The Montgomery advertiser., 1906-05-06
Merchants and Planters Farley and First
 National.
 - s \ M. BALDWIN
 TO BE PRESDENT Negotiations for Consolidation Are Under Way. Capital stock wosla Be sly0o0,oeo which would Give This City Next N Largest BankaAg Hsuse tA
 the state.

. which the First National Bank of Mont somery and the Merchants and Plant ers-Farley National Bank will consoi- idate. and Montgomery will have the second largest banking house in Ala bama and one of the most potent n- nencial institutions in the South.
 The respective Boards of Directors of the First National Bank and the Mer- chants and Planters-Fariey National Bank met yesterday. and as a result call was issued to every shareholder to vote on the proposed consolidation. un- less something unforeseen to the men who control the executive departments of the two great institutions, arises within a few days Montgomery will have a bank with si,000. 600 capital and a surplus of s250.0oo.
 The name of the consolidated bank will be "The First National Bank and the present new and handsome quarters of the First National Bank. after sx- tcnsive enlargement. will be the place of business of the great institution.
 For several days rumor has been rife as to the consolidation of the two large banking houses. The financial circles of Montgomery have been dis turbed by these rumors. From rumor, the bank consolidation, became general Knowledge. but rot until yesterday were definite steps taken. nor did the bsnk officials give out aught that would confirm the rumors.
 Bank Omciais Confer.
 Yesterday afternoon, aftsr ,aa loint President of the First National Bank, Merchants and Planters Farley National Bank, it was officially announced that negotiations had been pending for some time and that there I,s.. WAS .;o,, dsclded ns,id
 Yesterday morning a meeting of the Beard of Diraetors of each bank was sssa The ss esn Of net was then submitted to them and the : two boards endorsed the plan. AS soon as the meeting adjourned, printed mo- tices, which had been prepared in ad- vance, were mailed to the stockholders of the First National Bank and similar notices will be mailed to the share holders of the other institution to-
 It is expected that the action of the Board of Directors will be ratified by the shareholders in a few days and the consolidation will be completed.
 So far have the negotiations gone, that we'll known Montgomery. archi- tect yesterday made minute inspec- tionaI Bank looking toward the best method of enlargemsnt.
 Oficers of New Bank.
 A Martin Baldwin, president of the First National Bank and one of Ala bama's best known financiers will be president of the consolidated institu- ton. NJ Paul LeGrand, for years con- nected with the Merchants and Plan- Farley. Bank. now it's vice presi- dent and ote of the most popular men in the State will be the vice president of the new institution, while A, S. wooIfolk, cashier of the First Nation- al will be the cashier of the merged
 !. l.. Hall, who is president of the Merchants and Planters Farley Bank. who has contributed nc little to the great success of that institution, will retire from the banking business Mir. Hall will remain in Montgomery. where he will engage in other busi- ness.
 Ssnk Ssr. of w the pr o n stitutions. The direetors of the First Nsti9pai NNssscpanSis srs' J. s wilcox M ~ W A oayis. and F. C. Caffey. The directorate of inc Merchants and Planters Farley is: J. l.. Hall, H. M. Hohbie. R. F; Ldgon, John B. Nicrosi, M. F. LeGrand. P. Q. Andrew. Arthur Pslgsr; ona, q Il hpsn, TarIey ". W. K. Pelzer, N. J. Griel. c. L. Mat thews, Jacques Loeb. ..~
 The consolidated bank will have de- posits approximating $4.000,ooo. There fs but one other bank in the State hay ing as large resources and but few banks in the South as strong.
 The statement of the Merchants ana Planters Farley Bank. as made to the, Comptroller of Currency on April e'Nis as follows: