This building is located at Muelle del Banco Nacional (north bank of the Pasig River) about a block away from the MacArthur (Santa Cruz) Bridge. The street you see in the recent photo going to the left leads to Calle Escolta.
That’s about the only things I can say about this building as I haven’t been able to find any information about it anywhere. If there’s anyone out there who can point me to the right direction, I’d appreciate it if he/she does.
Note on the use of the old photograph:
From the United States National Archives website:
“The vast majority of the digital images in the Archival Research Catalog (ARC) are in the public domain. Therefore, no written permission is required to use them. We would appreciate your crediting the National Archives and Records Administration as the original source. For the few images that remain copyrighted, please read the instructions noted in the “Access Restrictions” field of each ARC record.”