Arizona republican., 1904-02-24
FINANCIAL INSTITUTION
Organization at Douglas to Develop
 Resources of the Country.

Douglas, Ariz., Feb. 22.-(Special Correspondence of The Republican.)- The Arizona Trust and Banking com pany IS a new organization effected in this city, with a paidup capital of O,OCO The incorporators are l.. c. Hanks, F. A. Von Arnim and Alfred Paul. It will enter a field never be- fore entered in this city-that of loan ing money on real estate for long per iods of time The institution will also receive money on deposit and act as trustee for estates for individuals. On it's directorate will be the officers Of the First National Bank. Such an institu- tion is needed in this city and will be we'll patronized. The power of an or dinary banking house in the matter of loaning money on real estate is very limited, owing to the fact that the privilege of a loan according to GUS
 toms of a banking house. lasts only six months. a rule, at the expiration of which time the loan must be renewed and new papers made out. With the Arizona Trust and Banking company, long time papers can be made out and
 the rate of interest will be slightly lowered as a result. Those backing the new enterprise are men already we'll and favorably known in this city,
 both for integrity, capital and business qualifications and will have the con- fdence of the people from the outset. Douglas chamber of commerce
 proposition is meeting with much en- coura cement. An organization has all
 ready been effected. constitution and bylaws have been adopted. and last night the following officers were elect ed:
 c. A. Overlook, president.
 W. G. Mcdonald, 1st vice president. F. s. Douglas. 2nd vice president.
 A. c. Lockwood, secretary.
 c. O. Ellis, treasurer.
 Executive committee-S. F. Me guire, L. c. Hanks, r. B. Dorr, R. O. | Johnson and c. A. Taylor.
 The discussion of last evening show
 ed the following to be the prime object
 of the organization: To exploit the resources of Douglas and contiguous
 country and to induce capital to invest here. The city will be advertised in
 the most approved and up-to-date style and every legitimate inducement | will be made to advance the material progress of this city. Such an organi-
 zation got up and carried on by the
 most prominent and influential men of | Douglas will make it a certainty that correct reports of the resources and growth of the city will go out Re | ports will neither be exaggerated nor
 minimized, and any outsider seeking | information in regard to the city, will get reliable and prompt information | free of charge. A careful investiga- | ton into the business opportunities in | Douglas will be made, and inquiries | thereto will be answered in a manner
 intended to result best for the good of | the city.
 | A stock exchange is another import ! ant organization which will soon he | effected in this city It will be the only thing of its kind between Denver
 and Los Angeles. A room in the busi- ness center of the city has already ] been secured and the names of eigh- 1 teen men, prominent mining men and | others. principally of Bisbee and Doug | las, have already been secured. The | organizer is H. F.. Stone. who has haC
 five years experience in work of this | kind in Colorado Springs. Colo. Eacf l day quotations of all the leading min ! ing stocks on the market all the way
 from Michigan to California will bt
 found. As the subscribers represen | the leading men of Douglas and Bisbe,
 the success of the move is already SC | cured.