Bisbee daily review., 1903-06-05

There are now six banks doing busi- ness in Cochise county. Four years ago there was not single bank in the county. The six Cochise county banks today carry deposit accounts amounting in the aggregate to one million and a half dollars. the com bined paid in capital stocS of tne six banks amounts to s235, 900. In the prosperous days of Tomb5to le that place of course supported a prosperous bank, but when the town went down and the business disappeared it was ! closed up and moved away about the year 1900 and the county was without bank until February. 1900. when the Bank of Bisbee was established by it's present owners.
 When the Bank of Bisbee opened it's doors it was with deposit account only about Sg.0O0 m thur day, iJ had grown to $92,OO0; at the end of the first year in business it had grown to 900; today it stands at $500, 900.
 The second bank to open it's doors in Cochise county was the branch of the Bank of Bisbee, at Naco, which be- gan business in March 1902. This branch started with a deposit account O. 5000 which has now grown to s60Oo0.
 The officers of the Bank of Bisbee are w. H. Brophy, president; J. $. Douglas. vice-president; M. J. Gun niagham, cashier. The branch at Naco is of course under the direction of the same officers, with Ed M. Blake as local manager.
 The third banking venture in the county was by Bisbee capital when the Bank of Douglas was established. This bank began with a capital stock of s35, 900 which hos not been increased. It's officers are W. H. Brophy, presi- dent: J. $. Douglas, vice president and c. O. Elllis, lcashier. This busi- ness was began in the month of July last; it started with Q deposit account of about 80, 900, which has grown to about s25o, ,00G at the present time. In the same month and only two weeks later the Douglas City Bank was established at Douglas with a capital stock of $50, GOO. Its officers are Geo Mitchell, formerly of Cananea. presi- dent and L C, Hanks, cashier. Ac- cordirg to its last statement it now has deposit account of over sl00,O00. During the latter part of last year the Douglas City bank was converted into l a national bank and is fnow known as the First National Bank of Douglas. Both the Douglas banks are in a fourishing condition and are credit able to that enterpris town. On July %, 1902, the third bank Co begin business in Cochise county during that month was the Miners and Merchants Bank, of Bisbee. The bank was incorporated under the laws of Arizona and began business with a paid up capital of s50,0O0, all in the ! hands of local Bisbee men. The growth | of this bank Las been a record breaker i; now less than one year old it has de- posjt acco Int of S3.0,000 loans and discounts, $50, 0OO, with cash items on hand s2O0,O00, The officers of this bank are l. c. Shattuck, president; |, l NJ. Muheim, vice-president: J..T. Hood cashier, with L. J. Overlook and Jacob Sbhmid as additional directors.
 The First National Bank of Tomb stone was the last to establish itself in | the banking business in Cochise county It began business in the latter part of last year, with paid up capital of s25, 5,OGO. M. D. Scribner ia the presi- dent. The vice.president is Judge James Reilly and T, R. Brandt, cashier. That these gentlemen were wise in oc- cupying the banking field in Tomb stone is proven by the fact the bank noe has on deposit the handsome sum of slI5 .000 or more.
 NJ. J. Cunningham, Of the Bank of Bisbee, said to the Review yesterday in conversation concerning the bank ing business in this county, that few ! localities could make better showing
 in the growth of it's banks in the same length of time.
 s'We have some trouble in finding a demand for all the money that accumu-
 lates on our hands, said he. "That is always the case in mining camps, and 1t is more SO here because of pecu-
 liar conditions. We loan considerable
 ID Jney from here. in Salt River Valley T or grain and have some money loaned
 there to cattle men. We carry a lot of
 bonds of various kinds and have some
 money loaned on call in the city of New
 York. We are just now getting the
 Arizona Worlds Fair bonds which
 were awarded to us several months ago. The issue amounts to $50, 7"
 The growth of the banks in Cochise
 county, shown in the above, gives the
 most indisputable evidence ofthe great
 industrial growth of this section of
 Arizona during the last three years. | It shows a record of nrosperitv .,n.