Los Angeles herald., 1909-10-30
HAYNES ELECTED
DIRECTOR OF
COLUMBIA TRUST
BELIEVED TO HAVE CONTROL
OF BANK
MAY BE CHANGED TO NATIONAL
INSTITUTION
Deal Includes Ownership of Five-Story
Building, Which Is to Be Home
of Mining and oil
Men

At a meeting yesterday of the direc-
tors of the Columbia Trust bank Lloyd
c. Haynes was elected member of
the board. Mr.. Haynes, who is the
principal factor in the new Oil aEd
Metals bank which is to be owned and
operated by men who are identified
with the oil and mining industries, is
understood to have acquired control OF
the Columbia Trust bank, which is To-
Gated in its own building at 311 West
Third street, and The Herald IS re-
liably informed that the institution
will soon become the going concern OF
the Oil and Metals bank L. L. Ell
lott, who has been president Of the
Columbia Trust bank since its organ
ization, WILL it is understood, remain
with the new bank, retaining a large
interest.
To Be National Bank
The Oil and Metals bank, which is
financed and will be officered by men
who are interested in mining and the
oil business, is already the owner of
one bank the Union Exchange, at
Ninth and Main streets, and two weeks
ago made application to change the
name from the Union Exchange to the
Oil and Metals bank This requires
1DlrLY Gays IlIue anu WITCH IAiC SOtHSh
ity is granted application will be made
for a charter as a national bank, the
title of the institution to be the Oil
and Metals National bank. 1t Will
enter the banking field with the busi-
ness of two banks and the deposits
of its stockholders and allied interests,
which will at once make it strong
factor in financial circles of the south
west.
The Columbia Trust bank is capt.
talized for $1,000 and has deposits of
s22S, 0O0 1t has done a general banking
and trust business, but when the new
bank is established these two branches,
If these plans be consummated, VIII be
segregated, the trust company to
occupy the west side of the build
ing and its scope to be restricted to
trust duties and the conduct of the
savings department! The Oil and
Metals National bank will occupy the
east side of the building and engage
in a general banking business under
the restrictions imposed by the fed
eral government relating to national
banks.
Mine Money Erected Building
That the Columbia Trust building,
which is owned by the bank, should
become the home of the mining mems
bank is peculiarly, fitting, for every
brick and piece of stone and iron in
the structure was bought with money
made in a mining camp. w. S. Collins,
who built the five-story structure, was
one of the principal owners of the
original Searchlight mine and the
townsite by that name in Nevada, and
it was this money which he invested
in the building. 1t is also fitting, and
a good omen, that the building is the
home of the Sierra Madre club, one
of the few social organizations of the
west the membership of. which is made
up Of men interested in the develop
ment of mines and oil fields. The
club, which is now located in rooms
on the third floor has grown so rap
idly that the entire top floor of the
building has been secured, together
with the roof. and new quarters are
row being prepared and furnished
which will make it one Of the finest
clubs in the city. The Oil and Metals
National bank, it is understood, will
modernize the building and make it the
home of mining and oil men to the limit
of it's capacity, preference being given
at all times to men engaged in this
business.
Stockholders to Choose Officers
The organization of the new bank
will go ahead rapidly from now, and
within a short time the stockholders
will be called together for the selec-
tiOn OF OtlcerS. Inc perSOnnel OF Ine
officials and board of directors cannot
now be announced, but it can be said
that they will be strong men, who are
well known in the banking business.
Mr.. Lloyd c. Haynes, president of the
Union Exchange bank and president Of
the Manhattan Securities company,
will probably be president of the bank.
The Manhattan Securities company is
one Of the strongest mining companies
in the west. 1t started business with a
capital of $8000O which has since been
increased to $1S0.000. The company is
operating three mining properties, has
a surplus of S153O0O and paid out dur
ing the past year between 100000 and
$4,000 for operating expenses.
The officers of the Columbia Trust
bank are as follows: L. L. Elliott,
PRESIDENT e. d. Silent, vice PRESIDENT;
Lester L. Robinson, vice president; T.
B. Braden, secretary and trust officer.
These, with r. j. Waters, w. S. Col
Inns, Walter Everett, Horace o. Smith
and F. J. Thomas, counsel, form the
board of directors.
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