Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1895-02-26
$10,O00,OOO.
The Phoenix National
Bank Yesterday
Became the Representa-
tive of Vast Wealth.
important Changes in the OFF,
cial List and Directory.
The Consummation of Negotiations
Begun Several Months
Ago.

There eliminated yesterday an ex-
tensive financial negotiation which has
been going on for several months and
resulted in marked changes in the Off
cial list and directory OF the Phoenix
National bank. The personnel of the
list of stockholders is also changed, not
by the absence OF any OF the old ones,
but by the addition OF new and strong
ones.
By the change President James A.
Fleming, who owned sixty per cent of
the capital stock of 100000, disposed
of a considerable part of his holding,
retaining enough, however, to still con-
stitute him one of the heaviest indi-
vidual stockholders. The. gentlemen
among whom the transferred stock was
distributed were:
Frank S. Belcher OF Charlotte, Mich. !;
and president of the First National
bank OF Charlotte, D. NJ. Ferry the
! famous scotsman and banker of Detroit,
G. c. Bowen his partner Edward S.
Lacey, OF Chicago, comptroller of the
currency under Harrison's administra-
ton and at present president OF the
Bankers National bank of Chicago
whose capital stock is $1,000, ,000s and
whose deposits are $4,000, Henry Ian
try of Lantry & Son, heavily interested
in the north and south road, Frank NJ.
Murphy, president OF <s~ Senta Fe
Prescott & Phoenix and president OF the
Prescott National bank and Simon J 4.
Murphy one OF the largest stockholders
in the new railroad.
Late yesterday afternoon an election
of directors was held and the following
gentlemen were chosen: James A.
Fleming, Frank S. Belcher, P.J. Cole,
Dexter M. Ferry, Edward S. Lacey,
Frank M. Murphy, 6. B. Richmond, 7.
W. Pemberton and B. Heyman.
The officers subsequently elected are
president, Frank S. Belcher, first vice
president, P. j. Cole, second vice presi.
dent, A. H. Harscher, cashier, Chas. ]
Hail.
The close connection formed with
other banks is shown in the fact that
in the directory there are four bank
presidents, Edward S. Lacey, D. NJ.
Ferry. Frank NJ Murphy and Frank S.
Belcher. The stockholders represent
an aggregate wealth of more than $l0,-
0OO, 900. The financial combination
thus formed (the word "com bination'
is not used in its odious sense) is the
strongest west of the Rocky mountains
and south of San Francisco. Nearly all
the new stockholders were previously
interested in the territory and in the
valley. Messrs. Ferry and B ,wen are
the financial spirits OF the Consolidated
canal enterprise and Mr.. Ferry is ar
officer and heavy stakeholder in the
north and south road. President Muir.
ply, of the road, naturally becomes in
tensely interested in the southern ter.
minus OF it and the principal point on
it. For the same reasons Henry Ian.
try and Simon J. Murphy regard theil
financial relations just esta blished with
Phoenix of the utmost Importance.
, Of the local officers or directors little
need be said. The energy of James A
Fleming the moving spirit in the estab
lishment of the bank three years ag'
and constantly at its head since, ha'
been the chief factor in its remarkab bl
success in the face of what at the be
ginning was believed to be crowded
field. During the succeeding stringenc,
which tested the mettle OF the stronges
: financial Institutions. the Ph@ni1
National "never turnedla hair" or CAV
other evidence that the pace was trying
Though Mr.. Fleming has lessened hi
financial interest his personal iuteres
: in the banks success is as strong a
! ever.
Mr.. Cole who has been with the banl
) from the beginning and whose skill an,
fimesse were greatly contributed TO it
, upbuilding remains in an unchange
relation.
| Messrs. G. B. Richmond, 7. W. Penn
berton and B. Heyman have long beel
connected with the institution and thei
3 retention in the directory is only
recognition of their worth in the past.
, The new president, Mr.. Frank S
3 Belcher is gentleman of wealth and
, thoroughly trained banker, havin!
! been engaged in the business for thirt
l years. As has been before mentioned
he comes from Charlotte, Mich, and i
3 still president of the First Nationa
S bank in that city. He was attracted t
r Phoenix several months ago by &C
3 counts of the wonderful climate an
} when he arrived his training as busi
/ ness man enabled him to detect equal
e wonderful financial opportunities. !
(. was then that the negotiations consun1
mated yesterday began. He arrive