Arizona republican., 1896-06-05
IN FINANCIAL CIRCLES
Change in the National
 Bank of Arizona. ]:
M. w. kales Retires from It's
 Management. j
Is Succeeded as President by Emll Ganz-G. w. Hoadley Remains
 as Cashier.

No matter how stringent the money market nor how loud the cry of hard times" whenever a gilt edged propo- sition is offered to the public, conserva- tive capital is ready and eager to ab- sorb the same, as was evidenced within the past few days by the transfer of a large block of the stock of the Ma tional Bank of Arizona at a handsome premium. As soon as it became known that the stock was offered applications became numerous and the stock imme- diately subscribed for, twice over
 The National Bank of Arizona is the oldest and one of the most successful National banks in the territory Of Arizona. Up te the present time it has been, vir- tually, close corporation, as the stock has been held by M. W. -Kales and Messrs. M. and Sol Lewis, with the ex- ception of such local shareholders as were necessary to form the directory.
 M w. Kales, the retiring shara7 holder and president, is not only the pioneer banker of Arizona, but of Nei vada, having been the cashier of tho First National Bank of Austin, at its organization. Mr. Kaies' success as a banker in this territory is public fact But, while he leaves Phoenix 'td take up his home at Oakland, Cal, he still retains interests in the city that aggregate near the quarter million mark, so that he is still to be looked upon as one of the city's best citizens.
 Messrs. Sol and M Lewis will stil retain their interest in the bank. M1t Sol Lewis is vice-president,
 M. Lewis is the largest shareholder in the directory of the Bank of Cali1 fornia. : -@f
 Those who succeed to Mir. Kalea, share of the stock are B. Gang, Geo. w, Hoadley, Joseph Thalfeinisr, E. M and c. D. Doris, Ed Eisele. Charles Goldman, John Y T. Smith and the city's new mayor, James 20. Monihofk who maybe considered as representa- tive of the most conservative and stic- cessful business interests of the city.
 Yesterday was held the meeting of the directors of the bank at which the transfer was formally made. The transfer ef stock was made by MT. Kales and the new directors took their seats. Organization was perfected bY the election of MT. Gang to be presiS dent, Sol Lewis vice-president, ana Geo. W. Hoadley cashier. 'e '
 MT. Hoadiey, who is again placed 1n the position he has occupied since 1887, when the institution was organized aa a National bank. His record, however; in the banking of Arizona extends far back of this date, back into the early sos, when he was called by MT. KaleS from San Francisco to assist in maItS aging what then was known as tho Agency of the Bank of Arizona" He is known to the people of Arizona gen.. orally as one of the most cautious and yet progressive of financiers, and it ia largely to his efforts the great success of the institution is due In the new deal he becomes one of the largest shareholders. To him also is due the credit of placing at premium the Kales shares locally, though but a few days had been given him for the task and his ready success must be consid77 cred as high compliment to his man agement {
 Emil Gang, the incoming president, has been a citizen of Phoenix for thei past seventeen years, and is man WuOSc cul1Ic lhttttSlS He Ill HHOcu14. The opinion of his neighhors best is shown by the fact that he was elected last Tuesday without opposition to be the councilman of his ward and that before he has held the post of mayor to the full satisfaction of the munich pality.
 The capital stock of the bank and alf the features of it's management remain unchanged, though it is probable in the near future two directors will be :, added to the five that now are allowed.
 The final meeting yesterday was re- markable for the fact that at it was declared probably the largest dividend, ever known to banking in the west, namely 66 per cent. All the securil ties held were examined and declared gilt edge and the percentage of de posits on hand was found td be far in excess of the legal requirements
 MT. Kales, in leaving his office, spoke warmly expressive of his belief that Phoenix is destined to become one of the great cities of the west. He leaves the bank only that he may not be con- pelled to be frequently absent from his home in Oakland, Cal, where his main business interests now lie and family reside, yet retains investments that will continue his financial interest in the progress of this city. He will probably this summer visit Europe with his family, intending to return for while to Phoenix in the winter.