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Legend has it that Simeon Toby intended to build a bank in Hillman City - one mile south - but got off the streetcar in Columbia to visit his friend Will Brown first. Brown persuaded him to open his bank in Columbia instead. The bank operated here from 1903 to 1924, when it moved across the street (see #9). Toby is also known as the “Father of the Columbian Way,” in honor of his role in persuading the Seattle City Council to build a road from Columbia City over Beacon Hill to Georgetown.

In 1903 this building was constructed by Simeon T. Toby, who was a businessman from Seattle. Originally built in order to house a bank which began operation in 1910, it has also been and continues to be home to a variety of businesses throughout the years. Toby operated the bank, a private bank due to a lack of funds for a state charter, and named it the S. T. Toby Bank and a year later it was renamed Rainier Valley State Bank. In 1923 the bank was moved across the street. In 1914 the building was given a second story and a basement, and all three floors have been occupied by many businesses including a hardware store, printing office, storage company, a pool hall in the basement, and residential housing in the second floor. In 1992 a total restoration was ordered by the city.

National Register of Historic Places Registration Form, Seattle Government. December 16th 2004. Accessed September 23rd 2020. http://www.seattle.gov/Documents/Departments/Neighborhoods/HistoricPreservation/HistoricDistricts/ColumbiaCity/ColumbiaCity-National-Register-Nomination.pdf.