 On Sunday, March 14, 1926, in a ceremony led by the Sovereign brothers and other officials of the Aladdin City Sales Co., the cornerstone of a one-story bank building "of Persian design" was laid at the corner of Ali Baba Circle and West Cairo Street.Negotiations were purported to be under way at that point to start banking operations upon completion of the building.Following the ceremony, the Pioneer Society—which was composed of Aladdin City investors—held a meeting and elected officers.