The Montgomery advertiser., 1903-04-10
MONTGOMERY BANKS MERGED
 WITH CAPITAL OF $5OO,O0O

of the old banks. They will all be pro-
 yided for in the new institution.
 Cashier Louis B. Farley said last night
 that the volume of business of the con-
 soiidated bank would require the ser
 vices ,f the full force of both banks. All
 employees, he added. would be retained.
 The consolidation became effective last
 night. An important meeting of the
 Board of Directors was held in the
 private office of President J. L. Hall.
 The Board meeting marked the actual be-
 ginning of the career of the Merchants
 and Pianters-Farley National Bank Until
 d late hour last night the joint clerical
 force of the two old banks was engaged
 in the detail work Of the consondaton
 Today is Good Fri1ay. legal holiday
 and all banks of the city will be closed
 The details attendant upon the consolida-
 tion will have been completed before the
 close of today. Tomorrow will be the
 consolidated banks hrst day or business.
 and Planters or the Farley National Bank
 will be payable by the new institution
 The quarters of the big bank are com
 financial institution. The quarters of the
 Farley National Bank were some time ago altered, enlarged and reftted. In dimensions they afford ample room for the demands of the big bank.
 The bank furniture and fittings are especially handsome and elegant. In the recent refitting the best office furniture and fittings procurable were obtained. The banks quarters are among the very best appointed of the South.
 The consolidation of the two banks, which have been recognized as two of the strongest institutions of the State Is re- Earded as an important development m the financial history of Montgomery. It parently reliable rumor three weeks ago foreshadowed the merger of the two banks. The officials of the banks con- cerned simply said at that time that the consolidation had not been accomplished. It was definitely known at that time that negotiations looking towards meger were pending. The rumor at that time was stirring bit of financial gossip tha; vitally interested che business communi- | ty of Montgomery.
 stock of the Farley National Bank was | $1O0O00 and the capital stock Of the | Merchants and Planters was $25O0OO. With | the consolidation the capital stock was
 increased to $500, ,oOo, one Of the largest i, But few banks in the Southern States | have the volume of business of the new institution So large will this be thai | the combined clerical forces of the two | old banks will be none too large for tht | dispatch of the new banks business The consolidation of the banks, 1t is | said, will give larger and better facilities | for the handling of business. It wl l naturally bring about decrease in ex, | penses. The decrease in expenses will l come i'm various ways, not the least oi which will be the running of the building l formerly occupied by the Merchants and | Planters National Bank. The consolida. | ton, it is argued will afford increasec | opportunities for extending courtesies te | customers. . The officers of the new bank are the men who offered the two old banks | They are men of the highest standing 1T | financial circles and men who nave tn' confidence of the people of Montgomer, | and of Alabama. The best evidence oi l their conservative and business acumer l is the splendid standing of the new insu' | tution.