Evening star., 1954-09-20
By Donald B. Hodley


The National Bank of Wash
ington, the city's Oldest bank,
will open an exhibit depicting
its 145 years of history at Hotel
Statler Sunday.
Constructed for the 39th ma
tional convention of the Finan-
cial Public Relations Association,
which starts on that day, three
large panels will show the vari-
Gus locations of the banks since
its beginning in 1909, its first
president and historical docu-
ments of its early days.
It's first ledger book, still in
tact and safely bound in a mod
ern cover, will be on display in
the center of the exhibit.
Daniel Carroll of Duddington,
whose inheritance included the
ground where the Capitol. the
Library of Congress. and other
buildings now stand, was one of
the organizers of the bank and
became it's first president.
Clashed With L'Enfant.
His unsuccessful fight to keep
Mai. Pierre L'Enfant from tear
ing down his manor house to
make way for streets was q clas-
sic in Capital history.
Early depositors, whose orig
inal accounts also viii be shown
in the panels. include:
Bushrod Washington. nephew
of George Washington and in
heritor Of Mount Vernon.
Henry Clay, author of the
American protective tariff sys-
tenn and the Missouri Com
promise.
Francis Scott Key, author of
the Star Spangled Banner.
Daniel Webster, statesman and
famous orator of the Senate.
Chief Justice John Marshall.
President James Monroe, who
formulated the Monroe Doctrine
while a depositor of the bank.
Eli Whitney. inventor Of the
cotton gin.
Chief Justice Roger Brooke
Taney. who handed down the
Dred Scott Decision.
On Site of Library.
The bank was organized on
September 4, 1909. in what was
known then as Longs Hotel in
CAROLS Row. on the site now
occupied by the main building of
the Library of Congress.
It was here that articles of
association were drawn up and
approved, notice of intention
filed and the books opened for
stock subscriptions. The first
stock issue was limited to 5000
shares at $40 a share. So great
was the demand that 10000
shares above the limit were sub
scribed on the first day.
The bank opened for business
on December |. 1909 in tempo
rary quarters and the following
year. took over more satisfac-
tory quarters on New Jersey
avenue Sc. Except for a short
period in the War of 1872. it
remained at that location until
1929.
When the British approached
Washington on August IA, 1914,
the banks cashier. a Mr.. Brad
ley, piled the assets and records
into a wagon and raced out Of
town just ahead Of them.
Business was conducted as
normally as possible for the next
few weeks at nearby Brooke
vile, Md. After the British
burned the White House. Capt.
tol and other buildings and de-
parted. the bank was reopened
in its regular quarters.
Space i'm National Hotel.
In 1929 the bank rented quar-
tiers in the old National Hotel
at Sixth street and Pennsylvania
NV. in order to keep
pace with the growth Of the city.
which was developing rapidly to-
ward the northwest.
It was IN this hotel. first op-
Grated by John Gadsby, who
built and owned the famous
Gadsby Tavern Of Alexandra,
that Senator Clay spent the last
years OF his lie.
I'm i6a1 the bank purchasea
iEs preSss1x spxopersy a1 seventh
stfees ann ksefansy1yaala avenue
nv. 1s occupied eve small
61Mdinga there anth Tho present
was erected N 1859.
The statler exhibit win include