
mittee because it has Jurisdiction
under the Congressional Reorgan-
ization Act.
Senator Maybank said the prof.
ect was needed because the FDIC
now is occupying three different
buildings, costing the Govern
ment 100000 a year in rentals.
He said the project would cost the
taxpayers nothing since the cost Of
the site and building would come
out OF fees paid by banks in the
FD1C system. He declared the
FD1C now has an earned surplus
of about $1,250.000,0O
Differ on Type of Building.
w. E. Reynolds, commissioner
OF public buildings, said his Of
flee had in mind building SIM
Yilar to the new Federal District
Court Building being erected at
Pennsylvania avenue and John
Marshall place. Mr.. Harl said he
would prefer one more like the
marble-faced Federal Reserve
Bank Building.
The Holland subcommittee also
considered bill to authorize the
General Services Administration
to buy privately owned properties
in the Blair House block, bounded
by Pennsylvania avenue, jackson
place. H and Seventeenth streets
NV, near the White House.
This is interpreted as move to
forestall the planned erection Of
an office building on the southeast
corner of the square, facing
Lafayette Square and the White
House grounds, now occupied by
the building of the Carnegie En-
dowment for International Peace.
Administrator Larson said the
Government has plans for the fu-
ture construction of Government
buildings on Jackson place to give
a proper frame for the square and
the White House vista. He said
there was no plan for immediate
construction.
Owners Offer Objections.
Owners Of several buildings in
the square offered objections, as
did Matthew G. Lepley, architect
and Melville Macnichol, lawyer.
who are negotiating for the pri-
vate Office building project.
Mr.. Lepley and Mr.. Macnichol
said the building they planned
would be Of appropriate style and
would be leased to the Govern
ment. They protested that the
District would lose tax revenues il
the Government acquired the
property. Mr. Macnichol added
that since the Government did
not plan to build there now, the
old Carnegie building might be
razed and the site turned into a
barking 1ot.