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Overview

This branch of the Federal Reserve Bank of San Francisco opened in 1917. In 1918, it operated on the northwest corner of North Wall Street and NW Riverside Avenue. (See R.L. Polk and Company's Spokane, Washington, City Directory, 1918, p. 358.)

Building History

The Federal Reserve System established its San Francisco Branch in 11/1914. A US Government web site on the history of the Fed's 12th District stated: "The Twelfth District was thus established, with its headquarters in San Francisco and serving the states of Arizona, California, Idaho, Nevada, Oregon, Utah, and Washington. It is the largest of the 12 districts in terms of population, economic and geographic size. Since the Twelfth District bank spanned vast distances, the Board of Governors of the Federal Reserve System also established branches. In 1917, the Spokane, Seattle, and Portland branches opened their doors, followed by the Salt Lake City branch in 1918, and the Los Angeles branch in 1920. Although the Spokane branch closed in 1938, all other branches remain today, including a cash processing facility in Phoenix. In addition, the San Francisco Fed now also serves Alaska, Hawaii, American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands." (See Federal Reserve Bank of San Francisco.org, "Our History," accessed 11/05/2018.)

This bank served as the Spokane Branch of the Federal Reserve Bank of San Francisco beginning in 06/1917. Longtime Federal Reserve Bank of San Francisco employee, Hermann N. Mangels (1897-1961) assisted in the opening of this facility. A web site dedicated to the history of the Federal Reserve system stated of Mangels's career: "Mangels joined the staff of the San Francisco Fed in July 1916 as an adding machine operator in the Check Department. Subsequently, he played an important role in the establishment of all of the Reserve Bank’s branches, starting in June 1917 as acting chief clerk at Spokane (no longer a branch location). He held the same title when the Seattle branch opened that September, then was acting cashier for Portland’s opening the next month and again for Salt Lake City in April 1918. Mangels also served briefly as assistant cashier at Los Angeles when a branch was opened there, and was transferred back to San Francisco as an assistant cashier in 1920. He was appointed cashier in 1943, vice president in 1944, and first vice president in 1947." (See Federal Reserve History.org, "Hermann N. Mangels," accessed 11/05/2018.) Mangels would go on to serve as President of the Federal Reserve San Francisco Bank between 1956 and 1961.

In 1918, the Manager of the Federal Reserve's Spokane Branch was Charles A. McLean. (See R.L. Polk and Company's Spokane, Washington, City Directory, 1918, p. 358.)

PCAD id: 1856